Nixxy, Inc.
For the period ended Jun 30, 2026. Filed Aug 12, 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 12, 2026
NIXX$0.21+2.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-13.
0001683168-26-003816
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-12.
0001683168-26-006274
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 97 previous paragraphs and 113 current paragraphs.
75 unchanged; 19 reworded; 14 added; 3 removed; 0 previous and 5 current paragraphs rearranged.
Tables are not compared: 11 previous and 31 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 (14)
Current report
Operating expenses, excluding cost of revenue described above, were approximately $1.7 million for the three-month period ended June 30, 2026, compared to $2.2 million for the corresponding three-month period ended June 30, 2025, a decrease of $584 thousand or 26%. This decrease was due to a decrease in general and administrative expenses of $958 thousand, largely due to a decrease of $600 thousand in stock compensation expense. The general and administrative decrease was partially offset by an increase of $274 thousand to amortization of intangibles related to purchases made after Q2 2025.
Current report
Product development expense for the three-months ended June 30, 2026, decreased to $2 thousand from $19 thousand for the corresponding period ended June 30, 2025.
Current report
Other income (expense) for the three-month period ended June 30, 2026, was an expense of $680 thousand compared to expense of $1.4 million in the corresponding period ended June 30, 2025. This decrease is attributable to the decrease in loss change in fair value of contingent consideration of $1.3 million, partially offset by the increase in loss on change on fair value of marketable securities of $627 thousand.
Current report
Six Months Ended June 30, 2026, Compared to Six Months Ended June 30, 2025:
Current report
Revenue
Current report
Revenue was approximately $45.2 million for the six month period ended June 30, 2026, as compared to $14.6 million for the six month period ended June 30, 2025, representing an increase of $30.6 million or 209%. The increase resulted primarily due to the expansion of the Company's telecommunication services business.
Current report
Operating Expenses
Current report
Sales and Marketing
Current report
Sales and marketing expense was approximately $127 thousand for the six month period ended June 30, 2026, compared to $558 thousand for the corresponding six month period in 2025, a decrease of $431 thousand. The decrease was primarily attributable to reducing marketing expenditures as part of the Company’s cost management initiatives in the prior quarter.
Current report
Amortization of Intangibles
Current report
General and Administrative
Current report
Other Income (Expense)
Current report
Net Income (Loss)
Current report
For the six months ended June 30, 2026, the Company had a net loss from continuing operations of $1.8 million compared to a net loss from continuing operations of $7.3 million during the corresponding six month period in 2025.
Removed paragraphs (3)
Previous report
Cost of Revenue
Previous report
Product Development
Previous report
There was no cash provided by or used in financing activities for the three months ended March 31, 2025.
Reworded paragraphs (19)
Previous wording
The following discussion and analysis should be read in conjunction with the Company's unaudited interim condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q (this “Quarterly Report”). In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including but not limited to those set forth under “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on April 15, 2026.
Current wording
The following discu ssion and analysis should be read in conjunction with the Company's unaudited interim condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q (this “Quarterly Report”). In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including but not limited to those set forth under “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on April 15, 2026.
Previous wording
During the three months ended March 31, 2026, the Company continued to execute its strategic transformation into a communications and data infrastructure platform. The Company’s operating focus is centered on scaling its telecommunications revenue base, improving operating efficiency through automation and AI-enabled routing, and expanding into higher-value infrastructure and software-driven applications.
Current wording
During the six months ended June 30, 2026, the Company continued to execute its strategic transformation into a communications and data infrastructure platform. The Company’s operating focus is centered on scaling its telecommunications revenue base, improving operating efficiency through automation and AI-enabled routing, and expanding into higher-value infrastructure and software-driven applications.
Previous wording
Revenue was approximately $29,094.0 million for the three-month period ended March 31, 2026, as compared to $1,262.0 million for the three-month period ended March 31, 2025, representing an increase of $27,832.0 million or 2205%. The increase resulted primarily due to the expansion of the Company's telecommunication services business.
Current wording
Revenue was approximately $16.1 million for the three-month period ended June 30, 2026, as compared to $13.4 million for the three-month period ended June 30, 2025, representing an increase of $2.7 million or 20%. The increase resulted primarily due to the expansion of the Company's telecommunication services business.
