Financing ·
iTonic raises $20M via PIPE, reports $6.78M net loss on 49% revenue growth, completes reverse split
ITOCiTonic Holdings Ltd
iTonic Holdings Ltd filed its unaudited financial results for the six months ended June 30, 2026, reporting a net loss of $6,782,691 compared to $2,037,496 in the prior year period. The company recorded significant non-cash charges, including a goodwill impairment loss of $977,841 and an intangible asset impairment loss of $718,258. Revenue increased 49.47% to $100,906, driven by higher sales volume in its treatment planning system (FTTPS) and medical auxiliary supplies. The filing discloses a private investment in public equity (PIPE) financing completed on April 16, 2026, raising $20 million through the issuance of 100,000,000 Class A ordinary shares at $0.20 per share. Additionally, the company paid $20 million in advances for potential acquisitions and announced a shareholder-approved one-for-sixteen reverse stock split effective October 6, 2026, to regain Nasdaq compliance. iTonic Holdings Ltd operates as a healthcare solutions provider specializing in brachytherapy treatment software and devices.