Upexi Reports Fiscal Second Quarter 2026 Financial Results
MWN-AI** Summary
Upexi, Inc. (NASDAQ: UPXI), a digital asset treasury company with a focus on Solana, reported its fiscal second quarter 2026 financial results, revealing total revenue of approximately $8.1 million, a notable increase from $4.0 million a year earlier. Digital asset revenue was the primary contributor, totaling $5.1 million, which represented a significant year-over-year growth. Gross profit for the quarter soared 126% to $6.7 million, attributed predominantly to the booming digital asset treasury business.
However, the company faced challenges, posting a net loss of $178.9 million, or $2.94 per share, compared to a loss of $1.3 million, or $1.24 per share, in the previous year. This substantial loss was largely driven by $164.5 million in unrealized losses on digital assets, which reflects non-cash fair value adjustments, and $8.3 million in stock-based compensation.
CEO Allan Marshall emphasized Upexi's strong conviction in the long-term potential of the Solana platform, despite recent market challenges, which he views as cyclical. The company raised approximately $10 million from a private placement and has initiated a $50 million share repurchase program, indicative of its commitment to increasing shareholder value. Upexi continues to expand its Solana holdings, aiming for a scalable model that fosters sustainable growth.
Cash and cash equivalents stood at $1.6 million as of December 31, 2025. Looking ahead, Upexi announced a strategic shift towards a high-return treasury strategy, positioning itself strategically in the evolving digital asset landscape. The company is scheduled to host a conference call today at 5:30 p.m. ET to discuss these results further.
MWN-AI** Analysis
Upexi, Inc. (NASDAQ: UPXI) has reported encouraging fiscal second-quarter results for 2026, particularly in its digital assets division, which generated $5.1 million in revenue—a significant milestone showcasing the company's adaptive strategy amid a challenging market. The overall quarter revenue reached approximately $8.1 million, double that of Q2 2025, with a gross profit increase of 126% year-over-year to $6.7 million, indicating robust operational efficiency in its growing digital asset treasury.
However, it's essential to contextualize these successes against Upexi's net loss of $178.9 million, primarily driven by unrealized losses on digital assets. This highlights the inherent volatility in cryptocurrency markets, especially as the firm navigates its ambitions with Solana (SOL). Investors should monitor how Upexi plans to manage these market risks while growing its asset base; the company currently holds over two million SOL.
The recent $10 million capital raise through a private placement and a $50 million share repurchase program may improve shareholder value while enhancing liquidity, both crucial for sustaining operations amidst significant unrealized losses. The management's focus on a high-return treasury strategy suggests a proactive shift that could drive profitability in the long term.
For potential investors, now may be an opportune moment to assess Upexi's fundamentals against its market dynamics. Caution is warranted, given the substantial net loss and volatility in assets. Investors should keep an eye on upcoming strategic updates, especially during the scheduled conference call. The increased development and adoption of Solana could indicate a recovery trajectory for Upexi if they capitalize on market trends effectively.
In summary, while Upexi demonstrates potential for long-term growth, especially within the digital asset space, the company remains high-risk primarily due to its current financial losses and market exposure. A balanced approach, weighing potential rewards against inherent risks, is advisable for stakeholders.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
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. (NASDAQ: 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 31, | Six Months Ended December 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 | ||||||||||||
FAQ**
How does Upexi Inc. (UPXI) plan to address the significant net loss of $178.9 million during the quarter, largely attributed to unrealized losses on digital assets?
What specific strategies will Upexi Inc. (UPXI) implement to enhance its digital asset revenue growth, which reached $5.1 million this quarter?
Given the 126% YoY increase in gross profit to $6.7 million, what operational improvements is Upexi Inc. (UPXI) focusing on to sustain this momentum?
Can Upexi Inc. (UPXI) elaborate on the expected impact of the newly announced $50 million share repurchase program on shareholder value and market perception?
**MWN-AI FAQ is based on asking OpenAI questions about Upexi Inc. (NASDAQ: UPXI).
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