Net Sales Increased 18% to $4.3 Million
Gross Profit Improved by $1.3 Million, Gross Margin Expanded to 25%, and Operating Expenses Decreased by 19%
Cash Position Improved to $9.5 Million
Recent Milestones with All Four U.S. Military Branches Accelerate AI-Driven Defense Training Adoption
Made for Meta Collaboration and Omni One International Launch Significantly Expand Addressable Market Opportunities
Management to Host Conference Call Today at 8:30 a.m. Eastern Time
AUSTIN, Texas, June 25, 2026 (GLOBE NEWSWIRE) -- Virtuix Holdings Inc. (NASDAQ: VTIX) (the "Company"), a leading developer of AI-driven, full-body virtual reality systems, today reported financial and operational results for the fiscal year 2026 ended March 31, 2026.
Figures presented herein are approximate and have been minimally rounded for readability. Investors should refer to the accompanying financial statements and the Company's Annual Report on Form 10-K for exact amounts.
Key Fiscal 2026 Results and Subsequent Highlights
Corporate & Financial
-- Net sales for the year ended March 31, 2026 were $4.3 million, an
increase of $0.7 million, or 18%, compared to $3.6 million for the prior
year period. The increase was primarily driven by new sales of Omni One
in fiscal 2026, compared to order backlog fulfillment in the prior year
period, and included a 60% increase in new orders in December 2025
compared to December 2024, reflecting a strong 2025 holiday season.
-- Gross profit for the year ended March 31, 2026, increased $1.3 million to
$1.0 million from ($0.2) million in the prior year period.
-- Gross margin for the year ended March 31, 2026, increased to 25% from
(6%) in the prior year period.
-- Total operating expenses for the year ended March 31, 2026, decreased
$2.6 million, or 19%, to $11.4 million in the year ended March 31, 2026,
from $14.0 million in the prior year period.
-- Received a Notice of Allowance from the United States Patent and
Trademark Office (USPTO) for its 26th U.S. patent, covering proprietary
innovations in the mechanical design of its latest Omni One
omni-directional treadmill.
-- Listed and began trading on the Nasdaq Global Market under the ticker
symbol "VTIX" on January 27, 2026, and rang the opening bell on March 6.
-- Named to Fast Company's prestigious list of the World's Most Innovative
Companies of 2026.
Defense Momentum
-- Selected by the U.S. Air Force for Phase I funding under the AFWERX SBIR
program to advance development of its Virtual Terrain Walk ("VTW")
platform for military mission planning and leader rehearsals.
-- Assigned by the U.S. Marine Corps Training and Education Command
("TECOM"), through its strategic partner KBR, as the lead integrator for
the development of a multi-user virtual infantry training system.
-- Signed a Cooperative Research and Development Agreement with the U.S.
Navy to evaluate Omni One for military training and simulation
applications.
-- Integrated Omni One into a FARP training simulator developed by Vigilante,
a U.S.-based company focused on advanced military training solutions.
-- Formed a special committee to evaluate potential acquisitions in the
defense training and simulation industry, actively reviewing acquisition
opportunities with revenues in the $10 million-$50 million range.
Consumer and Enterprise Milestones
-- Launched Omni One for Quest in collaboration with Meta, bringing
unrestricted, physical movement to the Meta Quest ecosystem and expanding
the company's addressable market to more than 20 million Meta Quest
Headsets worldwide.
-- Rutgers University deployed Omni One at WINLAB for research and
development focused on AI-assisted neurodivergent therapy and immersive
behavioral analytics applications, including autism therapy for children.
-- Delivered Omni One to Florida Gulf Coast University, where faculty and
students in the Marieb College of Health & Human Services will evaluate
the system for use in physical therapy, occupational therapy,
neurological rehabilitation, fall prevention, and clinical simulation
applications.
-- Demonstrated humanoid robot teleoperation using Omni One in collaboration
with the University of Central Florida's Institute for Simulation &
Training, highlighting Omni One's ability to translate 360-degree natural
walking into real-time robot teleoperation and training.
-- Expanded Omni One sales to Europe and Canada, marking a significant
milestone in the Company's international growth.
Management Commentary
"Fiscal 2026 was transformational for Virtuix as we became a publicly-traded company, launched Omni One for Quest in collaboration with Meta, and advanced our Virtual Terrain Walk (VTW) system for the defense market with leading AI technologies," said Jan Goetgeluk, CEO of Virtuix. "Sales revenue grew 18% year over year to $4.3 million, driven by strong demand for Omni One, while decreasing operating costs 19%, resulting in a significant increase in gross profit to $1.0 million and expansion of gross margin to 25%.
