Rezolve AI PLC

Good day and thank you for standing by. Welcome to the Resolve AI half-year results 2026 webcast and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Alternatively, you may submit your question via the webcast. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Crispin Lowery, Resolve AI President or Partnership, and Capital Markets. Please go ahead.

Thank you, operator, and good morning, everyone. Before we begin, I'd just like to remind you that today's discussion will include some forward-looking statements. These statements include, amongst other matters, our expectations regarding full-year revenue, annual recurring revenue, second half performance and seasonality, enterprise deployments, partner-led distribution, infrastructure licensing, the commercial potential of our technology, and our future operating and financial performance. Forward-looking statements are based on our current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to materially differ. Please refer to risk factors contained in Resolve AI's annual report on Form 20F and our subsequent filings with the Securities and Exchange Commission. We'll also refer to annual recurring revenue or ARR, which is a non-GAAP operating metric. ARR is not a substitute for revenue recognized under US GAAP and is not a forecast of future recognized revenue. The definition of ARR is included in today's results announcement. Our results announcement and financial statements are available on Resolve AI's investor relations website. I'll now hand over to Dan Wagner, our founder, chairman and CEO.

Thank you Crispin and good morning everybody. H1 2026 was a breakout period for Resolve AI. Revenue reached $130.8 million compared with $6.3 million in H1 2025, an increase of approximately 1970% or nearly 21 times. In six months, we generated nearly three times the revenue that we reported for the whole of 2025. Our customer base also expanded to more than 1,640 compared to just over 950 at the year end. These figures demonstrate that resolve can execute against ambitious growth objectives. But if the investment case is larger than the H1 numbers alone point out, I want to focus today on three developments that reinforce one another. First, we have built an increasingly powerful suite of Agentic Commerce, Customer Engagement, Loyalty, and Payments Capabilities. Second, Microsoft, Google, Tata Consultancy Services, and Tech Mahindra provide Resolve with global routes to market, enterprise deployment, and infrastructure adoption. Third, the proprietary data intelligence transaction and payment infrastructure beneath our products can increasingly be licensed independently, creating a potentially much larger long-term opportunity for resolve. We are a business entering global scale. Our immediate priority remains execution. We now serve more than 1,640 enterprise customers across the group. Publicly disclosed customer relationships include companies such as H&M, ASOS, Ferrero, Myntra, Rakuten Group, Omaha Steaks, Cineplex, Target, New Era, BJ's Wholesale, Rebag, The Container Store, Urban Outfitters, Mango, Qatar Airways, and Graybar. I will not go through all 1,640, but they are all of equal quality. The significance is not simply the number of customers. It is the installed base we are creating for the broader adoption of our technology. Our products address the principal stages of the modern commerce journey. Brain Commerce supports intelligent product discovery and customer engagement. Brain Checkout and our payments capabilities support transaction execution. Brain Power provides sophisticated commerce intelligence and is our proprietary large language model. Traceware, Auditable AI and Resolve Provenance provide accuracy, accountability and trust. Our proprietary distributed database platform provides the reliable, current and verifiable data infrastructure that AI agents require. Together these capabilities create the rails through which AI agents can access trusted information, understand intent, make decisions, engage customers, execute transactions, and support payments. We are distributing this technology through global industry leaders We're also scaling differently from a conventional enterprise software company. We're not attempting to build this business one customer and one salesperson at a time. Our relationships with Microsoft, Google, TCS, and Tech Mahindra provide access to global cloud marketplaces, enterprise sales organizations, established customer relationships, and large-scale implementation capacity. Our brainpower commerce tuned models are available through Microsoft Foundry and can be deployed on Microsoft Azure with integrations across Microsoft Dynamics 365 and Microsoft 365 Copilot. Our relationship with TCS combines Resolve agentic commerce technology with TCS's global enterprise relationships, implementation expertise and delivery network. Our alliance with Tech Mahindra provides a route to market through more than 1,100 enterprise customers, approximately 146,000 professionals and operations across 90 countries. Our relationship with Google spans both the commercial distribution and infrastructure adoption. These relationships are not simply logos. They are routes through which resolved technology can be introduced, procured, integrated, and deployed within enterprise environments around the world. They give us the potential to reach a substantially larger enterprise market without replicating the full cost, headcount, and geographic footprint of our partners. Google validates the infrastructure opportunity which is a very important strategic development following the half-one period end, was Google's selection of Resolve's proprietary distributed database technology after an extensive technical evaluation. The technology is being deployed at infrastructure level within Google Cloud, providing indexing and data pipelines supporting Google Cloud Web3 datasets. The initial deployment covers approximately 100 terabytes of data, which is a lot of data, across 10 blockchain networks, which is a lot of blockchains. This is important because Google did not simply select a front-end commerce application. It selected underlying resolve infrastructure for deployment inside of one of the world's leading technology platforms. This is a significant External validation of both our technology and our infrastructure strategy. The technology was built to provide accurate current and verifiable data at scale. That capability is essential as AI evolves from answering questions to taking actions and executing transactions. AI agents will only be as reliable as the data, intelligence and transaction infrastructure beneath them. S&P Global Market Intelligence forecasts that annual spending on AI infrastructure supporting data ingestion, integration and preparation will grow from approximately 109 billion in 2025 to 209 billion by 2030. We believe Google's selection establishes an important reference deployment from which Resolve can license its infrastructure more broadly across cloud computing, commerce, payments, financial services, digital assets, and other enterprise markets. We also believe Google is the beginning of this opportunity, not its conclusion. We expect to announce further infrastructure licensing agreements in the near term. Payments, loyalty and production scale validation. We're making important progress across payments and loyalty as well. The completion of the reward acquisition expanded our capabilities across more than 15 markets. Rewards Network now has relationships with Barclays, Visa, Mastercard, NatWest and Mashrec and has returned more than $2 billion in cashbacks to customers. Following the period end, our partnership with Zilch extended these capabilities into a payment platform servicing almost 6 million customers and driving more than $3.3 billion annually to our partner merchants. Our technology also demonstrated production scale during the FIFA 2026 World Cup measurement period from June 1 through July 31. Across 16 stadiums, the platform processed approximately 103 million app opens from 9.86 million unique devices and recorded 5.84 million geofence events. These are important proof points. They show that Resolve technology is not confined to demonstrations or pilot projects. It operates inside live high volume environments. As we move into H2, we have a seasonally stronger second half. And before I head back to Arthur, I want to address the shape of the year. The revenue profile for resolve is weighted towards the second half. Last year, we did $40 million in the second half versus $6 million in the first. And this is reflecting the peak retail and holiday trading, customer campaign activity, enterprise deployment timing, and increased partner led distribution. So our approximately 360 million of full year revenue guidance implies half to revenue of approximately 229 million, around 75% greater than H1. We believe our expanded customer base, growing product suite, enterprise deployments and global distribution relationships provide a strong foundation for that expected second half performance. We therefore reaffirm our expectation of approximately 360 million of revenue for fiscal year 2026 and our target of at least 500 million of ARR as we exit the year. I now have the call to Arthur to discuss our financial performance in more detail.