季報
季度報告
10-Q
2026-05-14
第一季收入大跌至35.3萬美元（去年同期52.9萬美元），主因搜尋業務用戶流量下降及行業廣告預算縮減。
AI 繁中摘要
Quantum X Labs Inc.（前稱Viewbix Inc.）剛提交了截至2026年3月31日的第一季10-Q報告。公司於2026年4月30日正式改名，股票代碼在納斯達克由VBIX改為QXL。
業績重點💡
- 第一季收入大跌至35.3萬美元（去年同期52.9萬美元），主因搜尋業務用戶流量下降及行業廣告預算縮減。
- 營業虧損擴大至55萬美元（去年同期5.5萬美元），主要由於一般行政開支增加（50萬美元，去年同期19.7萬美元）。
- 持續經營淨虧損60.5萬美元（去年同期296.4萬美元），去年同期錄得大額金融負債公允值虧損272.3萬美元。
- 每股虧損0.05美元（去年同期0.68美元），加權平均股數顯著增加至1,150萬股。
重要交易🔍
- 2026年3月4日完成收購Quantum X Labs Ltd.（Quantum Israel），以1,866,000股普通股及預付權證（可購買4,447,595股）作代價，帳面產生1,432.6萬美元商譽及160萬美元在研無形資產。
- 同月完成私募融資，集資140萬美元（扣除發行成本後淨額約133萬美元），發行80萬股普通股及相關權證。
資產負債表狀況📊
- 總資產急升至2,770.7萬美元（2025年底1,075.7萬美元），主因收購帶來商譽及無形資產。
- 現金及現金等價物179.3萬美元（2025年底101.8萬美元）。
- 股東權益2,168.5萬美元（2025年底498.9萬美元）。
- 累計虧損4,665.2萬美元。
管理層展望與風險⚠️
- 管理層對持續經營能力存在重大疑問，認為12個月內可能需要額外資金。公司已透過裁減薪金、削減研發及銷售開支、以及進行多次融資（包括2025年的私募及貸款）應對。
- 以色列戰爭局勢（2025年10月後持續衝突）對公司營運及經濟環境構成不確定性，雖客戶主要在美國及歐洲，但風險仍存。
- 2025年11月已出售數碼內容業務Cortex，目前僅餘搜尋業務及新收購的量子技術業務。
對投資者的潛在影響💼
- 收入持續下滑及營運虧損反映核心業務受壓，依靠收購量子技術業務轉型能否成功仍屬未知。
- 大量發行新股（包括收購代價及權證）將進一步攤薄現有股東權益。
- 若未能達成量子技術業務的里程碑，或需支付高達1,270萬股的潛在Earn-Out證券，增加股本攤薄風險。
展開英文正文
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us-gaap:IntersegmentEliminationMember 2026-01-01 2026-03-31 0000797542 us-gaap:IntersegmentEliminationMember 2025-01-01 2025-03-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure utr:sqft QXL:Segment iso4217:ILS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission file number: 001-42681 QUANTUM X LABS INC. (Exact name of registrant as specified in its charter) VIEWBIX INC. (Former name, former address and former fiscal year, if changed since last report) Delaware 68-0080601 (State of (I.R.S. Employer Incorporation) Identification Number) 2 Jabotinsky St Atrium Tower, 18th floor Ramat Gan, Israel 5252903 (Address of Principal Executive Officers) (Zip Code) Registrant’s Telephone Number, Including Area Code: +972-9-774-1505 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.0001 per share QXL The Nasdaq Capital Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer (as defined in Rule 12b-2 of the Exchange Act) or a smaller reporting company. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ On May 14, 2026, the Registrant had 13,336,392 shares of common stock issued and outstanding. QUANTUM X LABS INC. TABLE OF CONTENTS Item Description Page PART I - FINANCIAL INFORMATION 3 ITEM 1. FINANCIAL STATEMENTS 3 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS 36 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 46 ITEM 4. CONTROLS AND PROCEDURES 46 PART II - OTHER INFORMATION 47 ITEM 1. LEGAL PROCEEDINGS 47 ITEM 1A. RISK FACTORS 47 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 47 ITEM 3. DEFAULT UPON SENIOR SECURITIES 47 ITEM 4. MINE SAFETY DISCLOSURE 48 ITEM 5. OTHER INFORMATION 48 ITEM 6. EXHIBITS 48 SIGNATURES 49 -2- PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) March 31, 2026 CONTENTS Page Interim Condensed Consolidated Balance Sheets (unaudited) 4 - 5 Interim Condensed Consolidated Statements of Operations (unaudited) 6 Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity (unaudited) 7 Interim Condensed Consolidated Statements of Cash Flows (unaudited) 8 - 10 Notes to the Interim Condensed Consolidated Financial Statements (unaudited) 11 - 42 -3- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) U.S. dollars in thousands (except share data) As of March 31 As of December 31 Note 2026 2025 ASSETS CURRENT ASSETS Cash and cash equivalents 1,793 1,018 Restricted deposits 45 20 Accounts receivable 355 315 Related parties 324 - Other current assets 377 299 Total current assets 2,894 1,652 NON-CURRENT ASSETS Deferred taxes 9 12 Property and equipment, net 44 56 Financial assets measured at cost method 600 600 Intangible assets, net 5 3,442 2,045 Goodwill 5 20,718 6,392 Total non-current assets 24,813 9,105 Total assets 27,707 10,757 