$CFOR

OPGEN INC

CIK:0001293818|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 50,000,000	$ 4,000,000	$ 50,000,000	$ 4,000,000
Operating expenses
Cost of services	5,000,000		5,000,000
Research and development, net	136		2,587
General and administrative	713,110	594,838	1,510,707	1,108,182
Sales and marketing	390	2,387	5,146	11,889
Total operating expenses	5,713,636	597,225	6,518,440	1,120,071
Operating income	44,286,364	3,402,775	43,481,560	2,879,929
Other income (expense)
Interest and other income, net	94,570	108,843	187,439	226,688
Interest expense	(2,014)	(1,623)	(3,009)	(4,861)
Foreign currency transaction (losses) gains	(4,305)	(3)	(1,946)	103
Total other income (expense)	88,251	107,217	182,484	221,930
Income before income taxes	44,374,615	3,509,992	43,664,044	3,101,859
Provision for income taxes	(1,903,533)	0	(1,903,533)	0
Net income	42,471,082	3,509,992	41,760,511	3,101,859
Net income allocated to preferred stockholders	(208,279)	(21,166)	(204,795)	(18,705)
Net income available to common stockholders	$ 42,262,803	$ 3,488,826	$ 41,555,716	$ 3,083,154
Earnings per share attributable to common stockholders
Basic	$ 3.41	$ 0.35	$ 3.43	$ 0.31
Diluted	$ 3.38	$ 0.34	$ 3.28	$ 0.30
Weighted average shares outstanding
Basic	12,378,671	10,071,286	12,110,139	10,071,183
Diluted	12,489,103	10,167,567	12,669,141	10,207,942
Net income	$ 42,471,082	$ 3,509,992	$ 41,760,511	$ 3,101,859
Other comprehensive income (loss) - foreign currency translation	841		(1,023)
Comprehensive income	42,471,923	3,509,992	41,759,488	3,101,859
Listing sponsorship services [Member]
Revenue
Total revenue	$ 50,000,000	$ 4,000,000	$ 50,000,000	$ 4,000,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 41,760,511	$ 3,101,859
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	101,934	92,959
Stock compensation expense	180,404	182,958
Changes in operating assets and liabilities:
Accounts receivable	(50,009,850)	(4,009,700)
Prepaid expenses and other current assets	(95,806)	63,130
Deferred offering costs		6,269
Intangible assets		12,500
Accounts payable	2,080,822	52,727
Accrued compensation and benefits	16,007	(33,886)
Accrued liabilities	5,080,905	(6,109)
Operating lease liabilities	(97,018)	(83,044)
Net cash used in operating activities	(982,091)	(645,337)
Cash flows from investing activities:
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	480,000
Proceeds from short term insurance financing	230,176	284,304
Payments on short term insurance financing	(109,123)	(117,986)
Net cash provided by financing activities	601,053	166,318
Effects of exchange rates on cash	(1,023)
Net decrease in cash, cash equivalents and restricted cash	(382,061)	(479,019)
Cash and cash equivalents and restricted cash at beginning of period	833,539	1,612,915
Cash and cash equivalents and restricted cash at end of period	451,478	1,133,896
Supplemental disclosure of cash flow information
Cash paid for interest	$ 3,009	$ 4,861

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 143,781	$ 531,277
Accounts receivable, net	50,258,621	248,771
Prepaid expenses and other current assets	303,984	208,178
Total current assets	50,706,386	988,226
Property and equipment, net	853,187	928,550
Operating lease right-of-use assets	759,564	786,135
Investment in equity securities	35,000,000	35,000,000
Intangible assets, net	50,000	50,000
Restricted cash	307,697	302,262
Total assets	87,676,834	38,055,173
Current liabilities:
Accounts payable	3,162,758	1,081,936
Accrued compensation and benefits	46,215	30,208
Accrued liabilities	8,232,390	3,151,485
Short-term insurance financing	208,050	86,997
Current portion of operating lease liabilities	218,087	202,490
Total current liabilities	11,867,500	4,553,116
Operating lease liabilities, net of current portion	1,532,784	1,645,399
Total liabilities	13,400,284	6,198,515
Stockholders’ equity:
Common stock, $0.01 par value; 100,000,000 shares authorized; 12,398,054 and 10,149,411 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	123,981	101,494
Additional paid-in capital	302,271,230	301,621,893
Common stock issuable		11,420
Accumulated deficit	(228,119,955)	(269,880,466)
Accumulated other comprehensive income	1,292	2,315
Total stockholders’ equity	74,276,550	31,856,658
Total liabilities and stockholders’ equity	87,676,834	38,055,173
Series D Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value	$ 2	$ 2