Virtuix Q4 2026 Earnings Call Transcript

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Provided by Quartr
June 25, 2026

Key Takeaways

  • Positive Sentiment: Virtuix said fiscal 2026 revenue rose 18% year over year to $4.3 million, with December new unit sales up 60% versus the prior year, driven by stronger consumer demand for Omni One.
  • Positive Sentiment: Gross margin improved sharply to 25% from -6% a year ago, while operating expenses fell 19%, showing materially better operating efficiency.
  • Positive Sentiment: The company ended the year with $9.5 million in cash versus just $0.5 million a year earlier, and stockholders’ equity turned positive at $3 million.
  • Positive Sentiment: Virtuix highlighted a major consumer expansion with the launch of Omni One for Quest through Meta’s Made for Meta program, which it believes significantly broadens its addressable market across Quest users.
  • Neutral Sentiment: Management emphasized growing traction in defense and potential M&A, including awards and programs with the Air Force, Marine Corps, Navy, and Army, but noted larger contracts and any acquisition would take time to materialize.
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Earnings Conference Call
Virtuix Q4 2026
00:00 / 00:00

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Operator

Good morning, welcome to the Virtuix Earnings Conference Call for the full fiscal year 2026, ending March 31, 2026. All lines have been placed on listen-only mode, the floor will be open for your questions following the presentation. During today's call, we may make statements relating to our goals and objectives for future operations, financial and business trends, business prospects, and management's expectations for future performance that constitute forward-looking statements under federal securities laws. Any such forward-looking statements reflect management's expectations based upon currently available information and are not guarantees of future performance, they involve certain risks and uncertainties that are more fully described in our SEC filings. Our actual results, performance or achievements may differ materially from those expressed in or implied by such forward-looking statements.

Operator

We undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this call. A press release detailing these results was issued this morning and is available on the company's investor relations website at invest.virtuix.com. Hosting today's call are Virtuix founder, Chief Executive Officer, and Chairman, Jan Goetgeluk, and Chief Financial Officer, Thomas McGinnis. They will provide a corporate overview, review key highlights, discuss strategic milestones, cover financial results, and outline the company's priorities and outlook. With that, I'd like to turn the call over to Mr. Goetgeluk.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Thank you, operator. Good morning, everyone. Thank you for joining us to review our results for the fiscal year 2026. Today, we'll walk you through a brief corporate overview, our key highlights for the year, our strategic milestones across consumer, defense, enterprise, and healthcare. Thomas will take you through detailed financial review. Let's get started. Virtuix, we are a leading developer of AI-driven full-body virtual reality systems, now trading on the Nasdaq Global Market under the ticker VTIX since our debut on January 27, 2026. We were honored to ring the Nasdaq opening bell on March 6, which was a nice experience. Our technology enables natural full-body movement in 360 degrees inside virtual worlds, bringing the physical act of walking and running into video games and other applications across enterprise and defense.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Our product portfolio includes five core offerings covered by 25 issued patents, with a 26th patent recently allowed. We have Omni One, Omni One for Quest, and Omni One Core. Those are our flagship consumer products. Omni One Enterprise for industrial training and other enterprise applications, and Virtual Terrain Walk, or VTW, which is our primary defense simulation system. We are hardware experts with a proven track record of execution. We're headquartered in Austin, Texas, with operations in Zhuhai, China, where our manufacturing facility is set up and ready to support up to 3,000 units per month, which would represent over $100 million in annual revenue potential at full utilization. We are ready to scale.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

