US Nuclear Corp (OTC: UCLE) has filed its Form 10-Q for the first quarter of 2026, reporting a 72% reduction in loss from operations compared to the same period last year, the company announced. The improvement, amounting to a reduction of more than $375,000, comes as the company works to overcome reporting delays that have kept its stock from trading.
In a statement, CFO Michael Hastings explained that the company has been addressing issues that delayed the release of its 2025 annual report until June, which in turn pushed back subsequent quarterly filings. "We lost some key people once we closed the LA operation, which made retrieving certain financial data from the closed operation more difficult, and we also chose to replace some people at Overhoff," Hastings said. The first-quarter close and review process took about four months, far exceeding the 45-day window from the close of the period. The company expects to file its second-quarter report within the next three to four weeks and projects that its stock will resume trading after the release of the third-quarter report, expected on or about the first week in December.
Despite the delays, US Nuclear highlighted several operational achievements that management believes will make 2027 a record year. The company engaged a skilled General Manager/COO in June, who is streamlining logistics, clearing backlogs, and accelerating product and service delivery. The company's backlog has grown to $1.2 million and is expected to finish the year at $2.9 million. Additionally, US Nuclear is interviewing outsourced CPA firms to ensure timely and accurate financial reporting, with onboarding scheduled to occur imminently.
The General Manager is also utilizing four college interns to perform a full marketing and product analysis of the TA/Optron product line, which had been built in Los Angeles. The goal is to re-launch the products in January 2027, with the hope of adding $600,000 in revenues. Furthermore, the company has started discussions with other companies this summer regarding potential joint ventures, a purchase of the company by a larger entity, or a reverse merger as a way to go public.
"We expect 2027 sales and profits to increase 20-30%, and sales to double the current level in 2028, or significantly higher if we complete a transaction in 2027," Hastings added. The company's forward-looking statements are subject to risks and uncertainties, and investors can review the full details in the company's US Nuclear Form 10Q_March 31, 2026 and US Nuclear Form 10K_December 31, 2025.
For investors, the reduced operating loss signals progress in cost management, but the delayed filings and halted trading remain significant concerns. The company's ability to execute on its backlog, re-launch products, and potentially complete a strategic transaction will determine whether it can achieve its ambitious growth targets. The outcome could impact shareholders and the broader nuclear instrumentation market, as US Nuclear's recovery could influence competition and innovation in the sector.
