Exhibit 99.1 Strive, Inc. Announces Third Quarter 2026 Financial Results DALLAS,
Exhibit 99.1 Strive, Inc. Announces Third Quarter 2026 Financial Results DALLAS, TX — (GLOBE NEWSWIRE) — November 6, 2026 - Strive, Inc. (Nasdaq: ASST; SATA; SATS) (“Strive” or the “Company”) today announced its financial results for the third quarter ended September 30, 2026 . Key Highlights: ▪ Acquired a total of 8,136 bitcoin during the third quarter ended September 30, 2026 and 20,373 bitcoin during the nine months ended September 30, 2026 . ▪ Acquired an additional 15,124 bitcoin during the period from October 1, 2026 through October 30, 2026 . ▪ Achieved the following Bitcoin accumulation results:
▪ As of October 30, 2026 , Strive's cash and cash equivalents totaled $490.4 million and our position in Variable Rate Series A Perpetual Preferred Stock of Strategy Inc. ("STRC Stock") had a fair value of $50.1 million . Strive had 118,117,620 and 9,213,489 shares of Class A common stock and Class B common stock, respectively, and 14,030,176 and 7,003,418 shares of Variable Rate Series A Perpetual Preferred Stock ("SATA Stock") and 15.00% Series A Perpetual SATS Preferred Stock (" SATS Stock"), respectively, outstanding as of October 30, 2026 . ▪ On October 20, 2026, completed a registered public offering of 7,000,000 shares of its SATS Stock, for net proceeds of approximately $609.0 million, after deducting the underwriting discounts and commissions. The SATS Stock is listed for trading on the Nasdaq Global Market under the symbol “SATS.” ▪ GAAP net income of $509.0 million for the three months ended September 30, 2026 . Net income per common share for the same period was $5.24 on a fully diluted basis. ▪ Non-GAAP adjusted net income attributable to common stockholders 1 of $494.6 million , or $5.46 per diluted common share 1 , for the three months ended September 30, 2026 . Non-GAAP adjusted net income attributable to common stockholders subtracts non-recurring and non-cash items from GAAP net loss attributable to common stockholders. ▪ As part of its overall investment strategy, the Company is evaluating various opportunities to leverage its balance sheet, including banking, brokerage, decentralized finance, reinsurance, structured ABS, and tokenization, among other opportunities, taking into account underwriting conditions, tax implications, regulatory considerations, alignment with its broader investment objectives, and other relevant factors. "Strive has continued to successfully execute on its treasury management strategy, delivering a strong bitcoin yield year to date in 2026, which I believe is the primary driver of our common equity's outperformance relative to Bitcoin so far this year," said Matthew Cole, Chairman & Chief Executive Officer of Strive, Inc. "With the recent issuance of SATS, we believe Strive has never been in a better position to generate long-term returns in excess of Bitcoin for our common equity shareholders."
(1)Non-GAAP adjusted net loss, non-GAAP adjusted net loss attributable to common stockholders, and non-GAAP adjusted net loss per dilutedcommon share are non-GAAP measures. See page5for reconciliations of these non-GAAP financial measures to the most comparable GAAP financialmeasures.
