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Enhanced Group Inc. Reports Third Quarter 2026 Results
- ENHA
- LOU.HM
Definitive agreement signed to acquire ~77% of DEAG Deutsche Entertainment AG as announced on November 5, 2026
Stake in DEAG to be acquired(3), with combined 2027E revenue expected at approximately $670 million and combined 2027E Adjusted EBITDA(1)(3)expected at approximately $26 million
Concurrent $15 million straight equity PIPE announced
Third quarter revenue of $3.3 million, including increasing Live Enhanced telehealth revenues
Third quarter Net Loss of $13.5 million
Third quarter Adjusted EBITDA(1)(2)loss of $8.8 million
Cash and cash equivalents of $12.1 million as of September 30, 2026, prior to the $15 million PIPE announced on November 5, 2026, and not including anticipated $20 million in sponsorship
NEW YORK, November 12, 2026–(BUSINESS WIRE)–Enhanced Group Inc. (NYSE: ENHA) (“Enhanced” or the “Company”), a sports, live entertainment and performance products company, today announced financial results for its third quarter ended September 30, 2026. The results reported today reflect the stand-alone business of Enhanced Group – Enhanced Games and Live Enhanced. On November 5, 2026, the Company announced definitive agreements to acquire an approximately 77% controlling interest in DEAG Deutsche Entertainment AG (“DEAG”), a leading Pan-European Live Entertainment & Ticketing Group. Following the closing, (expected for the first quarter of 2027), Enhanced will fully consolidate DEAG. The consolidation is expected to completely change the financial profile of Enhanced Group, with approximately $670 million revenue and $26 million EBITDA expected for the full year 2027 for the combined group.
Business & Operational Highlights
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Executed exchange share agreements with a small group of DEAG shareholders to acquire a 77% controlling interest in DEAG.
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Concurrent with the DEAG exchange share agreements, executed a securities purchase agreement for a private placement to raise an additional $15 million from long-term, blue chip investors.
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Successfully completed the “Enhanced Breakers 1” event, featuring Beatriz Pirón who, after having to withdraw from the inaugural Enhanced Games in Las Vegas due to an injury, returned just six weeks later following a highly personalized recovery and enhancement protocol to set a new world record in the snatch – showcasing the power of personalized enhancements.
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“Enhanced Breakers 2” will take place on December 19, 2026 at the University of Nevada, Las Vegas, featuring eight swimmers, four men and four women, in a 25-meter short-course format. Enhanced Breakers events operate at a fraction of the cost of a flagship Enhanced Games event, yet provide massive visibility and fan engagement, particularly
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Launched the beta version of “Enhanced OS” today. “Enhanced OS” is an AI-powered platform designed to combine medical records, biomarkers testing and wearable data into individualized health plans, with licensed physicians retaining clinical decision-making authority.
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Expanded its offerings to include Modafinil and six additional peptides, including BPC-157, TB-500, KPV, MOTS-c, Epitalon and Semax, through its Live Enhanced telehealth platform, supplementing its existing offerings of 12 Rx products. All peptides are available by prescription.
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Amended the Rezolve sponsorship agreement on August 11, 2026 so that the commitment is a fixed dollar consideration of $10.0 million, settled in Rezolve ordinary shares, which are subject to a lock-up through December 23, 2026.
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Completed the third and final closing of its approximately $50 million private placement on August 14, 2026.
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Effected a one-for-ten reverse stock split, effective October 29, 2026.
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Apeiron, Mr. Martin and other key shareholders voluntarily extended the lock-up on approximately 3.1 million Class A shares from six months to twelve months, as announced on November 2, 2026. This extension reduced the number of shares subject to the expiration of the original lock-up period on November 8, 2026 by 60%.
