FY2025 (first year of revenue) · ARAI · Listed 2025-05-15 · CIK 1818274
Arrive AI Financials
Arrive AI direct-listed on Nasdaq on May 15, 2025. The page covers what is disclosed: FY2025 revenue line-by-line, the single-customer concentration on Hancock Health, the going-concern flag from the auditor's report, the spring 2026 Nasdaq listing-compliance status, the FY2025 financial restatement, and the chronological list of every material 10-K, 10-Q, and 8-K filing on EDGAR. The public history is short by design — this is not a multi-year trend page yet.
FY2025 revenue (first year of operations)
$113,250
$89,000 consulting + $3,675 installation + $20,575 subscription, per the FY2025 10-K MD&A.
Headcount (2025-12-31)
41 FT + 10 PT
Full-time employees plus part-time contract workers, per the 10-K Human Capital section.
Cash & equivalents (2025-12-31)
$2.1M
Average cash burn ~$1.0M/month per the 10-K MD&A. Subsequent equity issuances added cash in Q1 2026.
Material risk disclosures
Three disclosures from the FY2025 10-K and the spring 2026 8-K filings that materially shape how the rest of the page should be read. Surfaced up-front, factually, without editorializing whether they are recoverable. Each panel links to the underlying filing.
Going-concern doubt
Arrive AI's independent registered public accounting firm included an explanatory paragraph in its FY2025 audit report expressing substantial doubt about the company's ability to continue as a going concern. The 10-K cites the $1M-per-month average cash burn, the $2.1M cash position at December 31, 2025, and the company's continued reliance on equity financing as the basis for the doubt.
Source: FY2025 10-K filed 2026-04-15.
Nasdaq listing compliance
On March 31, 2026, Arrive AI received two notification letters from Nasdaq: one indicating non-compliance with the minimum Market Value of Publicly Held Shares ($15M MVPHS, Listing Rule 5450(b)(2)(C)), and a second indicating non-compliance with the minimum Market Value of Listed Securities ($50M MVLS, Listing Rule 5450(b)(2)(A)). MVPHS compliance was regained on April 23, 2026 (10 consecutive business days at or above $15M from April 10, 2026). MVLS remediation has until September 28, 2026; if not regained, the company may be delisted from the Nasdaq Global Market or transfer to the Nasdaq Capital Market.
Sources: 8-K filed 2026-04-03 · 8-K filed 2026-04-28.
FY2025 financial restatement
On April 14, 2026, Arrive AI announced (Form 8-K, Item 4.02) that its previously issued Q2 2025 and Q3 2025 10-Q financial statements should no longer be relied upon, due to an accounting error in the reported values of the Convertible Notes under the Streeterville Capital Securities Purchase Agreement (an embedded derivative under ASC 815-40 had not been bifurcated and fair-valued separately). The restatement is non-cash but affects reported net income, balance-sheet presentation, and footnote disclosures. Restated Q2 and Q3 2025 10-Q/A filings landed April 15, 2026 alongside the FY2025 10-K, which incorporates the corrected accounting from inception.
Source: 8-K filed 2026-04-14.
Stock price (ARAI)
Live current price plus the post-listing history. The chart's range covers from the May 15, 2025 direct listing to today; for context, this is a much shorter window than most charts on this site, by design. Chart updates during US market hours (9:30 a.m. – 4:00 p.m. Eastern, Monday – Friday) via TradingView's embed widget.
Most recent Arrive AI SEC filings
The freshness frontier — the latest filing of each material form type, fetched live from EDGAR. The 10-K marked “Anchors this page” is the source of every value below; the others are surfaced for transparency. Note: Arrive AI has not yet filed a DEF 14A (the company direct-listed in May 2025; its first proxy statement is expected in 2026).
DEF 14A
Proxy statement
No filings on record.
1 material filings have been filed since the anchor 10-K above (1 8-K). Check the “Latest disclosures” section below for the chronological list.
