$SWRD
Stewards, Inc.
CIK:0001795851|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($) shares in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues | ||||
| Revenue | $ 1,069,000 | $ 3,315,000 | $ 2,539,000 | $ 6,680,000 |
| Income from rental property | 2,399,000 | 0 | 4,783,000 | 0 |
| Revenue | 3,468,000 | 3,315,000 | 7,322,000 | 6,680,000 |
| Cost of revenue | ||||
| Financing and brokerage | 197,000 | 722,000 | 471,000 | 1,376,000 |
| Rental property | 1,476,000 | 0 | 2,782,000 | 0 |
| Total cost of revenue | 1,673,000 | 722,000 | 3,253,000 | 1,376,000 |
| Gross profit | 1,795,000 | 2,593,000 | 4,069,000 | 5,304,000 |
| Operating expenses | ||||
| General and administrative expenses | 2,987,000 | 2,097,000 | 5,742,000 | 4,058,000 |
| Provision (benefit) for credit losses | (51,000) | 481,000 | 251,000 | 1,047,000 |
| Depreciation and amortization | 1,928,000 | 61,000 | 4,320,000 | 123,000 |
| Professional fees | 901,000 | 753,000 | 1,924,000 | 1,327,000 |
| Total operating expenses | 5,765,000 | 3,392,000 | 12,237,000 | 6,555,000 |
| Loss from operations | (3,970,000) | (799,000) | (8,168,000) | (1,251,000) |
| Other income (expense) | ||||
| Interest expense | (3,348,000) | (1,488,000) | (6,078,000) | (2,783,000) |
| Financing charges (income) | 57,000 | 84,000 | (34,000) | 65,000 |
| Change in fair value of warrant liabilities | (57,000) | 0 | 1,364,000 | 0 |
| Other gain (loss) | 82,000 | (4,000) | (27,000) | (12,000) |
| Total other income (expense) | (3,266,000) | (1,408,000) | (4,775,000) | (2,730,000) |
| Loss before income taxes | (7,236,000) | (2,207,000) | (12,943,000) | (3,981,000) |
| Provision for income taxes | 0 | 0 | 0 | 0 |
| Net loss | (7,236,000) | (2,207,000) | (12,943,000) | (3,981,000) |
| Dividend on preferred stock | (695,000) | (210,000) | (1,342,000) | (349,000) |
| Net loss attributed to common stockholders - basic | $ (7,931,000) | $ (2,417,000) | $ (14,285,000) | $ (4,330,000) |
| Net Loss Per Common Share - basic (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.07) | $ (0.04) |
| Net Loss Per Common Share - diluted (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.07) | $ (0.04) |
| Weighted-Average Common Shares Outstanding - basic (in shares) | 209,124 | 112,639 | 208,881 | 106,509 |
| Weighted-Average Common Shares Outstanding - diluted (in shares) | 209,124 | 112,639 | 208,881 | 106,509 |
| Comprehensive Loss | ||||
| Net loss | $ (7,236,000) | $ (2,207,000) | $ (12,943,000) | $ (3,981,000) |
| Unrealized gain (loss) on foreign currency translation | 0 | 0 | 0 | 2,000 |
| Total comprehensive loss | $ (7,236,000) | $ (2,207,000) | $ (12,943,000) | $ (3,979,000) |