Panamera Holdings Posts $153.7M Q1 Loss as R&D Spending Surges

Panamera Holdings Corporation posted a net loss of $153.7 million for the three months ending October 31, 2025, a sharp deterioration from the $91,061 loss reported in the same quarter of fiscal 2025. The Nevada-incorporated company generated no revenue during the quarter, down from $43,568 a year earlier. Read more earnings reports.

The loss was driven by operating expenses of $153.6 million, compared to $114,219 in the prior-year quarter. Research and development expenses accounted for $153.4 million of the total, a category that showed zero spending in the year-ago period.

Diluted loss per share came to $2.08, based on 73.9 million weighted average shares outstanding. The prior-year quarter showed a diluted loss per share of less than one cent on 45.4 million shares.

Total assets fell to $113,583 as of October 31, 2025, down 86% from $803,519 at the end of July 2025. Cash and restricted cash declined to $47,888 from $85,980 over the same three-month period.

Total liabilities surged to $4.1 million from $179,064 at the prior quarter end. The company reported negative stockholders' equity of $4.0 million as of October 31, compared to positive equity of $624,455 three months earlier.

Retained earnings swung from a surplus of $23.3 million at July 31, 2025, to a deficit of $177.0 million at the end of the first quarter. Additional paid-in capital increased to $172.9 million from $23.8 million over the same period.

Cash used in operations totaled $218,481 for the quarter, compared to $4,576 in the year-ago period. Cash from financing activities provided $180,389, versus $3,998 in the prior-year quarter.

Common shares outstanding increased to 73.9 million at October 31, 2025, from 46.7 million at the end of July 2025. Total common shares issued rose to 79.9 million from 52.7 million over the three-month period.