The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -4- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Cont.) U.S. dollars in thousands (except share data) As of March 31 As of December 31 Note 2026 2025 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable 1,111 1,204 Government authorities 391 355 Earn-out payable 6,8 268 201 Short-term loans 7 267 260 Current maturities of long-term loans 7 781 781 Short-term convertible loans 7 867 867 Related parties 58 - Other payables 500 395 Total current liabilities 4,243 4,063 NON-CURRENT LIABILITIES Long-term loans, net of current maturities 7 390 586 Deferred taxes 663 326 Earn-out liability 6,8 726 793 Total non-current liabilities 1,779 1,705 Commitments and Contingencies 9 - - SHAREHOLDERS’ EQUITY Common stock of $0.0001 par value - Authorized: 490,000,000 shares; Issued and outstanding: 13,336,392 and 10,670,392 shares as of March 31, 2026, and December 31, 2025, respectively. 4 4 Additional paid-in capital 68,254 51,032 Accumulated deficit (46,652) (46,047) Equity attributed to shareholders of Quantum X Labs Inc. 21,606 4,989 Non-controlling interests 79 - Total equity 21,685 4,989 Total liabilities and shareholders’ equity 27,707 10,757 The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -5- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) U.S. dollars in thousands (except share data) 2026 2025 For the three months ended March 31, 2026 2025 Revenues 353 529 Costs and Expenses: Traffic-acquisition and related costs 132 134 Research and development - 16 Selling and marketing 25 20 General and administrative 500 197 Depreciation and amortization 224 173 Other expenses, net 22 44 Operating loss 550 55 Financial expense, net 71 2,867 Loss from continuing operations, before taxes 621 2,922 Income tax expense (benefit) (16) 42 Net loss from continuing operations 605 2,964 Net loss from discontinued operations - 880 Net loss 605 3,844 Less: net loss attributable to non-controlling interests - 176 Net loss attributable to shareholders of Quantum X Labs Inc. 605 3,668 Net loss from continuing operations attributable to: Shareholders of Quantum X Labs Inc. 605 2,964 Non-controlling interests - - Net loss from continuing operations 605 2,964 Net loss from discontinued operations attributable to: Shareholders of Quantum X Labs Inc. - 704 Non-controlling interests - 176 Net loss from discontinued operations - 880 Net loss per share from continuing operations – Basic and diluted attributed to shareholders: 0.05 0.55 Net loss per share from discontinued operations – Basic and diluted attributed to shareholders: - 0.13 Total net loss per share – Basic and diluted attributed to shareholders: 0.05 0.68 Weighted average number of shares – Basic and diluted (*): 11,499,814 5,414,548(*) (*) Share and per share data in these financial statements for periods preceding the Reverse Stock Split have been retrospectively adjusted to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Stock Split (see note 10.F). The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -6- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) U.S. dollars in thousands (except share data) Number Amount (**) capital Deficit Shareholders Interests Equity Common stock Additional paid-in Accumulated Total Attributed to the company’s Non- Controlling Total Number Amount capital Deficit Shareholders Interests Equity Balance as of January 1, 2026 10,670,392 4 51,032 (46,047) 4,989 - 4,989 Net loss - - - (605) (605) - (605) Issuance of shares and warrants in connection with a private placement (see note 10.D) 800,000 -(*) 1,330 - 1,330 - 1,330 Issuance of shares in connection with acquisition of a subsidiary (see note 6.C) 1,866,000 -(*) 15,892 - 15,892 79 15,971 Balance as of March 31, 2026 13,336,392 4 68,254 (46,652) 21,606 79 21,685 Number Amount (**) capital Deficit Shareholders Interests Equity Common stock (**) Additional paid-in Accumulated Total Attributed to the