IDAHO FALLS, Idaho, May 21, 2026 /PRNewswire/ -- Radnostix, Inc. (formerly International Isotopes Inc.) (OTCQB: INIS) ("Radnostix" or the "Company"), a manufacturer of radioisotope-focused products for medical, industrial, and research applications, today announced its financial results for the first quarter ended March 31, 2026 and the filing of its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission.
First Quarter 2026 Financial and Operational Summary
- Total revenue decreased 27% to $2.38 million from $3.24 million in the first quarter of 2025, driven by recall impacts, isotope shortages, and Co60 down time.
- Gross profit decreased 43% to $1.15 million from $2.03 million in the prior-year period, reflecting recall impacts and changes in labor cost allocation.
- Cash and cash equivalents stood at $1.35 million at quarter-end (down from $1.70 million at December 31, 2025), with net cash used in operating activities of $72,442.
- Completed construction and received initial NRC license amendment for a dedicated Calibration & Reference Products manufacturing facility, positioning the Company for significant capacity expansion and product portfolio growth in 2026.
- Completed repair and retrofit of Cobalt-60 hot cell, adding 15 to 20 years of life to the asset. Restarted commercial activities in Q1 2026 after more than 5 months of down time.
- Executed mutual termination of the DUF6 asset sale agreement; Radnostix regained full control of these strategic assets amid the global nuclear energy boom and will evaluate development options, including potential license amendments for expanded uranium-related activities.
Shahe Bagerdjian, President and Chief Executive Officer, commented: "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."
2026 Outlook
- Strategic evaluation of the DUF6 assets to capitalize on renewed global interest in uranium fuel cycle services (Q2 2026).
- Full commercial launch of the EasyFill Automated Capsule System and RadVent products (both targeted for Q3 2026).
- Continued expansion of the Calibration & Reference Products facility and product line.
- Submitting a I-131 GMP API drug master file (Q4 2026) for theranostics applications for existing and new customers.
Three Months ended March 31, | ||||||||||||||||
2026 | 2025 | $ Change | % Change | |||||||||||||
Sale of product | $ | 2,378,924 | $ | 3,238,900 | $ | (859,976) | -27 % | |||||||||
Gross profit | 1,150,948 | 2,032,037 | (881,089) | -43 % | ||||||||||||
Total Operating Expense | 2,460,980 | 2,097,053 | 146,702 | 7 % | ||||||||||||
Operating Profit (Loss) Before Other Exp. | (1,310,032 | (65,016) | (1,027,791) | -1581 % | ||||||||||||
Other Income (Expense) | (38,054) | (47,678) | 9,624 | 20 % | ||||||||||||
Net Loss | $ | (1,348,086) | $ | (112,694) | $ | (1,018,167) | -903 % | |||||||||
Net loss per common share - basic: | - | - | ||||||||||||||
Net loss per common share - diluted: | - | - | ||||||||||||||
Weighted avg. shares outstanding - basic | 528,459,473 | 524,082,026 | ||||||||||||||
Weighted avg. shares outstanding - diluted | 528,459,473 | 524,082,026 | ||||||||||||||
Three Months ended March 31, | ||||||||
2026 | 2025 | $ Change | % Change | |||||
Net loss | $ | (1,348,086) | $ | (112,694) | $ (1,018,167) | -903 % | ||
Interest expense, net | 70,529 | 62,027 | 8,502 | 14 % | ||||
Provision for income taxes | - | - | - | - | ||||
Depreciation and amortization | 110,188 | 97,945 | 12,243 | 12 % | ||||
EBITDA | (950,144) | 47,278 | (997,422) | -2110 % | ||||
Non-cash stock-based compensation | 244,059 | 70,279 | (43,445) | -62 % | ||||
Adjusted EBITDA | $ (923,310) | $ | 117,557 | $ (1,040,866) | -885 % | |||
About Radnostix (formerly International Isotopes Inc.): Radnostix, Inc. (formerly International Isotopes Inc.) (INIS), established in 1995, with its headquarters in Idaho Falls, ID, USA, manufactures a wide range of radioisotope-focused products. Radnostix manufactures and supplies generic sodium iodide I-131 radio-pharmaceutical drug product for hyperthyroidism and thyroid cancer. Radnostix provides contract manufacturing of various drug products as well as radioisotope API supply for 3rd party theranostics clients. Radnostix manufactures and distributes a complete line of calibration and reference standards for nuclear pharmacies and SPECT/PET imaging systems as well as industrial calibration standards under its RadQual brand. For more information, visit www.radnostix.com.
Non-GAAP Financial Measures
This report contains financial measures that do not comply with U.S. generally accepted accounting principles ("GAAP"), such as EBITDA and Adjusted EBITDA. EBITDA is defined as net income plus interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA, adjusted to exclude items that are deemed to be unusual and non-recurring, and that we do not believe are indicative of the companies recurring operating performance, such as non-cash stock-based compensation, gain on disposal of assets, and costs associated with NRC enforcement matters and our medical devices buildout.
These non-GAAP financial measures are supplemental measures to our results of operations as reported under GAAP. Our management uses these measures to better analyze our financial results and business operations. In management's opinion, these non-GAAP measures are useful to investors and other users of our financial statements by providing greater transparency into the ongoing operating performance of the Company and its future outlook. Such measures should not be considered alternatives to net income or any other performance measures derived in accordance with GAAP. The Company's measurement of EBITDA and Adjusted EBITDA may not be comparable to similar measures of other companies as they are not performance measures calculated in accordance with GAAP.
See the tables above for reconciliations of GAAP to non-GAAP measures.
Radnostix, Inc. (formerly International Isotopes Inc.) Safe Harbor Statement:
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to, statements regarding the Company's current expected financial impact from the termination of the APA, the estimated value of the DUF6 Plant and related assets, statements with respect to the Company's future growth expectations. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance, or achievements of Radnostix, Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2024. Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and Radnostix, Inc. and the Company undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Radnostix Contact:
[email protected]
radnostix.com
SOURCE International Isotopes Inc.
