CARLSBAD, Calif., July 29, 2026 (GLOBE NEWSWIRE) -- AppTech Payments Corp. ("AppTech" or the "Company") (OTCQB: APCX), a fintech company, today announced financial results for the second quarter ended June 30, 2026.
Revenue increased for the third consecutive quarter to $1.7 million from $1.4 million in the first quarter of 2026 and $0.3 million a year ago. Quarterly revenue improved notwithstanding the loss of most BAAS revenue due to business flow disruptions with our principal banking partner, as previously disclosed.
We continue to work cooperatively with the bank and believe our working relationship has improved. Our efforts to reestablish our BAAS revenue are ongoing.
The Company reported a GAAP operating loss of $0.9 million for the second quarter of 2026, a significant improvement from $1.9 million in the second quarter of 2025 and $2.9 million in the first quarter of 2026. GAAP net loss also improved to $1.0 million for the second quarter of 2026, compared to $1.9 million in the second quarter of 2025 and $3.3 million in the first quarter of 2026.
Cash based operations experienced a loss of $0.5 million for the second quarter of 2026, compared to $1.6 million in the second quarter of 2025 and $0.7 million in the first quarter of 2026.
Felipe Corrado, Interim Chief Executive Officer and Chief Financial Officer, commented:
"I am pleased at our revenue progress despite the banking setback. Shareholders should know we have added a first-rate interim Chief Technology Officer, Nick Saponaro, and will hire our Chief Compliance Officer shortly. As we grow, hiring talent and building out our infrastructure will be paramount to our success."
Earnings Conference Call
AppTech will host a conference call to discuss its second quarter 2026 financial results on Wednesday, July 29, 2026, at 11:00 a.m. Eastern Time
To participate by telephone, please register using the following link. Upon registration, participants will receive a dial-in number and unique access code:
https://register-conf.media-server.com/register/BI33fbbc35e5de4c77817e045e4eb1238b
About AppTech Payments Corp.
AppTech Payments Corp. (OTCQB: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises ("SMEs"), and consumers through its scalable cloud-based platform architecture and infrastructure. The Company's growing suite of payment, banking, and software solutions enables businesses to modernize payment acceptance, money movement, and financial operations. For more information, please visit www.apptechcorp.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the Company's expected growth, future financial performance, SaaS platform deployment, customer onboarding, transaction volumes, banking relationships, recurring revenue opportunities, profitability, and strategic initiatives. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are encouraged to review the risk factors described in the Company's filings with the Securities and Exchange Commission. AppTech undertakes no obligation to update any forward-looking statements except as required by applicable law.
AppTech Payments Corp.
760-707-5959
info@apptechcorp.com
