Upexi Posts $8.1M Q2 Revenue, Gross Profit Up 126%, Launches $50M Buyback
Upexi’s Q2 revenue was $8.1 million with $5.1 million from digital assets, gross profit reached $6.7 million and net loss was $178.9 million due to $164.5 million asset markdowns. It raised $10 million, launched a $50 million buyback and ended with $1.6 million cash, rising to $9.7 million post-quarter.
1. Fiscal Q2 Financial Performance
Upexi reported second quarter revenue of $8.1 million, including $5.1 million from its digital asset staking business, and achieved gross profit of $6.7 million, a 126% year-over-year increase. Net loss for the quarter was $178.9 million, driven primarily by $164.5 million of non-cash fair value adjustments on digital asset holdings.
2. Capital Raises and Buyback Program
The company secured $10 million in gross proceeds from a private placement convertible note, priced a $7.4 million registered direct offering and launched a $50 million share repurchase plan. Cash and cash equivalents stood at $1.6 million as of December 31, 2025, rising to approximately $9.7 million following post-quarter financing.
3. Strategic Initiatives and Liquidity Management
Upexi’s shelf registration on Form S-3 went effective, supporting its strategic shift toward a high-return treasury model focused on disciplined Solana accumulation. The company ended the quarter with 69.76 million shares outstanding and continues to scale its digital asset treasury with over two million SOL held.