DarkHorse Technologies Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 6, 2026, reporting a net loss of $5,778 thousand for the third quarter and disclosing a substantial increase in common shares outstanding.

Key Highlights

  • Q3 2026 Net Loss: DarkHorse Technologies reported a net loss of $5,778 thousand for the three months ended September 30, 2026, compared to a net loss of $4,248 thousand in the same period of 2025.
  • Nine-Month Net Loss: For the nine months ended September 30, 2026, the company reported a net loss of $23,713 thousand, versus $11,366 thousand for the nine months ended September 30, 2025.
  • Revenue: Revenues were $3,031 thousand for Q3 2026 and $7,399 thousand for the nine months ended September 30, 2026, according to the filing.
  • Share Count Growth: Common shares outstanding increased from 3,392,541 as of December 31, 2025, to 10,576,805 as of September 30, 2026, including shares issued in connection with an acquisition.
  • Property and Equipment Impairment: The company recorded impairment of property and equipment of $7,039 thousand for the nine months ended September 30, 2026.
  • Cash Position: Cash and cash equivalents stood at $8,823 thousand as of September 30, 2026, up from $3,707 thousand at December 31, 2025.
  • Accumulated Deficit: The accumulated deficit reached $502,016 thousand as of September 30, 2026, compared to $478,303 thousand at December 31, 2025.

DarkHorse Technologies Reports Widening Losses and Major Share Issuances in Q3 2026

DarkHorse Technologies Inc. (NASDAQ:DRK), incorporated in British Columbia, Canada, and headquartered in Wilmington, Delaware, disclosed its unaudited condensed consolidated financial results for the three and nine months ended September 30, 2026. According to the filing, the company reported Q3 2026 revenues of $3,031 thousand, up from $2,623 thousand in Q3 2025, while total operating costs and expenses rose to $8,821 thousand from $6,658 thousand in the prior-year quarter. The resulting loss from operations was $5,790 thousand for the three months ended September 30, 2026.

The filing disclosed that common shares outstanding grew from 3,392,541 at December 31, 2025, to 10,576,805 at September 30, 2026. A significant portion of this increase occurred in Q2 2026 when the company issued equity instruments for an acquisition, resulting in 1,387,117 Series I preferred shares and 2,405,300 common shares. Additionally, the company issued 2,577,935 common shares and warrants during Q3 2026, raising net proceeds of $6,450 thousand, according to the filing. As of October 30, 2026, the registrant reported 10,588,358 common shares outstanding.

The filing also reported a property and equipment impairment charge of $7,039 thousand for the nine-month period, as well as a loss on disposal of property and equipment of $1,420 thousand. Total assets were $25,572 thousand as of September 30, 2026, compared to $25,120 thousand at December 31, 2025. Total liabilities increased to $6,840 thousand from $1,802 thousand at year-end 2025, with the filing noting new operating lease liabilities of $1,165 thousand and deferred tax liabilities of $760 thousand. The basic and diluted net loss per share for Q3 2026 was $(0.65), based on 8,840,643 weighted-average shares.

What Was Disclosed

DarkHorse Technologies filed its Q3 2026 Form 10-Q covering the period ended September 30, 2026. The filing detailed a net loss of $23,713 thousand for the nine-month period, significant share issuances including an acquisition-related equity transaction, and a property and equipment impairment charge of $7,039 thousand.