Dynamix (ETHM) Q2 2026 earnings summary

Executive summary

• Blank check company focused on completing a business combination; no operating revenues to date, only non-operating income from trust investments and a one-time termination fee.

• The proposed business combination with The Ether Reserve LLC was terminated in April 2026, resulting in a $50 million termination fee received.

• The company continues to seek a new business combination and has until November 22, 2026, to complete one.

Financial highlights

• Net income for Q2 2026 was $56.8 million, compared to a net loss of $0.25 million in Q2 2025, driven by the $50 million termination fee and favorable warrant liability changes.

• For the six months ended June 30, 2026, net income was $67.9 million, up from $0.78 million for the same period in 2025.

• Cash and cash equivalents at June 30, 2026, were $46.1 million, with $176.1 million in the trust account.

• General and administrative expenses for Q2 2026 were $0.9 million, down from $1.15 million in Q2 2025.

Outlook and guidance

• The company intends to use trust account funds and cash on hand to pursue a new business combination.

• If no business combination is completed by November 22, 2026, the company will liquidate and return funds to shareholders.