RenovoRx (RNXT) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $909,000, up 61% sequentially and 115% year-over-year, driven by expanding commercial cancer centers, repeat orders, and first use of RenovoCath in sarcoma.

• Ended Q2 2026 with 21 active commercial cancer centers, up from 16 in Q1, with a commercial pipeline of 63 centers.

• Raised 2026 annual revenue guidance to $3.75M–$4.25M, reflecting strong first-half performance and robust commercial pipeline.

• Phase III TIGER-PaC trial reached full enrollment; completion expected in H1 2027 with topline data in H2 2027.

• Physician-driven expansion and strong repeat orders signal growing adoption and satisfaction.

Financial highlights

• Q2 2026 revenue: $909,000 (up 61% from Q1 2026, up 115% from Q2 2025); H1 2026 revenue: $1.47 million.

• Gross profit: $766,000, gross margin ~84%.

• Net loss for Q2 2026: $2.9M, net loss per share: $0.06 (improved from $0.08 in Q2 2025 and $0.09 sequentially).

• Cash and equivalents: $9.5M as of June 30, 2026, expected to fund operations into H2 2027.

• Operating expenses for Q2 2026: $4.12 million; non-GAAP net loss: $2.34M.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $3.75–$4.25 million, implying 241%–286% year-over-year growth.

• Targeting 36+ active commercial centers by year-end 2026.

• Break-even operations anticipated in Q4 2027, with a $5 million quarterly revenue run rate as the target.

• Q3 2026 revenue expected to exceed Q2, continuing record-setting trend.

• TIGER-PaC trial completion expected in H1 2027, with top-line data in H2 2027.