| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $0 | — | — |
| Cost of Revenue | $0 | — | — |
| Gross Profit | $0 | — | — |
| SG&A Expense | $18K | — | — |
| Operating Income | -$2.7M | — | — |
| Pre-tax Income | -$2.7M | — | — |
| Income Tax | $0 | — | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Cash & Equivalents | $0 | — | — |
| Total Assets | $5K | — | — |
| Current Liabilities | $2.4M | +70.0% | — |
| Total Liabilities | $2.4M | +70.0% | — |
| Stockholders' Equity | -$2.4M | -69.6% | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$1.7M | — | — |
| Capital Expenditures | $5K | — | — |
| Investing Cash Flow | -$5K | — | — |
| Financing Cash Flow | $1.7M | — | — |
| Free Cash Flow | -$1.7M | — | — |
Business Overview
AIAI Holdings Corporation was formed as a Delaware corporation to complete a direct listing and create an AI-powered ecosystem through acquiring and scaling companies with high potential for increased operating results through AI application. On May 6, 2026, the Company completed acquisitions of six portfolio companies (C.C. Carlton Industries, Constellation Network, gTC MediGuide, Vanguard Health Solutions, AI Research Corporation, and Bond Street) and issued stock for a perpetual license to M42 AI technology. The Company commenced trading on Nasdaq on May 14, 2026 under ticker symbol 'AIAI.'
Segment Performance
C.C. Carlton Industries, Ltd. (a portfolio company acquired May 6, 2026) reported for Q1 2026: Revenue from contracts of $58.9 million (vs. $62.4 million in Q1 2025), resulting in gross profit of $3.5 million (vs. $8.9 million in Q1 2025), and net loss of $3.7 million (vs. net income of $2.5 million in Q1 2025). AIAI Holdings' pre-acquisition operations reported net loss of $2.7 million in Q1 2026 with no revenue.
Forward Guidance
"Following completion of the Direct Listing and the contemporaneous closing of the acquisition transactions for our Portfolio Companies our liquidity needs will primarily consist of working capital requirements for the operations of our Portfolio Companies as well as incremental general and administrative costs associated with operating as a public company, acquisition funding, capital expenditures, and research and development investments." Additionally, "our Founder and affiliated entities have committed to providing approximately $45.0 million in cash funding to the Company to satisfy certain capital and/or contractual commitments in connection with our merger agreements for acquisition of the Portfolio Companies and costs associated with completion of our Direct Listing. Repayment is not required prior to June 30, 2027."
Key Risk Factors
| Net Income | -$2.7M | — | — |
| EPS (Basic) | -$2717.66 | — | — |
| EPS (Diluted) | -$2717.66 | — | — |
Key risks include: (1) implementation of business model and strategic plans, timing and results of acquisition programs; (2) ability to compete effectively with existing and new competitors across markets, products, and pricing; (3) unanticipated technology needs and ability to integrate new technology into the ecosystem; (4) adverse global or regional economic conditions, including changes in U.S. trade policy and impact of tariffs; (5) cybersecurity incidents and data or system security risks; and (6) ability to attract and retain key employees and meet expectations regarding revenue, costs, liquidity, and profitability.