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Virtuix Inc. (VTIX) began trading on the Nasdaq Capital Market on January 27, 2026, marking a milestone for the Austin-based company that pioneered full-body virtual reality gaming systems. The company's Class A ordinary shares trade under the ticker symbol VTIX following a direct listing that included an $11 million investment and a $50 million equity line of credit.
Founded in 2013, Virtuix designs and manufactures omni-directional treadmills that enable users to walk, run, crouch, and jump in 360 degrees inside virtual environments. Revenue for the six months ended September 30, 2025, grew 138% year-over-year. The company has generated over $20 million in sales to date across three product generations.
"We're only getting started," said Jan Goetgeluk, Virtuix's founder and CEO. "In a world where AI-driven 3D reconstruction methods can rapidly generate photorealistic virtual environments, the missing piece is the ability to move through those worlds naturally. We pioneer the technology to make that possible."
Kickstarter to Nasdaq: Years of Consistent Growth Attracted Mark Cuban to Invest Three Times
The path to Nasdaq began with a Kickstarter campaign in June 2013 that raised over $1.1 million, making it one of the most successful campaigns of its time. Goetgeluk had started developing the original Omni treadmill in 2011, motivated by the desire to walk naturally in virtual worlds rather than pushing buttons on a controller.
The company famously appeared on Shark Tank, where celebrity investor Mark Cuban initially passed on the opportunity. But Cuban reversed course and went on to invest in Virtuix three times across multiple funding rounds, joining venture capital firms Maveron and Scout Ventures in backing the company's vision.
Virtuix has raised $50 million total from high-profile investors, venture funds, and through equity crowdfunding that brought in over 10,000 retail investors. The company's valuation progressed from $6 million in 2014 to $201 million in its final private round in June 2025.
Virtuix Solved VR's Movement Problem
Virtual reality has long faced a fundamental challenge: how to enable natural movement without requiring massive physical space or causing motion sickness. When users press buttons to move in VR while standing still in reality, the disconnect between visual and physical movement triggers nausea for many people.
Virtuix's Omni platform solves this by syncing physical and visual movement. Users wear special low-friction shoes while walking or running on the circular treadmill surface. Sensors track movement in 360 degrees, translating real steps into virtual motion with minimal lag.
The technology becomes particularly powerful when combined with AI-driven 3D reconstruction techniques like Gaussian splatting. Virtuix released a video demonstrating how 360-degree camera footage captured by a drone can be converted into a photorealistic, walkable 3D environment in approximately two hours. The process involves scanning a real-world location, processing the data, and loading it onto the Omni system for immersive exploration.
"Going public provides us with access to capital to fund our growth and develop new products like Virtual Terrain Walk, our training system for the defense sector," Goetgeluk explained. Applications extend beyond gaming to virtual tourism, industrial training, real estate, and mission planning for defense and law enforcement.
Gaming Meets Fitness: The "Peloton for Gamers" That Burns up to 700 Calories Per Hour
The consumer-facing Omni One system launched in 2025 as a complete package including an optimized standalone VR headset. The system retails for $3,495 or $120 per month through financing, with a treadmill-only version available for $2,595.
Early customer response has been enthusiastic. One user reported losing 40 pounds in four months while playing games on the Omni One. Another customer noted burning 1,700 calories during a gaming session with friends. The company estimates users can burn up to 700 calories per hour depending on game intensity.
The fitness angle differentiates Omni One from traditional gaming and helps justify the premium price point. In a survey of over 1,600 investor customers, 55% didn't own a VR headset prior to purchasing Omni One, and 40% seldom played video games. The ability to combine entertainment with exercise appeals beyond the core gaming enthusiast demographic.
Virtuix has signed over 60 game titles for the Omni One platform, including popular franchises like Ghostbusters, Doctor Who, and Sniper Elite VR. The company releases new games monthly and operates a proprietary game store with titles optimized for treadmill play. Revenue comes from both the upfront hardware purchase and recurring subscriptions to "Omni Online" for $14 per month, plus game purchases averaging $30.
Customer reviews average 4.8 out of 5 stars, with 85% giving five-star ratings. The 2025 Auggie Awards recognized Omni One as the Best VR Interaction Product.
Three Revenue Streams From One Platform Technology
Virtuix's business model diversifies beyond consumer sales into enterprise and defense markets, each with different margin profiles and growth trajectories.
The consumer segment targets gamers in the U.S. market first, with international expansion starting in 2026. The company has production capacity to manufacture 3,000 units per month, representing approximately $100 million in annual revenue potential at current pricing. Target gross margins are 40% on hardware, with subscription and game sales delivering higher margins.
Enterprise sales focus on the treadmill hardware without the consumer headset, allowing connection to PC-based VR applications. The enterprise version sells for $4,995 and targets 70% gross margins. Use cases include corporate training and simulation, education, medical applications, and real estate walkthroughs. The AI-driven 3D reconstruction capabilities enable rapid creation of location-specific virtual environments.
The defense segment centers on Virtual Terrain Walk (VTW), a system that enables military commanders and units to walk through geo-specific terrain for mission planning and rehearsals.Â
VTW enables up to 12 geographically distributed users to simultaneously explore and annotate realistic battlefield environments, and to export planning data to mission command systems. The technology overcomes limitations of traditional projection-based simulations and room-scale VR systems that restrict movement area.
The Bull Case for VTIX
For investors seeking exposure to the growing gaming and defense markets driven by AI innovation, several factors support interest in Virtuix:
- Proven product-market fit with strong customer satisfaction. The company has shipped over 6,000 units across all product generations with customer reviews averaging 4.8 out of 5 stars. The 2025 Auggie Awards recognized Omni One as the Best VR Interaction Product.
- Revenue inflection point with capacity to scale. The 138% year-over-year growth and production capacity of 3,000 units per month positions the consumer segment alone to generate $100 million annually before accounting for subscription and game revenues.
- AI-Driven Edge. The company is a pioneer in 3D reconstruction technology that turns 360-degree camera footage into photorealistic, walkable 3D environments in just hours.
- Diversified revenue model reduces single-product risk. High-volume consumer sales supplemented by high-margin enterprise and defense contracts create multiple paths to growth. Defense applications offer substantial contract values once secured.
- Strong intellectual property protection. Virtuix holds 25 issued patents with 5 more pending, covering mechanical design and motion tracking. The required mix of competencies spanning electromechanical design, motion sensors, software development, and volume manufacturing creates barriers to entry.
- Favorable market trends provide tailwinds. The global video game market is projected to reach $722 billion by 2034, while the VR market specifically is forecast to grow at 19.7% annually, driven by massive investments from Meta, Apple, and Google.
- Access to capital enables execution. The $11 million investment and $50 million equity line of credit provide resources to scale sales and marketing while developing new products.
If Virtuix successfully executes on scaling manufacturing, achieving consumer adoption at volume, and securing defense contracts, the company is positioned to establish itself across multiple high-growth verticals including gaming, wellness technology, and AI-driven simulation.Â
Virtuix could fit into a variety of portfolios, whether focused on gaming stocks, defense tech, emerging technology companies, or wellness and fitness technology, depending on which revenue stream ultimately drives the most growth.
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