Gaxos.ai Inc. (NASDAQ: GXAI) reported financial results for the third quarter ended September 30, 2026, highlighting a significant increase in revenue and a reduction in advertising expenses.
For the third quarter of 2026, the company reported consolidated revenue of approximately $2.81 million. This figure represents a sequential increase of 14.5% from approximately $2.46 million in the second quarter of 2026. Year-over-year, revenue grew by 464.9%, rising from approximately $0.50 million in the third quarter of 2025.
Operating expenses also shifted during the period. Advertising and marketing expense decreased by 16.7%, falling from approximately $3.14 million in the second quarter to approximately $2.62 million in the third quarter. As a result, the company’s revenue per dollar of advertising and marketing expense improved by approximately 38%, reaching $1.08 compared to $0.78 in the prior quarter.
On the balance sheet, as of September 30, 2026, Gaxos held cash and short-term investments totaling approximately $13.30 million. The company reported a basic and diluted net loss per common share attributable to common shareholders of $0.08 for the third quarter of 2026, an improvement from a loss of $0.14 in the same period of the prior year.
Gaxos also disclosed that during the third quarter, it received approximately $3.17 million in net proceeds from warrant exercises and issued 3,007,654 shares of common stock. The company stated it did not issue shares through its at-the-market offering program during the quarter.
The company’s operations include Gaxos Labs, which develops AI-powered applications, and RNK Health, a majority-owned subsidiary offering personalized weight loss and longevity treatments. Gaxos also holds a strategic minority investment in America First Defense.AI.
