CEA Industries Reports $115.2M Net Income and $319.6M BNB Holdings
BNC•CEA Industries reported FY26 net income of $115.2 million ($2.52 per diluted share), driven by a $282.9 million non-cash warrant gain offset by a $130.3 million unrealized digital asset loss. The company holds 515,544 BNB tokens valued at $319.6 million, generated $7.9 million in airdrop income, drew $10 million in USDC loans backed by $17 million of BNB collateral and repurchased 1.43 million shares for $3.8 million.
1. Fiscal 2026 Financial Results
CEA Industries reported net income of $115.2 million ($2.52 per diluted share) for fiscal 2026, driven primarily by a $282.9 million non-cash gain on warrant liability revaluation, partially offset by a $130.3 million unrealized loss on digital assets.
2. Digital Asset Holdings and Income
As of April 30, 2026, the company held 515,544 BNB tokens (487,956 unrestricted, 27,588 restricted) valued at $319.6 million and generated $7.9 million in non-operating income from Binance ecosystem airdrops.
3. Liquidity Actions and Share Repurchases
The company ended the year with $3.1 million in cash and drew $10.0 million in USDC under a master loan facility secured by $17.0 million of BNB collateral. Post-year-end, it repurchased 1,434,112 shares for $3.8 million under its repurchase program.
4. Corporate Governance and Litigation
During the year, board committees were reconstituted with independent directors and a new CFO was appointed. On May 22, 2026, the company filed suit to void its asset management agreement and recover fees, and launched an investor dashboard for real-time treasury transparency.
