Revenue remains highly inconsistent, with a 147.6% surge in 2026Q1 failing to offset structural gross margin deficits that reached -42.6% in 2024Q1.
| Sales/Revenue | 737K | 433K | 1.01M | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 100.82% | -57.26% | - | - | - | - | - | - | - |
| Cost of Goods Sold | 2.14M | 2.27M | 3.01M | 158K | 134K | 0 | 0 | 11K | 3K |
| COGS % of Revenue | - | 524.94% | 296.84% | - | - | - | - | - | - |
| Gross Profit | -1.41M | -1.84M | -1.99M | -158K | -134K | 0 | 0 | -11K | -3K |
| Gross Margin % | -190.77% | -424.94% | -196.84% | - | - | - | - | - | - |
| Gross Profit Growth % | - | 7.72% | -1162.03% | -17.91% | - | - | 100% | -266.67% | - |
| Operating Expenses | 13.71M | 13.66M | 22.23M | 29.53M | 30.33M | 19.8M | 11.11M | 8.5M | 3.49M |
| OpEx % of Revenue | - | 3155.43% | 2194.27% | - | - | - | - | - | - |
| Selling, General & Admin | 11.4M | 7.92M | 11.03M | 12.8M | 11.47M | 6.38M | 2.73M | 1.99M | 604K |
| SG&A % of Revenue | - | 1829.79% | 1089.14% | - | - | - | - | - | - |
| Research & Development | 4.18M | 5.74M | 11.2M | 16.73M | 18.99M | 13.43M | 8.37M | 6.51M | 2.89M |
| R&D % of Revenue | - | 1325.64% | 1105.13% | - | - | - | - | - | - |
| Other Operating Expenses | -674K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -15.11M | -15.5M | -24.22M | -29.69M | -30.46M | -19.8M | -11.11M | -8.51M | -3.5M |
| Operating Margin % | -2050.47% | -3580.37% | -2391.12% | - | - | - | - | - | - |
| Operating Income Growth % | - | 36% | 18.42% | 2.53% | -53.83% | -78.29% | -30.49% | -143.48% | - |
| EBITDA | -14.65M | -15.35M | -24.06M | -29.53M | -30.33M | -19.73M | -11.09M | -8.5M | -3.49M |
| EBITDA Margin % | -1987.38% | -3545.96% | -2374.73% | - | - | - | - | - | - |
| EBITDA Growth % | 37.82% | 36.17% | 18.54% | 2.62% | -53.72% | -77.83% | -30.5% | -143.37% | - |
| D&A (Non-Cash Add-back) | 465K | 149K | 166K | 158K | 134K | 74K | 13K | 11K | 3K |
| EBIT | -14.33M | -15.32M | -24.22M | -29.28M | -30.33M | -20.89M | -12.03M | -8.44M | -3.49M |
| Net Interest Income | -3.06M | -2.78M | 495K | 0 | 0 | -861K | -977K | 59 | 0 |
| Interest Income | 85K | 183K | 495K | 0 | 133K | 22K | 27K | 59 | 0 |
| Interest Expense | 3.14M | 2.96M | 0 | 0 | 133K | 883K | 1M | 0 | 0 |
| Other Income/Expense | -3M | -2.78M | 495K | 407K | 133K | -1.97M | -1.92M | 72K | 8K |
| Pretax Income | -18.11M | -18.29M | -23.73M | -29.28M | -30.33M | -21.77M | -13.03M | -8.44M | -3.49M |
| Pretax Margin % | -2457.53% | -4222.86% | -2342.25% | - | - | - | - | - | - |
| Income Tax | 96K | 0 | 0 | 0 | -133K | 809K | 0 | 0 | 0 |
| Effective Tax Rate % | -0.53% | 0% | 0% | 0% | 0.44% | -3.72% | 0% | 0% | 0% |
| Net Income | -18.21M | -18.29M | -23.73M | -29.28M | -30.2M | -22.58M | -14.04M | -8.44M | -3.49M |
| Net Margin % | -2470.56% | -4222.86% | -2342.25% | - | - | - | - | - | - |
| Net Income Growth % | 21.47% | 22.94% | 18.97% | 3.02% | -33.72% | -60.9% | -66.29% | -141.97% | - |
| Net Income (Continuing) | -18.21M | -18.29M | -23.73M | -29.28M | -30.2M | -22.58M | -13.03M | -8.44M | -3.49M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.01 | -0.27 | -0.39 | -0.63 | -0.91 | -0.69 | -0.44 | -0.26 | -0.11 |
| EPS Growth % | -645.79% | 30.77% | 38.1% | 30.77% | -31.88% | -56.82% | -69.23% | -136.36% | - |
| EPS (Basic) | - | -0.27 | -0.39 | -0.63 | -0.91 | -0.69 | -0.44 | -0.26 | -0.11 |
| Diluted Shares Outstanding | 1.63B | 840.72M | 60.23M | 46.2M | 33.03M | 32.77M | 32.12M | 32.12M | 32.12M |
| Basic Shares Outstanding | 1.63B | 840.72M | 60.23M | 46.2M | 33.03M | 32.77M | 32.12M | 32.12M | 32.12M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Imminent liquidity and regulatory failure
