Splash Beverage Group, Inc. reported its financial results for the second quarter of 2026, revealing a significant shift in its business strategy and financial performance. The company recorded no revenues for the three months ended June 30, 2026, consistent with the same period in 2025. For the six months ended June 30, 2026, revenues totaled $4,224, a sharp decline from $45,200 in the prior year, primarily due to the cessation of sales from its Chispo tequila product line after the termination of its contract with a single customer. The company has since pivoted away from its legacy beverage business to focus on the cannabinoid health and wellness sector.
Operating expenses for the second quarter increased to $2 million from $1.5 million year-over-year, driven by a rise in non-cash share-based compensation, which amounted to $1.1 million. The total operating expenses for the first half of 2026 were $3 million, slightly down from $3.2 million in the same period of 2025. The company reported a net loss of $2.05 million for the second quarter, compared to a loss of $8.49 million in the same quarter of the previous year. The loss from discontinued operations was $46,393, a decrease from $130,599 in the prior year, reflecting the company's decision to discontinue its Copa Di Vino product line.
In terms of strategic developments, Splash Beverage Group is transitioning to a cannabinoid health and wellness platform, which includes the acquisition of exclusive worldwide rights to the CannEpil® product, aimed at treating drug-resistant epilepsy and related conditions. This strategic shift is part of a broader effort to reposition the company for long-term growth in higher-margin sectors. The company has also undergone a name change to Endovia Health Sciences, Inc., effective August 24, 2026, to better reflect its new focus.
The company’s financial position remains precarious, with total liabilities of $16.83 million as of June 30, 2026, compared to $16.27 million at the end of 2025. The accumulated deficit has grown to approximately $186.8 million. Cash and cash equivalents decreased to $242,702 from $281,435 at the end of the previous fiscal year. The company has indicated that it is actively seeking additional funding to support its operations and strategic initiatives, as it faces substantial doubt about its ability to continue as a going concern.
Looking ahead, management is focused on executing its new strategy and pursuing capital-efficient opportunities that leverage strategic partnerships and proprietary intellectual property. The company has submitted a compliance plan to the NYSE American to address its listing standards, with a deadline to regain compliance by January 29, 2027. The outlook remains uncertain as the company navigates its transition and seeks to establish a foothold in the cannabinoid market while managing its financial challenges.
About SPLASH BEVERAGE GROUP, INC.
Splash Beverage Group, Inc. manages multiple beverage brands across non-alcoholic and alcoholic segments, focusing on product innovation, strategic acquisitions, and distribution. It develops, markets, and distributes products like flavored tequila, single-serve wines, and sangria, leveraging a hybrid distribution model and e-commerce platform. The company emphasizes brand building, licensing, and partnerships to grow its presence in domestic and international markets.
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