| Metric | Value ($ M) | vs Q1 FY26 |
|---|---|---|
| Revenue | 2.21 | 10.2% |
| Total Income | 2.21 | 10.2% |
| Expenditure | 56.05 | 382.6% |
| PBT | -44.55 | 108.0% |
| Net Profit | -41.07 | 107.4% |
| OPM | — | |
| NPM | — | |
| EPS | -1.32 | 106.2% |
Stablecoin Development Corporation Reports Q2 2026 Staking Revenue of $2.2 Million and Grows SKY Position
31 Jul 2026 · 31 Jul, 6:20 pm
Summary
Stablecoin Development Corporation reported staking revenue of $2.2 million for the second quarter of 2026, with first-half staking revenue reaching $4.7 million. The company's SKY holdings grew to approximately 10% of the total supply, holding 2.29 billion tokens as of June 30, 2026. A significant non-cash unrealized loss of $50.6 million was recognized in Q2 due to market price declines in SKY, though no tokens were sold. Management highlighted the simplification of the capital structure by eliminating warrant liabilities and a strategic relocation to reduce costs, while emphasizing a focus on long-term value creation.
Key Highlights
- 1
Stablecoin Development Corporation reported staking revenue of $2.2 million for the second quarter of 2026 and $4.7 million for the first half of 2026.
- 2
The company grew its SKY position to 2.29 billion tokens as of June 30, 2026, representing approximately 10% of the total SKY supply.
- 3
A non-cash unrealized loss on digital assets of $50.6 million was reported for the second quarter of 2026 due to a decline in the market price of SKY.
- 4
The company eliminated all remaining warrant liabilities from its balance sheet by completing the cashless exercise of outstanding warrants.
- 5
Operating loss for the second quarter of 2026 was $53.8 million, largely driven by the non-cash unrealized loss on digital assets.
- 6
Net loss for the second quarter of 2026 was $41.1 million, or $1.32 per diluted share.
Management Comments
Michael Kazley
In the second quarter we continued to build our position in what we believe is one of the most attractive on-chain ecosystems in digital finance, generating $2.2 million of staking revenue while growing our SKY holdings to approximately 10% of total SKY supply. During the quarter we added to our SKY position through both open-market purchases and staking rewards, eliminated all remaining warrant liabilities to simplify our capital structure, and relocated our headquarters to West Palm Beach to lower our cost base. While the decline in the price of SKY during the quarter drove a non-cash loss in our reported results, no tokens were sold, the underlying fundamentals of the Sky Protocol ecosystem remain strong, and we are focused on disciplined execution as we position SDEV for long-term value creation.
Informational and educational content only. Not investment advice.