Digital Asset Revenue Totaled $17.4 Million for Fiscal Year 2026

Solana Treasury Totaled Approximately 2.34 Million SOL as of June 30, 2026

Conference Call Scheduled for Today, September 17, 2026, at 5:30 P.M. E.T.

TAMPA, Fla., Sept. 17, 2026 (GLOBE NEWSWIRE) — Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced its financial results for the fiscal year ended June 30, 2026.

“Fiscal 2026 marked the first full year of our Solana treasury strategy, and in a subdued market for digital assets we focused on what we could control,” said Allan Marshall, Chief Executive Officer of Upexi. “We fortified the balance sheet by retiring debt, increasing our cash position, and, subsequent to year-end, cutting the interest rate on our credit facility. We also completed our efficiency initiative, and expect staking revenue to exceed ongoing cash operating expenses beginning with the current quarter. The market will inevitably turn, and our improved balance sheet and expense base position us well.”

Financial Highlights for the Fiscal Year Ended June 30, 2026

  • Total revenue for the fiscal year was approximately $25.0 million, compared to $15.8 million for the fiscal year ended June 30, 2025.
  • Digital asset revenue, which primarily consists of staking income, totaled $17.4 million.
  • General and administrative expenses were $26.4 million, compared to $11.9 million in the prior year, primarily reflecting the build-out of the treasury strategy.
  • Net loss totaled $246.1 million, or $3.87 per share, compared to a net loss of $13.7 million, or $1.73 per share, for fiscal 2025. The net loss was primarily driven by $195.1 million of unrealized losses on digital assets.
  • Cash totaled $5.8 million as of June 30, 2026, up approximately 94% from June 30, 2025.
  • As of September 15, 2026, the Company had 82,102,474 shares of common stock outstanding.

Solana Treasury as of June 30, 2026

  • Total SOL held of approximately 2.34 million, with an average purchase price of $154 per SOL.
  • Approximately 95% of SOL held was staked.

Operational and Other Highlights During and Subsequent to the Fiscal Year

  • Repurchased approximately 2.9 million shares of common stock.
  • Retired approximately $19.5 million on the Company’s secured convertible note.
  • Subsequent to fiscal year-end, amended the Company’s credit facility with BitGo Prime, LLC, reducing the interest rate from 11.5% to 7.5% per year and lowering the required collateral.
  • Subsequent to fiscal year-end, issued approximately 2.5 million shares of common stock under the Company’s at-the-market program for approximately $2.5 million of gross proceeds.

The Company’s Annual Report on Form 10-K for this period is available on the SEC’s website and on Upexi’s IR website.

Conference Call Information

Event: Upexi Fiscal Year 2026 Earnings Call
Date: Thursday, September 17, 2026
Time: 5:30 p.m. E.T.
Live Call: 1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779 (International)
Webcast: https://ir.upexi.com/news-events/ir-calendar

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until October 1, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13762518.

About Upexi, Inc.

Upexi, Inc. (Nasdaq: UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana – the cryptocurrency of the leading high-performance blockchain – Upexi utilizes three key value accrual mechanisms in intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.

Follow Upexi on X – https://x.com/upexitreasury
Follow CEO, Allan Marshall, on X – https://x.com/upexiallan
Follow CSO, Brian Rudick, on X – https://x.com/thetinyant

Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Company Contact
Brian Rudick, Chief Strategy Officer
Email: brian.rudick@upexi.com
Phone: (203) 442-5391

Investor Contact
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Upexi@KCSA.com

     
UPEXI, INC.
CONSOLIDATED BALANCE SHEETS
     
  June 30, 2026
 June 30, 2025
ASSETS        
Current assets        
Cash $5,778,586   $2,975,150  
Accounts receivable, net 97,244   157,515  
Inventory, net 265,961   1,152,870  
Due from VitaMedica transition 10,766   228,017  
Prepaid expenses and other assets 988,542   350,836  
Current digital assets at fair value 109,625,166   49,913,655  
Purchase price receivable – VitaMedica –   2,000,000  
Total current assets 116,766,265   56,778,043  
Property and equipment, net 208,044   2,052,573  
Intangible assets, net 86,353   163,113  
Goodwill 673,854   848,854  
Deferred tax asset 5,948,858   5,948,858  
Digital assets at fair value, net of current 55,675,516   56,083,525  
Other assets 163,223   192,123  
Right-of-use asset, net 598,678   1,739,755  
Total noncurrent assets 63,354,526   67,028,801  
Total assets $180,120,791   $123,806,844  
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities        
Accounts payable $277,644   $1,039,370  
Accrued compensation 5,277,309   3,470,296  
Deferred revenue 4,519   13,155  
Accrued liabilities 1,675,521   356,064  
Accrued interest 2,349,162   792,449  
Acquisition payable 260,652   260,652  
Current portion of promissory notes –   560,000  
Short-term treasury debt 57,295,723   20,000,000  
Current portion of Cygnet subsidiary notes payable 3,694,721   5,380,910  
Current portion of operating lease payable 295,167   691,010  
Total current liabilities 71,130,418   32,563,906  
Operating lease payable, net of current portion 362,235   1,145,440  
Convertible notes payable 162,442,056   –  
Total long-term liabilities 162,804,291   1,145,440  
Stockholders’ equity        
Preferred stock, $0.00001 par value, 10,000,000 shares authorized, and 150,000 shares issued and outstanding 2   2  
Common stock, $0.00001 par value, 1,000,000,000 shares authorized, 78,702,358 and 38,270,571 shares issued, as of June 30, 2026 and June 30, 2025, respectively 787   383  
Additional paid in capital 252,793,813   150,640,935  
Accumulated deficit (306,608,520)   (60,543,822)  
Total stockholders’ equity (53,813,918)   90,097,498  
Total liabilities and stockholders’ equity $180,120,791   $123,806,844  
         

UPEXI, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
     
  Year Ended June 30, 2026
 Year Ended June 30, 2025
Revenue        
Revenue $7,568,822   $14,826,336  
Digital asset revenue 17,429,206   985,009  
Total revenue 24,998,028   15,811,345  
Cost of revenue 2,630,320   4,943,305  
Gross profit 22,367,708   10,868,040  
Operating expenses        
Sales and marketing 2,898,473   4,001,094  
Distribution costs 2,627,626   4,691,964  
General and administrative 26,398,877   11,935,582  
Unrealized loss (gain) on digital assets 195,059,336   (105,474)  
Realized loss on digital asset revenue conversion to USD 4,931,791   –  
Realized loss on sale of digital assets 6,773,418   –  
Stock-based compensation 21,895,814   2,356,862  
Amortization of acquired intangible assets 76,760   76,758  
Impairment on assets from manufacturing shut down 1,422,289   –  
Impairment on acquired intangible assets 750,000   –  
Depreciation 379,489   681,000  
Lease Impairment (gain on settlement), Delray Beach facility –   (269,994)  
Total operating expenses 263,213,873   23,367,792  
Loss from operations (240,846,165)   (12,499,752)  
Other expense, net        
Interest expense, net (13,561,210)   (1,173,714)  
Gain on extinguishment of debt 10,288,342   –  
Other expense, net (1,945,665)   (10,743)  
Other expense, net (5,218,533)   (1,184,457)  
Loss on operations before income tax (246,064,698)   (13,684,209)  
Income tax benefit (expense) –   –  
Net loss $(246,064,698)   $(13,684,209)  
Basic and diluted loss per share $(3.87)   $(1.73)  
Basic and diluted weighted average shares outstanding 63,539,613   7,914,268  
         


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