Antalpha’s Q1 Revenue Soars 52% to $20.7M; EBITDA Margin Hits 64%
ANTA•Antalpha delivered Q1 2026 revenue of $20.7M, up 52% year-over-year, with net income rising 85% to $2.7M. Adjusted EBITDA climbed 435% to $13.3M, boosting EBITDA margin to 64%, while the company debuted a beta Web3 AI agent and began deploying tokenized gold into yield protocols.
1. Q1 2026 Financial Results
Antalpha reported total revenue of $20.7 million for the quarter ended March 31, 2026, a 52% increase year-over-year, and net income attributable to Antalpha grew 85% to $2.7 million. Adjusted EBITDA rose 435% to $13.3 million, resulting in a non-GAAP EBITDA margin of 64%, up 46 percentage points from the prior year.
2. Lending Platform Performance
Margin loan TVL increased 8% to $1.28 billion while supply chain TVL declined 25% to $434 million. Total value of loans facilitated was $1.714 billion, down 3% YOY, and net fee margin improved by 21 basis points, driven by stronger margin loan take rates.
3. Tokenized Gold Strategy
The company advanced its tokenized gold platform, initiating deployments into yield-generating protocols in April to enhance utility and capture meaningful yield on XAUt holdings. Unrealized fair value gains on tokenized gold contributed $10.9 million to operating income in the quarter.
4. Web3 AI Agent Launch
Antalpha launched a beta version of its Web3 AI agent in May, enabling on-chain execution, data analytics, and crypto investment tools via natural language. Initial market testing is underway, with product development and validation as current priorities and no material financial impact expected near term.
