Rezolve AI PLC (RZLV) Earnings Call Transcript & Summary

Your Board and your management team have failed you. Since the 2020 IPO, they have overseen a 96% destruction of your equity value, offered no credible turnaround plan and allowed Commerce.com to drift into irrelevance. It's now a zombie stock: no volume, no momentum, no vision. You were promised growth, innovation and returns. What you have instead is a leadership team extracting compensation as your capital erodes and the market leaves you behind. Commerce.com has real assets: an installed base of over 60,000 online stores, established enterprise relationships and meaningful recurring revenues. The Board and the management team have squandered them. In the hands of a team that knows how to deploy AI infrastructure at global scale, these assets can become the foundation for something transformational. A combination of Rezolve Ai and Commerce.com doesn't just add. It multiplies. Together, they form a $700 million-plus revenue global powerhouse that is instantly profitable. Commerce.com's enterprise footprint paired with Rezolve Ai's AI-native infrastructure and explosive growth engine unlocks value that current leadership cannot deliver on its own. This is textbook value creation for all shareholders. Combined revenues exceeding $700 million, a customer base supercharged by Rezolve Ai's Brain Suite platform and core software margins above 90%. By deploying Brain Suite and RezolvePay across your network of 60,000 captive merchants we will instantly accelerate our proprietary payment rail rollout and secure robust monetization streams that your current management is fundamentally incapable of realizing. Your Board chose to ignore all of this. They owe you an explanation. We doubt you'll get one. We're now moving forward with a direct offer to you, 2 shares of Commerce.com for 1 share of Rezolve Ai. This reflects a disciplined valuation of your business relative to ours, and it is still far more than your Board's current strategy will ever deliver. Why does this remain your best and likely only move? One, since its 2020 IPO, your stock has lost over 96% of its value. Standalone recovery is a myth. Your Board and management have failed to articulate a credible plan to stop the bleeding while losing enterprise logos to the competition. Two, Commerce.com has become a zombie stock. You may see a price on your screen, but you cannot sell your position because there's low volume. Rezolve Ai trades over 23.6 million shares daily. We're offering you a liquid currency that allows you to manage your own holdings. Three, Wall Street values Rezolve Ai at $11 a share, nearly 4x our current trading price. By exchanging your shares for Rezolve Ai shares at a 2:1 ratio, you are swapping a stagnant asset for $5.50 of an implied value, half of the $11 a share. This is a significant premium over the terminal trajectory your Board and management currently have you on. Four, Rezolve Ai delivered 543% revenue growth in half 2 2025 over half 1, reported $46.8 million in fiscal year '25 revenue and ended the year with $232 million annualized run rate. We've raised 2026 revenue guidance to $360 million, representing a 7.5x year-on-year growth. Commerce.com under its current Board and management is limping along at 3% growth. One is an AI era growth company building category-defining infrastructure. The other is a legacy business in decline under its current leadership. We will proceed to file more detailed information about our offer with the SEC to allow you, the true owners of this company to decide for yourselves. This is not a rescue. It's a transformation. Commerce.com's assets can only reach their full potential as part of a platform that's already powering the future of global commerce. Rezolve Ai is fully funded with more than $750 million in total capital raised and $232 million contracted revenue base and no need for additional operational equity to execute its 2026 mission. By combining the businesses, we create an instantly profitable, self-sustaining global giant. This ends the era of speculative AI and delivers a powerhouse built on real revenue, real margins and real scale. The opportunity in front of you is real. And for Commerce.com shareholders trapped in a collapsing value with low liquidity and failed leadership, it may be the last one that matters. Unshackle Commerce.com's assets and finally see what they were always meant to do, grow, compound and generate real returns. That is the opportunity we are now putting directly in your hands. The choice is yours.