SOL Reserve Strategy Company Upexi Announces Record Quarterly Performance, Pledged Income Reaches $6.1 Million

According to reports, Upexi, a Solana-based digital asset reserve and consumer brand company, announced record quarterly performance, with digital asset revenue surpassing $6 million driving overall gross profit to $8.3 million, a year-on-year increase of 183%.

The NASDAQ-listed company's financial report shows total revenue of $9.2 million in the first quarter (compared to $4.4 million in the same period last year), with digital asset revenue from pledged income contributing $6.1 million. The company completed a $200 million private placement of common stock and convertible bonds this quarter, and signed a $500 million equity financing agreement with A.G.P to accelerate the expansion of its Solana asset reserve strategy.

Quarterly net profit reached $66.7 million ($1.21 per share), turning a loss of $1.6 million ($1.55 per share) in the quarter ending September 30, 2024 into a profit. The announcement on Wednesday stated that profit growth mainly came from unrealized gains of approximately $78 million from Solana asset reserves.

With the latest increase in holdings last week, Upexi's total holdings now exceed 2.1 million SOL tokens.

Related Articles