Being AI Limited Analysis

Overview

Being AI is a diversified artificial intelligence services, development and investment group.

Being AI comprises three business models: Being Consultants (providing AI and advanced technology support to third-party companies), Being Labs (developing AI and patentable technologies) and Being Ventures (investing in industries that will be significantly enhanced with the deployment of AI and advanced technologies).

Being Consultants, Being Labs and Being Ventures are in the early stages of generating revenue. Initial Ventures investments are in logistics (with Send Global) and education (with AGE).

Being AI was previously known and listed on the NZX Main Board as Ascension Capital (ACE). On 11 December 2023, ACE announced to NZX that it had reached a conditional agreement to acquire the Being AI Group via a proposed ‘reverse listing’. On 28 March 2024, ACE Shareholders passed resolutions to approve the proposed acquisition and ACE was renamed Being AI Limited (ticker code ‘BAI’).

Performance

The following information was extracted from Being AI's ("BAI") Full Year Results, released 30 May 2025:

Being AI Releases Unaudited FY25 Results

Being AI Limited (NZX: BAI) today announced its preliminary unaudited financial results for the fiscal year to 31 March 2025 (FY25). The Company reported a poor financial performance, marked by a net loss before tax of -$11.98 million, reflecting the significant challenges it has faced.

Summary of Key Financial Results

(Figures are quoted in NZ dollars)

• Revenue: $40.10 million
• Operating EBITDA loss: $3.94 million
• Net loss before tax: $11.98 million

Financial Overview

For FY25, Being AI Limited recorded revenue of $40.10 million. Despite efforts to streamline operations and raise external capital to fund growth, the Company delivered an operating EBITDA

loss of $3.94 million. The net loss before tax amounted to $11.98 million, underscoring the financial difficulties encountered throughout the year.