We pursue a multi-use revenue strategy that includes high-volume consumer gaming and fitness, supplemented by high-value defense and enterprise training, all with recurring revenues from software, games and subscriptions for consumers, and software licensing and custom simulation development for defense and enterprise customers. We're also at the leading edge of AI-driven 3D reconstruction with technologies like Gaussian splatting that transform 360-degree video footage into photorealistic, walkable 3D worlds in just hours. Previously, recreating a real-world environment as an explorable space in virtual reality, well, that could take weeks or several months. Very expensive, very time-consuming. Today, thanks to AI, we can do that in just a few hours. We're applying this technology to our VTW defense system, and it's also driving adoption of our technology in the enterprise space for training. Fiscal 2026 was a transformational year for Virtuix on every front, financial, strategic, and commercial.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Let me briefly walk you through the highlights before we take a deeper dive. Financially, we grew full-year revenue 18% year-over-year to $4.3 million, driven by strong demand for Omni One, including a robust 2025 holiday season. Keep in mind that revenues in fiscal year 2025 primarily stem from fulfilling a large backlog of nearly two years of pre-orders for Omni One. Fiscal year 2026, this most recent year, primarily reflects only new sales of Omni One. Even then, we grew revenues by double digits. If we compare new sales in December 2026, the key holiday month, versus new sales of units in December 2025, well, new sales in December 2026 were up 60% compared to the prior year's, reflecting a strong growth in our consumer segment. Gross margin turned sharply positive, coming in at 25% compared to a negative 6% in the prior year.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

We reduced our operating expenses by 19%. We ended the year with $9.5 million in cash, up from just half a million a year ago. Strategically, we achieved a series of major milestones. We listed on Nasdaq under the ticker VTIX in January, validating our decade-long innovation in full-body XR, while also providing access to capital and the market visibility for us to scale aggressively. We also launched Omni One for Quest through our collaboration with Meta and Meta's Made for Meta program. We expanded globally across the European Union, the United Kingdom, and Canada. Most importantly, we're also seeing strong traction in our defense business with U.S. Air Force SBIR awards, our selection as a lead integrator for a U.S. Marine Corps training system, and a development agreement with U.S. Navy. Last, we also extended our platform into longer-term verticals like healthcare.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Let me turn to these strategic milestones in more detail. One of the most significant developments of the year is the launch of Omni One for Quest in collaboration with Meta. That happened just this past Tuesday. Through Meta's Made for Meta program, Omni One is now certified for the Meta Quest ecosystem and will be featured in the Meta store. More than 20 million Quest headsets have been sold with an estimated 6 million or so active users by recent estimates. For the first time, those users can pair Omni One with their existing Quest headset and game library, enabling them to walk, run, crouch, strafe, jump, all in 360 degrees through a plug-and-play experience. This meaningfully expands Omni One's addressable market and broadens our distribution. Omni One, which some called the Peloton for gamers, also earned meaningful consumer validation in the past year.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

As you know, users can burn up to 700 calories per hour. In addition to being fun, it is also good for your health. Our product now holds a 4.8-star average rating. Omni One also won a 2025 Auggie Award, which is one of our industry's most prestigious awards. At $2,595, about $90 a month with Affirm, Omni One for Quest is also our most successful entry point into full-body VR. We view this as an important step forward for bringing physically active, engaging, full-body virtual reality to a much larger consumer audience. Our international growth is also well underway. Omni One for Quest and Omni One Core are now available across Germany, the U.K., France, and additional EU markets through dedicated storefronts. Most recently, we have also expanded its availability into Canada through our online store.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

This adds a large, high-income, international consumer base for our products. We are also advancing into the medical vertical through university-led validations of our platform. We deployed Omni One at Rutgers University at WINLAB for research and development in AI-assisted neurodivergence therapy, as well as immersive behavior analytics, including autism therapy for children. Similarly, at the Florida Gulf Coast University, faculty there in the Marieb College of Health and Human Services are evaluating Omni One for physical and occupational therapy, neurorehabilitation, fall prevention, and clinical simulations. We believe that in the future, these collaborations can open up new large revenue opportunities within next-generation healthcare and specifically therapeutic applications. That is potentially a third big vertical for our product in addition to consumer and defense. Let us turn to defense.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

A major component of our long-term growth strategy is the defense markets, where we now have active programs across all four branches of the U.S. military. Our vision there is to supplement our high-volume consumer sales with potentially high-value defense contracts. We are experiencing rapid traction for our technology in the defense training and simulation markets. With U.S. Air Force, we recently received an AFWERX SBIR Phase I award for VTW. We have also sold test units to the U.S. Air Force Academy and Yokota Air Force Base. For the U.S. Marine Corps, specifically their Training and Education Command, or TECOM, through their partnership with KBR, we were selected as a lead integrator for a multi-user virtual infantry training system featuring four Omni One treadmills. With U.S. Army, we sold Omni One to the U.S. Military Academy at West Point.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

