A Bargain Hunters Dream?
After Attending a Management Dinner Presentation in Palm Beach Last Week, We Say Yes it is!
Adding Virtuix (VTIX) to Watch List $1.20
LIVE QUOTE
A Truly Amazing Story – Plus Even More Amazing IPO Story.
Truly Amazing Story:
After an end-of-the-week dinner presentation with CEO Jan Roger Goetgeluk, we decided to spend the past weekend (aside from some beach time, watching the Chicago Bears, and enjoying a few beers) digging in and reading about Virtuix (VTIX).
Not too deeply though – but deep enough – to come to realize that this has all the markings of a bargain hunter’s dream. As we’ve said a million times, we’re not traders, so when we say ‘bargain’ – we’re thinking bargain priced – compared to the price a year or two down the road from now. Though anything can happen by then.
We’re not thinking about it trading from near $1.00 where it is today, to $3.00, or even $4.00, when (or if) the indiscriminate selling finally ends (it’s down 98.7% from the post IPO peak) or wherever the flippers flip it, for a short-term gain. That’s not our game-plan.
What we’re thinking about is a juncture where FOMO starts to set in with longer term investors, who start to digest (or re-examine) news of a Facebook/META partnership – announced just a few months ago, that was ignored during the selling panic.
Virtuix + Facebook’s Army of Headset Users = Investor Enthusiasm = Considerably Higher Stock Price.
That is our simple investment thesis. While it has been a wild ride this year (up 951% day of IPO), not many investors have ever heard of Virtuix. Had you?
Virtuix’s Omni One + Facebook’s Meta Quest
Note, there’s not a lot of stock out there and if the shares of the flippers, lands into the accounts of long-termers, it could set the stage for a sustained move, that better reflects Virtuix’s true longer-term potential.
The revenue potential is equally simple, which could be generated by millions of users across the country and the world – who like in the photo below – enjoy running around in a virtual world. Literally.
The Virtuix Experience – is off of the couch and physically walking or running. And it doesn’t matter if it’s snowing or raining out, because it’s on a real treadmill in a virtual world, but in your living room. You could be working out and fighting dragons in your underwear. Great Christmas gift, and they have a convenient payment plan for a little as $104 a month!
Yes, we have a fertile imagination, but we’ve seen this movie before.
What we’re really thinking about, is where does it trade up to, when (or if) the market starts to perceive that Virtuix is gaining traction, with the 26.7 million people who’ve already bought Facebook/META’s Meta Quest headset (formerly Oculus Quest). Who can now easily hook it up to Virtuix’s Full-Body Experience.
So we started with re-reading the IPO papers again last weekend, which we first read in January during their IPO. Watched a lot videos about their immersive technology (see below) that transports the player ‘into’ the game, like the user was actually there. Right inside the game.
There is plenty to get excited about.
This isn’t however a numbers story. We’re not watching revenues, profit margins or any of the traditional metrics. As we used to say during the dotcom boom, when we launched the Internet Stock Review in 1998, we are counting eyeballs. In fact for the next few years, all we are watching and counting is how many of the 26 million Facebook users (the low hanging fruit) are going to want to transition the headset they already bought, into an immersive virtual world.
BTW, there is a lot more to Virtuix than just Facebook. Like inroads to the Dept of Defense, but in this short report we’re just focusing on what would spark the most enthusiasm of long-term investors, which in our opinion will be the progress they have targeting Facebook users. If the Company later decides to work with us, we can go 5-deep into all the revenue opportunities, that lay ahead of them.
A little definition first. Facebook has two addressable markets to salivate over.
Facebook’s headset line that integrates natively with the Virtuix hardware (specifically the Omni One home VR treadmill). The brand that fits perfectly, with the Meta Quest line.
Virtuix officially launched its Omni One for Quest system through a “Made for Meta” partnership. This means you do not need a specialized or proprietary headset to use their treadmill anymore.
Supported Meta Headsets
The Virtuix Omni One treadmill works seamlessly via the native Omni Connect app on the following standalone Meta devices:
- Meta Quest 3
- Meta Quest 3S
- Meta Quest 2
- Meta Quest Pro
The treadmill pairs directly to these Facebook Quest headsets via Bluetooth, translating the user’s physical walking, running, crouching, and jumping directly into compatible Quest game libraries.
If someone purchases the Omni Core One edition (the treadmill-only package meant for PC-based VR), it also supports traditional PC VR headsets through SteamVR. This expands compatibility to brands like HTC Vive, Valve Index, and Pico devices if they are wired into a high-end gaming desktop. However, for native, standalone gaming without a PC, the Meta Quest headset is the primary intended device.
Our Baseline Target: Active Users (SAM)
Using the 6 million active users figure represents Virtuix’s Serviceable Addressable Market (SAM)—the subset of the market that is actively engaged and already spending money on VR content.
- Our Thoughts: These are warm leads. These users already have a habit of putting on their Meta Quest headsets weekly or monthly. Virtuix’s official “Made for Meta” integration acts as a plug-and-play premium accessory directly targeting this active base.