Previous wording
Cost of revenue was $29.0 million for the three-month period ended March 31, 2026, compared to $1.3 million for the corresponding three-month period in 2025, representing an increase of $27.8 million or 2202%. This increase resulted primarily from the increase in revenue generating operations from the expansion to the telecommunication services business.
Current wording
Cost of revenue was $16.1 million for the three-month period ended June 30, 2026, compared to $13.4 million for the corresponding three-month period ended June 30, 2025, representing an increase of $2.7 million or 20%. This increase resulted primarily from the increase in revenue generating operations from the expansion to the telecommunication services business.
Previous wording
Sales and marketing expense was approximately $0 for the three-month period ended March 31, 2026, compared to $549 thousand for the corresponding three-month period in 2025, a decrease of $549 thousand. The decrease was primarily attributable to reduced marketing expenditures as part of the Company’s cost management initiatives focused on improving operating margins.
Current wording
Sales and marketing expense was approximately $127 thousand for the three-month period ended June 30, 2026, compared to $9 thousand for the corresponding three-month period in 2025, an increase of $118 thousand. The increase was primarily attributable to new marketing expenditures as part of the Company’s growth initiatives focused on improving revenue.
Previous wording
For the three-month period ended March 31, 2026, the Company incurred a non-cash amortization charge of $710 thousand as compared to $162 thousand for the corresponding period in 2025. The increase in amortization expense was primarily attributable to intangible assets acquired in connection with the Company’s 2025 telecommunications-related acquisitions.
Current wording
For the three-month period ended June 30, 2026, the Company incurred a non-cash amortization charge of $713 thousand as compared to $439 thousand for the corresponding period ended June 30, 2025. The increase in amortization expense was primarily attributable to intangible assets acquired in connection with the Company’s 2025 telecommunications-related acquisitions.
Previous wording
For the three-months ended March 31, 2026, the Company had a net income from continuing operations of $537 thousand compared to a net loss from continuing operations of $(3.7) million during the corresponding three-month period in 2025.
Current wording
For the three-months ended June 30, 2026, the Company had a net loss from continuing operations of $(2.3) million compared to a net loss from continuing operations of $(3.6) million during the corresponding three-month period in 2025.
Previous wording
Operating expenses, excluding cost of revenue described above, were approximately $1.2 million for the three-month period ended March 31, 2026, compared to $3.8 million for the corresponding three-month period in 2025, a decrease of $2.6 million or 67%. This decrease was due to a decrease in general and administrative expenses of $2.5 million.
Current wording
Operating expenses, excluding cost of revenue described above, were approximately $2.9 million for the six month period ended June 30, 2026, compared to $6.1 million for the corresponding six month period in 2025, a decrease of $3.1 million or 52%. This decrease was due to a decrease in general and administrative expenses of $3.5 million, largely related to a decrease in stock compensation expense.
Previous wording
Product development expense for the three-months ended March 31, 2026, decreased to $1 thousand from $14 thousand for the corresponding period in 2025 due to a large focus on product development in the prior period.
Current wording
Product development expense for the six months ended June 30, 2026, decreased to $4 thousand from $34 thousand for the corresponding period in 2025 due to a large focus on product development in the prior period.
Previous wording
For the three-month period ended March 31, 2026, general and administrative expenses were $568 thousand, including $83 thousand of non-cash stock-based compensation. In 2025, for the corresponding period, general and administrative expenses were $3.1 million, including $1.8 million of non-cash stock-based compensation. Non-cash stock-based compensation increases GAAP general and administrative expenses and, consequently, operating loss, but it does not reduce cash flows. As a result, while operating loss may appear higher, actual cash outflows for general and administrative activities are lower than the GAAP expense
Current wording
For the six month period ended June 30, 2026, general and administrative expenses were $1.4 million, including $245 thousand of non-cash stock-based compensation. In 2025, for the corresponding period, general and administrative expenses were $4.9 million, including $2.6 million of non-cash stock-based compensation. Non-cash stock-based compensation increases GAAP general and administrative expenses and, consequently, operating loss, but it does not reduce cash flows. As a result, while operating loss may appear higher, actual cash outflows for general and administrative activities are lower than the GAAP expense.
Previous wording
Other income (expense) for the three-month period ended March 31, 2026, was income of $1.8 million compared to expense of $(128) thousand in the corresponding 2025 period. This increase is attributable to the increase in Gain on change on fair value of marketable securities of $1.8 million.
