Core AI Holdings (CHAI) AI Stock Analysis

• Market Cap: $32.67M
• Dividend Yield: N/A
• Average Volume (3M): 457.43K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.49
• Revenue Growth: -19.03%
• EPS Growth: 99.55%
• Country: US
• Employees: 25
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): -1.74
• Shares Outstanding: 19,922,422
• 10 Day Avg. Volume: 457,735
• 30 Day Avg. Volume: 457,429
• PEG Ratio: <0.01
• Price to Book (P/B): 0.06
• Price to Sales (P/S): 0.02
• P/FCF Ratio: -0.01
• Enterprise Value/Market Cap: 0.89
• Enterprise Value/Revenue: 2.98
• Enterprise Value/Gross Profit: 53.08
• Enterprise Value/Ebitda: -1.60
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $1.50 ▼(-16.67% Downside)

The score is driven primarily by weak financial performance—declining revenue, very negative margins, and negative operating/free cash flow—despite low leverage. Technicals remain broadly bearish with price below longer-term moving averages and a negative MACD, while valuation is not compelling given losses and no provided dividend yield.

Positive Factors

Low Leverage

Core AI's very low debt-to-equity (0.06) provides durable financial flexibility during restructuring or growth initiatives. Low leverage reduces interest burden and bankruptcy risk, enabling management to prioritize product investment and M&A without immediate refinancing pressure over the next several months.

Recurring, Diversified Revenue Streams

A revenue model built on subscriptions, licensing, consulting and maintenance produces recurring cash inflows and customer stickiness. This diversification supports steadier lifetime value and cross-sell opportunities, helping stabilize revenues over a 2–6 month horizon if client retention and upsell execution hold.

Strategic M&A to Expand Market Position

The acquisition of Core Gaming provides structural expansion into AI gaming, increasing addressable market and potential cross-selling of AI platforms. If integration captures synergies and product alignment, the merger can sustainably broaden revenue channels and competitive differentiation over coming quarters.

Negative Factors

Declining Revenue

An ~18–19% TTM revenue decline indicates weakening demand or retention; this erodes scale economies and raises fixed-cost absorption needs. Persisting top-line contraction can undermine long-term unit economics, force deeper restructuring, and limit the company’s ability to invest in sales and R&D over the medium term.

Deep Negative Profitability

Extremely negative margins signal structural unprofitability: operating losses far exceed revenues and destroy shareholder equity (ROE -186%). Without meaningful gross-margin improvement or cost base realignment, sustained losses will impair reinvestment capability and likely necessitate dilutive financing or asset sales.

Negative Operating and Free Cash Flow

Ongoing negative operating and free cash flows create a cash-burn dynamic that threatens runway despite low debt. Persistent outflows limit the firm's ability to fund product development, sales expansion, or integration of acquisitions without external capital, increasing execution risk over the next several months.

Core AI Holdings Business Overview & Revenue Model

Company Description

Core AI Holdings, Inc. develops and publishes AI based mobile games worldwide. The company was formerly known as Siyata Mobile Inc. and change its name to Core AI Holdings, Inc. The company is based in Wilmington, Delaware.

How the Company Makes Money

Core AI Holdings generates revenue through a diversified model that includes subscription fees for its AI software platforms, consulting services for custom AI solutions, and licensing agreements with enterprises that utilize CHAI's technology in their operations. Key revenue streams also come from strategic partnerships with industry leaders that enable joint ventures and collaborative projects, expanding CHAI's market reach. Additionally, CHAI benefits from ongoing maintenance and support contracts, ensuring a steady income flow from existing clients as they continue to enhance their AI capabilities.

Core AI Holdings Financial Statement Overview

Summary

Weak fundamentals: revenue is declining (-18.31% TTM) with deeply negative profitability (net margin -144.29%, EBIT margin -114.13%) and ongoing cash burn (negative operating and free cash flow). Low leverage (debt-to-equity 0.06) is a modest positive, but severe losses and negative ROE (-186.68%) dominate.

Income Statement

Core AI Holdings has experienced a significant decline in revenue with a negative growth rate of -18.31% TTM. The company is facing severe profitability challenges, as indicated by negative margins across the board, including a net profit margin of -144.29% and an EBIT margin of -114.13%. These figures suggest substantial operational inefficiencies and a need for strategic restructuring to improve financial performance.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.06 TTM, indicating limited leverage, which is a positive aspect. However, the return on equity is deeply negative at -186.68%, reflecting significant losses relative to shareholder investments. The equity ratio stands at a moderate level, suggesting some stability in asset financing, but overall financial health is compromised by ongoing losses.

Cash Flow

Cash flow analysis reveals a challenging situation with negative operating cash flow and free cash flow, indicating cash burn. The free cash flow to net income ratio is slightly above 1, suggesting that cash outflows are closely aligned with net losses. The company needs to address its cash flow issues to ensure sustainability and avoid liquidity constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.71M	11.63M	8.23M	6.48M	7.55M	5.99M
Gross Profit	544.89K	2.14M	2.66M	1.39M	1.87M	1.58M
EBITDA	-18.08M	-21.11M	-11.04M	-19.34M	-17.42M	-11.64M
Net Income	-21.89M	-25.27M	-12.93M	-9.94M	-25.31M	-15.34M
Balance Sheet
Total Assets	20.21M	14.89M	15.51M	16.14M	12.05M	31.09M
Cash, Cash Equivalents and Short-Term Investments	3.51M	181.73K	898.77K	1.91M	1.62M	5.47M
Total Debt	2.15M	4.40M	2.20M	939.00K	4.39M	7.05M
Total Liabilities	4.77M	10.97M	5.81M	6.90M	9.56M	9.81M
Stockholders Equity	15.44M	3.92M	9.71M	9.24M	2.49M	21.28M
Cash Flow
Free Cash Flow	-17.26M	-17.11M	-10.62M	-17.27M	-15.56M	-11.52M
Operating Cash Flow	-14.98M	-15.08M	-8.34M	-13.85M	-12.57M	-9.99M
Investing Cash Flow	-3.68M	-3.36M	-2.27M	-3.56M	-3.12M	-1.53M
Financing Cash Flow	21.88M	17.72M	9.60M	17.57M	1.01M	25.35M

