| Metric | Value ($ M) |
|---|---|
| Revenue | 2.46 |
| Total Income | 2.46 |
| Expenditure | -19.83 |
| PBT | 555.86 |
| Net Profit | 552.40 |
| OPM | 100.00% |
| NPM | 100.00% |
| EPS | 21.23 |
Stablecoin Development Corporation Reports Q1 2026 Results
20 May 2026 · 20 May, 6:12 pm
Summary
Stablecoin Development Corporation announced its financial results for the first quarter ended March 31, 2026. The company reported operating income of $22.3 million, compared to an operating loss in the same period last year. GAAP net income was $552.4 million, which included a significant non-cash gain from warrant-related effects. As of March 31, 2026, the company held approximately 2.15 billion SKY tokens, increasing to approximately 2.26 billion SKY tokens by May 14, 2026.
Key Highlights
- 1
Operating income was $22.3 million for the first quarter of 2026, compared with an operating loss of $3.3 million for the first quarter of 2025.
- 2
GAAP net income reached $552.4 million for the first quarter of 2026, including a net non-cash gain of approximately $535.0 million from warrant-related effects.
- 3
Staking revenue totaled $2.5 million, representing 35,386,649 SKY tokens earned during the first quarter of 2026.
- 4
An unrealized gain on digital assets of $22.7 million was recognized during the first quarter of 2026.
- 5
The company held approximately 2.15 billion SKY tokens as of March 31, 2026, representing approximately 9% of the total supply of SKY.
- 6
Cash and cash equivalents were $18.4 million, digital assets were $160.1 million, and total assets were $179.7 million as of March 31, 2026.
- 7
Approximately 2.26 billion SKY tokens were held as of May 14, 2026, after additional open-market purchases subsequent to quarter-end.
Management Comments
Michael Kazley
Our first quarter results mark the first reporting period in which SDEV’s financial statements reflect our transition to an on-chain holding company focused on the stablecoin economy. During the quarter, we generated staking revenue, recognized operating income driven primarily by our SKY position, and continued to execute our long-duration capital allocation strategy with public-company discipline. GAAP net income for the period also reflected significant non-cash warrant-related accounting gains, which we believe should be understood separately from the Company’s operating performance and cash position.
Informational and educational content only. Not investment advice.