Rezolve AI PLC (NASDAQ: RZLV) announced on Thursday that its first-quarter revenue reached $60 million, based on unaudited management accounts. This figure already exceeds the company's audited total revenue for the entirety of 2025, which stood at $46.8 million. The news sent shares up 4.9% to $2.58 in afternoon trading on the New York Stock Exchange, with approximately 12.9 million shares changing hands.
Revenue Milestone and Path to Profitability
The company is sticking with its ambitious $360 million revenue target for 2026, and management expressed confidence that it can achieve profitability without resorting to additional equity sales. This assurance is particularly significant for investors, given the tendency of early-stage AI and software companies to fund operations through share offerings in recent years.
Chief Executive Daniel M. Wagner described the quarter as a major inflection point, noting that the company generated more revenue in 90 days than it did across all of 2025. The company's annualized revenue run-rate entering 2026 was over $232 million, calculated from December's monthly recurring revenue (MRR) of $19.4 million. Rezolve uses MRR to track contractual recurring revenue, while annualized recurring revenue (ARR) is simply MRR multiplied by 12 and does not align with revenue recognized under standard accounting principles.
Commerce.com Takeover Bid and Poison Pill
Rezolve is also pressing ahead with its pursuit of Commerce.com, the company formerly known as BigCommerce Holdings. On April 8, Commerce.com disclosed that Rezolve had made an all-stock offer to acquire all outstanding shares at a ratio of one Rezolve share for every two Commerce.com shares. Commerce.com's board rejected the bid, characterizing it as a steep 47% discount, and declined to enter negotiations.
In response, Commerce.com adopted a limited-duration stockholder rights plan, a classic poison pill defense designed to complicate or raise the cost of any hostile takeover attempt. Executive Chair Ellen Siminoff described the move as providing the board with time and flexibility to evaluate potential offers. Rezolve, however, has not backed down. In a Form 6-K filed April 29, the company disclosed that it distributed a flyer at the Commerce Live conference in Chicago, criticizing Commerce.com's results and arguing that a merger could connect roughly 60,000 storefronts with Rezolve's Brain Suite and RezolvePay offerings. The filing also clarified that the communication should not be considered a formal bid for any securities.
AI Platform and Strategic Partnerships
Rezolve is selling an 'agentic commerce' platform that enables AI to guide shoppers through product selection and purchases, beyond just answering queries. The company has been bolstering its AI credentials through alliances with major technology players. On April 13, it announced that its brainpowa suite of commerce-specific models went live in Microsoft Foundry, accessible through Azure. Jason Graefe, Corporate VP for AI Partner Catalyst at Microsoft, noted that the models are trained specifically for commerce.
Execution Risks and Outlook
While the first-quarter results are encouraging, the company faces significant execution hurdles. It needs to convert contracted dollars into recognized revenue, maintain client engagement, and continue scaling—all without tapping new equity markets. In its own filings, Rezolve acknowledges risks such as customer non-renewal or reduced usage, competitive pressures, regulatory changes, macroeconomic headwinds, and integration challenges that could derail its projections. The company does not typically publish quarterly figures, making this report an exception aimed at providing shareholders with a clearer view of its progress. The numbers remain preliminary and have not been audited.
