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Screener / SEC EDGAR /CIK 0001775194 /10-K filed Sep 17, 2026, compared with Sep 24, 2025 /Numbers from the XBRL of the 10-Ks
Crypto peers:
DJTHSDTTRONDFDVUPXIBTCS
Nasdaq Crypto · Financial Services

Upexi UPXI

UPXI quote by TradingView

We are in the cryptocurrency industry and the management of cash assets through a cryptocurrency portfolio, primarily focused in Solana tokens and generating a yield from the treasury, primarily through staking of those tokens. 10-K, Item 1

Headquarters
Tampa, FL
CEO
Allan Marshall
Next results
around Feb 9, 2027
Compare with peers Embed

UPXI among Crypto peers

Six ratios from the latest 10-K. Each corner is the share of 25 peers the company is above, not a score.

Compare
Revenue growth: 58.1%, above 72% of 25 peers (their median 26.3%) REVENUE GROWTH 58.1% · above 72% Gross margin: 90.8%, above 87% of 15 peers (their median 54.5%) GROSS MARGIN 90.8% · above 87% FCF margin: -100.9%, above 47% of 19 peers (their median -91.3%) FCF MARGIN -100.9% · above 47%
UPXI Peer median Below the median

What changed

23 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Sep 17, 2026 against Sep 24, 2025.

Risk factors
23 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Late filing notice (NT 10-K or NT 10-Q)
NT 10-Q filed May 16, 2025: the company said its 10-Q would be late (2 in 2 years)
10-K · XBRL
Critical audit matters changed
New this year: Convertible Debt Transactions (“As described in Note 10 to the consolidated financial statements, during the year ended June 30, 2026, the Company issued approximately $187.1 million of convertible notes. The notes were issued in exchange for Solana (“SOL”) digital assets, bear contractual interest at rates ranging from 1% to 2%, ”)
10-K · XBRL
Accounting checks
8 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
1 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 8 checks found nothing to note

  • Late filing notice (NT 10-K or NT 10-Q)
    NT 10-Q filed May 16, 2025: the company said its 10-Q would be late (2 in 2 years)
  • Critical audit matters changed
    New this year: Convertible Debt Transactions (“As described in Note 10 to the consolidated financial statements, during the year ended June 30, 2026, the Company issued approximately $187.1 million of convertible notes. The notes were issued in exchange for Solana (“SOL”) digital assets, bear contractual interest at rates ranging from 1% to 2%, ”)
  • Receivables -38.3% vs revenue +58.1% (-96.4 pts)
7 more checks with nothing to note
  • Inventory -76.9% vs revenue +58.1% (-135.0 pts)
  • Same auditor in both 10-Ks: GBQ Partners LLC
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

23 paragraphs in Risk Factors that were not in the 10-K filed Sep 24, 2025. Quoted as filed.

All 23 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
    Although we do not currently satisfy the stockholders' equity requirement of Rule 5550(b)(1), we believe we are in compliance with Nasdaq's continued listing requirements because we satisfy the alternative Market Value of Listed Securities Standard set forth in Rule 5550(b)(2), which requires a minimum market value of listed securities…
  2. Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
    Fluctuations in the price of Solana may significantly influence the market price of our common stock. To the extent investors view the value of our common stock as linked to the value or change in the value of our Solana treasury, fluctuations in the price of Solana may significantly influence the market price of our common stock.…
  3. Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
    Our Solana treasury strategy exposes us to various risks, including the following: Solana and other digital assets are subject to significant legal, commercial, regulatory, and technical uncertainty, and our Solana strategy subjects us to enhanced regulatory oversight; Regulatory changes could impact our ability to operate validators in…

New risk paragraphs, against peers

Latest 10-K of each, Crypto companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$36.4M$26.0M$15.8M$25.0M
Net income−$17.5M−$23.7M−$13.7M−$246.1M
Operating cash flow$203K−$101K−$8.4M−$21.0M
Free cash flow−$735K−$1.0M−$8.8M−$21.0M

Revenue, FY2020 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$25.0M ▲ 58.1% in FY2026

FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

1 filing in the last 30 days · SEC EDGAR

All filings

About the company

Upexi, Tampa, FL · from the 10-K filed Sep 17, 2026

We are in the cryptocurrency industry and the management of cash assets through a cryptocurrency portfolio, primarily focused in Solana tokens and generating a yield from the treasury, primarily through staking of those tokens. We continue to be brand owners, selling our products wholesale and direct to consumers. Distribution and fulfillment of our products is done by a third-party specializing in these services. Early in 2025, we updated and modified our cash management and treasury strategy to include holding digital currency assets directly on our balance sheet. This was a shift from before when we held excess cash primarily in FDIC-insured interest-bearing accounts.

Headquarters
Tampa, FL
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
June 30
Last results
Sep 17, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Sep 17, 2026 (open at SEC), compared with the 10-K filed Sep 24, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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