Nature of Business and Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Summarized Financial Information

Summarized financial information of AIXC included in the Company’s Unaudited Condensed Consolidated Financial Statements as of March 31, 2026 and for the three months then ended is presented below.

AIXC
Condensed Balance Sheet (Unaudited)
March 31, 2026
(in thousands)
Cash and cash equivalents .	$	6,201
Digital assets .	6,197
Other current assets	11,037
Total current assets .	23,435
Intangible assets and other assets .	467
Total assets	$	23,902
Accounts payable and accrued liabilities	$	1,959
Warrant liabilities and convertible debt	72
Total liabilities	2,031
Total stockholders’ equity	21,871
Total liabilities and stockholders’ equity	$	23,902

AIXC
Condensed Statement of Operations (Unaudited)
Three Months Ended March 31, 2026
(in thousands)
Operating expenses	$	4,516
Other expense, net	1,563
Net loss	$	6,079

AIXC
Condensed Statement of Cash Flows (Unaudited)
Three Months Ended March 31, 2026
(in thousands)
Net cash used in operating activities	$	(4,495)
Net cash used in investing activities	$	(8,504)
Net cash used in financing activities	$	(132)

Schedule of Crypto Asset

The table below summarizes the units held, cost basis, and fair value of the Company’s digital assets as of March 31, 2026 (amounts shown in thousands, except for units held, which are presented in whole numbers):

Digital Assets	Units Held	Cost Basis		Fair Value
Cardano ADA (ADA)	214,323	$	134	$	52
Native BNB (BSC)	1,308	1,356		807
Bitcoin (BTC)	46	4,943		3,150
Ethereum (ETH)	616	2,307		1,296
ChainLink (LINK)	19,404	339		170
Solana (SOL)	6,659	1,188		553
Tron (TRX)	531,334	164		167
USD Tether (USDT)	2,087	2		2
Ripple (XRP)	1	—		—
		$	10,433	$	6,197

The following table summarizes digital asset activity for the period indicated, including purchases, sales, net gains and losses recognized, other activity, and the fair value of digital assets held as of March 31, 2026 (amounts shown in thousands).

	Balance
Balance as of December 31, 2025	$	10,250
Purchases	338
Sales	(2,108)
Net (loss) gain on digital assets	(1,945)
Other	(338)
Balance as of March 31, 2026	$	6,197

Schedule of Property and Equipment, Net

Property, plant, and equipment, net, consists of the following as of:

(in thousands)	March 31, 2026		December 31, 2025
Land, buildings and building improvements	$	77,803	$	78,218
Computer hardware	2,603		2,603
Tooling, machinery and equipment	120,502		120,792
Vehicles	699		699
Lease vehicles	1,390		1,390
Computer software	4,339		4,339
Construction in process	8,541		8,500
	215,877		216,541
Less: Accumulated depreciation	(68,945)		(61,238)
	$	146,932	$	155,303

Schedule of Disaggregation of Revenue

The following table disaggregates our revenue by major source:

	Three Months Ended March 31,
(in thousands)	2026		2025
AIEV
Automotive sales	$	208	$	—
Automotive leasing - Sales type	—		265
Automotive leasing - Operating type	16		51
Robotics	$	288	—
	$	512	$	316

Schedule of Standard Product Warranty Accrual

Warranty costs related to the Company’s Robotics revenue were insignificant for the three months ended March 31, 2026.

	Three Months Ended March 31,
(in thousands)	2026		2025
Accrued warranty- beginning of period	$	376	$	545
Provision for warranty	85		(56)
Warranty costs incurred	(22)		(45)
Accrued warranty- end of period	$	439	$	444