Rezolve AI NASDAQ: RZLV reported first-half 2026 revenue of $130.8 million, up from $6.3 million in the prior-year period, as the company expanded its enterprise customer base and continued to build distribution partnerships with major technology and services providers.
Founder, Chairman and CEO Dan Wagner said first-half revenue was nearly three times the company’s revenue for all of 2025. Rezolve’s customer base exceeded 1,640 at the end of the period, compared with more than 950 at year-end 2025. The company cited publicly disclosed relationships with retailers, consumer brands and other enterprises including H&M, ASOS, Ferrero, Myntra, Rakuten Group, Omaha Steaks, Cineplex, Target and Qatar Airways.
Revenue Growth and Full-Year Outlook
Rezolve reaffirmed its expectation for approximately $360 million in fiscal 2026 revenue and said it continues to target at least $500 million in annual recurring revenue, or ARR, exiting the year. The company said its revenue profile is weighted toward the second half, reflecting holiday retail activity, customer campaigns, enterprise deployment schedules and partner-led distribution.
Based on the company’s full-year guidance, second-half revenue would be approximately $229 million, or about 75% above first-half revenue. CFO and COO Arthur Yao said the outlook does not include anticipated acquisitions and is “purely organic” based on the company’s expectations.
Wagner said growth is expected to come from both expansion within existing accounts and new enterprise wins. Existing customers that began with smaller engagements are increasing their commitments, he said, while the company is also being introduced to larger accounts through partners.
Margins, Losses and Liquidity
First-half gross profit rose to $63.9 million from $6 million a year earlier, while gross margin was 48.9%. Yao said the margin reflected the company’s mix of software, professional services, loyalty and platform activities, as well as costs associated with implementing enterprise deployments.
He said loyalty and professional services generally carry lower margins than recurring software, platform revenue and infrastructure licensing. Rezolve expects gross margin to improve as higher-margin agentic commerce platform revenue becomes a larger part of the business mix. Yao said the company’s core-margin business exceeds 90%, though he did not provide a consolidated margin target.
Rezolve reported an operating loss of $128.1 million for the first half, compared with an operating loss of $32.4 million in the prior-year period. The operating loss included $41.5 million of share-based compensation and $20.4 million of depreciation and amortization, according to Yao. Net loss was $139.5 million, compared with $57.9 million a year earlier, after a $4.5 million income tax benefit.
On an adjusted EBITDA basis, Rezolve reported a loss of $32.6 million, which Yao said excludes primarily non-cash expenses and one-time acquisition and restructuring costs. Operating cash use was $96.1 million, while investing cash use totaled $148.3 million, largely related to business combinations, platform development and other investments. Financing activities provided $232.5 million, including about $250 million of gross equity capital raised during the first half.
As of June 30, the company had $33.2 million in cash and cash equivalents and $67.4 million in restricted cash, for total cash of approximately $100.5 million. Yao said restricted cash is not immediately available for general corporate purposes. He said the company did not need additional capital for day-to-day operations, though it may consider debt or other financing structures for strategic opportunities and potential acquisitions.
Partner Distribution and Google Infrastructure Deployment
Management highlighted relationships with Microsoft, Google, Tata Consultancy Services and Tech Mahindra as routes to enterprise customers, implementation capacity and cloud infrastructure. Wagner said the company’s agentic commerce technology is available through Microsoft Foundry and can be deployed on Microsoft Azure, with integrations across Microsoft Dynamics 365 and Microsoft 365 Copilot.
Wagner said Tata Consultancy Services and Tech Mahindra can provide professional services and deployment support for customers, allowing Rezolve to focus on supplying technology. He said selling through these partners can improve Rezolve’s gross-margin profile because the partners handle much of the implementation work. Rezolve has about 700 employees in its professional services group, mainly based in India, he added.
Following the end of the first half, Google selected Rezolve’s proprietary distributed database technology for an infrastructure-level deployment within Google Cloud, according to management. The initial deployment covers approximately 100 terabytes of data across 10 blockchain networks and supports indexing and data pipelines for Google Cloud Web3 datasets.
Wagner described the deployment as external validation of Rezolve’s underlying data infrastructure, which the company has historically used to support its own agentic commerce products. Management did not disclose pricing, contract terms or expected revenue from the Google relationship. Wagner said additional information could become available in coming weeks and that the company is pursuing other infrastructure licensing opportunities.
Rezolve also said its Reward acquisition expanded its loyalty capabilities into more than 15 markets. Management said Reward has relationships with Barclays, Visa, Mastercard, NatWest and Mashreq, and has returned more than $2 billion in cashback to consumers. Following the period end, the company partnered with Zilch, a payments platform serving nearly 6 million customers and driving more than $3.3 billion annually to partner merchants.
Wagner said Rezolve plans to demonstrate its technology stack and commercialization plans at its Nasdaq Investor Day on Oct. 6.
About Rezolve AI (NASDAQ:RZLV)
Rezolve AI, Inc operates a cloud-based engagement platform that connects physical world touchpoints to digital experiences. Through its proprietary Rezolve platform, the company enables brands and marketers to deploy interactive mobile campaigns triggered by NFC-enabled tags, QR codes, short URLs and other proximity-based technologies. These campaigns facilitate in-the-moment product demonstrations, digital promotions and seamless e-commerce transactions without the need to download a dedicated app.
The company’s platform includes a no-code campaign management portal, real-time analytics dashboard and integration tools for customer relationship management, payment processing and third-party marketing systems.
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