--- title: "Lifeloc reports first quarter 2026 results" url: "https://aibio.space/news/lifeloc-reports-first-quarter-2026-results-spindetect-milestone/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-15" section: "Company Updates" tickers: "OTC:LCTC" source: "https://www.sec.gov/Archives/edgar/data/1493137/000107997326000693/ex99x1.htm" summary: "Net revenue rose 1% to $2.294 million and the quarterly net loss narrowed. The company said production tooling for its SpinDetect drug analyzer is complete" --- By the aibio.space news desk. Sources - [Lifeloc Technologies, Inc 8-K (2026-05-19)](https://www.sec.gov/Archives/edgar/data/1493137/000107997326000693/ex99x1.htm) - [Lifeloc Technologies, Inc financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1493137/000107997326000376/) [LCTC](https://aibio.space/companies/lifeloc-technologies/) 2026-05-15 # Lifeloc reports first quarter 2026 results and SpinDetect milestone Tickers [LCTC](https://aibio.space/companies/lifeloc-technologies/) Net revenue rose 1% to $2.294 million and the quarterly net loss narrowed. The company said production tooling for its SpinDetect drug analyzer is complete and first article disks have been delivered. ## Key facts - **Company**: Lifeloc Technologies, Inc (OTC: LCTC) - **News type**: Company Updates - **Primary source**: [Lifeloc Technologies, Inc 8-K (2026-05-19)](https://www.sec.gov/Archives/edgar/data/1493137/000107997326000693/ex99x1.htm) *Laboratory equipment and glassware. Photo: Belikov Maxim, CC BY 4.0, via Wikimedia Commons. The picture shows the field, not the companies named.* Lifeloc Technologies, Inc. (OTC: [LCTC](https://aibio.space/companies/lifeloc-technologies/)) reported net revenue of $2.294 million for the first quarter ended March 31, 2026, up from $2.277 million in the first quarter of 2025. The company also said it completed the production mold for its SpinDetect centrifugal drug analyzer, which it called the last enabling step before beta testing can begin. The results were announced in a release dated May 15, 2026, and filed with the SEC on Form 8-K. ## The quarter The quarterly net loss narrowed to $(153) thousand, or $(0.06) per diluted share, from $(293) thousand, or $(0.11) per diluted share, a year earlier. Revenue increased by $17 thousand, or 1%. Gross margin improved to 43% from 40%, which the company attributed mainly to higher pricing and a more favorable product mix. Research and development spending declined from a year earlier but remains above 18% of revenue, mostly for SpinDetect development. The company said lower development spending and better margins together produced the smaller loss. The company also described its breath alcohol line. The L-series LX9 and LT7 units offer smart phone pairing and wider temperature ranges. Its Easycal automated calibration station, which the company says is the only automated calibration available for portable breath alcohol testers, has helped it gain market share. ## The SpinDetect milestone SpinDetect is designed for rapid, on-site, quantitative drug testing at roadsides, in emergency rooms, forensic labs and workplace testing sites. The company said the platform has detected delta-9-THC, cocaine, fentanyl, amphetamine and methamphetamine, morphine, MDMA and benzodiazepines in oral fluid. It validated those results against liquid chromatography-mass spectrometry using human saliva samples, with a limit of detection of approximately 10 ng/ml. Lifeloc completed fabrication of the production mold in the quarter. First article moldings were delivered in April, and those disks are being evaluated for performance and any necessary adjustment. Reader hardware, firmware, drug assays and reagent handling are described as substantially complete. The remaining work includes collection device completion, full validation and manufacturing setup. The company says it does not anticipate further technical breakthroughs will be required, which is its own view of a product that has not completed validation or beta testing. The release reports no sales, orders or regulatory path for it. The first product is planned to detect delta-9-THC from oral fluid, followed by a multi-drug panel disk. Later releases are planned for more drug panels, blood and breath samples, and non-drug uses such as food pathogen detection. ## Financing and financial position In May 2026, Lifeloc closed $500,000 of financing through a loan from its Chairman of the Board and CFO. The release gives the terms as 10.5% interest, adjustable upward based on the prime rate, interest-only payments in 2026, monthly payments after that which fully repay the loan in 5 years, and no prepayment penalty. Cash and cash equivalents were $569,330 at March 31, 2026, compared with $746,001 at December 31, 2025. Cash fell in the quarter while inventories rose to $2,794,329 and accounts payable increased to $615,378 from $301,627. The $500,000 loan came from a company insider, and the quarter's revenue growth was 1%. The company's annual figures, reported in its 10-K filed in March 2026, show revenue of $9.0 million for 2025, compared with $8.5 million for 2024. Research and development expense was $2.2 million in both years. The net loss was $2.5 million for 2025, compared with $1.1 million for 2024. Cash from operations was negative $499,319 in 2025, compared with negative $1.3 million in 2024. ## What comes next Lifeloc said the completed tooling is the last enabling step before beta testing can start. The release does not give a date for beta testing, and it does not state a cash runway figure. The company said it has managed R&D spending to align with cash generated by its core business. Dr. Wayne Willkomm, President and CEO, said getting disks from the production mold "marks a key milestone in the development of the SpinDetect™ analyzer." He added that oral fluid screening will be the first application, with blood, urine and sweat applications to follow where market demand supports them. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LCTC Lifeloc Technologies, Inc OTC · United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/lifeloc-reports-first-quarter-2026-results-spindetect-milestone/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lifeloc reports first quarter 2026 results", 2026-05-15, https://aibio.space/news/lifeloc-reports-first-quarter-2026-results-spindetect-milestone/