Eastman Kodak's stock plummeted 22.57% during intraday trading on Friday, extending significant pre-market losses.

The sharp decline was driven by the company's disappointing first-quarter 2026 financial results, which revealed a GAAP net loss of $16 million, significantly wider than the $7 million loss reported in the same period last year. Losses per share also deteriorated to $(0.21) from $(0.12) a year earlier, representing a 75% increase in losses year-over-year.

While the company reported a 7% year-over-year revenue increase to $265 million and an improvement in operational EBITDA, investors focused on the expanding bottom-line losses, leading to the substantial sell-off.