Hello everyone, and thank you all for joining us during the Lytham Partners Fall 2026 Investor Conference. My name is Roger Weiss, and I'm a vice president here at Lytham Partners. Joining us today is Dan Wagner, the Founder, Chairman, and Chief Executive Officer of Rezolve AI. He'll be taking us through an overview of the company. Please note that Rezolve AI shares trade under the Nasdaq ticker symbol RZLV. Dan, welcome to the conference.
Thank you very much, Roger, and thank you everybody for taking the time to listen to our story. Rezolve is the entity that follows a long line of businesses that I've created in the last 45 years, all in the area of commerce, search, and Software as a Service technologies. I set up my first company in 1984. It was a pioneer in online information. We were the first to digitize newspapers, trade journals, and periodicals and make them available online for interrogation. That business became the world leader over the next 16 years. We listed on the London Stock Market in 1994, 10 years after we were founded, and in 1995 on Nasdaq.
In the end, I sold the business in 2000 to Thomson Reuters, at which point we were operating in 192 countries, and we were the world leader in providing information to corporates and to consumers via our partners CompuServe, AOL, Yahoo, MSN, and many others. That period of 16 years led us to understand how to build data centers and to run Software as a Service, how to develop search technologies to interrogate large amounts of content, and to create our own commerce tools, because when I set the company up in 1984, there was no e-commerce tools available. Amazon set its stall out in 1996, 11 years later. By the time I sold the business, we were very skilled in commerce, SaaS, and search. So I set two companies up.
One was called Venda, which was an e-commerce platform, served as a service from the Internet, so think of Shopify, but for enterprise accounts. That business went on to become European market leader for enterprise e-commerce. In the U.S., we ran the sites of Neiman Marcus, Lands' End, TJX Companies, Under Armour, J.Crew, L.L.Bean, and many others. That business, that e-commerce business, was sold to Oracle in 2014, and it's now Oracle Commerce Cloud, their main cloud commerce platform. The other business I set up was a search company called Attraqt. It listed on the London Stock Market in 2014. It provided search technologies to e-commerce platform providers and knowledge management technologists. That business, listed on the London Stock Market in 2014, was sold to private equity in 2019, and we absorbed it back into Rezolve in 2025.
Rezolve was set up in 2016 to deal with a very significant issue that faces merchants and brands today. The issue goes back 25 years. It is a problem that is very unique to commerce and digital channels. Seven out of 10 people that land on an e-commerce platform do not end up concluding an order. This level of cart abandonment, 70%, has challenged e-commerce vendors for decades. At first, people thought it was to do with the long checkout flow, but that was solved by Apple Pay, Google Pay, Stripe, and other efficient ways to check out. Then they thought it was to do with registration or to do with shipping not being surfaced up early in the checkout flow. All of those issues were addressed, and yet it is still seven out of 10 people fail to buy a product when they land on a retail site.
Compare that to when you walk into a physical store. Seven out of 10 people end up buying product. So you have a 100% converse relationship between physical retail and digital retail. When you look at how expensive it is for retailers to attract you to their site, $0.50 in every dollar goes to Amazon online. The other $0.50 is shared by every other retailer on the planet. And up until now, they have spent their money on trying to improve what is known as SEO, the search engine optimization that gives them good listing on Google, and also to buy keywords that drive people to their site. Both of those things are going away. Right now, people don't use Google anymore. They are using answer engines like ChatGPT, Perplexity AI, even Google's Gemini, to find answers to queries about products and so on.
As a result, these retailers and brands don't know where to go. Their whole premise has been to attract customers to their sites, of which they only convert 30%, by using search engine optimization that is no longer relevant and by buying keywords that is no longer relevant. Rezolve was set up in 2016 understanding the development of generative AI, being involved in the open source community to help develop the language models that are now being used by all of us. Rezolve developed its own language models specifically for commerce and retail. We developed language models where we believe we have created the infrastructure to surface up the world's best salespeople as agents, as digital agents. So there are two propositions that we serve for our customers.
