Upexi Net Loss Balloons to $109 Million on Solana Treasury Markdown
Solana (SOL) treasury agency Upexi (UPXI) posted a $109.3 million internet loss for the fiscal third quarter ended March 31, 2026.
This marks a 2,776% soar from the $3.8 million loss a 12 months earlier, largely pushed by Solana (SOL) treasury markdowns.
Solana Treasury Strategy Magnifies Upexi’s Quarterly Losses
In the press launch, the agency stated the web loss was driven by non-cash unrealized losses on digital belongings, totaling $92.3 million in the course of the quarter.
Still, the Solana-focused treasury technique provided some vivid spots. Gross revenue climbed 179% year-over-year to $4.4 million.
In addition, the whole quarterly income edged up to roughly $4.6 million, from $3.2 million in the identical interval of 2025.
“During the quarter, we grew the variety of SOL held in our treasury by 9%, elevated the variety of tokens generated from staking, and repurchased roughly 2.5 million Upexi shares within the open market, all of which elevated our Solana per share. Solana’s best-in-class efficiency, prices, and institutional adoption offers us conviction that we’re constructing long-term shareholder worth across the community that we imagine will revolutionize world finance,” Allan Marshall, Chief Executive Officer of Upexi, said.
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The company also strengthened its stability sheet in the course of the quarter, ending March 31 with $3.5 million in money and equivalents and trimming short-term debt by about $7.6 million.
Capital exercise was equally busy. Over the 9 months ended March 31, Upexi purchased again and retired 2,894,287 of its frequent shares beneath an lively repurchase program. The agency additionally closed a $36 million non-public placement convertible observe for 265,500 locked Solana tokens.
On the associated fee aspect, administration has been making cuts. Upexi reduced the employee headcount to simply 10, terminated a warehouse lease, and likewise eradicated a number of different common and administrative prices.
“Management estimates that by July 1, 2026, the continuing money bills for operations and curiosity can be lower than the treasury’s staking income on the present worth of Solana,” the press launch learn.
Upexi is hardly alone within the crimson. Several digital asset treasury companies have absorbed quarterly losses amid declining crypto costs, placing strain on their stability sheets.
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The put up Upexi Net Loss Balloons to $109 Million on Solana Treasury Markdown appeared first on BeInCrypto.