Revenue: As of FY2026 Q1, the actual value is USD 510 K.EPS: As of FY2026 Q1, the actual value is USD -3.13, beating the estimate of USD -3.6.EBIT: As of FY2026 Q1, the actual value is USD -4.689 M.Corvex, Inc. reported its first quarter 2026 results, which included the completion of the acquisition of Corvex OpCo on March 19, 2026, and the renaming of Movano Inc. to Corvex, Inc. effective March 23, 2026, shifting the company’s primary business to AI cloud computing.<h4>Segment Revenue</h4><ul><li>Total revenue in Q1 2026 was $510 thousand, an increase from $206 thousand in Q1 2025.</li><li>AI Platform and Services revenue contributed $475 thousand during the post-close stub period of Q1 2026, with no comparable revenue in Q1 2025.</li><li>Connected Devices and Services revenue was $35 thousand in Q1 2026, down from $206 thousand in Q1 2025.</li></ul><h4>Operational Metrics</h4><ul><li>The net loss for Q1 2026 was - $5.005 million, an improvement from a net loss of - $5.178 million in Q1 2025.</li><li>Loss from operations was - $4.847 million in Q1 2026, compared to - $5.238 million in Q1 2025.</li><li>Adjusted EBITDA loss improved significantly to - $1.604 million in Q1 2026, from - $4.901 million in Q1 2025, reflecting a 67% improvement.<ul><li>For the AI Platform and services segment, Adjusted EBITDA loss was - $98 thousand in Q1 2026.</li><li>For the Connected devices and services segment, Adjusted EBITDA loss was - $1.506 million in Q1 2026, an improvement from - $4.901 million in Q1 2025.</li></ul></li><li>Total operating expenses decreased slightly to $5,357 thousand in Q1 2026 from $5,444 thousand in Q1 2025.<ul><li>Cost of revenue - AI Platform and services was $247 thousand in Q1 2026.</li><li>Cost of revenue - Connected devices and services was $265 thousand in Q1 2026, down from $642 thousand in Q1 2025.</li><li>Depreciation and amortization increased to $326 thousand in Q1 2026 from $38 thousand in Q1 2025.</li><li>General and administrative expenses increased to $3,393 thousand in Q1 2026 from $1,637 thousand in Q1 2025.</li></ul></li></ul><h4>Cash Flow</h4><ul><li>Net cash used in operating activities was - $4,288 thousand in Q1 2026, comparable to - $4,303 thousand in Q1 2025.</li><li>Net cash provided by investing activities was $30,441 thousand in Q1 2026, primarily due to $36,679 thousand cash acquired in business combination, offset by $6,238 thousand in purchase of property and equipment, with no comparable activity in Q1 2025.</li><li>Net cash provided by financing activities was $350 thousand in Q1 2026, down from $758 thousand in Q1 2025.</li></ul><h4>Unique Metrics</h4><ul><li>Deferred revenue, including current and non-current portions, significantly grew to $4.4 million at March 31, 2026, from $12 thousand at December 31, 2025, reflecting contracted AI compute capacity not yet recognized.</li><li>Cash and cash equivalents were $29.3 million at March 31, 2026, a substantial increase from $2.827 million at December 31, 2025.</li><li>Pro forma consolidated financial data for Q1 2026 included pro forma revenue of $3.7 million, pro forma net loss of - $15.9 million, and pro forma adjusted EBITDA loss of - $0.9 million.</li></ul><h4>Outlook / Guidance</h4>Corvex, Inc. did not provide specific forward-looking financial guidance or numerical outlook for future periods in this report.

Corvex | 8-K: FY2026 Q1 Revenue: USD 510 K