LAS VEGAS--(BUSINESS WIRE)--November 13, 2025--
Dot Ai (Nasdaq: DAIC) ("Dot Ai" or the "Company"), an IoT and AI-based SaaS company at the forefront of Asset Intelligence technology, today announced its financial results for the third quarter 2025.
"In the third quarter, we built and shipped our initial hardware platform orders, validating market demand for our innovative solutions and demonstrating momentum in the business," said Ed Nabrotzky, CEO of Dot Ai. "Looking to the balance of 2025 and into next year, we have the right team and strategy in place to accelerate pipeline conversion and drive material revenue contribution, delivering on our commitment to revolutionize asset intelligence and transform the modern supply chain."
Recent Business and Financial Highlights
-- Third quarter revenue of approximately $800k represents initial order
fulfillment and production ramp at our Puerto Rico facility.
-- In November, Dot Ai announced leadership additions including Robyn
D'Elia, an experienced former public company CFO to enhance our finance
function on a fractional basis, and Miles Bradley, our new Director of
Channels, with primary responsibility for expanding the company's partner
ecosystem.
-- In October, Dot Ai completed development of a new version of our SaaS
architecture, Dot Matrix 3.0, which includes a multi-tenant architecture
designed to deliver in-process visibility and secure asset management
across a wide range of industries and environments, allowing distributors,
integrators, and operators to deploy and manage complex, multi-site
programs from a single platform. This platform will continue under tests
throughout the fourth quarter.
-- In September, Dot Ai obtained certification of its cybersecurity system
compliant with SOC 2 Type 1 standards.
-- In September, Dot Ai announced new hardware platform orders and an
expansion of its Puerto Rico manufacturing operations, reflecting the
broad applicability of Dot Ai's Asset Intelligence platform, and its
commitment to advancing high-tech manufacturing in Puerto Rico.
-- In August, Dot Ai announced its first international distribution
partnership with CanTech Group in Australia, who will serve as Dot Ai's
Australia-region reseller and installation partner for the company's SaaS
platform and proprietary tracking technologies.
-- In August, Dot Ai welcomed two new directors, Janice Bryant Howroyd and
Walter Skowronski, executives with proven track records scaling public
organizations and navigating complex industries.
-- In July, Dot Ai commenced production at its Barceloneta, Puerto Rico
manufacturing facility, with the new facility intended for full
production of Dot Ai's Zero Infrastructure Mesh Bridge (ZiM Bridge) and
smart asset tags.
Conference Call and Webcast Information
Dot Ai will host a conference call today, November 13, 2025, to discuss its results at 5 p.m. Eastern Time. A live webcast of the conference call can be accessed here or dial-in using the below number. A webcast replay of the call will also be available.
Telephone dial-in: 1-877-407-0789 or 1-201-689-8562
About Dot Ai
At the heart of the technological revolution in asset management and security lies Dot Ai, a trailblazing SaaS service that is defining Asset Intelligence for smart supply chain operations. By harnessing the power of real-time IoT tracking technology and AI-enhanced analytics, Dot Ai stands at the forefront of innovation, offering patented solutions that are not just advanced but transformative. Through relentless research and development, Dot Ai has engineered a suite of technologies that empower organizations to not only streamline their logistics and supply chain processes but also bolster operational security to unprecedented levels. Leveraging state-of-the-art AI engines, cutting-edge 5G RF and BLE technology, and seamless API integrations, Dot Ai transcends traditional boundaries, offering real-time asset visibility and predictive analytics that integrate effortlessly with existing infrastructure. This is not just technology; it's a vision for a more secure, efficient, and connected world. Discover more about how Dot Ai is leading the charge in Asset Intelligence by visiting https://daic.ai.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, including statements regarding anticipated production capacity increases, facility expansion plans, expected order fulfillment, and future business growth. All forward-looking statements are based on Dot Ai's current expectations and beliefs concerning future developments and their potential effects on the company. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and Dot Ai assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CID HOLDCO, INC. AND SUBSIDIARIES
BALANCE SHEETS
September 30, 2025 December 31, 2024
-------------------- ---------------------
(Unaudited)
ASSETS
Current assets:
Cash $ 1,418,834 $ 721,032
Accounts receivable 915,027 50,264
Inventory 468,102 65,248
Prepaid expenses and other
current assets 744,194 167,551
--------------- --------------
Total current assets 3,546,157 1,004,095
--------------- --------------
Noncurrent assets:
Property and equipment, net 478,171 11,286
Operating lease
right-of-use assets (ROU) 735,871 307,892
Capitalized software
development costs 2,660,194 1,761,396
Long-term assets 25,713 12,103
--------------- --------------
Total long-term assets 3,899,949 2,092,677
--------------- --------------
Total assets $ 7,446,106 $ 3,096,772
=============== ==============
LIABILITIES AND SHAREHOLDERS'
EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 933,306 $ 770,276
Accrued expenses 1,119,808 24,219
Accrued compensation 75,228 246,720
Accrued taxes 3,913,668 -
Deferred revenue, current
portion 2,772,178 1,142,643
Operating lease
liabilities, current
portion 135,976 36,225