Core AI Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CHAI, the sentiment is Negative. The current price of 1.8 is below the 20-day moving average (MA) of 2.10, below the 50-day MA of 2.25, and below the 200-day MA of 8.09, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 32.69 is Neutral, neither overbought nor oversold. The STOCH value of 4.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CHAI.

Core AI Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
IZEA	51 Neutral	$61.65M	-16.95	-6.62%	―	7.12%	78.68%
CCG	50 Neutral	$64.62M	-7.09	―	―	105.31%	95.66%
SEAT	46 Neutral	$102.34M	-0.27	-51.54%	―	-16.83%	-485.31%
BZFD	41 Neutral	$33.36M	46.54	-45.88%	―	―	―
CHAI	40 Underperform	$32.67M	-0.03	-172.80%	―	-19.03%	99.55%
ILLR	39 Underperform	$34.82M	-0.02	―	―	―	―

Core AI Holdings Corporate Events

Core AI Holdings Re-Files Reviewed June 30, 2025 Interim Financials Following Core Gaming Merger

On February 2, 2026, Core AI Holdings filed an updated report for the month of February 2026 to re-submit previously issued interim financial statements for both Siyata Mobile Inc. and Core Gaming, Inc. covering the periods ended June 30, 2025 and 2024. The company clarified that these June 30, 2025 financials, originally filed in August and November 2025, have not been modified, and that the purpose of the re-filing is solely to formally note that Siyata’s statements were reviewed by Barzily and Co., CPA, and Core Gaming’s statements were reviewed by Bush & Associates CPA LLC prior to the October 3, 2025 merger that made Core Gaming a wholly owned subsidiary. By incorporating these reviewed financials into its existing U.S. registration statements, Core AI Holdings is reinforcing disclosure and audit transparency around its pre-merger financial position, which is important for investors evaluating the combined company’s historical performance and regulatory compliance, but does not itself signal any change in operating results or strategy.

The most recent analyst rating on (CHAI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.

Core AI Holdings Sells Siyata Unit to Refocus on Core AI Business

On December 29, 2025, Core AI Holdings, Inc. completed the signing and closing of a definitive stock purchase agreement to divest Siyata Mobile Inc. and its subsidiaries, a move the company described as a strategic step to streamline its operations and sharpen its focus on core artificial intelligence initiatives. Under the agreed terms, Core AI will receive $100,000 in initial cash consideration and three annual earn-out payments, each equal to the greater of $200,000 or 1% of Siyata’s gross revenue for 2026, 2027 and 2028, as confirmed by audited IFRS financial statements, signaling a shift of capital and management attention away from non-core assets and toward its AI business while retaining potential upside participation in Siyata’s future performance.

The most recent analyst rating on (CHAI) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.

Core AI Holdings to Host Investor Call on December 4, 2025

On November 28, 2025, Core AI Holdings, Inc. announced that it will host an investor conference call on December 4, 2025, to discuss its Q3 2025 business update and provide a preview of its 2026 outlook. The call will focus on reviewing operational progress and outlining strategic developments aimed at driving sustainable long-term growth. This announcement highlights Core AI’s commitment to leveraging AI-powered content development and exploring growth through joint ventures and mergers, potentially impacting its market position and stakeholder interests.

The most recent analyst rating on (CHAI) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.

Core AI Holdings Finalizes Merger with Core Gaming

On October 3, 2025, Core AI Holdings, Inc. completed a merger with Core Gaming, Inc., which now operates as a wholly-owned subsidiary. This strategic move, finalized under an amended merger agreement, positions Core AI Holdings to strengthen its foothold in the AI gaming sector, potentially impacting its operational dynamics and market competitiveness. The merger’s financial implications are detailed in the unaudited financial statements for the nine months ending September 30, 2025, highlighting the company’s efforts to integrate and optimize its expanded operations.

The most recent analyst rating on (CHAI) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.

Core AI Holdings Completes Strategic Merger with Core Gaming

Core AI Holdings, Inc. announced its third-quarter financial results for 2025, highlighting a significant merger completed on October 3, 2025, with Core Gaming, Inc. This strategic move positions Core AI Holdings as a stronger entity in the AI sector, potentially impacting its financial performance and market reach. The financial results reflect the operations of Siyata Mobile, Inc. prior to the merger, indicating a transitional phase for the company as it integrates Core Gaming’s operations.

The most recent analyst rating on (CHAI) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.

Core AI Holdings Completes Merger with Core Gaming

On October 3, 2025, Core AI Holdings, Inc. completed a merger with Core Gaming, Inc., making Core a wholly-owned subsidiary. This strategic move is expected to enhance Core AI Holdings’ position in the gaming industry. The merger follows Core’s acquisition of Newbyera Technology Limited in 2024, indicating a broader market strategy. The unaudited financial statements for the first half of 2025 reveal a loss, highlighting the financial challenges faced during the integration process. This merger is significant for stakeholders as it could influence the company’s future financial performance and market strategy.

The most recent analyst rating on (CHAI) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on Core AI Holdings stock, see the CHAI Stock Forecast page.