季報
季度報告
10-Q
2026-05-15
Safe Pro Group Inc. 首季收入飆升近6倍至122萬美元 淨虧損收窄30%
AI 繁中摘要
申報類型: 10-Q（季度報告） | 財政年度2026年第一季（截至2026年3月31日）
Safe Pro Group Inc.（納斯達克：SPAI）公佈2026財年第一季業績，受產品銷售強勁增長帶動，收入錄得顯著反彈。期內總收入達122萬美元，較去年同期的18.5萬美元急升近6倍，主要受惠於防護裝備及無人機相關產品出貨增加；服務收入亦由4.4萬美元增至6.9萬美元。
毛利由6.2萬美元大幅改善至83萬美元，毛利率升至68%，反映產品組合優化及成本控制見效。經營開支則按年下降8%至375萬美元，主要由於專業費用及薪酬開支減少；期內錄得研發開支36萬美元，去年同期為零，顯示公司持續投入AI及無人機技術。
淨虧損為279萬美元，較去年同期的397萬美元收窄約30%；每股虧損0.14美元（去年同期0.27美元）。經調整EBITDA未單獨披露，但營運現金流為負118萬美元（去年同期負94萬美元），主要受庫存及預付項目變動影響。
截至季末，公司持有現金1,480萬美元，流動資金充裕。期內動用73萬美元回購約14萬股普通股（庫存股計劃）。資產負債表方面，總資產1,674萬美元，股東權益1,542萬美元，無重大債務（僅餘14.6萬美元SBA貸款）。
管理層指出，2025年8月及10月透過私募合共籌集約2,200萬美元，有效消除持續經營疑慮，預期現金儲備足以支持未來12個月營運及增長計劃。公司將繼續聚焦人工智能影像分析、無人機遙感及個人防護裝備三大業務，並積極拓展政府及人道組織客戶。
對投資者而言，收入強勁增長及虧損收窄屬正面訊號，惟需留意營運現金流仍為負數，以及全球經濟與地緣政治風險可能影響訂單穩定性。
展開英文正文
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Commission File Number 001-42261 SAFE PRO GROUP INC. (Exact name of registrant as specified in its charter) Delaware 87-4227079 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 18305 Biscayne Blvd. Suite 222 Aventura, Florida 33160 (Address of principal executive offices) (Zip Code) (786) 409-4030 (Registrant’s telephone number, including area code) 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 SPAI The Nasdaq Stock Market Inc. 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 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, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 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 by Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date. As of May 15, 2026, the registrant had outstanding 20,618,817 shares of common stock. FORM 10-Q INDEX Page PART I: FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) 1 CONDENSED CONSOLIDATED BALANCE SHEETS 1 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 2 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY 3 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 4 NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 5 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 30 ITEM 4. CONTROLS AND PROCEDURES 30 PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS 32 ITEM 1A. RISK FACTORS 32 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 32 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 32 ITEM 4. MINE SAFETY DISCLOSURES 32 ITEM 5. OTHER INFORMATION 32 ITEM 6. EXHIBITS 32 SIGNATURES 33 i PART I: FINANCIAL INFORMATION Item 1. Financial Statements SAFE PRO GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2026 December 31, 2025 (Unaudited) ASSETS CURRENT ASSETS: Cash $14,802,060 $16,793,088 Accounts receivable and other receivables, net 61,723 100,028 Inventory 453,815 615,024 Prepaid expenses and other current assets 249,208 420,306 Total current assets 15,566,806 17,928,446 OTHER ASSETS: Property and equipment, net 307,757 283,087 Right of use assets, net 39,568 59,010 Intangible assets, net 812,669 834,461 Security deposits 9,800 9,800 Total other assets 1,169,794 1,186,358 TOTAL ASSETS $16,736,600 $19,114,804 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $463,647 $461,306 Accrued expenses 207,110 278,119 Due to related parties 437,090 437,362 Contract liabilities 28,230 18,897 Lease liabilities, current portion 36,554 55,160 Total current liabilities 1,172,631 1,250,844 LONG-TERM LIABILITIES Note payable 146,000 146,000 Lease liabilities, net of current portion - 947 Total long-term liabilities 146,000 146,947 Total liabilities 1,318,631 1,397,791 STOCKHOLDERS’ EQUITY Preferred stock: $0.0001 par value, 10,000,000 shares authorized; Series A preferred stock; 3,000,000 shares designated, 0 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively - - Series B preferred stock; 3,275,000 shares designated, 0 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively - - Series C preferred stock; 2,000 shares designated, 0 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively - - Preferred stock, value - - Common stock; $0.0001 par value, 200,000,000 shares authorized, 20,889,586 shares issued and 20,586,317 outstanding at March 31, 2026, and 20,899,270 shares issued and 20,736,816 outstanding at December 31, 2025 2,089 2,090 Treasury Stock; at cost, 303,269 and 162,454 shares of common stock at March 31, 2026 and December 31, 2025, respectively (1,407,113) (676,034) Additional paid-in capital 48,190,008 46,964,487 Accumulated deficit (31,367,015) (28,573,530) Total stockholders’ equity 15,417,969 17,717,013 Total liabilities and stockholders’ equity $16,736,600 $19,114,804 See the accompanying notes to the unaudited condensed consolidated financial statements. 