$ABPWW

Abpro Holdings, Inc.

CIK:0001893219|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 9	$ 313	$ 22	$ 638
General and administrative	1,166	1,948	2,086	4,581
Total operating expenses	1,175	2,261	2,108	5,219
Loss from operations	(1,175)	(2,261)	(2,108)	(5,219)
Other (expense) income:
Gain on settlement of liabilities	219	200	219	200
Other income			2
Interest expense	(23)	(174)	(46)	(911)
Interest income	39	6	61	24
Change in fair value of forward purchase agreement asset				(23)
Change in fair value of SEPA put rights asset		(19)	(96)	(175)
Change in fair value of embedded derivative liability		(592)		(623)
Loss on settlement of convertible notes		(144)		(144)
Total other income (expense), net	235	(723)	140	(1,652)
Net loss	$ (940)	$ (2,984)	$ (1,968)	$ (6,871)
Net loss per share, basic	$ (0.16)	$ (1.56)	$ (0.38)	$ (3.8)
Net loss per share, diluted	$ (0.16)	$ (1.56)	$ (0.38)	$ (3.8)
Weighted average shares outstanding - basic (in Shares)	5,896,048	1,917,246	5,197,159	1,807,937
Weighted average shares outstanding - diluted (in Shares)	5,896,048	1,917,246	5,197,159	1,807,937

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net loss	$ (1,968)	$ (6,871)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	5	14
Share-based compensation	510	872
Amortization of operating lease right-of-use assets		281
Noncash interest expense		714
Loss on settlement of convertible notes		144
Gain on settlement of liabilities (Note 7)	(219)	(200)
Amortization of debt discount		133
Change in fair value of forward purchase agreement asset		23
Change in fair value of SEPA put rights asset	96	175
Change in fair value of embedded derivative liability		623
Changes in operating assets and liabilities:
Accounts receivable	183	(19)
Prepaid expenses and other current assets	(308)	161
Accounts payable	(945)	1,328
Accrued expenses	(488)	317
Income taxes payable		59
Operating lease liability		(306)
Net cash used in operating activities	(3,134)	(2,552)
Cash Flows from Financing Activities:
Gross proceeds from issuance of Advance Shares	7,264
Proceeds from Convertible Notes		1,840
Proceeds from settlement of Forward Purchase Agreement		132
Payments on Note payable		(383)
Payments on Notes payable, related parties	(123)
Proceeds from Notes payable, related parties	147
Net cash provided by financing activities	7,288	1,589
Net change in cash and restricted cash	4,154	(963)
Cash and restricted cash - beginning of period	82	2,992
Cash and restricted cash - end of period	4,236	2,029
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid	13	19
Accrued issuance costs for Advance Shares	508
Common stock issued in settlement of convertible notes and embedded derivative liability		3,694
Fair value of common stock issued for services		161
Prepaid expenses financed through Note payable		553
As reported within the unaudited condensed consolidated balance sheets:
Cash	4,236	2,014
Restricted cash		15
Total cash and restricted cash as presented in the balance sheet	$ 4,236	$ 2,029

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 4,236	$ 67
Accounts receivable		183
Prepaid expenses and other current assets	788	480
Security deposits	55	55
SEPA put rights asset		96
Restricted cash		15
Total current assets	5,079	896
Patents, net	162	167
Total assets	5,241	1,063
Current liabilities:
Accounts payable	4,159	5,323
Accrued expenses	3,895	3,875
Total current liabilities	8,225	9,345
Commitments and Contingencies (Note 7)
Stockholders’ deficit:
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; zero shares issued and outstanding
Common stock, $0.0001 par value; 110,000,000 shares authorized; 5,896,048 and 2,733,263 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1
Additional paid-in capital	117,429	110,164
Accumulated deficit	(120,963)	(118,995)
Total Abpro Holdings, Inc.’s stockholders’ deficit	(3,533)	(8,831)
Non-controlling interest	549	549
Total stockholders’ deficit	(2,984)	(8,282)
Total liabilities and stockholders’ deficit	5,241	1,063
Related Party
Current liabilities:
Notes payable, current – related parties	$ 171	$ 147