Filing Flows › IGC Pharma (IGC) › Q1 2026
IGC Pharma (IGC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
IGC Pharma (IGC) reported revenue of $317K for the first quarter 2026 (Q1 2026), -4% from a year earlier and -9% from the quarter before. Operating margin was -775.4%, net loss $2.4M (757.7% of revenue).
IGC Pharma, Q1 2026: revenue $317K (-4% year over year), operating margin -775.4%, net loss $2.4M, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $317K | -9% | -4% |
| Operating profit | −$2.5M | — | — |
| Net earnings | −$2.4M | — | — |
| Operating cash flow | −$1.2M | — | — |
What changed
Revenue was $317K in Q1 2026, down 4% year over year and down 9% from the previous quarter. White Labeling Services was the largest line at 93% of revenue. White Labeling Services lost $24K year over year (down 8%), 185% of the total change.
Gross margin was 17.4%, down 29.3 points from Q1 2025. Operating costs exceeded revenue by $2.5M, an operating margin of -775.4%. Operating expenses grew 60% against a revenue fall of 4%. The fastest-growing cost line was SG&A (+118%). The quarter ended with a net loss of $2.4M, wider than the previous quarter's $726K loss.
Operating cash flow was −$1.2M. Non-cash charges added back $58K of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $1K exceeded it, leaving free cash flow of −$1.2M.
Questions
What was IGC Pharma's revenue in the first quarter 2026?
IGC Pharma (IGC) reported revenue of $317K for the first quarter 2026 (Q1 2026), -4% from a year earlier and -9% from the quarter before.
Was IGC Pharma profitable in the first quarter 2026?
Operating loss was $2.5M (-775.4% of revenue) and net loss $2.4M.
Source: IGC Pharma 10-Q on SEC EDGAR.