Datavault AI (DVLT) Q1 2026 earnings summary

Executive summary

• Maintains 2026 revenue guidance of $200 million, supported by over $800 million in tokenization contracts and nearly $100 million in expected fees, with revenue recognition weighted to the second half of the year.

• Q1-2026 revenue was $3.4 million, up 443% year-over-year, driven by acquisitions including CompuSystems Inc. and API Media Innovations.

• Net loss for Q1-2026 was $53.1 million, reflecting higher operating expenses and crypto asset losses.

• Strengthened balance sheet with $60 million raised via registered offering and $120 million in non-dilutive funding, increasing working capital to $140 million and total available funding to $250 million.

• Announced spin-out of Acoustic Sciences division (API Media) and closing of NYIAX and CyberCatch acquisitions to enhance platform and cybersecurity capabilities.

Financial highlights

• Q1-2026 revenue: $3.4 million (Q1-2025: $0.6 million); gross profit: $0.1 million; gross margin: 3% (down from 11%).

• Net loss: $53.1 million (Q1-2025: $9.6 million); adjusted EBITDA for Q1-2026 was negative $25.8 million.

• Operating expenses: R&D $5.7 million, Sales & Marketing $6.6 million, G&A $18.7 million.

• Cash and cash equivalents at March 31, 2026: $2.2 million; total assets: $250.1 million.

• Working capital increased to $140 million after fundraising.

Outlook and guidance

• Reiterated at least $200 million in revenue for 2026, with significant contributions from tokenization contracts and anticipated regulatory tailwinds from the CLARITY Act.

• Revenue expected to ramp in the second half of the year, with July anticipated as a record month pending regulatory developments.

• Additional capital raises anticipated to fund operations and infrastructure expansion.

• Spin-out of Acoustic Sciences division targeted for year-end, creating two separate tickers.

• International exchange launches planned to coincide with U.S. regulatory developments.