Datavault AI — Second Quarter 2026 Earnings Summary

Financial Performance

• Q2 2026 revenue was $6.7 million, a 287% increase from $1.7 million in Q2 2025.
• Gross profit for Q2 2026 was $2.9 million, compared to $35,000 in Q2 2025.
• Research and development expenses were $7.2 million in Q2 2026, up $3.0 million from $4.2 million in Q2 2025.
• Sales and marketing expenses were $7.2 million in Q2 2026, up $5.5 million from $1.7 million in Q2 2025.
• General and administrative expenses were $14.9 million in Q2 2026, up $8.4 million from $6.5 million in Q2 2025.
• Net loss for Q2 2026 was $88.0 million, compared to a net loss of $37.1 million in Q2 2025.
• Net loss per share for Q2 2026 was $0.12, compared to $0.54 in Q2 2025.
• Cash and cash equivalents were $1.4 million as of June 30, 2026, down from $2.0 million as of December 31, 2025.
• Total assets were $276.6 million as of June 30, 2026, compared to $274.7 million as of December 31, 2025.
• Total liabilities were $30.7 million as of June 30, 2026, down from $36.7 million as of December 31, 2025.
• Total stockholders' equity was $245.9 million as of June 30, 2026, up from $238.0 million as of December 31, 2025.
• Crypto assets held were $49.0 million as of June 30, 2026, down from $92.2 million as of December 31, 2025.
• Loss on crypto assets for the six months ended June 30, 2026, was $25.1 million.
• Impairment of investments in non-marketable securities for the six months ended June 30, 2026, was $58.9 million.

Guidance and Future Outlook

• Datavault AI reiterates its full-year 2026 revenue target of at least $200 million, representing an approximate 400% year-over-year growth rate.
• Management expects to shift focus in the second half of 2026 to launching exchanges, scaling the SanQtum platform, and converting contracted opportunities into recognized revenue.
• The Company anticipates the total tokenized value of the Project Qestrel program will exceed $1 billion.

Business Segments and Product Lines

• Completed the acquisition of NYIAX, adding programmatic, blockchain-based ad-contract infrastructure to the Information Data Exchange®.
• Entered a definitive agreement to acquire CyberCatch Holdings, Inc., to integrate AI-enabled cyber-risk mitigation and quantum-resistant security into the SanQtum edge platform.
• Advanced collaboration with Fiserv to integrate data monetization and tokenization technologies with Fiserv's financial technology infrastructure.
• Continued the nationwide build-out of the quantum-ready GPU edge network with Available Infrastructure following initial New York and Philadelphia deployments.
• Expanded sports and entertainment monetization initiatives through licensing relationships with Tyson Fury, Roberto Clemente, Darryl Strawberry, and Dwight "Doc" Gooden.
• Entered an agreement with Perpetuals.com to provide international secondary-market access for tokenized real-world assets (RWAs).
• Advanced a strategic minerals initiative with Patriot Strategic Metals.
• Announced plans to tokenize Available Infrastructure's Project Qestrel, a planned nationwide fleet of 1,000 cybersecure, sovereign edge data centers across 100 U.S. cities and more than 30 states.
• The Company operates through two divisions: Data Science (including Data Vault®, DataValue®, DataScore®, cybersecurity, tokenization, and exchange capabilities) and Acoustic Science (including WiSA®, ADIO®, spatial audio, and experiential media businesses).

Market and Competitive Landscape

• The Company is building an integrated ecosystem where components serve distinct roles: NYIAX provides exchange infrastructure and IP; CLEAR provides identity and credentialing; Fiserv provides payments and settlement; IBM watsonx serves as AI infrastructure; Available powers the distributed edge-computing network; and CyberCatch strengthens security and compliance.
• The Company intends to use its patented tokenization technology and Information Data Exchange® platform to create $QEST utility tokens representing access and usage rights to compute capacity across the Project Qestrel network.

Risks and Challenges

• Risks include the potential failure to achieve the full-year 2026 revenue target.
• Risks related to the ability to deploy technologies and gain market share in target markets.
• Risks that regulatory changes regarding digital assets may negatively impact operations or revenue growth.
• Risks that the CyberCatch acquisition may not be completed on anticipated terms, timeline, or at all.
• Risks that anticipated synergies from the NYIAX and CyberCatch acquisitions may not be realized within the expected timeframe.
• Risks associated with integrating NYIAX and CyberCatch.
• Risks that anticipated exchange launches may be delayed or contracted opportunities may not convert into commercial activity.
• Risks that the Company may be unable to issue or list $QEST tokens or obtain required regulatory clearances.
• Risks that the nationwide SanQtum and Project Qestrel buildout will be delayed, not completed, or not perform as expected.
• Risks arising from dependence on third parties, including Available Infrastructure.
• Risks associated with evolving regulatory frameworks applicable to tokenized assets.

Management Commentary and Tone

• CEO Nathaniel Bradley stated that the Company made significant progress assembling the technology, infrastructure, and strategic capabilities required to bring the platform to market at scale.
• Management indicated that the core platform buildout is well underway and the focus for the second half of 2026 is on execution.
• Bradley emphasized that partnerships were never intended to operate independently and now form an integrated ecosystem.

Other Key Points

• Appointed Barry Childe as Chief Information Security Officer and Dean Becker as Chief Licensing Officer.
• The Company's stock price is not mentioned, but the ticker is NASDAQ: DVLT.
• A webcast conference call was hosted by CEO Nathaniel Bradley and CFO Brett Moyer on August 19, 2026.
• The Company holds $24.0 million in related party receivables as of June 30, 2026.
• The Company has $3.7 million in short-term convertible notes payable to a related party as of June 30, 2026.
• The number of shares issued and outstanding increased to 854.5 million as of June 30, 2026, from 573.4 million as of December 31, 2025.
• Accumulated deficit increased to $(518.6) million as of June 30, 2026, from $(377.4) million as of December 31, 2025.