PURE BIOSCIENCE, INC.
For the period ended Jan 31, 2026. Filed Mar 17, 2026.
View on SEC.govAbout 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.
Jan 31, 2026 · Filed Mar 17, 2026
PUREStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-10-31; filed 2025-12-15.
0001493152-25-027749
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-01-31; filed 2026-03-17.
0001493152-26-010385
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 69 previous paragraphs and 77 current paragraphs.
51 unchanged; 12 reworded; 10 added; 5 removed; 1 previous and 4 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (10)
Current report
For the three months ended January 31, 2026, no individual customer accounted for 10% or more of net product sales. All of our net product sales were U.S. based sales.
Current report
For the three months ended January 31, 2025, one customer accounted for 12% of net product sales, respectively. No other individual customer accounted for 10% or more of our net product sales. All of our net product sales were U.S. based sales.
Current report
Cost of goods sold was $206,000 and $164,000 for the three months ended January 31, 2026 and 2025, respectively. The increase of $42,000 was primarily attributable to increased sales.
Current report
Comparison of the Six Months Ended January 31, 2026 and 2025
Current report
Net product sales were $1,150,000 and $946,000 for the six months ended January 31, 2026 and 2025, respectively. The increase of $204,000 was attributable to increased sales across our end user network. Our top customer accounted for $342,000 of net product sales for the six months ended January 31, 2026.
Current report
Cost of goods sold was $464,000 and $395,000 for the six months ended January 31, 2026 and 2025, respectively. The increase of $69,000 was primarily was due to increased sales.
Current report
Selling, General and Administrative Expense
Current report
Research and Development Expense
Current report
Interest Expense
Current report
Interest expense was $195,000 and $132,000 for the six months ended January 31, 2026 and 2025, respectively. The increase of $63,000 was primarily due to accrued interest on the convertible notes.
Removed paragraphs (5)
Previous report
Net Product Sales
Previous report
Cost of Goods Sold
Previous report
Net Product Sales
Previous report
Cost of Goods Sold
Previous report
Cost of goods sold was $258,000 and $231,000 for the three months ended October 31, 2025 and 2024, respectively. The current year increase was primarily attributable to increased sales.
Reworded paragraphs (12)
Previous wording
Net product sales were $707,000 and $555,000 for the three months ended October 31, 2025 and 2024, respectively. The increase of $152,000 was attributable to increased sales across our end user customer base. Our top customer accounted for $301,000 of net product sales for the three months ended October 31, 2025.
Current wording
Net product sales were $443,000 and $391,000 for the three months ended January 31, 2026 and 2025, respectively. The increase of $52,000 was attributable to increased sales across our end-user network. Our top customer accounted for $33,000 of net product sales for the three months ended January 31, 2026.
Previous wording
Selling, general and administrative expense was $743,000 and $881,000 for the three months ended October 31, 2025 and 2024, respectively. The decrease of $138,000 was primarily attributable to decreased board fees, personnel costs and facilities expenses. These decreases were partially offset by increased marketing expense.
Current wording
Selling, general and administrative expense was $847,000 and $871,000 for the three months ended January 31, 2026 and 2025, respectively. The decrease was primarily attributable to decreased board fees, personnel costs and facilities expenses. These decreases were partially offset by increased marketing expense.
Previous wording
Share-based compensation expense, included in selling, general and administrative expense, was $34,000 and $57,000 for the three months ended October 31, 2025 and 2024, respectively. The decrease of $23,000 is primarily due to the prior year vesting of stock options granted to employees, directors and consultants supporting our selling, general and administrative functions.
Current wording
Share-based compensation expense, included in selling, general and administrative expense, was $58,000 and $27,000 for the three months ended January 31, 2026 and 2025, respectively. The increase of $31,000 is primarily due to the current year vesting of stock options granted to employees, directors and consultants supporting our selling, general and administrative functions.
Previous wording
Research and development expense, primarily consisting of third-party fees and personnel costs, was $86,000 and $71,000 for the three months ended October 31, 2025 and 2024, respectively.
Current wording
Research and development expense, primarily consisting of third-party fees and personnel costs, was $74,000 and $81,000 for the three months ended January 31, 2026 and 2025, respectively.
Previous wording
Interest expense was $94,000 and $62,000 for the three months ended October 31, 2025 and 2024, respectively. The increase of $32,000 was due to accrued interest on the convertible notes payable due to related parties.
Current wording
Interest expense was $101,000 and $70,000 for the three months ended January 31, 2026 and 2025, respectively. The increase of $31,000 was primarily due to accrued interest on the convertible notes.
Previous wording
For the three months ended October 31, 2025, one individual customer accounted for 43% of our net product sales. No other individual customer accounted for 10% or more of our net product sales. All of our net product sales were U.S. based sales.
Current wording
For the six months ended January 31, 2026, one individual customer accounted for 30% of our net product sales. No other individual customer accounted for 10% or more of our net product sales. All of our net product sales were U.S. based sales.
Previous wording
For the three months ended October 31, 2024, two individual customers accounted for 30% and 10% of our net product sales, respectively. No other individual customer accounted for 10% or more of our net product sales. All of our net product sales were U.S. based sales.
