v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents revenues, expenditures and loss from operations data of the Company and its reportable segments for the three and six months ended June 30, 2026, and 2025. In 2025, the Company operated as a single segment (AIEV).
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
(in thousands)AIEV
Robotics (1)
AIXCConsolidatedConsolidated
Revenue$(17)$853 $— $836 $54 
Cost of revenues10,894 644 — 11,538 26,912 
Gross (loss) profit(10,911)209 — (10,702)(26,858)
Operating expenses
Research and development4,137 — 6 4,143 5,004 
Sales and marketing1,974 — 86 2,060 1,873 
General and administrative11,437 — 2,868 14,305 14,097 
Loss on disposal of property, plant, and equipment(12)— — (12)276 
Asset impairment on long-lived assets— — — — — 
Impairment of intangible assets, including goodwill3,629 — — 3,629 — 
Credit loss expense - short-term note receivable— — — — — 
Total operating expenses21,165 — 2,960 24,125 21,250 
(Loss) income from operations$(32,076)$209 $(2,960)$(34,827)$(48,108)
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
(in thousands)AIEV
Robotics (1)
AIXCConsolidatedConsolidated
Revenue$207 $1,141 $— $1,348 $370 
Cost of revenues22,640 788 — 23,428 48,293 
Gross (loss) profit(22,433)353 — (22,080)(47,923)
Operating expenses
Research and development11,123 — 10 11,133 11,423 
Settlement on accrued research and development expenses— — — — — 
Sales and marketing6,952 — 724 7,676 4,502 
General and administrative17,084 — 6,416 23,500 27,771 
Loss on disposal of property, plant, and equipment316 — — 316 320 
Asset impairment on long-lived assets— — 183 183 — 
Impairment of intangible assets, including goodwill5,701 — — 5,701 — 
Credit loss expense - short-term note receivable— — 143 143 — 
Total operating expenses41,176 — 7,476 48,652 44,016 
(Loss) income from operations$(63,609)$353 $(7,476)$(70,732)$(91,939)
(1) The Robotics segment is evaluated by the CODM using gross profit as an additional performance measure. General and Administrative, Research and Development, and Sales and Marketing expenses are not allocated to the Robotics segment, as these costs are managed on a consolidated basis and are primarily reflected within the AIEV segment.
Additional segment disclosures are as follows:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
(in thousands)AIEVRoboticsAIXCConsolidatedConsolidated
Depreciation and amortization$8,025 $— $— $8,025 $19,781 
Interest expense$(2,348)$— $— $(2,348)$(812)
Net loss on digital assets
$— $— $(984)$(984)$— 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
(in thousands)AIEVRoboticsAIXCConsolidatedConsolidated
Depreciation and amortization$16,106 $— $— $16,106 $37,308 
Interest expense$(4,826)$— $— $(4,826)$(3,114)
Net loss on digital assets$— $— $(2,930)$(2,930)$— 
As of
June 30, 2026		As of
December 31, 2025
(in thousands)AIEVRoboticsAIXCConsolidatedConsolidated
Net assets$(4,130)$353 $5,189 $1,412 $7,759