Realbotix Reports Financial Results for Q3-2024

Rhea-AI Summary

Realbotix Corp. (TSX-V: XBOT | OTC: XBOTF), a leading creator of humanoid robots and AI, reported its Q3-2024 financial results. Key highlights include:

- Total assets increased 138% to $23.5 million
- Revenue grew 143% to $313k for Q3 and 40% to $818k for the nine months
- Net income of $3.4 million for nine months, compared to $879k loss last year
- Q3 net loss of $2.6 million, up from $902k loss in Q3-2023
- Completed acquisition of Simulacra
- Received 189 Ethereum from Genesis Global Capital

CEO Andrew Kiguel stated the company's focus is to grow in the AI-enabled humanoid robot market. An investor call is scheduled for August 28, 2024, at 1:00 pm ET to discuss the results.

Positive

• Total assets increased 138% year-over-year to $23.5 million
• Q3 revenue grew 143% year-over-year to $313,000
• Nine-month revenue increased 40% year-over-year to $818,000
• Net income of $3.4 million for the nine months, compared to $879,000 loss last year
• Completed acquisition of Simulacra , expanding market presence
• Received 189 Ethereum from Genesis Global Capital, with more distributions expected

Negative

• Q3 net loss increased to $2.6 million, compared to $902,000 loss in Q3-2023
• Q3 loss primarily due to non-cash loss on revaluation of digital assets

TORONTO--(BUSINESS WIRE)-- Realbotix Corp. (TSX-V: XBOT | Frankfurt Stock Exchange: 76M | OTC: XBOTF) (d/b/a “Realbotix” or the “Company”), a leading creator of humanoid robots and companionship-based AI, reports its financial results for three and nine months ended June 30, 2024 (“Q3-2024”). All dollar figures are in United States dollars (“USD”), unless otherwise stated.

Q3-2024 Financial and Operating Highlights

• 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”.
• Total assets as of June 30, 2024, of $23.5 million, an increase of 138% compared to September 30, 2023 total assets of $9.9 million, due to the assets acquired from Simulacra and the appreciation of certain digital assets.
• Revenue of $313k and $818k, an increase of 143% and 40%, respectively, for the three and nine months ended June 30, 2024, compared to revenue of $128k and $584k, respectively, for the three and nine months ended June 30, 2023 (“Q3-2023”);
• Net income of $3.4 million for the nine months ended June 30, 2024, compared to net loss of $879k for the nine months ended June 30, 2023, due to a non-cash gain on revaluation of digital assets and several corporate initiatives to reduce operating expenses.
• Net loss of $2.6 million for the three months ended June 30, 2024, compared to net loss of $902k for the three months ended June 30, 2023, mostly due to a non-cash loss on revaluation of digital assets.
• On August 2, 2024, the Company received 189 Ethereum from Genesis Global Capital (“Genesis”) as part of Genesis’ restructuring process and expects to receive further distributions from Genesis throughout the remainder of 2024.

“In 2024, the Company underwent substantial changes in the interest of enhancing shareholder value. Our focus going forward will be to grow our presence in the AI-enabled humanoid robot market,” said Andrew Kiguel, CEO of Realbotix.

A complete financial reporting package, including the Unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis, is available on our corporate website (www.realbotix.ai), and the SEDAR+ website (www.sedarplus.ca).

An investor call has been scheduled to discuss the Company’s Q3-2024 financial results, hosted by CEO Andrew Kiguel, starting at 1:00 pm ET on August 28, 2024.

Conference Call Details:
Date: August 28, 2024
Time: 1:00 pm ET
Zoom Webinar Registration:
https://us06web.zoom.us/webinar/register/WN_TjbW3o4WTr6xRrLkISqc-Q

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, human-like robots with AI integration that improve the human experience through learning, connection and play. Manufactured in Nevada, USA, Realbotix has built a reputation for having the highest quality humanoid robots and the most realistic silicone skin technology on the market. Our target addressable markets are massive, most of them in the tens or hundreds of billions USD.

Our mission is to create robots and AI that are indistinguishable from humans in appearance and social interaction. Realbotix replicates the physical and emotional aspects of being human, in hardware and software. 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 digital avatar 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/20240828614192/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's (XBOTF) revenue growth in Q3-2024?

Realbotix's revenue grew 143% year-over-year to $313,000 in Q3-2024.

How did Realbotix's (XBOTF) total assets change in Q3-2024?

Realbotix's total assets increased 138% to $23.5 million as of June 30, 2024, compared to $9.9 million on September 30, 2023.

What acquisition did Realbotix (XBOTF) complete in Q3-2024?

Realbotix completed the acquisition of Simulacra on April 18, 2024.

When is Realbotix's (XBOTF) Q3-2024 earnings call scheduled?

Realbotix's Q3-2024 earnings call is scheduled for August 28, 2024, at 1:00 pm ET.