Form 8-K
8-K — Exyn Technologies, Inc.
Accession: 0001104659-26-080849
Filed: 2026-07-07
Period: 2026-07-06
CIK: 0001960355
SIC: 7372 (SERVICES-PREPACKAGED SOFTWARE)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 6, 2026
EXYN TECHNOLOGIES, INC.
(Exact name of registrant as specified in its
charter)
Delaware
001-43296
47-2345934
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2118 Washington Avenue, Suite 1000
Philadelphia, Pennsylvania
19146
(Address of principal executive offices)
(Zip Code)
(215) 999-0200
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol
Name of each exchange
on which registered
Common stock, par value $0.0001 per share
EXYN
The Nasdaq Stock Market LLC
Warrants, each warrant exercisable for one share of common stock at an exercise price of $9.69
EXYNW
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 2.02
Results of Operations and Financial Condition.
On July 6, 2026, Exyn Technologies, Inc. (the “Company”)
issued a press release announcing its financial results for the three months ended March 31, 2026 and provided an update on the Company’s
operations. The Company is furnishing a copy of the press release, which is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information
included in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1 hereto), shall not be deemed “filed” for
the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange
Act or Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.
Description of Exhibits
99.1
Press Release dated July 6, 2026.
104
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 6, 2026
Exyn Technologies,
Inc.
By:
/s/
Brandon Torres Declet
Brandon Torres Declet
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2619859d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
Exyn
Technologies Reports First Quarter 2026 Financial Results
Successfully
Completed Initial Public Offering, and Continued Expansion of ExynAI Across Commercial and Government Markets
PHILADELPHIA,
PA, July 6, 2026 – Exyn Technologies ("Exyn" or the "Company") (NASDAQ: EXYN, EXYNW), a leader in autonomous
mapping and perception-driven navigation for complex, GPS-denied environments, today announced financial results for the first quarter
ended March 31, 2026.
Recent
Strategic Highlights:
· Completed
Initial Public Offering (IPO) - In May 2026, Exyn successfully completed its initial
public offering, raising approximately $19.4 million in gross proceeds, before underwriting
discounts, commissions, and offering expenses, and began trading on the Nasdaq Capital Market
under the symbols "EXYN" and "EXYNW," strengthening the Company's balance
sheet and providing capital to support the execution of its long-term growth strategy and
continued investment in its ExynAI-powered autonomy platform.
· Launched
Exyn Defense - In June 2026, the Company rebranded its wholly owned defense-focused subsidiary,
Range, as Exyn Defense, Inc., establishing a dedicated business focused on delivering ExynAI-powered
autonomy and mapping capabilities for government, defense, national security, and allied
mission applications. Built on a platform-agnostic architecture, Exyn Defense is designed
to integrate across aerial, ground, and hybrid robotic systems, enabling autonomous operations
in contested, GPS-denied, and mission-critical environments.
· Expanded
Commercial Deployments - Exyn continued to expand the deployment of its ExynAI Autonomy
& Mapping Stack across underground mining, industrial, construction, and critical infrastructure
environments. The Company's technology enables autonomous navigation and high-fidelity mapping
in complex settings where GPS, reliable communications, and pre-existing maps are unavailable,
reinforcing Exyn's position as a leader in autonomous operations in unstructured environments.
First
Quarter 2026 Financial Results:
· Revenue
was $1.19 million for the first quarter of 2026, compared to $1.22 million for the first
quarter of 2025, representing a modest decrease of approximately $27 thousand or 2.3%. The
slight decline was primarily attributable to the timing of customer project activity and
product deliveries during the period.
· Gross
profit increased by 16% to $0.50 million, compared to $0.43 million in the prior-year period,
driven by a more favorable revenue mix and lower product and service delivery costs.
· Gross
margin improved to 42.2% in the first quarter of 2026 from 35.6% in the prior-year period,
reflecting an improvement of 660 basis points.
