AIxCrypto Holdings (AIXC) 2026财年第二季度业绩电话会：流动性紧缩背景下推进RoboShare

AIxCrypto Holdings, Inc.（AIXC）在2026财年第二季度环比缩减了净亏损，同时将资源集中于RoboShare项目。管理层计划于8月在洛杉矶推出基于平台的机器人租赁服务，但有限的现金流以及公司持续经营能力的相关披露仍是主要制约因素。

核心要点

• 2026财年第二季度净亏损为419万美元，而2026财年第一季度净亏损为608万美元，2025财年第二季度净亏损为169万美元。
• 运营费用环比降至296万美元（上一季度为433万美元），但仍高于去年同期的168万美元。
• RoboShare是AIXC 2026年下半年的主要运营与商业化重点。洛杉矶平台的业务活动预计将于8月启动，具体取决于运营准备情况和执行进度。
• 截至6月30日，现金及现金等价物总计为57.7万美元。数字资产公允价值为521万美元，而成本基数为1043万美元。
• 流动性依然紧张。试点人员招募速度以及向洛杉矶以外地区的扩展，将取决于可用流动性、运营准备情况以及试点表现。
• AIXC在第二季度未发行新股。截至3月31日，已发行在外股份维持2023万股不变；截至8月7日，公司无未偿债务。

关键财务数据

业务与运营表现

RoboShare旨在构建一个撮合平台，将机器人所有者与寻求整机或基于服务租赁的企业、教育机构及其他用户连接起来。AIXC在Automate 2026展会上推出了该平台，并通过RoboShare.com正式上线。

公司正在为洛杉矶试点项目准备本地销售、客户服务、调度、仓储、交付物流、培训及标准化流程。此外，公司还在引入来自第三方所有者和现有安装基础的机器人。

在试点项目的前90天左右，管理层计划追踪累计租赁天数、客户复购情况、单均经济效益以及运营准备情况。向硅谷、纽约或其他城市合作伙伴市场的扩展将取决于试点结果、合作伙伴准备情况及当地市场条件。

AIXC还在开发其“机器人二次生命周期”模式。这一预期的轻资产模式将利用此前售出的机器人和第三方库存作为租赁供给，同时生成机器身份、利用率、服务历史和交易数据。管理层表示，这些数据最终可为残值标准制定和二手机器人业务提供支撑。

精选的AI Agent（AI代理）项目以及与Faraday Future生态系统的合作仍在开发中。然而，AIXC已将其EAI平台和真实世界资产（RWA）代币化工作的优先级置于RoboShare之后，管理层表示不应再依赖5月份给出的时间表。

管理层展望

管理层计划于2026年8月启动RoboShare平台的首次业务活动和产品交付。由此产生的任何收入确认将取决于执行进度和适用的会计准则要求。

公司2026财年的规划框架假设8月开始产生初始收入，并随着销售和平台活动规模的扩大实现月度环比增长。管理层还预计第三季度将迎来Agentir产品的首次收入。AIXC未提供具体的全年收入、净亏损或运营费用指引。

管理层预计，RoboShare的经常性收入以及软件和基础设施的商业化变现将是2026财年预测收入的最大贡献来源。支出重点仍为RoboShare商业化、费用控制以及有针对性的资本配置。

风险与关注重点

• AIXC的财务报表是基于持续经营假设编制的，但披露的状况对其持续经营能力构成了重大疑虑。
• 截至季度末，现金仅为57.7万美元。数字资产具有波动性，且不属于现金等价物。
• 公司正在评估其他资金来源，而试点招聘和更广泛的扩张将受到流动性的限制。
• RoboShare在8月的时间表仍取决于运营准备情况和执行进度。收入确认亦取决于适用的会计准则要求。
• 数字资产在第二季度产生了98.4万美元的未实现亏损，且公允价值显著低于其成本基数。
• 向洛杉矶以外地区的扩展取决于试点项目的经济效益、客户活跃度、合作伙伴准备情况以及当地市场条件。

业绩会问答要点

管理层将费用环比下降归因于营销成本减少56.3万美元、法律成本减少13.5万美元以及会计成本减少32.8万美元。AIXC表示，内部法律和会计职能的加强减少了对外部顾问的依赖。

在流动性方面，管理层强调第二季度经营现金消耗量从第一季度的约450万美元降至约340万美元。公司计划优先保障RoboShare和核心运营需求、控制可裁量支出，并在需要时评估其他资金来源。

业绩会电话会议实录全文

完整财报电话会议逐字稿

管理层陈述

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.