Limitless X Holdings Reports 69% Revenue Decline and Increased Losses for Q1 2026

Limitless X Holdings Inc. reported a significant decline in financial performance for the three months ended March 31, 2026, compared to the same period in 2025. The company generated net revenue of $77,570, a decrease of approximately 69% from $251,936 in the prior year. The cost of revenue also saw a substantial reduction, falling to $1,891 from $117,194, resulting in a gross profit of $75,679, down from $134,742. Operating expenses, however, increased to $1,229,049 from $4,366,786, primarily due to higher general and administrative costs and salaries, leading to a loss from operations of $1,153,370, an improvement from the previous year's loss of $4,232,044.

The company's total assets surged to $1,952,826 as of March 31, 2026, compared to $183,516 at the end of 2025, largely due to the acquisition of the remaining 80% interest in Limitless Entertainment Group and Limitless Film for nominal consideration. This acquisition, completed on January 1, 2026, allowed the company to consolidate its financial position and results of operations. The total liabilities also increased significantly to $7,167,560 from $4,462,287, driven by higher accounts payable and accrued expenses, as well as increased notes payable to related parties.

Operationally, Limitless X Holdings has focused on expanding its product offerings and market reach. The company operates a direct-to-consumer e-commerce platform that includes dietary supplements and consumer packaged goods. It has also entered into agreements to develop premium supplement lines with notable figures such as Manny Pacquiao and DJ Pauly D, and is pursuing international expansion in markets like the Middle East and India. The company reported a weighted average of 17,928,032 common shares outstanding, with a net loss per share of $1.61 for the quarter.

Looking ahead, Limitless X Holdings acknowledges the need for additional capital to support its operations and growth initiatives. The company has not faced liquidity issues in settling payables or repaying loans but recognizes the risks associated with renewing loans and the competitive landscape in which it operates. Management remains optimistic about the potential for revenue diversification through its integrated approach, combining consumer product sales, content production, and technology-enabled platforms. However, the company has expressed concerns regarding its ability to continue as a going concern, given its accumulated deficit of approximately $113.8 million as of March 31, 2026.