"In the consumer market, our collaboration with Meta through the Made for Meta program has resulted in a significant milestone with the recent launch of Omni One for Quest, bringing unrestricted, physical movement to the Meta Quest ecosystem and expanding the company's addressable market to more than 20 million active Meta Quest headsets. Omni One for Quest will be "Made for Meta" certified and featured in the Meta Store, providing Virtuix exposure to the world's largest XR user base and accelerating our goal of bringing full-body virtual reality to a truly mass audience. We see this as a foundational step in making immersive, physically engaging XR experiences ubiquitous. We are also continuing our international expansion, with Omni One and Omni One Core now available for purchase in Canada and Europe through our online store.
"In the defense market, our VTW system is rapidly gaining momentum, most recently with its selection by the U.S. Air Force for Phase I funding under the AFWERX SBIR program to advance development for military mission planning and leader rehearsals. This award provides a pathway to Phase II funding that typically exceeds $1 million and could lead to larger Phase III opportunities, including sole-source government contracts without pre-defined limits.
"We are collaborating with U.S. Marine Corps Training and Education Command, through our strategic partner KBR, as the lead integrator for the operational assessment of a multi-user virtual infantry training system. If successful, the project could be expanded and deployed to Marine Corps training centers nationwide, supporting broader adoption of VR-based infantry training.
"We have sold systems to the U.S. Army and Air Force and announced a development agreement with the U.S. Navy, underscoring the growing applicability of our technology across multiple military branches and defense environments. We also formed a special committee to evaluate potential acquisitions in the defense training and simulation industry. The committee is actively reviewing multiple acquisition opportunities, with a focus on companies that provide immediate access to government contract vehicles and recurring defense revenues in the $10 million-$50 million range.
"We are also advancing validation of our immersive XR platform within advanced university-led therapeutic research environments. We deployed Omni One at Rutgers University's WINLAB for research and development focused on AI-assisted neurodivergent therapy and immersive behavioral analytics applications, including autism therapy for children. The initiative follows a recent Omni One deployment to Florida Gulf Coast University for evaluation in rehabilitation and clinical simulation applications. We believe full-body movement within AI-enabled environments may play an increasingly important role across next-generation healthcare and therapeutic applications.
"Looking ahead, we are focused on continuing to accelerate growth in our consumer business following the launch of Omni One for Quest with Meta, while continuing to build the foundation for high-value defense contracts and enterprise opportunities. The global military simulation and immersive training market continues to expand rapidly as defense agencies increase investment in AI-enabled readiness technologies. We also see growing demand for new therapeutic solutions. We believe our multi-use strategy will build a diversified mix of high-volume consumer sales and high-value defense and enterprise contracts, all with recurring revenues from software licensing and customized simulation development. We look forward to additional updates in the coming months as we seek to bring long-term value to our shareholders," concluded Goetgeluk.
Fiscal 2026 Financial Results
Net sales for year ended March 31, 2026, were $4.3 million, an 18% increase compared to $3.6 million for the prior year period. This increase is primarily attributable to new sales of Omni One, including strong demand during the 2025 holiday season. In the prior year period, sales primarily stem from fulfillment of legacy Omni One preorders that were placed during our preorder period that ended in September 2024.
Gross profit in the year ended March 31, 2026, increased by $1.3 million to $1.0 million, compared to gross loss of ($0.2) million in the prior year period. Gross margin as a percentage of revenues increased to 25% in the year ended March 31, 2026, from (6%) in the prior year period. The improvement was the result of an increase in the selling price of the complete Omni One system from $2,595 to $3,495 plus shipping, effective since November 2024, lower per-unit manufacturing overhead cost, and the completion of the delivery of nearly all discounted units to equity crowdfunding investors.
Total operating expenses decreased by $2.6 million, or 19%, to $11.4 million in the year ended March 31, 2026, compared to $14.0 million in the prior year period. The decrease was primarily due to a $2.2 million decrease in General and Administrative Expenses and a $1.3 million decrease in Research and Development expenses, partially offset by an increase in Selling Expenses of $0.9 million.
Net loss for the year ended March 31, 2026, was ($16.8) million compared to ($14.6) million for the year ended March 31, 2025. The year-over-year increase in net loss reflects $6.4 million of largely non-cash, non-operating costs, including interest, debt-discount amortization, and a one-time warrant modification tied to capital raised during the year.
Cash and cash equivalents totaled $9.5 million as of March 31, 2026, compared to $0.5 million as of March 31, 2025.
Net cash used in operating activities was $9.5 million in the year ended March 31, 2026, compared to $7.9 million in the year ended March 31, 2025.
Fiscal Year 2026 Financial Results Conference Call
Virtuix Founder, Chief Executive Officer, and Chairman Jan Goetgeluk and Chief Financial Officer Thomas McGinnis will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed following the call via the investor relations section of the Company's website here.
