Brand Engagement Network, Inc. (BNAI) Q2 2025 Earnings Call Transcript

Operator

Good afternoon, and welcome to the Brand Engagement Network Inc.’s Second Quarter 2025 Earnings Conference Call. Today’s call is being recorded. [Operator Instructions]

Before we begin, please note that during this call, our speakers may make forward-looking statements regarding future results and performance. Please refer to the cautionary language included in BEN’s filings with the Securities and Exchange Commission, included in their Form 10-K and 10-Q for additional information concerning factors that could cause actual results to differ materially from those forward-looking statements.

I would now like to turn the call over to Tyler Luck, acting CEO and Co-Founder of Brand Engagement Network. Tyler, please go ahead.

Tyler Luck
Acting CEO, Chief Product Officer & Director

Thank you, operator, and thank you all for joining us today. I’d like to begin by addressing the timing of this report. While our Q2 10-Q filing was delayed, I want to be clear that this was not the result of negative financial performance. Instead, the delay reflected deliberate decisions to strengthen the company’s foundation. First, we focused on reducing ongoing expenses by negotiating with prior existing vendors to ensure we operate with greater financial discipline.

Second, we made positive management changes, including reengagement with our trusted outside accounting fund that supported us from 2021 to 2024, while continuing with our independent audit firm. These steps require time, but we’re taking to build confidence in our financial processes. I’ve been with this company since day 1. I know our technology, our customers and our mission. And I can tell you that the entrepreneurial spirit at