DHC Acquisition Corp.

Q2 revenue was $5,000, compared with none in Q2 2024. Operating expenses decreased 55.6% to $2.8 million from $6.3 million in the same quarter last year. Other income was $3.7 million, primarily due to a $4 million gain on debt extinguishment, partially offset by warrant fair value changes. Net income was about $900,000 versus a net loss of $3 million in Q2 2024. Stockholders’ equity increased 126% to $5.9 million from $2.6 million at year-end 2024. Management did not provide formal next-quarter or full-year financial guidance; instead, it said the focus is shifting toward revenue growth, recurring relationships, and launching customers more rapidly across target verticals.

Tyler Luck said his priorities are execution and discipline, commercial acceleration, and product leadership. He emphasized that BEN is trying to convert momentum into scalable revenue while keeping a strong focus on responsible, reliable AI engagement. He also framed the delayed filing as a deliberate effort to strengthen financial controls and reduce costs, not a sign of negative operating performance.

Walid Khiari said the quarter showed progress in stabilizing operations and strengthening the financial position, pointing to the 55.6% reduction in operating expenses to $2.8 million. He highlighted $5,000 of revenue, $3.7 million of other income driven mainly by a $4 million debt extinguishment gain, and about $900,000 of net income. He also noted stockholders’ equity rose to $5.9 million, up 126% from year-end 2024, and said the company is now focused on revenue growth supported by a stronger operating base.

Analysts pressed Tyler Luck on his leadership priorities, the terminated Cataneo acquisition, media’s role in the strategy, the source of the $5,000 in revenue, and the status of past pilots, especially in pharma and healthcare. Management said it is still working with Cataneo as a partner, that media/advertising remains an important pillar alongside automotive, healthcare, and financial services, and that the company is using a buy-build-partner approach in fast-moving media. On revenue, Tyler said the $5,000 came from a pilot with a client in Armenia in hospitality/customer service and should recur, while also saying all pilots are moving forward and the company wants to convert them into measurable, scalable recurring relationships.