v3.26.1
Nature of Business and Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Summarized Financial Information Summarized financial information of AIXC included in the Company’s Unaudited Condensed Consolidated Financial Statements as of June 30, 2026 and Unaudited Condensed Statement of operations for the three and six months ended June 30, 2026 is presented below.
AIXC
Condensed Balance Sheet (Unaudited)
June 30, 2026
(in thousands)
Cash and cash equivalents .$577 
Digital assets .5,213
Other current assets564
Total current assets .6,354
Intangible assets and other assets .696
Total assets$7,050 
Accounts payable and accrued liabilities$1,794 
Warrant liabilities and convertible debt67
Total liabilities1,861
Total stockholders’ equity5,189
Total liabilities and stockholders’ equity$7,050 

AIXC
Condensed Statement of Operations (Unaudited)
Six Months Ended June 30, 2026
(in thousands)
Operating expenses$7,476 
Other expense, net2,791 
Net loss$10,267 
AIXC
Condensed Statement of Operations (Unaudited)
Three Months Ended June 30, 2026
(in thousands)
Operating expenses$2,960 
Other expense, net1,228 
Net loss$4,188 
AIXC
Condensed Statement of Cash Flows (Unaudited)
Six Months Ended June 30, 2026
(in thousands)
Net cash used in operating activities$(7,940)
Net cash used in investing activities$(10,683)
Net cash used in financing activities$(132)
Schedule of Crypto Asset
The table below summarizes the units held, cost basis, and fair value of the Company’s digital assets as of June 30, 2026 (amounts shown in thousands, except for units held, which are presented in whole numbers):
Digital Assets
Units Held Cost BasisFair Value
Cardano ADA (ADA)214,323$134 $31 
Native BNB (BSC)1,3081,356 714 
Bitcoin (BTC)464,943 2,703 
Ethereum (ETH)6162,307 967 
ChainLink (LINK)19,404339 139 
Solana (SOL)6,6591,188 489 
Tron (TRX)531,334164 168 
USD Tether (USDT)2,0872 2 
Ripple (XRP)1— — 
$10,433 $5,213 
The following table summarizes digital asset activity for the period indicated, including purchases, sales, net gains and losses recognized, other activity, and the fair value of digital assets held as of June 30, 2026 (amounts shown in thousands).
Balance
Balance as of December 31, 2025$10,250 
   Purchases338 
   Sales(2,108)
Net (loss) gain on digital assets(2,930)
Payments made(337)
Balance as of June 30, 2026$5,213 
Schedule of Property and Equipment, Net
Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets and for building improvements, over the term of the lease, if shorter.
Useful Life
(in years)
Buildings39
Building improvements15
Computer hardware5
Tooling, machinery, and equipment
5 to 10
Vehicles5
Lease vehicles7
Computer software3
Leasehold improvementsShorter of asset useful life or term of the lease
Property, plant, and equipment, net, consists of the following as of:
(in thousands)
June 30, 2026December 31, 2025
Land, buildings and building improvements$77,803 $78,218 
Computer hardware2,618 2,603 
Tooling, machinery and equipment120,631 120,792 
Vehicles699 699 
Lease vehicles1,390 1,390 
Software4,339 4,339 
Construction in process9,429 8,500 
216,909 216,541 
Less: Accumulated depreciation(76,883)(61,238)
$140,026 $155,303 
Schedule of Disaggregation of Revenue
The following table disaggregates our revenue by major source:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
AIEV
Automotive sales$(29)$— $179 $— 
Automotive leasing - Sales type— — — 265
Automotive leasing - Operating type12 5428 105
Robotics$853 — $1,141 — 

$836 $54 $1,348 $370 
Schedule of Standard Product Warranty Accrual
The Company also provides an assurance-type warranty on robotics products sold. This warranty does not create a performance obligation separate from the robotics product. Estimated robotics warranty costs are accrued when the related revenue is recognized and are recorded in cost of goods sold with a corresponding warranty liability. Because Company-specific robotics warranty history is limited, the estimate is based on available actual warranty experience and relevant industry benchmark data. The Company reassesses the warranty accrual at each reporting date as additional claims data become available
Six Months Ended June 30,
(in thousands)20262025
Accrued warranty- beginning of period$376 $545 
Provision for warranty58 (13)
Warranty costs incurred(14)(96)
Accrued warranty- end of period$420 $436