Digital Asset Revenue was $5.1 Million for the Quarter
Gross Profit Increased 126% YoY to $6.7 Million for the Quarter
Conference Call Scheduled for Today, February 10, 2026, at 5:30 p.m. Eastern Time
TAMPA, Fla., Feb. 10, 2026 (GLOBE NEWSWIRE) -- Upexi, Inc. $(UPXI)$ (the "Company" or "Upexi"), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced its financial results for the fiscal second quarter ended December 31, 2025.
"Our conviction in the long-term opportunity for Solana and our strategy remains stronger than ever despite the challenging market environment over the last several months - dynamics which we view as cyclical, not structural," said Allan Marshall, Chief Executive Officer of Upexi. "During the quarter, we continued to drive our business forward by delivering $5.1 million of digital asset revenue, raising approximately $10 million from a private placement, and implementing a $50 million share repurchase program. We remain encouraged by the increased development, usage and adoption of Solana across the financial landscape and have continued to grow our Solana holdings on a per-share basis. We believe we are well-positioned with a scalable model designed to drive sustainable growth, cash flow, and value creation over time for our shareholders."
Financial Highlights for the Quarter Ended December 31, 2025
-- Total revenue for the quarter was approximately $8.1 million, compared to
$4.0 million for the same quarter ended December 31, 2024.
-- Revenue from operations from the consumer brands business totaled
$2.9 million.
-- Digital asset revenue, which primarily consists of staking income,
totaled $5.1 million.
-- Gross profit totaled $6.7 million, up 126% year-over-year, due mainly to
the addition of the digital asset treasury business.
-- Net loss totaled $178.9 million, or $2.94 per share, compared to a net
loss of $1.3 million, or $(1.24) per share, for the quarter ended
December 31, 2024. This net loss was largely driven by $164.5 million of
unrealized losses on digital assets, reflecting non-cash quarter-end fair
value adjustments, as well as $8.3 million of stock-based compensation
expense.
-- Cash and cash equivalents were $1.6 million as of December 31, 2025.
-- As of February 9, 2026, the Company had 69,760,581 shares of common stock
outstanding.
Operational and Other Highlights Subsequent to the Quarter
-- Announced forthcoming strategic shift to a high-return treasury strategy.
-- Previously-filed shelf registration statement on Form S-3 went effective.
-- Announced the pricing of a $36 million private placement convertible note
in exchange for locked Solana.
-- Announced the pricing of a $7.4 million registered direct offering.
-- Current cash on hand stands at approximately $9.7 million.
The Company's Quarterly Report on Form 10-Q for this period is available on the SEC's website and on Upexi's IR website.
Conference Call Information
Event: Fiscal Second Quarter 2026 Earnings Call
Date: Tuesday, February 10, 2026
Time: 5:30 p.m. ET
Live Call: 1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779
(International)
Webcast https://ir.upexi.com/news-events/ir-calendar
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until February 24, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13758450.
About Upexi, Inc.
Upexi, Inc. (Nasdaq: UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana - the cryptocurrency of the leading high-performance blockchain - Upexi utilizes three key value accrual mechanisms in intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.
Follow Upexi on X - https://x.com/upexitreasury
Follow CEO, Allan Marshall, on X - https://x.com/upexiallan
Follow CSO, Brian Rudick, on X - https://x.com/thetinyant
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Company Contact
Brian Rudick, Chief Strategy Officer
Email: brian.rudick@upexi.com
Phone: (203) 442-5391
Investor Relations Contact
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Upexi@KCSA.com
Media Relations Inquiries
Greg or Katie @STiR-communications.com
STiR-communications.com
UPEXI, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
--------------------------------------------------------------------
December 31, June 30,
2025 2025
------------ ------------
(Unaudited)
------------ ------------
ASSETS
Current assets
Cash $ 1,616,765 $ 2,975,150
Accounts receivable, net 594,552 157,515
Inventory, net 728,273 1,152,870
Due from VitaMedica transition 304,880 228,017
Prepaid expenses and other
receivables 1,302,064 350,836
