AtlasClear Holdings — Fiscal 2026 Earnings Summary

Financial Performance

• Reported preliminary fiscal 2026 total revenue of approximately $20.1 million, an 85% increase from $10.9 million in fiscal 2025.
• Reported interest income of approximately $1.8 million; total revenues plus interest income reached approximately $21.9 million, a 70% increase from $12.9 million in fiscal 2025.
• Commission revenue increased 56% to approximately $9.3 million, representing 46% of total revenue compared to 55% in fiscal 2025.
• Stock locate fees grew more than 20-fold to approximately $6.8 million (from $0.3 million), representing 34% of total revenue.
• Net gains on firm trading accounts contributed approximately $0.5 million.
• Non-commission revenue lines now represent approximately 54% of total revenues, up from 45% in fiscal 2025.
• Reported preliminary net income of approximately $2.0 million, marking the second consecutive year of positive net income.
• Cash and cash equivalents increased more than double to approximately $15.4 million at June 30, 2026, from $7.5 million a year earlier.
• Total stockholders' equity improved to approximately $21.1 million at June 30, 2026, compared to a deficit of approximately $6.8 million at June 30, 2025.
• Total liabilities decreased by approximately $17.6 million to approximately $50.1 million.
• AtlasClearing, Inc. subsidiary net capital increased 28% year-over-year to $14.4 million, up from $11.2 million, exceeding minimum requirements by $14.1 million.

Guidance and Future Outlook

• Expects to file the Annual Report on Form 10-K for fiscal 2026 and report full-year results by September 28, 2026.
• Plans to host a conference call to discuss fiscal 2026 results by September 28, 2026.
• Anticipates revenue contribution from six new correspondent broker-dealers as conversions are completed during fiscal 2027.
• Outlines a strategy to scale stock loan business and add new forms of interest income (margin balances, customer cash, securities lending) as new correspondents onboard.
• Intends to refile its application to acquire Commercial Bancorp of Wyoming.

Business Segments and Product Lines

• Launched and scaled the stock locate business during fiscal 2026, growing it from a standing start to nearly $7 million in fees.
• Signed six new correspondent broker-dealers in various stages of onboarding and conversion; revenue from these relationships is not reflected in fiscal 2026 results.
• AtlasClearing, Inc. subsidiary reported total revenues of approximately $21.8 million in its separate audited financial statements filed August 31, 2026, which include interest income within revenues.

Market and Competitive Landscape

• Growth achieved without reliance on at-the-market or equity line financing; no dilutive capital raises since October 2025.
• Shares outstanding were approximately 150.3 million at June 30, 2026, and approximately 151.8 million as of the release date.
• Company targets emerging financial institutions, fintechs, and advisors with a vertically integrated suite of brokerage, clearing, risk management, regulatory, and commercial banking solutions.

Risks and Challenges

• Preliminary results are unaudited and subject to completion of financial closing procedures and audit; actual results may differ materially.
• Risks include failure to enter into definitive agreements or complete proposed acquisitions (Target, Dawson James, Ark Financial Services, Commercial Bancorp of Wyoming).
• Potential delays in onboarding correspondent broker-dealers or failure of these relationships to generate anticipated revenue.
• Regulatory risks regarding approval of proposed acquisitions and the refiling of the Commercial Bancorp application.
• Market risks include slowdowns in securities or digital asset trading and shifting demand for trading, clearing, and settling products.

Management Commentary and Tone

• Executive Chairman John Schaible described fiscal 2026 as a "breakout year," highlighting that more than half of revenue now comes from business lines that barely existed two years ago.
• President Craig Ridenhour characterized the operating story at AtlasClearing as one of "execution," noting the ability to scale with incremental expense as new correspondents onboard.
• Management emphasized achieving growth without dilutive capital raises and building a foundation for their "bank strategy."

Other Key Points

• The company is pursuing a bank strategy through the planned acquisition of Commercial Bancorp of Wyoming and a proposed acquisition of an institutional digital asset business.
• Forward-looking statements include potential revenue, net income, and EBITDA contributions from proposed acquisitions, though no assurance is provided regarding their completion.
• Net capital at AtlasClearing is stated after deducting unsecured receivables from other broker-dealers for stock locate fees, which are treated as non-allowable assets until collected.
• Total revenues plus interest income is a supplemental non-GAAP measure presented because interest earned on balances held by the broker-dealer subsidiary is integral to operating economics.