Sep 17, 2026 earnings call — Solana treasury and cost cuts
Upexi ended June 30 with $5.8 million in cash and reduced full-time employees to just 10.
Revenue $0.0B (est $0.0B) · EPS $-0.10 (est $-0.11)
Key quotes
"Key statistics from last quarter include a 48% increase in stablecoin supply over the prior year, tokenized equities growing to over $420 million from virtually 0 a year ago."
"We used some of the ATM proceeds to increase our cash position, which totaled $5.8 million as of June 30, up 65% from the prior quarter end."
"As previously guided, we expect these efforts to show up in the current quarter ending September 30 and specifically for our staking revenue to more than cover our ongoing cash expenses on a go-forward basis."
Analyst Q&A 2
increasing yield and converts
Q (Brian Kinstlinger · Alliance Global Partners): He asked how the company plans to maximize yield and what the top priorities are this fiscal year. He also asked why management calculates NAV assuming the converts will convert when the stock trades below strike.
A: They said they have 'slow-played' and looked at several opportunities. Management wants very low risk, recurring, understandable returns and said some opportunities became less attractive during the quarter, but they are still actively looking and could become more active if the crypto market recovers. On the converts, they said they are not willing to assume non-conversion and reported assuming conversion because volatility and option math suggest a significant chance the converts will convert.
"We did this transaction, assuming they would convert." — Allan Marshall (CEO)
capital choices and Blueprint partnership
Q (Gareth Gacetta · Cantor Fitzgerald): He asked how to think about capital allocation after the June private placement and whether that debt-buyback approach is repeatable versus buybacks. He also asked whether Blueprint was part of the Hivemind deal and how much treasury would shift to Blueprint.
A: Management said they will be creative in capital allocation, citing the Hivemind deal as an example and saying they may renegotiate, sweeten extensions, or seek other deals to create value. They said they will use the ATM and other tools more carefully this year and aim to raise capital in ways that could be accretive if SOL returns to prior levels. On Blueprint, they said they are partnering with Blueprint, not shifting more or less treasury to them, and the partnership is meant to expand footprint including Asian market access and platform features like the dashboard.
"I think what I would take from that is just our creativity and our awareness that these are things we have to accomplish this year." — Allan Marshall (CEO)