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Upexi (UPXI) investor relations material
Upexi Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Faced significant challenges from a 40% decline in Solana price during the quarter and further 31% drop post-quarter, impacting results and stock price.
Shifted treasury strategy to focus on holding and staking Solana tokens, exiting certain manufacturing and distribution operations to reallocate resources.
Approximately 95% of SOL treasury is staked to generate yield, with a single operating segment post-sale of E-Core.
Net loss widened to $178.9 million, primarily due to $164.5 million in unrealized losses on digital assets and $8.3 million in stock-based compensation.
Management remains optimistic, focusing on yield, prudent capital allocation, and mechanisms to increase Solana per share.
Financial highlights
Total revenue for the quarter was $8.1 million, up from $4.0 million year-over-year, with digital asset revenue at $5.1 million and consumer brands at $2.9 million.
Gross profit reached $6.7 million, a 126% YoY increase, but gross margin declined to 53.9% from 74.3% YoY due to inventory adjustments.
Net loss for the quarter was $178.9 million ($2.94/share), driven by $164.5 million in unrealized digital asset losses and $8.3 million stock compensation expense.
Cash and cash equivalents stood at $1.6 million at quarter end, with working capital at $93.4 million.
Over two million SOL held as of the report date, with 1.32 million liquid and 850,000 locked.
Outlook and guidance
Management remains confident in the long-term Solana opportunity and is shifting to a high-return treasury strategy.
Expectation to increase Solana tokens and quarterly treasury revenue going forward.
Focus on accretive growth, raising capital above NAV, and increasing yield in a low-risk manner.
Plans to launch a new, non-on-chain yield strategy in the second quarter.
Sufficient working capital projected for the next twelve months; shelf registration in place for potential future capital raises.
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