BOXABL Inc.

CIK:0001816937|SEC Filings

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenues	$ 1,556	$ 123
Cost of goods sold	4,909	2,118
Gross loss	(3,353)	(1,995)
Operating expenses:
General and administrative	3,189	1,807
Sales and marketing	525	6,350
Research and development	566	583
Total operating expenses	4,280	8,740
Loss from operations	(7,633)	(10,735)
Other income (expense):
Interest income	209	302
Mark-to-market adjustment on digital assets	(197)
Other income	42	170
Total other income (expense), net:	54	472
Net loss attributed to common stockholders	$ (7,579)	$ (10,263)
Weighted average common shares outstanding - basic	3,000,000	3,000,000
Weighted average common shares outstanding - diluted	3,000,000	3,000,000
Net loss per common share - basic	$ (0.00)	$ (0.00)
Net loss per common share - diluted	$ (0.00)	$ (0.00)
Comprehensive Loss
Net Loss	$ 7,579	$ 10,263
Unrealized loss on investments		35
Comprehensive Loss	$ 7,579	$ 10,298

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net loss	$ (7,579)	$ (10,263)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	327	466
–Stock based compensation net recapture	(216)	(2,943)
Provision for credit losses (recoveries)	(93)	52
Mark to market on digital assets	197
Inventory valuation adjustments	1,897	2,149
Reserve for inventory obsolescence	964
Changes in operating assets and liabilities:
Accounts receivable	(990)	53
Escrow receivable	(55)	(2,311)
Inventories	(1,880)	(1,655)
Other current assets	(229)	(342)
Loan receivable	3	(172)
Accounts payable	738	(487)
Deferred revenue	261	359
Customer deposits	(264)	(132)
Other long term assets	29
Accrued expenses and other current liabilities	(161)	452
Right of use assets and liabilities	(47)	(11)
Net cash used in operating activities	(7,098)	(14,785)
Cash flows provided by investing activities:
Purchase of property and equipment		(100)
Deposits on equipment	(175)
Purchase of intangible assets	(16)	(16)
Gross proceeds from sale and maturities of investments		8,798
Net cash (used in) provided by investing activities	(191)	8,682
Cash flows provided by financing activities:
Proceeds from sale of preferred stock, net of offering costs and escrows		12,007
Proceeds from exercise of warrants	516
Proceeds (settlements) of subscription liability	26	(241)
Net cash and cash equivalents provided by financing activities	542	11,766
Change in cash, cash equivalents, and restricted cash	(6,747)	5,663
Cash, cash equivalents, and restricted cash beginning of year	32,990	9,630
Cash, cash equivalents, and restricted cash end of the period	26,243	15,293
Non cash investing and financing activities:
Investments held in escrow		1,728
Purchase of assets in accounts payable		68
Cash and cash equivalents	22,256	11,392
Restricted cash	3,987	3,901
Cash, cash equivalents, and restricted cash end of the period	$ 26,243	$ 15,293

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 22,256	$ 29,022
Accounts receivable	1,127	41
Loan receivable – current	16	20
Escrow receivable	189	135
Inventories, net	18,177	18,848
Other current assets	1,026	798
Total current assets	42,791	48,864
Non-current assets:
Restricted cash	3,987	3,968
Property and equipment, net	6,864	7,335
Digital assets	696	893
Intangible assets, net	346	498
Right of use assets, net	5,773	6,646
Deposits on equipment	268	93
Loan receivable - non-current	20	20
Security deposits	854	854
Other long term assets	59	88
Total non-current assets	18,867	20,395
Total assets	61,658	69,259
Current liabilities:
Accounts payable	1,720	984
Customer deposits	3,287	3,551
Deferred revenue	1,809	1,548
Lease liability- current	3,298	3,520
Subscription liability	26
Accrued expenses and other current liabilities	1,830	1,991
Total current liabilities	11,970	11,594
Long-term liabilities:
Lease liability - non-current	2,950	3,648
Total liabilities	14,920	15,242
Commitments and contingencies – See Note 13
Stockholders’ equity:
Common Stock $0.00001 par, 17.8 billion shares authorized, 3.00 billion shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	30	30
Additional paid-in capital	15,058	15,274
Accumulated deficit	(783,563)	(775,984)
Total stockholders’ equity	46,738	54,017
Total liabilities and stockholders’ equity	61,658	69,259
Series A Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock Value	2,566	2,566
Series A-1 Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock Value	634,479	634,479
Series A-2 Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock Value	101,003	101,003
Series A-3 Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock Value	77,165	76,649
Unclassified Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock Value