Being AI Limited Analysis

Overview

Being AI was previously known as Ascension Capital and listed on the NZX Main Board. The company underwent a reverse listing to acquire the Being AI Group. It was renamed Being AI Limited (ticker code: BAI) and began trading in April 2024.

Being AI was established as a diversified artificial intelligence services, development and investment group. The Group faced significant operational challenges in its first year of operation, which resulted in a poor financial performance.

Having recently undergone a comprehensive strategic review, Being AI Limited currently consists of two primary operating companies specialising in document management and business mail solutions, under the holding company Send Global.

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.