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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
Defense Momentum
Consumer and Enterprise Milestones
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, 2026 | March 31, 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, 2026 | March 31, 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 | ||||
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