Sharps Technology (STSS) Q1 2026 earnings summary

Executive summary

• Net loss of $86.2M for Q1 2026, driven by $70.8M unrealized and $10.8M realized losses on Solana (SOL) holdings after adopting a digital commodity treasury strategy in August 2025.

• Medical device segment shifted to sales/distribution only; manufacturing and R&D discontinued in October 2025.

• Staking revenue from SOL was $3.1M; product revenue from syringes was $192.8K.

Financial highlights

• Net revenue: $192.8K from medical device sales; $3.1M staking revenue from SOL.

• Gross margin: $(9.8)K; operating expenses totaled $89.4M, including $2.5M related-party consulting fees and $5.1M SG&A.

• Net loss: $86.2M vs. net income of $1.9M in Q1 2025.

• Cash at quarter-end: $12.3M; working capital: $16.2M.

• 100,000 SOL sold in Q1 2026 to fund operations.

Outlook and guidance

• Future operations to be funded by sale of SOL, equity offerings, and other financing until operating cash flow is sufficient.

• Focus remains on medical device distribution and digital asset treasury management.