Form 8-K
8-K — Virtuix Holdings Inc.
Accession: 0001213900-26-092131
Filed: 2026-08-20
Period: 2026-08-19
CIK: 0001606242
SIC: 3577 (COMPUTER PERIPHERAL EQUIPMENT, NEC)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — ea0302767-8k_virtuix.htm (Primary)
EX-99.1 — PRESS RELEASE DATED AUGUST 19, 2026 (ea030276701ex99-1.htm)
EX-99.2 — PRESENTATION MATERIALS DATED AUGUST 20, 2026 (ea030276701ex99-2.htm)
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8-K — CURRENT REPORT
8-K (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): August 19, 2026
VIRTUIX HOLDINGS INC.
(Exact name of registrant as specified
in its charter)
Delaware
001-43067
46-4371395
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(I.R.S. Employer
Identification No.)
11500 Metric Blvd, Suite 430
Austin, TX
78758
(Address of principal executive offices)
(Zip Code)
(512) 947-9029
Registrant’s telephone number,
including area code:
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
Title of Class
Trading Symbol
Name of Exchange On Which Registered
Common Stock
VTIX
Nasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial
Condition.
On August 19, 2026, Virtuix Holdings Inc. (the
“Company”) issued a press release announcing the Company’s financial results for the three months ended June 30, 2026.
A copy of the Company’s press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On August 20, 2026, the Company held an earnings
conference call to discuss the Company’s earnings results for the three months ended June 30, 2026. The Company is furnishing as
Exhibit 99.2 to this Current Report on Form 8-K the presentation materials that were provided and discussed during the earnings conference
call.
The information included in Items 2.02 and 7.01,
including Exhibit 99.1 and 99.2 hereto, is being furnished and shall not be deemed to be “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange
Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as shall be
expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1
Press Release dated August 19, 2026.
99.2
Presentation Materials dated August 20, 2026.
104
Cover Page Interactive File (the cover page XBRL tags are embedded in the Inline XBRL document).
1
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: August 20, 2026
VIRTUIX HOLDINGS INC.
By:
/s/ Jan Goetgeluk
Jan Goetgeluk
Chief Executive Officer
(Principal Executive Officer)
2
EX-99.1 — PRESS RELEASE DATED AUGUST 19, 2026
EX-99.1
Filename: ea030276701ex99-1.htm · Sequence: 2
Exhibit 99.1
Virtuix Reports First Quarter
Fiscal Year 2027 Results as Omni One Orders Increase 150% Following Meta Launch
Orders Increased 72% Year-over-Year
and Approximately 150% Since the Launch of Omni One for Quest as Meta Launch Drives Accelerating Consumer Demand
Gross Profit Increased 29%; Gross Margin Expanded to
30% from 17%
Defense Expansion Accelerates
with Counter-UAS Trainer and Infantry Fireteam Trainer for U.S. Marine Corps, SBIR Phase I Award from U.S. Air Force, and First Deployment
to Air National Guard
Omni One Enterprise Expands to Tesla for
Humanoid Robot Teleoperation, NASA for Moon and Mars Exploration Analog Mission, and Sirica Therapeutics for AI-Driven Healthcare
Management to Host Conference Call Tomorrow
at 8:30 a.m. Eastern Time
AUSTIN, TEXAS – August
19, 2026 – Virtuix Holdings Inc. (NASDAQ: VTIX) (the “Company”), a leading developer of AI-driven, full-body simulation
systems, today reported financial and operational results for the first quarter of fiscal year 2027 ended June 30, 2026.
Key First Quarter Fiscal 2027 Results
and Subsequent Highlights
● New orders for Omni One systems in the quarter increased
72% year-over-year and approximately 150% since the launch of Omni One for Quest compared to the same period last year, with similar
momentum continuing into the current quarter.
● Net sales were $0.8 million compared to $1.0 million in the
prior-year period, which benefited from fulfilment of the final batch of legacy backlog accumulated since 2023. Current-quarter revenue
was generated from newly acquired customers.
● Gross profit increased 29% and gross margin expanded to 30%
from 17% in the prior-year period, reflecting higher Omni One system pricing.
● Net loss per share narrowed from ($0.28) to ($0.22) per share.
● Advanced its U.S. Marine Corps Infantry Fireteam Trainer
as lead systems integrator with the selection of AVRT to provide weapons tracking and immersive training content. Delivery of the pilot
system to the U.S. Marine Corps in Quantico, VA, is expected in the fourth calendar quarter of 2026.
● Entered the counter-drone training market through integration
with LeadTech’s Counter-UAS Personnel Trainer for evaluation by the U.S. Marine Corps.
● Awarded U.S. Air Force funding under Phase I of the AFWERX
SBIR program to advance development of its Virtual Terrain Walk (“VTW”) platform for military mission planning and leader
rehearsals.
● Delivered an Omni One system to the Pennsylvania Air National
Guard for use of AI-driven virtual reality military training, marking the Company’s first deployment with the Air National Guard.
