SAIheat publishes unaudited pro forma combined financials for Canopy Wave merger
SAIH•SAIheat published unaudited pro forma financials for its reverse merger with Canopy Wave for the year ended Dec. 31, 2025. Combined revenue was $16.9 million, net loss was $5.99 million, total assets were $46.96 million and cash was $6.03 million.
1. Combined financials
SAIheat published unaudited pro forma combined financials for its reverse merger with Canopy Wave for the year ended Dec. 31, 2025. Revenue totaled $16.9 million, including $12.37 million from Canopy Wave and $4.52 million from SAIheat; net loss was $5.99 million.
2. Assets and cash
Total assets were $46.96 million, including $26.92 million of goodwill tied to the deemed purchase consideration. Cash was $6.03 million, including $4.5 million of PIPE proceeds, offset by $1.7 million of estimated transaction costs.
