Revenue surged to $3.6M from $49K due to staking operations following the DAT strategy pivot, but a substantial unrealized loss on SOL holdings from price decline drove net loss to $99.8M versus $3.8M prior year.
Key takeaways
Diluted EPS was -$1.30, worsening 154.9% from -$0.51 in Q1 FY2025.
Net cash used in operating activities was $4.8M, up from $3.5M prior year, reflecting ongoing operating losses as the primary demand on working capital.