AIxCryptoホールディングス（AIXC）2026年第2四半期決算説明会：流動性逼迫のなかRoboShareを推進

AIxCrypto Holdings, Inc.（AIXC）は、リソースを「RoboShare」に集中させる一方で、2026年第2四半期の純損失を前四半期比で縮小させました。経営陣は8月にロサンゼルスでマーケットプレイスを通じたロボットレンタル事業の開始を目指していますが、限られた手元資金と継続企業の前提（ゴーイング・コンサーン）に関する開示が引き続き主な制約となっています。

要約

• 2026年第2四半期の純損失は419万ドルで、2026年第1四半期の608万ドルから縮小したものの、2025年第2四半期の169万ドルを上回りました。
• 営業費用は前四半期の433万ドルから296万ドルへと前四半期比で減少しましたが、前年同期の168万ドルは依然として上回っています。
• RoboShareは、2026年下半期におけるAIXCの最優先事業・商用化課題です。オペレーションの準備状況と実行力次第となりますが、8月にロサンゼルスでのマーケットプレイス事業の開始を目指しています。
• 6月30日時点の現金及び現金同等物は合計57万7,000ドルでした。デジタル資産の公正価値は521万ドルで、取得原価ベースの1,043万ドルを下回っています。
• 流動性は依然として制約されています。パイロットプログラムでの採用ペースやロサンゼルス以外への拡大は、利用可能な流動性、オペレーションの準備状況、パイロット事業の実績に依存します。
• AIXCは第2四半期中に株式の発行を行いませんでした。発行済株式数は3月31日時点と変わらず2,023万株で、8月7日時点で有利子負債はありません。

主要財務データ

事業および業績の動向

RoboShareは、ロボットの所有者と、完成機体やサービスベースのレンタルを求める企業・教育機関・その他のユーザーをつなぐマーケットプレイスとして設計されています。AIXCはAutomate 2026でこのプラットフォームを立ち上げ、RoboShare.comを通じて提供を開始しました。

同社はロサンゼルスでのパイロット展開に向けて、地域営業、カスタマーサービス、配車・派遣、倉庫管理、配送物流、研修、および標準手順の準備を進めています。また、サードパーティ所有者や既存の導入基盤からのロボット登録も進めています。

パイロット展開の最初の約90日間において、経営陣は累計レンタル日数、リピート顧客の動向、1注文あたりの収益性（ユニットエコノミクス）、およびオペレーションの準備状況を追跡する計画です。シリコンバレー、ニューヨーク、あるいはその他のシティーパートナー市場への拡大は、パイロット事業の結果、パートナーの準備状況、地域の市場条件に依存します。

AIXCは「ロボット・セカンドライフサイクル」モデルの開発も進めています。目指すアセットライトな手法では、過去に販売されたロボットやサードパーティの在庫をレンタル供給源として活用しつつ、機体識別、稼働率、サービス履歴、取引データを生成します。経営陣によると、これらのデータは将来的に残存価値基準の策定や中古ロボット事業の推進を後押しする可能性があるとのことです。

一部のAIエージェントに関する取り組みやFaraday Futureのエコシステム連携は開発途上にあります。しかし、AIXCはEAIプラットフォームや実物資産（RWA）のトークン化事業の優先順位をRoboShareの後ろに下げており、経営陣は5月に提示したタイムラインはもはや依拠すべきではないと述べています。

経営見通し

経営陣は、2026年8月にRoboShareマーケットプレイスでの初期アクティビティおよび製品納品を開始することを目指しています。それに伴う売上計上は、実行状況および適用される会計基準に依存します。

同社の2026年度計画フレームワークでは、8月に初期売上が発生し、販売およびプラットフォームのアクティビティの拡大に伴い前月比での成長を見込んでいます。また、経営陣は第3四半期にAgentir製品から最初の売上を見込んでいます。なお、AIXCは通期の売上高、純損失、営業費用に関する具体的な業績予想（ガイダンス）を開示していません。

経営陣は、RoboShareの継続的な収益、ならびにソフトウェアおよびインフラのマネタイズが、2026年度の予想売上高に最も大きく貢献すると見込んでいます。支出の優先順位は、RoboShareの商用化、費用規律の維持、および集中した資本投下を引き続き重視しています。

