Realbotix Reports Financial Results for Fiscal Year 2024

Rhea-AI Summary

Realbotix Corp (XBOTF) reported its FY-2024 financial results, showing significant revenue growth of 378% to $1.3 million compared to $268k in FY-2023. The company holds $9.7 million in digital assets and cash, with total assets increasing by 24% year-over-year.

Despite reporting a net loss of $8.7 million, primarily due to non-cash impairments of $9.3 million, the operating loss from continuing operations improved to $442k from $1.3 million in the previous year. Key developments include the acquisition of Simulacra , launch of a Normal Course Issuer Bid program, and partnership with Compass UOL including a $100,000 AWS subsidy.

The company unveiled its latest humanoid robot, Melody, at CES 2025, generating over 4 billion global media impressions. Realbotix continues to stake approximately 60% of its ETH holdings and sold 250 ETH in December 2024 and January 2025 for working capital.

Positive

• Revenue increased 378% to $1.3 million
• Total assets increased 24% year-over-year
• Operating loss improved from $1.3M to $442k
• Holds $9.7M in digital assets and cash
• Secured $100,000 AWS subsidy
• Received 74% of ETH claims and 37% of SOL claim from Genesis

Negative

• Net loss of $8.7M due to non-cash impairments
• Sold 250 ETH for working capital needs
• $9.3M write-down on IP, technology and domain names
• $60,000 upfront payment required for digital marketing campaign

TORONTO--(BUSINESS WIRE)-- Realbotix Corp. (TSX-V: XBOT) (Frankfurt Stock Exchange: 76M0.F) (OTC: XBOTF) (“Realbotix” or the “Company”), a leading creator of humanoid robots and companionship-based AI, reports its financial results for the fiscal year ended September 30, 2024 (“FY-2024”). All dollar figures are reported in United States dollars (“USD”), unless otherwise stated.

FY-2024 Financial and Operating Highlights

• Total revenue from continuing operations increased to $1.3 million, a 378% increase compared to the fiscal year ending 2023 revenue of $268k from continuing operations. This includes a full quarter of results inclusive of the Simulacra acquisition described below.
• Total assets increased by 24% from the previous year.
• Total digital assets and cash of $9.7 million, or CAD$14.0 million. Digital asset values are as of September 30, 2024. Since the date of the Company's 2024 year-end, the value of the primary cryptocurrency held by Realbotix, ETH, has increased by approximately 31% as of January 24th, 2025.
• Due to various non-cash impairments of $9.3 million, the Company reported total net loss of $8.7 million, compared to total net loss of $10.1 million from prior year. Excluding these non-cash impairments and other non-cash items, the Company’s operating loss from continuing operations was $442k, compared to operating loss of $1.3 million from continuing operations the previous year.
• On April 18, 2024, the Company completed the acquisition of Simulacra Corporation (“Simulacra”).
• On July 9, 2024, shareholders approved the rebranding of the business, with the new consolidated company now operating as “Realbotix Corp”, as well as the addition of Matthew McMullen and Sue Ennis to the Board of Directors.
• On September 26, 2024, Realbotix announced the use of its flagship AI enabled robot, Aria, as an advisor to its management team and board of directors. This role is used occasionally and when requested by management and the board. The information and insight provided by Aria is not dispositive with respect to decisions made by the board of directors, but instead serve as a supplemental information and gathering tool for the benefit of directors. As such, the Company does not have, and will not have, any dependency on Aria.
• On October 16, 2024, the Company announced that the TSXV approved its notice to implement a “Normal Course Issuer Bid” (“NCIB”) to purchase, and subsequently cancel, up to 9,797,779 of its Common Shares at the Company's option, over time. The NCIB commenced on November 1, 2024, and will expire on October 31, 2025, or once the Company has acquired the maximum number of shares allowed, or the Company decides to not make any further repurchases.
• On December 16, 2024, Realbotix announced partnership with Compass UOL, a global leader in digital transformation services, and secured a $100,000 subsidy from Amazon Web Services (AWS), anticipated to be received in Q1-2025, to complete the next generation of its robotic controller and AI.
• On December 17, 2024, Realbotix announced the launch of its new customer-focused website, www.realbotix.com. This site is designed to provide customers with product details, costs, and ordering information, while www.realbotix.ai will continue to serve as the hub for investors and corporate news.
• On January 7, 2025, Realbotix unveiled its latest humanoid robot, Melody, at the 2025 Consumer Electronics Show (“CES”). Melody is an open-source robot designed with upgraded features to improve functionality, adaptability, and user experience. By incorporating advanced motor technology, Melody enhances movement fluidity, modularity, and interaction, making her a versatile option for a variety of applications.
• Realbotix’s presence at CES 2025 generated significant media attention, with over 4 billion global media impressions recorded to date and over 1,000 articles including from outlets such as Forbes, CBS, CNET and Barstool Sports. The coverage reflects growing global interest in the company’s innovative approach to robotics and AI solutions.
• Through the course of 2024 and into 2025, the Company has received from Genesis approximately $927,300 and 216.6 ETH, representing 74% of our ETH claims and 37% of our SOL claim.

