Eva Live (GOAI) Registration filing summary

Company overview and business model

• Operates an AI-driven digital marketing platform focused on optimizing ad campaigns and media monetization for agencies and businesses, primarily in North America.

• Revenue is generated mainly through a principal-based model, buying media inventory and reselling to clients, with additional agency-based services planned.

• The Eva XML Platform automates ad buying/selling, integrating with major ad networks and leveraging big data for campaign optimization.

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

• Top three customers account for 88% of receivables, indicating high client concentration risk.

Financial performance and metrics

• For the nine months ended September 30, 2025, revenue was $12.7M, net income $6.4M, and EBITDA $6.5M, a turnaround from a $5.1M net loss in the prior year period.

• Fiscal year 2024 revenue was $9.3M, with a net loss of $3.75M, improved from a $6.6M loss in 2023.

• As of September 30, 2025, cash was $349K, working capital surplus $8M, and accumulated deficit $22M.

• General and administrative expenses decreased as a percentage of revenue due to lower share-based compensation.

• Auditors included a going concern paragraph due to recurring losses and negative cash flows prior to 2025.

Use of proceeds and capital allocation

• Net proceeds of ~$4.5M ($5.2M if over-allotment exercised) will be allocated to acquisitions ($2.5M), R&D ($750K), salaries ($580K), professional services ($420K), and capital expenditures ($250K).

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