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UPXI

Upexi, Inc.

UPXI

Upexi, Inc. • NASDAQ
$2.79 ▲ 0.18% (+0.01)
Market Cap $166.87 M
52w High $22.57
52w Low $1.90
Dividend Yield 0%
P/E 4.8
Volume 2.47M
Outstanding Shares 59.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $9.24M ▲ $-60.872M ▼ $66.748M ▲ 722.402% ▲ $1.21 ▲ $69.603M ▲
Q4-2025 $4.289M ▲ $9.909M ▲ $-6.926M ▼ -161.48% ▼ $-0.25 ▲ $-6.463M ▼
Q3-2025 $3.16M ▼ $5.146M ▲ $-3.832M ▼ -121.237% ▼ $-2.87 ▼ $-3.64M ▼
Q2-2025 $4.005M ▼ $4.047M ▼ $-1.301M ▲ -32.488% ▲ $-1.24 ▲ $-833.447K ▲
Q1-2025 $4.357M $4.265M $-1.626M -37.314% $-1.55 $-1.076M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $230.392K ▼ $15.067M ▼ $13.217M ▼ $1.851M ▼
Q4-2025 $2.975M ▲ $123.807M ▲ $33.709M ▲ $90.097M ▲
Q3-2025 $230.392K ▼ $15.067M ▼ $13.217M ▼ $1.851M ▼
Q2-2025 $406.347K ▼ $17.529M ▼ $13.766M ▲ $3.763M ▼
Q1-2025 $1.79M $18.603M $13.571M $5.032M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $66.748M ▲ $-17.409M ▼ $-30.345M ▲ $47.016M ▼ $-737.927K ▼ $-17.424M ▼
Q4-2025 $-6.926M ▼ $-4.286M ▼ $-105.051M ▼ $112.081M ▲ $2.745M ▲ $-4.475M ▼
Q3-2025 $-3.832M ▼ $-778.71K ▲ $-80.589K ▼ $683.344K ▲ $-175.955K ▲ $-809.3K ▲
Q2-2025 $-1.301M ▲ $-1.384M ▲ $0 ▼ $0 ▲ $-1.384M ▼ $-1.384M ▲
Q1-2025 $-1.626M $-1.975M $5.838M $-2.735M $1.292M $-2.142M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been relatively small and fairly flat over the past few years, which means the business has not yet shown strong top-line scaling. Gross profit is positive, but operating income and net income have been negative in most recent years, indicating that overhead, marketing, and other operating costs are outweighing the gross margin from sales. Profitability was closer to break-even earlier in the period, but more recent years show deeper losses and very volatile earnings per share, partly influenced by the reverse stock split. Overall, the income statement reflects a company still in investment and transition mode rather than a mature, consistently profitable operator.

Balance Sheet

Balance Sheet The balance sheet shows total assets and shareholders’ equity stepping up in the most recent year, suggesting new capital, acquisitions, or revaluation of holdings such as digital assets. Debt has increased from earlier years, but equity still exceeds debt, so the company is not highly leveraged on paper. However, the persistent lack of meaningful cash on the balance sheet raises questions about liquidity and financial flexibility, especially if access to capital markets tightens or if crypto asset values swing sharply. The growing role of digital assets in the asset mix also means the balance sheet is more exposed to market volatility than a traditional consumer company.

Cash Flow

Cash Flow Operating cash flow has hovered around break-even to slightly negative, showing that the core operations are not yet generating dependable cash. Free cash flow has also been flat to modestly negative, with very limited spending on physical capital, which is typical for an asset-light, e‑commerce–driven and crypto-focused model. This pattern suggests the company is still reliant on external financing, asset sales, or appreciation of its digital holdings rather than internally generated cash to fund growth and strategic moves. While this can work in a rising crypto and capital markets environment, it introduces meaningful risk if conditions reverse.

Competitive Edge

Competitive Edge Upexi competes in two very different arenas: crowded consumer product categories and the rapidly evolving crypto-treasury niche. In consumer goods, it relies on brand aggregation, Amazon and e-commerce know-how, digital marketing, and product differentiation (such as quieter pet grooming tools and specialized cannabinoid or supplement offerings). These markets are highly competitive with low switching costs, so execution in branding, reviews, pricing, and logistics is critical. In crypto, Upexi has carved out a distinctive position as a Solana-focused treasury company, which is unusual among public firms and can be a differentiator, but it also exposes the company to intense competition for investor attention and to regulatory and market risks from both the crypto and securities worlds. Overall, Upexi’s niche is unique but rests on relatively small scale and high external uncertainty.

Innovation and R&D

Innovation and R&D Innovation at Upexi is less about traditional lab R&D and more about product design, brand building, and financial and blockchain engineering. On the consumer side, products such as the quiet pet nail grinder, Delta‑8 THC edibles, mushroom-based wellness items, and nutraceutical gummies show a focus on niche consumer needs and emerging wellness trends. On the crypto side, the Solana-focused treasury strategy, active staking, and the plan to tokenize SEC-registered shares on Solana are genuinely forward-looking and, if executed, could be a notable proof-of-concept for blockchain-integrated public equities. The creation of dedicated subsidiaries for digital asset holding and Bitcoin mining investments further illustrates a willingness to experiment with new financial structures. The upside of this approach is potential early-mover advantage; the downside is high execution, regulatory, and technology risk tied to still-maturing ecosystems.

Summary

Upexi is a company in transition from being primarily a small-scale consumer brand aggregator to becoming a hybrid vehicle with a strong emphasis on digital assets, particularly Solana. Financially, it remains in a loss-making, cash-light state, with operations not yet generating steady profits or robust cash flow, which heightens reliance on capital markets and the performance of its crypto holdings. The balance sheet has grown but has shifted toward more market-sensitive assets and carries limited cash, which can amplify both upside and downside in turbulent markets. Competitively, Upexi’s combination of e‑commerce brands and a Solana-centric treasury strategy is unusual and could be attractive to investors seeking differentiated exposure, but it also introduces layers of complexity and risk that more traditional peers do not face. The future path will hinge on the company’s ability to execute cost controls, scale its brands, manage crypto volatility, and successfully roll out innovations like share tokenization and strategic corporate actions, all against a backdrop of regulatory and market uncertainty.

NEWS

November 26, 2025 · 8:00 AM UTC

Upexi, Inc. Announces Pricing of up to $23 Million Private Placement Offering of Common Stock and Warrants Priced above the At-the-Market Price under Nasdaq Rules

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November 17, 2025 · 8:00 AM UTC

SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Upexi, Inc. (NASDAQ: UPXI)

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November 13, 2025 · 8:30 AM UTC

Upexi Announces $50 Million Share Repurchase Program

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November 11, 2025 · 5:25 PM UTC

Upexi Reports Record Digital Asset Revenue for Fiscal First Quarter 2026

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November 6, 2025 · 8:00 AM UTC

Upexi to Host First Quarter 2026 Earnings Call on November 11th at 5:30 p.m. ET

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