1 SAFE PRO GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 2026 2025 For the Three Months Ended March 31, 2026 2025 REVENUES: Product sales $1,151,023 $140,600 Services 69,106 44,202 Total Revenues 1,220,129 184,802 COST OF REVENUES: Product sales 337,082 92,316 Services 29,686 12,256 Depreciation Expense 22,932 18,664 Total Cost of Revenues 389,700 123,236 GROSS PROFIT 830,429 61,566 OPERATING EXPENSES: Salary, wages and payroll taxes 1,650,663 2,024,543 Research and development 360,397 - Professional fees 922,257 1,602,148 Selling, general and administrative expenses 758,610 355,863 Depreciation and amortization 55,891 84,702 Total Operating Expenses 3,747,818 4,067,256 LOSS FROM OPERATIONS (2,917,389) (4,005,690) OTHER INCOME (EXPENSES): Other income - 29,615 Interest income 126,900 12,703 Interest expense (2,996) (1,645) Total Other Income (Expenses), net 123,904 40,673 NET LOSS $(2,793,485) $(3,965,017) NET LOSS PER COMMON SHARE: Basic and diluted $(0.14) $(0.27) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic and diluted 20,634,454 14,747,185 See accompanying notes to the unaudited condensed consolidated financial statements 2 SAFE PRO GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY For the Three Months Ended March 31, 2025 # of Shares Amount # of Shares Amount # of Shares Amount Paid-in Capital Accumulated Deficit Shareholders’ Equity Series A Preferred Stock Series B Preferred Stock Common Stock Additional Total # of Shares Amount # of Shares Amount # of Shares Amount Paid-in Capital Accumulated Deficit Stockholders’ Equity Balance, December 31, 2024 - $- - $- - 14,534,685 $1,453 $18,123,723 - $(14,250,751) $3,874,425 Stock based compensation - - - - 637,500 64 2,669,273 - 2,669,337 Contributed capital 64,615 - 64,615 Net loss - - - - - - - - - (3,965,017) (3,965,017) Balance, March 31, 2025 - $- - $- - 15,172,185 $1,517 20,857,611 - $(18,215,768) $2,643,360 For the Three Months Ended March 31, 2026 # of Shares Amount # of Shares Amount # of Shares Amount # of Shares Amount Paid-in Capital Treasury Stock Accumulated Deficit Shareholders’ Equity Series A Preferred Stock Series B Preferred Stock Series C Preferred Stock Common Stock Additional Total # of Shares Amount # of Shares Amount # of Shares Amount # of Shares Amount Paid-in Capital Treasury Stock Accumulated Deficit Stockholders’ Equity Balance, December 31, 2025 - - - - - - 20,736,816 2,090 46,964,487 (676,034) (28,573,530) 17,717,013 Stock based compensation - - - - - - 57,500 6 1,225,514 - - 1,225,520 Return of common shares - - - - - - (67,184) (7) 7 - - - Purchase of Treasury Stock in connection with Stock Repurchase program - - - - - - (140,815) - - (731,079) - (731,079) Net loss - - - - - - - - - - (2,793,485) (2,793,485) Balance, March 31, 2026 - $- - - - - 20,586,317 2,089 48,190,008 (1,407,113) (31,367,015) 15,417,969 See accompanying unaudited notes to the condensed consolidated financial statements. 3 SAFE PRO GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 2026 2025 For the Three Months Ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $(2,793,485) $(3,965,017) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 78,822 103,366 Stock-based compensation and professional fees 1,225,520 2,669,337 Change in operating assets and liabilities: Accounts receivable 38,305 107,901 Inventory 161,209 28,344 Prepaid expenses and other assets 171,098 69,731 Accounts payable 2,341 106,247 Accrued expenses (71,009) (4,601) Contract liabilities 9,333 (57,026) Lease liability (111) (33) NET CASH USED IN OPERATING ACTIVITIES (1,177,977) (941,751) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (48,200) (18,247) Investment in internal-use software (33,500) (105,112) NET CASH USED IN INVESTING ACTIVITIES (81,700) (123,359) CASH FLOWS FROM FINANCING ACTIVITIES: Purchases of treasury stock in connection with Stock Purchase Program (731,079) - Proceeds from related party advances 5,934 15,816 Repayment of due to related party (6,206) (9,206) NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (731,351) 6,610 NET DECREASE IN CASH (1,991,028) (1,058,500) CASH, beginning of period 16,793,088 1,970,719 CASH, end of period $14,802,060 $912,219 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid for: Interest $2,996 $1,645 Income taxes $- $- SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Contributed services $- $64,615 See accompanying notes to the unaudited condensed consolidated financial statements. 