StableX Technologies (SBLX) Q1 2026 earnings summary

Executive summary

• Initiated a strategic transition in April 2026 to focus on fabless semiconductor technologies for AI data center infrastructure, including MicroLED-based optical interconnects.

• Entered a Joint Development and License Agreement (JDA) with Kopin Corporation to co-develop the Neural I/O™ chip, targeting high-bandwidth, low-latency GPU-to-GPU connectivity for AI data centers.

• Changed corporate name to Fabric.AI, Inc. and ticker to FABC, effective April 28, 2026.

• No revenue generated from semiconductor operations to date; business remains in development stage.

Financial highlights

• Reported net loss of $2.41 million for Q1 2026, compared to net income of $0.85 million in Q1 2025.

• Operating expenses decreased to $1.70 million from $1.97 million year-over-year, driven by lower R&D and G&A costs.

• Cash and cash equivalents as of March 31, 2026, were $3.26 million, with $3.42 million in marketable securities.

• Subsequent to quarter-end, completed a $21.5 million Series K Preferred Stock private placement, increasing pro forma cash to $22.7 million.

• Working capital as of March 31, 2026, was $6.48 million.

Outlook and guidance

• Management expects R&D expenses to increase as Neural I/O™ chip development accelerates.

• Sufficient liquidity to fund operations for at least the next twelve months following recent financings.

• No revenue expected until successful product development and commercialization.