Datavault AI stock closed at $0.067 on October 27, 2026, down 49.6% from the previous session, after the company disclosed an incomplete Bitcoin withdrawal and plans to restate financial statements.
Key Takeaways
- About 250 million Datavault shares traded on October 27, when the stock fell from its previous close of $0.133.
- A Bitcoin withdrawal requested in June remained incomplete as of the company’s October 26 filing.
- Datavault expects the accounting corrections to reduce reported assets, but has not finalized their effects or set a filing date.
Datavault AI stock falls after filing
The decline followed Datavault’s disclosure that financial statements for four periods, from September 2025 through June 2026, should no longer be relied upon. In its October 26 filing, the company said it was unable to complete a withdrawal from its Biconomy wallet to an external account.
The timing links the share move to the disclosure, but does not establish what caused investors to sell. Datavault did not explain why the withdrawal remained incomplete, and the filing did not establish that the Bitcoin was stolen or permanently unrecoverable.
| Item | Details |
|---|---|
| September 30, 2025 | Expected reduction in total assets: $8.1 million |
| December 31, 2025 | Expected reduction in total assets: $92.2 million |
| March 31, 2026 | Expected reduction in total assets: $57.1 million |
| June 30, 2026 | Expected reduction in total assets: $49.0 million |
How the Bitcoin transaction was recorded
Under a September 2025 agreement, Scilex Holding agreed to buy Datavault shares and a pre-funded warrant for $150 million payable in Bitcoin. Datavault said 1,309.04 Bitcoin was credited to its Biconomy wallet through off-chain transfers after an adjustment for cash advances.
From September 2025 through January 2026, Datavault sold 491.431 Bitcoin reflected as credited to the account back to Scilex for approximately $40.5 million in cash. The company requested the external withdrawal in June.
After reviewing the transaction, Datavault determined that the Bitcoin associated with the Scilex purchase did not qualify for recognition as a company digital asset. It said the purchase should instead be recorded as a subscription receivable arising from the share issuance, reducing stockholders’ equity.
Restatement and liquidity review
Datavault’s expected reductions to previously reported total assets range from $8.1 million to $92.2 million across the four affected reporting dates. The estimates are preliminary and unaudited, and the company has not finalized the effects on income statements, cash flows or disclosures.
Management is reassessing its going-concern evaluations for the year ended December 2025 and the quarter ended March 2026 because it had considered the Bitcoin balances a source of liquidity. Collection of amounts owed by Scilex is uncertain.
The company is also reviewing whether the errors indicate deficiencies in financial-reporting controls, including a possible material weakness. That assessment was incomplete as of the filing.
Next milestone
Datavault intends to file restated financial statements, but has not determined when they will be available.
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