To access the call, please use the following information:
Date: Thursday, June 25, 2026 Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time) Dial-in: 1-877-425-9470 International Dial-in: 1-201-389-0878 Conference Code: 13760097 Webcast: FY2026 Financial Results Conference Call
A telephone replay will be available approximately three hours after the call and will run through July 9, 2026, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13760997. The replay can also be viewed through the webcast link above, and the presentation utilized during the call will be available on the Company's investor relations website here.
About Virtuix
Virtuix Holdings Inc. (NASDAQ: VTIX) is a leading manufacturer of AI-driven, full-body virtual reality systems for consumer, enterprise, healthcare, and defense markets. The company's premier portfolio of "Omni" omni-directional treadmills enables users to walk and run in 360 degrees inside video games, defense simulations, and other immersive virtual reality applications. With a commitment to innovation, Virtuix continues to push the boundaries of XR, spatial computing, and AI-driven immersive experiences. For more information, visit virtuix.com.
Please visit the Company's new Investor Relations website at invest.virtuix.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," "could," "would," "potential" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the Company's plans to pursue strategic acquisitions, the potential benefits of any such acquisition, the expected synergies, the potential impact on revenues or shareholder value, the Company's position in the defense training market, expectations regarding the Meta collaboration and the Omni One for Quest launch, anticipated international expansion in Canada and Europe, expectations regarding therapeutic and healthcare applications, expectations regarding government contract opportunities including Phase II and Phase III funding, and statements regarding future market growth and demand. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the Company's ability to identify, negotiate, and complete acquisitions on favorable terms or at all; the ability to successfully integrate any acquired business; risks related to government contracting, including contract cancellations, modifications, or funding changes; the uncertainties related to market conditions; the Company's ability to maintain its collaboration with Meta; risks related to international expansion; and other factors discussed in the "Risk Factors" section of the Company's registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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Company Contact
Lauren Premo
Virtuix Holdings Inc.
press@virtuix.com
Investor Relations Contact
Chris Tyson
MZ Group
Direct: 949-491-8235
VTIX@mzgroup.us
VIRTUIX HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
MARCH 31, 2026 AND 2025
March 31, March 31,
2026 2025
----------- ----------
CURRENT ASSETS
Cash and cash equivalents $ 9,471,288 $ 477,908
Receivables, net of allowance for
credit losses 379,289 125,672
Inventory 1,188,623 1,456,249
Prepaids and other current assets 897,109 306,153
---------- ---------
TOTAL CURRENT ASSETS 11,936,309 2,365,982
---------- ---------
NONCURRENT ASSETS
Property and equipment 1,413,294 1,321,931
Less: accumulated depreciation (1,034,984) (857,028)
---------- ---------
Net property and equipment 378,310 464,903
---------- ---------
Intangibles 2,797,741 2,792,059
Less: accumulated amortization (1,258,387) (810,356)
---------- ---------
Net intangibles 1,539,354 1,981,703
---------- ---------
Investment in joint venture 40,619 40,689
Other assets 87,264 86,258
Right-of-use asset - operating 779,514 835,488
---------- ---------
TOTAL NONCURRENT ASSETS 2,825,061 3,409,041
---------- ---------
TOTAL ASSETS $14,761,370 $5,775,023
========== =========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
March 31, March 31,
2026 2025
------------ ------------
CURRENT LIABILITIES
Accounts payable $ 721,792 $ 807,401
Accrued expenses 559,517 502,001
Deferred revenue 666,327 1,769,556
Gift card liability 446,252 -
Due to related party - 40,000
Current portion of notes payable,
net of discount and unamortized
deferred loan costs 6,086,943 2,589,976
Current portion of EIDL loan 570 549
Lease liability - operating 286,702 204,051
----------- -----------
TOTAL CURRENT LIABILITIES 8,768,103 5,913,534
----------- -----------
LONG-TERM LIABILITIES
Notes payable, net of discount and
unamortized deferred loan costs 2,428,835 -
EIDL loan 23,517 24,087
Lease liability, net of current
portion - operating 492,812 631,437
----------- -----------
TOTAL LONG-TERM LIABILITIES 2,945,164 655,524
----------- -----------
TOTAL LIABILITIES 11,713,267 6,569,058
----------- -----------
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $.001 par
