TurnOnGreen, Inc. reported its financial results for the second quarter of 2026, revealing a revenue increase of 4% to $1.754 million compared to $1.692 million in the same period of 2025. For the first half of 2026, revenue rose by 6% to $3.490 million, up from $3.284 million in the prior year. The company achieved a gross profit of $821,000 for the three months ended June 30, 2026, representing a 21% increase from $681,000 in the previous year. However, TurnOnGreen continued to experience net losses, reporting a net loss of $348,000 for the second quarter, a significant improvement from the $651,000 loss reported in the same quarter of 2025.
The company’s operating expenses decreased by 18% to $975,000 in the second quarter of 2026, down from $1.185 million in the same period last year. This reduction was attributed to lower general and administrative costs, which fell by 22% to $734,000. Despite the decrease in operating expenses, TurnOnGreen faced increased interest expenses, particularly related to its convertible notes, which contributed to a total other expense of $192,000 for the quarter, up from $145,000 in 2025. The overall operating loss for the second quarter improved by 69% to $154,000 compared to the previous year.
In terms of operational developments, TurnOnGreen has been focusing on expanding its product offerings in the electric vehicle (EV) charging sector. The company reported that its revenue from power supply units increased significantly, while EV charger sales saw a decline. The company continues to serve a diverse range of markets, including defense, healthcare, and telecommunications, and is actively working on enhancing its EV charging infrastructure and subscription-based network management services.
As of June 30, 2026, TurnOnGreen's total assets increased to $4.665 million, up from $3.227 million at the end of 2025. The company’s liabilities also rose, with total liabilities reaching $13.628 million, compared to $11.069 million at the end of the previous year. The increase in liabilities was primarily due to a rise in convertible notes payable and related party advances. The company reported a negative working capital of $9.3 million, raising concerns about its liquidity and ability to continue as a going concern.
Looking ahead, TurnOnGreen plans to finance its operations through advances from its parent company, Hyperscale Data, and the issuance of convertible debt. The company acknowledges the ongoing challenges it faces, including the need for significant product deliveries to improve cash flows. Management has expressed uncertainty regarding its ability to continue as a going concern, emphasizing the importance of securing additional financing to support its operational needs.
About TurnOnGreen, Inc.
TurnOnGreen, Inc. designs and manufactures power electronic and EV charging solutions for diverse markets including defense, aerospace, medical, industrial, and e-mobility. Its core offerings include high-efficiency power systems and customizable charging stations, serving global customers through direct sales and strategic partnerships. The company emphasizes innovative, feature-rich products, flexible manufacturing, and recurring revenue models in a competitive, rapidly evolving industry focused on green energy and infrastructure development.
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