● Sold its first Omni One Enterprise system to Tesla, Inc.
for the company’s Optimus humanoid robot division, where the system is being used for teleoperation, enabling an operator to remotely
control a humanoid robot in real time.
● Won the Company’s second consecutive 2026 Auggie Award
for Best Interaction Product at Augmented World Expo, recognizing Omni One as part of a humanoid robot teleoperation system developed
with the University of Central Florida’s Institute for Simulation & Training.
● Selected for NASA’s Moon and Mars Exploration Analog
(MMEA) mission, with Omni One supporting simulated extravehicular activities during a year-long study beginning in 2027.
● Partnered with Sirica Therapeutics to advance AI-driven autism
therapy, delivering two Omni One systems to its treatment center. Sirica plans to establish approximately 100 treatment centers nationwide.
Management Commentary
“The first quarter of fiscal
2027 was one of the strongest commercial quarters in our Company’s recent history,” said Jan Goetgeluk, CEO of Virtuix. “New
orders for Omni One systems increased 72% year-over-year, and have increased approximately 150% since the launch of Omni One for Quest
in collaboration with Meta, a trend we have seen continue into the current quarter.
“While reported revenue was
lower year-over-year, that comparison reflects the completion of our legacy preorder backlog: revenue in the prior-year period was driven
largely by the fulfillment of the final batch of the large backlog of Omni One orders accumulated since the start of our preorder period
in August 2023, whereas revenues this quarter resulted from sales to newly acquired customers. We believe new orders are the better forward
indicator of the accelerating demand we are currently seeing.
“Our unit economics also continued
to improve. Gross profit increased 29% year-over-year and gross margin expanded to 30% from 17%, primarily reflecting the higher selling
price of the complete Omni One system in the first quarter of fiscal 2027 compared to the price of units delivered in the prior-year period.
We ended the quarter with $7.4 million of cash.
“The launch of the Made for
Meta certified Omni One for Quest has expanded our addressable market to millions of active Quest users and is already reshaping our order
profile. We believe it represents an important step toward our goal of driving continued consumer sales growth and bringing our immersive,
physically engaging entertainment experience to millions of households nationwide. We believe we are only scratching the surface of the
potential of our Meta partnership, as we are exploring joint marketing opportunities and the bundling of Virtuix and Meta products.
“Our defense business continues
to gain momentum. As lead systems integrator, we’re advancing the development of the U.S. Marine Corps Infantry Fireteam Trainer,
while also expanding into the counter-drone training market through LeadTech’s C-UAS Personnel Trainer, and we completed our first deployment
with the Air National Guard.
2
“We are also
pursuing inorganic growth in the defense sector. Our special committee is actively reviewing acquisition opportunities in the defense
training and simulation industry, with a focus on companies with annual revenues in the $10 million to $50 million range that would provide
immediate access to government contract vehicles and recurring defense revenues.
“Beyond defense, we expanded
into enterprise robotics through our first sale to Tesla’s Optimus program, were selected for NASA’s moon and mars mission, and earned
our second consecutive Auggie Award, demonstrating the expanding commercial potential of Omni One.”
“In healthcare, we signed
a strategic partnership with Sirica Therapeutics and shipped two Omni One systems to Sirica’s San Francisco Bay Area treatment center
to advance AI-driven autism therapy. Sirica announced plans to establish approximately 100 treatment centers nationwide, and we believe
full-body movement within AI-enabled environments may play an increasingly important role across next-generation healthcare and therapeutic
applications.
“Looking ahead, we are focused
on converting the order momentum we are seeing in our consumer business into accelerating revenue growth, advancing our defense programs
toward larger awards, completing one or more acquisitions in the defense space, and expanding into enterprise robotics and healthcare
applications. Through our multi-use platform strategy, we intend to complement high-volume consumer sales with high-value defense and
enterprise contracts, including recurring revenues from software licensing and customized simulation development. We look forward to additional
updates in the coming months as we seek to bring long-term value to our stockholders,” concluded Goetgeluk.
First Quarter Financial Results
Net sales for the three months ended
June 30, 2026 were $0.8 million, a 26% decrease compared to $1.0 million for the prior year period. The overall higher revenue in the
three months ended June 30, 2025 was primarily attributable to the fulfillment of the final batch of the large backlog of Omni One orders
accumulated since the start of the preorder period in August 2023, whereas revenues in the first quarter of fiscal 2027 resulted from
sales to newly acquired customers. New orders for Omni One systems increased 72% in the three months ended June 30, 2026 compared to the
same period last year.
Gross profit in the three months
ended June 30, 2026 increased 29% to $227,158, compared to $176,077 in the prior year period. Gross margin as a percentage of revenues
expanded to 30% in the three months ended June 30, 2026, from 17% in the prior year period. The improvement was primarily the result of
the higher selling price of the complete Omni One system in the first quarter of fiscal 2027 compared to the price of units delivered
in the prior-year period.
