VenHub Global Inc 2026年季度报告

VENHUB GLOBAL, INC.TABLE OF CONTENTS Item 1.Financial Statements1Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations2Item 3.Quantitative and Qualitative Disclosures About Market Risk11Item 4.Controls and Procedures11PART II - OTHER INFORMATION13Item 1.Legal Proceedings13Item 1A.Risk Factors13Item 2.Unregistered Sales of Equity Securities and Use of Proceeds13Item 3.Defaults Upon Senior Securities14Item 4.Mine Safety Disclosures14Item 5.Other Information14Item 6.Exhibits14Signatures15i ITEM 1. FINANCIAL STATEMENTS VENHUB GLOBAL INC. INDEX VENHUB GLOBAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE 1.ORGANIZATION AND LINE OF BUSINESS VenHub, Global Inc. (which may be referred to as the “Company”, “we,” “us,” or “our” doing business as Venhub) wasregistered in Wyoming on January 31, 2023, as Autonomous Solutions Inc. On August 15, 2024, the Company redomiciledfrom Wyoming to Delaware and also renamed the Company to VenHub Global, Inc. (“VenHub”). On October 3, 2025, the The Company is a business-to-business operation that provides an innovative approach to the retail industry, specifically inthe convenience store sector. VenHub is a fully autonomous and robotic-operated store that utilizes advanced technologies such as artificial intelligence(AI) and smart inventory management systems to offer a seamless shopping experience for customers. On September 16, 2024, the Company created three wholly owned subsidiary limited liability companies: VenHub, LLC to manage manufacturing, assembly and installation of units. VenHub, Services LLC to provide software-as-a-service (SaaS) and ongoing maintenance services. VenHub IP, LLC to hold and manage the Company’s intellectual property. VenHub Stores, LLC was incorporated in Nevada on June4, 2025, as the fourth subsidiary and is designed to focus onownership of Company-owned stores. On January 30, 2026, the Company commenced trading under the ticker symbol “VHUB” on the NASDAQ Global Market. 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principlesgenerally accepted in the United States of America (“U.S. GAAP”). As permitted under those rules, certain footnotes or otherfinancial information that are normally required by U.S. GAAP can be condensed or omitted. These interim financialstatements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion ofmanagement, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair Going Concern As of March 31, 2026, the Company has sold three stores and is operating two Company owned stores which commencedoperations on June 6, 2025, and November 4, 2025 respectively Since its inception, the Company has experienced recurringlosses and, as of March 31, 2026, reported an accumulated deficit of $98,777,720 and negative cash flows from operatingactivities for the three months then ended. A significant portion of the Company’s accumulated deficit relates to non-cashcharges, including share based compensation, interest expense and fair value adjustments associated with its financingactivities. Although these matters raise substantial doubt about the Company’s ability to continue as a going concern, VENHUB GLOBAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE Inventory Inventories are stated at the lower of cost or estimated realizable value. The Company determines the cost of inventory usingthe first-in, first-out, or FIFO, method. The Company capitalizes inventory costs associated with the Company’s productbased on management’s judgment, future commercialization is considered probable, and the future economic benefit is Inventory consists primarily of raw materials, purchased components, subassemblies, robotic units and convenience items forour Company owned stores. Work in process includes partially assembled robotic systems and artificial intelligence hardware Certain amounts reported in the prior year financial statements have been reclassified to conform to the current year’spresentation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates andassumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could materially Significant estimates used in the preparation of the accompanying financial statements include recording of convertible notes,depreciation and amortization based on estimated useful lives of property and equipment and the fair value of shares issued Risks and Uncertainties The Company has a limited operating history. The Company’s business and operations are sensitive to general business andeconomic conditions in the United States. A host of factors beyond the Company’s control could cause flu