Miami Beach, Florida, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTCQB: CUEN) ("Cuentas" or the "Company"), a cellular-focused technology company developing and expanding its mobile connectivity and digital services platform, today announced its financial results for the second quarter ended June 30, 2026, and announced it has over 4,000 active mobility customers.
The Company's second-quarter filing reflects continued progress in the transformation of Cuentas toward a mobility-centered operating model, including the development and commercialization of its mobile services platform through its majority-owned World Mobile LLC joint venture.
Building a Scalable Cellular-Mobility Platform
Cuentas holds a 51% membership interest in World Mobile LLC, its joint venture with World Mobile Group, and consolidates World Mobile LLC for financial reporting purposes. The joint venture was established to operate the Company's mobile virtual network operator ("MVNO") business.
Continued Development of Mobile Services
During the second quarter, Cuentas continued to advance its mobile-cellular strategy through its World Mobile relationship and related commercial initiatives.
The Company's agreement with International Communications 015 Ltd., doing business as Hallo 015, began providing initial services in April 2026.
The Company continues its progress to launch Bitcoin Mobile this year.
Cuentas intends to leverage its telecommunications platform to develop targeted mobile offerings and pursue additional customers and distribution opportunities, of which, Bitcoin Mobile, World Mobile and 015 Mobile are the main brands. Management believes the combination of mobile connectivity, strategic network infrastructure and digital services creates opportunities for Cuentas to establish recurring telecommunications revenue as its commercial activities expand.
Improved Cash Utilization Compared With Prior-Year Period
For the six months ended June 30, 2026, Cuentas reported $276,000 of net cash used in operating activities, compared with $966,000 during the comparable period in 2025, representing a reduction of approximately 71% in operating cash usage
The Company also reported $335,000 of net cash provided by financing activities during the first six months of 2026 in its financial statements.
Management believes the reduction in operating cash requirements compared with the prior-year period is an important component of its effort to stabilize the Company while positioning its telecommunications initiatives for growth.
Strengthening the Capital Structure
During the first quarter of 2026, Cuentas completed several transactions involving the conversion of outstanding convertible notes into common stock, including the conversion of a $260,000 convertible note held by World Mobile Group into 1,277,018 shares of Cuentas common stock represents approximately 18.5% of Cuentas equity.
The Company also completed a February 2026 securities transaction generating approximately $300,000 in gross proceeds, involving the issuance of 714,286 shares and a five-year warrant to purchase an additional 714,286 shares.
Management continues to evaluate additional financing opportunities to provide working capital and support the Company's operating plans.
Management Commentary
Shalom Arik Maimon, Chief Executive Officer of Cuentas, stated:
"The second quarter represents another important step in Cuentas' transformation. While our financial statements continue to reflect the challenges associated with rebuilding the Company, our focus is increasingly directed toward operating businesses and platforms capable of generating recurring revenue.
The Company continues progress from the May 5, 2026 press conference when it announced Bitcoin Mobile, which intends to compete head to head with Cash App Mobile. The company believes that Bitcoin Mobile will have better features than CashApp Mobile. https://cash.app/help/us/en-US/90172-get-started-cash-app-mobile
About Cuentas, Inc. (OTCQB: CUEN)
CUENTAS, Inc. is an integrated communications, entertainment, and lifestyle platform company that delivers a mobile-first consumer experience. Through proprietary technology and strategic media alliances, CUENTAS combines mobile telephony, premium entertainment content, and digital lifestyle services into a single, vertically integrated ecosystem. Through its 51% ownership of World Mobile LLC, CUENTAS integrates existing and emerging technologies to deliver reliable and unique mobile services, including voice, text, data, VPN-enabled connectivity, and next-era communications solutions. These services are designed to seamlessly support high-quality media consumption and live interactive entertainment. Through its 51% ownership of World Mobile Media Group LLC, CUENTAS is modernizing the entertainment marketplace by building a leading decentralized media platform that combines licensed and original content, live events, creator-driven programming, and socially impactful content that drives fan engagement and mobile subscribers. It delivers top-tier talent through a proven, high-performance transmission platform and monetizes premium entertainment via pay-per-minute, pay-per-event, and free, ad-supported on-demand programming to maximize reach, engagement, and diversified revenue. CUENTAS' mobile network serves as the exclusive distribution platform for its entertainment offerings, unifying a consumer experience that integrates connectivity, content, and lifestyle services.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws. All statements other than statements of historical fact are forward-looking statements, including statements regarding the Company's plans and expectations relating to its SEC reporting status, any potential listing on a major U.S. exchange or relisting on the Nasdaq Capital Market, business strategy, future operations, and prospects.
Forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied by any forward-looking statement. Important factors that could cause actual results to differ materially include, among others, the Company's ability to continue to meet SEC reporting obligations, to obtain necessary approvals, to fund its operations, and to execute its business strategy, as well as other risks described in the Company's filings with the SEC.
Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact Information:
Investor Relations
Cuentas Inc.
Email: info@cuentas.com
Phone: (305) 537-6832
