Corvex, Inc. MOVE
to the Merger Agreement, as further described below. Following the closing of the Merger, the Company will conduct its operations
through two primary business divisions. Our AI cloud computing business specializes in GPU-accelerated infrastructure for AI workloads
and our healthcare business consists of our wellness ring (formerly referred to as the Evie Ring) (the "Wellness Ring"), a
wearable designed specifically for women that was launched in November 2023.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $433.0K | $1.0M | — | — | — | — | — |
| Cost of revenue | $2.3M | $3.0M | — | — | — | — | — |
| Gross profit | -$1.8M | -$2.0M | — | — | — | — | — |
| R&D | $5.7M | $11.2M | $16.9M | $19.0M | $13.4M | $8.4M | — |
| SG&A | $7.9M | $11.0M | $12.8M | $11.5M | $6.4M | $2.7M | — |
| Total operating expenses | $15.9M | $25.2M | $29.7M | $30.5M | $19.8M | $11.1M | — |
| Operating income | -$15.5M | -$24.2M | -$29.7M | -$30.5M | -$19.8M | -$11.1M | — |
| Interest expense | — | — | — | $133.0K | $883.0K | $1.0M | — |
| Pre-tax income | -$18.3M | — | — | — | — | — | — |
| Net income | -$18.3M | -$23.7M | -$29.3M | -$30.3M | -$21.8M | -$13.0M | — |
| EPS, basic | -21.79 | -39.39 | -9.51 | -0.92 | -0.92 | — | — |
| EPS, diluted | -21.79 | -39.39 | -9.51 | -0.92 | -0.92 | -6.85 | — |
| Shares, diluted (wtd. avg.) | $840.7K | $602.3K | $3.1M | $33.0M | $26.3M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.8M | $7.9M | $6.1M | $10.8M | $17.7M | $5.7M | $4.3M |
| Short-term investments | — | — | — | — | $15.9M | — | — |
| Inventory | $1.8M | $2.0M | $1.1M | — | — | — | — |
| Total current assets | $5.0M | $10.4M | $8.5M | $11.6M | $35.1M | $6.9M | — |
| Property, plant and equipment | $101.0K | $213.0K | $342.0K | $443.0K | $529.0K | $38.0K | — |
| Total assets | $5.6M | $11.3M | $9.4M | $13.2M | $36.3M | $7.1M | — |
| Accounts payable | $3.5M | $2.0M | $3.1M | $557.0K | $311.0K | $246.0K | — |
| Total current liabilities | $8.8M | $3.4M | $5.9M | $5.0M | $3.2M | $1.2M | — |
| Total liabilities | $9.1M | $4.0M | $6.0M | $5.3M | $3.5M | $15.1M | — |
| Retained earnings | -$166.4M | -$148.1M | -$124.4M | -$95.1M | -$64.8M | -$40.9M | — |
| Total equity | -$3.5M | $7.4M | $3.4M | $7.9M | $32.7M | -$40.9M | -$19.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$11.3M | -$22.5M | -$26.2M | -$24.9M | -$16.2M | -$10.7M | — |
| Depreciation and amortisation | $149.0K | $166.0K | $158.0K | $147.0K | $74.0K | $13.0K | — |
| Stock-based compensation | $2.9M | $3.2M | $3.0M | $3.1M | $1.9M | $446.0K | — |
| Capital expenditure | — | $8.0K | $64.0K | $105.0K | $565.0K | — | — |
| Investing cash flow | — | -$8.0K | -$64.0K | $15.7M | -$16.7M | — | — |
| Financing cash flow | $6.2M | $24.3M | $21.6M | $2.3M | $44.8M | $12.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-048135.
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