Upexi Q3 Net Loss Widens to $109.3M on Solana Losses

Upexi Inc., a Nasdaq-listed company that pivoted to a Solana treasury strategy, reported a widened net loss of $109.3 million for its fiscal third quarter ended March 31, 2026, primarily due to $92.3 million in unrealized losses on its digital asset holdings. The results, released Tuesday, drove shares down 8.16 percent to close at $1.35, though they rebounded 2.04 percent to $1.3776 in premarket trading.

Revenue rose 46 percent to $4.6 million from $3.2 million in the year-ago quarter, fueled by staking income from Solana tokens and the expansion of its digital asset treasury business launched in late April 2025. Gross profit increased 179 percent to $4.4 million. For the nine months ended March 31, revenue totaled $21.8 million, up from $11.5 million the prior year, with digital asset revenue contributing about $14.7 million, equivalent to roughly 100,000 tokens.

The company boosted its Solana holdings by 9 percent during the quarter, reaching 2.5 million tokens valued at more than $238 million as of March 31. This positioned Upexi as the second-largest publicly listed corporate Solana treasury, behind Forward Industries. Holdings included 1.4 million liquid tokens and 1...