With U.S. Navy, we signed a cooperative research and development agreement with the Naval Postgraduate School to evaluate Omni One for training and simulation. To further accelerate our position in this market, we also formed a special board committee to evaluate strategic acquisitions in defense training and simulation. We are actively evaluating companies today that provide immediate access to government contract vehicles and recurring defense revenues in the $10 million-$50 million range. In addition to boosting revenues, we believe such an acquisition can provide several other key benefits. That includes positioning Virtuix to expand into larger multi-year contracts, acquiring valuable past performance credentials. Past performance is critical for winning large government contracts. We can acquire that. We also gain access, potentially, to established sales channels and contract vehicles across all branches of U.S. military.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Additionally, we believe there may be meaningful synergies between our 360-degree movement technology, the Omni, and the capabilities of potential acquisition targets, which would result in opportunities for cross-selling, enhanced training solutions, and making contract bids more competitive. We believe this initiative of pursuing M&A in the defense sector is very promising and a potentially major catalyst for our company going forward. Now, the center of defense offering is our Virtual Terrain Walk system with the slogan, "Walk the terrain before you fight on it." Most recently, we demonstrated VTW alongside our Forward Arming and Refueling Point trainer at TSIS, which is a Training and Simulation Industry Symposium, TSIS 2026. We also showed it at the VR/AR's fourth annual Immersive Technology Summit.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Now, VTW is powered by that AI-driven Gaussian splatting technology that I mentioned, which transforms 360-degree footage into photorealistic walkable 3D terrain in just hours. That enables terrain generation in just a few hours, thanks to the use of AI. That enables immersive mission planning, where users can walk geo-specific terrain in 360 degrees for reconnaissance, decision support, and leader rehearsals. This system supports 12 or more distributed stations, enabling multi-user planning across geographically separated sites. Essentially, for the first time here, warfighters can explore the battlefield before we put boots on the ground. We believe that is a revolutionary capability that our defense and our military did not have until now, thanks to our technology. Importantly, beyond the upfront system sale, VTW is designed to generate high-margin recurring revenue from software licensing and customized simulation development. All right.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

With that, I'll hand the call over to Thomas to walk us through the financials.

Thomas McGinnis
CFO at Virtuix

Thank you, Jan, and good morning, everyone. Net sales for the full Fiscal Year 2026 were $4.3 million, an 18% increase from $3.6 million in the prior year. The increase was driven primarily by new sales of Omni One, including a strong 2025 holiday season, whereas prior year sales primarily reflected the fulfillment of legacy Omni One pre-orders placed during our pre-order period that ended in September 2024. Sales of new Omni One and Omni One Core systems were up 60% in December Fiscal Year 2026 compared to the prior year, reflecting strong growth in our consumer segment. The metric I'd like to emphasize most is gross margin. Gross profit improved by $1.3 million to $1 million compared to a gross loss of approximately $0.2 million in the prior year.

Thomas McGinnis
CFO at Virtuix

Gross margin turned positive, reaching 25% compared to negative 6% a year ago. That represents a 31 percentage point improvement and is a meaningful step forward for the business. This improvement was driven by the higher average selling price of the complete Omni One system, lower per-unit manufacturing overhead, and the completion of delivery of nearly all discounted units to our equity crowdfunding investors. Turning to full-year operating expenses. Total operating expenses decreased in fiscal year 2026 by $2.6 million, or 19%, to $11.4 million from $14 million in the prior year, reflecting meaningful cost discipline across the organization. General and administrative expenses declined by $2.2 million, and research and development expenses declined by $1.3 million, partially offset by a $0.9 million increase in selling expenses as we invested in commercial expansion.

Thomas McGinnis
CFO at Virtuix

As a result, loss from operations improved by approximately 27% to $10.3 million, compared to $14.2 million in the prior year. Net loss for the year was $16.8 million, compared to $14.6 million in the prior year. However, it is important to note that this increase was not driven by operating performance, which, again, improved materially year-over-year. Rather, the change was driven by approximately $6.4 million of non-operating costs, the majority of which were non-cash, including interest expense, amortization of debt discount on our convertible notes, and a one-time non-cash warrant modification expense, all related to capital raised during the year. These items sit below the operating line. Turning to our balance sheet liquidity position. We ended the year in a substantially stronger position.