リスクおよび注視すべき点

• AIXCの財務諸表は継続企業の前提（ゴーイング・コンサーン）に基づき作成されていますが、開示された状況から継続企業の前提に重要な疑義を生じさせています。
• 四半期末時点の現金は57万7,000ドルに限られています。デジタル資産は価格変動が激しく、現金同等物には該当しません。
• 同社は追加の資金調達手段を検討していますが、パイロットプログラムでの採用や広範な拡大は流動性によって制限されます。
• RoboShareの8月開始のタイミングは、オペレーションの準備状況と実行力に左右されます。また、売上計上は適用される会計基準の要件を満たす必要があります。
• デジタル資産は第2四半期に98万4,000ドルの未実現評価損を計上し、公正価値は取得原価を大幅に下回っています。
• ロサンゼルス以外への拡大は、パイロット事業の収益性、顧客アクティビティ、パートナーの準備状況、地域の市場条件に依存します。

質疑応答のハイライト

経営陣は前四半期比での費用減少について、マーケティング費56万3,000ドル、法務費13万5,000ドル、会計費用32万8,000ドルの削減によるものと説明しました。AIXCは、社内の法務・会計機能の強化により外部アドバイザーへの依存度が低下したと述べています。

流動性に関して、経営陣は第2四半期の営業キャッシュフローの使用額が第1四半期の約450万ドルから約340万ドルへと縮小したことを強調しました。同社はRoboShareおよび中核的な事業ニーズを最優先し、裁量的支出を抑制するとともに、必要に応じて追加の資金調達手段を検討する方針です。

決算説明会文字起こし（全文）

決算説明会の完全なトランスクリプト

経営陣による説明

Operator

Greetings. Welcome to AIxCrypto Holdings, Inc. Second Quarter 2026 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to Andrew Grossman, Head of Legal for AIXC. Thank you. You may begin.

Andrew Grossman

Good afternoon. My name is Andrew Grossman, and I'd like to welcome you to the AIxCrypto Holdings Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, a replay of this call will be available on the company's Investor Relations website.

On today's call are Jerry Wang, the company's CEO; and Jay Sheng, the company's President and CFO. Mr. Wang will cover the company's strategy, business operations and capital matters, and Mr. Sheng will cover the financial results and outlook.

Before we begin, please note that today's discussion contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the company's strategy, product plans and time lines, targeted milestones, expected expenses, liquidity and capital resources and anticipated business developments.

Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including the risk factors described in the company's annual report on Form 10-K and its quarterly reports on Form 10-Q filed with the SEC.

The company's financial statements have been prepared on a going concern basis, and the related disclosures in the Form 10-Q describe conditions that raise substantial doubt about the company's ability to continue as a going concern. The company undertakes no obligation to update forward-looking statements, except as required by law. All figures discussed today are unaudited.

I would now like to turn the call over to Jerry Wang, AIXC's CEO.

Jiawei Wang

Thank you, Andrew, and thank you to everyone joining us. The second quarter and the weeks that followed marked an important transition for AIXC from strategic planning toward focused execution. We designated RoboShare as the company's top priority for the second half of 2026, and preparations for its Los Angeles launch are now underway. Our focus is on transitioning the strategy introduced during the quarter into tangible commercial progress. We have established a clear go-to-market plan, defined measurable operating priorities and aligned our resources around the initiatives we believe offer the strongest path towards commercialization.

In parallel, evaluating strategic opportunities that may strengthen the business remains a standing part of our long-term planning. I will cover our strategy and business together, followed by capital, and Jay will close with the financials.

Q2 2026 operational highlights. First, RoboShare marketplace launch and Los Angeles pilot. Our core thesis is that the binding constraint in the robotic economy is the user layer, not the hardware. Operation, transport and service still depend on scarce specialists, which keeps access costly and limits adoption. RoboShare is a vehicle for addressing that constraint and Uber plus Turo for robots designated to connect robot owners with enterprises, educational institutions and other users seeking flexible access to robotic equipment and services. At Automate 2026, we launched RoboShare as an on-demand robot sharing and matchmaking marketplace, supporting both whole machine and service-based rental and made the platform available at RoboShare.com.

We also introduced the City Partner program for local network operators. Preparations for the Los Angeles pilot are underway across local sales, customer service, dispatch, operating capabilities, warehouse and delivery logistics, operating training and standardized operating procedures. We're also onboarding robots from third-party owners and the existing installed base for listing through the marketplace. Initial marketplace facilitated rental activity is currently targeted to begin in August 2026, subject to operational readiness and execution, and we anticipate initial revenue opportunities in beginning of the third quarter, subject to applicable revenue recognition requirements.

