Revenue: As of FY2026 Q1, the actual value is USD 44 K.

EPS: As of FY2026 Q1, the actual value is USD -0.66.

EBIT: As of FY2026 Q1, the actual value is USD -5.546 M.

Consolidated Financial Performance (Three Months Ended March 31, in thousands)

• Net Operating Loss: MDB Capital Holdings, LLC reported a net operating loss of - $5,481 in 2026, compared to - $5,910 in 2025.
• Net Loss before Income Taxes: The net loss before income taxes was - $5,628 in 2026, compared to - $5,729 in 2025.
• Net Loss: The company’s net loss was - $6,736 in 2026, compared to - $6,602 in 2025.
• Net Loss Attributable to MDB Capital Holdings, LLC: The net loss attributable to MDB Capital Holdings, LLC was - $6,735 in 2026, compared to - $6,587 in 2025.

Broker Dealer & Intellectual Property Service Segment (Three Months Ended March 31, in thousands)

• Unrealized Loss on Investment Securities, Net: This segment experienced an unrealized loss on investment securities, net, of - $3,047 in 2026, a larger decrease compared to - $1,463 in 2025, indicating a greater reduction in the market value of securities held.
• Fee Income: Fee income increased to $2,862 in 2026 from $2,140 in 2025, driven by higher investment banking activity and a larger transaction in 2026.
• Other Operating Income: Other operating income was $229 in 2026, up from $151 in 2025.
• Total Operating Income, Net: Total operating income, net, decreased to $44 in 2026 from $828 in 2025.
• Total General and Administrative Costs: Total general and administrative costs were $2,139 in 2026, a slight increase from $2,135 in 2025, with compensation decreasing due to personnel departures while clearing and other charges rose with investment banking activity.
• Net Operating Loss: The net operating loss for this segment was - $2,095 in 2026, compared to - $1,307 in 2025.
• Net Loss: The net loss for this segment was - $2,278 in 2026, compared to - $1,439 in 2025.

Technology Development Segment (MDB Minnesota One) (Three Months Ended March 31, in thousands)

• Total Operating Income: This segment reported $0 in total operating income in both 2026 and 2025, indicating no activity.
• Total General and Administrative Costs: Total general and administrative costs significantly decreased to $3 in 2026 from $45 in 2025, primarily due to reduced activity and legal fees.
• Net Operating Loss: The net operating loss was - $3 in 2026, compared to - $45 in 2025.
• Net Loss: The net loss for this segment was - $3 in 2026, compared to - $45 in 2025.

Other Segment (Three Months Ended March 31, in thousands)

• Equity in Loss of Equity Method Investee (eXoZymes): MDB Capital Holdings, LLC’s proportionate share of eXoZymes’ net loss was - $1,108 in 2026, compared to - $873 in 2025.

Cash Flow (Three Months Ended March 31, in thousands)

• Net Cash Used in Operating Activities: Net cash used in operating activities was - $2,945 in 2026, compared to - $1,258 in 2025, with the 2026 figure including a - $2.0 million decrease from the release of customer deposits.
• Net Cash Used in Investing Activities: Net cash used in investing activities was - $69 in 2026, primarily for investment into deferred IT costs for self-clearing system development, compared to $0 in 2025.
• Net Cash Used in Financing Activities: Net cash used in financing activities remained at $0 in both 2026 and 2025.
• Net Decrease in Cash, Cash Equivalents, and Restricted Cash: The net decrease was - $3,014 in 2026, compared to - $1,258 in 2025.

Key Financial Metrics

• Working Capital: Working capital was $14.2 million as of March 31, 2026, representing a decrease of $5.9 million from $20.1 million at March 31, 2025, mainly due to cash used for operations.
• Public Ventures Net Capital: Public Ventures Net Capital was $10.01 million as of March 31, 2026, and $10.18 million as of March 31, 2025, both significantly exceeding the minimum requirement of $0.25 million.
• Investment Securities, at Fair Value (Broker Dealer): Investment securities, at fair value, for the Broker Dealer segment were $5,141 thousand at March 31, 2026, down from $7,166 thousand at December 31, 2025, due to a decrease in the value of common stock and warrants.
• Equity Method Investment: Equity method investment was $36,339 thousand at March 31, 2026, a decrease from $37,543 thousand at December 31, 2025, primarily due to the recognized loss from eXoZymes.

Future Outlook and Strategy

MDB Capital Holdings, LLC is monitoring external risks such as inflation, supply chain issues, and potential recession, though it does not anticipate a material direct impact on its operations beyond general economic effects. The company continues to monitor global conflicts, acknowledging their general impact on North American businesses. MDB Minnesota One is in the pre-clinical development stage for its small molecule senescence platform, undertaking feasibility studies and toxicity data collection, with specific milestone payments to Mayo Foundation for Medical Education and Research tied to future clinical trial initiations and FDA approvals.