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WILMINGTON, Del., Aug. 14, 2026 /PRNewswire/ -- Brand Engagement Network Inc. (Nasdaq: BNAI) ("BEN" or the "Company"), an AI technology company powering intelligent engagement, today announced the filing of its Quarterly Report on Form 10-Q for the three- and six-month periods ended June 30, 2026. The quarter marked a significant milestone for BEN with the acquisition of Cataneo GmbH, which combines BEN's technology with Cataneo's platform, talent, customers, industry expertise, and established global market presence to create new opportunities across intelligent engagement, media, and monetization.
Cataneo Acquisition – Bringing Intelligent Engagement to Media and Enterprise
On June 30, 2026, the Company completed the acquisition of 100% of Cataneo GmbH, a Germany-based media and advertising technology company. Cataneo brings an established technology platform, customer relationships, industry expertise, and operating capabilities that provide BEN with new opportunities to apply its AI and intelligent engagement technology to transform customer experiences and develop new solutions across the media and advertising ecosystem.
The total stated aggregate consideration under the definitive agreement was $19.5 million. For U.S. GAAP accounting purposes, the consideration transferred was measured at its acquisition-date fair value of approximately $13.7 million, consisting of (i) cash of approximately $9 million, (ii) the fair value of common stock issued of approximately $4.3 million, and (iii) other consideration of approximately $0.4 million.
The acquisition significantly expanded the Company's asset base, with total assets rising from $15.3 million on December 31, 2025, to $30.7 million on June 30, 2026, driven primarily by approximately $10.8 million of goodwill and additional intangible assets related to Cataneo.
Strengthening the Balance Sheet
Accounts payable decreased by $1.8 million, and short-term debt decreased by nearly $1.0 million. Combined with a reduction in warrant liabilities, these balance-sheet items declined by about $3.3 million.
Shareholders' equity increased to $19.4 million as of June 30, 2026, up from $3.5 million as of December 31, 2025.
Cash and cash equivalents increased to $708,000 as of June 30, 2026, from $172,000 as of December 31, 2025.
Strategic and Commercial Developments
On June 8, 2026, the Company entered a 50/50 joint venture with INTERVENT International, LLC, forming INTERVENT Health AI, Inc. to develop and commercialize AI-powered health coaching and chronic disease management solutions.
The Company also completed a $1 million strategic investment in Accelevate Solutions, a provider of intelligent engagement solutions for fleet management, acquiring approximately 10% of the company, with warrants that could increase ownership to approximately 20%.
Through its wholly owned subsidiary Skye AI USA, LLC, the Company owns a 25% common equity interest in Skye Africa Intelligence, Pty. Ltd. and holds preferred equity with a stated value of $2.05 million. The Company is entitled to a 35% recurring revenue share under the related African licensing arrangement.
On August 5, 2026, Skye Africa Intelligence signed a Memorandum of Understanding with the East, Central and Southern Africa Health Community (ECSA-HC) to support the potential deployment of AI-enabled health solutions across ECSA-HC's member states.
Management Commentary
"The closing of the Cataneo acquisition on the final day of the quarter is an important milestone for BEN," said Tyler Luck, Chief Executive Officer. "Cataneo brings much more than technology—it brings an established platform, a talented team, customers, industry expertise, revenue, and a global market presence that complement what we have built at BEN. Together, we have an opportunity to connect BEN's AI and intelligent engagement technology with Cataneo's media and monetization capabilities across a broader set of markets and customer relationships.
On a pro forma basis, Cataneo's contribution would have meaningfully increased our revenue base for the first half of 2026. We also made meaningful progress on the financial side of the business, increasing shareholders' equity, reducing short-term liabilities, and expanding our asset base. At the same time, we continued to invest selectively in opportunities that extend our technology into new environments, including healthcare and emerging international markets. Our focus now is on bringing these capabilities together, continuing to innovate, and turning more interactions between organizations and people into intelligent, actionable, and valuable opportunities.
Earnings Conference Call
Brand Engagement Network Inc. will host an earnings conference call on Thursday, August 20, 2026, at 10:00 a.m. PST / 1:00 p.m. EST to discuss second-quarter 2026 financial results.
Date: Thursday, August 20, 2026
Time: 10:00 a.m. PST / 1:00 p.m. EST
Dial-in (U.S./Canada, toll-free): 1-888-880-3330
Dial-in (International, toll): 1-646-357-8766
Participants are advised to dial in approximately 10 minutes before the scheduled start time.
Speakers will include Tyler Luck, Chief Executive Officer, and Walid Khiari, Chief Financial Officer and Chief Operating Officer.
A replay of the call will be available through August 27, 2026, by dialing 1-800-770-2030 (North American toll-free) or +1 (609) 800-9909 (international toll) and entering conference replay code 8052298#.