company’s Non- Controlling Total Number Amount capital Deficit Shareholders Interests Equity Balance as of January 1, 2025 5,296,945 3 28,482 (22,714) 5,771 1,736 7,507 Balance 5,296,945 3 28,482 (22,714) 5,771 1,736 7,507 Net loss - - - (3,668) (3,668) (176) (3,844) Shares issued in connection with the Reverse Stock Split (see note 10.F) 14 -(*) - - - - - Issuance of shares in connection with acquisition of a subsidiary (see note 6.B) 1,323,000 -(*) 5,159 - 5,159 - 5,159 Share-based compensation - - - - - 3 3 Balance as of March 31, 2025 6,619,959 3 33,641 (26,382) 7,262 1,563 8,825 Balance 6,619,959 3 33,641 (26,382) 7,262 1,563 8,825 (*) Represents an amount less than $1. (**) Share and per share data in these financial statements for periods preceding the Reverse Stock Split have been retrospectively adjusted to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Stock Split (see note 10.F). The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -7- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) U.S. dollars in thousands (except share data) 2026 2025 For the three months ended March 31, 2026 2025 Cash flows from Operating Activities of Continuing Operations Net loss 605 3,844 Less: net loss from discontinued operations - 880 Net loss from continuing operations 605 2,964 Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities: Depreciation and amortizations 224 173 Share-based compensation - - Deferred taxes (28) (8) Accrued interest, net 25 (19) Interest income - (38) Amortization of loan discounts - 22 Change in the fair value of financial liabilities at fair value through profit or loss (see note 8) - 2,723 Amortization of deferred debt issuance costs (see notes 7.D, 7.E, 7.F) 4 68 Changes in assets and liabilities items: Decrease (increase) in accounts receivable (40) 121 Increase in other current assets (36) (53) Decrease in accounts payable (194) (111) Increase in other payables 46 277 Net cash provided by (used in) operating activities from continuing operations (604) 191 The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -8- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Cont.) U.S. dollars in thousands (except share data) For the three months ended March 31, 2026 2025 Cash flows from Investing Activities of Continuing Operations Net cash from acquisition of subsidiaries (see appendix A and note 6.B) 193 12 Net cash used in investing activities from continuing operations 193 12 Cash flows from Financing Activities of Continuing Operations Receipt of short-term bank loans 7 2,029 Repayment of short-term bank loans - (1,565) Repayment of long-term bank loans (196) (658) Change in loan to former parent company - 6 Proceeds from issuance of shares and warrants in connection with the 2026 Private Placement (see note 10.D) 1,400 - Net cash provided by (used in) financing activities from continuing operations 1,211 (188) Cash flows of Discontinued Operations Net cash used in operating activities from discontinued operations - (600) Net cash used in investing activities from discontinued operations - - Net cash provided by financing activities from discontinued operations - 143 Net cash used in discontinued operations - (457) Increase in cash and cash equivalents and restricted cash 800 15 Cash and cash equivalents and restricted cash at beginning of period 1,038 54 Cash and cash equivalents and restricted cash at end of period 1,838 69 Supplemental Disclosure of Cash Flow Activities: Cash paid during the period Taxes paid 2 1 Interest paid 34 120 Total Cash paid during the period 36 121 Substantial non-cash activities: Issuance costs payable in connection with the 2026 Private Placement (see note 10.D) 70 - Issuance of warrants in connection with the 2026 Private Placement (see note 10.D) 34 - Classification of Earn-out liability to Earn-out payable (see note 8) 67 - The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -9- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Cont.) U.S. dollars in thousands (except share data) Appendix A: As of March 4, 2026 Consolidation of Quantum Israel (see note 6.C): Net working capital other than cash and restricted deposits 211 Property and equipment 9 Goodwill 14,326 In-process research and development, net of deferred taxes 1,232 Non-controlling interests (79) Total consideration (15,892) Balance as of March 4, 2026 (193) The accompanying notes are an integral part of these Interim Condensed Consolidated financial statements. -10- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) U.S. dollars in thousands (except share data) NOTE 1: GENERAL A. Organizational Background Quantum X Labs Inc. (formerly known as Viewbix Inc.) (the “Company”) was incorporated in the State of Delaware on August 16, 1985, under a predecessor name, The InFerGene Company (“InFerGene Company”). On August 25, 1995, a wholly owned subsidiary of InFerGene Company merged with Zaxis International, Inc., an Ohio corporation, which following such merger, the surviving entity, InFerGene Company, changed its name to Zaxis International, Inc. In 2015, the Company changed its name to Emerald Medical Applications Corp., subsequent to which the Company, through its subsidiary, was engaged in the development of technology for use in detection of skin cancer. On January 29, 2018, the Company ceased its business operations in this field. On January 17, 2018, the Company formed a new wholly owned subsidiary under the laws of the State of Israel, Virtual Crypto Technologies Ltd. (“VCT Israel”), to develop and market software and hardware products facilitating and supporting the purchase and/or sale of cryptocurrencies. Effective as of March 7, 2018, the Company’s name was changed from Emerald Medical Applications Corp. to Virtual Crypto Technologies, Inc. VCT Israel ceased its business operation in 2019 and prior to consummation of the Recapitalization Transaction. On January 27, 2020, VCT Israel was sold to a third party for NIS 50 thousand (approximately $13). On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange Agreement” or the “Recapitalization Transaction”) with Gix Internet Ltd., a company organized under the laws of the State of Israel (“Gix” or “Former Parent Company”), pursuant to which, Gix assigned, transferred and delivered its 99.83% holdings in Viewbix Ltd., a company organized under the laws of the State of Israel (“Viewbix Israel”), to the Company in exchange for shares of the Company, which resulted in Viewbix Israel becoming a subsidiary of the Company. In connection with the Share Exchange Agreement, effective as of August 7, 2019, the Company’s name was changed from Virtual Crypto Technologies, Inc. to Viewbix Inc. Effective April 30, 2026, the Company. changed its name to Quantum X Labs Inc. B. Reorganization Transaction On December 5, 2021, the Company entered into a certain Agreement and Plan of Merger with Gix Media Ltd. (“Gix Media”), an Israeli company and the majority-owned (77.92%) subsidiary of Gix, the Former Parent Company and Vmedia Merger Sub Ltd., an Israeli company and wholly-owned subsidiary of the Company (“Merger Sub”), pursuant to which, Merger Sub merged with and into Gix Media, with Gix Media being the surviving entity and a wholly-owned subsidiary of the Company (the “Reorganization Transaction”). On September 19, 2022, the Reorganization Transaction was consummated and as a result, all outstanding ordinary shares of Gix Media, having no par value (the “Gix Media Shares”) were delivered to the Company in exchange for the Company’s shares of common stock, par value $0.0001 per share (“Common Stock”). As a result of the Reorganization Transaction, the former holders of Gix Media Shares, who previously held approximately 68% of the Company’s Common Stock, hold approximately 97% of the Company’s Common