Total operating expenses increased
by $1.9 million, or 86%, to $4.1 million in the three months ended June 30, 2026, compared to $2.2 million in the prior year period. The
increase was primarily due to a non-cash $0.7 million increase in stock compensation expense and a $1.2 million increase in professional
services fees related to operating as a publicly traded company, including legal, accounting, investor relations, and other professional
services.
Total other expense was $3.2 million
in the three months ended June 30, 2026, compared to $0.2 million in the prior year period. The increase was primarily attributable to
non-cash expenses, including $2.5 million of interest expense and non-cash amortization of debt discount related to the Company’s
convertible notes.
3
Net loss for the three months ended
June 30, 2026 was ($7.2) million compared to ($2.3) million for the three months ended June 30, 2025. The increase in net loss primarily
reflects $4.0 million of non-cash charges and higher operating expenses, partially offset by the improvement in gross profit.
Adjusted EBITDA loss for the three
months ended June 30, 2026 was ($3.1) million, compared to a loss of ($1.9) million for the three months ended June 30, 2025.
Net loss per basic and diluted share
for the three months ended June 30, 2026 was ($0.22), compared to ($0.28) for the prior year period.
Cash and cash equivalents totaled
$7.4 million as of June 30, 2026, compared to $9.5 million as of March 31, 2026.
First Quarter Fiscal Year 2027 Financial
Results Conference Call
Virtuix Founder, Chief Executive
Officer, and Chairman Jan Goetgeluk and Chief Financial Officer Thomas McGinnis will host the conference call, followed by a question-and-answer
period. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed following the call
via the investor relations section of the Company’s website here.
To access the call, please use the
following information:
Date: Thursday, August 20, 2026
Time: 8:30 a.m. Eastern time
U.S. dial-in: 1-877-425-9470
International dial-in: 1-201-389-0878
Conference ID: 13761831
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1770243&tp_key=19ebd0fc8f
A telephone replay will be available
approximately three hours after the call and will run through Thursday, September 3. To listen, please dial 1-844-512-2921 (U.S.) or 1-412-317-6671
(international) and use replay PIN 13761831. A webcast replay will also be available on the Company’s investor relations website.
Note About Non-GAAP Financial Measures
Adjusted EBITDA is a non-GAAP financial
measure. The Company defines Adjusted EBITDA as net loss adjusted to exclude: (i) provision for (benefit from) income taxes, (ii) interest
expense, net, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) financing expense, (vi) loss on extinguishment
of debt, and (vii) gains or losses from changes in the fair value of financial instruments. Adjusted EBITDA is not calculated in accordance
with U.S. generally accepted accounting principles (“GAAP”) and should not be considered in isolation or as a substitute for
net loss or any other measure of performance calculated in accordance with GAAP. The Company believes Adjusted EBITDA provides useful
supplemental information to investors regarding the performance of its ongoing operations, and management uses it to evaluate operating
performance and allocate resources. Because Adjusted EBITDA is not determined in accordance with GAAP and is susceptible to varying calculations,
it may not be comparable to similarly titled measures presented by other companies. A reconciliation of net loss, the most directly comparable
GAAP measure, to Adjusted EBITDA is presented below.
4
For the Three Months Ended
June 30,
2026
2025
(Unaudited)
Reconciliation of GAAP net loss to Adjusted EBITDA
NET LOSS
$ (7,170,566 )
$ (2,307,155 )
Plus:
Taxes
49,391
23,418
Interest expense, net(1)
2,539,429
119,114
Depreciation and amortization
142,953
158,776
EBITDA
$ (4,438,793 )
$ (2,005,847 )
Plus:
Stock-based compensation(2)
722,937
10,897
Financing expense(3)
584,150
0
Loss on extinguishment of debt
431,224
122,864
Less:
Change in fair value of financial instruments
(372,350 )
0
ADJUSTED EBITDA
$ (3,072,832 )
$ (1,872,086 )
(1) Interest expense for the three months ended June 30, 2026 includes
$2,052,255 of non-cash amortization of debt discount related to the Company’s financing arrangements. The debt discount results
from the issuance of warrants, original issue discounts, related closing costs, and embedded derivative bifurcation, which are being
amortized to interest expense over the term of the notes.
(2) Stock-based compensation expense for the three months ended
June 30, 2026 consisted of non-cash expenses of $103,080 related to equity awards granted to vendors and service providers and $619,857
related to equity awards granted to employees, officers, and directors. Stock-based compensation expense for the three months ended June
30, 2025 consisted entirely of employee, officer, and director awards.
(3) Financing expense represents a non-cash charge recognized in
connection with amendments to certain outstanding warrants during the three months ended June 30, 2026.
About Virtuix
Virtuix Holdings Inc. (NASDAQ:
VTIX) is a leading manufacturer of AI-driven, full-body simulation systems for consumer, enterprise, healthcare, and defense markets.
