Financial Performance - Net sales for the nine months ended December 31, 2025, were $3.0 million, a 41% increase from $2.1 million in the prior year period[3] - Gross margin for the nine months ended December 31, 2025, increased to 29% from (17%) in the prior year period[3] - Net sales for the three months ended December 31, 2025, were $963,817, a decrease of 24% from $1,264,122 in the same period of 2024[31] - Gross profit for the nine months ended December 31, 2025, was $873,047, compared to a gross loss of $(355,603) in the same period of 2024[31] - The net loss for the nine months ended December 31, 2025, was $(6.89) million, an improvement from a net loss of $(12.02) million in the same period of 2024[32] Operating Expenses - Total operating expenses decreased by $5.1 million, or 45%, to $6.3 million in the nine months ended December 31, 2025, from $11.4 million in the prior year[3] - Operating expenses for the nine months ended December 31, 2025, totaled $6.29 million, down from $11.36 million in the same period of 2024[31] - Research and development expenses for the nine months ended December 31, 2025, were $624,759, a decrease from $2.01 million in the same period of 2024[31] Cash and Assets - Cash and cash equivalents totaled $1.1 million as of December 31, 2025, compared to $0.5 million as of March 31, 2025[16] - Cash and cash equivalents increased to $1.07 billion as of December 31, 2025, from $477,908 on March 31, 2025[27] - Total assets increased to $6.36 billion as of December 31, 2025, compared to $5.78 billion on March 31, 2025, reflecting a growth of approximately 10%[27] - Total current liabilities rose to $8.74 billion as of December 31, 2025, from $5.91 billion on March 31, 2025, marking an increase of approximately 48%[29] - The company reported a total stockholders' deficit of $(2.95) million as of December 31, 2025, compared to $(794,035) on March 31, 2025[30] Sales and Orders - New orders for Omni One and Omni One Core systems increased 60% in December 2025 compared to December 2024[3] - Omni One Core sales have expanded to major European markets, with initial shipments scheduled between April 13 and April 24, 2026[7] Strategic Initiatives - The company scaled manufacturing capacity to support up to 3,000 units per month, representing approximately $100 million in annual revenue potential[4] - A strategic collaboration with Meta is expected to expand the addressable market to an estimated 6 million active Quest users[6] - The integration of AI-driven technologies into the Virtual Terrain Walk (VTW) system is expected to enhance deployment speed for defense simulations[9] - The company aims to complement consumer sales with high-value enterprise and defense opportunities, including recurring revenues from software licensing[10] Stock Issuance - The company issued preferred stock worth $1.95 million during the nine months ended December 31, 2025, compared to $2.39 million in the same period of 2024[32]
Virtuix(VTIX) - 2026 Q3 - Quarterly Results