| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 0.71 | 14.5% |
| Total Income | 0.71 | 14.5% |
| Expenditure | 1.27 | 3.0% |
| PBT | 1.70 | 353.7% |
| Net Profit | 1.70 | 353.7% |
| OPM | -79.07% | |
| NPM | 100.00% | |
| EPS | 0.43 | 172.9% |
TaoWeave Reports Q1 2026 Net Income of $1.7 Million
19 May 2026 · 19 May, 1:43 am
Summary
TaoWeave, Inc. reported financial results for the first quarter ended March 31, 2026, with a net income of $1.7 million, driven by a $2.2 million unrealized gain on TAO holdings. Total revenue increased by 14% year-over-year to $0.7 million, including $86,000 from TAO staking revenue. The company's adjusted EBITDA loss narrowed by 31% year-over-year to $0.5 million. TaoWeave is focused on the Bittensor ecosystem and is evaluating opportunities to support the commercialization efforts of select subnet teams.
Key Highlights
- 1
TaoWeave reported a net income of $1.7 million, or $0.43 per diluted share, for Q1 2026, compared to a net loss of $0.7 million in Q1 2025.
- 2
Total revenue for Q1 2026 was $0.7 million, representing a 14% increase year-over-year.
- 3
The company's balance sheet is debt-free, with $2.1 million in cash and cash equivalents, plus 23,557 TAO tokens valued at $7.2 million as of March 31, 2026.
- 4
Adjusted EBITDA loss narrowed by 31% year-over-year to $0.5 million for the first quarter.
- 5
Digital Assets segment revenue was $86,000 from TAO staking rewards, with a segment gross profit of $80,000, or 93%.
- 6
Collaboration Products revenue increased by 75% year-over-year to $199,000, driven by spares orders and installation revenue.
- 7
Consolidated gross profit increased 89% to $470,000, with consolidated gross margin expanding from 40% to 66%.
Management Comments
Pete Holst
Eight months of evaluating subnet teams across the Bittensor ecosystem has uncovered some great teams and services that have imminent traction in the commercial market. The technical work and the speed at which many of these teams are building is impressive, and a testament to how Bittensor is designed. The challenge several of them are working through is the same one every technology company faces at the transition from early product market fit to commercial scale. Building the infrastructure is one discipline. Scaling that infrastructure into contracted enterprise revenue is another. It requires capital ahead of revenue, enterprise sales and customer success capabilities, financial controls that can withstand customer diligence, and the operational and reporting discipline institutional customers expect. From those evaluations we have identified a small number of teams where TaoWeave believes its operating experience and enterprise background could provide meaningful strategic value beyond capital alone. As the Bittensor ecosystem continues to mature, we believe opportunities will emerge for experienced operators to help bridge the gap between technical innovation and enterprise adoption.
Informational and educational content only. Not investment advice.