The company’s premier portfolio of “Omni” omni-directional treadmills enables players to walk and run in 360 degrees
without boundaries inside AI-generated worlds. With a focus on immersive entertainment, defense training, and enterprise applications,
Virtuix continues to push the boundaries of full-body XR and AI-driven immersive experiences for users worldwide. For more information,
visit virtuix.com.
Please visit the Company’s new Investor Relations website
at invest.virtuix.com.
5
Cautionary Note Regarding Forward-Looking
Statements
This press release
contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to,
statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other
statements that are other than statements of historical facts. When the Company uses words such as “may,”
“will,” “intend,” “should,” “believe,” “expect,” “would,”
“potential,” “continue,” “focused,” “looking ahead,” “plans to,”
“seek to,” or similar expressions that do not relate solely to historical matters, it is making forward-looking
statements. Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s
expectation that recent new order growth will continue and will convert into future revenue growth, including statements about
accelerating consumer demand and similar momentum continuing into the current quarter; the Company’s plans to pursue strategic
acquisitions in the defense training and simulation industry, including its focus on companies with annual revenues in the $10
million to $50 million range and the potential benefits, synergies, and impact on revenues or shareholder value of any such
acquisition; the Company’s position in the defense training market and plans to advance its defense programs toward larger
awards; the anticipated timing and scope of the U.S. Marine Corps Infantry Fireteam Trainer program, including expected delivery of
the pilot system to Quantico, VA in the fourth calendar quarter of 2026; the outcome of counter-drone and other military
evaluations, including the LeadTech Counter-UAS Personnel Trainer for evaluation by the U.S. Marine Corps; expectations regarding
government contract opportunities, including AFWERX SBIR Phase I funding and potential Phase II and Phase III funding; expectations
regarding the Meta collaboration and the Omni One for Quest launch, including potential joint marketing opportunities and bundling
of Virtuix and Meta products, and the Company’s goal of driving continued consumer sales growth and bringing its experience to
millions of households nationwide; expectations regarding enterprise and robotics applications, including the Company’s
relationship with Tesla’s Optimus humanoid robot program; expectations regarding the NASA Moon and Mars Exploration Analog
mission, including simulated extravehicular activities during a year-long study beginning in 2027; expectations regarding
therapeutic and healthcare applications, including the Sirica Therapeutics partnership and Sirica’s plans to establish
approximately 100 treatment centers nationwide; statements regarding future gross margin improvement and unit economics; statements
regarding the Company’s multi-use platform strategy, including complementing high-volume consumer sales with high-value
defense and enterprise contracts and recurring revenues from software licensing and customized simulation development; and
statements regarding future market growth, demand, and bringing long-term value to stockholders. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the
Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks
including, but not limited to: the Company’s ability to convert new orders into revenue; the Company’s need for
additional capital and its ability to obtain financing on acceptable terms or at all; the Company’s limited cash runway and
the substantial doubt regarding the Company’s ability to continue as a going concern, as disclosed in the Company’s
latest Quarterly Report on Form 10-Q; the Company’s ability to meet its convertible note and other debt obligations when due;
risks related to the Company’s outstanding indebtedness; the Company’s ability to identify, negotiate, and complete
acquisitions on favorable terms or at all; the ability to successfully integrate any acquired business; the ability to achieve
anticipated synergies, revenues, or shareholder value from any acquisition; risks related to government contracting, including
contract cancellations, modifications, or funding changes; uncertainties regarding the timing and success of defense program
milestones, evaluations, and deployments; the uncertainties related to market conditions, including consumer demand for virtual
reality products; the Company’s ability to maintain its collaboration with Meta and achieve anticipated benefits therefrom;
risks related to partnerships and collaborations with third parties, including Tesla, NASA, Sirica Therapeutics, and other
enterprise customers; risks related to international expansion; competition in the virtual reality, defense training, and simulation
markets; and other factors discussed in the “Risk Factors” section of the Company’s filings with the SEC. For
these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press
release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at
www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof, except as required by law.
Visit Us on Social Media:
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Company Contact
Lauren Premo
Virtuix Holdings
Inc.