Los Angeles will serve as the initial market for evaluating the model. During approximately the first 90 days, we intend to monitor cumulative rental days, repeat consumer activity, per order economics and overall operational readiness. Decisions regarding expansion into additional markets, including Silicon Valley and New York and further development of the City Partner program will depend on pilot performance, partner readiness and local market conditions.

Two, Robot Second Life Cycle. At Automate 2026, we also introduced the Robot Second Life Cycle. The concept that a robot can continue creating value after its initial sale through utilization value, extended user value and network value. This model is intended to be asset-light. Previously sold robots and robots supplier by third-party owners are being onboarded as rental supply, allowing the marketplace to expand without requiring the company to invest additional resources. Rental activity can generate machine identity, usage records, service history and multiparty transaction data, creating a foundation for the supporting digital infrastructure and future residual value standards.

Alongside RoboShare, we are developing the inspection, valuation and recirculation standards required for future robotic resale market. Over time, marketplace activity is intended to support residual value assessments based on data, including demonstrated utilization, earning potential and service history in addition to age and depreciation. We plan to launch a pre-owned robot business in the future to provide more predictable resale information for owners and better purchase information for buyers.

Three, AI Agent and ecosystem development. During the quarter, we continued to advance our broader AI Agent strategy. In April, we began initial internal enterprise testing of certain AI Agent capabilities evaluating workflow integration, identifying optimization opportunities and refining vertical use cases within our own operating environment. AIXC is also developing the marketplace and supporting digital infrastructure intended to connect robot owners, operators and customers while capturing usage and transaction data generated through the platform. We continue to advance selected proof-of-concept initiatives through strategic partnerships, including our collaboration with Faraday Future as a lead ecosystem partner. These long-term initiatives remain under development, while our immediate commercial focus remains RoboShare and ground-based robotics.

Second half 2026 execution priorities. For the second half of 2026, RoboShare remains the company's primary operating and commercialization priority. We are preparing to initiate marketplace facilitated robot sharing activity in Los Angeles currently targeted to begin in August, subject to operational readiness, execution and applicable revenue recognition requirements. Other AI agent and ecosystem initiatives will continue to be evaluated and developed selectively with resources prioritized toward RoboShare. Additional milestones and timing will be communicated as appropriate.

Before I conclude this overview, let me also update you on 2 of the initiatives we described in May. Our EAI platform and RWA tokenization work continues, but both are sequenced behind RoboShare and are moving on longer time lines. We're not attaching new days today and the time lines we indicated in May should no longer be relied upon. This change reflects our decision to concentrate the company's resources and operating efforts. We launched RoboShare at Automate in June. And in July, we designated it as the company's top operating priority for the second half of 2026.

We believe it represents our nearest path to revenue and that the operating record it produced, including use data, machine identity and transaction history will provide the foundation for the rest of our infrastructure work. Everything I have just described is an operating plan and sustaining an operating plan is a capital question.

Before Jay reviews the financial results, let me address the capital dimension, how we engaged the market this quarter, our commitment on communication and our capital discipline. First, strategic opportunities. We continue to evaluate strategic opportunities that may complement or expand beyond our existing business and support the company's long-term growth across AI, robotics and real-world connectivity. We will provide further information regarding any material developments.

Second, Investor Relations and capital discipline. During the quarter, we continued engaging with investors and industry stakeholders as the company advanced its strategy in AI, robotics and digital infrastructure. This included activities surrounding Automate 2026, and the launch of RoboShare, which marked an important step in moving our strategy toward commercial execution. Consistent and timely communication with shareholders remains an important part of our operating plan. We intend to continue providing updates tied to material milestones and verified operating progress while ensuring that our public statements remain accurate. During the second quarter, the company issued no new shares and common shares outstanding at June 30 were unchanged from March 31.

With that, I will turn the call over to Jay, who will review the second quarter financial results and outlook in greater detail.

Jie Sheng

Thank you, Jerry, and good afternoon, everyone. I'm pleased to join you for my first earnings call with AIXC and appreciate the opportunity to speak directly with our shareholders.

The financial results for the second quarter mirror the operating narrative and can be summarized in 3 points: skewed advancements in robotics, decline of cost base and the share count was unchanged. Together, those 3 points provided the time and the credibility to execute the delivery calendar Jerry outlined, and I will be equally direct about the constraint we are managing against, which is liquidity. Unless noted, comparisons are to the second quarter of 2025, and all figures are unaudited.

