zSpace Inc. 2026年季度报告

TABLE OF CONTENTS PartIFinancial Information Item1.Financial Statements 4 Condensed Consolidated Balance Sheets as of March 31, 2026 andDecember31, 2025 (Unaudited)Condensed Consolidated Statements of Operations andComprehensive Loss for the three months ended March 31, 2026and 2025 (Unaudited)Condensed Consolidated Statements of Stockholders' Deficit forthe three months ended March31, 2026 and 2025 (Unaudited)Condensed Consolidated Statements of Cash Flows for thethreemonths ended March31, 2026 and 2025 (Unaudited)Notesto Condensed Consolidated Financial Statements(Unaudited) Item2.Management’s Discussion and Analysis of Financial Conditionand Results of OperationsItem3.Quantitative and Qualitative Disclosures about Market RiskItem4.Controls and ProceduresPartII Other InformationItem1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsExhibitIndexSignatures 43 45 ZSpace,Inc.Quarterly Report on Form10-Q In this Quarterly Report on Form 10-Q, “we,” “our,” “us,” “zSpace,” and “the Company” refer tozSpace, Inc., together with its consolidated subsidiaries, unless the context requires otherwise. Cautionary Noteon Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements that involve risks anduncertainties. Many of the forward-looking statements are located in “Management’s Discussion andAnalysis of Financial Condition and Results of Operations.” Forward-looking statements provide currentexpectations of future events based on certain assumptions and include any statement that does not directlyrelate to any historical or current fact. Forward-looking statements can also be identified by words such as“anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,”“target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate” and Part I. FINANCIAL INFORMATION zSpace, Inc.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE See accompanying notes to condensed consolidated financial statements. zSpace,Inc. See accompanying notes to condensed consolidated financial statements. ZSPACE,INC. Notes to Condensed Consolidated Financial Statements March 31, 2026(Unaudited) 1.DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business zSpace,Inc. (“zSpace” or the “Company”) was incorporated in the state of Delaware in 2006 and isheadquartered in San Jose, California with wholly owned subsidiaries in China and Japan. The Company isthedeveloper of full-service augmented reality/virtual reality(“AR/VR”)solutions built for K-12education and career technical education. zSpace’s primary product is a mixed reality hardware device thatprovides an immersive, collaborative, and interactive learning experience. zSpace generates revenues via Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of theCompany and its wholly owned subsidiaries and have been prepared in accordance with United States The Company has prepared its unaudited condensed consolidated financial statements in accordancewith GAAP in the United States of America (“GAAP”) and the instructions to Form10-Q and Article8 ofRegulation S-X of the Securities and Exchange Commission (the “SEC”). Certain information or notedisclosures normally included in financial statements prepared in accordance with GAAP have beencondensed or omitted pursuant to the rulesand regulations of the SEC for interim financial reporting.Accordingly, they do not include all the information and notes necessary for a complete presentation offinancial position, results of operations, or cash flows. In the opinion of management, the accompanying All intercompany accounts and transactions have been eliminated in consolidation. Liquidity Risk and Going Concern For the three months ended March31, 2026, the Company incurred a net loss of approximately $6.6million. For the three months ended March31, 2025, the Company incurred a net loss of $5.8 million. Forthe threemonths ended March31, 2026 and 2025, the Company incurred negative cash flows fromoperations of $3.0 million and $4.6 million, respectively. The Company had combined cash, cashequivalents and restricted cash balance of $2.9 million and $1.0 million as of March31, 2026 andDecember 31, 2025, respectively. The Company has incurred operating losses and negative cash flowsfrom operations since inception. The Company’s prospects are subject to risks, expenses, and uncertaintiesfrequently encountered by companies in the technology industry. These risks include, but are not limitedto, the uncertainty of successfully developing its products, availability of additional financing, gaining Table of Contents evaluated its financial condition as of the date of issuance and determined