Current wording
Other income (expense) for the six month period ended June 30, 2026, was income of $1.1 million compared to expense of $1.3 million in the corresponding 2025 period. This increase is attributable to the decrease in loss change in fair value of contingent consideration of $1.3 million, partially offset by the increase in Gain on change on fair value of marketable securities of $1.1 million.
Previous wording
Net cash used in operating activities was approximately $384 thousand for the three months ended March 31, 2026, compared to $1.8 million for the three months ended March 31, 2025.
Current wording
Net cash used in operating activities was approximately $1.4 million for the six months ended June 30, 2026, compared to $3.0 million for the six months ended June 30, 2025.
Previous wording
For the three months ended March 31, 2026, the Company reported a net income from continuing operations and discontinued operations of $537. The net loss includesnon-cash expenses, including:
Current wording
For the six months ended June 30, 2026, the Company reported a net loss from continuing operations and discontinued operations of $1.8 million. The net loss includesnon-cash expenses, including:
Previous wording
For the three months ended March 31, 2025, net loss from continuing operating operations was $3.7 million and net loss from discontinued operations was $845 thousand. The 2025 net loss included significant non-cash charges, including:
Current wording
For the six months ended June 30, 2025, net loss from continuing operating operations was $7.3 million and net loss from discontinued operations was $1.5 million. The 2025 net loss included significant non-cash charges, including:
Previous wording
The decrease in cash used in operating activities during 2026 was primarily attributable to lower expenses and collections of accounts receivable.
Current wording
The decrease in cash used in operating activities during 2026 was primarily attributable to lower expenses.
Previous wording
Net cash used in investing activities was approximately $0 for the three months ended March 31, 2026, compared to $400 thousand for the three months ended March 31, 2025.
Current wording
Net cash used in investing activities was approximately $0 for the six months ended June 30, 2026, compared to $400 thousand for the six months ended June 30, 2025.
Previous wording
Net cash provided by financing activities was approximately $1.2 million for the three months ended March 31, 2026. The primary sources of financing were:
Current wording
Net cash provided by financing activities was approximately $1.5 million for the six months ended June 30, 2026. The primary sources of financing were:
Previous wording
As of March 31, 2026, the Company had cash on hand of approximately $1,027.0 million.
Current wording
As of June 30, 2026, the Company had cash on hand of approximately $330 thousand.
Previous wording
For the three months ended March 31, 2026, the Company reported net income from continuing operations of $537 thousand, but primarily due to a gain on change in fair value of marketable securities. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
Current wording
For the six months ended June 30, 2026, the Company reported net loss from continuing operations of$1.8 million. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
Rearranged current paragraphs (5)
Current report — wording carried from elsewhere
For the three-month period ended June 30, 2026, general and administrative expenses were $818 thousand, including $162 thousand of non-cash stock-based compensation. For the three-month period ended June 30, 2025, for the corresponding period, general and administrative expenses were $1.8 million, including $800 thousand of non-cash stock-based compensation. Non-cash stock-based compensation increases GAAP general and administrative expenses and, consequently, operating loss, but it does not reduce cash flows. As a result, while operating loss may appear higher, actual cash outflows for general and administrative activities are lower than the GAAP expense.
Current report — wording carried from elsewhere
Cost of revenue was $45.1 million for the six month period ended June 30, 2026, compared to $14.6 million for the corresponding six month period in 2025, representing an increase of $30.5 million or 209%. This increase resulted primarily from the increase in revenue generating operations from the expansion to the telecommunication services business.
Current report — wording carried from elsewhere
For the six month period ended June 30, 2026, the Company incurred a non-cash amortization charge of $1.4 million as compared to $601 thousand for the corresponding period in 2025. The increase in amortization expense was primarily attributable to intangible assets acquired in connection with the Company’s 2025 telecommunications-related acquisitions.
Current report — wording carried from elsewhere
General and administrative expenses consist primarily of compensation-related costs for personnel performing corporate, finance, and administrative functions, as well as legal, audit, tax, consulting, and other professional fees and general corporate expenses.
Current report — wording carried from elsewhere
Net cash provided by financing activities was approximately $1.8 million for the six months ended June 30, 2025. The primary sources of financing were: