Companies

Micro-Cap Earnings Roundup for Week of Oct. 12, 2026

The Tip Desk · October 18, 2026 · 4 min read

Ames National’s third-quarter net income rose to $7.0 million, Enovix reported preliminary quarterly revenue of $11.0 million, and Better’s preliminary total net revenues missed its earlier guidance.

Higher bank earnings and preliminary technology revenue growth featured in the week’s updates, alongside important qualifications. Ames National’s third-quarter net income increased from a year earlier, while MaxCyte reported preliminary core-business revenue growth. But Northrim’s higher net interest income accompanied lower net income, and MaxCyte attributed part of its outperformance to purchases arriving earlier than expected.

Ames National earned $7.0 million in the third quarter of 2026, compared with $4.6 million a year earlier. Net interest income rose 20.7% to $17.0 million, and its tax-equivalent net interest margin increased to 3.38% from 2.83%. Ames attributed the improvement in net interest income to higher investment yields and average balances, alongside lower funding costs. Westamerica’s net income increased sequentially to $28.2 million from $27.4 million. Westamerica’s CEO said investing excess cash from stable deposit balances in higher-earning securities helped lift its annualized net interest margin four basis points to 3.81%.

Funding costs and credit provisions supplied exceptions. Equity Bancshares reported third-quarter net income of $26.8 million, but net interest income declined $1.0 million sequentially to $72.8 million. Equity said rising deposit costs helped interest-expense growth outpace interest-income growth. Northrim’s third-quarter net income fell to $14.4 million from $27.1 million a year earlier, despite a 10% increase in net interest income to $38.9 million. Northrim attributed most of the earnings decline to higher credit-loss provisions and a prior-year asset-sale gain; its CEO tied the higher provision to one Specialty Finance relationship.

MaxCyte and Enovix report preliminary revenue growth

MaxCyte’s preliminary core-business revenue for the quarter ended September 30 was approximately $8.1 million, up 26% year over year. The company raised its full-year 2026 revenue forecast to approximately $34 million from $30 million to $32 million. CEO Maher Masoud said third-quarter outperformance was driven by accelerated instrument purchases from a large customer that MaxCyte had originally anticipated in the fourth quarter. That timing qualification accompanied the higher annual forecast.

Enovix reported preliminary third-quarter revenue of $11.0 million, up 38% from a year earlier and above its $9 million to $10 million guidance. Drone and defense customers accounted for approximately 70% of quarterly revenue. Enovix attributed the quarter’s performance to growth in its drone and defense pipeline, customer sample validation and progress expanding defense manufacturing capacity. The company said it was investing $19 million to double capacity at its Korean plant.

ChronoScale’s growth came with a continuing-operations loss. For its fiscal first quarter ended August 31, 2026, revenue increased 148% to $41.5 million from $16.7 million in the prior-year comparable period. Its continuing operations recorded a $26.4 million net loss and positive adjusted EBITDA, a non-GAAP measure, of $5.9 million. These results excluded the legacy Ekso business, which was classified as discontinued operations and sold after quarter-end.

FMC and Better lower earlier expectations

FMC said it now expected third-quarter 2026 revenue of $65 million to $125 million and adjusted EBITDA of negative $565 million to negative $510 million. FMC said those estimates included a $625 million to $675 million impact on revenue and adjusted EBITDA from commercial actions involving channel pricing and its U.S. selling model. Its CEO attributed weaker-than-expected demand partly to elevated inventories of higher-priced FMC products at channel customers. FMC said the actions were intended to support product movement and future replenishment demand.

Better’s preliminary third-quarter total net revenues rose 8.6% year over year to $45.1 million, but missed its earlier $49 million to $52 million guidance. Better attributed the shortfall to interest-rate headwinds and disruption associated with its proxy solicitation. Preliminary adjusted EBITDA loss was $24.8 million to $25.8 million, versus guidance for a $15 million to $18 million loss, including approximately $8 million of proxy-related expenses. Loan volume provided an exception: at $1.395 billion, it remained within the company’s earlier guidance range.

NioCorp and Infinity report noncash valuation effects

NioCorp reported preliminary net income attributable to the company of $3.7 million for the three months ended September 30, compared with a $42.7 million loss a year earlier. NioCorp said the profit primarily reflected approximately $8.5 million of noncash gains on liability-classified earnout shares and warrants following a decline in its share price. Operating cash outflows were $6.1 million, while investing outflows were $5.9 million.

Infinity Natural Resources reported a preliminary third-quarter derivative loss of approximately $64.4 million, comprising $1.2 million of realized losses on settled contracts and $63.2 million of noncash unrealized losses. Infinity said the unrealized component reflected revaluation of open positions using quarter-end forward commodity-price curves and did not represent current-period cash inflows or outflows.