FiEE, Inc. Announces First Quarter 2026 Unaudited Financial Results

First Quarter Revenue Reached $2.1 million

Gross Margin of 70.4% Supported Profit Turnaround in First Quarter 2026

OSAKA, Japan, April 30, 2026 /PRNewswire/ -- FiEE, Inc. (NASDAQ: FIEE) ("FiEE" or the "Company"), a technology company integrating IoT, connectivity and AI to redefine brand management solutions in the digital era, today announced its financial results for the first quarter ended March 31, 2026.

Operational and Financial Highlights for the Three Months Ended March 31, 2026

Rafael Li, Chief Executive Officer of FiEE, commented, "We are delighted to announce a substantial improvement in profitability for the first quarter of 2026. This highlights the strong momentum of our expanding SaaS solutions, as well as the growing contributions of our customized software and digital authentication services. In March 2026, through our strategic entry into AI-powered music creation, distribution, and entertainment, we further demonstrated our commitment to innovation and expansion, opening new pathways to integrate advanced technologies into our digital ecosystem. In line with our long-term strategy, we are actively assessing opportunities in AI, hardware, and the Internet of Things (IoT), while also exploring opportunities in the MCN business."

Mr. Li further mentioned, "Looking ahead, we will continue to drive growth through innovation. By investing in R&D, we aim to broaden our service portfolio, deepen user engagement, and strengthen our brand's resilience in the digital content industry. At the same time, we are focused on building bridges between influencers, content creators, and global markets, fostering impactful partnerships and extending our reach across this rapidly evolving digital landscape."

Financial Results for the First Quarter Ended March 31, 2026

Revenue was approximately $2.1 million, compared to $125 in the same period of fiscal year 2025.

Revenues

Three Months Ended March 31,

2026

2025

change

YoY

Product sales

• SaaS – MCN digital services

1,093,336

125

874,568.8 %

• Software services

589,959

N/A

• Digital authentication services

438,694

N/A

Total

2,121,989

125

1,697,491.2 %

Gross profit was approximately $1.5 million, compared to a gross loss of $625 in the same period of 2025.

Gross margin was 70.4%, representing a significant increase compared to the same period in 2025.

Operating expenses were approximately $1.1 million, representing an increase of 188.2% from $0.4 million in the same period of 2025.

Operating income was approximately $0.4 million, as compared to a loss of $0.4 million in the prior year.

Net income was approximately $0.4 million, representing a turnaround from a loss of $0.4 million in the prior year.

Diluted earnings per common share was $0.02, as compared to a loss of $0.10 in the prior year.

As of March 31, 2026, total cash and cash equivalents was $4.6 million, as compared to $3.1 million as of December 31, 2025.

About FiEE, Inc.

FiEE, Inc. (NASDAQ: FIEE), formerly Minim, Inc., was founded in 1977. It has a historical track record of delivering comprehensive WiFi/Software as a Service platform in the market. After years of development, it made the strategic decision to transition to a Software First Model in 2024 to expand its technology portfolio and revenue streams. In 2025, FiEE, Inc. rebranded itself as a technology company leveraging its expertise in IoT, connectivity, and AI to explore new business prospects and extend its global footprint.

FiEE, Inc.'s services are structured into four key categories: Cloud-Managed Connectivity (WiFi) Platform, IoT Hardware Sales & Licensing, SAAS Solutions, and Professional To-C and To-B Services & Support. Notably, FiEE, Inc. has introduced its innovative Software-as-a-Service solutions, which integrate its AI and data analytics capabilities into content creation and brand management. This initiative has nurtured a robust pool of KOLs on major social media platforms worldwide, helping them develop, manage, and optimize their digital presence. FiEE, Inc.'s services include customized graphics and posts, short videos, and editorial calendars tailored to align with brand objectives.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral or otherwise made, represent the Company's expectation or belief concerning future events. Without limiting the foregoing, the words "believes," "expects," "may," "might," "will," "should," "seeks," "intends," "plans," "strives," "goal," "estimates," "forecasts," "projects" or "anticipates" or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements included in this press release may include, among others, statements relating to (i) the future financial position and performance of the Company, (ii) our ability to successfully implement our strategic business transformation, (iii) our long-term growth objectives and opportunities, (iv) our commitment to investing in R&D to expand our service offerings, enhance customer experience, and deliver greater brand value across the digital content landscape, (v) our plans to drive growth through innovation, build bridges between influencers, content creators, and global markets, and foster impactful partnerships to extend our reach across the digital landscape, and (vi) our plans to further accelerate business growth and create value for our stockholders.

By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement. In addition, there may be other factors of which we are presently unaware or that we currently deem immaterial that could cause our actual results to be materially different from the results referenced in the forward-looking statements. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. Although we believe that our plans, intentions and expectations are reasonable, we may not achieve our plans, intentions or expectations. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. See "Risk Factors" and "Special Note Regarding Forward-Looking Statements" included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent annual report on Form 10-K and other risk factors described from time to time in subsequent quarterly reports on Form 10-Q or other subsequent filings. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

For investor and media inquiries, please contact:

Email: [email protected]

(financial tables follow)

FIEE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31,

(unaudited)

2026

2025

ASSETS

Current assets

Cash

4,579,910

3,084,461

Accounts receivable

1,422,013

2,110,715

Other receivables, net

18,051

1,217,692

Prepaid expenses and other current assets

218,882

199,309

Total current assets

6,238,856

6,612,177

Property, equipment and software, net

900,020

366,439

Intangible assets

3,205,982

3,529,835

Operating lease right-of-use assets, net

15,575

31,004

Deferred tax assets

26,731

Other assets

1,452,799

231,680

Total assets

11,839,963

10,771,135

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities

Accounts payable

263,970

511,206

Contract liabilities

668,903

1,497,721

Accrued expenses and other current liabilities

1,138,505

1,169,737

Income tax payables

856,870

972,743

Current maturities of operating lease liabilities

14,953

30,350

Total current liabilities

2,943,201

4,181,757

Total liabilities

2,943,201

4,181,757

Stockholders' equity

Preferred stock

1,639,779

Common stock

83,286

79,341

Additional paid-in capital

102,488,505

100,500,280

Accumulated deficit

(95,270,063)

(95,621,579)

Accumulated other comprehensive income

(44,745)

(8,443)

Total stockholders' equity

8,896,762

6,589,378

Total liabilities and stockholders' equity

11,839,963

10,771,135

FIEE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF

OPERATIONS (UNAUDITED)

As of March 31,

(unaudited)

2026

2025

Revenues

2,121,989

125

Cost of revenues

627,745

750

Gross profit

1,494,244

(625)

Operating expenses:

Selling and marketing

34,339

General and administrative

996,873

340,496

Research and development

36,587

30,000

Total operating expenses

1,067,799

370,496

Operating income (loss)

426,445

(371,121)

Other income (expense):

Interest income (expense), net

(2,789)

Foreign currency exchange income

34,995

Other, net

26,905

Total other income(expense)

61,900

(2,789)

Income (loss) before income taxes

488,345

(373,910)

Income tax expense

136,829

Net income (loss)

351,516

(373,910)

Allocation to participating preferred stock

(101,605)

Net income (loss) attributable to common stockholders

249,911

(373,910)

Basic earnings (loss) per common share

0.03

(0.10)

Diluted earnings (loss) per common share

0.02

(0.10)

Weighted-average number of common shares outstanding:

Basic

7,938,505

3,713,792

Diluted

10,440,594

3,713,792

Net income (loss)

351,516

(373,910)

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

(36,302)

Total comprehensive income (loss)

315,214

(373,910)

SOURCE FiEE, Inc.