Radnostix (OTCQB: INIS) reported Q1 2026 revenue of $2.38 million, down 27% year over year, with a net loss of $1.35 million versus a prior-year loss of just $112,694. Diluted EPS was $0.00. No formal analyst consensus was available; after-hours movement was not disclosed in the filing, with the stock trading near $0.08.
About Radnostix, Inc.
Radnostix, Inc. (OTCQB: INIS), formerly known as International Isotopes Inc., is a U.S. based manufacturer and distributor of radioisotope-focused products serving medical, industrial, and research applications. The company was incorporated in Texas in November 1995 and is headquartered at 4137 Commerce Circle, Idaho Falls, Idaho. Its product lines include generic Sodium Iodide I-131 radiopharmaceutical drug products, Cobalt-60 sealed sources, nuclear medicine calibration and reference standards under the RadQual brand, and emerging medical device systems.
Radnostix operates through five reportable business segments: Theranostics Products, Cobalt Products, Calibration and Reference Products (formerly Nuclear Medicine Standards), Medical Devices, and Fluorine Products. It is the only U.S.based manufacturer of finished Cobalt-60 products and the only U.S. producer of generic Sodium Iodide I-131.
As of May 11, 2026, the company had 529,130,353 shares of common stock outstanding, with a market capitalization of approximately $41.8 million to $43.9 million based on a closing price near $0.08 per share. The company does not pay a dividend, has no P/E ratio (currently unprofitable), and carries total assets of approximately $17.19 million as of March 31, 2026.
Top Financial Highlights
- Total revenue reached $2,378,924, declining 27% from $3,238,900 in Q1 2025, primarily due to product recalls, isotope supply disruptions, and temporary operational shutdowns.
- Gross profit totaled $1,150,948, down 43% from $2,032,037 in the prior-year period.
- Gross margin declined to 48%, compared to 63% in Q1 2025, reflecting pressure from lower production volumes and labor cost allocation changes.
- Net loss widened to $1,348,086, compared to a loss of $112,694 in Q1 2025.
- Diluted EPS remained approximately $0.00 on a rounded basis for both periods.
- Total operating expenses increased 17% to $2,460,980, driven by higher salary expenses, administrative costs, and stock-based compensation adjustments.
- EBITDA was -$950,144, compared to positive EBITDA of $47,278 in Q1 2025.
- Adjusted EBITDA declined to -$923,310, compared to positive $117,557 in the prior-year period.
- Theranostics segment revenue reached $1,397,282, declining approximately 22% year over year due to product recalls affecting key offerings.
- Cobalt products revenue totaled $9,739, down approximately 87% year over year following a prolonged operational shutdown.
- Calibration and reference products revenue was $882,790, declining approximately 33% due to isotope shortages and supply constraints.
- Medical devices revenue reached $89,113, reflecting growth from a smaller prior-year base as commercialization efforts continue.
- Cash and cash equivalents stood at $1,347,394 as of March 31, 2026, down from $1,695,158 at the end of 2025.
- Net cash used in operating activities was $72,442 during the quarter.
- Management guidance includes planned commercial launches of EasyFill and RadVent in Q3 2026, submission of an I-131 GMP API drug master file in Q4 2026, and continued strategic evaluation of uranium-related assets in Q2 2026.
Beat or Miss?
| Metric | Reported | Estimated / Expected | Difference / Analysis |
| Total Revenue | $2,378,924 | N/A (no consensus) | Down 27% vs Q1 2025; no public sell-side estimates available for this micro-cap |
| Net Loss | ($1,348,086) | $(1,100,000) to $(1,300,000) | Slightly worse than pre-announced guidance range in Form 12b-25 filing |
| Diluted EPS | $0.00 | N/A | Effectively nil given share count; anti-dilutive instruments excluded |
| Gross Margin | 48% | N/A | Compressed 15 ppts vs 63% in Q1 2025; reflects recall and labor cost shifts |
| Operating Cash Flow | ($72,442) | N/A | Modest cash burn; improved vs $(5,119) in Q1 2025 due to working capital movements |
| EBITDA | ($950,144) | N/A | Swung from positive $47,278 in Q1 2025; a decline of over $997,000 |
| Adjusted EBITDA | ($923,310) | N/A | Versus positive $117,557 prior year; an $1.04 million deterioration |
What Leadership Is Saying?
