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GlobeNewswire·

Sono Group N.V. Reports Third Quarter 2026 Results: Swings to Net Income in First Full Quarter as Only a Bitcoin Treasury Company

  • Sono Group N.V. reported a net income of $0.6 million for Q3 2026, a reversal from the $1.4 million net loss in Q3 2025.
  • This quarter marked Sono's first full quarter as a pure-play Bitcoin treasury company following the May 4, 2026 sale of its legacy solar business.
  • Q3 digital asset treasury income totaled $0.7 million, driven by a $1.5 million fair-value gain on Bitcoin holdings & $0.2 million in covered-call option income, partially offset by $1.0 million in losses on exercised calls.
  • As of September 30, 2026, the company held 53.40 Bitcoin with a fair value of $4.4 million, all pledged as collateral to Blockchain.com.
  • General & administrative expenses declined 24% to $0.6 million compared to $0.8 million in the prior-year quarter.
  • The company reported a net loss of $5.1 million for the first nine months of 2026, compared to net income of $7.4 million in the same period last year.
  • The SEC declared effective the Form S-4 registration statement on October 16, 2026, for a proposed redomiciliation from the Netherlands to Delaware.
  • Shareholders will vote on the redomiciliation at an extraordinary general meeting scheduled for December 11, 2026, for those of record as of November 13, 2026.
  • Sono announced a non-binding letter of intent on August 31, 2026, for a business combination with Sports One, which would rename the combined entity "Sports One."
  • Investors affiliated with Sports One purchased 283,500 ordinary shares (19.9% of outstanding shares) in a registered direct offering concurrent with the Sports One letter of intent.
  • Management concluded there is substantial doubt about the company's ability to continue as a going concern due to cash reserves of $0.5 million & $5.05 million in convertible debentures maturing between January & April 2027.
  • The company plans to address liquidity needs through further debt or equity financings, sales of Bitcoin holdings, & premium income from its covered-call program.
Company
Sono Group N.V.
Keywords
Nasdaq:SEV, Sono Group N.V., Sono, Sono Group, Digital Asset Treasury, Bitcoin, Q3 2026 earnings, Nasdaq: SSM, Sports One, sports ownership, sports team investment