Eva Live (GOAI) investor relations material

Executive summary

• Revenue for the six months ended June 30, 2026, was $8.1M, up 3.7% year-over-year, but the company posted a net loss of $10.3M versus net income of $4.6M in the prior year, driven by non-cash charges and higher operating expenses.

• The business shifted from XML syndication to brand marketing and customer acquisition campaigns, with AI-driven marketing services contributing 22% of revenue for the period.

• Cash increased to $2.2M, funded by $7.6M in financing activities, but operating activities used $5.2M in cash; working capital rose to $19.4M, mainly from non-cash assets.

• Management concluded there is substantial doubt about the company's ability to continue as a going concern due to operating losses, negative cash flow, and concentration of working capital in aged receivables.

Financial highlights

• Total revenue: $8.1M for six months ended June 30, 2026, up 3.7% year-over-year.

• Net loss: $10.3M for six months, compared to net income of $4.6M prior year; loss per share of $(0.28).

• Operating loss: $9.97M for six months, versus operating income of $4.6M prior year.

• General and administrative expenses: $11.3M, up from $0.7M, including $7.6M non-cash stock-based compensation.

• Media traffic purchase expense: $6.8M, up 174% year-over-year, representing 84% of revenue.

• Cash and equivalents: $2.2M at June 30, 2026, up from $0.2M at year-end, funded by financing, not operations.

Outlook and guidance

• Management expects media traffic purchase costs as a percentage of revenue to normalize toward historical levels, but cannot conclude this is probable in the near term.

• Plans include continued use of at-the-market equity offerings, collection of aged receivables, and reduction of general and administrative cash expenses by 30–40% in the second half of 2026.

• Substantial doubt remains about the ability to continue as a going concern, as management's plans are not wholly within its control.