Our ‘Stretch’ Target: Cumulative Sales (TAM)
Using the 26M+ cumulative units sold figure represents Virtuix’s true Total Addressable Market (TAM). We frame this as the “Re-engagement Market.”
- Our Thoughts: It is a well-known industry challenge that standalone VR headsets suffer from a “retention problem” (people buy them, use them for a month, and then leave them in a drawer). We can argue that the Omni One treadmill solves the exact flaw that caused those millions of users to go inactive: a lack of true physical immersion and the presence of VR motion sickness (which is heavily mitigated when your physical legs match your in-game movement).
- Bringing full-body locomotion, 360-degree running, and an intense gamified fitness aspect (burning up to 700 calories an hour) can also give a compelling reason to “dust off” an inactive headset. That’s also a ‘stretch’ on our part, but you never know.
Bottom line, we can say if everything goes right, $100’s of millions are at stake.
IPO Prospectus: We define Omni One’s Total Addressable Market (“TAM”) in the U.S. as households that earn at least $75,000 and already own at least one gaming device (excluding smart phones). Based on census data from www.census.gov, about 24% of the 131 million U.S. households earned $75,000 or more in 2022, representing 31.5 million households. According to a Consumer Technology Association report, approximately 53% of U.S. households own a dedicated video game console, such as Xbox, PlayStation, or Nintendo. Therefore, we estimate the TAM for Omni One to be approximately 17 million households in the U.S.
Virtuix’s “Omni One” Full-Body Experience + Facebook’s/Meta “Quest” Headset. A Game Changer, Quite Literally.
While Virtuix has a ‘full’ gaming system (both headset and full-body immersion device) – on June 23, 2026, they announced that the Meta Quest headset would work with Virtuix’s full-body’ experience, providing a massive potential tailwind for Virtuix and the potential ‘re-engagement’ for Facebook Quest users.
News: Virtuix Launches Omni One for Quest.
Think about that in basic terms. Imagine a start-up that comes out with a ‘whole new’ VR experience – versus a start-up that’s comes out with a ‘whole new’ VR experience – that has an instant audience of 26 million users who’ve already paid for the headset.
Even better, it also works with the software they already paid for.
IF that perception sets amongst investors – there is simple no telling what the true upside is. So yes, it could fall below $1.00 again or it could ‘pop’ to $4.00, but in either case, we’re not overly concerned where it is headed short-term. Especially coming into the 2026 holiday buying season.
Here’s the best part that convinces us that we are on the right track, announced just six days ago.
Virtuix Expands Omni One for Quest Library to 75+ Games as Meta Unveils Next-Generation VR Glasses
This is like bringing a shot gun to a knife fight! We estimate it brings 3.5 million to 5 million unique Facebook VR users knocking on Virtuix’s door.
Here’s the Amazing Library That Cost Virtuix Nothing to Create:
META QUEST TITLES, AVAILABLE NOW
Most gaming peripherals by comparision launch with zero content, begging developers to port games over. Virtuix basically walked up to the fight with a fully loaded tactical shotgun by ensuring that the day a gamer sets up the Omni One in their living room, their existing Meta Quest library lights up with compatible games they’ve already paid for.
In tech, hardware always faces a classic chicken-and-egg problem:
- The Problem: Consumers won’t buy expensive hardware if there are no games, and developers won’t make games if nobody owns the hardware.
- The Virtuix Shotgun: By using the Omni Connect app to map their hardware natively onto major pre-existing Quest titles, Virtuix bypassed the entire developer bottleneck. They didn’t wait for a new ecosystem to grow; they hijacked an existing multi-million-user ecosystem.
Virtuix’s current ecosystem strategy relies heavily on eliminating software friction. By expanding its ‘Made for Meta’ library to over 75 titles, the Omni One natively integrates with games already owned by an estimated 3.5 million to 5 million unique VR users. Because the player has already sunk capital into buying titles like ‘Ghosts of Tabor’ (1M+ players) or ‘Into the Radius,’ purchasing an Omni One treadmill does not require them to reinvest in a brand-new library of software.
They are simply unlocking a full-body immersive experience for games they already play.
When looking closely at Virtuix’s official Quest lineup, Ghosts of Tabor is tied for the absolute highest slot, but the list actually contains two distinct 1-million-player blockbusters that serve as the twin pillars of their target market. Green Hell VR officially announced it has also hit the 1 million players milestone on Meta Quest.
Having both Ghosts of Tabor and Green Hell VR natively integrated gives Virtuix a massive advantage. Instead of carrying just one heavy hitter, their platform natively unlocks two of the most popular, deep-immersion survival and shooter games on the entire Meta Store ecosystem.
Even More Amazing IPO Story.
We originally heard about Virtuix from an investment banker friend at Maxim Group the underwriter, last January. It was rumored to be a ‘hot-IPO’ but nobody could have guessed how hot!
It was priced at $8.75 and intra-day opened at $20 and then traded as high as $92, a gain of 951% from the IPO price. At it’s post IPO peak it was valued at $3 billion. Around that point we understandably lost interest and stopped following it.
