Upexi (UPXI) Fiscal Q4 and FY2026 Earnings Call: $246.1M Loss, 2.34M SOL Held
Source Tradingkey
Key Takeaways
- Upexi reported a fiscal 2026 net loss of $246.1 million, or $3.87 per share, primarily driven by $195.1 million in unrealized digital asset losses, $11.7 million in realized losses and $21.9 million in stock-based compensation.
- At June 30, 2026, the company held approximately 2.34 million Solana tokens with a $360.3 million cost basis, equal to an average cost of $154 per token. Approximately 95% of the holdings were staked.
- Digital asset revenue totaled approximately $17.4 million for the fiscal year, representing about 135,000 SOL earned.
- Upexi ended the quarter with $5.8 million in cash, up 65% from the prior quarter, and extinguished roughly $20 million of debt in June. After year-end, it refinanced its credit facility, reducing the interest rate from 11.5% to 7.5%.
- The company reduced its full-time workforce from 59 a year earlier to 10 after outsourcing manufacturing, warehousing and logistics operations.
- Management expects staking revenue to more than cover ongoing cash expenses on a go-forward basis, with the benefits of its efficiency program expected to appear in the quarter ending September 30, 2026.
Key Financial Data
| Metric | Fiscal 2026 / June 30, 2026 | Comparison or context |
|---|---|---|
| Cash | $5.8 million | Up 65% from the prior quarter |
| Solana holdings | $165.3 million | Approximately 2.34 million SOL |
| SOL cost basis | $360.3 million | Average cost of $154 per token |
| Total assets | $180.1 million | As of June 30, 2026 |
| Working capital | $45.6 million | As of June 30, 2026 |
| Digital asset revenue | $17.4 million | Approximately 135,000 SOL earned |
| Unrealized digital asset losses | $195.1 million | Primary driver of the annual net loss |
| Realized digital asset losses | $11.7 million | Fiscal 2026 |
| General and administrative expenses | $26.4 million | Versus $11.9 million in fiscal 2025 |
| Stock-based compensation | $21.9 million | Versus $2.4 million in fiscal 2025 |
| Interest expense | $13.6 million | Versus $1.2 million in fiscal 2025 |
| Gain on debt extinguishment | $10.3 million | Related to acquisition debt reduction and partial convertible debt repayment |
| Net loss | $246.1 million | Versus $13.7 million in fiscal 2025 |
| Loss per share | $3.87 | Versus $1.73 in fiscal 2025 |
| Stockholders’ equity | Negative $53.8 million | Versus positive $90.1 million a year earlier |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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