“The first quarter reflected several operational and supply-chain headwinds that materially impacted our results. The two voluntary recalls in our Theranostics segment were unexpected and have hampered our revenues and margins for Q1 and will impact Q2. We believe the recall impacts should not extend beyond Q2. The planned hot cell maintenance, while necessary for quality and long-term reliability, created short-term revenue pressure which should be alleviated in Q2 and beyond.
We are executing on closing out our corrective actions for the FDA observations, restoring I-131 capsule inventory, qualifying additional isotope suppliers across the segments, and returning Cobalt operations to full capacity. These steps, combined with our new facility investments and new product launches, are designed to strengthen our manufacturing resilience and position the Company for more stable performance going forward.”
Shahe Bagerdjian, President and Chief Executive Officer, Radnostix, Inc.
“The Company expects that cash from operations, the availability of equity or debt financing, and its current cash balance will be sufficient to fund operations for the next twelve months. Future liquidity and capital funding requirements will depend on numerous factors, including commercial relationships, technological developments, market factors, available credit, and management of redeemable convertible preferred stock.”
Management Commentary, Radnostix 10-Q, Q1 2026
Historical Performance
Radnostix Year-over-Year Quarterly Comparison
| Category | Q1 2026 | Q1 2025 | Change (%) |
| Total Revenue | $2,378,924 | $3,238,900 | -26.6% |
| Gross Profit | $1,150,948 | $2,032,037 | -43.4% |
| Gross Margin | 48% | 63% | -15 ppts |
| Net Loss | ($1,348,086) | ($112,694) | -1,096.2% |
| Total Operating Expenses | $2,460,980 | $2,097,053 | +17.4% |
| EBITDA | ($950,144) | $47,278 | -2,110% |
| Adjusted EBITDA | ($923,310) | $117,557 | -885% |
| Cash and Equivalents | $1,347,394 | $1,645,663 | -18.1% |
| Operating Cash Flow | ($72,442) | ($5,119) | -1314% |
Competitor Performance Comparison
Radnostix competes in the broader nuclear medicine radioisotopes and radiopharmaceuticals sector, which is valued at approximately $6.3 billion globally in 2026 and is projected to grow at a 4.7% CAGR through 2034. Major sector players include Cardinal Health (NYSE: CAH), GE HealthCare (NASDAQ: GEHC), Bayer AG, and Siemens Healthineers.
Nuclear Medicine Segment Q1 2026 vs Q1 2025 Comparison
| Company / Metric | Q1 2026 | Q1 2025 | Change (%) |
| Radnostix (INIS) Total Revenue | $2.38M | $3.24M | -27% |
| Radnostix Net Loss | $(1.35M) | $(0.11M) | -1,096% |
| Radnostix Operating Expenses | $2.46M | $2.10M | +17% |
| Cardinal Health (CAH) Total Revenue | $64B (FY Q1 FY2026, ended Sep 2025) | $52.3B | +22% |
| Cardinal Health Operating Earnings | $668M | $568M | +18% |
| Cardinal Health Diluted EPS (GAAP) | $1.88 | $1.69 (est.) | +11% |
| Cardinal Health Nuclear Precision Health Profit | Strong 60% growth (within Other segment) | Lower base | 60% |
Cardinal Health’s fiscal Q1 runs July through September, so its Q1 FY2026 ended September 30, 2025, not March 31, 2026. The comparison reflects the most recent comparable quarterly results available for the nuclear medicine sector peer. No directly comparable small-cap radioisotope competitors filed Q1 calendar-year 2026 results with publicly available segment data at the time of this report.
How the Market Reacted?
The Q1 2026 earnings release, dated May 21, 2026, did not disclose a specific post-announcement stock price movement. Radnostix shares (OTCQB: INIS) were trading near $0.08 per share around the announcement date, within a 52-week range of approximately $0.045 to $0.11. The stock’s market capitalization was approximately $41.8 million to $43.9 million at the time of the results.
Overall sentiment in the report is bearish in the near term, given the 27% revenue contraction, the net loss expanding tenfold, and management’s disclosure that Q2 will also absorb recall impacts; however, the completion of the Cobalt hot cell repair and new facility construction provides a modestly constructive longer-term tone. Trading volumes on this micro-cap OTC stock remain thin, with average daily volume near 53,699 shares, limiting the signal value of any short-term price move.
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