Being AI Limited Analysis

Overview

Being AI is a diversified artificial intelligence services, development and investment group.

Being AI comprises three business models: Being Consultants (providing AI and advanced technology support to third-party companies), Being Labs (developing AI and patentable technologies) and Being Ventures (investing in industries that will be significantly enhanced with the deployment of AI and advanced technologies).

Being Consultants, Being Labs and Being Ventures are in the early stages of generating revenue. Initial Ventures investments are in logistics (with Send Global) and education (with AGE).

Being AI was previously known and listed on the NZX Main Board as Ascension Capital (ACE). On 11 December 2023, ACE announced to NZX that it had reached a conditional agreement to acquire the Being AI Group via a proposed ‘reverse listing’. On 28 March 2024, ACE Shareholders passed resolutions to approve the proposed acquisition and ACE was renamed Being AI Limited (ticker code ‘BAI’).

Performance

The following information was extracted from Being AI's ("BAI") Half Year Results, released 28 November 2025:

Being AI today releases its interim results for the first six months of FY26, a period marked by significant challenges. The Board has taken decisive steps to address financial and governance issues, with a clear focus on protecting shareholder value.

Financial Performance

For the six months ended 30 September 2025, Being AI recorded revenue of $17.4 million, an operating EBITDA profit from continuing operations of $0.7 million, and a net loss from continuing operations of $0.1 million. The Group’s performance was underpinned by the continued positive operational results of Send Global, which remains a key driver of value. The Group also recognised a loss from discontinued operations of $0.3 million and a $1.7 million gain from the divestment of the Education Group. However, profitability was impacted by overhead costs, interest payments, and other expenses associated with Being AI and its subsidiaries.

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