STRIVE, INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (in thousands, except share and per share data)
September 30,2026 December 31,2025 -unaudited -audited Assets: Current assets: Cash and cash equivalents $285,405 $67,499 Investments in preferred equity, at 50,172 — fair value Prepaid expenses 1,034 2,708 Other current assets 2,072 1,569 Total current assets 338,683 71,776 Digital assets, at fair value 2,340,192 668,486 Property and equipment, net 731 778 Intangible assets, net 321 355 Right-of-use lease assets 3,717 4,037 Other non-current assets 526 95 Total assets $2,684,170 $745,527 Liabilities: Current liabilities: Compensation and benefits payable $12,924 $164 Accounts payable and other 7,356 8,560 liabilities Dividends payable 14,022 2,053 Total current liabilities 34,302 10,777 Operating lease liabilities 3,218 3,512 Total liabilities 37,520 14,289 Mezzanine equity: Variable Rate Series A Preferred Stock,$0.001par value;40,000,000and20,000,000sharesa… 940,621and2,012,729shares issued and outstanding,$1.3 1,210,820 148,802 billionand$201.3millionliquidation preference as ofSeptember 30, 2026andDecember 31, 2025, respectively Total mezzanine equity 1,210,820 148,802 Stockholders’ equity: Class A common stock,$0.001par value;22,200,000,000shares authorized,88,814,706and34,936,745sh… issued 89 699 and outstanding as ofSeptember 30, 2026andDecember 31, 2025,respectively Class B common stock,$0.001par value;1,050,000,000shares authorized,9,198,036and9,776,540shar… issued and 9 196 outstanding as ofSeptember 30, 2026andDecember 31, 2025,respectively Additional paid-in capital 1,998,157 1,055,595 Accumulated deficit -562,425 -474,054 Total stockholders’ equity 1,435,830 582,436 Total liabilities, mezzanine equity, and $2,684,170 $745,527 stockholders' equity
STRIVE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share data) (unaudited)
Successor Predecessor Period Period From Three FromSeptember July1, 2025 MonthsEndedSepte… 12,2025 to toSeptember 30,2026 September30, 11,2025 2025 Revenues: Investment $1,559 $246 $1,283 advisory fees Medical device 1,133 — — revenues Other revenue 4 9 5 Total revenues 2,696 255 1,288 Operating expenses: Fund management and 1,583 282 1,251 administration Employee compensation and 15,633 18,720 3,151 benefits General and administrative 6,669 445 871 expense Impairment of medical device research 14,650 — — and development intangible asset Marketing and 86 18 68 advertising Depreciation and 78 12 43 amortization Total operating 38,699 19,477 5,384 expenses Investment gains (losses): Net unrealized gain (loss) on digital 533,697 -10,133 — assets, at fair value Net unrealized gain on investments in 8,833 — — preferred equity, at fair value Other investment 1,497 — — gain Other derivative — -14,731 — loss Total investment 544,027 -24,864 — gains (losses) Net operating 508,024 -44,086 -4,096 income (loss) Other income (expense): Other income 1,008 68 10 Goodwill and intangible asset — -140,785 — impairment Transaction — -7,484 -10,280 costs Total other 1,008 -148,201 -10,270 income (expense) Net income (loss) before 509,032 -192,287 -14,366 income taxes Income tax benefit — — — (expense) Net income $509,032 $(192,287) $(14,366) (loss) Dividends on -34,231 — — preferred stock Net income (loss) attributable to $474,801 $(192,287) $(14,366) common stockholders Weighted average number of common shares outstanding: Basic(1) 89,080,303 43,617,459 2,325,783 Diluted(1) 90,534,798 43,617,459 2,325,783 Net income (loss) per common share: Basic(1) $5.33 $(4.41) $(6.18) Diluted(1) $5.24 $(4.41) $(6.18)
(1) Basic and diluted earnings per common share for Class A and Class B common stock are the same.
