Quarterly ResultMay 20, 2026, 08:42 AM
Stablecoin Development Corp Q1 Operating Income $22.3M; Net Income $552.4M
AI Summary
Stablecoin Development Corporation reported strong first-quarter 2026 financial results, achieving operating income of $22.3 million, a significant turnaround from an operating loss in the prior year. The company posted GAAP net income of $552.4 million, which included a substantial non-cash gain of approximately $535.0 million from warrant-related effects. Additionally, Stablecoin Development Corporation increased its SKY token holdings to approximately 2.26 billion by May 14, 2026, and generated $2.5 million in staking revenue during the quarter.
Key Highlights
- Operating income reached $22.3M for Q1 2026, a significant improvement from a $3.3M operating loss in Q1 2025.
- GAAP net income was $552.4M for Q1 2026, including a $535.0M non-cash gain from warrant-related effects.
- Held approximately 2.15 billion SKY tokens (9% of total supply) as of March 31, 2026, with a fair value of $160.1M.
- Increased SKY token holdings to approximately 2.26 billion as of May 14, 2026, following additional open-market purchases.
- Generated $2.5M in staking revenue from 35,386,649 SKY tokens earned during Q1 2026.
- Recognized an unrealized gain on digital assets of $22.7M during the first quarter of 2026.
- Cash and cash equivalents stood at $18.4M and total assets at $179.7M as of March 31, 2026.
- The Sky Protocol ecosystem generated $123.8M in gross revenue and $46.0M net surplus in Q1 2026.
Price Impact
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