Recent developments include extension of the share repurchase program, leadership changes, and new customer contracts supporting the smart cart business.

• In March 2026, the board approved a plan to extend the share repurchase program [N2].
• In January 2026, the company received a Nasdaq deficiency notification regarding its annual meeting [N3].
• The chairman of the board, Bentsur Joseph, stepped down effective December 31, 2025, with Gadi Graus appointed interim chairman [N5].
• In January 2026, the company authorized a $20 million share buyback program [N4].
• Northland Capital Markets initiated coverage with an outperform recommendation in March 2026 [N1].

A2Z Cust2Mate Solutions has secured significant purchase orders from large retail chains, including a $55 million order for 5,000 smart carts and a $30 million order for 3,000 carts, supporting recurring revenue through multiyear subscription agreements. The company’s retail media platform introduces a new revenue stream through advertising and commissions, with agreements involving well-known brands and retailers. Strategic partnerships with payment and retail technology providers facilitate international expansion and integrated solutions. The company’s strong liquidity position and recent equity financings provide capital to support growth initiatives and product development. The modular smart cart design and focus on data analytics position the company to capture value in the evolving retail technology market.

The company has incurred significant net losses and negative cash flows since inception, with a net loss of $38.5 million in 2025 and accumulated losses exceeding $138 million. Revenue concentration in the smart cart segment is high, with a large portion derived from a single customer, posing customer concentration risk. The smart cart market is competitive, with technological challenges related to product recognition and integration. The company depends on continued capital raising to fund operations and growth, and there are risks related to market adoption, execution of subscription and retail media models, and regulatory compliance. Recent board changes and Nasdaq deficiency notifications may indicate governance and compliance challenges.

A2Z Cust2Mate Solutions offers a comprehensive end-to-end smart cart solution combining hardware, proprietary software, anti-fraud technologies, and integrated payment systems. Its modular smart cart design with detachable control units facilitates scalable deployment and customization for various retail environments. The company’s recurring revenue model based on subscriptions and retail media advertising provides diversified income streams beyond one-time hardware sales. Strategic partnerships with payment providers and local distributors in multiple regions enhance market reach and support. The company’s focus on data analytics and retail media monetization through its Smart Cart Marketplace adds potential value for retailers and advertisers, differentiating it from competitors offering simpler scan-and-go or image recognition solutions. However, the smart cart market is competitive and technologically challenging, requiring ongoing innovation and market penetration efforts.

• Customer Concentration Risk: A significant portion of smart cart revenues is derived from a single customer, which may impact revenue stability if the relationship changes.
• Recurring Net Losses and Cash Flow: The company has a history of net losses and negative operating cash flows, relying on financing activities to fund operations.
• Competitive and Technological Risks: The smart cart market is competitive with technological hurdles in product recognition and integration, requiring ongoing innovation.
• Regulatory and Compliance Risks: The company has received Nasdaq deficiency notifications and faces governance changes, which may affect regulatory compliance.
• Execution Risk for Subscription and Retail Media Models: Transitioning to a subscription-based revenue model and monetizing retail media require successful market adoption and execution.

• A2Z Cust2Mate Solutions Corp. is a technology company incorporated in British Columbia, Canada, with operational offices in Israel and a subsidiary in the United States [S1].
• The company operates primarily through two Israeli subsidiaries: Cust2Mate Ltd. and Isramat Ltd., with Cust2Mate USA Inc. established in 2023 to serve the U.S. market [S1].
• A2Z focuses on four complementary business lines: (i) development and commercialization of retail smart cart solutions (Cust2Mate Products) primarily for grocery stores and supermarkets; (ii) manufacture of precision metal parts; (iii) provision of maintenance services in Israel; and (iv) development of Fuel Tank Inertia Capsule System technology for military and civilian automotive industries [S1].
• The company has shifted strategic focus to the Cust2Mate smart cart products since 2020, aiming to grow market share in the smart cart industry [S1].
• Cust2Mate smart carts are mobile self-checkout shopping carts with touch screens, proprietary software, and anti-fraud technologies, enabling real-time item scanning, payment via mobile apps, and digital services such as advertising and promotions [S1].
• The company offers modular smart carts with detachable control units to facilitate mass production and deployment, with sizes ranging from 75 liters to 275 liters to suit different retail environments [S1].
• Revenue is generated primarily from two segments: precision metal parts and smart carts. In 2025, revenues were $7.9 million, with 41% from smart carts (mainly one customer) and 59% from precision metal parts (multiple customers) [S1].
• The company has a recurring revenue model for smart carts based on minimal upfront fees plus monthly per-cart subscriptions under multiyear agreements, supplemented by a retail media platform generating advertising and commission revenues [S1].
• Key customers include Yochananof, a large Israeli retailer with a $55 million purchase order for 5,000 Cust2Mate 3.0 smart carts with upfront and monthly payments over 60 months [S1].
• The company has strategic partnerships with Nayax Ltd. for integrated payment solutions deployed initially in France, and with Trixo for deployment in Mexico and Central America, including a $25 million order for 3,000 smart carts [S1].
• Recent agreements include a $30 million purchase order from Super Sapir, an Israeli supermarket chain, for 3,000 smart carts with monthly subscription fees and exclusive rights to commercialize digital services within the chain [S1].
• The company has announced advertising agreements with Toys "R" Us Israel and The Red Pirate for campaigns on up to 5,000 smart carts, with revenue based on CPM and commissions on completed transactions [S1].
• The company has experienced net losses and negative cash flows since inception, with a net loss of $38.5 million in 2025 and accumulated losses of $138.2 million as of December 31, 2025 [S1].
• Research and development expenses increased significantly in 2025 to $9.9 million, driven by increased payroll and share-based compensation related to the smart cart segment [S1].
• The company had working capital of approximately $72.5 million as of December 31, 2025, including $13.5 million in cash and $77.1 million in short-term investments, with a strong liquidity position reflected by a current ratio of 11.42 and cash ratio of 13.03 [S1].
• The company has authorized and extended a share repurchase program, with board approval to extend the program announced in March 2026 [N2].
• The company received a Nasdaq deficiency notification regarding its annual meeting in January 2026 [N3].
• The chairman of the board, Bentsur Joseph, stepped down effective December 31, 2025, with Gadi Graus appointed interim chairman [N5].
• The company authorized a $20 million share buyback program in January 2026 [N4].
• Northland Capital Markets initiated coverage of A2Z Cust2Mate Solutions with an outperform recommendation in March 2026 [N1].
• The company completed a registered direct offering in December 2024 issuing 1.95 million shares at $6.40 per share [N6].
• The company announced compliance with Nasdaq listing requirements in October 2024 [N7].
• The company has announced stock splits in October 2024 [N8].