Bio Green Med Solution (BGMS) Q2 2026 earnings summary

Executive summary

• Shifted focus from biopharmaceuticals to fire safety products after acquiring Fitters Sdn. Bhd. in September 2025, now operating primarily in Malaysia.

• Entered into a Business Combination Agreement in June 2026 to acquire Future NRG Sdn. Bhd., which would result in FNRG shareholders owning over 99% of the combined company if completed.

• Raised $794,403 in June 2026 through a private placement of 1,103,338 common shares at $0.72 per share.

• Declared and paid a quarterly cash dividend of $0.15 per share on 6% Convertible Exchangeable Preferred Stock.

• Deconsolidated UK subsidiary Cyclacel Limited in January 2025, resulting in a $5.0 million gain from discontinued operations.

Financial highlights

• Revenue for the six months ended June 30, 2026: $1.1 million, all from fire safety product sales.

• Product revenue from fire safety equipment was $336,000 for Q2 2026.

• Net loss for the six months ended June 30, 2026: $0.6 million, improved from $1.4 million loss in the prior year.

• Net loss for Q2 2026 was $0.4 million, a significant improvement from $1.3 million in Q2 2025.

• Gross margin for the six months ended June 30, 2026: approximately 20%; for Q2 2026: approximately 23%.

• Cash and cash equivalents as of June 30, 2026: $3.8 million.

• Accumulated deficit as of June 30, 2026: $455.0 million.

Outlook and guidance

• Revenues from fire safety expected to grow modestly in the near term, with higher growth anticipated from data center expansion in Malaysia.

• General and administrative expenses projected to decrease significantly in 2026 due to absence of prior year one-time costs.

• Current cash resources are expected to fund planned expenditures into Q1 2027.

• Company is seeking additional capital through equity financing or strategic transactions to address liquidity concerns.