· Total
operating expenses were $3.38 million, compared to $2.95 million in the prior-year period,
primarily reflecting higher selling, general, and administrative expenses associated with
the Company’s transition to, and readiness for, public-company operations.
· Net
loss was $3.24 million, or $(2.45) per basic and diluted share, compared to a net loss of
$2.58 million, or $(1.96) per basic and diluted share, in the first quarter of 2025.
· Cash
and cash equivalents were approximately $1.1 million as of March 31, 2026, compared with
$0.8 million as of December 31, 2025. As of July 6, 2026, cash and cash equivalents were
approximately $7.4 million, reflecting the net proceeds from the Company's IPO, after repayment
of its outstanding obligations to Western Alliance Bank and Maximcash Solutions.
Brandon
Torres Declet, Chief Executive Officer of Exyn Technologies, commented, “During the first quarter of 2026, Exyn achieved a transformative
milestone with the successful completion of our initial public offering, marking the beginning of an exciting new chapter in the Company's
evolution. Becoming a public company strengthened our balance sheet, expanded our access to capital, and enhanced our ability to execute
our long-term growth strategy through continued investment in product innovation, commercial expansion, and strategic initiatives. We
believe Exyn is uniquely positioned to capitalize on the growing demand for autonomous robotics and AI-powered navigation across both
commercial and defense markets. With the launch of Exyn Defense, we have expanded our addressable market while remaining focused on our
core mission of delivering platform-agnostic autonomy solutions that enable robots to operate in environments where GPS, communications,
and prior maps cannot be relied upon. As adoption of autonomous systems continues to accelerate, we believe Exyn is well positioned to
drive long-term growth and create lasting value for our customers and shareholders.”
About
Exyn Technologies
Exyn
Technologies (NASDAQ: EXYN, EXYNW) is a leader in autonomous mapping and perception-driven navigation for complex, GPS-denied environments.
The Company’s technology enables teams to capture accurate 3D data in environments that are dark, disconnected, hazardous, or difficult
to access. Exyn’s solutions support customers across mining, construction, infrastructure, geospatial, industrial, government,
and defense applications.
For
more information, visit www.exyn.com.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact contained in this press release are forward-looking statements, including statements regarding
Exyn’s SLAM technology and its potential benefits, the speed and accuracy of data collection, any potential cost savings or operational
benefits to be achieved by Exyn’s clients ; and the Company’s expectations regarding market growth and future commercial
or strategic opportunities.
These
forward-looking statements are based on current expectations, estimates, projections, assumptions, and beliefs of the Company’s
management, including assumptions regarding market demand, customer adoption, technology performance, procurement activity, defense and
government spending, competitive conditions, third-party market forecasts, and the Company’s ability to execute its strategy. Forward-looking
statements are inherently subject to known and unknown risks, uncertainties, and other important factors that may cause actual results,
performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include,
among others, the Company’s ability to successfully launch, operate, and grow its business; the ability of the Company’s
technology to meet the requirements of various customers; delays or failures in customer adoption, procurement processes, platform integrations,
operational evaluations, or contract awards; changes in government priorities, regulations, export controls, or procurement requirements;
reliance on third-party platforms, partners, systems integrators, or suppliers; competitive developments; the accuracy of third-party
market research and growth forecasts; and the other risks and uncertainties described in the Company’s filings with the U.S. Securities
and Exchange Commission.
Forward-looking
statements can generally be identified by words such as “anticipates,” “believes,” “designed,” “expects,”
“forecasts,” “intends,” “may,” “plans,” “potential,” “projects,”
“seeks,” “should,” “targets,” “will,” “would,” and similar expressions, although
not all forward-looking statements contain these identifying words. You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. The Company undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise, except as required by applicable law.
Media
Contact
Vanessa
Varian
Exyn
vvarian@exyn.com
Investor
Contact
Crescendo
Communications, LLC
exyn@crescendo-ir.com
(212)
671-1020
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