4 SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (unaudited) NOTE 1 - NATURE OF ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Safe Pro Group. Inc. (the “Company”) is a Delaware corporation organized on December 15, 2021, under the name of Cybernate Corp and started doing business on January 1, 2022. On July 13, 2022, the Company changed its name from Cybernate Corp. to Safe Pro Group Inc. Through a layered approach to the development and integration of advanced artificial intelligence and machine learning, drone-based remote sensing technologies and services, and personal protective gear, the Company has acquired companies with unique safety and security technologies and solutions that can provide governments, enterprises and non-government organizations with innovative solutions designed to respond to evolving threats. As of March 31, 2026, the Company conducts its operations through several wholly owned subsidiaries. On June 7, 2022, pursuant to a Share Exchange Agreement, the Company acquired 100% of the issued and outstanding member interests of Safe-Pro USA LLC, a Florida limited liability company engaged in the manufacture and sale of ballistic and explosive ordnance disposal protection equipment. On August 29, 2022, the Company acquired 100% of the issued and outstanding shares of Airborne Response Corp., a Florida corporation that provides mission-critical aerial intelligence and drone-based services. On March 9, 2023, the Company acquired 100% of the member interests of Safe Pro AI LLC, a New York limited liability company that owns certain software technologies for automated aerial and ground-based imagery processing; this transaction was accounted for as an asset acquisition in accordance with ASC 805 and no goodwill was recorded. On December 23, 2025, the Company formed SPAI Ventures LLC, a Florida limited liability company. As of March 31, 2026, SPAI Ventures LLC had no operations, assets, or liabilities. Liquidity and going concern uncertainties As reflected in the accompanying unaudited condensed consolidated financial statements; the Company generated a net loss of $2,793,485 and used cash in operations of $1,177,977, during the three months ended March 31, 2026, and has an accumulated deficit of $31,367,015 on March 31, 2026. As of March 31, 2026, the Company had a cash balance of $14,802,060 and working capital of $14,394,175. On October 21, 2025, the Company sold 2,000,000 shares of the Company’s common stock at a purchase price of $7.00 per share. The gross proceeds to the Company from the offering were approximately $14.0 million, before deducting the fees and expenses. On August 21, 2025, the Company sold (i) 2,000,000 shares of the Company’s common stock, and (ii) 3 three-year warrants to purchase up to 2,000,000 shares of the Company’s common stock at an exercise price of $6.00 per share (the “August Warrants”). The combined purchase price of one share of common stock and one accompanying August Warrant was $4.00. The gross proceeds to the Company from the offering were approximately $8.0 million, before deducting the fees and expenses, and excluding the proceeds, if any, from the exercise of the August Warrants. On May 9, 2025, the Company sold: (i) 1,050 shares of Series C convertible preferred stock (the “Preferred Stock”) a price of $1,000 per share of Preferred Stock for aggregate gross proceeds of $1.05 million, and (ii) 3 three-year warrants to purchase the number of shares of Company’s common stock equal to the number of Conversion Shares (defined below) underlying the Preferred Stock on the date of issuance at an exercise price of $2.93 per share (the “May Warrants”). Each share of Preferred Stock had a stated value (the “Stated Value”) of $1,100 per share. Each holder of Preferred Stock was able to convert all, or any part, of the Stated Value of the outstanding Preferred Stock, at any time at such holder’s option, into shares of the Common Stock (which converted shares of Common Stock are referred to as “Conversion Shares”)at