CENTENNIAL, Colo., May 18, 2026 (GLOBE NEWSWIRE) -- OTCMarkets: FOFA OTC Markets: FOFA OTCMarkets: FOFA, Family Office of America, Inc. ("FOFA," "Family Office of America," or the "Company") today announced financial results for the quarter ended March 31, 2026.
First Quarter 2026 Financial Highlights
Net revenue totaled $783,126 for the three months ended March 31, 2026, compared to no revenue in the prior year period.
Gross profit totaled $783,126.
Income from operations was $274,872, compared to an operating loss of $(103,321) in the prior year period.
Net income totaled $263,789, or $0.01 basic and diluted earnings per share, compared to a net loss of $(103,321), or $(0.00) per share, in the prior year period.
EBITDA (a non-GAAP financial measure) totaled approximately $332,649 for the first quarter of 2026.
Adjusted EBITDA (a non-GAAP financial measure), excluding stock-based compensation and warrant expense, totaled approximately $360,462.
Cash and cash equivalents increased to $343,220 as of March 31, 2026, compared to $155,798 as of December 31, 2025.
Stockholders' equity increased to $966,111 as of March 31, 2026, compared to $664,509 at year-end 2025.
Management Commentary
Patrick Adams, Chief Executive Officer of Family Office of America, stated:
"We are very pleased to have achieved profitability within our second quarter of operations and believe the Company is well-positioned to generate profitability on an annual basis going forward. This is quite impressive for such a young growth company. During the first quarter of 2026, we continued executing on our strategy to build a national family office and accounting services platform through both organic growth and strategic acquisitions. The successful integration of the Toone and Benson acquisitions contributed to meaningful revenue growth and profitability during the quarter."
Adams continued, "We remained focused on expanding our recurring revenue base, strengthening our client relationships and identifying additional acquisitions. We believe the market opportunity for integrated family office, accounting, tax preparation, bookkeeping, and advisory services remains significant, particularly among small and mid-sized businesses and high-net-worth clients seeking personalized service.
"We are encouraged by our first quarter financial performance, including positive operating cash flow and profitability, and we believe we are building a scalable operating platform capable of supporting continued expansion."
Rico Conte, Director of Acquisitions added, "Our focus remains on identifying and executing on additional acquisition opportunities that align with our long-term growth objectives. We currently have a robust pipeline of opportunities and are in ongoing communications across several of them, and we expect to execute on a significant ...
