Upexi Shares Drop 8% After Reporting $109.3M Net Loss in Fiscal Q3

Shares of Upexi, a Nasdaq-listed Solana-focused digital asset treasury company, declined 8% on Tuesday following the firm’s fiscal third quarter earnings release, with an additional 3.4% decline in after-hours trading. The company reported a net loss of $109.3 million for the quarter ended March 31, 2026, primarily driven by $92.3 million in unrealized losses on digital assets as Solana’s price declined during the period.

Despite the losses, Upexi reported total revenue of approximately $4.6 million for the quarter, up 43.8% year-over-year from $3.2 million in the prior-year period, with gross profit reaching $4.4 million, up 179% year-over-year. The company grew its Solana token count by approximately 9% during the quarter and completed a $36 million private placement convertible note while repurchasing 2.5 million of its own shares.