Thomas McGinnis
CFO at Virtuix

Cash and cash equivalents totaled $9.5 million as of March 31st, 2026, compared to $0.5 million a year earlier, an increase of approximately $9 million. Total assets also increased to $14.8 million, compared to $5.8 million in the prior year. On the liability side, total liabilities were $11.7 million, compared to $6.6 million a year ago. Included in the fiscal year 2026 liabilities are $8.5 million of notes payable, net of debt discount. $6.1 million of these notes are convertible and structured to convert into equity rather than require cash repayment. The remainder, $2.4 million of notes, are straight promissory notes with a maturity date of July 1st, 2027, and they are intended to be repaid via 3(a)(9) exchanges into equity prior to their maturity date.

Thomas McGinnis
CFO at Virtuix

In other words, none of our year-end notes payable are intended to require a cash repayment. Importantly, stockholders' equity turned positive, reaching $3 million compared to stockholders' deficit of $0.8 million a year ago, representing a $3.8 million improvement. During the year, we strengthened the balance sheet through warrant exercises, convertible note issuances, and other financing activities. With that, I'll turn the call back over to Jan.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Thank you, Thomas. Looking ahead, our priorities are clear. First, we intend to scale Omni One consumer revenue primarily through the Omni One for Quest rollout, which opens a market of an estimated 6 million active users, while continuing to expand internationally across the EU, UK, Canada, and other markets. Second, we plan to grow the adoption of our technology in the defense sector by advancing VTW across all four branches of U.S. military, pursuing phase II and phase III opportunities, and targeting consistently larger, high-value contracts with recurring software revenue. Third, we plan to complete strategic acquisitions in the defense training and simulation space, targeting government contract vehicles and recurring defense revenue in a range of $10 million-$50 million.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Fourth, we will continue to advance our enterprise and AI initiatives by expanding Omni One Enterprise into the medical vertical and further the development of AI applications, building on our recent collaborations. We also remain focused on improving gross margins with targets of 40% or more in consumer and 70% or more in enterprise through volume price leverage and continued cost optimization. Above all, we remain focused on our path toward profitability, driven by the combination of revenue growth and operating expense discipline, and supplemented by high-value defense and enterprise contracts. Let me leave you with a few key takeaways. First, our commercial momentum is very real. I mean, for the full year, we grew revenue 18%, we turned gross margin positive, and we reduced operating expenses by 19%. Second, our strategic position has never been stronger.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

We're now a Nasdaq-listed company with Omni One for Quest live through Meta, with international storefronts across the EU, U.K., and Canada, with active defense programs across all four U.S. military branches, and with a platform that is further expanding into enterprise AI and healthcare. Lastly, our manufacturing infrastructure is in place to support meaningful scale with capacity for up to 3,000 units per month and more than $100 million in annual revenue potential. We believe we are ready to take Virtuix to the next level to achieve continued growth and create long-term value for our shareholders. With that, we will now open up the call for questions. Operator?

Operator

Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two to remove yourself from the queue. For participants using speaker equipment, it may be necessary to pick up the handset before pressing the star keys. One moment, please, while we pull for questions. Our first question comes from the line of Jack Codera with Maxim Group LLC. Please proceed with your question.

Jack Codera
Analyst at Maxim Group LLC

Hi, this is Jack Codera calling in for Jack Vander Aarde. Thanks for taking my questions. It's nice to see the progress with all the different arms of the U.S. military. You kind of mentioned there what it would take to secure larger contracts. I'm kind of wondering, just big picture, what do you expect the total size of that opportunity to be? What sort of time horizon do you think it would take for some of those larger contracts to materialize?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Hey, good morning, Jack. Thanks for that question. It's a big opportunity. Just to give some numbers, for example, the U.S. Army alone has 117 battalions that could use a VTW system for mission planning and rehearsal. Sort like systems, a 10, 12-user system, simulation system, I mean, contract value probably anywhere from half a million to a million dollars per system. You can multiply that by the number of battalions. That's just the U.S. Army potential on the battalion level. Just one example, the U.S. Marine Corps TECOM project that we have, similar story. That is a system for the training of infantry, a fire team infantry training system that we are the lead integrator on. Sort like systems, if it gets expanded to a 10-person system, it could be, again, half a million, $2 million system over the life of the contract.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

