Earnings ·
XCHG reports $10.3M revenue, a 17.5% drop, as operating loss widens to $11.2 million for H1 2026
XCHXCHG Ltd
XCHG Limited reported unaudited financial results for the six months ended June 30, 2026. Revenues decreased 17.5% year-over-year to $10.3 million from $12.5 million, driven by procurement timing delays and project schedule changes. Gross margin contracted to 38.8% from 51.3%, while the operating loss widened to $11.2 million compared to $7.4 million in the prior period. The company raised approximately $4.4 million through a registered direct offering of 7.0 million ADSs in June. Management provided full-year 2026 revenue guidance of $32.9 million to $38.2 million, anticipating accelerated activity in the second half. Additionally, XCharge appointed Albina Iljasov as Co-CEO effective June 1 and implemented an ADS ratio change from one-for-40 to one-for-80 effective August 21, 2026. The company operates in the electric vehicle charging solutions industry.