StableX Technologies (SBLX) Q4 2025 earnings summary

Executive summary

• Completed a strategic transition from electric vehicle manufacturing to a digital asset treasury model focused on stablecoin infrastructure tokens, targeting up to $100 million in crypto assets, with no revenue generated in 2025.

• Name changed from AYRO, Inc. to StableX Technologies, Inc. in August 2025, with a new Nasdaq ticker symbol SBLX.

• Operating activities in 2025 centered on digital asset acquisition, capital raising, and managing public company compliance.

Financial highlights

• Reported a net loss of $21.1 million for 2025, compared to a net loss of $1.8 million in 2024.

• No revenue was generated in 2025, down from $63,777 in 2024, due to the pause in EV manufacturing.

• Cash and cash equivalents at year-end 2025 were $5.0 million, with $3.2 million in marketable securities and $1.9 million in digital assets.

• Working capital decreased to $7.6 million at year-end 2025 from $17.1 million at year-end 2024.

• Accumulated deficit reached $139 million as of December 31, 2025.

Outlook and guidance

• Management believes existing cash and securities will not be sufficient to fund operations for the next twelve months; additional capital raises are anticipated.

• Plans to continue diversifying digital asset holdings and pursue further capital raising through equity and debt offerings.

• Strategic focus remains on stablecoin infrastructure tokens, with a three- to five-year investment horizon.