\n$1.7 Million in Q1 Net Income Driven by $2.2 Million Unrealized Gain on TAO Holdings<\/i><\/p>
\nEight Months of Bittensor Subnet Diligence Has Sharpened the Company\u2019s View of Where Its Operating Experience Can Be Most Valuable to the Ecosystem<\/i><\/p>
DENVER--(BUSINESS WIRE)--TaoWeave, Inc. (Nasdaq: TWAV), a technology company focused on Bittensor\u2019s AI ecosystem, reported financial results for the first quarter ended March 31, 2026.<\/p>
\nFirst Quarter 2026 Financial Highlights<\/b><\/p> \nTreasury Performance and Staking Operations<\/b><\/p> \nDuring the first quarter of 2026, TaoWeave earned approximately 348 TAO tokens through staking, representing $86,000 of revenue at a segment gross margin of 93%. The Company sold 1,457 TAO tokens for cash proceeds of $522,000 to fund operations, recognizing a realized gain of $52,000 on the sale. As of March 31, 2026, the Company held approximately 23,557 TAO tokens with a fair market value of $7.2 million, representing approximately 72% of total assets, up from 66% at year-end 2025. The Company recorded an unrealized gain of $2.2 million on its TAO holdings for the quarter, reflecting the appreciation in the spot price of TAO from December 31, 2025 to March 31, 2026.<\/p> \nAll TAO holdings remain fully staked across the Company\u2019s institutional custodians, BitGo Trust Company and Kraken. Subsequent to quarter-end, the Company purchased an additional 1,900 TAO tokens for $506,000 in April 2026, bringing total TAO holdings to approximately 25,663 tokens as of the date of this release.<\/p> \nFirst Quarter 2026 Segment Results<\/b><\/p> \nTaoWeave reports results across three operating segments: Digital Assets, Managed Services, and Collaboration Products. Segment performance for the first quarter of 2026 was as follows:<\/p> \nBittensor Ecosystem Activities<\/b><\/p> \nOver the past eight months, TaoWeave has evaluated approximately 30 Bittensor subnet teams operating in enterprise verticals where its senior leadership has previously operated. The markets evaluated include AI infrastructure and cloud computing, AI model development and training, enterprise computer vision, AI-driven trading, investment strategy and prediction markets, and AI-driven pharmaceutical research and drug discovery.<\/p> \nThrough this diligence process, TaoWeave has identified several subnet teams developing differentiated technologies and beginning to demonstrate early signs of commercial traction. TaoWeave believes a number of these teams could benefit from a strategic partner with experience in enterprise go-to-market execution, customer acquisition, operational scaling, and translating technical innovation into contracted recurring revenue opportunities.<\/p> \nTaoWeave believes its operating background, enterprise relationships, and public market platform position TaoWeave to support the commercialization efforts of select subnet teams as the Bittensor ecosystem continues to mature.<\/p> \nManagement Commentary<\/b><\/p> \n\u201cEight months of evaluating subnet teams across the Bittensor ecosystem has uncovered some great teams and services that have imminent traction in the commercial market,\u201d said Pete Holst, Chief Executive Officer. \u201cThe technical work and the speed at which many of these teams are building is impressive, and a testament to how Bittensor is designed. The challenge several of them are working through is the same one every technology company faces at the transition from early product market fit to commercial scale. Building the infrastructure is one discipline. Scaling that infrastructure into contracted enterprise revenue is another. It requires capital ahead of revenue, enterprise sales and customer success capabilities, financial controls that can withstand customer diligence, and the operational and reporting discipline institutional customers expect.\u201d<\/p> \nMr. Holst continued, \u201cFrom those evaluations we have identified a small number of teams where TaoWeave believes its operating experience and enterprise background could provide meaningful strategic value beyond capital alone. As the Bittensor ecosystem continues to mature, we believe opportunities will emerge for experienced operators to help bridge the gap between technical innovation and enterprise adoption.\u201d<\/p> \nForward-Looking Statements and Risk Factors<\/b><\/p> \nThis press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that TaoWeave assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements. TaoWeave\u2019s actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to TaoWeave\u2019s anticipated involvement in the Bittensor ecosystem. The forward-looking statements are based on management\u2019s current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. Digital assets are highly volatile, and actual results may differ materially due to price fluctuations, regulatory changes, technological risks, or other factors described in the Company\u2019s SEC filings. The Company\u2019s concentration in TAO tokens represents significant market risk. A list and description of these and other risk factors can be found in the Company\u2019s Annual Report on Form 10-K for the year ending December 31, 2025, the Company\u2019s Form 10-Q filed on May 15, 2026, and in other filings made by the Company with the SEC from time to time. Any of these factors could cause TaoWeave\u2019s actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.<\/p> \nNon-GAAP Financial Information<\/b><\/p> \nAdjusted EBITDA is a non-GAAP financial measure. See \u201cGAAP to Non-GAAP Reconciliation\u201d below for a reconciliation to net income (loss).<\/p> \nAbout TaoWeave, Inc.<\/b><\/p> \nTaoWeave, Inc. (Nasdaq: TWAV) is a public company focused on the Bittensor ecosystem, a decentralized, open-source protocol that coordinates the development and deployment of artificial intelligence models. The Company holds and stakes TAO, Bittensor\u2019s native cryptocurrency, as its principal treasury asset and is planning to actively build an operating business around partnerships with Bittensor subnet development teams, with the objective of accelerating the commercial adoption of decentralized AI applications in North America. TaoWeave also operates legacy businesses centered around its patented Mezzanine\u2122 product line and managed services for video collaboration and network solutions.<\/p> \nTAOWEAVE, INC.<\/b><\/p><\/td><\/tr>\n \nCONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p><\/td><\/tr>\n \n($ in thousands, except shares, par value, and stated value)<\/b><\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \nMarch 31, 2026<\/p><\/td> \n\u00a0<\/p><\/td> \nDecember 31, 2025<\/p><\/td><\/tr>\n \nASSETS<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(unaudited)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCurrent assets:<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCash and cash equivalents<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n2,130<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n2,258<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nDigital assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n7,209<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n5,395<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nAccounts receivable, net<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n135<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n138<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nPrepaid expenses and other current assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n500<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n424<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal current assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n9,974<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n8,215<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nOther assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n3<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n4<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal assets<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n9,977<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n8,219<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nLIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCurrent liabilities:<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nAccounts payable<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n272<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n112<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nAccrued expenses and other current liabilities<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n973<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,061<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nDeferred revenue<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n6<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n13<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal current liabilities<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,251<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,186<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal liabilities<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,251<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,186<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCommitments and contingencies (see Note 10)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nStockholders\u2019 equity:<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nPreferred stock Series F, convertible; $0.0001 par value; $176,000 stated value; 42,000 shares authorized, 150 shares issued and outstanding as of March 31, 2026 and December 31, 2025<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCommon stock; $0.0001 par value; 150,000,000 shares authorized, 3,327,399 shares issued, and 3,327,210 outstanding as of March 31, 2026 and December 31, 2025<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTreasury Stock, 189 common shares<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(181<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(181<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nAdditional paid-in capital<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n245,839<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n245,843<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nAccumulated deficit<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(236,932<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(238,629<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nTotal stockholders\u2019 equity<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n8,726<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n7,033<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal liabilities and stockholders\u2019 equity<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n9,977<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n8,219<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTAOWEAVE, INC.<\/b><\/p><\/td><\/tr>\n \nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p><\/td><\/tr>\n \n($ in thousands) (Unaudited)<\/b><\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \nThree Months Ended<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \nMarch 31,<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n2026<\/p><\/td> \n\u00a0<\/p><\/td> \n2025<\/p><\/td><\/tr>\n \nRevenue<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n707<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n622<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nCost of revenue<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n237<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n373<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nGross profit<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n470<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n249<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nOperating expenses:<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nResearch and development<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n3<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nSales and marketing<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n7<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n8<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nGeneral and administrative<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,022<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n929<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nTotal operating expenses<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,029<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n940<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nOperating loss<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(559<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(691<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nInterest income, net<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n6<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n26<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nRealized gain on digital assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n52<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nUnrealized gain on digital assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n2,198<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nOther income, net<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n2,256<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n26<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nIncome (loss) before income taxes<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n1,697<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(665<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nIncome tax expense<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n7<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nNet income (loss)<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n1,697<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n(672<\/p><\/td> \n)<\/p><\/td><\/tr>\n<\/table> \nGAAP to Non-GAAP Reconciliation:<\/span><\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \nThree Months Ended<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \nMarch 31,<\/p><\/td><\/tr>\n \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n2026<\/p><\/td> \n\u00a0<\/p><\/td> \n2025<\/p><\/td><\/tr>\n \nNet income (loss)<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n1,697<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n(672<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nInterest income, net<\/p><\/td> \n\u00a0<\/p><\/td> \n(6<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(26<\/p><\/td> \n)<\/p><\/td><\/tr>\n \nRealized gain on digital assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(52<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nUnrealized gain on digital assets<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n(2,198<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nIncome tax expense<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n7<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nStock-based expense<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n84<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u00a0<\/p><\/td> \n\u2014<\/p><\/td> \n\u00a0<\/p><\/td><\/tr>\n \nAdjusted EBITDA loss<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n(475<\/p><\/td> \n)<\/p><\/td> \n\u00a0<\/p><\/td> \n$<\/p><\/td> \n(691<\/p><\/td> \n)<\/p><\/td><\/tr>\n<\/table> \n\u00a0<\/p>\n
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\n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table> \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n