STRIVE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share data)
Successor Predecessor Nine Period Period MonthsEndedSepte… FromSeptember FromJanuary 1, 30,2026 12,2025 to 2025 toSeptember September30, 2025 11,2025 -unaudited -unaudited -audited Revenues: Investment $4,418 $246 $4,187 advisory fees Medical device 3,891 — — revenues Other revenue 88 9 35 Total revenues 8,397 255 4,222 Operating expenses: Fund management and 4,496 282 4,250 administration Employee compensation and 45,000 18,720 7,222 benefits General and administrative 19,035 445 4,229 expense Impairment of medical device research 14,650 — — and development intangible asset Marketing and 281 18 231 advertising Depreciation and 254 12 149 amortization Total operating 83,716 19,477 16,081 expenses Investment gains (losses): Net unrealized gain (loss) on digital 9,888 -10,133 — assets, at fair value Net unrealized gain on investments in 3,361 — — preferred equity, at fair value Other investment -1,304 — — loss Other derivative — -14,731 — loss Total investment 11,945 -24,864 — gains (losses) Net operating -63,374 -44,086 -11,859 loss Other income (expense): Other income 2,489 68 586 Interest expense on long-term notes -282 — — payable, at fair value Change in fair value on long-term notes -2,464 — — payable, at fair value Loss on extinguishment -8,431 — — of debt Loss on change in fair value of bitcoin -2,594 — — held as collateral under Coinbase Loan Goodwill and intangible asset — -140,785 — impairment Transaction -6,525 -7,484 -15,717 costs Bargain purchase 66,704 — — gain Total other 48,897 -148,201 -15,131 income (expense) Net loss before -14,477 -192,287 -26,990 income taxes Income tax benefit — — — (expense) Net loss $(14,477) $(192,287) $(26,990) Dividends on -73,894 — — preferred stock Net loss attributable to $(88,371) $(192,287) $(26,990) common stockholders Weighted average number of common shares outstanding: Basic(1) 75,429,254 43,617,459 2,299,243 Diluted(1) 75,429,254 43,617,459 2,299,243 Net loss per common share: Basic(1) $(1.17) $(4.41) $(11.74) Diluted(1) $(1.17) $(4.41) $(11.74)
(1) Basic and diluted earnings per common share for Class A and Class B common stock are the same.
Non-GAAP Financial Measures This press release contains certain non-GAAP financial measures, consisting of non-GAAP adjusted net income (loss), non- GAAP adjusted net income (loss) attributable to common stockholders and non-GAAP adjusted net income (loss) attributable to common stockholders per diluted common share. Non-GAAP financial measures are subject to material limitations as they are not measurements prepared in accordance with GAAP and are not a substitute for such measurements. Our non-GAAP financial measures are not meant to be considered in isolation and should be read only in conjunction with our consolidated financial statements, which have been prepared in accordance with GAAP. We rely primarily on such consolidated financial statements to understand, manage, and evaluate our business performance and use the non-GAAP financial measures as supplemental information. Reconciliations of reported GAAP historic measures to adjusted non-GAAP measures are included in the financial schedules contained in this press release. Non-GAAP adjusted net income (loss) Non-GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to common stockholders, and the related non-GAAP adjusted net income (loss) per diluted common share excludes the impact of (i) share-based compensation expense, (ii) depreciation and amortization, (iii) change in fair value on long- term notes payable, at fair value, (iv) loss on extinguishment of debt, (v) loss on change in fair value of bitcoin held as collateral under Coinbase Loan, (vi) transaction costs, (vii) bargain purchase gain, (viii) other investment gain (loss), (ix) other derivative loss, (x) i mpairment of medical device research and development intangible asset , and (xi) goodwill and intangible asset impairment. We believe these measures offer management and investors insight as they exclude significant non-cash and/or non-recurring items. The following provides GAAP measures of net loss, net loss attributable to common stockholders, and net loss per diluted common share and the details with respect to reconciling the line items to non-GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to common stockholders, and non-GAAP adjusted net income (loss) per diluted common share (all amounts in thousands, other than share and per share information):
