Upexi’s shares rose 13.3% after earnings, indicating investors responded favorably to balance-sheet strengthening and substantial cost reductions despite a subdued Solana market. The company also pointed to staking revenue covering ongoing cash expenses beginning in the September quarter.
- Cash totaled $5.8 million at June 30, up 65% from the prior quarter, while Solana holdings were valued at $165.3 million and total assets at $180.1 million.
- Upexi extinguished roughly $20 million of debt in June and subsequently refinanced its credit facility, reducing the interest rate from 11.5% to 7.5% and lowering collateral requirements.
- The company outsourced manufacturing, warehousing, and logistics, reducing full-time employees from 59 a year ago to 10 and creating a more predictable expense base.
- Management expects staking revenue to more than cover ongoing cash expenses beginning in the quarter ending September 30, although this remains a forward-looking expectation.
- Solana fundamentals cited on the call included 48% year-over-year stablecoin supply growth, more than $420 million of tokenized equities, $5 billion in tokenized-equity trading volume, and a reported 97% market share in that category.
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