$UPXI

UPEXI, INC.

CIK:0001775194|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Revenue
Revenue	$ 7,568,822	$ 14,826,336
Digital asset revenue	17,429,206	985,009
Total revenue	24,998,028	15,811,345
Cost of revenue	2,630,320	4,943,305
Gross profit	22,367,708	10,868,040
Operating expenses
Sales and marketing	2,898,473	4,001,094
Distribution costs	2,627,626	4,691,964
General and administrative	26,398,877	11,935,582
Unrealized loss (gain) on digital assets	195,059,336	(105,474)
Realized loss on digital asset revenue conversion to USD	4,931,791	0
Realized loss on sale of digital assets	6,773,418	0
Stock-based compensation	21,895,814	2,356,862
Amortization of acquired intangible assets	76,760	76,758
Impairment on assets from manufacturing shut down	1,422,289	0
Impairment on acquired intangible assets	750,000	0
Depreciation	379,489	681,000
Lease Impairment (gain on settlement), Delray Beach facility	0	(269,994)
Total operating expenses	263,213,873	23,367,792
Loss from operations	(240,846,165)	(12,499,752)
Other expense, net
Interest expense, net	(13,561,210)	(1,173,714)
Gain on extinguishment of debt	10,288,342	0
Other expense, net	(1,945,665)	(10,743)
Other expense, net	(5,218,533)	(1,184,457)
Loss on operations before income tax	(246,064,698)	(13,684,209)
Income tax benefit (expense)	0	0
Net loss	$ (246,064,698)	$ (13,684,209)
Basic loss per share:
Loss per share	$ (3.87)	$ (1.73)
Diluted loss per share:
Loss per share	$ (3.87)	$ (1.73)
Basic weighted average shares outstanding	63,539,613	7,914,268
Fully diluted weighted average shares outstanding	63,539,613	7,914,268

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (246,064,698)	$ (13,684,209)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	456,249	757,758
Unrealized loss (gain) on digital assets	195,059,336	(101,332)
Realized loss on sale of digital assets	6,773,418	0
Digital asset revenue	(17,429,206)	(985,009)
Digital asset revenue conversion to USD	13,192,785	0
Realized loss on digital asset revenue conversion to USD	4,931,791	0
Amortization of loan costs	3,655,535	30,462
Loss on disposal of property and equipment	237,727	10,743
Gain on extinguishment of debt	(10,288,342)	0
Inventory write-off	0	748,874
Bad debt reserve for Amazon receivable	0	933,950
Reduction of acquisition payable	0	(152,500)
Lease impairment (gain on settlement)	0	(269,994)
Impairment on assets from manufacturing shut down	1,422,289	0
Impairment on acquired intangible assets	750,000	0
Issuance of stock for services	0	250,000
Stock-based compensation	21,895,814	2,106,862
Changes in assets and liabilities
Accounts receivable	60,271	(484,580)
Inventory	886,909	(470,188)
Prepaid expenses and other assets	(411,616)	222,005
Operating lease payable	(26,667)	20,965
Accounts payable and accrued liabilities	3,950,834	2,865,251
Deferred revenue	(8,636)	(222,100)
Net cash used in operating activities	(20,956,207)	(8,423,042)
Cash flows from investing activities
Proceeds from the sale of building	0	4,005,516
Proceeds from the sale of E-core	0	2,000,000
Proceeds from the sale of MW Products assets	175,000	0
Proceeds from the sale of VitaMedica, Inc.	2,000,000	0
Acquisition of digital assets	(40,035,365)	(104,910,839)
Proceeds from the sale of digital assets	8,030,606	0
Acquisition of royalty interest	(750,000)	0
Acquisition of property and equipment	(44,002)	(387,760)
Net cash used in investing activities	(30,623,761)	(99,293,083)
Cash flows from financing activities
Proceeds from issuance of common stock	75,158,289	92,556,053
Issuance of preferred stock series A	0	325,000
Proceeds from exercise of warrants	107,889	250,000
Repurchases of common stock	(2,773,959)	0
Proceeds from short-term treasury debt	5,000,000	0
Repayment of short-term treasury debt	(10,400,000)	0
Proceeds from issuance of convertible notes	0	350,000
Repayment of promissory notes	(560,000)	0
Proceeds from related party advance	0	75,000
Repayment of related party advance	0	(175,000)
Payments of equity issuance costs	(4,519,873)	0
Payments of debt issuance costs	(7,628,942)	0
Payment on acquisition notes payable	0	(66,655)
Payment on convertible note	0	(150,000)
Proceeds from issuance of short-term debt	0	20,000,000
Repayment of related party note payable	0	(500,000)
Repayment on note payable on building	0	(2,634,538)
Net cash provided by financing activities	54,383,404	110,029,860
Net increase in cash	2,803,436	2,313,735
Cash, beginning of period	2,975,150	661,415
Cash, end of period	5,778,586	2,975,150
Supplemental Cash Flow Disclosures
Interest paid	8,372,056	805,880
Income tax paid	11,313	0
Non-cash Investing and Financing Activities
Issuance of common stock for the repayment of convertible notes payable	12,285,122	1,750,000
Issuance of convertible debt for digital assets acquired	187,131,144	0
Issuance of short-term debt for digital assets acquired	$ 42,695,723	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Current assets
Cash	$ 5,778,586	$ 2,975,150
Accounts receivable, net	97,244	157,515
Inventory, net	265,961	1,152,870
Due from VitaMedica transition	10,766	228,017
Prepaid expenses and other assets	988,542	350,836
Current digital assets at fair value	109,625,166	49,913,655
Purchase price receivable - VitaMedica	0	2,000,000
Total current assets	116,766,265	56,778,043
Property and equipment, net	208,044	2,052,573
Intangible assets, net	86,353	163,113
Goodwill	673,854	848,854
Deferred tax asset	5,948,858	5,948,858
Digital assets at fair value, net of current	55,675,516	56,083,525
Other assets	163,223	192,123
Right-of-use asset, net	598,678	1,739,755
Total noncurrent assets	63,354,526	67,028,801
Total assets	180,120,791	123,806,844
Current liabilities
Accounts payable	277,644	1,039,370
Accrued compensation	5,277,309	3,470,296
Deferred revenue	4,519	13,155
Accrued liabilities	1,675,521	356,064
Accrued interest	2,349,162	792,449
Acquisition payable	260,652	260,652
Current portion of promissory notes	0	560,000
Short-term treasury debt	57,295,723	20,000,000
Current portion of Cygnet subsidiary notes payable	3,694,721	5,380,910
Current portion of operating lease payable	295,167	691,010
Total current liabilities	71,130,418	32,563,906
Operating lease payable, net of current portion	362,235	1,145,440
Convertible notes payable	162,442,056	0
Total long-term liabilities	162,804,291	1,145,440
Stockholders' equity
Preferred stock, $0.00001 par value, 10,000,000 shares authorized, and 150,000 shares issued and outstanding	2	2
Common stock, $0.00001 par value, 1,000,000,000 shares authorized, 78,702,358 and 38,270,571 shares issued and outstanding, as of June 30, 2026 and June 30, 2025, respectively	787	383
Additional paid in capital	252,793,813	150,640,935
Accumulated deficit	(306,608,520)	(60,543,822)
Total stockholders' equity	(53,813,918)	90,097,498
Total liabilities and stockholders' equity	$ 180,120,791	$ 123,806,844