Datavault AI Inc.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
DVLT$0.06+3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
For the nine months ended September 30, 2025 and 2024
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, | ||||||
| · 2025 · 2024 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net loss | | $(79,655) | | $(45,050) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||
| Stock-based compensation | | | 4,390 | | | 1,323 |
| Depreciation and amortization | | | 7,586 | | | 59 |
| Amortization of debt discounts and paid-in-kind interest | | | 1,197 | | | 1,260 |
| Change in fair value of convertible debt | | 19,339 | | — | ||
| Fair value of equity warrants in interest expense | | | 16,657 | | | — |
| Accreted interest on convertible notes | | | 280 | | | — |
| Change in fair value of crypto currency | | | (310) | | | — |
| Change in fair value of warrant liability | | | (19) | | | 29,120 |
| Debt extinguishment | | | 5,804 | | | — |
| NYIAX loss | | | 595 | | | — |
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | (160) | | 117 | ||
| Unbilled accounts receivable | | | (342) | | | — |
| Inventories | | 787 | | 877 | ||
| Prepaid expenses and other current assets | | (3,346) | | (215) | ||
| Other assets | | | (160) | | | 72 |
| Accounts payable | | 1,876 | | (842) | ||
| Accrued liabilities | | 2,328 | | 59 | ||
| Other liabilities | | (51) | | (56) | ||
| Net cash used in operating activities | | (23,204) | | (13,276) | ||
| | | | | | | |
| Cash flows from investing activities: | | | ||||
| Issuance of note receivable | | | — | | | (323) |
| Purchases of property and equipment | | (52) | | (28) | ||
| Acquisition of business, net | | | (6,500) | | | — |
| Net cash used in investing activities | | (6,552) | | (351) | ||
| | | | | | | |
| Cash flows from financing activities: | | | ||||
| Proceeds from issuance of convertible notes, net of issuance costs | | | 26,093 | | | — |
| Proceeds from issuance of common stock, net of issuance costs | | | 4,763 | | | — |
| Proceeds from issuance of common stock in connection with warrant exercise | | | — | | | 3,198 |
| Proceeds from issuance of common stock, prefunded warrants and warrants, net of issuance costs | | | — | | | 19,558 |
| Proceeds from issuance of short-term loan, net of issuance costs | | | — | | | 600 |
| Proceeds from exercise of Series B preferred stock warrants | | | — | | | 714 |
| Repurchase of Series B preferred stock warrants | | | — | | | (6,266) |
| Repayment of short-term loan | | | — | | | (667) |
| Repurchase of common stock warrants | | | (622) | | | — |
| Repayment of notes principal | | | (2,125) | | | — |
| Net cash provided by financing activities | | 28,109 | | 17,137 | ||
| | | | | | | |
| Net (decrease) increase in cash and cash equivalents | | (1,647) | | 3,510 | ||
| Cash and cash equivalents as of beginning of period | | 3,330 | | 411 | ||
| Cash and cash equivalents as of end of period | | $1,683 | | $3,921 | ||
| | | | | | | |
| | | | | | | |
| Noncash Investing and Financing Activities: | | | ||||
| Conversion of liability warrants to equity warrants | | | — | | | 41,851 |
| Issuance of warrant liability in connection with financing | | | — | | | 8,701 |
| Repurchase of Series B preferred stock | | | — | | | 5,842 |
| Repurchase of Series B preferred stock warrants | | | — | | | 824 |
| Cashless exercise of warrants | | | — | | | 587 |
| Issuance of common stock to vendors | | | — | | | 600 |
| Warrant exercise in connection with loan settlement | | | — | | | 333 |
| Issuance of common stock in connection with Series B preferred stock | | | — | | | 325 |
| Capitalized acquisition costs | | | 117 | | | — |
| Convertible notes issued for CSI acquisition | | | 9,718 | | | — |
| Non cash common shares issued in CSI acquisition | | | 10,282 | | | — |
| Shares issued for Scilex investment in exchange for Bitcoin | | | 7,595 | | | |
| Deposit paid in December 2024 used in CSI acquisition closing | | | 1,000 | | | — |
| Shares payable to NYIAX in share exchange agreement | | | 1,088 | | | — |
| Reclass liability warrant to equity | | | 15 | | | — |
| Issuance of common stock from non-cash conversion of convertible notes | | | 37,868 | | | — |
| Common stock issued for intangible asset acquisitions | | | 3,346 | | | — |
| Issuance of common stock to NYIAX | | | 4,895 | | | — |
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