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Oct 7, 2026, 8:00 AM ETTechnology

AVAX One — Third Quarter 2026 Earnings Summary

AVXAVAX ONE TECHNOLOGY LTD
Source

Financial Performance

  • Eliminated more than $14.9 million of debt during the third quarter of 2026.
  • Approximately $7.1 million of convertible debentures were converted into common shares.
  • Approximately $7.4 million of debt was repaid by the Company.
  • Approximately $0.4 million of debt was redeemed into common shares.
  • Convertible debt balance reduced to approximately $970,000 as of September 30, 2026.
  • Share repurchases totaled 333,500 shares (adjusted for the one-for-twelve reverse stock split effected June 15, 2026).
  • Common shares outstanding increased to approximately 9,987,248 as of September 30, 2026, compared to approximately 7,363,270 as of June 30, 2026.

Guidance and Future Outlook

  • Management stated the company is well-positioned to execute on growth and profitability initiatives.
  • The Company plans to enter the next phase of its digital asset treasury strategy.
  • No specific forward-looking financial guidance or revenue targets were provided in the release.

Business Segments and Product Lines

  • The Company maintains a strategic Avalanche digital asset treasury, accumulating AVAX and generating onchain yield through native staking and ecosystem participation.
  • Operations include bitcoin mining facilities.
  • The Company develops modular data centers.
  • No new product launches or specific segment revenue breakdowns were reported for the quarter.

Market and Competitive Landscape

  • The Company operates in the digital infrastructure sector, targeting exposure to the onchain economy and digital infrastructure layer.
  • No specific market share data or competitor comparisons were included in the release.

Risks and Challenges

  • Highly volatile nature of the price of Bitcoin, AVAX, and other digital assets.
  • Risk that the price of the Company's securities may be highly correlated to the price of the digital assets it holds.
  • Increased competition in the data center, AI/HPC, and digital asset industries.
  • Legal, commercial, regulatory, and technical uncertainties affecting the business.
  • Risks related to the timing and amount of share repurchases.

Management Commentary and Tone

  • Pete Wylie, Interim Chief Executive Officer and Chief Operating Officer, described Q3 as a period of "strong progress."
  • Management highlighted the simplification of the balance sheet, preservation of financial flexibility, and capital allocation to generate shareholder value.
  • The tone emphasized a "stronger financial foundation" to support future growth.

Other Key Points

  • A one-for-twelve reverse stock split was effected on June 15, 2026.
  • The Company is listed on the NASDAQ under the ticker symbol AVX.
  • The press release includes standard forward-looking statement disclaimers regarding Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.