Successor Predecessor Period Period From Three FromSeptember July1, 2025 MonthsEndedSepte… 12,2025 toSeptember 30,2026 toSeptember 11,2025 30,2025 Net income $509,032 $(192,287) $(14,366) (loss) Share-based compensation 6,523 16,294 — expense Depreciation and 78 12 43 amortization Other investment -1,497 — — gain Other derivative — 14,731 — loss Impairment of medical device research 14,650 — — and development intangible asset Goodwill and intangible asset — 140,785 — impairment Transaction — 7,484 10,280 costs Non-GAAP adjusted net $528,786 $(12,981) $(4,043) income (loss) Dividends on -34,231 — — preferred stock Non-GAAP adjusted net income (loss) $494,555 $(12,981) $(4,043) attributable to common stockholders Weighted average number of diluted 90,534,798 43,617,459 2,325,783 common shares outstanding Net income (loss) per $5.24 $(4.41) $(6.18) diluted common share Non-GAAP adjusted net income (loss) $5.46 $(0.30) $(1.74) per diluted common share Successor Predecessor Period Period Nine FromSeptember FromJanuary 1, MonthsEndedSepte… 12,2025 2025to September 30,2026 toSeptember 11,2025 30,2025 Net loss $(14,477) $(192,287) $(26,990) Share-based compensation 18,736 16,294 — expense
Depreciation and amortization 254 12 149 Other investment loss 1,304 — — Other derivative loss — 14,731 — Change in fair value on long-term notes 2,464 — — payable, at fair value Loss on extinguishment of debt 8,431 — — Loss on change in fair value of bitcoin 2,594 — — held as collateral under Coinbase Loan Impairment of medical device research 14,650 — — and development intangible asset Goodwill and intangible asset — 140,785 — impairment Transaction costs 6,525 7,484 15,717 Bargain purchase gain -66,704 — — Non-GAAP adjusted net loss $(26,223) $(12,981) $(11,124) Dividends on preferred stock -73,894 — — Non-GAAP adjusted net loss attributable $(100,117) $(12,981) $(11,124) to common stockholders Weighted average number of diluted 75,429,254 43,617,459 2,299,243 common shares outstanding Net loss per diluted common share $(1.17) $(4.41) $(11.74) Non-GAAP adjusted net loss per diluted $(1.33) $(0.30) $(4.84) common share
Important Information About Other Metrics Bitcoin Yield is a metric that represents the percentage change in bitcoin per share from the beginning of a period to the end of a period. Bitcoin Gain per ADSO is a metric that represents, in SATs, the increase in the number of bitcoin held per assumed fully diluted share outstanding over the representative period. The metric is calculated multiplying the number of SATs at the beginning of the period by the Bitcoin Yield for such period, which is then divided by the number of assumed fully diluted shares outstanding at the beginning of such period. Bitcoin $ Gain per ADSO is a metric that represents the dollar value of the Bitcoin Gain per ADSO calculated by multiplying the Bitcoin Gain per ADSO by the market price of bitcoin at the end of the period. For determining Bitcoin $ Gain per ADSO, unless otherwise specified, the Company uses the current market price of bitcoin. For determining Bitcoin $ Gain for a past fiscal year or other past period, the Company uses the market price of bitcoin as of 4:00pm ET as reported on the Coinbase exchange on the last day of the applicable period. The Company uses these market prices of bitcoin for this calculation solely for the purpose of facilitating this illustrative calculation. The Company uses Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO as metrics to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to stockholders. The Company believes these metrics can supplement investors’ understanding of how the Company chooses to fund bitcoin purchases and the value created in a period by: • in the case of Bitcoin Yield, measuring the percentage change in bitcoin per share from the beginning of a period to the end of a period, which helps investors assess how the Company’s achievement of its strategy of acquiring bitcoin in an accretive manner varies across periods; • in the case of Bitcoin Gain per ADSO, hypothetically expressing the percentage change reflected in the Bitcoin Yield metric as if it reflected an increase in the amount of bitcoin held for each assumed diluted common share at the end of the applicable period as compared to the beginning of such period, which provides investors with visibility into the absolute change in the Company’s bitcoin holdings per common shareholder resulting from its Bitcoin Yield; and • in the case of Bitcoin $ Gain, further expressing that change as an illustrative dollar value by multiplying that bitcoin- denominated change by the market price of bitcoin at the end of the applicable period as described above. When the Company uses these metrics, management takes into account the various limitations of these metrics, including that they do not take into account that our assets, including our bitcoin, are subject to (i) all of our existing and future liabilities, including our debt, and (ii) the preferential rights of our preferred stockholders to dividends and our assets in a liquidation, and that all such claims rank senior to those of our common equity; and Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are not, and should not be understood as, financial performance, valuation or liquidity measures. Specifically:
