$DVLT

Datavault AI Inc.

CIK:0001682149|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total net revenue	$ 6,717	$ 1,735	$ 10,133	$ 2,364
Total cost of net revenue	3,839	1,700	7,144	2,260
Gross profit	2,878	35	2,989	104
Operating Expenses:
Research and development	7,235	4,224	12,964	6,585
Sales and marketing	7,184	1,742	13,820	3,237
General and administrative	14,915	6,528	33,611	12,172
Total operating expenses	29,334	12,494	60,395	21,994
Loss from operations	(26,456)	(12,459)	(57,406)	(21,890)
Interest expense, net	(1,000)	(17,202)	(2,121)	(17,322)
Change in fair value of 2025 Notes measured at fair value	0	(8,804)	0	(8,804)
Change in fair value of convertible note to related party measured at fair value	0	1,355	0	1,355
Loss on Crypto assets	(8,094)	0	(25,050)	0
Extinguishment of debt	0	0	(1,725)	0
Impairment of investments in non-marketable securities	(56,372)	0	(58,906)	0
Change in fair value of warrant liability	3,866	2	3,866	19
Other income/(expense), net	31	(3)	186	(32)
Loss before provision for income taxes	(88,025)	(37,111)	(141,156)	(46,674)
Provision for income taxes	0	5	0	5
Net loss attributable to common stockholders	$ (88,025)	$ (37,116)	$ (141,156)	$ (46,679)
Net loss per common share- basic (in dollars per share)	$ (0.12)	$ (0.54)	$ (0.22)	$ (0.77)
Net loss per common share- diluted (in dollars per share)	$ (0.12)	$ (0.54)	$ (0.22)	$ (0.77)
Weighted average number of common shares used in computing net loss per common share - Basic (in shares)	727,623,511	68,174,418	651,345,981	60,968,158
Weighted average number of common shares used in computing net loss per common share - Diluted (in shares)	727,623,511	68,174,418	651,345,981	60,968,158
Live Events
Total net revenue	$ 2,839	$ 1,432	$ 5,338	$ 1,432
Total cost of net revenue	3,278	1,396	6,073	1,396
Consumer Audio Products, Components and Other
Total cost of net revenue	557	304	1,067	864
Consumer Audio Products, Components and Other \| Nonrelated Party
Total net revenue	1,053	277	1,829	895
Consumer Audio Products, Components and Other \| Related Party
Total net revenue	316	26	457	37
Patent License
Total net revenue	2,509	0	2,509	0
Total cost of net revenue	$ 4	$ 0	$ 4	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (141,156)	$ (46,679)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	10,891	1,799
Depreciation and amortization	6,449	4,825
Amortization of debt discounts and paid-in-kind interest	1,308	520
Change in fair value of convertible debt	0	7,595
Fair value of equity warrants in interest expense	0	16,657
Loss on digital assets	25,050	0
Debt extinguishment	1,725	0
Impairment of investments in non-marketable securities	58,906	0
Shares payable to NYIAX	0	1,088
Change in fair value of warrant liability	(3,866)	(19)
Changes in operating assets and liabilities:
Unbilled accounts receivable	1,084	21
Inventories	(306)	416
Prepaid expenses and other current assets	(43,269)	182
Prepaid software	1,473	0
Other assets	446	54
Related party payable	146	0
Accrued liabilities	393	(68)
Other liabilities	(481)	(65)
Net cash used in operating activities	(79,963)	(12,831)
Cash flows from investing activities:
Issuances of notes receivable	(2,000)	0
Repayment of note receivable	100	0
Purchases of property and equipment	(582)	(52)
Construction in progress	(555)	0
Purchases of intangible assets	(824)	0
Investment in non-marketable securities	(300)	0
Net cash used in investing activities	(17,110)	(6,552)
Cash flows from financing activities:
Proceeds from issuance of short-term debt	2,000	0
Proceeds from issuance of convertible notes, net of issuance costs	0	13,698
Debt issuance costs	(80)	0
Equity issuance costs	(1,626)	0
Repurchase of common stock warrants	0	(622)
