# Light AI Narrows Q3 2026 Loss to C$1.54 Million, Sees Financing Need

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/49995
Published: 2026-11-06T09:41:04.000Z
Updated: 2026-11-06T09:41:04.000Z
Section: Business

> Cash and cash equivalents totaled C$6.10 million on Sept. 30, while operating activities used C$1.75 million during the quarter.

Light AI’s third-quarter 2026 loss narrowed to C$1.54 million, but the company expects to need financing within 12 months because its working capital cannot cover ongoing operations and a convertible debenture due in 2028.

The loss compared with C$5.55 million in the same quarter a year earlier. Basic and diluted loss per share was C$0.01, down from C$0.05. Total operating costs were C$1.51 million, versus C$5.62 million a year earlier. Share-based compensation was C$312,477, compared with C$3.39 million.

A C$1.08 million refundable credit for the 2025 tax year was recognized in Q3 2026 as a reduction in research and development expense. Cash and cash equivalents totaled C$6.10 million on Sept. 30. Operating activities used C$1.75 million in cash during the quarter.

Light AI does not expect current working capital to cover both continued operations and repayment of its convertible debenture, which is due June 19, 2028. The company expects to require additional financing within the next 12 months.

Light AI develops software that uses artificial intelligence to assess medical images. On Oct. 2, the company disclosed limitations in the evidence available to substantiate the performance of its QuickScan™ Strep A Dx diagnostic system. CEO John R. Luna said work to address those gaps has affected the product’s development timeline.