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LITS

Lite Strategy, Inc.

LITS

Lite Strategy, Inc. • NASDAQ
$1.89 ▼ -1.56% (-0.03)
Market Cap $69.52 M
52w High $9.00
52w Low $1.46
Dividend Yield 0%
P/E -1.44
Volume 136.11K
Outstanding Shares 36.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $0 $3.008M ▲ $-3.639M ▼ 0% $-0.55 ▼ $-3.639M ▼
Q4-2025 $0 $2.878M ▲ $-2.688M ▼ 0% $-0.4 ▼ $-2.878M ▼
Q3-2025 $0 $2.774M ▼ $-2.573M ▲ 0% $-0.386 ▲ $-2.774M ▲
Q2-2025 $0 $3.451M ▼ $-2.677M ▲ 0% $-0.4 ▲ $-3.451M ▲
Q1-2025 $0 $7.984M $-8.007M 0% $-1.2 $-7.639M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $10.113M ▼ $113.337M ▲ $1.068M ▼ $112.269M ▲
Q4-2025 $18.011M ▼ $18.285M ▼ $1.354M ▲ $16.931M ▼
Q3-2025 $20.472M ▼ $20.779M ▼ $1.238M ▼ $19.541M ▼
Q2-2025 $23.739M ▼ $24.385M ▼ $2.287M ▼ $22.098M ▼
Q1-2025 $26.905M $27.75M $2.872M $24.878M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-3.639M ▲ $-4.508M ▲ $-100M ▼ $96.61M ▲ $-7.898M ▼ $-4.508M ▲
Q1-2025 $-8.007M ▲ $-11.45M ▲ $14.697M ▼ $0 ▲ $3.247M ▲ $-11.45M ▲
Q4-2024 $-18.406M $-17.999M $19.544M $-208K $1.337M $-17.999M

Five-Year Company Overview

Income Statement

Income Statement The income statement shows a company in transition rather than a mature operating business. Revenue has been very small and has now effectively disappeared, so results are driven more by financial gains and costs than by a stable underlying business. Profits have swung between loss and modest profit over the past few years, which signals volatility and limited earnings visibility. The recent return to a loss alongside no meaningful revenue fits a model where value will depend heavily on how well digital assets are managed, not on traditional product sales or services.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small base of assets and equity and essentially no debt. Asset levels have been shrinking, suggesting past cash use and limited reinvestment. Cash has been minimal, which points to a tight liquidity position and dependence on either capital markets, asset sales, or the value of digital holdings to fund operations. The absence of leverage helps reduce financial risk from borrowing, but the overall scale of the balance sheet is small, leaving little cushion if markets move against the company.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, reflecting ongoing expenses without a self-funding business engine. Free cash flow mirrors this, since there is virtually no capital spending. In practical terms, the company is burning cash at a steady but modest pace, which is manageable only if it can access new funds, monetize legacy assets, or benefit from appreciation in its digital asset holdings. There is not yet evidence of recurring cash inflows from the new strategy.

Competitive Edge

Competitive Edge Competitively, Lite Strategy is trying to carve out a very specific niche: a publicly traded, regulated way to gain exposure to Litecoin, with an actively managed treasury rather than a passive fund structure. Its first-mover status in this narrow area, the involvement of Litecoin’s creator on the board, and a specialist partner in digital asset trading all strengthen its position and brand story. At the same time, the business model is highly exposed to Litecoin’s reputation, regulation, and adoption, and it faces potential competition from simpler instruments like exchange-traded products or other companies that could copy the approach. Its prior biotech business does not currently provide a competitive edge in the new digital-asset-focused strategy, beyond the optionality of monetizing old drug assets.

Innovation and R&D

Innovation and R&D Innovation now is less about laboratory research and more about financial structure and market design. The company is experimenting with a Litecoin-centric treasury model, active treasury management, and the possibility of future Litecoin mining, which together form a novel corporate design rather than a traditional product pipeline. Classic R&D spending appears to have shrunk with the pivot away from drug development; remaining pharmaceutical candidates are being explored mainly for licensing or sale rather than heavy internal investment. The upside is a leaner cost base, but the downside is that future value depends more on execution of this new financial model and external market dynamics than on an internally driven technology pipeline.

Summary

Lite Strategy has undergone a radical shift from a small, loss-making biotech into a specialized digital asset treasury company centered on Litecoin. Financially, it remains pre-scale: minimal revenues, a thin balance sheet, and steady cash burn, but also almost no traditional debt. The new strategy aims to leverage first-mover visibility, expert partners, and strong Litecoin ties to become a regulated proxy for LTC exposure. Success will depend on three main factors: the long-term trajectory of Litecoin itself, the company’s discipline in managing its treasury and buybacks, and any incremental value it can unlock from legacy pharmaceutical assets. Overall, this is a focused, high-dependency model with clear strategic intent but elevated uncertainty and sensitivity to external market conditions.