Virtuix Holdings Inc. (VTIX) reported a net loss of $7.2 million for the first quarter ended June 30, 2026, widening from a $2.3 million loss in the same period a year earlier. Revenue declined 26% year-over-year to $767,300, while gross profit rose 29% to $227,000, lifting gross margin to 30% from 17% in the prior-year quarter.
The operating loss deepened to $3.9 million from $2.0 million a year ago, and adjusted EBITDA loss increased to $3.1 million compared with a $1.9 million loss in Q1 2025. Loss per share improved to $0.22 from $0.28, reflecting lower losses despite the revenue decline. Cash and cash equivalents totaled $7.4 million as of June 30, down from $9.5 million at the end of March, with operating cash burn of $3.3 million for the quarter.
Shares of Virtuix fell 6.79% to $1.51 following the release, extending declines from a 52-week high of $92.74. The company, which listed on the Nasdaq Global Market in January 2026, cited production capacity of about 3,000 units per month and ongoing defense sector engagements as key operational drivers.
Virtuix’s Omni One platform, including the Quest-compatible version launched in late June, saw new orders rise 72% year-over-year and approximately 150% since the Meta integration. CEO Jan Goetgeluk highlighted the commercial strength of the quarter, noting the collaboration with Meta provides access to an estimated 6 million active Quest users. The company also secured defense contracts with the U.S. Marine Corps, Air Force, and Navy, alongside partnerships in healthcare and enterprise sectors.
Gross margin expansion to 30% was attributed to improved operational efficiency, while the company continues to evaluate acquisition targets in defense training generating $10 million to $50 million in annual revenue. CFO Thomas McGinnis emphasized the margin improvement as a positive signal amid broader financial challenges.