an initial fixed “Conversion Price” of $2.25, which was subject to proportional adjustment upon the occurrence of any stock split, stock dividend, stock combination and/or similar transactions. As of the date of this report, all shares of Preferred Stock have been converted into Company common stock. The aggregate gross proceeds of $22,000,000 pursuant to the August 21, 2025 and October 21, 2025 private placements of $8,000,000 and $14,000,000, respectively, serve to mitigate the conditions that historically raised substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the Company has sufficient cash to meet its obligations for a minimum of twelve months from the date of this filing. 5 SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (unaudited) Basis of presentation and principles of consolidation The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, Safe-Pro USA, Airborne Response, and Safe Pro AI. All intercompany accounts and transactions have been eliminated in consolidation. Management acknowledges its responsibility for the preparation of the accompanying unaudited condensed consolidated financial statements which reflect all adjustments, consisting of normal recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the periods presented. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information and note disclosure normally included in consolidated financial statements prepared in accordance with U.S. GAAP has been condensed or omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements for the years ended December 31, 2025 and 2024 of the Company which is included in Form 10-K, as filed on March 31, 2026. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the three months ended March 31, 2026 and 2025, include estimates for allowance for credit losses on accounts receivable and other receivables, estimates for obsolete or slow-moving inventory, the useful life of property and equipment, the valuation of assets acquired in an asset acquisition, the valuation of intangible assets and goodwill to determine any impairment, the estimate of the fair value of lease liabilities and related right of use assets, assumptions used in assessing impairment of long-lived assets, estimates related to the allocation of the transaction price for revenue recognition purposes, estimates of current and deferred income taxes and deferred tax valuation allowances, and the fair value of non-cash equity transactions Risks and uncertainties The Company’s cash is held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation (“FDIC”) limit. In August 2024, the Company entered into a deposit placement agreement for Insured Cash Sweep Service (“ICS”). This service is a secure, and convenient way to access FDIC protection on large deposits and earn a return. This service provides for deposits in excess of $250,000 to be distributed over multiple institutions, so that at any given time there are no sums in excess of FDIC insured levels. To date, the Company has not experienced any losses on its invested cash. As of March 31, 2026 and December 31, 2025, the Company had no cash in bank in excess of FDIC insured levels. The Company’s results of operations could be adversely affected by general conditions in the global economy and in the global financial markets, including conditions that are outside of its control, including the impact of health and safety concerns, and war in Ukraine and the Middle East. The most recent global financial crisis caused extreme volatility and disruptions in the capital and credit markets. A severe or prolonged economic downturn could result in a variety of risks to our business, including weakened demand for the Company’s products and services and its ability to raise additional capital when needed on acceptable terms, if at all. A weak or declining economy could strain the Company’s domestic and international customers, possibly resulting in delays in customer payments. Any of the foregoing could harm the Company’s business and it cannot anticipate all the ways in which the current economic climate and financial market conditions could adversely impact the Company’s business. Revenue recognition In accordance with ASU Topic 606 - Revenue from Contracts with Customers, the Company recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. 