GLG Life Tech Corporation (OTC: GLGL) reported its first quarter 2026 financial results on May 22, 2026. The company posted revenue of $2.1 million, a 12% decrease compared to $2.4 million in the same period last year. The net loss for the quarter was $0.8 million, compared to a net loss of $0.6 million in Q1 2025.
The decline in revenue was attributed to lower sales volumes in the stevia extract segment, partially offset by higher average selling prices. Gross margin improved to 38% from 35% in the prior year quarter, driven by cost reduction initiatives.
Operating expenses decreased 5% to $1.5 million, primarily due to lower administrative costs. The company ended the quarter with cash and cash equivalents of $0.5 million, down from $0.7 million at December 31, 2025.
Management noted ongoing efforts to expand into new markets and improve operational efficiency. The company did not provide forward guidance for the remainder of 2026.
