Again, thank you for joining us. Ed Barger, Vice President, Datavault AI. I'm here today with our Chairman and CFO, Brett Moyer. Thank you all for joining us. I wanna start here. This is. We're starting kind of in the middle of the story. This is our Q4 presentation. You can see the revenue from the quarter stands out nearly a 1,400% year-over-year growth. Our first profitable quarter. You know, $120 million of working capital. We ended Q3 with about $3 million in cash. Well, as I go on, I'll explain how you get from $1 to 2 to 3 to 40 million. That was Q4, and then jumping to what we just presented.
During Q1, we have over and over again reiterated our guidance for this year, 2026, of $200 million. In Q1, we announced $750 million in tokenized contracts signed, which will generate $77 million. If you combine it with the lag from Q4, that's where we get the $800 million, with $100 million in fees expected to be recognized this year. That goes towards that $200 million. We went from, you know, a couple million per quarter to $40 million. That was guidance we gave back in October. CEO said $40 million in Q4, $200 million next year. We delivered Q4, we certainly expect to deliver on the full- year. Our balance sheet is stronger than ever.
We went from $120 million, now we're at $140 million in working capital. Plus, we have $120 million provided by Sanctum to roll out the Sanctum security network. If you add the working capital with that $120 million investment, we're looking at $250 million in current available funding. What I'm gonna do is take it back, give you a little history on the company real quick in order to clarify what Datav ault does. It's really two businesses. It's an acoustic sciences company and a data sciences company. The history is Brett Moyer was the CEO of a company called WiSA, and in late 2024, he acquired the Data Vault IP. He acquired a data sciences division.
During the course of 2025, they also acquired events companies, API Media and CSI. CSI Media became Event Citadel. Now you have the acoustic sciences division, which is WiSA, a product called ADIO, which is an inaudible tone that can be played at events. We have the events company. You can see, you know, we have the events company, API Media, is ladies and gentlemen serving ladies and gentlemen. We were just at Aronimink doing the PGA. We do The Masters. We do the Kentucky Derby. Now we have all these events that we are able to deploy the ADIO technology. This part of the company is getting spun out. The leader who came over with the API Media is David Barnard, a great leader. He's gonna take this company.
There's a lot of synergies here, but it's just a very different thing than what Datavault AI, what Nate Bradley and his IP is all about. Again, just reiterating, the event company with the ADIO technology is gonna get spun out. It's gonna be dividended out. This is gonna take a while. This is more towards the end of this year, early next year at the earliest. I wanted to do that to separate. We put out a lot of information. There's a lot of exciting things happening at the company, and people kinda get lost between the two companies. Acoustic sciences, data sciences. Now moving into the data sciences. What's going on here is data's being captured by everyone, every organization, but most organizations don't know what to do with the data.
They don't know what it's worth. They don't know how to manage it. AI is increasing the demand, and cybersecurity is a huge risk, especially with the quantum leap coming. You know, data in the clouds, with quantum computing is definitely problematic. Our platform is Web 3.0. We're blockchain Web 3.0. What we're able to do is value, secure, and monetize data. We can identify the value of the data, secure the data, convert the data into digital assets, and monetize that through licensing and exchanges. Just real quick, a real quick picture. I'll just brush on this. The value of the data market, data as a commodity. $5 million in 2025, doubled by 2028, growing at a 25%-26% CAGR over the next decade to $41 million by 2034.
What our platform can do, our data monetization platform, we can index, structure, tokenize, and monetize data. What I mean by that, think of this as a library. We are the librarian. You know, data is all over the place. It's a bunch of books. It's a bunch of pieces of paper sitting in the middle of the room. Nobody knows what to do with it. Datavault AI is the librarian that Dewey Decimal System data. We index it, we secure it, we tokenize it, and we put it out there on our exchanges. The first one is what I was just talking about. That's the Information Data Exchange. If you look at Individuals, like Larry Fink at the BlackRock 2026 annual shareholder meeting. Tokenization is the internet of 1996. Everything is getting tokenized.
