Eva Live (GOAI) Registration filing summary

Company overview and business model

• Operates an AI-driven digital marketing and media monetization platform, leveraging big data to optimize ad campaigns and conversion rates.

• Revenue is generated primarily through a principal-based model, buying media inventory and reselling to clients, with a focus on North American advertising agencies and businesses.

• The company’s Eva XML Platform automates ad buying/selling across major networks and manages arbitrage revenue.

• Acquired AdFlare, a leader in header bidding technology, expanding capabilities in programmatic advertising.

• Top three customers account for a significant portion of receivables, indicating high client concentration risk.

Financial performance and metrics

• Revenue for the six months ended June 30, 2025 was $7.8M, up from $4.4M in the prior year period; net income was $4.6M compared to a net loss of $163K.

• Fiscal year 2024 revenue was $9.3M, up from $5.1M in 2023; net loss for 2024 was $3.75M, improved from a $6.6M loss in 2023.

• As of June 30, 2025, cash was $261K, working capital surplus was $6.1M, and accumulated deficit was $23.8M.

• The company’s auditors included a going concern warning due to recurring losses and negative cash flows.

• General and administrative expenses decreased as a percentage of revenue due to operational efficiency.

Use of proceeds and capital allocation

• Net proceeds of approximately $4.5M ($5.2M if over-allotment is exercised) are expected from the IPO.

• Planned allocation: $2.5M for acquisitions, $750K for R&D, $580K for salaries/wages, $420K for professional services, $250K for capital expenditures.

• Management has broad discretion over use of proceeds and may adjust allocations based on business needs.