Financing ·
PicoCELA raises $5M via preferred stock as net loss widens to ¥2,593 million amid going concern doubts
PCLAPicoCELA Inc.
PicoCELA Inc. filed unaudited interim financial statements for the six months ended March 31, 2026, reporting a net loss of ¥2,593 million compared to ¥316 million in the prior year period. Total revenues increased 45.5% to ¥367.4 million, driven by a 48.9% rise in product equipment sales to ¥300.9 million and a 31.5% increase in SaaS revenue to ¥66.5 million. The widened loss was primarily due to ¥2,330 million in non-cash share-based compensation expenses from restricted common shares issued for services. Cash and cash equivalents declined to ¥187.4 million from ¥534.9 million at September 30, 2025, resulting in negative operating cash flow of ¥134.5 million. Management identified substantial doubt regarding the company's ability to continue as a going concern due to accumulated losses and reliance on external financing. On July 16, 2026, PicoCELA issued 20 million Class A preferred shares for $5.0 million in gross proceeds to fund operations. The company manufactures enterprise wireless mesh solutions and provides related cloud-based management services.