Earnings Releases·Nov 12, 2026, 4:31 PM ET

Upexi — Fiscal First Quarter 2027 Earnings Summary

Total revenue declined to $3.5 million from $9.2 million year-over-year, driven by a drop in digital asset revenue to $3.1 million due to lower SOL prices, while net income rose to $89.1 million from $66.7 million primarily due to $102.0 million in unrealized digital asset gains.
The company strengthened its balance sheet by increasing cash to $6.4 million and stockholders' equity to $49.2 million (from a $53.8 million deficit), while successfully reducing BitGo borrowing interest rates from 11.5% to 7.5% to lower annual interest expense by approximately $2.3 million.
Strategic shifts include exiting legacy consumer product manufacturing and distribution operations, with management committing to acquire and hold Solana (SOL) in a disciplined manner, holding approximately 2.35 million SOL as of the quarter end.
Capital activities included issuing 8.8 million shares for $10.1 million in gross proceeds and netting the purchase of 30,100 SOL against the sale of 53,000 SOL, though the company also recorded a $147.0 million current portion of convertible notes payable.