Being AI reports $11.98m loss for 2025

Being AI has reported a net loss before tax of $11.98 million for the 2025 financial year.

The company's preliminary unaudited results, released today, showed revenue of $40.1m and an operating ebitda loss of $3.94m.

The company said the financial difficulties were primarily due to goodwill impairments of $5.96m related to Project Treehouse and $500,000 for Filecorp.

Project Treehouse, which involved agentic commerce and other AI initiatives, was shut down in May 2025 after failing to secure external funding or implement pilot customer programmes.

Being AI also made a provision of $1.1m against a $2m loan extended to Excalibur, an entity owned by its original chairman, Sean Joyce.

Shareholders' equity turned negative, standing at -$6.99m.

The company said it faced operational challenges, including changes in directors and cash burn for Project Treehouse.

Since the balance date, the new board has focused on a strategic review to stabilise the financial position, which included personnel reductions and the divestment of Being Education.