6 SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (unaudited) Safe-Pro USA The Company recognizes revenue when, or as, the performance obligation is satisfied. Performance obligations are determined through a review of customer contracts and may differ between customers depending upon contract terms. Revenue from Safe-Pro USA customers is generally recognized at the time of shipment, which is the time that the Company satisfies its performance obligations. Revenue from product sales is recognized when the related goods are shipped whereas revenue from training and inspection activities is recognized when the services are completed, and payment is probable. Discounts in multiple elements sold as a single arrangement are allocated proportionately to the individual elements based on the fair value charged when the element is sold separately. Airborne Response Airborne Response recognizes revenue when, or as, the performance obligation is satisfied. Performance obligations are determined through a review of customer contracts and may differ between customers depending upon contract terms. Revenues from services are recognized at a point in time when Airborne Response completes services pursuant to its agreements with clients and collectability is probable. Safe Pro AI Safe Pro AI sales are comprised of Safe Pro Object Threat Detection (SPOTD) technology ecosystem, SpotlightAI™, OnSight and SPOTD NODE (Navigation, Observation & Detection Engine) product sales and subscriptions and licenses to its customers for the use of its software under a software-as-a-service subscription model (“SaaS”), which allows for the rapid, automated processing of aerial and ground-based imagery uploaded by customers, making it an ideal solution for a number of applications including defense, demining, in law enforcement and border security. Safe Pro AI’s, SaaS offerings are sold under a license or prepaid or postpaid, usage-based pricing system pursuant to a tiers model, allowing customers to choose the subscription level to be charged based upon their intended usage. The subscription tiers will utilize declining prices as the volume grows. Under this model, customers are charged an upfront fee based upon the number of gigapixels of aerial images uploaded into the system for processing. For customer convenience, Safe Pro AI will initially charge data processing fees on a per hectare basis (1 hectare = 1,000 square meters). Under prepaid pay-as-you-go plans, revenues related to contracts that do not include a specified contract period are recognized upon usage by the customer and satisfaction of the Company’s performance obligation. These usage-based revenues are constrained to the amount the Company expects to be entitled to and receive in exchange for providing access to its platform. If professional services are deemed to be distinct, revenue is recognized as services are performed. The Company does not view the signing of the contract or the provision of initial setup services as discrete earnings events that are distinct. Contract liabilities Advance payments received from customers, as well as unpaid amounts that customers are contractually obligated to pay, are deferred until all revenue recognition criteria are satisfied. As of March 31, 2026 and December 31, 2025, customer advanced payments amounted to $28,230 and $18,897, respectively, which are included in contract liabilities on the accompanying consolidated balance sheets. Advertising costs All costs related to advertising the Company’s services and products are expensed in the period incurred. For the three months ended March 31, 2026 and 2025, advertising costs charged to operations were $11,475 and $61,876, respectively, are included in general and administrative expenses on the accompanying consolidated statements of operations. 7 SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (unaudited) Net loss per common share ASC 260 “Earnings Per Share”, requires dual presentation of basic and diluted earnings (loss) per common share (“EPS”) with a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic EPS excludes dilutive securities and non-vested forfeitable shares. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares or resulted in the issuance of common shares that then shared in the earnings of the entity. Basic net loss per common share is computed by dividing net loss available to shareho