20/20 BioLabs Reports Second Quarter 2026 Financial Results and Recent Operational Progress, as Cancer Test Revenue Reaches Record Quarterly Level
Best Quarter of Flagship Multi-Cancer Early Detection Testing; OneTest™ Revenue Increased 47% Year-Over-Year to $0.7 Million; Gross Profit Increased 87% to $0.3 Million, with Gross Margin Expanding to 41.7% from 30.5%
Company Expands OneTest™ Across Firefighter, Occupational Health, Military, and Physician Practice Markets
Cash Position Strengthened to $4.5 Million as of June 30, 2026, with All Convertible Note Debt Eliminated During the Quarter
GAITHERSBURG, Md., Aug. 17, 2026 (GLOBE NEWSWIRE) -- 20/20 BioLabs, Inc. (Nasdaq: AIDX) (“20/20” or the “Company”), an early market entrant in AI powered laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases, reported its financial and operational results for the second quarter ended June 30, 2026.
Second Quarter & Subsequent 2026 Operational Highlights
Management Commentary
Chief Executive Officer Jonathan Cohen commented, “The second quarter was the strongest quarter of multi-cancer early detection testing this Company has ever delivered. OneTest™ revenue grew 47% year-over-year to $0.7 million and represented more than 95% of total revenue, which is exactly the mix shift we have been working toward. Just as importantly, that growth came with operating leverage: gross profit increased 87% and gross margin expanded more than 11 percentage points to 41.7%, because our laboratory absorbs incremental testing volume at attractive incremental economics.”
"State-funded firefighter cancer screening continues to validate OneTest™ in a meaningful commercial setting. Programs in Maryland and Vermont are expected to help us surpass 35,000 firefighters tested by year-end, generating valuable real-world evidence while contributing to revenue growth."
"That growing body of clinical data supports our long-term reimbursement strategy. With a statutory Medicare pathway for FDA-authorized MCED blood tests beginning in 2028, we believe OneTest™ is well positioned to benefit from expanding adoption as we continue advancing toward commercialization."
Chief Financial Officer Alan Bergman added, "Second quarter results reflected a return to growth, with revenue increasing 36.5% year over year and gross profit increasing 87% as higher OneTest™ volume drove meaningful operating leverage. Operating expenses increased primarily due to one-time Nasdaq listing costs and continued investment in our longevity platform.
“We also strengthened the balance sheet meaningfully. During the quarter, we strengthened the balance sheet by raising additional Series E preferred capital and eliminating all outstanding convertible note debt. We ended the quarter with $4.5 million in cash and believe we are well positioned to support continued growth in MCED testing. With two state firefighter programs now contributing and a growing commercial pipeline, we expect MCED volume to remain the primary driver of revenue growth through the balance of the year,” concluded Bergman.
Second Quarter 2026 Financial Results
Total revenue for the three months ended June 30, 2026 was $0.7 million, an increase of 36.5%, compared to $0.5 million in the prior year period. Revenue from OneTest™, which includes the Company’s MCED blood test, increased 47.1% to $0.7 million, compared to $0.5 million in the prior year period, and represented 95.3% of total revenue, compared to 88.4% in the prior year period.
Total cost of revenue for the three months ended June 30, 2026 was $0.4 million, compared to $0.4 million in the prior year period.
Gross profit for the three months ended June 30, 2026 was $0.3 million, an increase of 86.6%, compared to $0.2 million in the prior year period. Gross margin was 41.7% in Q2 2026, compared to 30.5% in the prior year period, reflecting favorable product mix and improved fixed-cost absorption.
Operating expenses increased to $1.5 million from $1.0 million, primarily reflecting expenses associated with the Company's Nasdaq direct listing and continued investment in product development.
Total other expense, net was $0.3 million for the three months ended June 30, 2026, compared to other income, net, of less than $0.1 million in the prior year period.
Net loss for the three months ended June 30, 2026 was $1.5 million, compared to $0.8 million in the prior year period. Net loss included approximately $0.7 million in non-cash charges.
Cash and cash equivalents totaled $4.5 million as of June 30, 2026, compared to $1.0 million at year-end 2025, primarily reflecting $6.0 million of Series E preferred financing completed during the first half of the year. The Company had no convertible note debt outstanding at quarter end.
First Half 2026 Financial Results
Total revenue for the six months ended June 30, 2026 was $1.1 million, compared to $1.1 million in the prior year period. Revenue from OneTest™ increased 6.5% to $1.0 million, compared to $0.9 million in the prior year period.
Gross profit for the six months ended June 30, 2026 was $0.4 million, an increase of 11.7%, compared to $0.3 million in the prior year period. Gross margin was 33.9%, compared to 30.2% in the prior year period.
Total operating expenses for the six months ended June 30, 2026 were $3.1 million, compared to $1.9 million in the prior year period, primarily reflecting expenses associated with the Company’s transition to a Nasdaq-listed public company.
Net loss for the six months ended June 30, 2026 was $3.7 million, compared to $1.6 million in the prior year period. Net loss included approximately $1.7 million in non-cash charges.
About 20/20 BioLabs
20/20 BioLabs, Inc. (Nasdaq: AIDX) develops and commercializes AI-powered, laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases. The Company offers two families of lab tests under the OneTest brand. OneTest™ for Cancer is a multi-cancer early detection, or MCED, blood test, and OneTest™ for Longevity measures inflammatory biomarkers and is commercially available. OneTest’s affordable, accurate, accessible tests can be conveniently utilized at home using new, upper-arm capillary collection devices that avoid painful needles. Tests are run in the Company’s College of American Pathologists (CAP) accredited, Clinical Laboratory Improvement Amendments (CLIA) licensed laboratory in Gaithersburg, Maryland.
For more information visit https://2020biolabs.com.
Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that it believes may affect its financial condition, results of operations, business strategy, and financial needs. Forward-looking statements can be identified by words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project,” “continue,” or the negative of these terms or other comparable expressions. Actual results may differ materially from those expressed or implied by such forward-looking statements, including, without limitation, statements regarding expected revenue from state-funded firefighter cancer screening programs, the number of firefighters expected to be tested, the Giant Food retail pilot and whether it results in business beyond the pilot term, the Company’s expectations regarding new customer orders and its commercial pipeline, the Company’s ability to obtain FDA authorization for OneTest™ for Cancer or Medicare coverage or reimbursement, and the Company’s expectations regarding future revenue growth and liquidity. A number of factors could cause actual results to differ materially from those contained in these forward-looking statements, including, but not limited to, the risks described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K, as well as in our other reports filed or furnished from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events, except as required by applicable law. Although the Company believes the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee future results, and investors are cautioned that actual outcomes may differ materially from those anticipated.
Investor Relations
Chris Tyson
MZ Group
Direct: 949-491-8235
AIDX@mzgroup.us