Robo.ai

Revenue collapsed from 2023 to 2025, then spiked after acquisitions in 2026. The interim profit was driven by a non‑cash disposal gain, not recurring economics. Management provided a preliminary June–August revenue update exceeding US$180 million, but it is unaudited and concentrated in newly acquired PRC operations using VIEs.

The path to recurring, audited free cash flow is unclear, and the company itself discloses going‑concern uncertainty and a working capital deficit as of June 30, 2026.