Digital Asset Revenue Totaled $3.5 Million for the Quarter
Conference Call Scheduled for Today, May 12, 2026, at 5:30 p.m. Eastern Time
TAMPA, Fla., May 12, 2026 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced its financial results for the fiscal third quarter ended March 31, 2026.
"This quarter's results reflect diligently executing against our digital asset treasury strategy of accumulating SOL on an accretive per-share basis and maintaining a flexible capital structure that positions us to pursue opportunities as they emerge," said Allan Marshall, Chief Executive Officer of Upexi. "During the quarter, we grew the number of SOL held in our treasury by 9%, increased the number of tokens generated from staking, and repurchased approximately 2.5 million Upexi shares in the open market, all of which increased our Solana per share. Solana's best-in-class performance, costs, and institutional adoption gives us conviction that we are building long-term shareholder value around the network that we believe will revolutionize global finance."
Financial Highlights for the Quarter Ended March 31, 2026
Total revenue for the quarter was approximately $4.6 million, compared to $3.2 million for the same quarter ended March 31, 2025.
Gross profit totaled $4.4 million, up 179% year-over-year, due to the addition of the digital asset treasury business.
Net loss totaled $109.3 million, or $1.67 per share, compared to a net loss of $3.8 million, or $2.87 per share, for the quarter ended March 31, 2025. This net loss was largely driven by $92.3 million of unrealized losses on digital assets, reflecting non-cash quarter-end fair value adjustments.
Cash and cash equivalents increased to $3.5 million as of March 31, 2026.
Reduced short term debt by approximately $7.6 million, including approximately $5.4 million in short term treasury debt.
Operational and Other Highlights During and Subsequent to the Quarter
In the nine months ended March 31, 2026, the Company repurchased and retired 2,894,287 shares of Upexi common stock under the current repurchase program.
Completed $36 million private placement convertible note in exchange for 265,500 locked Solana tokens.
Completed $7.4 million registered direct offering.
Reduced ongoing operational costs, including the reduction of the employee count to 10 employees, the elimination of a warehouse lease and the elimination of several other general and administrative costs.
Management estimates that by July 1, 2026, the ongoing cash expenses for operations and interest will be less than the treasury's staking revenue at the current price of Solana.
The Company's Quarterly Report on Form 10-Q for this period is available on the SEC's website and on Upexi's IR website.
Conference Call Information
Event:
Fiscal Third Quarter 2026 Earnings Call
Date:
Tuesday, May 12, 2026
Time:
5:30 p.m. ET
Live Call:
1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779 (International)
Webcast:
https://ir.upexi.com/news-events/ir-calendar
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until May 26, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13760532.
About Upexi, Inc.Upexi, Inc. (NASDAQ:UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana - the cryptocurrency of the leading high-performance blockchain - Upexi utilizes three key value accrual mechanisms in intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.
Follow Upexi on X - https://x.com/upexitreasury Follow CEO, Allan Marshall, on X - https://x.com/upexiallan Follow CSO, Brian Rudick, on X - https://x.com/thetinyant
Forward-Looking StatementsThis news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Company ContactBrian Rudick, Chief Strategy OfficerEmail: [email protected]Phone: (203) 442-5391
Investor ContactKCSA Strategic CommunicationsValter Pinto or Jack Perkins[email protected]
UPEXI, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
March 31,
June 30,
2026
2025
ASSETS
Current assets
Cash
$
3,482,847
$
2,975,150
Accounts receivable, net
496,393
157,515
Inventory, net
215,237
1,152,870
Due from VitaMedica transition
336,239
228,017
Prepaid expenses and other receivables
990,957
350,836
Current digital assets at fair value
114,942,784
49,913,655
Purchase price receivable - VitaMedica
1,340,000
2,000,000
Total current assets
121,804,457
56,778,043
Property and equipment, net
241,215
2,052,573
Intangible assets, net
855,543
163,113
Goodwill
673,854
848,854
Deferred tax asset
5,948,858
5,948,858
Digital assets at fair value, net of current
69,960,104
56,083,525
Other assets
178,589
192,123
Right-of-use asset, net
711,063
1,739,755
Total noncurrent assets
78,569,226
67,028,801
Total assets
$
200,373,683
$
123,806,844
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
$
288,722
$
1,039,370
Accrued compensation
4,506,613
3,470,296
Deferred revenue
2,324
13,155
Accrued liabilities
2,166,822
356,064
Accrued interest
2,268,473
792,449
Acquisition payable
260,652
260,652
Current portion of promissory notes
-
560,000
Short-term treasury debt
57,295,723
20,000,000
Current portion of Cygnet subsidiary notes payable
3,694,721
5,380,910