Everything You can, you can tokenize just about anything. The word token gets thrown around a lot, but really what it is is a smart contract. It has value, it has terms, it's on the blockchain. All of this is immutable and totally transparent. This is the way that assets are going, and we have the platform and the IP to be first movers in this market. In addition to the Information Data Exchange, there's the International Elements Exchange. This is tokenizing real-world assets. An easy example is I got a mine. I know what it's worth. The geographical surveys have been done. There's definitely gold there, but I don't have the picks and shovels.
Come to us, we can tokenize 2% to 3% of that with very specific terms and offer that for sale at a discount to spot rate. I'm an investor, I buy the token, discount the spot rate. The guy gets his mine, pulls the gold out of the ground. I'm made whole, everybody's happy. This is where the world's going and this is what our IP, what our platform is able to do. We have nine total. We have five in-house. We have the American Political Exchange in development with Sports Illustrated is the six, which is the Sports Illustrated name, image, and likeness exchange. Basically three streams of revenue that go along with this concept. We can license our technology to third parties.
We also get fees for the tokenization of real-world assets, the exchange revenue. As we build this market, as tokens are moving all over the place all the time, that's the exchange revenue side of this. Like I was saying, real-world assets, huge market. Currently, tokenized assets currently on the blockchain is around $30 billion. This is quickly expected to be in the trillions of dollars. Anything can be, like I said, anything can be tokenized: commodities, agriculture, pharmaceuticals, real estate. We have the nine exchanges to pretty much handle most of this. We have five exchanges. We have the IDE, the IEE, the NYIAX, the American Political Exchange. We've also bought Nasdaq's advertising exchange called the NYIAX. We're closing that deal in May, very soon.
All this is no good without security. What we're currently building is this Sanctum secure infrastructure for data monetization. This is not your typical data center that takes up multiple city blocks and makes a lot of noise and is being protested by people and cities and states. These are nodes. We're currently moving on this. We're installing in Philadelphia and in New York, 30 cities over the next couple of months, 100 by the end of the year. I mentioned earlier the deal we have with Sanctum. They are providing the $120 million to build this security system all around the country in order to get us to a point where we are compliant with the government regulations that we see coming.
CyberCatch was a recent deal that we added, which increases our ability to provide this system in a secure and compliant way. It has continuous threat monitoring and cyber risk mitigation, and it supports regulatory readiness and secure deployment. The Clarity Act was just passed the Senate committee on Thursday. It cleared the House. It cleared the committee. It's expected to go to the Senate. It is expected to go on the law. The Clarity Act basically will provide the framework for the tokenization and monetization of digital assets. We've already built this structure. We've built the security structure. We're building Sanctum. We bought CyberCatch, and we also have partnerships with CLEAR for identification verification. Our Agentic AI is watsonx through IBM. Through Fiserv, we have the banking and transaction settlement ability.
Like I said, NYIAX is an exchange that we bought. It's an advertising exchange that we purchased. Of course, our other partner, Houlihan Lokey, who we've been working with for quite some time. To summarize, what we do, we enable organizations to convert proprietary data into monetizable digital assets. It's blockchain-based registries for ownership, licensing, and usage rights. We support token exchanges where data assets can be transacted. We position data as a tradable asset in an asset class alongside financial and physical assets. The reason that we are uniquely positioned and strategically set up for success is our patented infrastructure. Our CEO, Nathaniel Bradley, he's been working on this since 2019.
This became a public company when WiSA purchased his IP back in late 2024, we've since been building this system. Key milestones is really the launch of the exchanges. I can just sum this all up with this summer, these exchanges will launch. We have proof of concept. If you go to our website right now, you could get a digital wallet, there are tokens and coins that we've issued through our warrants and our distributions to our shareholders. These are actively trading, actively available. Later this year, in July, we're launching the major exchanges. This is where we launch the Information Data Exchange, the International Elements Exchange, the Sports Illustrated NYIAX Exchange. Just ending on, you know, a summary, I mentioned that $200 million number.
