Corvex (MOVE) Q4 2025 earnings summary

Executive summary

• Completed a merger on March 19, 2026, combining a legacy healthcare business with an AI cloud computing business specializing in GPU-accelerated infrastructure for AI workloads.

• Post-merger, operations are divided into two segments: AI cloud computing and healthcare wearables, with the latter's commercial activities paused due to trademark litigation.

• The financial statements for FY2025 reflect only the legacy healthcare business, not the newly acquired AI cloud computing segment.

Financial highlights

• FY2025 revenue was $0.4 million, down 57% from $1.0 million in FY2024, due to reduced marketing and paused sales of the Wellness Ring.

• Net loss for FY2025 was $18.3 million, an improvement from $23.7 million in FY2024, driven by lower R&D and SG&A expenses.

• Cash and cash equivalents at year-end 2025 were $2.8 million.

• Accumulated deficit as of December 31, 2025, was $166.4 million.

Outlook and guidance

• The company expects to continue incurring losses and will require additional capital to fund operations and growth, especially for the AI cloud computing business.

• Management believes the merger and access to new resources alleviate prior going concern issues, but future capital needs remain significant.