Digital Asset Revenue Totaled $17.4 Million for Fiscal Year 2026
Solana Treasury Totaled Approximately 2.34 Million SOL as of June 30, 2026
Conference Call Scheduled for Today, September 17, 2026, at 5:30 P.M. E.T.
TAMPA, Fla., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ: UPXI) (the "Company" or "Upexi"), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced its financial results for the fiscal year ended June 30, 2026.
"Fiscal 2026 marked the first full year of our Solana treasury strategy, and in a subdued market for digital assets we focused on what we could control," said Allan Marshall, Chief Executive Officer of Upexi. "We fortified the balance sheet by retiring debt, increasing our cash position, and, subsequent to year-end, cutting the interest rate on our credit facility. We also completed our efficiency initiative, and expect staking revenue to exceed ongoing cash operating expenses beginning with the current quarter. The market will inevitably turn, and our improved balance sheet and expense base position us well."
Financial Highlights for the Fiscal Year Ended June 30, 2026
-- Total revenue for the fiscal year was approximately $25.0 million,
compared to $15.8 million for the fiscal year ended June 30, 2025.
-- Digital asset revenue, which primarily consists of staking income,
totaled $17.4 million.
-- General and administrative expenses were $26.4 million, compared to $11.9
million in the prior year, primarily reflecting the build-out of the
treasury strategy.
-- Net loss totaled $246.1 million, or $3.87 per share, compared to a net
loss of $13.7 million, or $1.73 per share, for fiscal 2025. The net loss
was primarily driven by $195.1 million of unrealized losses on digital
assets.
-- Cash totaled $5.8 million as of June 30, 2026, up approximately 94% from
June 30, 2025.
-- As of September 15, 2026, the Company had 82,102,474 shares of common
stock outstanding.
Solana Treasury as of June 30, 2026
-- Total SOL held of approximately 2.34 million, with an average purchase
price of $154 per SOL.
-- Approximately 95% of SOL held was staked.
Operational and Other Highlights During and Subsequent to the Fiscal Year
-- Repurchased approximately 2.9 million shares of common stock.
-- Retired approximately $19.5 million on the Company's secured convertible
note.
-- Subsequent to fiscal year-end, amended the Company's credit facility with
BitGo Prime, LLC, reducing the interest rate from 11.5% to 7.5% per year
and lowering the required collateral.
-- Subsequent to fiscal year-end, issued approximately 2.5 million shares of
common stock under the Company's at-the-market program for approximately
$2.5 million of gross proceeds.
The Company's Annual Report on Form 10-K for this period is available on the SEC's website and on Upexi's IR website.
Conference Call Information
Event: Upexi Fiscal Year 2026 Earnings Call
Date: Thursday, September 17, 2026
Time: 5:30 p.m. E.T.
Live Call: 1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779 (International)
Webcast: https://ir.upexi.com/news-events/ir-calendar
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until October 1, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13762518.
About Upexi, Inc.
Upexi, Inc. (Nasdaq: UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana - the cryptocurrency of the leading high-performance blockchain - Upexi utilizes three key value accrual mechanisms in intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.
Follow Upexi on X - https://x.com/upexitreasury
Follow CEO, Allan Marshall, on X - https://x.com/upexiallan
Follow CSO, Brian Rudick, on X - https://x.com/thetinyant
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Company Contact
Brian Rudick, Chief Strategy Officer
Email: brian.rudick@upexi.com
Phone: (203) 442-5391
Investor Contact
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Upexi@KCSA.com
UPEXI, INC.
