Netcapital 2026 Q2 Earnings 81.2% Improvement in Net Loss per Share to $0.44

Netcapital (NCPL) reported fiscal 2026 Q2 results on Dec 15, 2025, showing a significant reduction in losses despite a sharp revenue decline. The company narrowed its net loss per share to $0.44 from $2.34 year-over-year, an 81.2% improvement. CEO Rich Wheeless highlighted strategic moves into cryptocurrency and blockchain financing, including the Rivetz acquisition, as key growth drivers.

Revenue

Netcapital’s total revenue plummeted 70.0% to $51,076 in Q2 2026 from $170,528 in Q2 2025. Portal fees accounted for $14,461, while listing fees represented the largest segment at $35,000. The portal’s 1% equity fee contributed $1,510, and game site revenue totaled $105. The decline reflects reduced funding portal activity during the period.

Earnings/Net Income

The company narrowed its net loss to $2.13 million in Q2 2026, a 4.1% reduction from $2.22 million in Q2 2025. Loss per share improved to $0.44 from $2.34, signaling progress but underscoring ongoing challenges. The 81.2% improvement in net loss per share indicates operational efficiency gains, though losses persist.

Post-Earnings Price Action Review

The strategy of purchasing NCPL shares on revenue raise announcements and holding for 30 days showed mixed results. While the stock surged 3.64% post-announcement, it dropped 52.79% over the past month and 50.90% annually, reflecting high volatility. The 30-day holding period mitigated potential long-term losses but remains risky for sustained growth.

CEO Commentary

Rich Wheeless emphasized blockchain and tokenized assets as core growth areas, with the Rivetz acquisition enhancing compliance capabilities. He expressed confidence in the tokenized commodity market’s expansion and Netcapital’s role in leading retail opportunities.

Guidance

The company anticipates leveraging blockchain to diversify revenue streams and expand private capital-raising options. No specific financial targets were provided, with forward-looking risks including market uncertainties and regulatory challenges.

Additional News

Netcapital recently acquired Rivetz Corp. to strengthen its blockchain and cybersecurity offerings, a strategic move to diversify revenue. The company also closed a $5.9 million registered direct offering in July 2025, including $3 million upfront and $2.9 million in short-term warrants. CEO Wheeless reiterated a focus on blockchain financing and tokenized assets during the Dec 16 conference call.