Sonoma Pharmaceuticals reported QQ1 2026 revenue of $4.02 million, up 16.8% year-over-year and 12.7% quarter-over-quarter, driven by its stabilized HOCl products portfolio. Gross profit was $1.464 million, yielding a gross margin of 36.5%, a positive indicator of product mix stability amid a modest revenue base. Despite the top-line growth, the company posted an EBITDA loss of $1.095 million and a net loss of $1.241 million, translating to an EPS of -$0.76. The operating backdrop remains margin-compressed as the company continues to invest in R&D and SG&A to scale its HOCl platform and commercial footprint, with a reported weighted-average shares outstanding of 1.641 million. Cash flow from operations was negative at $2.015 million for the quarter, contributing to a net decrease in cash of $1.769 million; however, the company ended the period with $3.606 million in cash and cash equivalents and a net cash position of approximately $2.93 million (cash plus equivalents minus debt). Accumulated deficits persist, but accumulated other comprehensive income remains modestly positive, highlighting a fragile but advancing balance-sheet trajectory. Management commentary on the call, if available, would be critical to validate execution milestones around product launches, field sales effectiveness, and any near-term financing actions. Overall, the QQ1 2026 results reflect a growth-leaning but cash-burned environment typical of early-stage specialty pharma businesses; investors should monitor top-line traction, gross-margin progression, cost discipline, and liquidity runway going forward.