CONSOLIDATED BALANCE SHEETS
June 30, 2026 June 30, 2025
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ASSETS
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Current assets
---------------------------------------- --------------- ---------------
Cash $5,778,586 $2,975,150
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Accounts receivable, net 97,244 157,515
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Inventory, net 265,961 1,152,870
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Due from VitaMedica transition 10,766 228,017
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Prepaid expenses and other assets 988,542 350,836
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Current digital assets at fair value 109,625,166 49,913,655
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Purchase price receivable - VitaMedica - 2,000,000
---------------------------------------- --------------- ---------------
Total current assets 116,766,265 56,778,043
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Property and equipment, net 208,044 2,052,573
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Intangible assets, net 86,353 163,113
---------------------------------------- --------------- ---------------
Goodwill 673,854 848,854
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Deferred tax asset 5,948,858 5,948,858
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Digital assets at fair value, net of
current 55,675,516 56,083,525
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Other assets 163,223 192,123
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Right-of-use asset, net 598,678 1,739,755
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Total noncurrent assets 63,354,526 67,028,801
---------------------------------------- --------------- ---------------
Total assets $180,120,791 $123,806,844
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Current liabilities
---------------------------------------- --------------- ---------------
Accounts payable $277,644 $1,039,370
---------------------------------------- --------------- ---------------
Accrued compensation 5,277,309 3,470,296
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Deferred revenue 4,519 13,155
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Accrued liabilities 1,675,521 356,064
---------------------------------------- --------------- ---------------
Accrued interest 2,349,162 792,449
---------------------------------------- --------------- ---------------
Acquisition payable 260,652 260,652
---------------------------------------- --------------- ---------------
Current portion of promissory notes - 560,000
---------------------------------------- --------------- ---------------
Short-term treasury debt 57,295,723 20,000,000
---------------------------------------- --------------- ---------------
Current portion of Cygnet subsidiary
notes payable 3,694,721 5,380,910
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Current portion of operating lease
payable 295,167 691,010
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Total current liabilities 71,130,418 32,563,906
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Operating lease payable, net of
current portion 362,235 1,145,440
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Convertible notes payable 162,442,056 -
---------------------------------------- --------------- ---------------
Total long-term liabilities 162,804,291 1,145,440
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Stockholders' equity
---------------------------------------- --------------- ---------------
Preferred stock, $0.00001 par value,
10,000,000 shares authorized, and
150,000 shares issued and
outstanding 2 2
---------------------------------------- --------------- ---------------
Common stock, $0.00001 par value,
1,000,000,000 shares authorized,
78,702,358 and 38,270,571 shares
issued, as of June 30, 2026 and June
30, 2025, respectively 787 383
---------------------------------------- --------------- ---------------
Additional paid in capital 252,793,813 150,640,935
---------------------------------------- --------------- ---------------
Accumulated deficit (306,608,520) (60,543,822)
---------------------------------------- --------------- ---------------
Total stockholders' equity (53,813,918) 90,097,498
---------------------------------------- --------------- ---------------
Total liabilities and stockholders'
equity $180,120,791 $123,806,844
---------------------------------------- --------------- ---------------
UPEXI, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended June 30, Year Ended June 30,
2026 2025
------------------------ ----------------------- -------------------------
Revenue
------------------------
Revenue $7,568,822 $14,826,336
------------------------ ----------------------- -----------------------
Digital asset revenue 17,429,206 985,009
------------------------ ----------------------- -----------------------
Total revenue 24,998,028 15,811,345
------------------------ ----------------------- -----------------------
Cost of revenue 2,630,320 4,943,305
------------------------ ----------------------- -----------------------
Gross profit 22,367,708 10,868,040
------------------------ ----------------------- -----------------------
Operating expenses
------------------------ ----------------------- -----------------------
Sales and marketing 2,898,473 4,001,094
------------------------ ----------------------- -----------------------
Distribution costs 2,627,626 4,691,964
------------------------ ----------------------- -----------------------
General and
administrative 26,398,877 11,935,582
------------------------ ----------------------- -----------------------
Unrealized loss (gain)
on digital assets 195,059,336 (105,474)
------------------------ ----------------------- -----------------------
Realized loss on
digital asset revenue
conversion to USD 4,931,791 -
------------------------ ----------------------- -----------------------
Realized loss on sale
of digital assets 6,773,418 -
------------------------ ----------------------- -----------------------
Stock-based
compensation 21,895,814 2,356,862
------------------------ ----------------------- -----------------------
Amortization of
acquired intangible
assets 76,760 76,758
------------------------ ----------------------- -----------------------
Impairment on assets
from manufacturing
shut down 1,422,289 -
------------------------ ----------------------- -----------------------
Impairment on acquired
intangible assets 750,000 -
------------------------ ----------------------- -----------------------
Depreciation 379,489 681,000
------------------------ ----------------------- -----------------------
Lease Impairment (gain
on settlement),
Delray Beach
facility - (269,994)
------------------------ ----------------------- -----------------------
Total operating
expenses 263,213,873 23,367,792
------------------------ ----------------------- -----------------------
Loss from operations (240,846,165) (12,499,752)
------------------------ ----------------------- -----------------------
Other expense, net
------------------------ ----------------------- -----------------------
Interest expense, net (13,561,210) (1,173,714)
------------------------ ----------------------- -----------------------
Gain on extinguishment
of debt 10,288,342 -
------------------------ ----------------------- -----------------------
Other expense, net (1,945,665) (10,743)
------------------------ ----------------------- -----------------------
Other expense, net (5,218,533) (1,184,457)
------------------------ ----------------------- -----------------------
Loss on operations
before income tax (246,064,698) (13,684,209)
------------------------ ----------------------- -----------------------
Income tax benefit
(expense) - -
------------------------ ----------------------- -----------------------
Net loss $(246,064,698) $(13,684,209)
------------------------ ----------------------- -----------------------
Basic and diluted loss
per share $(3.87) $(1.73)
------------------------ ----------------------- -----------------------
Basic and diluted
weighted average
shares outstanding 63,539,613 7,914,268
------------------------ ----------------------- -----------------
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