BrainChip Q1 2024 Report

BrainChip Holdings Ltd (ASX: $BRN) has reported a cash balance of US$13M as of 31 March 2024, according to its Quarterly Activities Report and Appendix 4C lodged for the quarter ending 31 March 2024. The period from December 2023 to the end of March 2024 marked a quarter of significant transformation and growth for the company.

CEO Commentary on Q1 2024 Activities

The CEO highlighted the company's participation in CES 2024, generating new customer prospects and significant podcast interviews with global technology leaders. The termination of a Consultancy Agreement and the demonstration of human behavior AI at Intel Foundry Services Direct Connect 2024 were also key events. The company also conducted a Virtual Investor Roadshow and opened its product shopping portal for pre-orders of the Akida Edge AI Box.

Summary of Q1 2024 Report and Outlook

BrainChip reported a cash balance of US$13M, with significant activities including CES 2024 participation, termination of a Consultancy Agreement, and demonstration of human behavior AI at Intel Foundry Services Direct Connect 2024. The company also opened its product shopping portal for pre-orders of the Akida Edge AI Box and announced the launch of its Akida technology into low-earth orbit. The company aims to solidify its go-to-market capabilities and remain the leader in hyper-efficient Edge AI, with plans to continue enhancing communication with investors and expanding its University AI Accelerator Program.