Datavault AI Inc.

DataVault AI reported Q2 revenue of $6.7 million, primarily from the Acoustics Group, with additional licensing revenue from the medical side of Data Science. Management did not give EPS or gross margin figures on the call. The company reiterated its full-year 2026 revenue target of $200 million and said the exchanges are expected to go live in mid-September, which should produce a bump in Q3 and a very significant bump in Q4. Brett Moyer said the company had about 855 million shares outstanding currently and expected to end the quarter with about 1 billion shares outstanding. He also said DataVault had about $200 million of liquidity coming in this year from BTC sales, receivables tied to licenses to Vivasor and Scilex, a $120 million rev-share deal with Scilex, and financing closed that morning.

Nathaniel Bradley framed the quarter as a major step toward a broader platform centered on quantum readiness, cybersecurity, data monetization, and exchange infrastructure. He said the company is building around a proprietary AI platform inside its Quantum Private Network, with Available Networks, Fiserv, CLEAR, IBM, and other partners supporting the rollout. His tone was highly confident and expansive, repeatedly describing DataVault as a leader in tokenization and real-world asset infrastructure and saying the business is positioned to benefit from regulatory clarity and upcoming launches.

Brett Moyer focused on the reported financials and balance sheet, saying Q2 revenue was $6.7 million and that the company raised $60 million during the quarter. He said signed tokenization contracts represent $2.5 billion of token issuance demand and $213 million of fees, including $61 million of technology fees that would be 100% margin business for DataVault. Moyer also said the company expects about $200 million of liquidity this year and expects share count growth to slow after recent acquisitions, with roughly 1 billion shares outstanding projected by quarter-end.

Analysts asked whether the exchanges are technically ready and whether the mid-September launch depends on the CLARITY Act; management said the only major remaining integration is with Fiserv and insisted the system is not dependent on CLARITY, though that bill would expand what can be listed. Questions also focused on Available Networks buildout, and management said the network is already operational in Philadelphia, New York, and Washington, D.C., with Atlanta staging by month-end and more sites under construction. Investors asked about dilution and the sub-$1 stock price, and Bradley said the company will not do a reverse split, citing an automatic shareholder equity exemption through February. On Helmex, Moyer said the company has partially funded the first $25 million tranche and is still discussing timing for the remaining $20 million.