Total operating expenses for the second quarter were $2.96 million compared to $1.68 million in the prior year quarter. And more importantly, for the company's trajectory, down sequentially from $4.33 million in the first quarter. General and administrative expenses were $2.87 million, which included a nonrecurring director resignation fee of $394,000 (sic) [ $395,000 ] and $99,000 of fees under the master service agreement with Faraday Future, our majority stockholder. Sales and marketing expenses were $86,000, down from $638,000 in the first quarter. The first quarter carried the front-loaded brand launch investment and second quarter expenditure reflects the deliberate reallocation of resources to RoboShare operation.

Credit loss expenses was 0 compared to $271,000 in the prior year quarter. Total other expenses net was $1.23 million. The largest component was an unrealized loss on digital assets of $984,000, which compares to $1.95 million net loss in the first quarter. Changes in the unrealized net loss and gain in the digital assets are due to crypto price fluctuations.

Net loss for the quarter was $4.19 million compared to $1.69 million in the prior year quarter and an improvement from the first quarter's $6.08 million. Net loss per share, basic and diluted was minus $0.21 for the quarter and minus $0.73 for the 6 months on weighted average shares outstanding of 20.28 million and 14.03 million, respectively. The loss reflects continued investment in platform commercialization, software development, professional services, governance transition activities and strategic growth initiatives. For the 6 months, total operating expense were $7.29 million and net loss was $10.27 million.

The entire second quarter change in our digital assets treasury were a result of fair value remeasurement. We neither purchased nor sold digital assets during the quarter or dispositions this year occurred in the first quarter. Holdings at June 30 were a fair value of $5.21 million against a cost base of $10.43 million.

Turning to the balance sheet. We have $12 million of the parent company equity held in stockholders' equity. This balance reflects the accounting treatment of the company's Faraday Future related securitized position following the completion of amended GKA/FFAI investment transition, which converted approximately $12 million of prepaid investments into parent company's equity held. This transition is purely a balance sheet reclassification and does not alert the existence or substance of the company's underlying position.

For the balance sheet at June 30, we reported cash and cash equivalents of $577,000 and digital assets with a fair value of $5.2 million, bringing the combined carrying value of cash and digital assets to approximately $5.8 million. Total assets were $7.4 million and included $685,000 of capitalized software development in progress.

During the second quarter, we capitalized approximately $279,000 of development costs related to RoboShare, AI applications and broader ecosystem initiatives. Total current liabilities were $1.7 million, down significantly from $3.3 million at year-end. A major driver of that improvement was a reduction in related party payables, which declined from $1.65 million at December 31, 2025, to approximately $237,000 at June 30. Share outstanding at June 30 were 20.23 million shares, unchanged from March 31. There were no conversion, warrant exercise or share issuance of any kind during the second quarter.

Turning to the cash flow. Operating activities used $7.9 million during the first 6 months of the year compared with $4.5 million used in the first quarter as previously reported in our first quarter Form 10-Q. Investing activities primarily reflect our $12 million investment in Faraday Future, including $10 million funded in first quarter and an additional $2 million funded in the second quarter.

Investing activities also included $553,000 of capitalized software development costs. For the first half of the year, the only financing activity was the final repayment of $132,000 of convertible debt in the first quarter. As of today, August 7, we had no outstanding debt.

Turning to liquidity. We ended the quarter with cash and cash equivalents of $577,000. As discussed more fully in our Form 10-Q, we continue to manage our liquidity carefully and evaluate available capital resources to support ongoing operations and commercialization. Our priorities remain expense discipline, focused capital deployment and advancement of our near-term commercial initiatives.

Let me provide the complete picture of our resources and our plan. First, cash and digital assets with an aggregating carrying value of approximately $5.8 million. The digital assets treasury is held in exchange-traded assets, although its value fluctuates. Second, total operating expense that declined to $2.96 million from $4.33 million in the first quarter with further normalization in progress and total current liabilities that declined to $1.72 million from $3.32 million at year-end. And third, our nearest stated commercial milestone of first RoboShare delivery target within August.

Our capital priorities are unchanged, commercialization of RoboShare, maintain expense discipline. Management remains focused on advancing commercialization efforts, expand recurring revenue streams and strengthen long-term shareholder value while maintaining disciplined liquidity and capital allocation.

Those are the results. I will now turn to the framework for the remainder of the year, our objectives and how expenditures is managed against them.

