Brand Engagement Network, Inc. Q2 FY2025 earnings call

• The delay in Q2 10 - Q filing was due to deliberate decisions to strengthen the company's foundation, including negotiating with vendors to reduce expenses and making management changes like re - engaging with an outside accounting firm. - The Korean Innovation Lab in Seoul has more than 30 employees driving product innovation and client success. - Entered a global partnership with Swiss Life, entered Mexico market, had a launch in the pharmacy sector in Boston, and made integrations in the automotive sector. - Emphasized the importance of trusted data for authentic and reliable consumer interactions. - Scheduled next earnings call on November 4, 2025, and Annual Shareholder Meeting on November 26, 2025.

In Q2, revenue was $5,000 compared to none in Q2 2024. Operating expenses decreased by 55.6% to $2.8 million for the quarter, down from $6.3 million in Q2 2024. Other income was $3.7 million, primarily from a gain on debt extinguishment of $4 million (partially offset by changes in the fair value of warrants). Net income was about $900,000 in Q2 2025 compared to a net loss of $3 million in Q2 2024. Stockholders' equity increased 126% to $5.9 million from $2.6 million at year - end 2024.

• Shifting focus towards driving revenue growth supported by a stronger foundation and operational capacity to launch new customers more rapidly across target verticals. - Expect pilots to be converted into scalable recurring relationships and to share more detailed results as programs formalize into commercial agreements in the near future.

Q: Tyler, welcome to the CEO role. Thoughts on what you're planning to focus on and management style?

A: Focus on 3 core priorities: execution and discipline, commercial acceleration, and product leadership. Execution and discipline to deliver against commitments, commercial acceleration to translate momentum into scalable revenue, and product leadership to push boundaries of responsible, reliable AI engagement.

Q: Thoughts on pending acquisition of Cataneo, media space?

A: Continuing to work with Cataneo team, partnership is strong. Media space is important, evolves fast, and a combination of buy, build, partner approach is critical, with both M&A and partnership opportunities.

Q: About $5,000 revenue in the quarter, was it a pilot program? Expectation going forward?

A: $5,000 relates to a pilot program for a client in Armenia in hospitality customer service. Expect this to be recurring.

Q: Update on prior pilots in pharmaceutical health care space?

A: All pilots are moving forward. Next phase is converting pilots into scalable recurring relationships, and expect to share more detailed results as programs formalize into commercial agreements in the near future