Should you sell your Rezolve AI stock?

In a March 31 report, Roth Capital Markets analyst Rohit Kulkarni maintained his “Buy” rating on Rezolve AI (Rezolve AI Stock Quote, Chart, News, Analysts, Financials NASDAQ:RZLV) and cut his price target to $9.50 from $12.50, saying stronger estimates were offset by a higher share count.

Kulkarni said second-half 2025 revenue came in ahead of expectations and that management reaffirmed its 2026 exit ARR target of $500-million. He raised his 2026 revenue estimate to $348.0-million, still below company guidance of $360-million, and said upside remains if Rezolve executes on its hiring, acquisition and upsell strategy.

“We think a first look at Rezolve’s conversational commerce live enterprise customer could act as a meaningful sentiment catalyst,” he said.

Rezolve reported second-half 2025 revenue of $40.5-million, above the $34.9-million consensus estimate, while posting an Adjusted EBITDA loss of $57.3-million, wider than the expected $15.0-million loss. Gross margin fell to 61% from 96% in the first half, though management said it expects recovery as the SaaS model drives more upsell-led growth. As of Dec. 31, the company had more than 950 active enterprise customers with combined contracted ARR of $232-million.

For 2026, management guided to $360-million in revenue and reiterated its $500-million exit ARR target, excluding any contribution from acquisitions. Kulkarni said the larger growth opportunity this year is expected to come from upselling the existing base, though the company is also adding sales capacity, with headcount expected to rise from about 60 today to roughly 80 to 100 by the end of the second quarter. Management said Adjusted EBITDA profitability remains within its control, but is not expected this year because of continued sales and marketing investment.

Kulkarni said Rezolve’s platform handled 112.7 billion API calls in 2025, reached 59.8 million consumer devices through its SDK and detected 306.7 million geofence triggers, giving the company a large installed base to support cross-selling and the rollout of its conversational commerce product. He also pointed to the company’s annual letter, Architecting Agentic Commerce, which outlined Rezolve’s broader strategy across its brainpowa LLM, blockchain-enabled payments and related infrastructure.

Kulkarni said Rezolve should post an Adjusted EBITDA loss of $0.6-million on revenue of $348.0-million in fiscal 2026, improving to Adjusted EBITDA of $40.5-million on revenue of $532.0-million in fiscal 2027.

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