That could be expanded potentially to 20 training bases nationwide for the U.S. Marine Corps. That's just that one specific project we have with the Marine Corps. Those are just a few examples that we have announced today. If we look at everything else that we're working on, the defense market for us is such a big opportunity and could be a major catalyst for growth going forward. We add to that our M&A activity in the space, that will accelerate that momentum and that growth even more, because then we have even faster access to contract vehicles, get past performance on our books to bid on big contracts or win big contracts. Also then again, of course, the revenue side, where we can add to our revenues with a step change in a very meaningful way.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

I think these activities in the defense space that we're pursuing can truly be a game changer for our company and a big catalyst for growth going forward. We're very excited about our traction in the space so far.

Jack Codera
Analyst at Maxim Group LLC

Okay. That's super helpful color. I have one more question, just a little bit. Speaking on geographic coverage, I am just wondering, overall, where are you selling now? In the near future, where do you expect to open any more online storefronts? Is there any areas that you expect to be these incremental additions to drive demand? Thank you.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Yep. Our biggest market is the U.S. That's always been our bread and butter. We recently expanded to Europe and the U.K. That's for Omni One Core and Omni One for Quest. We also recently expanded to Canada with our own online store for all our products. Those are our recent additions. Can we add additional international markets? Yes, we are looking at that. Nothing to announce just yet, but yeah, we will continue to expand our global footprint wherever it makes sense commercially in the future.

Jack Codera
Analyst at Maxim Group LLC

Awesome. Thank you for taking my questions.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Thanks, Jack.

Operator

Thank you. Our next question comes from the line of Gowshihan Sriharan with Singular Research. Please proceed with your question.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Good morning, gentlemen. Can you hear me?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Hey, Gowshihan, good morning.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Hey, good morning, Jan. My first question is on the Omni One for Quest, now that it's live, how are you guys thinking about any kind of cannibalization on the standalone system? When you think about the mix shift towards Quest as the dominant SKU, how are we supposed to think about the net margin effect? Is the volume gain from the Meta install base enough to offset any kind of margin compression? Any color on that?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Yeah, I think margin compression is muted. It's not much there. I think now we have three core offerings on our store. We have Omni One Core for $2,495, that's for PC VR. We have Omni One for Quest, which is $2,595, or with Affirm, that's about $90 a month with Affirm, buy now, pay later. That's really, I think, if you bundle a Quest with that, it would provide a complete system under $3,000 with the Quest library and the Quest name behind it. We find that to be an incredible offering that we believe is going to accelerate our growth on the consumer side. It's a big deal. It's a big milestone for us that we got this launched. We have the Omni One, kind of our complete system that we ship with our headsets, which is now $2,995.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

That's for people that don't have a Quest yet, don't want to buy a Quest, they just want to buy the plug-and-play, everything works out of the box experience. We have that offering as well. Those are our three products now on our store. We do believe that Omni One for Quest will be our most valuable and our dominant offering. We'll see. We just launched it this week. It's been a great launch, and we'll see how we can really drive our sales going forward, and look forward to announcing results on that in the future.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

On the Meta side, what kind of support is Meta providing? Are you in a curated catalog? Does Meta provide any kind of data on the impressions and click-throughs that you can track?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Yeah, we will be. We will be on the official Meta store with the Meta brand behind it. We have a close collaboration with Meta, with weekly or bi-weekly calls. Now that we launched the product, we're going to work even more closely together to really drive the product. We'll see what kind of data they can provide with us over time. That I don't quite know just yet. Yeah, it's been a great collaboration, and we were officially Meta certified and part of the Made for Meta program. It's an official collaboration, which I think from a visibility perspective and a branding perspective, will bring a lot of positives.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Yeah. Okay. On the Omni One side, I know there's a cohort now approaching kind of the second renewal cycle. Can you guys give us a sense of what that two-year renewal rates on those early cohorts are, even directionally? Is the subscription running better than anticipated? How is that performing?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Yeah, very well. I mean, we don't disclose it in our filings, but, as you can imagine, those are on automatic payments for most people and most of our customers. As you can imagine, the churn there is not that high. I don't think we disclose official numbers there. Those recurring revenues from Omni Online is very powerful for us. It really boosts our margins and juices up our revenues in addition to the upfront hardware sale of Omni One, so it's done very well for us.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Got it. I might have, apologize, missed the part where you were talking about the development with the military, but what is the typical timeline for phase I completion to phase II decision with the?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

