AVX · AgriFORCE Growing Systems Ltd.

AVAX One Technology Ltd. reported its first quarter 2026 financial results, highlighting a significant revenue increase to $2.5 million from $0.3 million in the prior year quarter, driven by $1.9 million in Avalanche staking rewards and $0.6 million from Bitcoin mining. However, the company recorded a GAAP net loss of $46.4 million, largely due to $43.3 million in non-cash charges, including a $36.3 million unrealized loss on digital asset market value changes. Adjusted net loss, excluding these items, was $2.9 million. The company reiterated its full-year 2026 revenue guidance of $11 million to $12 million at current spot prices, with EBITDA of $2 million to $3 million. Management emphasized the strategic repositioning toward AI/HPC data center infrastructure, with a 10 MW micro-grid project in Alberta and expansion of Bitcoin mining capacity. Additionally, AVAX One received a Nasdaq notice for non-compliance with the minimum bid price rule but was granted continued listing until July 6, 2026, to regain compliance. The company holds approximately 14 million AVAX tokens, with over 90% staked, generating an annualized yield of about 6%. The earnings call was held on May 14, 2026, and a replay is available.