Current wording
For the six months ended January 31, 2025, two individual customers accounted for 18% and 11% of our net product sales. No other individual customer accounted for 10% or more of our net product sales. All of our net product sales were U.S. based sales.
Previous wording
During the three months ended October 31, 2025 and 2024, we recognized $1,000 in royalties from a nonexclusive third-party distributor, respectively.
Current wording
During the six months ended January 31, 2026 and 2025, we recognized $2,000 and $1,000 in royalties from a nonexclusive third-party distributor, respectively.
Previous wording
Gross margin as a percentage of net product sales, or gross margin percentage, was 64% and 58% for the three months ended October 31, 2025 and 2024, respectively. The increase in gross margin percentage was primarily attributable to the sale of higher packaging configurations of our products during the quarter ended October 31, 2025, as compared with the prior period.
Current wording
Gross margin as a percentage of net product sales, or gross margin percentage, was 60% and 58% for the six months ended January 31, 2026 and 2025, respectively. The slight increase in gross margin percentage was primarily attributable to the sale of higher margin packaging configurations of our products during the six months ended January 31, 2026, as compared with the prior period.
Previous wording
As of October 31, 2025, we had $509,000 in cash and cash equivalents compared with $409,000 in cash and cash equivalents as of July 31, 2025. The net increase in cash and cash equivalents was attributable to the note payable financing that occurred in September 2025 offset by cash used to fund operations. Additionally, as of October 31, 2025, we had $3,159,000 of current liabilities, including $879,000 in accounts payable, compared with $938,000 of current liabilities, including $784,000 in accounts payable as of July 31, 2025. The net increase in current liabilities was due to trade payables due to our vendors and the current note payable due to related parties.
Current wording
As of January 31, 2026, we had $273,000 in cash and cash equivalents compared with $409,000 in cash and cash equivalents as of July 31, 2025. The net decrease in cash and cash equivalents was attributable to cash used to fund operations offset by the note payable financings that occurred during the six months ended January 31, 2026. Additionally, as of January 31, 2026, we had $3,055,000 of current liabilities, including $767,000 in accounts payable, compared with $938,000 of current liabilities, including $784,000 in accounts payable as of July 31, 2025. The net increase in current liabilities was due to the current note payable due to related parties.
Previous wording
We have a history of recurring losses, and as of October 31, 2025 we have a stockholder deficiency of $5,546,000. During the three months ended October 31, 2025, we recorded a net loss of $464,000 on recorded net revenue of $708,000. In addition, during the three months ended October 31, 2025 we used $250,000 in operating activities resulting in a cash balance of $434,000 as of October 31, 2025. Our history of recurring operating losses, and negative cash flows from operating activities give rise to substantial doubt regarding our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from our possible inability to continue as a going concern.
Current wording
We have a history of recurring losses, and as of January 31, 2026 we have a stockholder deficiency of $6,273,000. During the six months ended January 31, 2026, we recorded a net loss of $1,249,000 on recorded net revenue of $1,152,000. In addition, during the six months ended January 31, 2026 we used $856,000 in operating activities resulting in a cash balance of $198,000 as of January 31, 2026. Our history of recurring operating losses, and negative cash flows from operating activities give rise to substantial doubt regarding our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from our possible inability to continue as a going concern.
Previous wording
Our technology platform is based on patented stabilized ionic silver, and our initial products contain silver dihydrogen citrate, or SDC. SDC is a broad-spectrum, non-toxic antimicrobial agent, which offers residual protection and formulates well with other compounds. We sell various configurations and dilutions of SDC direct to customers and through distributors. We currently offer PURE® Hard Surface as a food contact surface sanitizer and disinfectant to restaurant chains, food processors and food transportation companies. We also offer PURE Control® as a direct food contact processing aid.
Current wording
Our technology platform is based on patented stabilized ionic silver, and our initial products contain silver dihydrogen citrate, or SDC. SDC is a broad-spectrum, non-toxic antimicrobial agent, which offers 24-hour residual protection and formulates well with other compounds. We sell various configurations and dilutions of SDC direct to customers and through distributors. We currently offer PURE® Hard Surface as a food contact surface sanitizer and disinfectant to restaurant chains, food processors and food transportation companies. We also offer PURE Control® as a direct food contact processing aid.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
Gross margin as a percentage of net product sales, or gross margin percentage, was 53% and 58% for the three months ended January 31, 2026 and 2025, respectively. The decrease in gross margin percentage was primarily attributable to increased sales of higher margin packaging configurations of our products during the quarter ended January 31, 2025, as compared with the current period.
Current report — wording carried from elsewhere
Selling, general and administrative expense was $1,590,000 and $1,752,000 for the six months ended January 31, 2026 and 2025, respectively. The decrease of $162,000 was primarily attributable to decreased board fees, personnel costs and facilities expenses. These decreases were partially offset by increased marketing expense.
Current report — wording carried from elsewhere
Share-based compensation expense, included in selling, general and administrative expense, was $92,000 and $84,000 for the six months ended January 31, 2026 and 2025, respectively. The increase of $8,000 is primarily due to the current year vesting of stock options granted to employees, directors and consultants supporting our selling, general and administrative functions.
Current report — wording carried from elsewhere
Research and development expense, primarily consisting of third-party fees and personnel costs, was $160,000 and $152,000 for the six months ended January 31, 2026 and 2025, respectively.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations