MultiSensor AI Announces Second Quarter 2026 Results
Rhea-AI Summary
MultiSensor AI (NASDAQ: MSAI) reported second quarter 2026 revenue of $1.7 million, up 19% from $1.4 million a year earlier, driven by an 85% increase in software revenue to $0.7 million. Net loss improved 26% to $2.5 million, compared with $3.3 million in Q2 2025.
The company ended June 30, 2026 with $21.0 million in cash and cash equivalents, down from $24.4 million at December 31, 2025. Strategic highlights included renewal by a large global distributor with planned rollout to 10 North American sites and integration of Broadsens wireless vibration sensors into the MSAI Connect platform.
Positive
- Revenue growth to $1.7 million in Q2 2026, up 19% year over year
- Software revenue rose 85% year over year to $0.7 million in Q2 2026
- Net loss reduction to $2.5 million in Q2 2026, a 26% improvement vs. Q2 2025
- Cash balance of $21.0 million at June 30, 2026 provides funding runway
- Distributor renewal with purchase orders for initial rollout at 10 North American sites
- Broadsens integration adds wireless vibration monitoring to MSAI Connect, expanding multi-sensor platform capabilities
Negative
- Ongoing losses with Q2 2026 net loss of $2.5 million and six‑month loss of $4.9 million
- Operating cash outflow of $4.1 million for the first six months of 2026
- Cash decline from $24.4 million at December 31, 2025 to $21.0 million at June 30, 2026
- Shareholder dilution as common shares outstanding increased from 2.01 million to 2.21 million year to date
- Contract liabilities rise to $3.7 million total, reflecting increased deferred revenue obligations
News Explained
Existing holders face a higher reported share count, while the April 13 reverse split changed share presentation without changing company value by itself.
The company announced results for the quarter ended
The balance sheet lists
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Houston, Texas--(Newsfile Corp. - August 13, 2026) - MultiSensor AI Holdings, Inc. (NASDAQ: MSAI) (the "Company", "MultiSensor AI" or "MSAI") today announced financial results for the second quarter ended June 30, 2026.
Asim Akram, Chief Executive Officer, said, "Industrial customers are moving from reactive maintenance to data-driven operations. They need one platform that combines multiple sensor technologies into actionable intelligence before failures occur. During the quarter, we expanded MSAI Connect with wireless vibration monitoring, giving customers thermal and vibration intelligence in a single workflow and taking another step toward becoming the operating system for industrial asset health."
Robert Nadolny, Chief Financial Officer, continued, "We are beginning to see the benefits of our efforts over the last year: recurring software subscriptions are growing, and our leaner cost structure is supporting improved operating leverage. With
Financial Highlights:
Grew second quarter revenue
19% to$1.7 million , an increase of$0.3 million as compared to$1.4 million in the second quarter of 2025.Increased software revenue
85% to$0.7 million in the second quarter of 2026, an increase of$0.3 million as compared to$0.4 million in the second quarter of 2025.Reduced second quarter net loss
26% to$2.5 million , a decrease of$0.9 million as compared to net loss of$3.3 million in the second quarter of 2025.Ended the quarter with
$21.0 million of cash and cash equivalents as of June 30, 2026, as compared to$24.4 million as of December 31, 2025.
Strategic Business Highlights:
A large global distributor renewed its subscriptions for another year and issued purchase orders for our first rollout at 10 sites in North America, with installations expected to begin during the second half of 2026.
In June 2026, we expanded the MSAI Connect platform through integration with Broadsens wireless vibration sensors, enabling customers to monitor both thermal and vibration data from a single interface and strengthening the Company's multi-sensor platform strategy.
We presented at The Reliability Conference 2026 and SupplyChainPoint 2026 during the quarter, demonstrating multi-camera thermal monitoring within MSAI Connect.
The Company's Quarterly Report is filed with the Securities and Exchange Commission (the "SEC"), and is available at www.sec.gov as well as in the Investor Relations section of the Company's website (www.multisensorai.com). More information about the Company and its business, including an updated investor presentation, also is available on the Investor Relations section on MSAI's website. All share and per share amounts presented have been adjusted retroactively to reflect the 1-for-40 reverse stock split on April 13, 2026.
About MultiSensor AI
MultiSensor AI is a multi-sensor condition intelligence solution for high-throughput and highly automated industrial operations. By unifying thermal, vibration, and visual sensor data in a single solution, MultiSensor AI enables reliability teams to proactively protect uptime, reduce maintenance costs, enhance safety, and extend the useful life of their most critical assets. For more information, visit www.multisensorai.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "will," "would" or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, management's expectations regarding its strategic priorities and objectives, future plans and business prospects. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including those identified in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in the Company's other filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
MSAI Contact:
e-mail: ir@multisensorai.com
website: www.multisensorai.com
Source: MultiSensor AI Holdings, Inc.
MultiSensor AI Holdings, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(Amounts in thousands of U.S. dollars, except share and per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| Revenue, net | $ | 1,695 | $ | 1,419 | $ | 3,309 | $ | 2,589 | |||||
| Cost of goods sold (exclusive of depreciation) | 919 | 1,084 | 1,619 | 1,560 | |||||||||
| Operating expenses: | |||||||||||||
| Selling, general and administrative | 2,833 | 2,909 | 5,822 | 7,048 | |||||||||
| Share-based compensation expense | 187 | 423 | 369 | 1,330 | |||||||||
| Depreciation | 360 | 330 | 712 | 610 | |||||||||
| Loss (gain) on asset disposal | (3 | ) | (9 | ) | (18 | ) | (24 | ) | |||||
| Total operating expenses | 3,377 | 3,653 | 6,885 | 8,964 | |||||||||
| Operating loss | (2,601 | ) | (3,318 | ) | (5,195 | ) | (7,935 | ) | |||||
| Interest expense (income), net | (142 | ) | (11 | ) | (297 | ) | (15 | ) | |||||
| Other expense (income), net | 15 | 5 | 14 | (180 | ) | ||||||||
| Loss before income taxes | (2,474 | ) | (3,312 | ) | (4,912 | ) | (7,740 | ) | |||||
| Income tax expense (benefit) | (14 | ) | 10 | 19 | 18 | ||||||||
| Net loss | $ | (2,460 | ) | $ | (3,322 | ) | $ | (4,931 | ) | $ | (7,758 | ) | |
| Weighted-average shares outstanding, basic and diluted | |||||||||||||
| Basic | 2,069,434 | 838,785 | 2,040,995 | 826,894 | |||||||||
| Diluted | 2,069,434 | 838,785 | 2,040,995 | 826,894 | |||||||||
| Net loss per share, basic and diluted | |||||||||||||
| Basic | $ | (1.19 | ) | $ | (3.96 | ) | $ | (2.42 | ) | $ | (9.38 | ) | |
| Diluted | (1.19 | ) | (3.96 | ) | (2.42 | ) | (9.38 | ) | |||||
MultiSensor AI Holdings, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(Amounts in thousands of U.S. dollars, except share and per share data)
| June 30, 2026 | December 31, 2025 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 21,005 | $ | 24,365 | |||
| Trade accounts receivable, net of allowance for credit losses of | 3,624 | 1,670 | |||||
| Inventories, current | 3,332 | 4,020 | |||||
| Other current assets | 1,142 | 826 | |||||
| Total current assets | $ | 29,103 | $ | 30,881 | |||
| Property, plant and equipment, net | 3,759 | 4,085 | |||||
| Inventories, noncurrent | 306 | 379 | |||||
| Other noncurrent assets | 181 | 129 | |||||
| Total assets | $ | 33,349 | $ | 35,474 | |||
| Liabilities and shareholders' equity | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 258 | $ | 291 | |||
| Income taxes payable | 7 | - | |||||
| Accrued expense | 772 | 981 | |||||