“Since our last year-end in September 2023, we have expanded into AI and Robotics,” said Andrew Kiguel, CEO of Realbotix. “As part of this change and completing this audit, management had different views than our auditors with respect to a $9.3 million write-down with respect to the value around our IP, technology and certain assets such as our domain names the prior year. Management believes that there is substantial value in the business, technology and patents that were not recognized.”

Robotics and AI

The company continued to make advancements in the development of its robots and proprietary AI technology. This includes patents and proprietary technology around the robotic modularity system, vision systems and synthetic skin technologies.

Cryptocurrency Treasury Strategy

Realbotix remains optimistic about the cryptocurrency market. While the company continues to stake approximately 60% of its owned ETH, the other approximately 40% of its ETH holdings are unstaked to allow for opportunistic selling in anticipation of a further bullish pricing environment. In December 2024 and January 2025, Realbotix sold 250 ETH for working capital purposes.

Domain Name Sales

Management plans to be more assertive in 2025 with respect to selling certain domain names, including Tokens.com. The Tokens.com domain is currently listed at US$6 million. However, management acknowledges that there can be no assurance the domain will sell for the listed price. Management notes, the domain is not valued on its balance sheet and any sales would be incremental to the balance sheet asset values.

In addition, on January 22, 2025, the Company entered into an agreement with Machai Capital Inc. (“Machai”), pursuant to which Machai will provide a digital marketing campaign. The term of the Machai agreement is on a month-to-month basis with an initial payment of $60,000 plus applicable taxes, to be paid upfront. Under the Machai agreement, Machai will execute a comprehensive digital media marketing campaign for the Company commencing in February 2025, including branding and content creation, data optimization services including search engine optimization, search engine marketing, lead generation, digital marketing, social media marketing, e-mail marketing, and brand marketing.

A complete financial reporting package, including the Audited Consolidated Financial Statements and Management’s Discussion & Analysis, is available on the SEDAR+ website (www.sedarplus.ca).

An investor call has been scheduled to discuss the Company’s FY-2024 financial results, hosted by CEO Andrew Kiguel, starting at 1:00 pm ET on January 29, 2025.

Conference Call Details:
Date: January 29, 2025
Time: 1:00 pm ET
Zoom Webinar Registration:
https://us06web.zoom.us/webinar/register/WN_idBCzhIFSmSPujEDbeQRPA

To join the webinar, register using the link provided above. Upon registration, a Zoom link will be emailed to the registered email address. The webinar will be available via computer, tablet, and smartphone devices. In addition, a dial-in phone number will be provided in the email upon registration. Callers dialing in using a telephone will automatically be placed in a listen-only mode. The question period will not be available to dial-in callers.

About Realbotix

Transcending the barrier between man and machine, Realbotix creates customizable, full-bodied, humanoids with AI integration that improve the human experience through connection, learning and play. Manufactured in the USA, Realbotix has a reputation for having the highest quality humanoid robots and the most realistic silicone skin technology.

Realbotix sells humanoid products with embedded AI and vision systems that enable human-like social interactions and intimate connections with humans. Our integration of hardware and AI software results in the most human looking full-sized robots on this planet. We achieve this through patented technologies that deliver human-like appearance and movements. This versatility makes our robots and their personalities customizable and programmable to suit a wide variety of use cases.

Visit Realbotix.AI to learn more.

Keep up-to-date on Realbotix.AI developments and join our online communities on Twitter, LinkedIn, and YouTube.

Follow Aria, our humanoid robot, on Instagram and TikTok.

Forward-Looking Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250128331813/en/

Realbotix Corp.



Andrew Kiguel, CEO

Email: contact@realbotix.ai



Jennifer Karkula, Head of Communications

Email: contact@realbotix.ai

Telephone: 647-578-7490

Source: Realbotix Corp.

FAQ

What was Realbotix (XBOTF) revenue growth in FY-2024?

Realbotix reported revenue growth of 378% in FY-2024, reaching $1.3 million compared to $268k in FY-2023.

How much did Realbotix (XBOTF) lose in FY-2024?

Realbotix reported a net loss of $8.7 million in FY-2024, primarily due to non-cash impairments of $9.3 million.

What is Realbotix's (XBOTF) cryptocurrency strategy for 2025?

Realbotix stakes 60% of its ETH holdings while keeping 40% unstaked for opportunistic selling in bullish market conditions.

How many shares can Realbotix (XBOTF) buy back under its NCIB program?

Realbotix can purchase and cancel up to 9,797,779 Common Shares under its NCIB program between November 1, 2024, and October 31, 2025.

What was the impact of Realbotix's (XBOTF) CES 2025 appearance?

Realbotix's CES 2025 appearance generated over 4 billion global media impressions and more than 1,000 articles from major media outlets.