7 • Bitcoin Yield is not equivalent to “yield” in the traditional financial context. It is not a measure of the return on investment the Company’s stockholders may have achieved historically or can achieve in the future by purchasing stock of the Company, or a measure of income generated by the Company’s operations or its bitcoin holdings, return on investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets. • Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are not equivalent to “gain” in the traditional financial context. They also are not measures of the return on investment the Company’s stockholders may have achieved historically or can achieve in the future by purchasing stock of the Company, or measures of income generated by the Company’s operations or its bitcoin holdings, return on investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets. It should also be understood that Bitcoin $ Gain does not represent a fair value gain of the Company’s bitcoin holdings, and Bitcoin $ Gain may be positive during periods when the Company has incurred fair value losses on its bitcoin holdings. The trading price of the Company’s Class A common stock is informed by numerous factors in addition to Company’s bitcoin holdings and its actual or potential shares of Class A common stock outstanding, and as a result, the trading price of the Company’s securities can deviate significantly from the market value of the Company’s bitcoin, and none of Bitcoin Yield, Bitcoin Gain per ADSO or Bitcoin $ Gain per ADSO are indicative or predictive of the trading price of the Company’s securities. Investors should rely on the financial statements and other disclosures contained in the Company’s SEC filings. In particular, the Company has adopted Accounting Standards Update No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”), which requires that the Company measure its bitcoin at fair value in its statement of financial position as of the end of a reported period, and recognize gains losses from changes in the fair value in net income (loss) for the reported period. As a result, we may incur unrealized gain or loss on digital assets based on changes in the market price of bitcoin during a period, which would not be reflected in Bitcoin Yield, Bitcoin Gain per ADSO or Bitcoin $ Gain per ADSO. As noted above, these metrics are narrow in their purpose and are used by management to assist it in assessing whether the Company is raising and deploying capital in a manner accretive to stockholders solely as it pertains to its bitcoin holdings. In calculating these metrics, the Company does not consider the source of capital used for the acquisition of its bitcoin. When the Company purchases bitcoin using proceeds from offerings of redeemable preferred stock, such transactions have the effect of increasing the Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO, while also increasing the Company’s senior claims of holders of instruments other than Class A common stock with respect to dividends and to the Company’s assets, including its bitcoin, in a manner that is not reflected in these metrics. In addition, we are required to pay dividends with respect to our perpetual preferred stock in perpetuity. The Company has historically not paid any dividends on its shares of Class A common stock, and by presenting these metrics the Company makes no suggestion that it intends to do so in the future. Ownership of the Company’s securities, including its Class A common stock and preferred stock, does not represent an ownership interest in, or a redemption right with respect to, the bitcoin the Company holds. The Company’s ability to achieve positive Bitcoin Yield, Bitcoin Gain per ADSO, or Bitcoin $ Gain per ADSO may depend on a variety of factors, including factors outside of its control, such as the price of bitcoin, and the availability of debt and equity financing on favorable terms. Past performance is not indicative of future results. These metrics are merely supplements, not substitutes to the financial statements and other disclosures contained in the Company’s SEC filings. They should be used only by sophisticated investors who understand their limited purpose and many limitations. About Strive Strive is a structured finance company and institutional asset manager focused on disciplined capital allocation and long-term value creation. We have strategically adopted bitcoin as our hurdle rate for capital deployment because of our fiduciary duty to maximize long-term value for stockholders and compound purchasing power over time. Strive Asset Management, LLC, a direct, wholly owned subsidiary of Strive and an SEC-registered investment adviser, manages over $2.9 billion in assets. Learn more at strive.com. Cautionary Statement Regarding Forward-Looking Statements Certain statements herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, express or implied statements regarding the outlook and expectations of Strive and its subsidiaries, 8 the strategic benefits and financial benefits of the merger transaction with Semler Scientific, Inc. (the "merger transaction"), including the expected impact of the merger transaction on Strive’s future financial performance and the ability to successfully integrate the combined businesses, and Strive’s intentions with respect to adjusting the SATA Stock monthly regular dividend rate per annum. