Upexi reported a net loss of 179 million USD in Q2 due to the decline in SOL price, despite a strong revenue increase and the digital asset segment surpassing the consumer goods segment for the first time.

Upexi's revenue more than doubled compared to the same period, but the loss mainly stemmed from unrealized fair value adjustments on the amount of SOL held. The company also increased its SOL holdings, maintained a high staking ratio, and added liquidity through convertible bonds and direct offerings.

MAIN CONTENT

  • Q2 revenue reached 8.1 million USD; the digital asset segment contributed 5.1 million USD.

  • Net loss of 179 million USD, including 164.5 million USD unrealized loss from cryptocurrency portfolio value adjustments.

  • Held over 2,17 million SOL at the end of the period; updated to approximately 2.4 million SOL; ending cash around 9.7 million USD.

Q2 results: increased revenue, but large losses due to SOL prices

Upexi reported revenue of 8.1 million USD in Q2, more than doubling year-on-year, but reported a net loss of 179 million USD due to the drop in SOL.

The digital asset segment (mainly from staking revenue) brought in 5.1 million USD, for the first time exceeding the consumer brand segment. However, the company reported a loss of 164.5 million USD from unrealized fair value adjustments on cryptocurrency holdings, bringing total net losses to 179 million USD.

SOL portfolio, staking, and liquidity enhancement steps

At the end of the quarter, Upexi held over 2.17 million SOL, with about 95% being staked; management noted that the current holdings have increased to approximately 2.4 million SOL.

To supplement liquidity, the company issued 36 million USD in convertible bonds based on locked SOL, while also conducting a direct registered offering worth 7.4 million USD. As a result, the ending cash reserves reached approximately 9.7 million USD. The previously announced 50 million USD share buyback program remains in effect.

Source: https://tintucbitcoin.com/upexi-lo-179-trieu-usd-vi-sol-giam/

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