Quarterly ResultJul 30, 2026, 04:28 PM
Stablecoin Development Q2 Net Loss $(41.1)M; YTD Net Income $511.3M
AI Summary
Stablecoin Development Corporation, formerly NovaBay Pharmaceuticals, Inc., reported a net loss of $(41.07) million for the second quarter of 2026, but a net income of $511.33 million for the six months ended June 30, 2026, largely driven by non-cash gains on warrant liabilities. The company's strategic repositioning as an on-chain holding company focused on digital assets is reflected in its balance sheet, with digital assets comprising $119.24 million of its $127.51 million in total assets. Stockholders' equity saw a substantial increase to $127.24 million, and the company completed a 1-for-5 reverse stock split and a significant private placement.
Key Highlights
- Stablecoin Development reported a net loss of $(41.07) million for the three months ended June 30, 2026.
- The company recorded net income of $511.33 million for the six months ended June 30, 2026, primarily due to non-cash gains.
- Staking revenue was $2.21 million for Q2 2026 and $4.67 million for the six months ended June 30, 2026.
- Total assets increased to $127.51 million as of June 30, 2026, up from $9.04 million at December 31, 2025.
- Digital assets, primarily SKY tokens, were valued at $119.24 million as of June 30, 2026, representing 94% of total assets.
- Stockholders' equity improved significantly to $127.24 million from a deficit of $(631.82) million at December 31, 2025.
- The company completed a 1-for-5 reverse stock split on February 20, 2026.
- A private placement in January 2026 generated $134.0 million in gross proceeds, including $109.0 million in SKY tokens and stablecoins.
Price Impact
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