UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from________ to ___________

Commission File Number: 001-43087

Our Bond Inc.

(Exact name of registrant as specified in its charter)

Nevada

83-1751618

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

85 Broad Street, 17^TH Floor, New York, NY 10004

(Address of principal executive offices) (Zip Code)

1-888-567-6234

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock par value $0.0001		OBAI		Nasdaq Global Market

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Â§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of August 14, 2026, the number of shares outstanding of the issuer’s common stock was 29,975,526.

OUR BOND INC.

INDEX TO FORM 10-Q

		Page

PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements	1

	Condensed Consolidated Balance Sheets as of June 30, 2026 (Unaudited) and December 31, 2025	1

	Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited)	2

	Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited)	3

	Condensed Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited)	4

	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 (Unaudited)	5

	Notes to the Unaudited Condensed Consolidated Financial Statements	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	20

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29

Item 4.	Controls and Procedures	30

PART II - OTHER INFORMATION		30

Item 1.	Legal Proceedings	30

Item 1A.	Risk Factors	30

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	31

Item 3.	Defaults Upon Senior Securities	31

Item 4.	Mine Safety Disclosures	31

Item 5.	Other Information	31

Item 6.	Exhibits	31

Signatures		32

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

OUR BOND INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands, except per share and share amounts)

(Unaudited)

	June 30,			December 31,
	2026			2025
ASSETS
Current assets:
Cash and cash equivalents	$	5,190		$	599
Accounts receivable		1,644			1,592
Prepaid expenses and other current assets		430			224
Total current assets		7,264			2,415
Property and equipment, net		93			86
Total assets	$	7,357		$	2,501

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	2,593		$	2,588
Deferred revenue, current		636			562
Related party loan		-			765
Current portion of long-term debt		2,343			1,555
Accrued and other current liabilities		2,715			2,648
Total current liabilities		8,287			8,118
Long-term debt, net of current portion		5,323			5,657
Total liabilities		13,610			13,775

Commitments and contingencies (Note 11)		-

Mezzanine Equity
Convertible Preferred Stock, $0.0001 par value; 1,246,063 shares and 1,561,892 shares authorized, at June 30, 2026 and December 31, 2025, respectively, 821,796 and 1,237,717 shares issued and outstanding as of June 30, 2025 and December 31, 2025, respectively		7,153			11,389
Stockholders’ deficit
Series preferred stock, $0.0001 par value; 148,438,108 shares and 148,438,108 shares authorized, at June 30, 2026 and December 31, 2025, respectively, 14,651,864 and 17,494,820 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively		2			2
Common stock, $0.0001 par value; 250,000,000 and 250,000,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 29,973,178 and 13,896,400 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively		3			1
Additional paid in capital		137,679			116,556
Accumulated other comprehensive income		(111	)		(70	)
Accumulated deficit		(150,979	)		(139,152	)
Total stockholders’ deficit		(13,406	)		(22,663	)
Total liabilities, redeemable convertible preferred stock, and stockholders’ deficit	$	7,357		$	2,501

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

OUR BOND INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except per share and share amounts)

(Unaudited)

	2026			2025			2026			2025
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2026			2025			2026			2025
Revenue	$	2,121		$	2,275		$	4,469		$	4,524
Cost of revenues		2,255			1,940			4,555			4,116
Gross profit		(134	)		335			(86	)		408
Operating expenses:
Research and development		728			664			1,419			1,219
General and administrative		2,316			1,569			4,759			2,596
Sales and marketing		749			839			4,041			1,115
Total operating expenses:		3,793			3,072			10,219			4,930
Loss from operations		(3,927	)		(2,737	)		(10,305	)		(4,522	)
Other income (expense), net:
Financial expense, net		(827	)		(369	)		(1,119	)		(746	)
Other income		-			71						71
Income before income taxes		(4,754	)		(3,035	)		(11,424	)		(5,197	)
Income tax expense		18			-			49			-
Net loss	$	(4,772	)	$	(3,035	)	$	(11,473	)		(5,197	)

Net loss per share – basic and diluted	$	(0.20	)	$	(1.02	)	$	(0.57	)		(1.75	)

Weighted average number of common shares outstanding – basic and diluted		24,659			2,988			20,845			2,976

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

OUR BOND INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(U.S. dollars in thousands)

(Unaudited)

	2026			2025			2026			2025
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2026			2025			2026			2025

Net loss	$	(4,772	)	$	(3,035	)	$	(11,473	)	$	(5,197	)
Foreign currency translation adjustments, net of tax		(14	)		(43	)		(39	)		(57	)
Comprehensive loss	$	(4,786	)	$	(3,078	)	$	(11,512	)	$	(5,254	)

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

OUR BOND INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(U.S. dollars in thousands, except share amounts)

(Unaudited)

(U.S. dollars in thousands)	Shares		Amount		Shares		Amount			Capital			Income (Loss)			Deficit			Deficit			Shares		Amount
	Stockholders’ Deficit																					Mezzanine Equity
	Series Preferred Stock				Common Stock Voting					Additional Paid-in			Accumulated Other Comprehensive			Accumulated			Total Stockholders’			Series Preferred Stock
(U.S. dollars in thousands)	Shares		Amount		Shares		Amount			Capital			Income (Loss)			Deficit			Deficit			Shares		Amount
Balance as of January 1, 2026		17,494,820	$	2		13,896,400	$	1		$	116,556		$	(70	)	$	(139,152	)	$	(22,663	)		1,237,717	$	11,389
Stock based compensation related to options granted to employees and non-employees		—		—		—		—			203			—			—			203			—		—
Exercise of options and vesting of early exercise		—		—		96		*—	^*		—			—			—			*—	^*		—		—
Issuance of common shares for service		—		—		161,963		*—	^*		2,035			—			—			2,035			—		—
Issuance of common shares related to direct listing		—		—		418,219		*—	^*		*—	^*		—			—			*—	^*		—		—
Exercise of Common Warrants to Common Stock		—		—		4,479		*—	^*		20			—			—			20			—		—
Issuance of Series D convertible preferred stock- net of issuance costs		—		—		—		—			—			—			—			—			324,175		2,679
Conversion of Series E Preferred Stock into Common Stock		—		—		1,477,857		1			6,828			—			—			6,829			(