Our objective over the next 2 quarters is to convert the first half foundation into initial product delivery and revenue. Objective number one, RoboShare commercialization. We strive towards the commercialization of RoboShare through the robot sharing marketplace service and robot deployment and operation services. Objective number two, robotic service revenue. As RoboShare grows its base of customers, the company aims to develop the platform revenue by matching customers with robot merchandise, driving repeat service engagements and enabling other usage-based transactions across the marketplace, intended to build a long-term customer relationship.

The financial framework we manage against has 3 components: revenue ramp, operating expense normalization and disciplined treasury management. Recurring revenue from the RoboShare and development of software and infrastructure monetization represents the largest forecasted revenue contributors for financial year 2026 with the forecast assuming initial revenue generation in August and continued month-over-month growth of sales and platform activity scale.

We also anticipate initial revenue generation begins in the third quarter through Agentir products. We have also strengthed internal control to improve financial discipline and support our financial year 2026 budget targets. Consistent with our practice to date, we are not providing specific full year revenue, net loss or operating expense guidance figures.

Our 2026 execution priorities remain unchanged with a near-term focus on initial revenue generation. The company expects its strategic relation with Faraday Future to support AI robotic strategy through potential collaboration in the robot research and development, commercialization and access to robotic assets that may support RoboShare and the second life cycle model.

The quarter's balance sheet initiatives leaves us with approximately $7.4 million of the total assets, including approximately $5.2 million of the digital assets. Future operating results are expected to be increasingly influenced by RoboShare deployment, platform commercialization, ecosystem participation and utilization-based revenue model and the robotics ecosystem, RoboShare and its supporting infrastructure, adding utilization value, extended use value and network value revenue, potentially across the robot operating life.

With that, I will hand the call back to Jerry.

Jiawei Wang

Thank you, Jay. Let me close with our near-term execution priorities. We're preparing to initiate marketplace facilitated RoboShare activity in Los Angeles currently targeted to begin in August. During approximately the first 90 days of the Los Angeles pilot, we intend to monitor key indicators, including cumulative usage days, repeat customer activity, per order economics and overall operational readiness. The results will inform decisions regarding potential expansion into additional markets and the further development of the City Partner program. We also continue to advance Agentir with additional milestones and timing to be communicated as they are finalized. Across these initiatives, our principal focus remains disciplined execution, ground-based robotic commercialization and transparent communication regarding material operating progress.

To our shareholders, we recognize that the second quarter required patience. We appreciate your continued support and maintain committed to building the operating foundation required for sustainable growth and long-term shareholder value.

Thank you for joining us today. We will now proceed to the selected questions and responses.

Andrew Grossman

Thank you. We will now begin the question-and-answer session addressing several questions and topics that we hear most often.

Question one, what is AIXC's main operating priority for the rest of 2026?

Jiawei Wang

RoboShare is our primary operating and commercialization priority for the second half of 2026. We are preparing to initiate marketplace facilitated rental activity in Los Angeles, currently targeted for August, subject to operational readiness and execution. Whether and when that activity results in recognized revenue will depend on execution and applicable revenue recognization requirement. We will provide updates as material operating milestones are achieved.

Andrew Grossman

Question two, why did operating expenses decline in the second quarter?

Jie Sheng

Total operating expenses declined from approximately $4.3 million in Q1 to approximately $3 million in Q2. The decrease was driven by a reduction of $563,000 in marketing expenses, $135,000 in legal expenses and $328,000 in accounting expenses. Prepaid marketing amortization made up the bulk of marketing expenses in Q1, whereas Q2 had only a fraction of the prepaid marketing left to amortize. The significant reduction in accounting and legal expenses is a direct result of the company's strengthened in-house legal and accounting department and the dramatic decrease on its reliance of external legal counsel, SEC reporting, general accounting and technical accounting.

Andrew Grossman

Question three, how is the company managing its liquidity position?

Jie Sheng

Liquidity remains constrained. As of June 30, the company had approximately $577,000 of cash and $5.2 million of digital assets. The digital assets are volatile and are not cash equivalents. Based on the current financial statements, operating cash used was approximately $3.4 million in Q2 compared with approximately $4.5 million in Q1, and operating expenses also declined substantially. Our near-term plan is to prioritize spending on RoboShare commercialization and [ cover ] operating needs, continuing to manage discretionary costs and evaluate additional sources of capital as needed. The pace of the pilot hiring and any broader expansion will be gated by available liquidity, operational readiness and pilot performance.

Operator

Thank you. That will conclude today's conference. You may disconnect at this time, and thank you for your participation.