Upexi — Fiscal Year 2026 Earnings Summary

Financial Performance

• Total revenue for the fiscal year ended June 30, 2026, was approximately $25.0 million, an increase from $15.8 million in fiscal 2025.
• Digital asset revenue, primarily consisting of staking income, totaled $17.4 million for the fiscal year.
• General and administrative expenses increased to $26.4 million from $11.9 million in the prior year, driven by the build-out of the treasury strategy.
• Net loss totaled $246.1 million ($3.87 per share), compared to a net loss of $13.7 million ($1.73 per share) in fiscal 2025; the loss was primarily driven by $195.1 million in unrealized losses on digital assets.
• Cash balances reached $5.8 million as of June 30, 2026, representing a 94% increase from June 30, 2025.
• Short-term treasury debt increased to $57.3 million from $20.0 million in the prior year.
• Convertible notes payable increased to $162.4 million from $0 in the prior year.
• Total stockholders' equity turned negative to $(53.8) million from positive $90.1 million in the prior year.

Business Segments and Product Lines

• The company operates as a Solana-focused digital asset treasury company and a consumer brands owner.
• Approximately 95% of the Solana (SOL) held was staked as of June 30, 2026.
• The company completed an efficiency initiative expected to result in staking revenue exceeding ongoing cash operating expenses beginning with the current quarter.

Operational and Other Highlights

• The company repurchased approximately 2.9 million shares of common stock during the period.
• Approximately $19.5 million was retired on the Company's secured convertible note.
• Subsequent to fiscal year-end, the Company amended its credit facility with BitGo Prime, LLC, reducing the interest rate from 11.5% to 7.5% per year and lowering required collateral.
• Subsequent to fiscal year-end, the Company issued approximately 2.5 million shares of common stock under its at-the-market program for approximately $2.5 million in gross proceeds.

Management Commentary and Tone

• CEO Allan Marshall stated that fiscal 2026 marked the first full year of the Solana treasury strategy and that the company focused on controllable factors in a subdued market.
• Management highlighted the fortification of the balance sheet through debt retirement, increased cash positions, and subsequent interest rate reductions on credit facilities.
• The CEO expressed confidence that the market will inevitably turn and that the improved balance sheet and expense base position the company well.

Other Key Points

• As of June 30, 2026, the Solana treasury held approximately 2.34 million SOL with an average purchase price of $154 per SOL.
• As of September 15, 2026, the Company had 82,102,474 shares of common stock outstanding.
• The Company's Annual Report on Form 10-K for the period is available on the SEC's website and the Upexi IR website.
• A conference call regarding these results was scheduled for September 17, 2026, at 5:30 P.M. E.T.