press@virtuix.com
Investor Relations Contact
Chris Tyson
MZ Group
Direct: 949-491-8235
VTIX@mzgroup.us
6
VIRTUIX HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
JUNE 30, 2026 (UNAUDITED) AND MARCH 31, 2026
ASSETS
June 30,
2026
March 31,
2026
(As Revised)
CURRENT ASSETS
Cash and cash equivalents
$ 7,443,869
$ 9,471,288
Receivables, net of allowance for credit losses
465,403
379,289
Inventory
1,373,385
1,188,623
Prepaids and other current assets
764,516
897,109
TOTAL CURRENT ASSETS
10,047,173
11,936,309
NONCURRENT ASSETS
Property and equipment
1,414,460
1,413,294
Less: accumulated depreciation
(1,066,258 )
(1,034,984 )
Net property and equipment
348,202
378,310
Intangibles
2,802,690
2,797,741
Less: accumulated amortization
(1,370,066 )
(1,258,387 )
Net intangibles
1,432,624
1,539,354
Investment in joint venture
-
40,619
Other assets
50,975
87,264
Right-of-use asset - operating
701,512
779,514
TOTAL NONCURRENT ASSETS
2,533,313
2,825,061
TOTAL ASSETS
$ 12,580,486
$ 14,761,370
7
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
June 30,
2026
March 31,
2026
(As Revised)
CURRENT LIABILITIES
Accounts payable
$ 662,290
$ 721,792
Accrued expenses
588,772
559,517
Deferred revenue
639,551
666,327
Gift card liability
445,744
446,252
Current portion of notes payable, net of discount and unamortized deferred loan costs
9,658,998
5,328,477
Derivative liabilities at fair value
1,900,649
2,709,817
Current portion of EIDL loan
576
570
Lease liability - operating
256,966
286,702
TOTAL CURRENT LIABILITIES
14,153,546
10,719,454
LONG-TERM LIABILITIES
Notes payable, net of discount and unamortized deferred loan costs
1,039,518
2,428,835
EIDL loan
23,371
23,517
Lease liability, net of current portion - operating
444,546
492,812
TOTAL LONG-TERM LIABILITIES
1,507,435
2,945,164
TOTAL LIABILITIES
15,660,981
13,664,618
STOCKHOLDERS’ (DEFICIT) EQUITY
Class A common stock, $.001 par value, 300,000,000 shares authorized at June 30, 2026 and March 31, 2026 and 28,898,026 and 28,562,693 shares issued and outstanding at June 30, 2026 and March 31, 2026, respectively
28,897
28,562
Class B common stock, $.001 par value, 50,000,000 shares authorized at June 30, 2026 and March 31, 2026 and 4,000,000 shares issued and outstanding at June 30, 2026 and March 31, 2026
4,000
4,000
Additional paid-in capital
83,403,609
80,410,625
Accumulated deficit
(86,517,001 )
(79,346,435 )
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY
(3,080,495 )
1,096,752
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
$ 12,580,486
$ 14,761,370
8
VIRTUIX HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED JUNE 30, 2026 AND 2025 (UNAUDITED)
Three Months Ended
June 30,
2026
2025
SALES
$ 767,300
1,032,136
COST OF GOODS SOLD
540,142
856,059
GROSS PROFIT
227,158
176,077
OPERATING EXPENSES
Selling expenses
738,978
1,049,658
General and administrative expenses
3,080,778
959,392
Research and development expenses
309,375
208,716
TOTAL OPERATING EXPENSES
4,129,131
2,217,766
LOSS FROM OPERATIONS
(3,901,973 )
(2,041,689 )
OTHER INCOME (EXPENSE)
Loss on disposal of assets
(5,132 )
-
Interest income
163
185
Other income
9,002
-
Loss on extinguishment of debt
(431,224 )
(122,864 )
Loss on derecognition of equity method investment
(40,619 )
-
Change in fair value of derivative liabilities
349,128
-
Change in fair value of debt
23,222
-
Interest expense
(2,539,592 )
(119,299 )
Financing expense
(584,150 )
-
TOTAL OTHER EXPENSE, NET
(3,219,202 )
(241,978 )
PROVISION FOR INCOME TAX
49,391
23,418
SHARE OF LOSS IN JOINT VENTURE
-
(70 )
NET LOSS
$ (7,170,566 )
$ (2,307,155 )
Weighted average common shares outstanding:
Basic and Diluted
32,787,960
8,259,732
Net loss per share:
Basic and Diluted
$ (0.22 )
$ (0.28 )
9
VIRTUIX HOLDINGS INC. AND
SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED JUNE 30, 2026 AND 2025 (UNAUDITED)
Three Months Ended
June 30,
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$ (7,170,566 )
$ (2,307,155 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense
142,953
158,776
Amortization of discount on notes payable
2,052,255
973
Amortization of loan costs
270,970
1,125
Credit loss expense
6,094
36,918
Lease expense - right of use operating
78,002
68,170
Stock-based compensation
619,857
10,897
Change in fair value of derivative liabilities
(349,128 )
-
Change in fair value of debt
(23,222 )
-
Loss on disposal of assets
5,132
-
Loss on derecognition of the equity method investment
40,619
-
Share of loss in joint venture
-
70
Warrant modification expense
584,150
-
Loss on extinguishment of debt
431,224
122,864
Stock issuance in exchange for services
103,080
-
Payments on operating leases
(91,244 )
(82,591 )
Due from related parties
-
21,345
(Increase) decrease in assets:
Prepaid expenses and other current assets
132,593
17,993
Accounts receivable
(92,208 )
(53,222 )
Other assets
36,289
810
Inventory
(184,762 )
292,557
Increase (decrease) in liabilities:
Accounts payable
(59,502 )
351,188
Accrued expenses
186,627
193,645
Gift card liability
(508 )
-
Operating lease liabilities
13,242
14,421
Deferred revenue
(26,776 )
(339,906 )
CASH USED IN OPERATING ACTIVITIES
(3,294,829 )
(1,491,122 )
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for purchases of property and equipment
(6,298 )
(1,304 )
Cash paid for purchases of intangibles
(4,949 )
(2,192 )
CASH USED IN INVESTING ACTIVITIES
(11,247 )
(3,496 )