Current digital assets at fair value 164,703,917 49,913,655
Purchase price receivable -
VitaMedica 2,000,000 2,000,000
----------- -----------
Total current assets 171,250,451 56,778,043
Property and equipment, net 543,246 2,052,573
Intangible assets, net 874,733 163,113
Goodwill 673,854 848,854
Deferred tax asset 5,948,858 5,948,858
Digital assets at fair value, net of
current 90,998,464 56,083,525
Other assets 218,710 192,123
Right-of-use asset, net 636,449 1,739,755
----------- -----------
Total other assets 99,894,314 67,028,801
Total assets $271,144,765 $123,806,844
----------- -----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 665,840 $ 1,039,370
Accrued compensation 3,111,115 3,470,296
Deferred revenue 47,287 13,155
Accrued liabilities 1,964,281 356,064
Accrued interest 2,902,942 792,449
Acquisition payable 260,652 260,652
Current portion of promissory notes 560,000 560,000
Short-term treasury debt 62,695,723 20,000,000
Current portion of Cygnet subsidiary
notes payable 5,380,910 5,380,910
Current portion of operating lease
payable 263,672 691,010
----------- -----------
Total current liabilities 77,852,422 32,563,906
----------- -----------
Operating lease payable, net of
current portion 460,134 1,145,440
Convertible notes payable 144,115,480 -
Total long-term liabilities 144,575,614 1,145,440
----------- -----------
Stockholders' equity
Preferred stock, $0.00001 par
value, 10,000,000 shares
authorized, and 150,000 and
150,000 shares issued and
outstanding, respectively 2 2
Common stock, $0.00001 par value,
1,000,000,000 shares authorized,
and 63,212,588 and 38,270,571
shares issued, respectively 632 383
Treasury stock, 416,226 and 0, as
of December 31, 2025, and June
30, 2025, respectively (799,277) -
Additional paid in capital 222,236,002 150,640,935
Accumulated deficit (172,720,630) (60,543,822)
------------ -----------
Total stockholders' equity 48,716,729 90,097,498
------------ -----------
Total liabilities and
stockholders' equity $ 271,144,765 $123,806,844
------------ -----------
UPEXI, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended December Six Months Ended December
31, 31,
--------------------------- ---------------------------
2025 2024 2025 2024
--------------- ------------- ----------- ------------- -----------
Revenue
Revenue $ 2,908,527 $ 4,005,492 $ 6,064,655 $ 8,362,007
Digital asset
revenue 5,143,513 - 11,227,130 -
------------ ---------- ------------ ----------
Total revenue 8,052,040 4,005,492 17,291,785 8,362,007
Cost of revenue 1,340,881 1,031,386 2,297,626 2,457,833
------------ ---------- ------------ ----------
Gross profit 6,711,159 2,974,106 14,994,159 5,904,174
------------ ---------- ------------ ----------
Operating
expenses
Sales and
marketing 915,841 949,963 1,983,396 1,991,388
Distribution
costs 924,201 1,276,422 1,811,797 2,732,147
General and
administrative 5,522,786 1,548,590 14,779,994 2,916,280
Unrealized loss
on digital
assets 164,495,019 - 86,498,895 -
Realized loss on
digital asset
revenue
conversion to
USD 341,599 - 341,599 -
Stock-based
compensation 8,300,673 32,578 14,057,071 173,876
Amortization of
acquired
intangible
assets 19,190 19,190 38,380 38,380
Impairment on
assets from
manufacturing
shut down 1,422,289 - 1,422,289 -
Depreciation 134,388 220,562 270,290 460,467
------------ ---------- ------------ ----------
182,075,986 4,047,305 121,203,711 8,312,538
Loss from
operations (175,364,827) (1,073,199) (106,209,552) (2,408,364)
Other expense,
net
Interest
expense, net (3,604,709) (228,111) (6,304,092) (518,523)
Other income,
net 44,606 - 336,836 -
------------ ---------- ------------ ----------
Other expense,
net (3,560,103) (228,111) (5,967,256) (518,523)
Loss on
operations
before income
tax (178,924,930) (1,301,310) (112,176,808) (2,926,887)
Income tax
benefit
(expense) - - - -
------------ ---------- ------------ ----------
Net loss $(178,924,930) $(1,301,310) $(112,176,808) $(2,926,887)
============ ========== ============ ==========
Basic loss per
share:
Loss per share $ (2.94) $ (1.24) $ (1.93) $ (2.80)
============ ========== ============ ==========
Diluted loss
per share:
Loss per share $ (2.94) $ (1.24) $ (1.93) $ (2.80)
============ ========== ============ ==========
Basic weighted
average shares
outstanding 60,829,603 1,045,429 58,085,114 1,045,429
============ ========== ============ ==========
Fully diluted
weighted
average shares
outstanding 60,829,603 1,045,429 58,085,114 1,045,429
============ ========== ============ ==========
(END) Dow Jones Newswires
February 10, 2026 16:35 ET (21:35 GMT)