BiomX Reports $332,000 Revenue and $22.99 Million Net Loss for First Half of 2026

BiomX Inc. reported its financial results for the second quarter of 2026, revealing a significant shift in its business focus and financial performance. The company generated revenues of $332,000 for the six months ended June 30, 2026, attributed to its newly acquired subsidiaries, DFSL and ZorroNet. This marks a notable change from the previous fiscal period, where no revenues were recorded. The company incurred a net loss of $22.99 million for the first half of 2026, compared to a loss of $13.70 million in the same period of 2025, reflecting the impact of ongoing restructuring and operational changes.

The financial results indicate a substantial increase in operating expenses, with general and administrative expenses rising to $6.99 million for the six months ended June 30, 2026, up from $4.93 million in the prior year. This increase is primarily due to stock-based compensation related to new share issuances and other operational costs associated with the transition to the defense and security technology markets. Research and development expenses saw a dramatic decrease, from $10.26 million in the first half of 2025 to a net credit of $187,000 in 2026, largely due to the discontinuation of the Phase 2b clinical trial and the deconsolidation of BiomX Ltd.

Strategically, BiomX has undergone significant organizational changes, including the acquisition of ZorroNet and a 60% controlling interest in DFSL, both completed in April 2026. These acquisitions are part of the company's pivot towards defense and security technologies, following the insolvency proceedings of its former subsidiary, BiomX Ltd. The company has also established a new subsidiary, X Security & Defense Ltd., to further its focus in this sector. As of June 30, 2026, BiomX had 26,723,870 shares of common stock outstanding, reflecting a reverse stock split executed in November 2025.

Operationally, the company is now positioned within several growing sectors, including counter-unmanned aerial systems and AI-powered command-and-control technologies. The recent framework supply agreement with Israel Railways for AI-powered animal detection systems exemplifies the company's efforts to expand its market presence. However, the company faces challenges, including a significant accumulated deficit of $239.8 million and ongoing liquidity concerns, which raise doubts about its ability to continue as a going concern.

Looking ahead, BiomX anticipates generating revenue from its defense and security operations, but management acknowledges the uncertainty surrounding future capital raises and operational cash flows. The company plans to fund its operations through a combination of equity and debt financing, as well as revenue from its newly acquired subsidiaries. A special meeting of stockholders is scheduled for August 25, 2026, to seek approval for various corporate actions, including the issuance of common stock related to the recent acquisitions and financing arrangements.