That is a 400% growth over 2025. The key is our patents, 84 patents. Acoustic Sciences, Data Sciences, we're gonna break this up so Data Vault can focus on the data sciences, the blockchain Web 3.0 exchanges. With that, believe that's all I have for you. This kinda, it's a little confusing, the left side of the chart's gonna go away, basically. It's gonna be set up and separated.
Two companies.
We're-
Q&A. Yes, sir.
What are you raising? What's your exit? Where, you know, why are you here?
I'm here to tell the story.
We are two divisions. We just announced that we're gonna spin out the one, because we're not getting the value of the two divisions. We'll issue the dividend. The working capital that's available to execute the plan, as he said earlier, was $250 million. We're not raising. We're here just for educating the market.
Yes, sir.
You're spinning off the audio division, but not till year-end, so I assume that's included in there.
It is.
You've got a couple of acquisitions. I assume they're already in there. How much of the 200 is gonna be spun? How much of the 200 is ADIO, and how much is the data division?
We have not. We have not. I mean, the audio division, that's a public revenue number, right? You know, the API Media is doing $2.5. The audio business, $1. That is real recurring revenue. Like the Acoustic Sciences company has a recurring revenue. It's just small. A lot of the $200 million is the licensing fees, people who want to use our exchanges, people who need tokens minted for the trading of real-world assets with these gold mines and these copper mines. That $750 million that we've signed, that's generating $77 million, a lot of that is to tokenize these contracts. Does that answer your question?
Very well.
All right.
Basically, if you see these robust patents that you have, and you have IBM as a partner that does a DataScore of the mines of the assets that are in the ground or available outside the ground, they're helping create a more liquid market. IBM scores the data, then they value the assets. Houlihan Lokey comes in, what they do is they have a smart contract. Based on that smart contract, you put the token up on the Nasdaq platform. The Web 3.0 of Fiserv lets you, with the Fiserv clearing, lets you clear the token. Now think of selling 1,000 shares of Cisco Systems and buying some tokenized asset copper from another company. Think about a company taking copper or gold and putting it on another company's balance sheet, so making it more robust like people do with Bitcoin.
Every time this token trades, when gold goes up or down in the value, think about that trade happening and the company that signs up makes a little commission back. Now the company is making money on the trading of their token as well. The fees that go on one time, they become reoccurring fees as the token starts to trade. Think about selling 1,000 shares of a stock and buying some fractionalized wine up in Napa Valley. This is the type of market and tokenomics that we're talking about. Look at the partners, the Nasdaq, IBM, Fiserv, Houlihan Lokey, all $40 billion companies or higher partnered with Datavault AI, who's trading at a low price here, and that's where the value's not being seen so far in the marketplace. The last thing I'll say is the GPUs.
We bought a contract for $128 million worth of GPUs 11 months ago. What was the price of the GPUs, the B200s I think they are, they're the biggest. What were the price of those 10 months ago, and what are they now? They're well over $1 billion. They're well worth over $1 billion. If you have the assets from a stock that's trading where it's at right now, and you look at the bid price of just what those assets are worth from the DePIN network, we're putting out 100 cities now, not later. When we put out those assets in the 100-city DePIN, it's like a small little micro data set. It's not sucking up power. It's not all in one place, 100 different cities. These things are created by Available Infrastructure Dan Gregory.
You look him up. He built the grid system, electrical grid system in the United States, so he knows exactly, and IBM's a partner too. Think about a quantum available network running at that speed with quantum security, we're it. Datavault AI's the only game in town, and now you can start tokenizing it on the Nasdaq platform. There's more to come.
You're next.
Appreciate it. Your guys's fee structure, if you have one, when working with issuers for tokenization. Do you have one?
We do.
Could you explain the fee structure when you onboard issuers?
