Datavault AI Q2 Misses Estimates, Stock Drops 12% Premarket
DVLT sits 18% above its 52-week low of $0.251 on elevated volume (3.9× avg).
Summary
Datavault AI reported Q2 revenue of $6.72 million, up 287% year-over-year but far below the $30.25 million Wall Street estimate. EPS loss of 12 cents missed the 3-cent loss estimate, and GAAP net loss widened to $88.03 million from $37.12 million. The quarter included an $8.09 million loss on crypto assets and a $56.37 million impairment of investments. Cash fell to $1.4 million. The company also announced a $25 million convertible note with Streeterville Capital at a $1.55 conversion price. Shares dropped 12.15% in premarket trading. This follows the CyberCatch acquisition agreement and the Q2 earnings 8-K filed earlier today, but adds the specific miss details and market reaction.
At the time of this announcement, DVLT was trading at $0.30 on NASDAQ in the Technology sector, with a market capitalization of approximately $252.7M. The 52-week trading range was $0.25 to $4.10. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.