Nautilus to report third-quarter results on October 27 after first quarterly revenue
Key Facts
Revenue followed the company’s report that it recorded its first revenue in the second quarter of 2026. It said at the time that the revenue included a grant from the Michael J. Fox Foundation and services provided to the first customer in its Iterative Mapping early-access program. The third-quarter results mark the company’s transition to recording revenue, while losses and expenses remained above year-earlier levels.
In the second quarter, operating expenses were $15.9 million, down $1.2 million, or 7%, from $17.1 million in the same quarter of 2025. The company attributed the decline to lower salaries, benefits, stock-based compensation and facility costs. It also reported a net loss of $14.5 million, compared with $15.0 million a year earlier. Cash, cash equivalents and investments totaled $129.2 million on June 30, 2026. The quarterly figures put ongoing operating spending and losses in context, without the company providing an estimate of its cash runway.
Management had said funding for the shift to accelerate development of proteoform applications would come from reallocating resources, not additional spending. “We are funding this transition by reallocating resources rather than through additional spending,” CEO Sujal Patel said. In its previous update, the company linked the change to accelerating application development and said it did not alter its broader financial assumptions. The approach comes as the company seeks to build a business around its technology, after beginning to record revenue from the grant and services. The third-quarter results did not provide a separate figure for the financial impact of reallocating resources.
On the research front, Nautilus announced on September 4 the publication of a peer-reviewed study in Nature Methods on the analysis of tau proteoforms. The company said the methodology revealed disease-associated modifications on intact tau molecules, as part of efforts to expand understanding of different protein forms. According to the study’s findings cited by the company, the Iterative Mapping approach analyzed 130 sets of tau proteoforms at scale. The analysis measured proteoforms present at 0.1% of the sample, with a median coefficient of variation below 5.5%. The results provide quantitative details on accuracy, sensitivity and measurement reproducibility that the company said the study demonstrated.
The company aims to expand its approach to about 20 proteoform assays by mid-2028, with applications including Parkinson’s disease and tumors. It previously set a target to open preorders for the Voyager platform in early 2027 and begin shipping devices in mid-2027. In an update on its SEEDS program, the company said potential funding could reach $6 million to support Voyager’s deployment in Alzheimer’s and cancer research. These remain future milestones announced by the company as part of its research and commercial plans, following its first quarterly revenue. The conference call accompanying the third-quarter results was scheduled for October 27 at 5:30 a.m. Pacific time, or 8:30 a.m. Eastern time.