Quarterly ResultMay 11, 2026, 04:38 PM
AIxCrypto Holdings Q1 Net Loss Widens to $6.08M; Cash Drops to $6.2M
AI Summary
AIxCrypto Holdings reported a net loss of $6.08 million for Q1 2026, significantly wider than the $2.65 million loss in Q1 2025. The company's cash and cash equivalents decreased to $6.20 million from $19.33 million at year-end 2025, and digital assets fell to $6.20 million from $10.25 million. The company also made a $10.0 million prepaid investment in a related party, Faraday Future, and converted $26.43 million of Series B preferred shares into common stock. Management expressed substantial doubt about the company's ability to continue as a going concern.
Key Highlights
- Net loss for Q1 2026 widened to $6.08 million from $2.65 million in Q1 2025.
- Cash and cash equivalents decreased to $6.20 million as of March 31, 2026, from $19.33 million at December 31, 2025.
- Digital assets declined to $6.20 million from $10.25 million at year-end 2025, with a net loss of $1.95 million.
- Net cash used in operating activities was $4.50 million, up from $1.59 million in Q1 2025.
- The company made a $10.0 million prepaid investment in a related party, Faraday Future Intelligent Electric Inc.
- Series B preferred shares totaling $26.43 million were converted into common stock during the quarter.
- Accumulated deficit increased to $146.11 million as of March 31, 2026.
- Management expressed substantial doubt about the company's ability to continue as a going concern.