--------------- --------------
Total current
liabilities 8,950,164 2,220,083
--------------- --------------
Long-term liabilities:
SAFE notes, net - 23,334,626
Deferred revenue, net of
current portion - 1,570,572
Operating lease
liabilities, net of
current portion 614,126 265,413
--------------- --------------
Total long-term
liabilities 614,126 25,170,611
--------------- --------------
Total liabilities 9,564,290 27,390,694
--------------- --------------
Shareholders' equity
(deficit)
Common stock, $0.0001 par
value; 300,000,000 shares
authorized; 27,743,322 and
12,210,718 shares issued
and outstanding as of
September 30, 2025 and
December 31, 2024,
respectively 2,774 1,221
Additional paid-in capital 56,972,621 438,120
Accumulated deficit (59,093,579) (24,733,263)
--------------- --------------
Total shareholders' equity
(deficit) (2,118,184) (24,293,922)
--------------- --------------
Total liabilities and
shareholders' equity
(deficit) $ 7,446,106 $ 3,096,772
=============== ==============
CID HOLDCO, INC. AND SUBSIDIARIES
STATEMENTS OF OPERATIONS (UNAUDITED)
For the three months ended For the nine months ended
September 30, September 30,
----------------------------- ---------------------------------
2025 2024 2025 2024
--------------- ------------ ---------------- ---------------
Revenue $ 778,482 $ 81,636 $ 1,257,813 $ 183,631
Cost of goods
sold 488,286 7,997 572,558 18,006
---------- ---------- ----------- -----------
Gross profit 290,196 73,639 685,255 165,625
---------- ---------- ----------- -----------
Operating
expenses:
General and
administrative 2,742,753 506,886 4,184,688 1,064,461
Research and
development 397,135 186,678 972,640 459,991
Sales and
marketing 1,111,895 638,584 2,564,891 1,763,170
Acquisition and
integration 243,230 635,459 1,154,857 1,501,261
Depreciation
and
amortization 11,738 - 16,839 -
---------- ---------- ----------- -----------
Total
operating
expenses 4,506,751 1,967,607 8,893,915 4,788,883
---------- ---------- ----------- -----------
Loss from
operations (4,216,555) (1,893,968) (8,208,660) (4,623,258)
---------- ---------- ----------- -----------
Other expenses:
Interest
expense - - (328,763) -
Change in fair
value of SAFE
notes - (764,446) (17,368,415) (14,227,156)
Transaction
costs - - (2,726,183) -
Loss on
extinguishment
of debt - - (5,728,295) -
---------- ---------- ----------- -----------
Total other
expenses - (764,446) (26,151,656) (14,227,156)
---------- ---------- ----------- -----------
Loss before
income taxes (4,216,555) (2,658,414) (34,360,316) (18,850,414)
---------- ---------- ----------- -----------
Provision for
income taxes - - - -
---------- ---------- ----------- -----------
Net loss $(4,216,555) $(2,658,414) $(34,360,316) $(18,850,414)
========== ========== =========== ===========
Net loss per
share
Basic and
diluted $ (0.15) $ (0.22) $ (1.89) $ (1.56)
Weighted average
number of
shares
Basic and
diluted 27,645,033 12,210,718 18,146,608 12,095,288
CID HOLDCO, INC. AND SUBSIDIARIES
STATEMENTS OF CASH FLOWS (UNAUDITED)
For the nine months ended September 30,
-----------------------------------------------
2025 2024
------------------------- --------------------
OPERATING ACTIVITIES
Net loss $ (34,360,316) $ (18,850,414)
Adjustments to reconcile
net loss to net cash
used in operating
activities:
Depreciation and
amortization 16,839 --
Change in fair value
of SAFE notes 17,368,415 14,227,156
Transaction costs
paid in shares 156,869 --
Share-based
compensation
expense 28,862 187,001
Noncash operating
lease expense 64,857 11,890
Loss on debt
extinguishment 5,728,295 --
Reverse
recapitaliation
transaction (4,739,169) --
Fair value of shares
issued as commitment
fee 350,000 --
Change in operating
assets and liabilities:
Accounts receivable (864,763) (92,252)
Prepaid and other
assets (572,655) 107,218
Inventory (402,854) (134,448)
Accounts payable 163,030 693,309
Accrued expense 1,095,589 6,572
Accrued compensation (171,492) (7,872)
Accrued interest 280,000 --
Accrued taxes 3,913,668 --
Operating lease
liabilities (61,968) 2,611
Short-term debt, net 3,750,000 --
Deferred revenue 58,963 750,000
----------------- ----------------
Net cash used in
operating
activities (8,197,830) (3,099,229)
----------------- ----------------
INVESTING ACTIVITIES
Purchase of property
and equipment (483,724) --
Capitalized software
development costs (898,798) (579,327)
----------------- ----------------
Net cash used in
investing
activities (1,382,522) (579,327)
----------------- ----------------
FINANCING ACTIVITIES
Proceeds from
issuance of bridge
loans 500,000 --
Proceeds from
issuance of SAFE
notes 23,752 3,834,500
Repayment of bridge
loans (1,660,545) --
Proceeds from PIPE
investments 10,837,643 --
Purchase of common
stock (5,000,000) --
Proceeds from Trust
account 5,577,304 --
----------------- ----------------
Net cash provided
by financing
activities 10,278,154 3,834,500
----------------- ----------------
Net increase in cash
during period 697,802 155,944
Cash, beginning of period 721,032 605,760
----------------- ----------------
Cash, end of period $ 1,418,834 $ 761,704
================= ================
SUPPLEMENTAL DISCLOSURE
OF NON-CASH ACTIVITIES
----------------- ----------------
ROU asset obtained in
exchange for lease
liability $ 482,227 $ 324,426
----------------- ----------------
Conversion of SAFE notes
to equity $ 40,726,793 $ -
----------------- ----------------
Conversion of short-term
debt to equity $ 2,456,500 $ -
----------------- ----------------
Cash paid for interest $ 39,462 $ -
================= ================
View source version on businesswire.com: https://www.businesswire.com/news/home/20251113397360/en/
CONTACT: Dot Ai Contacts
Investors and Media:
ICR, Inc.
dotai@icrinc.com
(END) Dow Jones Newswires
November 13, 2025 16:30 ET (21:30 GMT)