Datavault AI Stock Crashes — Financials Cannot Be Trusted: What You Need to Know

What happened

Datavault AI told investors to stop relying on four sets of financial statements after its audit committee and management reached that conclusion on Oct. 20. The affected reports cover periods ended Sept. 30, 2025, March 31, 2026, and June 30, 2026, plus the 2025 annual report.

Confirmed

Global impact / market context

If reported numbers cannot be trusted, investors cannot judge the company's revenue, costs, or cash available, which means the cash it can use. That raises the chance of restatements, which are corrected versions of prior reports, and can make raising money harder or more expensive.

Analyst inference

The issue traces to a $150 million equity deal with Scilex Holding, paid in Bitcoin. Datavault later concluded the Bitcoin never qualified as its own digital asset. A requested Bitcoin withdrawal from a Biconomy account had not gone through, adding uncertainty about who controls the asset.

Analyst inference

What to watch

1. Datavault said the audit committee and management concluded on Oct. 20 that four sets of financial statements, related earnings releases, press releases, and investor presentations should no longer be relied upon. Confirmed
2. Watch whether Datavault files restated financial statements, which are corrected versions of prior reports, and whether it explains how the $150 million Scilex deal and the Bitcoin are recorded. Proposed
3. Watch whether the stalled Bitcoin withdrawal is resolved and who controls those coins, because that affects cash available and investor confidence in the company's reported assets. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• Original source link unavailable