Pluri Inc. Reports Revenue Decline and Increased Net Losses for Nine-Month Period Ending March 31, 2026

Pluri Inc. reported its financial results for the nine-month period ending March 31, 2026, revealing a decline in revenue and an increase in net losses compared to the previous fiscal year. The company generated revenues of $681,000 for the nine months, down from $938,000 in the same period last year. For the three-month period ending March 31, 2026, revenues were $167,000, compared to $427,000 in the prior year. The decrease in revenue was attributed to a lower volume of project activity, particularly in the Contract Development and Manufacturing Organization (CDMO) sector and AgTech collaborations.

The company's net loss for the nine-month period was $19.2 million, an increase from a loss of $15.5 million in the same period last year. For the three-month period, the net loss was $6.2 million, slightly down from $6.3 million in the previous year. The increase in net loss was primarily driven by higher research and development (R&D) expenses, which rose by 32% to $11.7 million, largely due to increased salaries and related expenses following the acquisition of Kokomodo, as well as higher lease expenses and share-based compensation.

In terms of strategic developments, Pluri Inc. has made significant organizational changes, including the acquisition of approximately 79% of Kokomodo, an innovative agfood startup focused on sustainable cacao production. The company also launched its PluriCDMO™ division in January 2024, which has begun generating revenue through agreements with clients. Additionally, Pluri has entered into various collaborations across its subsidiaries, including Coffeesai and Ever After Foods, to explore applications of its proprietary technologies in cultivated meat, cacao, and coffee.

Operationally, Pluri's employee headcount has increased due to the acquisition of Kokomodo, although specific figures were not disclosed. The company reported a total of 268,878 share options outstanding as of March 31, 2026, with a weighted average exercise price of $13.62. The company also granted 129,082 restricted stock units (RSUs) during the nine-month period, with 344,559 RSUs remaining unvested at the end of the period. The company’s cash and cash equivalents totaled $9.5 million as of March 31, 2026, down from $26.7 million a year earlier, indicating a need for additional liquidity to support ongoing operations.

Looking ahead, Pluri Inc. anticipates challenges in generating significant revenues from product sales in the next twelve months and may need to secure additional funding to support its commercialization efforts and R&D activities. The company has acknowledged that its current cash resources may only cover operating obligations for less than three months, raising concerns about its ability to continue as a going concern. The management is focused on implementing cost-saving initiatives and exploring various funding sources, including potential restructuring of its existing loans and seeking non-dilutive grants.