Quarterly ResultMay 13, 2026, 09:27 AM
USBC Q1 Net Loss $25.55M; Digital Asset Fair Value Down $20.0M
AI Summary
USBC, Inc. reported a net loss of $25.55 million for the three months ended March 31, 2026, significantly wider than the $3.58 million loss in the prior year. This was primarily driven by a $20.0 million non-cash unrealized loss on the change in fair value of digital assets and increased operating expenses. The company also completed the divestiture of its legacy non-invasive sensor technology business and continues to focus on developing financial-services network infrastructure and digital-asset banking capabilities.
Key Highlights
- Net loss widened to $25.55 million in Q1 2026 from $3.58 million in Q1 2025.
- Basic and diluted loss per share was $(0.07) in Q1 2026, compared to $(1.24) in Q1 2025.
- Operating expenses increased to $11.67 million in Q1 2026 from $2.21 million in Q1 2025.
- Non-cash unrealized loss on digital assets was $20.0 million in Q1 2026.
- Cash and cash equivalents decreased to $2.04 million as of March 31, 2026, from $4.09 million.
- Total assets decreased to $72.28 million as of March 31, 2026, from $93.67 million.
- Secured a $5.0 million loan payable during Q1 2026.
- Completed divestiture of legacy non-invasive sensor technology business on March 27, 2026.