The first is we give them an agent on their website that converses with their customers, giving them answers to questions to help them through the purchase path that we believe replicates the best salesman they could possibly put up in a physical retail store. So think of this, it is a piece of technology that engages with the customer when you land on the site. Imagine www.adidas.com, when you land on the site, "Welcome to adidas. How can I help you?" "I'm looking for a pair of trainers, size 10. I'm looking to run the marathon.
What have you got?" Instead of being served 40 items on 15 pages, page after page of a load of shoes that have no relevance to me and being bombarded with advertising, I am being taken through a normal journey, a sales journey created by our technology that replicates the world's best salesman for that product. That's an agent to consumer engagement, an agent being technology to a human being who typed adidas.com. Now, I am using this just as an example. The second area of activity in today's new economy, digital economy, is agent-to-agent interaction. That's when I go to ChatGPT and say, "Hey, I am looking for a pair of trainers to run the marathon. I am thinking of running." ChatGPT sends off 500 agents to Adidas, Puma, Reebok, Nike, Foot Locker, and I do not know how many other people, right?
Interrogates their sites using technology, looks at all the results, and then tries to answer my question. Problem is, these answer engines, what they are called, answer engines, have a propensity to make mistakes. The probabilistic algorithms, mathematical algorithms that are used by language models, by their very nature are probabilistic and make mistakes. We spent nearly 10 years solving the problem of hallucinations and model drift, which is the foundation of our technology in Rezolve, and why we are seeing such fantastic momentum and take-up by our brands in the market since we launched our products to merchants and brands in January of 2025. In summary, we provide agent technology to our merchants that provide them with infrastructure to serve the new digital economy.
The new digital economy is not the old economy of search engine optimization and keywords and all of that stuff, because people are not using that anymore. The new world economy is known as agentic commerce. It's agents coming to the sites and interrogating those sites. What we do is we provide agents on the merchant site to interact with those agents to make sure they tell the end customer the right thing, to make sure that they do not make mistakes and hallucinate. We protect the brand from being disaggregated from their end customer by understanding who the agent is talking to, the other agent. Secondly, we provide an interface, a new way of engaging in digital channels that provides a rich experience that we are already seeing is improving conversion by 25% or more. We are now seeing 37.5% conversion instead of just up to 30%.
That's just the beginning. We think it's just going to improve materially from this point forward. In terms of the company, we have three routes to market, organic sales, partnership sales, and M&A. Our organic sales, we have spun up a large sales organization in the first half of 2026 who have been very, very effective. In terms of partner sales, we work with Microsoft and Google, two huge endorsements of our unique technology that doesn't hallucinate. They are introducing us to their merchant base and those warm leads are resulting in fantastic momentum.
The third, and we also have system integrator partners like Tech Mahindra and Tata Consultancy Services, huge system integrators who are bringing our technology into their customers because of our reliability, the fact that we do not make mistakes, and the fact that we can be put in front of the customer and left to run for 10,000 customers a day without making mistakes. Finally, M&A. We are buying the old search companies, like my old company, Attraqt, and we are upselling this new technology. It is a very effective way of getting market share and momentum by buying existing engagements. We went from zero revenue in January 2025, $6 million of revenue in the first half of 2025, to $130 million of revenue in the first half of 2026.
We did $46.5 million, $46.8 million of revenue in the whole of 2025 and exited with $232 million of ARR. As I said, we did $130 million in the first half of 2026. We are on a roll. We are smashing it. The reason we are smashing it is that we know exactly what we are doing, we know exactly how to sell into this market, we have been in this business for over 40 years, and we know exactly what problems it is that we are looking to solve. I am very much looking forward to meeting you all at the conference next week. Thank you very much for taking the time to hear the high-level pitch.
Dan, that was phenomenal. Again, thank you so much for joining us at the conference and for your overview of what the company is and what it does. Also, I need to thank all the folks who are watching us now, appreciate you taking the time. If you have any questions or would like to schedule a meeting with Rezolve AI, please send me an email. My address is weiss@lythampartners.com. If you would like to learn more about Lytham Partners, you can visit our website at lythampartners.com or follow us on LinkedIn and stay connected for future events. We hope you will all enjoy the rest of the conference, and have a great day.