Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Segment Reporting Information

The following table presents revenues, expenditures and loss from operations data of the Company and its reportable segments for the years ended December 31, 2025 and 2024. In 2024, the Company operated as a single segment (AIEV).


	2025						2024
(in thousands)	AIEV		AIXC		Consolidated		AIEV		AIXC		Consolidated

Revenue	$	536	$	—	$	536	$	539	$	—	$	539
Cost of revenues	98,302		—		98,302		84,029		—		84,029
Gross profit	(97,766)		—		(97,766)		(83,490)		—		(83,490)
Operating expenses
Research and development	16,757		(154)		16,603		25,227		—		25,227
Settlement on accrued research and development expenses	—		—		—		(14,935)		—		(14,935)
Sales and marketing	12,310		—		12,310		9,278		—		9,278
General and administrative	52,615		3,118		55,733		43,164		—		43,164
Loss on disposal of property, plant, and equipment	2,459		—		2,459		1,667		—		1,667
Asset impairment on long-lived assets	137,435		—		137,435		1,847		—		1,847
Impairment of goodwill and intangible assets	4,450		—		4,450		—		—		—
Credit loss expense - short-term note receivable	—		4,294		4,294		—		—		—
Total operating expenses	226,026		7,258		233,284		66,248		—		66,248

Loss from operations	$	(323,792)	$	(7,258)	$	(331,050)	$	(149,738)	$	—	$	(149,738)

Other segment disclosures were as follows:


	2025						2024
(in thousands)	AIEV		AIXC		Consolidated		AIEV		AIXC		Consolidated
Depreciation and amortization	$	64,807	$	—	$	64,807	$	71,442	$	—	$	71,442
Interest expense	$	(8,296)	$	(353)	$	(8,649)	$	(7,895)	$	—	$	(7,895)
Related party interest expense	$	—	$	—	$	—	$	(8,710)	$	—	$	(8,710)
Net loss on digital assets	$	(529)	$	(3,588)	$	(4,117)	$	—	$	—	$	—
Segment net assets	$	(18,666)	$	26,425	$	7,759	$	114,967	$	—	$	114,967