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RZLV
Earnings call · Jun 2026 (Q2 FY26)

REZOLVE AI Q2 FY26 earnings call RZLV

Sep 1, 2026 Source

Executive summary

Rezolve AI Q2 FY26 — Breakout H1 Performance Driven by Strategic Partnerships and Infrastructure Validation

Rezolve AI delivered a breakout first half of FY26, significantly growing revenue and its customer base, driven by strategic partnerships with tech giants and system integrators. The company's proprietary infrastructure technology received a major validation with Google's selection, opening a new licensing opportunity. While profitability remains a focus, management reaffirmed its full-year revenue and ARR targets, emphasizing the seasonally stronger second half and the increasing contribution from higher-margin software and licensing.

Highlights

5

  • Revenue reached $130.8 million in H1 2026, a 1,970% increase year-over-year.

  • Customer base expanded to over 1,640, up from 950 at year-end.

  • Google selected Rezolve's proprietary distributed database technology for deployment inside Google Cloud, validating its infrastructure strategy.

  • Reaffirmed full-year 2026 revenue guidance of approximately $360 million and target of at least $500 million ARR exiting 2026.

  • Adjusted EBITDA loss improved to $32.6 million, reflecting underlying operating performance improvement as revenue scales.

Concerns

4

  • Reported operating loss for H1 2026 was $128.1 million, up from $32.4 million in the prior year period, including $41.5 million in share-based compensation and $20.4 million in D&A.

  • Gross margin of 48.9% in H1 2026 reflects the current mix of lower-margin professional services and loyalty businesses.

  • Net cash used in operating activities was $96.1 million, compared with $19.8 million in the prior year period.

  • Net cash used in investing activities was $148.3 million, primarily for business combinations and platform development.

Guidance & targets

CategoryTargetConfidence
Revenue
approximately $360 million
high materiality
High
ARR
at least $500 million
high materiality
High

Deals & partnerships

Microsoft Global route to market, enterprise deployment, infrastructure adoption

Provides access to global cloud marketplaces and enterprise sales organizations.

Google Selection of Rezolve's proprietary distributed database technology for deployment inside Google Cloud.

Validates Rezolve's infrastructure strategy. Google selected underlying Rezolve infrastructure for deployment inside one of the world's leading technology platforms.

Google Commercial distribution and infrastructure adoption.

One of the global routes to market for Rezolve.

Tata Consultancy Services (TCS) Combines Rezolve AgenticCommerce technology with TCS's global enterprise relationships, implementation expertise, and delivery network.

One of the global routes to market for Rezolve.

Tech Mahindra Provides a route to market through their enterprise customers, professionals, and operations.

One of the global routes to market for Rezolve.

Rewards Expanded capabilities across payments and loyalty.

Completion of the Rewards acquisition.

Zilch Extended capabilities into a payments platform.

Partnership following the period end.

Risks & headwinds

Current revenue mix includes lower-margin loyalty and professional services businesses. H1 2026

Gross margin of 48.9% in H1 2026.

Mitigation:Expect increasing contribution from higher-margin software and recurring platform revenues to drive continued improvement in gross margins.

Reported operating loss increased due to substantial noncash expenses and investments. H1 2026

Operating loss of $128.1 million in H1 2026, including $41.5 million share-based compensation and $20.4 million D&A.

Mitigation:Investments are designed to support a business operating at a fundamentally different scale and position Rezolve for significant future revenue and profitability. Underlying operating performance is improving rapidly on an adjusted EBITDA basis.

Higher net cash used in operating and investing activities. H1 2026

Net cash used in operating activities was $96.1 million; net cash used in investing activities was $148.3 million in H1 2026.

Mitigation:Raised $250 million of gross equity capital, providing resources for investment. Focus on disciplined working capital management and capital allocation. Current cash and equivalents of $100.5 million provides runway.

What to watch in Q3 FY26

Infrastructure licensing agreements

in the near term / coming weeks / second half
Current Google deployment underway
Target Further announcements of infrastructure licensing agreements

Why it matters

Google's selection establishes an important reference deployment, and further agreements would validate the broader long-term opportunity for Rezolve's infrastructure.

We expect to announce further infrastructure licensing agreements in the near term.

Q&A highlights

How do recent partnerships contribute to the revenue outlook, and what is the expected mix between partner-led and in-house sales?

Partnerships with large companies like Microsoft, Google, TCS, and Tech Mahindra provide credibility and access to blue-chip accounts, driving significant momentum. The direct sales force is fully consumed by deals generated through these partners, indicating a strong partner-led sales motion.

“We're starting to become the main source for commerce and retail agenetic capabilities because we feel and are seeing that we're the only game in town, and our partners are validating that.”

asked by Rohit Kulkarni · answered by Daniel Wagner

2 min read 6 chapters

Detailed narrative

H1 2026 Performance Overview

Rezolve AI reported a significant H1 2026, with revenue reaching $130.8 million, a nearly 21x increase over H1 2025. The customer base expanded to over 1,640 enterprise clients. This growth demonstrates the company's ability to execute ambitious objectives and build an installed base for broader technology adoption.

Strategic Partnerships and Distribution Model

The company is scaling its business through global industry leaders like Microsoft, Google, Tata Consultancy Services (TCS), and Tech Mahindra. These partnerships provide access to cloud marketplaces, enterprise sales organizations, established customer relationships, and large-scale implementation capacity, enabling Rezolve to reach a larger market without replicating the full cost and headcount.

Infrastructure Licensing Opportunity

A key strategic development is Google's selection of Rezolve's proprietary distributed database technology for deployment inside Google Cloud. This validates Rezolve's infrastructure strategy, which was built to provide accurate, current, and verifiable data at scale for AI agents. Management believes this opens a potentially much larger long-term opportunity for licensing its infrastructure across various markets.

Product Suite and Agentic Commerce

Rezolve offers a powerful suite of agentic commerce, customer engagement, loyalty, and payments capabilities, including Brain Commerce, Brain Checkout, Brain Power (proprietary LLM), Trace Wear, Auditable AI, and Rezolve Providence. These tools create the necessary rails for AI agents to access trusted information, make decisions, execute transactions, and support payments.

Payments and Loyalty Expansion

The completion of the Rewards acquisition expanded capabilities across more than 15 markets, with relationships with major financial institutions. A partnership with Zilch extended these capabilities into a payments platform servicing almost 6 million customers and driving over $3.3 billion annually to partner merchants. The technology also demonstrated production scale during the FIFA 2026 World Cup, processing 103 million app opens and 5.84 million geofence events.

Financial Performance and Outlook

While H1 saw a reported operating loss of $128.1 million, the adjusted EBITDA loss was $32.6 million, indicating improving underlying performance. The company raised $250 million in equity capital, ending H1 with $100.5 million in cash and equivalents. Management reaffirmed its full-year 2026 revenue guidance of $360 million and an ARR target of at least $500 million exiting the year, anticipating a seasonally stronger second half.

AI-generated summary of the company's earnings call. Not investment advice.