It depends. It really depends on the contracts, on the branch. We're pursuing various avenues with the Air Force. We have this first SBIR award, that's a three-month project that then very quickly can turn into a phase II. With other branches, the U.S. Marine Corps, for example, that can evolve into a bigger contract rather quickly, depending on what pot of money that will be used to pay for it. It always depends on what money is available, what contract vehicle will be used, what's the bidding process. It can go from a few months to one or two years or more. It really depends on the situation. We're pursuing, and we have programs with various branches and various contract vehicles, so there's not just one standard answer there.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Okay. Now that you're kind of deeply involved in the military bidding process, what is the competitive space in the military evaluation like? Who are your main competitors in the space?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Yeah, the benefit is that regarding movements in virtual environments, I mean, we're the only game in town. We have, of course, our core technology that is patent protected. We're by far the leader in this space. We have a Chinese competitor, a copycat, if you will. Of course, they have no play in the U.S. military space. In so far as adding physical movement to virtual training, we are it. It's really exciting because if you think of it, the military, they have simulators for aircraft, they have simulators for vehicles, tanks. They've never before had simulators for infantry, for ground troops, until today. Until with our technology now, for the first time, infantry, ground troops, war fighters can have this, basically a walking simulator with the Omni. They can walk around without boundaries inside virtual environments.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

10-plus war fighters together can walk around inside virtual worlds for mission planning, mission rehearsal, virtually explore the battlefield before we put boots on the ground. We believe that's a revolutionary capability. I think the military is very excited about that. That's why we're seeing such rapid traction, more rapid than we expected, frankly, rapid traction and momentum for our technology in the defense training space.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Awesome. I'll make this my last question. I'll be remiss if I didn't ask whether, given your verbiage about the M&A, has the landscape broadened or is there something being announced before the end of the calendar year?

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

You broke up there for a second, Gowshihan. You're asking if the landscape of targets has broadened?

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Yes. If there's a chance of something being announced before the end of the calendar year.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Oh, that is definitely the goal. Yes. That would be our goal and our aim, definitely. We are actively reviewing opportunities. We're very excited about that. We think that it's going to have a really positive impact on our top line, on our strategic position in the space, and on accelerating our growth in the defense markets. We are moving that forward at rapid speed as a key priority. We hope to announce something substantial there in the near future, yes.

Gowshihan Sriharan
Gowshihan Sriharan
Analyst at Singular Research

Awesome. Thank you, guys, and good luck for your next year.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Thanks, Gowshihan.

Operator

Thank you. We have reached the end of the question and answer session. I would now like to turn the call back over to Mr. Jan Goetgeluk for his closing remarks.

Jan Goetgeluk
Founder, CEO, and Chairman at Virtuix

Thank you, operator, and thank you all for joining us today. Fiscal 2026 was truly a defining year for us. We became a public company, we launched OmniOne for Quest with Meta, we expanded internationally, and we built a meaningful momentum across consumer defense, enterprise, and also healthcare. I want to thank our team, our partners, our shareholders for your continued support, and we're proud of what we accomplished this year, and we're confident, and I can say this, our team, we are more excited than ever before about the opportunities we have ahead. Thank you for joining. If we were unable to address your question today, please reach out to our investor relations team at MZ Group, and they'll be happy to assist. Thank you again for joining us, and have a great day.

Operator

Thank you. This concludes today's conference, and you may disconnect your lines at this time. We thank you for your participation.

Executives
    • Jan Goetgeluk
      Founder, CEO, and Chairman
    • Thomas McGinnis
      CFO
Analysts
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