value, 50,000,000 and
29,300,000 shares authorized
at March 31, 2026 and March
31, 2025, and 0 and 21,688,242
shares issued and outstanding
at March 31, 2026 and March
31, 2025, respectively, with
liquidation preferences
respectively of $0 and
$55,536,941 at March 31, 2026
and March 31, 2025 - 21,688
Class A common stock, $.001 par
value, 300,000,000 and
37,000,000 shares authorized
at March 31, 2026 and March
31, 2025 and 28,562,693 and
8,259,644 shares issued and
outstanding at March 31, 2026
and March 31, 2025,
respectively 28,562 8,259
Class B common stock, $.001 par
value, 50,000,000 and 0 shares
authorized at March 31, 2026
and March 31, 2025 and
4,000,000 and 0 shares issued
and outstanding at March 31,
2026 and March 31, 2025,
respectively 4,000 -
Additional paid-in capital 82,307,384 61,668,608
Accumulated deficit (79,291,843) (62,492,590)
----------- -----------
TOTAL STOCKHOLDERS' EQUITY
(DEFICIT) 3,048,103 (794,035)
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT) $ 14,761,370 $ 5,775,023
=========== ===========
VIRTUIX HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED MARCH 31, 2026 AND 2025
2026 2025
------------ ------------
NET SALES $ 4,252,643 $ 3,590,438
COST OF GOODS SOLD 3,206,021 3,817,815
----------- -----------
GROSS PROFIT (LOSS) 1,046,622 (227,377)
OPERATING EXPENSES
Selling expenses 2,579,748 1,645,147
General and administrative
expenses 7,940,232 10,129,112
Research and development expenses 845,994 2,185,133
----------- -----------
TOTAL OPERATING EXPENSES 11,365,974 13,959,392
----------- -----------
LOSS FROM OPERATIONS (10,319,352) (14,186,769)
OTHER INCOME (EXPENSE)
Interest income 605 1,372
Other income 5,445 -
Loss on extinguishment of debt (122,864) -
Other expense (70) (72)
Interest expense (3,543,037) (369,420)
Financing expense (2,694,722) -
----------- -----------
TOTAL OTHER INCOME (EXPENSE) (6,354,643) (368,120)
----------- -----------
PROVISION FOR INCOME TAX
Enterprise income tax expense 1,700 2,353
Delaware franchise tax 123,558 76,602
----------- -----------
TOTAL PROVISION FOR INCOME TAX 125,258 78,955
----------- -----------
SHARE OF LOSS IN JOINT VENTURE - (14,948)
----------- -----------
NET LOSS $(16,799,253) $(14,648,792)
=========== ===========
Weighted average common shares
outstanding:
Basic and Diluted 23,046,654 8,224,645
=========== ===========
Net loss per share:
Basic and Diluted $ (0.73) $ (1.78)
=========== ===========
VIRTUIX HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED MARCH 31, 2026 AND 2025
2026 2025
------------ ------------
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss $(16,799,253) $(14,648,792)
Adjustments to reconcile net loss
to net cash used in operating
activities:
Depreciation and amortization
expense 625,987 482,389
Amortization of discount on notes
payable 2,923,059 13,727
Amortization of loan cost 26,871 -
Credit loss (recovery) expense 73,151 (17,912)
Stock-based compensation 441,951 5,860,695
Share of loss in joint venture 70 14,948
Warrant modification expense 2,694,722 -
Loss on extinguishment of debt 122,864 -
Stock issuance in exchange for
services 1,235,009 -
(Increase) decrease in assets:
Prepaid expenses and other
current assets (590,956) 372,489
Accounts receivable (326,768) (78,093)
Other assets (1,006) (6,654)
Inventory 267,626 (485,759)
Operating lease right-of-use
assets (260,867) 282,593
Increase (decrease) in
liabilities:
Accounts payable (85,609) 410,623
Accrued expenses 544,879 272,873
Gift card liability 446,252 -
Operating lease liabilities 260,867 (282,593)
Deferred revenue (1,103,229) (80,786)
----------- -----------
CASH USED IN OPERATING ACTIVITIES (9,504,380) (7,890,252)
----------- -----------
CASH FLOWS FROM INVESTING
ACTIVITIES
Cash paid for purchases of
property and equipment,
including intangibles (97,045) (467,189)
----------- -----------
CASH USED IN INVESTING ACTIVITIES (97,045) (467,189)
----------- -----------
CASH FLOWS FROM FINANCING
ACTIVITIES
Issuance of preferred stock 1,945,352 2,999,051
Proceeds from SAFE notes - 3,598,805
Payments on short-term notes
payable (1,454,263) (411,247)
Payments on long-term notes
payable (549) (364)
Proceeds from short-term notes
payable 1,734,627 2,367,500
Payment for equity repurchase - (2,750)
Proceeds from warrants exercised,
net of issuance costs 6,985,847 95
Proceeds from convertible notes,
net of issuance costs 9,398,813 -
Proceeds from exercise of stock
option 24,978 -
Due (to) from related parties (40,000) 14,230
----------- -----------
CASH PROVIDED BY FINANCING
ACTIVITIES 18,594,805 8,565,320
----------- -----------
NET INCREASE (DECREASE) IN CASH 8,993,380 207,879
CASH AT BEGINNING OF YEAR 477,908 270,029
----------- -----------
CASH AT END OF YEAR $ 9,471,288 $ 477,908
=========== ===========
(END) Dow Jones Newswires
June 25, 2026 08:01 ET
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