Bio Green Med posts $0.8M fire safety revenue, trims G&A by 90%
Bio Green Med Solution reported Q1 2026 results showing $0.8M in fire safety product revenue post-acquisition of Fitters and a 90% drop in G&A expenses to $0.4M. The company ended the quarter with $3.3M in cash, a net loss of $0.2M, and expects cash runway into Q4 2026.
1. First-Quarter Financial Highlights
Bio Green Med reported $0.8 million in fire safety product revenue, a net loss of $0.2 million, and ended Q1 2026 with $3.3 million in cash and equivalents. Net cash used in operating activities totaled $0.3 million, supporting an estimated runway into the fourth quarter of 2026.
2. Cost Reduction and Revenue Growth
General and administrative expenses plunged to $0.4 million, down from $4.2 million year-over-year, driven by cost normalization and disciplined management post-2025 control changes. Integration of Fitters Sdn. Bhd. has fueled early momentum in fire safety distribution since its September 2025 acquisition.
3. Preferred Stock Delisting and Dividend
In March, trading of the Company’s 6% Convertible Exchangeable Preferred Stock was suspended following a Form 25-NSE filing, while common shares remain listed. In April the board declared and paid a $0.15 per share quarterly dividend on preferred stock to holders of record as of April 23, 2026.