Net cash provided by financing activities	96,469	16,715
Net decrease in cash and cash equivalents	(604)	(2,668)
Cash and cash equivalents as of beginning of period	2,004	3,330
Cash and cash equivalents as of end of period	1,400	662
Non-cash Investing and Financing Activities:
ATM non-cash offering costs	5,557	0
Intangible assets acquired with issuance of common stock	5,401	0
Investment in Vivasor, Inc. through common stock issuance	56,198	0
Warrant dividend classified as liability	3,972	0
Capitalized acquisition costs	0	117
CompuSystems, Inc. Convertible Notes issued for CompuSystems, Inc. acquisition	0	9,718
Non cash common shares issued in CompuSystems, Inc. acquisition	0	10,282
Deposit paid in December 2024 used in CompuSystems, Inc. acquisition closing	0	1,000
Shares payable to NYIAX in share exchange agreement	0	1,088
Reclass liability warrant to equity	0	15
May 2025 10% note conversions	0	1,545
At-The-Market (ATM) Program
Cash flows from financing activities:
Proceeds form issuing shares	32,363	0
Registered Direct Offering
Cash flows from financing activities:
Proceeds form issuing shares	55,740	0
Vivasor Subscription Agreement
Cash flows from financing activities:
Proceeds form issuing shares	0	4,722
API Media, Net
Cash flows from investing activities:
Cash paid for acquisition	(12,949)	0
CSI, Net
Cash flows from investing activities:
Cash paid for acquisition	0	(6,500)
Nonrelated Party
Changes in operating assets and liabilities:
Accounts receivable and related party receivable	(2,312)	(119)
Accounts payable	(2,404)	962
Cash flows from financing activities:
Repayments of notes payable and convertible note payable, related party	(6,688)	0
Related Party
Changes in operating assets and liabilities:
Accounts receivable and related party receivable	5,960	0
Cash flows from financing activities:
Advances from related party	18,700	0
Repayments of notes payable and convertible note payable, related party	(3,940)	(1,083)
Non-cash Investing and Financing Activities:
Repayment of advances from related party with Bitcoin	$ 18,156	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 1,400	$ 2,004
Accounts receivable	3,598	888
Related party receivable	$ 24,040	$ 30,000
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party	Related Party
Unbilled accounts receivable	$ 621	$ 1,705
Inventories	942	636
Note receivable	1,900	0
Crypto assets	49,016	92,222
Deferred offering costs	5,245	5,500
Prepaid software license, current	8,084	7,759
Prepaid expenses and other current assets	40,115	2,159
Total current assets	134,961	142,873
Property and equipment, net	2,452	606
Intangible assets, net	100,235	94,816
Goodwill	27,285	19,135
Prepaid software license, noncurrent	5,158	6,956
Investments in non-marketable securities	1,892	4,300
Deposit for business combination	0	1,000
Other assets	4,659	5,018
Total assets	276,642	274,704
Current Liabilities:
Accounts payable	9,705	10,832
Accrued liabilities	11,549	11,002
Due to related party	788	98
Short-term promissory notes	1,544	1,013
Total current liabilities	27,266	26,881
Convertible notes payable	0	5,917
Other liabilities	3,482	3,932
Total liabilities	30,748	36,730
Commitments and contingencies (Note 9)
Equity, Attributable to Parent [Abstract]
Common stock, par value $0.0001; 2,000,000,000 shares authorized; 854,456,625 and 573,438,153 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	87	59
Additional paid-in capital	764,408	615,360
Accumulated deficit	(518,601)	(377,445)
Total stockholders’ equity	245,894	237,974
Total liabilities and stockholders’ equity	276,642	274,704
Related Party
Current Liabilities:
Short-term convertible note payable, related party	$ 3,680	$ 3,936