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of preferred stock
-
1,493,873
Payments on short-term notes payable
(4,603 )
(110,992 )
Payments on long-term notes payable
(140 )
(134 )
Proceeds from short-term notes payable
-
217,678
Warrants exercised
1,380,000
79
Equity issuance costs
(96,600 )
-
CASH PROVIDED BY FINANCING ACTIVITIES
1,278,657
1,600,504
NET (DECREASE) INCREASE IN CASH
(2,027,419 )
105,886
CASH AT BEGINNING OF PERIOD
9,471,288
477,908
CASH AT END OF PERIOD
$ 7,443,869
$ 583,794
10
EX-99.2 — PRESENTATION MATERIALS DATED AUGUST 20, 2026
EX-99.2
Filename: ea030276701ex99-2.htm · Sequence: 3
Exhibit 99.2
First Quarter Fiscal 2027 Earnings Results Quarter Ended June 30, 2026 August 20, 2026 NASDAQ: VTIX Presenters: Jan Goetgeluk, CEO | Thomas McGinnis, CFO
Disclaimer & Forward-Looking Statements This presentation may contain forward-looking statements and information relating to, among other things, the Company, its business plan and strategy, and its industry. These statements reflect management's current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the Company's actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements, as they contain hypothetical illustrations of mathematical principles, are meant for illustrative purposes, and do not represent guarantees of future results, levels of activity, performance, or achievements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Forward-looking statements in this presentation include, without limitation, statements regarding the Company's expectation that recent new order growth will continue and will convert into future revenue; the Company's plans to pursue strategic acquisitions and the potential benefits, synergies and impact on revenues or shareholder value of any such acquisition; the Company's position in the defense training market; the anticipated timing and scope of the U.S. Marine Corps Infantry Fireteam Virtual Trainer program and expected delivery to Quantico; the outcome of counter-drone and other military evaluations; expectations regarding government contract opportunities including AFWERX SBIR Phase II and Phase III funding; expectations regarding the Meta collaboration and the Omni One for Quest launch; expectations regarding enterprise and robotics applications including the Company's relationship with Tesla; expectations regarding the NASA Moon and Mars Exploration Analog mission; and expectations regarding therapeutic and healthcare applications including the Sirica Therapeutics partnership. Such statements are subject to risks including the Company's ability to convert new orders into revenue; its need for additional capital and ability to obtain financing on acceptable terms; risks related to its outstanding indebtedness; its ability to identify, negotiate, and complete acquisitions on favorable terms or at all; the ability to successfully integrate any acquired business; risks related to government contracting, including contract cancellations, modifications, or funding changes; the uncertainties related to market conditions; the Company's ability to maintain its collaboration with Meta; risks related to international expansion; and other factors discussed in the "Risk Factors" section of the Company's filings with the SEC. This presentation includes Adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not calculated in accordance with U.S. GAAP and should not be considered in isolation or as a substitute for net loss or any other GAAP measure. A reconciliation of net loss to Adjusted EBITDA is presented in the financial tables of the Company's earnings release. The forward-looking statements in this presentation represent our views as of the date of this presentation, and we assume no obligation to update or revise them except as required by applicable law. This presentation does not constitute an offer to sell or a solicitation to purchase any securities. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 2
Agenda CORPORATE OVERVIEW KEY HIGHLIGHTS DEFENSE MOMENTUM ENTERPRISE & HEALTHCARE FINANCIAL RESULTS PRIORITIES & OUTLOOK On the Call Today: Jan Goetgeluk Founder, CEO & Chairman Virtuix Holdings Inc. Thomas McGinnis Chief Financial Officer Virtuix Holdings Inc. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 3
Corporate Overview A Leader in AI-Driven, Full-Body Simulation for Consumer, Enterprise, Healthcare and Defense NASDAQ Listed (VTIX): Began trading January 27, 2026; a leading developer of AI-driven, full-body simulation systems across various end markets. Omni One — Flagship Product: Omni-directional treadmill enabling natural 360° full-body movement inside games, simulations, and AI- generated worlds. 5 Products and 25+ Patents: Omni One, Omni One for Quest, and Omni One Core (consumer); Omni One Enterprise; and the Virtual Terrain Walk (VTW) defense system. Manufacturing at Scale: Facility ready for up to 3,000 units/month — $100M+ annual revenue potential at full utilization. Multi-Use Platform Strategy: High-volume consumer sales plus high- value defense and enterprise contracts, with recurring software revenue. Blue-Chip Collaborations: Made for Meta certification, first Omni One Enterprise sale to Tesla's Optimus program, and selection for NASA's Moon and Mars Exploration Analog (MMEA) mission. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 4
