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Capstone Holding Corp.

For the period ended Sep 30, 2025. Filed Nov 18, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 18, 2025

CAPS$1.90+0.2%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period endedSeptember 30,2025

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to ________________

Commission file number001-41775

Capstone Holding Corp.

(Exact name of registrant as specified in its charter)

Delaware86-0585310
(State or other jurisdiction of incorporation or organization)(I. R. S. Employer Identification No.)
5141 W. 122nd Street Alsip, IL60803
(Address of principal executive offices)(Zip Code)

(708) 371-0660

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockCAPSThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☐
Non-accelerated filer ☒Smaller reporting company ☒
Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act). Yes ☐ No☒

The number of shares of the registrant’s common stock outstanding as of November 14, 2025 was 8,306,205 shares.

TABLE OF CONTENTS

Page
PART I1
ITEM 1:FINANCIAL STATEMENTS1
Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31, 20241
Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2025 and 2024 (Unaudited)2
Consolidated Statements of Stockholders’ Equity (Deficit) for the Three and Nine Months Ended September 30, 2025 and 2024 (Unaudited)3
Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024 (Unaudited)4
Notes to Consolidated Financial Statements (Unaudited)5
ITEM 2:MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION17
ITEM 3:QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK24
ITEM 4:CONTROLS AND PROCEDURES24
PART II25
ITEM 1:LEGAL PROCEEDINGS25
ITEM 1A:RISK FACTORS25
ITEM 2:UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS25
ITEM 3:DEFAULTS UPON SENIOR SECURITIES25
ITEM 5:OTHER INFORMATION25
ITEM 6:EXHIBITS26
SIGNATURES27

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.