A2Z Provides Update to Financial Results for First Quarter 2026
Rhea-AI Summary
A2Z (NASDAQ:AZ) updated its Q1 2026 results, correcting certain tables while leaving other information unchanged. Revenue was $3.3 million, up 114% year-over-year.
Contracted backlog reached ~$195 million (>19,000 carts through 2027), over 2,500 smart carts are deployed, retail media revenues began, and a $30 million contract-backed, non-dilutive credit facility was approved.
Positive
- Q1 2026 revenue of $3.3 million, up 114% year-over-year
- Contracted backlog of approximately $195 million for over 19,000 carts by end of 2027
- Delivered about 500 smart carts in Q1 2026 and over 2,500 globally
- Launched new retail media revenue stream with brands Lego, ToysRUs and Under Armour
- Secured $30 million contract-backed, non-dilutive bank credit facility to support growth
- Reported ~15% basket uplift and utilization rates above 95% for deployed carts
Negative
- None.
News Market Reaction – AZ
In the May 15 session, AZ declined 12.50%, reflecting a significant negative market reaction. Argus tracked a trough of -20.1% from its starting point during tracking. Our momentum scanner triggered 46 alerts that day, indicating elevated trading interest and price volatility. Trading volume was very high at 3.4x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 01 | Full-year 2025 earnings | Positive | +12.1% | Audited FY2025 results showing revenue growth and extended buyback plan. |
| Nov 13 | Q3 2025 earnings | Positive | +0.6% | Q3 2025 update highlighting strong cash position and major commercial agreement. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent earnings-related releases have been followed by positive price reactions, suggesting investors respond constructively to financial updates.
Over the past year, A2Z has used earnings updates to highlight rapid revenue growth and balance sheet strength. The Q3 2025 results emphasized cash of $70.4M and equity of $81.6M, alongside progress on major agreements. The FY 2025 results showed revenue rising to $7.9M, with Q4 revenue of $3.6M. These prior disclosures set the stage for the current Q1 2026 update, which continues the narrative of scaling smart cart deployments and growing revenues.
Key Terms
contracted backlog financial
non-dilutive bank credit facility financial
retail media technical
GAAP financial
non-GAAP financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenue of
Contracted Backlog Surpasses
Management to Host Conference Call at 8:30 a.m. ET Today
Mr. Gadi Graus, Chief Executive Officer of A2Z and Cust2Mate, commented, "Q1 2026 marked an important inflection point for the Company as we accelerated our transition from pilot validation to commercial deployment. During the quarter, we expanded our delivered base to more than 2,500 smart carts and grew our contracted backlog1 to more than
"We also continued to strengthen our manufacturing readiness and global operational infrastructure to support this contracted pipeline at scale, including expanded production capacity, enhanced supply chain execution and the addition of customer support centers in two new locations to improve deployment support and ongoing retailer service. As deployments scale, stronger shopper engagement and richer behavioral data are expanding monetization opportunities across our platform, creating a growth flywheel that we believe will further strengthen recurring revenue over time. Overall, our progress this quarter reinforces our confidence that our strategy is working.
"To support accelerating rollout activity and the increasing scale of customer deployments, we recently received approval for a
_________________________ | |
1 Contracted backlog is a financial measure that has not been prepared in accordance with generally accepted accounting principles ("GAAP") and constitutes "non-GAAP financial measures" as defined by the SEC. Contracted backlog is defined as the total estimate of the revenue the Company expects to realize in the future as a result of performing work on awarded contracts, less the amount of revenue the Company has previously recognized. The Company monitors its backlog because we believe it is a forward-looking indicator of potential sales which can be helpful to investors in evaluating the performance of its business and identifying trends over time. |
Recent Business Highlights
- Expanded contracted backlog to
~ , representing more than 19,000 smart carts to be deployed by the end of 2027, underscoring strong global demand and long-term rollout visibility.$195 million - Transitioned from pilot to scaled deployment phase, delivering ~500 smart carts in Q1 2026 and reaching approximately 2,500 units delivered globally across leading retail partners
- Advanced retail media monetization, beginning revenue generation in Q1 2026 and establishing in-store advertising as a new recurring revenue stream. Current Retail Media Brands include Lego, ToysRUs, and Under Armour
- Demonstrated strong retailer ROI and shopper adoption, including ~
15% basket uplift, higher items per transaction and utilization rates above95% - Strengthened global operational and deployment infrastructure by expanding manufacturing capacity and establishing international hubs in
Panama andBulgaria to support scaled rollout execution
"Physical retail remains one of the largest under-digitized sectors of the global economy and is in the early stages of a significant structural transformation towards more intelligent, data-driven retail," concluded Graus. "To address a massive market opportunity, we have developed and are now deploying a retail technology layer that is fundamentally changing how stores operate, engage shoppers and unlock new monetization opportunities from the in-store experience. We have moved from proof-of-concept to deploying our platform at scale, and retailers are capturing measurable improvements in sales throughput, shopper engagement and operational efficiency that are driving improved store economics. Looking ahead, A2Z is exceptionally well-positioned with a strong balance sheet and ample access to capital to deliver on our large contracted backlog and pursue additional large-scale deployments globally to drive increasing long-term value for our shareholders."
Conference Call
Management will host a conference call on Friday, May 15, 2026 at 8:30 a.m. Eastern Time to discuss the company's 2026 first quarter financial results.
Anyone interested in participating should call 1-877-407-0784 if calling within
A replay will be available until Friday, May 29, 2026, which can be accessed by dialing 1-844-512-2921 if calling within
The call will also be available by webcast over the internet at: https://viavid.webcasts.com/starthere.jsp?ei=1762627&tp_key=3b4649d7cd.
About A2Z Cust2Mate Solutions Corp.
A2Z Cust2Mate Solutions Corp. (NASDAQ: AZ) makes in-store retail smarter by connecting retailers, brands, and shoppers at the Smart Cart. Cust2Mate transforms everyday shopping carts into AI-powered, connected commerce platforms that elevate the in-store experience, turning each visit into a seamless, personalized, and rewarding journey. The Smart Cart platform helps retailers and brands grow revenue through targeted retail media and real-time shopper engagement at the moment purchase decisions are made. It delivers actionable, real-time data that provides full visibility into in-store shopper behavior and decision-making. With its modular, state-of-the-art technology, Cust2Mate enables retailers to increase revenue, optimize store operations, and mitigate loss across their chains at scale.
For more information on A2Z Cust2Mate Solutions Corp. and its subsidiary, Cust2Mate Ltd., please visit www.cust2mate.com.
Cautionary Statement Regarding Forward-looking Statements
Matters discussed in this press release may contain forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company's filings on EDGAR and with the SEC. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements contained in this announcement are made as of this date, and the company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein.
A2Z CUST2MATE SOLUTIONS CORP.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited)
(Expressed in Thousands of US Dollars, except per share data)
March 31, 2026 | December 31, 2025 | |||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 16,208 | $ | 13,525 | ||||
Short-term deposits | 473 | 384 | ||||||
Financial assets at fair value | 40,664 | 55,642 | ||||||
Inventories | 5,536 | 3,891 | ||||||
Trade receivables, net | 3,537 | 3,034 | ||||||
Other accounts receivable | 3,481 | 2,937 | ||||||
Total current assets | 69,899 | 79,413 | ||||||
Non-current assets | ||||||||
Intangible asset | 637 | 637 | ||||||
Long term financial asset at fair value | 340 | 333 | ||||||
Long-term trade receivables | 2,345 | 1,221 | ||||||
Property, equipment and right of use assets, net | 3,600 | 3,556 | ||||||
Total non-current assets | 6,922 | 5,747 | ||||||
Total Assets | $ | 76,821 | $ | 85,160 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Current liabilities | ||||||||
Current portion of long-term loans | $ | 8 | $ | 9 | ||||
Lease liability | 846 | 819 | ||||||
Trade payables | 4,132 | 3,348 | ||||||
Other accounts payable | 1,625 | 2,200 | ||||||
Warrant Liability | - | 576 | ||||||
Total current liabilities | 6,611 | 6,952 | ||||||
Non-current liabilities | ||||||||
Lease liability | 1,536 | 1,758 | ||||||
Long term loans | 28 | 29 | ||||||
Total non-current liabilities | 1,564 | 1,787 | ||||||
Total liabilities | 8,175 | 8,739 | ||||||
Equity | ||||||||
Share capital and additional paid in capital | 210,362 | 206,953 | ||||||
Warrant Reserve | 10,147 | 10,147 | ||||||
Accumulated other comprehensive loss | (1,296) | (1,872) | ||||||
Reserve with respect to transactions with non-controlling interests | 927 | 927 | ||||||
Treasury stock | (3,479) | - | ||||||
Accumulated losses | (146,259) | (138,187) | ||||||
Total equity attributable to Company shareholders | 70,402 | 77,968 | ||||||
Non-controlling interests | (1,756) | (1,547) | ||||||
Total equity | 68,646 | 76,421 | ||||||
Total liabilities and equity | $ | 76,821 | $ | 85,160 | ||||
A2Z CUST2MATE SOLUTIONS CORP.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS
(Unaudited)
(Expressed in Thousands of US Dollars, except per share data)
For the period of three Months Ended March 31, | ||||||||
2026 | 2025 | |||||||
Revenues | $ | 3,317 | $ | 1,547 | ||||
Cost of revenues | 3,178 | 967 | ||||||
Gross profit | 139 | 580 | ||||||
Expenses: | ||||||||
Research and development costs | $ | 2,930 | $ | 1,311 | ||||
Sales and marketing costs | 2,194 | 428 | ||||||
General and administration expenses | 3,042 | 5,416 | ||||||
Operating loss | (8,027) | (6,575) | ||||||
Gain on revaluation of warrant liabilities | - | 400 | ||||||
Financial income | 160 | 449 | ||||||
Financial expenses | (414) | (39) | ||||||
Net loss for the period from continuing operations | (8,281) | (5,765) | ||||||
Net loss for the period from discontinued operations | - | (989) | ||||||
Net loss for the period | $ | (8,281) | $ | (6,754) | ||||
Net loss attributable to non-controlling interests | (209) | (332) | ||||||
Net loss attributable to controlling shareholders | (8,072) | (6,422) | ||||||
Net loss for the period | $ | (8,281) | $ | (6,754) | ||||
Other comprehensive income | ||||||||
Item that will not be reclassified to profit or loss: | ||||||||
Adjustments arising from translating financial statements of foreign operations | 576 | 810 | ||||||
Other comprehensive income | 576 | 810 | ||||||
Total comprehensive loss for the period | $ | (7,705) | $ | (5,944) | ||||
Comprehensive loss attributable to non-controlling interests | (209) | (332) | ||||||
Comprehensive loss attributable to the Company's shareholders | (8,072) | (6,422) | ||||||
$ | (8,281) | $ | (6,754) | |||||
Basic and diluted loss per share from continuing operations | $ | (0.18) | $ | (0.16) | ||||
Basic and diluted loss per share from discontinued operations | $ | - | $ | (0.03) | ||||
Weighted average number of shares outstanding | 44,519,493 | 33,029,519 | ||||||
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SOURCE A2Z Cust2Mate Solutions Corp.