NUBURU, Inc. reported a significant turnaround in its financial position for the period ending March 31, 2026, driven by the consolidation of revenue-generating operating businesses into its Defense & Security platform. The company disclosed total assets of approximately $76.1 million and positive stockholders’ equity of approximately $2.2 million, a substantial increase from the approximately $1.3 million in total assets reported at March 31, 2025. The asset base reflects the integration of subsidiaries Lyocon and Orbit, which contribute to the company's photonics, laser, and software capabilities.

Financial Performance

The company recorded approximately $407,644 in first-quarter revenue for the period ending March 31, 2026. This marks a shift from the prior year when NUBURU reported no quarterly revenue and approximately $0.15 million of revenue for the full year 2024. The growth in assets and revenue is attributed to the operational consolidation of Lyocon, a photonics and laser factory, and Orbit, a software layer providing command, validation, and operational resilience.

Commercial Pipeline and Strategic Developments

NUBURU outlined a combined commercial pipeline exceeding approximately $6 million across its software and directed-energy verticals as of April 2026. This includes approximately $2.5 million at Lyocon and approximately $3.9 million at Orbit. In June 2026, Orbit secured approximately $240,000 in cumulative customer orders from a Tier-One national telecommunications infrastructure operator, with additional commercial-offer visibility of approximately $825,000. Lyocon is currently evaluating approximately $2.39 million in quotations, including an approximately $2.2 million rover quotation.

NYSE Compliance and Future Milestones

Regarding its listing status, NUBURU disclosed on June 29, 2026, that preliminary unaudited data as of May 31, 2026, indicates stockholders’ equity is expected to materially exceed the $4.0 million threshold required under NYSE American’s continued-listing standards for companies with a history of losses. The company is also pursuing the acquisition of Tekne, having filed the Golden Power notification in June 2026 with a review expected to conclude in the first week of August 2026. This acquisition is intended to add Italian industrial scale and special vehicle capabilities to the platform.

NUBURU, Inc. expects its stockholders' equity to materially exceed the $4.0 million requirement for continued listing on NYSE American, based on preliminary unaudited accounting data as of May 31, 2026. The company believes this reflects the impact of its strategy to use equity and equity-linked capital to reduce debt, lower preferred-share obligations, and strengthen common equity. This development is critical for NUBURU to maintain its listing status, particularly given its history of losses.

Alessandro Zamboni, Executive Chairman and Co-Chief Executive Officer of NUBURU, stated that while share count is a focus for investors, dilution can be positive when used to reduce liabilities and fund transformative assets. He highlighted investments in Lyocon, Orbit, SunCubes, and Tekne as part of the company's software-defined dual-use Defense & Security platform. Zamboni emphasized that the priority is converting capital-structure work into measurable outcomes under the transformation plan.

NYSE American Compliance Status

On May 12, 2026, NUBURU received a notice from NYSE American stating it was not in compliance with Section 1003(a)(ii) of the NYSE American Company Guide due to falling below the equity threshold. The exchange did not require a new compliance plan, and NUBURU continues to operate under its existing plan through October 29, 2026. Although the preliminary review suggests compliance, NUBURU has not yet received official notice from NYSE American. The company's securities remain subject to the '.BC' designation until the exchange completes its review of final financial information.

Preliminary Financial Assessment

The following table outlines the key compliance metrics based on the preliminary assessment:

The preliminary assessment was prepared by the company's accounting team on a combined consolidated basis. Consolidation adjustments, valuation work, and reviews by management, the Audit Committee, and an independent auditor are still pending. The company cautioned that this release does not include all disclosures required by U.S. GAAP and should not be considered a substitute for complete financial statements. Final results may differ materially from the preliminary assessment.