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project,” “predict,” “potential,” “assume,” “forecast,” “target,” “budget,” “outlook,” “trend,” “guidance,” “objective,” “goal,” “strategy,” “opportunity,” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgments of Strive and its respective management team about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements as a result of various important factors. Other risks, uncertainties and assumptions, including, among others, the following: • the outcome of any legal proceedings that may be instituted against Strive or its subsidiaries; • the possibility that the anticipated benefits of the merger transaction are not realized when expected or at all, including as a result of changes in, or problems arising from, implementation of Bitcoin treasury strategies and risks associated with Bitcoin and other digital assets, general economic and market conditions, interest and exchange rates, monetary policy, and laws and regulations and their enforcement; • the diversion of management’s attention from ongoing business operations and opportunities; • dilution caused by Strive’s issuance of additional shares of its Class A common stock, SATA Stock, or SATS Stock; • potential adverse reactions of Strive’s clients and customers or changes to business or employee relationships, including those resulting from the completion of the merger transaction; • other factors that may affect future results of Strive or the future trading performance of its Class A common stock, SATA Stock, or SATS Stock. These factors are not necessarily all of the factors that could cause Strive’s actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm Strive’s results. Although Strive believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that the actual results of Strive will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in Strive’s Annual Report on Form 10-K, for the fiscal year ended December 31, 2025 and other documents subsequently filed by Strive with the SEC. The actual results anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on Strive or its businesses or operations. Investors are cautioned not to rely too heavily on any such forward- looking statements. Forward-looking statements contained herein speak only as of the date hereof, and Strive undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Strive Media Contact : media@strive.com Investor Contact : ir@strive.com Source: Strive, Inc.
Full text with the tables
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Exhibit 99.1 Strive, Inc. Announces Third Quarter 2026 Financial Results DALLAS,
TX — (GLOBE NEWSWIRE) — November 6, 2026 - Strive, Inc. (Nasdaq: ASST; SATA;
SATS) (“Strive” or the “Company”) today announced its financial results for the
third quarter ended September 30, 2026 . Key Highlights: ▪ Acquired a total of
8,136 bitcoin during the third quarter ended September 30, 2026 and 20,373
bitcoin during the nine months ended September 30, 2026 . ▪ Acquired an
additional 15,124 bitcoin during the period from October 1, 2026 through October
30, 2026 . ▪ Achieved the following Bitcoin accumulation results:
QTD Q3 2026:
BTC Yield % 18.5%
BTC Gain per ADSO 4,336.11
BTC $ Gain per ADSO $3.62
YTD Q3 2026:
BTC Yield % 63.2%
BTC Gain per ADSO 10,764.11
BTC $ Gain per ADSO $9.00
October 1, 2026throughOctober 30, 2026:
BTC Yield % 19.3%
BTC Gain per ADSO 5,359.93
BTC $ Gain per ADSO $4.11
▪ As of October 30, 2026 , Strive's cash and cash equivalents totaled $490.4
million and our position in Variable Rate Series A Perpetual Preferred Stock of
Strategy Inc. ("STRC Stock") had a fair value of $50.1 million . Strive had
118,117,620 and 9,213,489 shares of Class A common stock and Class B common
stock, respectively, and 14,030,176 and 7,003,418 shares of Variable Rate Series
A Perpetual Preferred Stock ("SATA Stock") and 15.00% Series A Perpetual SATS
Preferred Stock (" SATS Stock"), respectively, outstanding as of October 30,
2026 . ▪ On October 20, 2026, completed a registered public offering of
7,000,000 shares of its SATS Stock, for net proceeds of approximately $609.0
million, after deducting the underwriting discounts and commissions. The SATS
Stock is listed for trading on the Nasdaq Global Market under the symbol “SATS.”