Key Highlights FINANCIAL PERFORMANCE +72% New Order Growth Q1 FY2027 vs. Q1 FY2026 30% Gross Margin vs. 17% prior-year period +29% Gross Profit Growth to $0.23M from $0.18M $7.4M Cash & Equivalents at June 30, 2026 STRATEGIC MILESTONES Order Momentum ~2.5X since Meta launch USMC Lead Systems Integrator IFT Counter-UAS Trainer Tesla — Optimus First Enterprise Sale NASA — MMEA Selected for 2027 Mission Sirica Therapeutics AI-Driven Autism Therapy Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 5
Omni One Order Momentum Made for Meta Launch Is Reshaping the Order Profile +72% New Orders Year over year ~150% Since Meta Launch Omni One for Quest Momentum Continuing Order growth has continued into the current quarter. 20M+ Quest Headsets Giving Omni One access to the world's largest XR userbase. Est. 6 Million Active Quest Users Expanding Omni One's addressable market. Room for Additional Growth Exploring joint marketing opportunities and bundling of Meta and Virtuix products. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 6
U.S. Marine Corps Infantry Fireteam Trainer Virtuix Serving as Lead Systems Integrator Virtual Terrain Walk. AI-driven Gaussian splatting converts 360° footage into photorealistic, walkable geo-specific terrain, cutting build time from weeks to hours. AWARDED U.S AIR FORCE SBIR PHASE I FUNDING Lead Systems Integrator Virtuix leads system integration for the IFT pilot, supported by strategic partner KBR. AVRT Selected Selected AVRT to provide tracked weapon systems, instructor tools, and immersive training content. Four-Marine Fireteam Four Marines train together using M4 rifle surrogates and Meta Quest headsets on omni-directional treadmills. Quantico Delivery Delivery to the U.S. Marine Corps in Quantico, Virginia expected in the fourth quarter of 2026. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 7
Entering the Counter-Drone Training Market Omni One Integrated into LeadTech's C-UAS Personnel Trainer U.S. Marine Corps Evaluation Location: Training and Education Command (TECOM), Quantico, Virginia Evaluating teams: MCAGCC Twentynine Palms and Camp Pendleton AI-Enabled C-UAS Trainer LeadTech's platform recreates military training ranges for realistic counter-drone marksmanship training. Full-Body Movement Trainees walk naturally through virtual environments, navigate buildings, and communicate over tactical radios. Realistic Engagements Engage drones with realistic ballistics across individual and multi-user scenarios. Fast-Growing Priority Counter-drone training is among the fastest-growing priorities of Western militaries. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 8
Expanding Defense Momentum Active Engagements Across the U.S. Air Force, Marine Corps, Army, Navy , and Air National Guard U.S. Air Force AFWERX SBIR Phase I for VTW Sales to the USAF Academy and Yokota Air Base Pennsylvania Air National Guard deployment U.S. Marine Corps Lead systems integrator for the Infantry Fireteam Trainer Counter-drone trainer for TECOM evaluation U.S. Army Omni One sold to the U.S. Military Academy at West Point U.S. Navy Signed a Cooperative R&D Agreement (CRADA) with the Naval Postgraduate School Pursuing Strategic Acquisitions. Board special committee is actively reviewing defense training and simulation acquisition targets with annual revenues of $10M–$50M that would provide immediate access to government contract vehicles, past performance, additional sales channels, and recurring defense revenue. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 9
Enterprise Traction: Robotics, Space, and Healthcare Omni One Expanding Well Beyond Its Original Consumer Market Tesla — Optimus Program Sold the first Omni One Enterprise system to Tesla, Inc. for its Optimus humanoid robot division for teleoperation, enabling an operator to remotely control a humanoid robot in real time. First Sale to Tesla Selected for NASA's Moon and Mars Exploration Analog mission. Omni One will support simulated extravehicular activities during a year-long study beginning in 2027. Year-Long Analog Study from 2027 2026 Auggie Award Second consecutive Auggie Award for Best Interaction Product from Augmented World Expo, recognizing Omni One within a humanoid robot teleoperation system built by UCF's Institute for Simulation & Training. Second Consecutive Auggie Win Enterprise Software Upside. Enterprise sales generate high-margin, recurring software licensing and services revenue alongside hardware sales. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 10 NASA — MMEA Mission
Potential Major Vertical: Healthcare & Therapeutics Full-Body Movement Within AI-Enabled Environments Sirica Therapeutics Partnership Strategic partnership to advance AI-driven autism therapy for children. Virtuix delivered two Omni One systems to Sirica's San Francisco Bay Area treatment center. ~100 Planned Treatment Centers Sirica announced plans to establish approximately 100 treatment centers nationwide. U.S. has an est. 12,000 ABA therapy centers, creating a scalable potential channel for Omni One Enterprise. University Research Collaborations Rutgers University's WINLAB is applying Omni One to AI- assisted neurodivergent therapy and behavioral analytics. Florida Gulf Coast University's Marieb College is evaluating it for physical therapy and neuro-rehabilitation. Next-Generation Therapeutics Management believes full-body movement within AI-enabled environments may play an increasingly important role across next-generation healthcare and therapeutic applications. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 11
