Factorial Energy Inc.
For the period ended Jun 30, 2026. Filed Aug 11, 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.
Jun 30, 2026 · Filed Aug 11, 2026
FAC$4.26-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Operating expenses: | ||||
| Research and development, net (includes $10 and $140 for the three months ended June 30, 2026 and 2025, respectively; and $10 and $165 for the six months ended June 30, 2026 and 2025, respectively, of related party research and development reimbursement) | $(6,582) | $(6,745) | $(8,524) | $(13,499) |
| Selling, general and administrative (includes $65 and $44 for the three months ended June 30, 2026 and 2025, respectively; and $153 and $88 for the six months ended June 30, 2026 and 2025, respectively, of related party expenses) | (6,379) | (4,657) | (10,928) | (11,025) |
| Total operating expenses | (12,961) | (11,402) | (19,452) | (24,524) |
| Loss from operations | (12,961) | (11,402) | (19,452) | (24,524) |
| Other income (expense), net: | ||||
| Financing costs related to issuance of convertible promissory notes – related parties | — | — | (37) | — |
| Change in fair value of convertible promissory notes – related parties | (2,384) | — | (3,791) | — |
| Change in fair value of convertible promissory notes | (964) | — | (1,264) | — |
| Change in fair value of Series B-1 and Series D warrant liabilities (includes related party loss of $229 and $0 for the three months ended June 30, 2026 and 2025, respectively; and $262 and $0 for the six months ended June 30, 2026 and 2025, respectively) | (293) | — | (399) | — |
| Change in fair value of warrant liability for Series A Common Stock | 4,738 | — | 4,738 | — |
| Other income, net | 523 | 833 | 289 | 1,085 |
| Total other income (expenses), net | 1,620 | 833 | (464) | 1,085 |
| Loss before income taxes | $(11,341) | $(10,569) | $(19,916) | $(23,439) |
| Income tax expense | — | — | — | — |
| Net loss | $(11,341) | $(10,569) | $(19,916) | $(23,439) |
| Net loss attributable to common stockholders - basic | $(11,341) | $(10,569) | $(19,916) | $(23,439) |
| Net loss attributable to common stockholders - diluted | $(16,079) | $(10,569) | $(24,654) | $(23,439) |
| Net loss per share attributable to common stockholders - basic | $(0.61) | $(0.57) | $(1.07) | $(1.27) |
| Net loss per share attributable to common stockholders - diluted | $(0.85) | $(0.57) | $(1.32) | $(1.27) |
| Weighted-average common stock outstanding - basic | 18,594,006 | 18,423,699 | 18,571,685 | 18,486,699 |
| Weighted-average common stock outstanding - diluted | 18,934,279 | 18,423,699 | 18,742,761 | 18,486,699 |
| Other comprehensive loss: | ||||
| Foreign currency translation adjustments | (76) | (182) | (374) | (174) |
| Comprehensive loss | $(11,417) | $(10,751) | $(20,290) | $(23,613) |
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)(UNAUDITED)
(In thousands, except share data)
| RedeemableConvertiblePreferred Stock$0.00001 Par Value · Series A Common Stock$0.00001 Par Value · Series B Common Stock$0.00001 Par Value · Additional Paid-In Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveLoss · TotalStockholders’Equity (Deficit) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount | |||||||||||||||||||||
| Balance, December 31, 2025, as recast for the reverse recapitalization | 67,314,957 | $249,652 | 2,973,957 | $— | 15,512,742 | $2 | $34,625 | $(255,576) | $(445) | $(221,394) | |||||||||||
| Issuance of Series A Common Stock from stock option exercises | — | — | 107,308 | — | — | — | 90 | — | — | 90 | |||||||||||
| Stock based compensation | — | — | — | — | — | — | 1,534 | — | — | 1,534 | |||||||||||
| Foreign currency translation adjustments | — | — | — | — | — | — | — | — | (298) | (298) | |||||||||||
| Net loss | — | — | — | — | — | — | — | (8,575) | — | (8,575) | |||||||||||
| Balance, March 31, 2026 | 67,314,957 | $249,652 | 3,081,265 | $— | 15,512,742 | $2 | $36,249 | $(264,151) | $(743) | $(228,643) | |||||||||||
| Conversion of redeemable convertible preferred stock into Series A Common Stock | (67,314,957) | (249,652) | 67,314,957 | 7 | — | — | 249,645 | — | — | 249,652 | |||||||||||
| Issuance of common stock in connection with reverse recapitalization and PIPE Financing, net of issuance costs | — | — | 21,114,279 | 2 | — | — | 123,721 | — | — | 123,723 | |||||||||||
| Reclassification of warrant liability for Series A Common Stock from equity | — | — | — | — | — | — | (49,354) | — | — | (49,354) | |||||||||||
| Stock based compensation | — | — | — | — | — | — | 1,038 | — | — | 1,038 | |||||||||||
| Foreign currency translation adjustments | — | — | — | — | — | — | — | — | (76) | (76) | |||||||||||
| Net loss | — | — | — | — | — | — | — | (11,341) | — | (11,341) | |||||||||||
| Balance, June 30, 2026 | — | $— | 91,510,501 | $9 | 15,512,742 | $2 | $361,299 | $(275,492) | $(819) | $84,999 | |||||||||||
| RedeemableConvertiblePreferred Stock$0.00001 Par Value · Series A Common Stock$0.00001 Par Value · Series B Common Stock$0.00001 Par Value · Additional Paid-In Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · TotalStockholders’Deficit | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount | ||||||||||
| Balance, December 31, 2024, as recast for the reverse recapitalization | 67,314,957 | $249,652 | 2,888,163 | $— | 15,512,742 | $2 | $25,157 | $(181,731) | $76 | $(156,496) |
| Issuance of Series A Common Stock from stock option exercises | — | — | 1,101 | — | — | — | 2 | — | — | 2 |
| Stock based compensation | — | — | — | — | — | — | 3,857 | — | — | 3,857 |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | — | 8 | 8 |
| Net loss | — | — | — | — | — | — | — | (12,870) | — | (12,870) |
| Balance, March 31, 2025 | 67,314,957 | $249,652 | 2,889,264 | $— | 15,512,742 | $2 | $29,016 | $(194,601) | $84 | $(165,499) |
| Issuance of Series A Common Stock from stock option exercises | — | — | 3,977 | — | — | — | 4 | — | — | 4 |
| Stock based compensation | — | — | — | — | — | — | 1,749 | — | — | 1,749 |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | — | (182) | (182) |
| Net loss | — | — | — | — | — | — | — | (10,569) | — | (10,569) |
| Balance, June 30, 2025 | 67,314,957 | $249,652 | 2,893,241 | $— | 15,512,742 | $2 | $30,769 | $(205,170) | $(98) | $(174,497) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.