| Contract liabilities | 2,950 | 1,255 | |||||
| Other current liabilities | 59 | 121 | |||||
| Total current liabilities | $ | 4,046 | $ | 2,648 | |||
| Contract liabilities, noncurrent | 768 | 751 | |||||
| Warrants | - | 10 | |||||
| Deferred tax liabilities, net | 43 | 33 | |||||
| Total liabilities | $ | 4,857 | $ | 3,442 | |||
| Commitments and contingencies (Note 13) | |||||||
| Shareholders' equity | |||||||
| Common stock, | - | - | |||||
| Preferred stock, | - | - | |||||
| Additional paid-in capital | 99,762 | 98,371 | |||||
| Accumulated deficit | (71,270 | ) | (66,339 | ) | |||
| Total shareholders' equity | $ | 28,492 | $ | 32,032 | |||
| Total liabilities and shareholders' equity | $ | 33,349 | $ | 35,474 | |||
MultiSensor AI Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited)
(Amounts in thousands of U.S. dollars)
| Six Months Ended June 30, | |||||||
| 2026 | 2025 | ||||||
| Operating Activities: | |||||||
| Net loss | $ | (4,931 | ) | $ | (7,758 | ) | |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||
| Depreciation | 712 | 610 | |||||
| Non-cash lease activity | - | 77 | |||||
| Bad debt expenses (recoveries) | 22 | (1 | ) | ||||
| Deferred income tax (income) expense | 10 | 9 | |||||
| Share-based compensation | 369 | 1,330 | |||||
| Loss (gain) on disposal of equipment | (18 | ) | (24 | ) | |||
| Other (income) expenses, net | (25 | ) | - | ||||
| Increase (decrease) in cash resulting from changes in: | |||||||
| Trade accounts receivable | (1,976 | ) | (52 | ) | |||
| Inventories | 761 | (14 | ) | ||||
| Other current assets | (366 | ) | 204 | ||||
| Other noncurrent assets | (52 | ) | (14 | ) | |||
| Trade accounts payable | (49 | ) | 245 | ||||
| Income taxes payable | 7 | (59 | ) | ||||
| Contract liabilities | 1,695 | 1,732 | |||||
| Other current liabilities | (62 | ) | (121 | ) | |||
| Right of use liabilities | - | (78 | ) | ||||
| Accrued expenses | (194 | ) | (46 | ) | |||
| Contract liabilities, noncurrent | 17 | (20 | ) | ||||
| Net cash provided by (used in) operating activities | $ | (4,080 | ) | $ | (3,980 | ) | |
| Investing Activities: | |||||||
| Capital expenditures | (372 | ) | (929 | ) | |||
| Proceeds from sale of equipment | 20 | 24 | |||||
| Net cash provided by (used in) investing activities | $ | (352 | ) | $ | (905 | ) | |
| Financing Activities: | |||||||
| Proceeds from issuances of common stock | 1,046 | 4,739 | |||||
| Tax payments associated with equity-based compensation transactions | (24 | ) | (848 | ) | |||
| Repayment of Legacy SMAP promissory note | - | (172 | ) | ||||
| Net cash provided by (used in) financing activities | $ | 1,022 | $ | 3,719 | |||
| Net increase/(decrease) in cash, cash equivalents, and restricted cash equivalents | (3,410 | ) | (1,166 | ) | |||
| Cash, cash equivalents, and restricted cash equivalents beginning of period | 24,465 | 4,508 | |||||
| Cash, cash equivalents, and restricted cash equivalents end of the period | $ | 21,055 | $ | 3,342 | |||
| Reconciliation of cash, cash equivalents and restricted cash equivalents at end of period: | |||||||
| Cash and cash equivalents | $ | 21,005 | $ | 3,192 | |||
| Restricted cash equivalents included in other current assets | 50 | 150 | |||||
| Cash, cash equivalents, and restricted cash equivalents end of the period | $ | 21,055 | $ | 3,342 | |||
| Supplemental cash flow information: | |||||||
| Interest paid | $ | - | $ | - | |||
| Income tax paid, net of refunds received | 10 | 110 | |||||
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309482