▪ GAAP net income of $509.0 million for the three months ended September 30,
2026 . Net income per common share for the same period was $5.24 on a fully
diluted basis. ▪ Non-GAAP adjusted net income attributable to common
stockholders 1 of $494.6 million , or $5.46 per diluted common share 1 , for the
three months ended September 30, 2026 . Non-GAAP adjusted net income
attributable to common stockholders subtracts non-recurring and non-cash items
from GAAP net loss attributable to common stockholders. ▪ As part of its overall
investment strategy, the Company is evaluating various opportunities to leverage
its balance sheet, including banking, brokerage, decentralized finance,
reinsurance, structured ABS, and tokenization, among other opportunities, taking
into account underwriting conditions, tax implications, regulatory
considerations, alignment with its broader investment objectives, and other
relevant factors. "Strive has continued to successfully execute on its treasury
management strategy, delivering a strong bitcoin yield year to date in 2026,
which I believe is the primary driver of our common equity's outperformance
relative to Bitcoin so far this year," said Matthew Cole, Chairman & Chief
Executive Officer of Strive, Inc. "With the recent issuance of SATS, we believe
Strive has never been in a better position to generate long-term returns in
excess of Bitcoin for our common equity shareholders."
(1)Non-GAAP adjusted net loss, non-GAAP adjusted
net loss attributable to common stockholders, and
non-GAAP adjusted net loss per dilutedcommon share
are non-GAAP measures. See page5for
reconciliations of these non-GAAP financial
measures to the most comparable GAAP
financialmeasures.
2
STRIVE, INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (in thousands,
except share and per share data)
September 30,2026 December 31,2025
-unaudited -audited
Assets:
Current assets:
Cash and cash equivalents $285,405 $67,499
Investments in preferred equity, at 50,172 —
fair value
Prepaid expenses 1,034 2,708
Other current assets 2,072 1,569
Total current assets 338,683 71,776
Digital assets, at fair value 2,340,192 668,486
Property and equipment, net 731 778
Intangible assets, net 321 355
Right-of-use lease assets 3,717 4,037
Other non-current assets 526 95
Total assets $2,684,170 $745,527
Liabilities:
Current liabilities:
Compensation and benefits payable $12,924 $164
Accounts payable and other 7,356 8,560
liabilities
Dividends payable 14,022 2,053
Total current liabilities 34,302 10,777
Operating lease liabilities 3,218 3,512
Total liabilities 37,520 14,289
Mezzanine equity:
Variable Rate Series A Preferred
Stock,$0.001par
value;40,000,000and20,000,000sharesa…
940,621and2,012,729shares issued and
outstanding,$1.3 1,210,820 148,802
billionand$201.3millionliquidation
preference as
ofSeptember 30, 2026andDecember 31,
2025,
respectively
Total mezzanine equity 1,210,820 148,802
Stockholders’ equity:
Class A common stock,$0.001par
value;22,200,000,000shares
authorized,88,814,706and34,936,745sh…
issued 89 699
and outstanding as ofSeptember 30,
2026andDecember
31, 2025,respectively
Class B common stock,$0.001par
value;1,050,000,000shares
authorized,9,198,036and9,776,540shar…
issued and 9 196
outstanding as ofSeptember 30,
2026andDecember 31,
2025,respectively
Additional paid-in capital 1,998,157 1,055,595
Accumulated deficit -562,425 -474,054
Total stockholders’ equity 1,435,830 582,436
Total liabilities, mezzanine equity,
and $2,684,170 $745,527
stockholders' equity
3
STRIVE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share
and per share data) (unaudited)
Successor Predecessor
Period Period From
Three FromSeptember July1, 2025
MonthsEndedSepte… 12,2025 to toSeptember
30,2026 September30, 11,2025
2025
Revenues:
Investment $1,559 $246 $1,283
advisory fees
Medical device 1,133 — —