Stock, and Gix Media became a wholly owned subsidiary of the Company. -11- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) U.S. dollars in thousands (except share data) NOTE 1: GENERAL (Cont.) B. Reorganization Transaction (Cont.) In connection with the closing of the Reorganization Transaction, the Company filed an Amended and Restated Certificate of Incorporation (the “Amended COI”) with the Secretary of State of Delaware, effective as of August 31, 2022, pursuant to which, concurrently with the effectiveness of the Amended COI, the Company, among other things, effected a reverse stock split of its common stock at a ratio of 1-for-28. As the Company and Gix Media were consolidated both by the Former Parent Company and Xylo Technologies Ltd. (formerly known as Medigus Ltd.) (the “Ultimate Parent”), before and after the Reorganization Transaction, the Reorganization Transaction was accounted for as a transaction between entities under common control. Accordingly, the financial information of the Company and Gix Media is presented in these financial statements, for all periods presented, reflecting the historical cost of the Company and Gix Media, as it is reflected in the consolidated financial statements of the Former Parent Company, for all periods preceding March 1, 2022, the date the Ultimate Parent obtained a controlling interest in the Former Parent Company and as it is reflected in the consolidated financial statements of the Ultimate Parent for all periods subsequent to March 1, 2022. C. Business Overview The Company and its subsidiaries (the “Group”) are focused on quantum technology, digital advertising and computing and enterprise artificial intelligence (AI) solutions. The Company, through its subsidiaries Gix Media and the former majority-owned subsidiary of Gix Media, Cortex Media Group Ltd. (“Cortex”), operates in the field of digital advertising. As of November 2025, the Company had two main activities which were reported as separate operating segments: the search segment and the digital content segment. On November 9, 2025, Gix Media sold all of its holdings in Cortex (see note 6.A). Subsequently, the Company ceased its operations in the digital content segment. The search segment develops a variety of technological software solutions, which perform automation, optimization, and monetization of internet campaigns, for the purposes of obtaining and routing internet user traffic to its customers. The search segment activity is conducted by Gix Media. The digital content segment was engaged in the creation and editing of content, in different languages, for different target audiences, for the purposes of generating revenues from leading advertising platforms, by utilizing such content to obtain and route internet user traffic for its customers. The digital content segment activity was conducted by Cortex until November 9, 2025 (see note 6.A). On March 24, 2025, the Company entered into a securities exchange agreement with Metagramm Software Ltd. (“Metagramm”) and all of the shareholders of Metagramm, pursuant to which the Company acquired 100% of Metagramm’s share capital in exchange for consideration equal to $5,159. The consideration was paid to Metagramm’s shareholders in the form of 1,323,000 shares of common stock of the Company, representing 19.99% of the Company’s issued and outstanding share capital (see note 6.B). -12- QUANTUM X LABS INC. (formerly known as Viewbix Inc.) NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) U.S. dollars in thousands (except share data) NOTE 1: GENERAL (Cont.) C. Business Overview (Cont.) Metagramm specializes in developing advanced writing assistance tools that leverage artificial intelligence, machine learning and natural language processing technologies. Metagramm’s main product, “Bubbl” is a writing tool designed to provide personalized and customized text tailored to the u