**Corvex Inc. (Formerly Movano Inc.) Reports Fiscal Year 2025 Results Amidst Merger Completion**
Corvex Inc., formerly known as Movano Inc., has released its financial results for the fiscal year ended December 31, 2025, reporting revenue of $433,000 compared to $1.013 million in 2024, a decrease of 57%. The company's net loss for the year was $18.3 million, a 23% improvement from the $23.7 million loss reported in the previous year. This financial data reflects the company's historical operations, primarily its healthcare business, prior to the completion of its merger with Corvex Legacy Holdings, Inc. (Corvex OpCo) on March 19, 2026. The merger marks a strategic shift for the company, which now operates in two primary business divisions: AI cloud computing and healthcare.
Operating expenses for 2025 totaled $15.9 million, a 37% decrease from $25.2 million in 2024. Research and development expenses decreased by 49% to $5.7 million, while sales, general, and administrative expenses decreased by 28% to $7.9 million. These reductions were attributed to decreased marketing efforts, lower sales volumes, and a reduction in headcount. The company's cost of revenue also decreased by 24% to $2.3 million, reflecting lower revenue for the year. The company's cash and cash equivalents totaled $2.8 million as of December 31, 2025.
A significant development during the year was the completion of the merger with Corvex OpCo, a move aimed at maximizing shareholder value. Under the terms of the merger agreement, Corvex Inc. issued shares of Series B, C, and D preferred stock to the former securityholders of Corvex OpCo. The company's AI cloud computing business specializes in GPU-accelerated infrastructure for AI workloads, offering secure, scalable, and cost-efficient computational resources. The healthcare business, which includes the Wellness Ring, a wearable device designed for women, has paused commercial sales due to a trademark dispute.
Looking ahead, Corvex Inc. faces the challenge of integrating its two business divisions and capitalizing on the growth potential of the AI cloud computing market. The company's future financial performance will depend on its ability to attract new customers, expand its infrastructure capacity, and manage operating costs effectively. The company also plans to explore opportunities to monetize its legacy healthcare assets, while navigating the evolving regulatory landscape for AI and healthcare technologies. The company's ability to lower its cost of capital and manage counterparty credit risk will also be critical to its long-term success.
About Movano Inc.
Movano Inc. develops wearable health devices focused on women’s wellness and chronic disease management. Its products, including the Evie Ring and EvieMED Ring, provide medical-grade data on vital signs, blood oxygen, and menstrual health. The company aims to deliver non-invasive, continuous monitoring solutions for conditions like diabetes and hypertension, combining proprietary RF technology with consumer-friendly design to enhance preventative care and clinical applications.
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