According to the provided quarterly income statements, Movano's revenue trajectory remains highly erratic, characterized by a 147.6% surge in 2026Q1 following a 60.4% decline in 2025Q4, suggesting that the company has yet to establish a predictable or sustainable commercial sales cadence for its hardware.
The extreme quarter-over-quarter fluctuations indicate that revenue is currently driven by lumpy, non-recurring events rather than a steady adoption of the Evie Ring. Investors should monitor whether the recent uptick in 2026Q1 represents a genuine inflection in market demand or merely a temporary anomaly in a nascent, unproven product lifecycle.
As reported in financial filings, the company's gross margin profile is deeply negative, with a 2025Q4 margin of -21.5% and a 2024Q1 margin of -42.6%, highlighting a fundamental inability to cover manufacturing costs at current, low-volume production levels for its proprietary radiofrequency hardware.
The persistent negative gross margins suggest that the cost of goods sold is significantly inflated by manufacturing inefficiencies and potentially high inventory write-downs. Without a clear path to scaling production and achieving economies of scale, the current hardware-centric model appears to be structurally incapable of generating positive contribution margins.
Based on the income statement data, Movano exhibits no evidence of operating leverage, as SG&A and R&D expenses consistently dwarf revenue, resulting in an operating margin of -9.5% even during the company's highest revenue quarter in the provided series.
The company's cost structure is heavily weighted toward fixed R&D and administrative overhead, which remain decoupled from the minimal revenue generated. This suggests that the business is currently operating as a research-heavy entity rather than a commercial enterprise, with little indication that incremental revenue is effectively scaling to cover the massive operating base.
Analysis of the reported figures reveals that net income is consistently negative, with quarterly losses frequently exceeding $5 million, a trend exacerbated by significant stock-based compensation that reached $2.2 million in 2026Q1, further diluting the value of existing equity for shareholders.
The reliance on stock-based compensation to manage cash burn suggests that the company is prioritizing liquidity preservation over earnings quality. Investors should be wary of the disconnect between the reported net losses and the underlying cash consumption, which appears to be the primary driver of the company's ongoing financial instability.
As indicated by the company's financial history, the transition from an R&D-focused entity to a commercial hardware provider has failed to yield positive margins, raising significant concerns regarding the viability of the current business model in the absence of a recurring software revenue stream.
Short-term revenue spikes may distract from the underlying reality that the company is burning through its limited cash reserves to subsidize hardware sales. The lack of a clear, profitable path forward suggests that the current valuation may be disconnected from the fundamental risks associated with the company's inability to achieve clinical-grade regulatory milestones.
Quick answers to the most common questions about buying MOVE stock.
For fiscal year 2025, Corvex, Inc. (MOVE) reported total revenue of $0.4M.
Corvex, Inc. (MOVE) reported a net loss of $18.3M for the fiscal year ending 2025.
Corvex, Inc. (MOVE) reported an operating income of $-15.5M, resulting in an operating profit margin of -3580.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Corvex, Inc. (MOVE) generated $-1.8M in gross profit for the year, representing a gross profit margin of -424.9%. This demonstrates the company's core pricing power and production efficiency.