While we never imagined it could be valued at $3 billion (even if it was just for a few seconds), we also never imagined it would later retreat to $1.20 and a valued at $40 million. We think it is Serendipity we were invited to the dinner last week. If everything goes right in the next couple years and investors look back and see it went $8.00 to $92 to $1.00 and then to over $20 – it will be a story they can tell to the grandchildren for decades to come!
They chose a direct listing instead of a standard IPO. In a direct listing, existing shareholders (like early crowdfunding investors from StartEngine) can sell their shares directly to the public. The company itself does not issue brand-new shares to the public on day one to generate cash.
Because a direct listing typically yields $0 in proceeds for the company itself, Virtuix structured parallel private financing to keep its manufacturing runway funded:
- Immediate Cash: In conjunction with the listing, Virtuix secured an $11 million investment from Chicago Venture Partners.
- Safety Net: They also set up a conditional $50 million equity line of credit to draw down on as needed depending on market conditions.
DRUM ROLL
Videos
There are literally 100’s of videos. Here’s just two we liked:
Risks.
There are many, here’s some of the biggies.
Funding: Management has stated it has taken $50 million to get the technology to its current level of ‘state-of-the-art.’ They will need funding to bring the marketing to the same level. Sales alone won’t support the need.
Mark Cuban: Currently a fan, he is on record for having invested three times (easy to search) and has not sold, but if he sells for whatever reason, it could dampen investor enthusiasm who follow his lead.
Cuban’s website states “Applications of natural movement in virtual reality stretch far beyond gaming: training and simulation, fitness, virtual tourism, virtual tradeshows and events, meet-ups and multi-person adventures, virtual workplaces, museums, VR architecture, VR concerts… The possibilities are limitless.” Mark Cuban Companies / Virtuix.
Low Price: If it trades under $1.00 for an extended period of time as it recently has, enthusiasm can wane, with market jitters about a potential reverse split.
Lack of Consumer Acceptance. Recent numbers from the Company were outstanding. They reported:
“..number of Omni One orders is up approximately 3X quarter-to-date compared to the same period last year, following the June launch of Omni One for Quest in collaboration with Meta. The acceleration builds on the momentum reported in Virtuix’s first fiscal quarter, when Omni One orders increased 72% year-over-year. The Company believes its integration with the Meta Quest ecosystem significantly expands Omni One’s addressable market and provides a strong foundation for continued consumer growth.
Yet, nothing is assured even with the Facebook users earlier described.
Competition: Gaming is one of the most ruthlessly competitive markets there is, with massive technology giants constantly vying for player attention with billions of dollars at stake. In such a fast-moving space, traditional patent portfolios often fail to provide absolute protection, as larger competitors can easily innovate around hardware mechanics or out-spend smaller firms in prolonged legal battles. However, the sheer financial scale of the gaming sector means that even a highly competitive market leaves room for massive growth. Virtuix does not need to achieve total market dominance to be a financial home run; capturing just a tiny sliver of the multi-billion-dollar global gaming ecosystem translates to explosive revenue growth for a micro-cap company.
Ultimately, Virtuix’s real armor against this competition is not a stack of legal paperwork, but its first-mover operational traction and network effects. Because the company has already established a direct, plug-and-play “Made for Meta” integration pipeline across an active ecosystem of over 75 pre-existing titles, they have a massive head start that cannot be easily copied overnight. While a rival could theoretically engineer a similar physical treadmill design without violating patents, they cannot instantly replicate Virtuix’s deeply embedded software partnerships, its native Omni Connect developer relations, or its ongoing military validation. In a ruthless market, speed-to-market and deep software integration beat theoretical patent protection every single time, positioning Virtuix as an agile first-mover beautifully situated to absorb a flood of gaming capital.
About Virtuix
Virtuix Holdings Inc. (NASDAQ: VTIX) is a developer of AI-driven, full-body immersive simulation systems and the creator of the “Omni” omni-directional treadmill. Virtuix’s technology lets users physically move through virtual and AI-generated environments. The Company’s products are deployed across consumer entertainment, defense training and simulation, robotics, healthcare, research, and enterprise applications involving organizations including Meta, NASA, Tesla, KBR, and Sirica Therapeutics. The Company’s growing federal and defense footprint includes programs, deployments, and research initiatives involving the U.S. Army, Marine Corps, Navy, and Air Force.
Virtuix continues to expand the Omni brand from immersive entertainment into a broader, full-body simulation technology platform serving multiple commercial and government markets. For more information, visit virtuix.com or the Company’s new Investor Relations website at invest.virtuix.com.
Cautionary Note Regarding Forward-Looking Statements
This report and linked press releases contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” “could,” “would,” “potential” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statementsinclude, without limitation, statements regarding the Company’s sales and expansion plans, current and future game library, plans to pursue strategic acquisitions, potential impacts on future revenues or shareholder value, and the Company’s position in the defense training market. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the Company’s ability to identify, negotiate, and complete acquisitions on favorable terms or at all; the ability to successfully integrate any acquired business; risks related to government contracting, including contract cancellations, modifications, or funding changes; the uncertainties related to market conditions; and other factors discussed in the “Risk Factors” section of the Company’s registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Not a client, yet.
