This analyst just more than doubled his price target on Rezolve AI

In a Sept. 15 update, Roth Capital Markets analyst Rohit Kulkarni reiterated a “Buy” rating on Rezolve AI (Rezolve AI Stock Quote, Chart, News, Analysts, Financials NASDAQ:RZLV) while raising his price target to $9.00 from $4.25, citing accelerated revenue growth, recent acquisitions and expanding geographic reach.

Rezolve, founded in London in 2016, provides an AI-powered platform that helps retailers and brands engage customers and simplify online purchases.

Kulkarni noted that shares of the company are up 77% year-to-date, far outpacing the Russell 2000’s 7.5% gain.

“We are encouraged by Rezolve’s rapid expansion from zero to $70-million in ARR in less than 10 months,” Mr. Kulkarni wrote. “While Rezolve shares are likely to remain volatile, we think the company screens well as a pure-play AI software/e-commerce small-cap company for long-term investors.”

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Roth raised its 2025 and 2026 revenue estimates by 8% and 18% respectively, reflecting tuck-in acquisitions and new investment. Gross margin assumptions were lowered to account for the launch of a services segment, which is expected to weigh on near-term profitability.

“While we lower our EBITDA margin assumptions for 2025 and 2026, we expect Rezolve to demonstrate a pathway toward EBITDA profitability in 1H26,” he said.

One of the most significant developments was Rezolve’s August acquisition of ViSenze, a Singapore-based AI search and shopping assistant used by retailers such as Target, Rakuten, Urban Outfitters, Zalora and Mango. Kulkarni said the deal should provide tangible revenue contributions in the second half of fiscal 2025 and support Rezolve’s path toward $100-million in ARR.

The company also strengthened its balance sheet with a $50-million private placement in July from Citadel and Alyeska, earmarked for expanding its Brain Suite AI platform, building out enterprise sales capacity, and supporting potential M&A.

In parallel, Rezolve deepened its Asia-Pacific presence by opening a regional headquarters in Singapore in August, backed by a multi-million-dollar government investment. The move is expected to broaden access to regional enterprises and financing while expanding the company’s global footprint to London, New York, Singapore, Toronto, Melbourne, Austin, Warsaw and Kolkata.

Mr. Kulkarni now forecasts an Adjusted EBITDA loss of $1.8-million on $31.0-million in revenue in fiscal 2025, compared with prior estimates of a $1.5-million loss on $28.8-million. For 2026, he expects Adjusted EBITDA of $9.7-million on $97.0-million in revenue, versus prior forecasts of $12.8-million on $82.0-million.

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