Datavault AI Inc. (DVLT) shares climbed more than 13% Monday after the company delivered a triple-digit revenue jump and significantly raised its forward guidance, betting big on the emerging market for tokenized real-world assets.
The company reported third-quarter 2025 revenue of $2.904 million, up 148% from the same period last year and 67% higher than the previous quarter. That's the kind of growth that gets attention, even if the absolute numbers are still relatively small.
But here's the trade-off: Datavault posted a GAAP net loss attributable to common stockholders of $32.976 million, or 33 cents per share. That compares to a loss of $7.345 million, or $1.39 per share, in last year's third quarter. The wider loss reflects the company's aggressive spending as it scales up operations and chases what management sees as a massive opportunity.
Where the Revenue Comes From
Live Events led the revenue mix at $2.221 million, followed by Components at $630,000 and Consumer Audio Products at $53,000. For the first nine months of 2025, total revenue reached $5.268 million, up from $1.772 million in the same period last year.
Operating expenses ballooned to $14.851 million from $5.469 million a year earlier, while cost of revenue increased to $2.809 million. Gross profit for the quarter came in at just $95,000, down from $226,000 in the third quarter of 2024. The margin compression reflects the company's heavy investment phase.
Datavault ended the quarter with $138.7 million in total assets, including $1.683 million in cash and $8.148 million in crypto assets classified as current. The company burned through $23.204 million in operating cash but raised $28.109 million from financing activities during the first nine months of the year.
Big Ambitions Ahead
Here's where things get interesting. Datavault raised its 2025 revenue outlook to a minimum of $30 million—that's more than five times what it generated in the first nine months. Even more striking, the company set 2026 guidance above $200 million, backed by expected licensing activity in its Acoustic Science and Data Science divisions.
Management says dozens of global licensing negotiations are underway for real-world asset tokenization across gold, diamonds, rare-earth metals, carbon credits, sugar, and cotton. That's an eclectic mix, but it speaks to the breadth of assets the company believes can be digitized and monetized on blockchain infrastructure.
CEO Nathaniel Bradley framed the opportunity in sweeping terms: "Our solutions have captured the attention of corporations and governments worldwide that have come to realize the power, cost savings and revenue potential, of advanced data valuation and monetization. As we move into this critical execution phase, each signed contract represents not just revenue today, but a potential recurring licensing stream and strategic footprint in tokenizing trillions of real-world assets."
He added, "With our patented IP, global distribution strategy and scalable business model, Datavault is well positioned to become the central infrastructure partner in the transformation of real-world assets into monetized digital value."
The Triton Deal
Datavault also announced a multi-year services agreement with Triton Geothermal LLC, positioning itself as the exclusive provider of real-world asset digitization, valuation, and structured monetization services for the energy company.
The contract includes up to $8 million in upfront and milestone-based fees tied to Triton's planned $125 million real-world asset offering, plus 5% participation in transaction fees. That kind of revenue structure—combining upfront payments with ongoing participation—could provide meaningful recurring income if the deal performs as expected.
Triton CEO Pietro Castelli said, "The use of Datavault AI's platform is expected to enhance the transparency, compliance, and operational control of tokenized renewable energy assets."
Datavault expects the Triton agreement to support revenue growth through 2025 and 2026 while expanding its presence in energy and infrastructure markets.
Price Action: DVLT shares were trading higher by 13.93% to $2.085 at last check Monday.