Company: OPGN
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001829126-25-009312
Chunk: 36

Company: OPGEN INC
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 of compensation expenses following the Company’s settlement of deferred and accrued compensation and severance expenses with the Company’s former CEO, David E. Lazar, and the change in fair value of our EIB loan guaranty.

25

Results of operations for the nine months ended September 30, 2025 and 2024

Revenues

    Nine Months Ended September 30,

    2025

    2024

    Product sales
     
    $
    -

    $
    169,373

    Laboratory services

    -

    26,776

    Listing sponsorship services

    4,000,000

    -

    Total revenue
     
    $
    4,000,000

    $
    196,149

We recognized revenue in the nine months ended September 30, 2025 solely related to our single contract to provide listing sponsorship and consulting services, as CapForce completed the second performance obligation within the Engagement Agreement, earning proceeds of $4.0 million in the Client’s equity. We did not generate any product sales or laboratory services revenue in the nine months ended September 30, 2025, due to the winding down of our legacy precision medicine business and repositioning ourselves in the financial services and technology industry.

Operating expenses

    Nine Months Ended September 30,

    2025

    2024

    Cost of products sold
     
    $
    -

    $
    31,636

    Cost of services

    -

    1,575

    Research and development

    -

    49,308

    General and administrative

    1,810,097

    4,021,321

    Sales and marketing

    12,159

    168,819

    Total operating expenses
     
    $
    1,822,256

    $
    4,272,659

Our total operating expenses for the nine months ended September 30, 2025 decreased approximately 57% when compared to the same period in 2024. Operating expenses changed as follows:

    ·
    Cost of products sold and cost of services: cost of products sold and cost of services for the nine months ended September 30, 2025 decreased 100% when compared to the same period in 2024. The decrease in cost of products sold and cost of services aligns with the decrease in product sales and laboratory services during the nine months ended September 30, 2025