FY2025 revenue, line by line
FY2025 was Arrive AI's first year of revenue-generating operations (the FY2024 10-K MD&A calls FY2024 a development-stage year with zero revenue). The total is small enough that the line-item breakdown is more informative than a chart: $89,000 came from non-recurring design and consulting work, $3,675 from installation fees, and $20,575 from monthly subscriptions. The MD&A frames subscriptions as the recurring stream and consulting / installation as project-based and non-recurring.
| Revenue stream | FY2025 revenue | % of total |
|---|---|---|
| Design & consulting services | $89,000 | 78.6% |
| Installation services | $3,675 | 3.2% |
| Subscription services | $20,575 | 18.2% |
| Total | $113,250 | 100.0% |
Source: FY2025 10-K filed 2026-04-15, MD&A “Revenues” subsection. FY2025 was the company's first year of revenue-generating operations (the 10-K calls FY2024 a 'development stage' year with zero revenue). The three-line breakdown — consulting / installation / subscription — was disclosed in the MD&A 'Revenues' subsection of the FY2025 10-K.
Customer concentration
For a company of any size this would be a notable risk; for a company at this revenue scale it is the central fact of the customer base. The 10-K names Hancock Health by name as the single customer producing more than 90% of FY2025 revenue.
For FY2025, more than 90% of Arrive AI's $113,250 total revenue came from a single customer, Hancock Health (a regional hospital system in Indiana). The 10-K's customer-concentration disclosure names Hancock Health by name and identifies a 'specialty pharmaceutical delivery company' as the second pilot customer. The disclosure makes the early-stage customer concentration explicit: the business has effectively one paying customer.
Source: 10-K covering FY ending 2025-12-31, filed 2026-04-15. Quoted verbatim and paraphrased from the 'Risk Factors' and MD&A sections of the FY2025 10-K filed 2026-04-15.
Pilot programs & named customers
Customers named or described in the FY2025 10-K. The 10-K uses the phrase “significant customers” for both pilots; only Hancock Health is named.
| Customer | Vertical | Location | Status | Source |
|---|---|---|---|---|
| Hancock Health | regional hospital | Indiana | active pilot, revenue customer | FY2025 10-K |
| Specialty pharmaceutical delivery company (unnamed in 10-K) | pharmaceutical delivery | — | pilot | FY2025 10-K |
Other metrics from EDGAR
Net loss, R&D, stock-based compensation, and operating cash flow — pulled live from SEC EDGAR XBRL. Two fiscal years are present (FY2024 and FY2025); the table will widen automatically as more annual filings land.
| Metric | FY2024 | FY2025 |
|---|---|---|
| Net Income (Loss) | -$4.5M | -$12.8M |
| R&D Expense | $760.0K | $600.5K |
| Stock-Based Compensation | $1.4M | $2.5M |
| Operating Cash Flow | -$2.3M | -$8.3M |
Business model
Arrive AI describes itself as building infrastructure for the “Autonomous Last Mile” (ALM) era — smart locker / mini-cross-dock terminals (branded “Arrive Points™”) that act as secure, asynchronous exchange points connecting drones, autonomous robots, traditional delivery providers, retailers, and consumers. The terminals are paired with an AI-driven platform that handles dynamic scheduling, chain-of-custody verification, and (in later product generations) marketplace transactional economics.
Revenue today comes from three streams: project-based design and consulting services, one-time installation fees, and monthly subscription fees per terminal. The company's stated five-year plan is to transition the terminal hardware from the current AP3 generation to AP4 / AP5, at which point the marketplace and AI-services revenue lines are intended to scale.
Hardware generations (Arrive Points)
| Generation | Status | Note |
|---|---|---|
| AP3 | deployed (Q4 2024 onwards) | Third-generation hardware; began revenue operations in 2025. |
| AP4 | in development | Fourth-generation; transitional hardware toward marketplace economics. |
| AP5 | planned | Fifth-generation; designed to fully enable marketplace transactional economics and advanced AI services. |
| AP6 | future | Future generation. |
Intellectual property
9 US patents granted, 3 US applications in examination, 8 international patents granted, 77 international applications in process (as of 2025-12-31).
