Realbotix (XBOT.F) Q3 2024 earnings summary

Executive summary

• Completed acquisition of Simulacra Corporation in April 2024 and rebranded as Realbotix Corp following shareholder approval in July 2024.

• Operations progressing well post-acquisition, with positive integration and new business opportunities emerging.

• Management is optimistic about future growth, focusing on robotics, AI, and transitioning away from crypto.

• Focus remains on growth in the AI-enabled humanoid robot market.

Financial highlights

• Total assets reached $23.5M as of June 30, 2024, up 138% from $9.9M in September 2023, driven by Simulacra acquisition and digital asset appreciation.

• Net income for the nine months ended June 30, 2024, was $3.4M, compared to a net loss in the prior year, mainly due to a non-cash gain on digital asset revaluation and cost reductions.

• Q3-2024 revenue was $313k, up 143% year-over-year; nine-month revenue was $818k, up 40% year-over-year.

• Q3-2024 net loss was $2.6M, compared to $902k loss in Q3-2023, primarily due to a non-cash loss on digital asset revaluation.

• Revenue impact from the Realbotix acquisition was minimal in Q3, with expectations for higher revenue in the current quarter.

Outlook and guidance

• Projected revenue for the next quarter (July–September) is estimated between $1M and $2M, though not formal guidance.

• Fiscal year expected to deliver the highest revenue in company history.

• Management anticipates significant growth as marketing and PR efforts ramp up post-Labor Day.