Financial Results — Revenue, Gross Profit & Gross Margin Three Months Ended June 30, 2026 vs. Prior-Year Period Net Sales ($000s) $1,032 Q1 FY2026 $767 Q1 FY2027 Gross Profit ($000s) $176 Q1 FY2026 $227 Q1 FY2027 Gross Margin 17% Q1 FY2026 30% Q1 FY2027 New orders grew 72% year over year — and approximately 150% since the launch of Omni One for Quest, with momentum continuing into the current quarter. Net sales declined 26% to $0.8M from $1.0M — the prior-year period included the final batch of the legacy Omni One preorder backlog; this quarter's revenue came from newly acquired customers. Gross margin expanded to 30% from 17% — on higher Omni One system pricing compared to the prior-year period. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 12
Financial Results — Operating Expenses & Operating Loss Three Months Ended June 30, 2026 vs. Prior-Year Period Total Operating Expenses ($000s) $2,218 Q1 FY2026 $4,129 Q1 FY2027 Loss from Operations ($000s) ($2,042) Q1 FY2026 ($3,902) Q1 FY2027 Total OpEx ▲86% G&A ▲$2.1M Selling ▼$0.3M R&D ▲$0.1M Net Loss: Q1 FY'27 ($7.2M) vs. Q1 FY'26 ($2.3M). The increase reflects $4.0M of largely non-cash charges, including $2.5M of non-cash interest expense and debt-discount amortization— plus higher operating expenses, partially offset by improved gross profit. OpEx growth includes $0.7M of non- cash stock-based compensation. Net loss per share was ($0.22) vs. ($0.28), reflecting a substantially higher weighted average share count. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 13
Adjusted EBITDA (Non-GAAP) Reconciliation of Net Loss to Adjusted EBITDA — Three Months Ended June 30 ($ in 000's) Q1 FY2027 Q1 FY2026 Net loss ($7,171) ($2,307) Interest expense 2,540 119 Interest income (0) (0) Provision for income tax 49 23 Depreciation and amortization 143 159 EBITDA ($4,439) ($2,006) Stock-based compensation 723 11 Financing expense (warrant modification) 584 — Loss on extinguishment of debt 431 123 Gain on change in fair value of financial instruments (372) — ADJUSTED EBITDA ($3,073) ($1,872) Adjusted EBITDA is a non-GAAP measure defined as net loss before interest, income taxes, and depreciation and amortization, further adjusted to exclude stock-based compensation and certain non-cash and non-recurring items. It is not a substitute for net loss or any other GAAP measure. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 14
Balance Sheet Summary June 30, 2026 vs. March 31, 2026 ($ in 000's) Jun 30, 2026 Mar 31, 2026 Change / Comments Cash & Equivalents $7,444 $9,471 – $2,027 Total Assets $12,580 $14,761 – $2,181 Total Liabilities $15,661 $13,665 + $1,996 Notes Payable (current + LT) $10,699 $7,757 + $2,941 (incl. convertible notes) Stockholders' Equity (Deficit) ($3,080) $1,097 – $4,177 Accumulated Deficit ($86,517) ($79,346) – $7,171 The quarter's $2.0 million decline in cash and the move to a stockholders' deficit reflect the operating loss and non-cash charges on the Company's convertible notes; management continues to manage the balance sheet to support the growth opportunity ahead. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 15
L O O K I N G A H E A D Priorities & Outlook Accelerate consumer revenue growth Continue the order momentum following the Omni One for Quest launch and accelerate revenue growth with Meta partnership. Advance Defense Programs Deliver the USMC Infantry Fireteam Trainer to Quantico in Q4 2026, complete Air Force Phase I SBIR, and advance programs toward larger awards. Advance Defense M&A Complete one or more acquisitions with $10M–$50M of revenue, adding contract vehicles, past performance, sales channels, and recurring defense revenue. Expand Enterprise Sales Build on the Tesla Optimus sale, NASA MMEA selection, and other recent enterprise traction to grow high-margin Omni One Enterprise sales. Build Healthcare/ Therapeutics Channel Develop therapeutics vertical with Sirica Therapeutics and other ABA partners, and obtain clinical validations from university research collaborations. Drive Toward Profitability Build on 30% gross margin, continue to grow revenue, and add high-value defense and enterprise contracts to drive toward profitability. Virtuix Holdings Inc. (NASDAQ: VTIX) | First Quarter Fiscal 2027 Earnings Presentation | August 20, 2026 16
THANK YOU QUESTIONS & ANSWERS NASDAQ: VTIX Investor Relations Chris Tyson Executive Vice President, MZ Group 949-491-8235 VTIX@mzgroup.us Company Contact: Lauren Premo | press@virtuix.com | invest.virtuix.com 17
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
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X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
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dei_LocalPhoneNumber
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
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Namespace Prefix:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
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Data Type:
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Balance Type:
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- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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