• Customer cash inflows of US$0.7M, improved from prior quarter
• Executed multiple strategic licensing and collaboration agreements
• Initiated the AKD2500 next-generation custom silicon development program

During the first quarter ended 31 March 2026, BrainChip continued to advance its strategy to commercialise ultra-low power neuromorphic edge AI. The company focused on technology execution, customer engagement and ecosystem expansion, with multiple product announcements and strategic collaborations reinforcing Akida as a differentiated solution for defence, industrial, wearable and IoT applications. Key highlights include customer cash inflows of US$0.7M, improved from the prior quarter, and the initiation of the AKD2500 next-generation custom silicon development program, a material milestone in the Akida 2.0 roadmap. BrainChip also executed multiple strategic licensing and collaboration agreements, including a global Akida 2.0 licensing deal with EDGEAI and a selection by ForwardEdge ASIC, a Lockheed Martin subsidiary, as the neuromorphic AI provider for future custom ASIC platforms. The company remains focused on advancing its Akida 2.0 roadmap, expanding design-win opportunities and converting partnerships into long-term royalty and product revenue streams.

Subsequent to the quarter, BrainChip received an initial order from Onsor Technologies for AKD1500 neuromorphic processors to be used in Onsor's AI-enabled smart glasses. This order, combined with committed orders from Parsons and Nex-Novus, reflects progressing customer engagement ahead of broader AKD1500 production availability.