Upexi, Inc. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overview: Upexi reported results amid a challenging crypto environment, with Solana declining 33% (from ~$125 to ~$83 per token) versus Bitcoin's 22% drop. The company focused on proactive capital management, expense reduction, and yield enhancement while adding its digital asset treasury business in 2025. Solana rebounded to ~96% by call date, with trading above NAV on a fully loaded basis.

Financial Highlights

  • Q3 Revenue: $4.6 million, up 44% from $3.2 million in Q3 2025 (prior year quarter).
  • 9-Month Revenue (ended Mar 31, 2026): $21.8 million, up 90% from $11.5 million in the prior year period, driven by treasury addition.
  • Q3 Net Loss: ~$109 million ($1.67 per share), including $92.3 million unrealized loss on digital assets.
  • 9-Month Digital Asset Revenue: $14.7 million (~100,000 Solana tokens staked).
  • 9-Month Unrealized Loss: $178.8 million (Solana at $83.11 liquid / $71.47 locked per token as of Mar 31, 2026).
  • Cash Position (Mar 31): $3.5 million cash + $2.5 million liquid Solana + $1 million locked Solana.

Solana Treasury & Capital Actions

  • Added ~189,000 Solana tokens in Q3 (9% sequential increase, 35% annualized growth).

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Operator: Good day, and welcome to the Upexi, Inc. Fiscal Third Quarter 2026 Financial Results Conference Call. Please note, this event is being recorded. I would now like to turn the conference over to Valter Pinto, Managing Director at KCSA Strategic Communications. Please go ahead. Valter Pinto: Thank you, operator. Good evening, and welcome, everyone, to the Upexi Fiscal Third Quarter 2026 Financial Results Conference Call. I'm joined today by Allan Marshall, Chief Executive Officer; Andrew Norstrud, Chief Financial Officer; and Brian Rudick, Chief Strategy Officer. Before we begin, I'm going to remind everyone that statements made during today's conference call may be deemed forward-looking statements within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of risks, uncertainties and other factors. For a detailed discussion of some of the ongoing risks and uncertainties in the company's business, I'll refer you to the press release issued this evening and filed with the SEC on Form 8-K as well as the company's reports filed periodically with the SEC. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law. In addition, during the course of the call, we may refer to non-GAAP financial measures that are not prepared in accordance with th

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