Sure.
Yes.
I can explain the process. We're not gonna go into the details.
You talk.
that's proprietary.
Right.
When we do a tokenization, there's a fee for raising the money.
Yeah.
There's a fee for using the technology, and there's a fee for minting the token.
100%, right.
If we raise all the money through issuing the tokens onto a mature exchange, where there's no bank involved, we get all the fees.
Gotcha.
All of them. If there is a bank comes in and they want 6% of the money raised, they will get 6%, we get the rest.
Do you take any of the fees in the underlying token issuance?
Yeah. Yeah, yeah. No, it's all broken up. We're not breaking it up publicly, but there are pieces that we'll take for tokenization. There are pieces we'll take for the use of our IP.
Sure.
There are pieces that are related to the mining.
The trading on the token.
I'll get there.
The trading on the token.
I'll answer the question.
It's a razor's edge.
I'll answer the question. Alfred, relax.
Ladies and gentlemen, one of our founders, Alfred Blair Blaikie III.
Now, for the miner, when we're trading those tokens and we're picking up the transaction fees.
There's a cut back to the issuer.
You talking about do you guys doing any market making activities in the token as well?
Yeah. What's that?
You doing market making activities in the token as well?
Yes, we will. Right. We won't say how much, but just say it's a 70/30 split or something, right?
Sure.
The miner, once they've issued it, or anybody else, the Data people, whoever, right? If it's a token that trades in the market, then they have a slice of our fees for that transaction.
Right.
The NYIAX transaction that he talked about that we're buying, they own 50% rights to the Nasdaq trading platform patents. When we talk about are we making the market, that is the core technology making the market, the Nasdaq platform.
Gotcha. Thank you.
Yes.
Congratulations on your roles. I think you are really pioneers in exploring all of these different areas. About a year ago, and this is really a follow-on question to something that Alfred brought up, putting the assets, the tokenized assets on a balance sheet. About a year ago, we encountered kind of a position from Nasdaq that they no longer wanted to recognize digital assets, which is part of this silliness in not welcoming this into the forefront. There's a little bit of a controversy, as we all know, you know, over the word token or blockchain or, you know, cryptocurrency. They all put it together. It should be security. How are you addressing that? Do you find that to be an issue in putting digital assets, when you can, on someone's balance sheet, or are you getting past it?
If I may, it does sound like you're educating the market. I'm just wondering what the plan is for that.
What was the question?
Basically, she's just saying the Clarity Act.
really puts that into effect because the CLARITY Act.
Yeah
Tells you what is a commodity and what is a security and what type of regulation you need for each individual. Nasdaq has completely changed their tone from a year ago.
Yes.
I mean, they have a series of, release status-
Yeah
Around what they're doing around tokenization. The CLARITY Act goes into law, which should be June or July.
Yeah.
Right? They, I mean, it doesn't matter what they say.
Right. Awesome. Thank you.
Yeah. Clarity Act is what I was going to say. All right. Any other questions? Sure.
We got two minutes left.
Yeah, yeah.
How many companies have you contracted with so far?
Probably eight or 10 in that. 'Cause they're big, right? I mean, we're not doing $5 million contracts. We're doing $50 million tokenizations, $100 million tokenizations, right? We've only been in the game for four months.
The one, if you go back to that other slide, I think everybody got misconstrued. If you go way back to the slide where you're like, "It's $43 million," I thought that was billion. Should that have been billion dollars?
Yeah.
That. What is that? Like.
That's just pure data monetization, not real-world assets, not NYIAX. That's just looking at selling data.
Yeah, I think that everybody should take that and throw that slide out because.
Alfred, we're not editing the presentation in the middle of the presentation. On our notes, we will validate those numbers, and we will do what's right.
I appreciate the feedback. I will go back and double-check that.
Maybe it should be billions.
This one's trillions.
I think we got time for one more.
That's it?
All right.
That's it. Thank you all for coming. I appreciate your ti-