Completed Strategic Transformation to AI Compute Infrastructure
Raised $343.5 Million in Capital to Fund Digital Asset Treasury Strategy
Solidified new leadership composition with world class CEO and board members
PITTSBURGH, March 31, 2026 (GLOBE NEWSWIRE) -- Axe Compute Inc. (NASDAQ: AGPU), a technology company focused on providing enterprise access to high-performance GPU compute infrastructure for artificial intelligence workloads, today reported financial results for the fiscal year ended December 31, 2025. The year ended December 31, 2025, represented the Company's foundational year. During the year, Axe pivoted to become a GPU compute infrastructure and digital asset treasury company, encompassing a strategic repositioning, as well as completing a $343.5 million capital raise, and the establishing a distributed GPU network capable of supporting enterprise-scale artificial intelligence workloads.
Christopher Miglino, Chief Executive Officer, Axe Compute Inc. stated, "2025 was a pivotal year for Axe Compute. In less than ninety days, we raised $343.5 million in capital, established a Strategic Compute Reserve through a digital asset treasury position in the ATH AI token, and reconstituted our balance sheet from negative equity to $47.7 million in stockholders' equity. Our priorities for 2026 are driving revenue and growth."
2025 BUSINESS AND OPERATIONAL MILESTONES
-- Treasury Strategy Launched (September 2025): The Company adopted a Strategic Compute Reserve focused exclusively on ATH, the native utility token of the Aethir decentralized GPU network. As of December 31, 2025, the Company held approximately 6.348 billion ATH in aggregate. -- PIPE Capital Raise (October 2025): Completed two concurrent private investment in public equity $(PIPE)$ transactions totaling $343.5 million in gross proceeds, providing the Company's primary funding mechanism for the Strategic Compute Reserve. -- Name Change (December 2025): The Company changed its name from Predictive Oncology Inc. to Axe Compute Inc. effective December 11, 2025, and began trading under the ticker symbol AGPU on December 12, 2025. -- Leadership Transition (February 2026): Christopher Miglino was appointed Chief Executive Officer added to the board of directors effective February 9, 2026, succeeding Raymond Vennare. Mr. Miglino brings 25+ years of experience building and operating public technology, fintech, and digital asset companies. -- Legacy Business Strategic Review (February 2026): The Company began exploring strategic alternatives for its Helomics Drug Discovery Services business, including a potential sale, partnership, licensing arrangement, or other transaction. The review is ongoing and the Board has not committed to a specific course. -- Board Reconstitution (March 2026): New board members were appointed to the Board of Directors, adding semiconductor, technology, and international telecommunications expertise to the Company's governance structure. -- GPU Network Access Established (March 2026): The Company established enterprise customer access to a globally distributed GPU network of over 435,000 GPUs across more than 200 locations through the Aethir network infrastructure, capable of supporting enterprise-scale AI training, inference, fine-tuning, and high-performance compute workloads. Axe Compute does not own or operate the underlying data center facilities or GPU hardware; the Company's platform provides marketplace access to this network on an asset-light model.
FULL YEAR 2025 FINANCIAL HIGHLIGHTS
-- Total Revenue: $125,284, derived entirely from the Company's Drug
Discovery Services legacy segment. No compute revenue was recognized in
fiscal 2025, as the Axe Compute segment launched in September 2025 and
had not yet commenced revenue-generating compute deployments as of
December 31, 2025.
-- Net Loss from Continuing Operations: $232.9 million. Notable non-cash
charges include: $152.5 million in unrealized losses on digital assets
due to the decline in ATH's fair value from acquisition to year-end;
$52.7 million loss on derivative instruments; and $16.6 million in
non-cash stock-based compensation.
-- Cash Used in Continuing Operations: $9.9 million for fiscal 2025,
compared to $10.1 million in fiscal 2024, reflecting operational
continuity at a controlled pace while the strategic infrastructure was
established.
-- Cash and Cash Equivalents: $10.8 million as of December 31, 2025,
compared to $0.6 million as of December 31, 2024.
-- Digital Asset Holdings: On December 31, 2025, we held approximately 2.837
billion unlocked ATH with a fair market value of $24.4 million, and a
right to receive 3.511 billion locked ATH that are subject to vesting
and/or transfer restrictions with a fair market value of $15.5 million
after applying a discount for lack of transferability and control.
-- Total Assets: $52.9 million as of December 31, 2025, compared to $5.0
million as of December 31, 2024.
-- Stockholders' Equity: $47.7 million as of December 31, 2025, compared to
a stockholders' deficit of $0.2 million as of December 31, 2024,
representing a $47.9 million improvement driven largely by the October
2025 PIPE transactions.
-- Capital Raised: $343.5 million in aggregate gross proceeds from the
October 2025 PIPE transactions, comprising approximately $50.8 million in
cash (Cash PIPE) and approximately $292.7 million in notional value of
ATH contributed in-kind (Crypto PIPE, discounted value of $173.3
million).
MARKET CONTEXT
Axe Compute operates against a backdrop of structural, supply-constrained demand for GPU compute infrastructure. Global AI spending is forecast to reach $2.52 trillion in 2026, a 44% increase year-over-year. Research estimates that approximately $6.7 trillion will be spent on data centers globally between 2025 and 2030, of which approximately 65.7% is GPU-related. As of early 2026, North American data center vacancy rates reached a record low of 1.6% and average GPU procurement lead times stand at 36 to 52 weeks. The Company believes this supply-demand imbalance creates a durable commercial opportunity for its distributed GPU compute model.
OUTLOOK
The Company does not provide formal financial guidance. The following forward-looking context is provided to assist investors in understanding management's operational priorities for 2026, and is subject to the risks and uncertainties described under the heading "Cautionary Statement Regarding Forward-Looking Statements" below.
Management's operational priorities for 2026 include: (i) deploying compute capacity to enterprise customers under reserved GPU capacity contracts, with the objective of generating initial Compute Services revenue; (ii) pursuing ATH staking activities to generate yield on the Company's treasury holdings; (iii) completing the strategic alternatives process for the Helomics legacy business; and (iv) advancing the Company's Strategic Compute Reserve , ATH treasury position through open market purchases where market conditions are favorable.
As of December 31, 2025, the Company had $10.8 million in cash and cash equivalents, and approximately 2.84 billion unlocked ATH tokens. Management believes the Company has access to sufficient liquidity sources to fund operations through fiscal 2026 and beyond, though results remain subject to ATH price volatility and other risks described in the Company's Annual Report on Form 10-K.
FINANCIAL STATEMENTS
SUMMARY BALANCE SHEETS
Axe Compute Inc. | As of December 31, 2025 and December 31, 2024
December 31, 2025 December 31, 2024
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ASSETS
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Cash and cash equivalents $10,790,850 $611,822
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Digital assets 24,439,598 --
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Digital asset receivable (current) 7,226,475 --
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Accounts receivable and other current
assets 313,024 1,614,096
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Total current assets 42,769,947 2,225,918
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Digital asset receivable (non-current) 8,258,681 --
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Property, equipment and other
non-current assets 1,859,718 2,746,599
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Total assets $52,888,346 $4,972,517
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LIABILITIES & STOCKHOLDERS' EQUITY
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Total current liabilities $4,266,896 $3,593,401
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Long-term lease and other non-current
liabilities 904,495 1,581,726
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