Patent license from CEO. Exclusive patent license from CEO Daniel O'Toole through April 2040: $10,000/month fixed + $25 per installed unit royalty. The license is the source of the technology that “jumpstarted” the company's operations and is described in the 10-K as material to ongoing growth.
Latest disclosures
Every material disclosure since Arrive AI's May 2025 direct listing on Nasdaq, in reverse-chronological order. Each entry links to the source filing on EDGAR. For a company this small, the disclosures themselves are the page.
- Apr 28, 20268-KMVPHS compliance regained (10 consecutive business days at $15M+ from April 10–23, 2026)
- Apr 15, 202610-K + 10-Q/AFY2025 10-K filed; Q2 and Q3 2025 10-Q/A restatements filed concurrently
- Apr 14, 20268-KItem 4.02 non-reliance on Q2 / Q3 2025 10-Qs disclosed (ASC 815-40 derivative accounting error on Streeterville Capital convertible notes); director appointment
- Apr 3, 20268-KNasdaq notification letters received (MVPHS and MVLS continued-listing rules)
- Jan 30, 20268-KSecurities Purchase Agreement transactions / Streeterville Capital activity
- Dec 8, 20258-KSecurities Purchase Agreement transactions / Streeterville Capital activity
- Nov 14, 202510-QQ3 2025 10-Q filed (later restated by 10-Q/A on 2026-04-15)
- Sep 11, 20258-KReg-FD / other disclosure
- Aug 7, 20258-KReg-FD disclosure
- Jun 2, 20258-KOfficer / director update post-direct-listing
- May 15, 2025—Direct listing on Nasdaq Global Market under ticker ARAI—
Methodology & data sources
Live data. Annual revenue, R&D, net loss, stock-based compensation, and operating cash flow are sourced live from Arrive AI's SEC EDGAR XBRL company-facts endpoint. If EDGAR is unreachable when the page is being prepared, the page is not updated, so visitors never see stale fallback numbers.
Hand-curated, source-tagged. The FY2025 revenue line-item breakdown (consulting / installation / subscription), the Hancock Health customer-concentration paragraph, the going-concern audit-report disclosure, the Nasdaq listing-compliance status (MVPHS / MVLS letters), the FY2025 restatement disclosure, the pilot-customer roster, the Arrive Points hardware-generation table, and the chronological “Latest disclosures” timeline are not exposed in EDGAR companyfacts JSON. Each value is hand-curated from the underlying 10-K, 10-Q, or 8-K filing's narrative section, and tagged with the filing's accession number.
Why this page is lighter on charts than the others. Arrive AI direct-listed in May 2025 and only has one full fiscal year of public reporting (FY2025). Multi-year trend charts on a single data point would mislead more than they would inform. The page leans on the “Latest disclosures” timeline plus a one-year revenue line-item card. As more annual filings land, additional sections (multi-year revenue chart, headcount chart, etc.) will be added.
What's intentionally not here. Forward guidance, analyst estimates, and price targets (out of scope — the page is reported actuals). Speculation about partnerships not yet disclosed. Editorial framing about whether the company is “the next Amazon delivery network” or “a doomed micro-cap” — the going-concern, listing-compliance, and restatement disclosures speak for themselves. Comparison to drone-delivery operators (Zipline, Wing) or smart-locker operators (Luxer, Parcel Pending) — different business shapes; readers comparing across that landscape should triangulate the underlying filings directly.
Cross-references. Sibling page: Arrive AI Leadership (founder-CEO Daniel O'Toole, the executive officer roster, the eight-director board, the Exclusive Patent License Agreement, and the FY2025 Section 16(b) short-swing-profits disclosure). Arrive AI on the AI Pure-Plays roster. Tech Filings for the chronological view of every Arrive AI SEC filing.
Last updated: 2026-04-30 19:30 UTC. Latest 10-K on EDGAR: 0001493152-26-016808 filed 2026-04-15. Hand-curated source-tag anchor: 0001493152-26-016808.