revenues
Other revenue 4 9 5
Total revenues 2,696 255 1,288
Operating
expenses:
Fund management
and 1,583 282 1,251
administration
Employee
compensation and 15,633 18,720 3,151
benefits
General and
administrative 6,669 445 871
expense
Impairment of
medical device
research 14,650 — —
and development
intangible asset
Marketing and 86 18 68
advertising
Depreciation and 78 12 43
amortization
Total operating 38,699 19,477 5,384
expenses
Investment gains
(losses):
Net unrealized
gain (loss) on
digital 533,697 -10,133 —
assets, at fair
value
Net unrealized
gain on
investments in 8,833 — —
preferred
equity, at fair
value
Other investment 1,497 — —
gain
Other derivative — -14,731 —
loss
Total investment 544,027 -24,864 —
gains (losses)
Net operating 508,024 -44,086 -4,096
income (loss)
Other income
(expense):
Other income 1,008 68 10
Goodwill and
intangible asset — -140,785 —
impairment
Transaction — -7,484 -10,280
costs
Total other 1,008 -148,201 -10,270
income (expense)
Net income
(loss) before 509,032 -192,287 -14,366
income taxes
Income tax
benefit — — —
(expense)
Net income $509,032 $(192,287) $(14,366)
(loss)
Dividends on -34,231 — —
preferred stock
Net income
(loss)
attributable to $474,801 $(192,287) $(14,366)
common
stockholders
Weighted average
number of common
shares
outstanding:
Basic(1) 89,080,303 43,617,459 2,325,783
Diluted(1) 90,534,798 43,617,459 2,325,783
Net income
(loss) per
common share:
Basic(1) $5.33 $(4.41) $(6.18)
Diluted(1) $5.24 $(4.41) $(6.18)
(1) Basic and diluted earnings per common share for Class A and Class B common
stock are the same.
4
STRIVE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share
and per share data)
Successor Predecessor
Nine Period Period
MonthsEndedSepte… FromSeptember FromJanuary 1,
30,2026 12,2025 to 2025 toSeptember
September30, 2025 11,2025
-unaudited -unaudited -audited
Revenues:
Investment $4,418 $246 $4,187
advisory fees
Medical device 3,891 — —
revenues
Other revenue 88 9 35
Total revenues 8,397 255 4,222
Operating
expenses:
Fund management
and 4,496 282 4,250
administration
Employee
compensation and 45,000 18,720 7,222
benefits
General and
administrative 19,035 445 4,229
expense
Impairment of
medical device
research 14,650 — —
and development
intangible asset
Marketing and 281 18 231
advertising
Depreciation and 254 12 149
amortization
Total operating 83,716 19,477 16,081
expenses
Investment gains
(losses):
Net unrealized
gain (loss) on
digital 9,888 -10,133 —
assets, at fair
value
Net unrealized
gain on
investments in 3,361 — —
preferred
equity, at fair
value
Other investment -1,304 — —
loss
Other derivative — -14,731 —
loss
Total investment 11,945 -24,864 —
gains (losses)
Net operating -63,374 -44,086 -11,859
loss
Other income
(expense):
Other income 2,489 68 586
Interest expense
on long-term
notes -282 — —
payable, at fair
value
Change in fair
value on
long-term notes -2,464 — —
payable, at fair
value
Loss on
extinguishment -8,431 — —
of debt
Loss on change
in fair value of
bitcoin -2,594 — —
held as
collateral under
Coinbase Loan
Goodwill and
intangible asset — -140,785 —
impairment
Transaction -6,525 -7,484 -15,717
costs
Bargain purchase 66,704 — —
gain
Total other 48,897 -148,201 -15,131
income (expense)
Net loss before -14,477 -192,287 -26,990
income taxes
Income tax
benefit — — —
(expense)
Net loss $(14,477) $(192,287) $(26,990)
Dividends on -73,894 — —
preferred stock
Net loss
attributable to $(88,371) $(192,287) $(26,990)
common
stockholders
Weighted average
number of common
shares
outstanding:
Basic(1) 75,429,254 43,617,459 2,299,243
Diluted(1) 75,429,254 43,617,459 2,299,243
Net loss per
common share:
Basic(1) $(1.17) $(4.41) $(11.74)
Diluted(1) $(1.17) $(4.41) $(11.74)
(1) Basic and diluted earnings per common share for Class A and Class B common
stock are the same.
5
Non-GAAP Financial Measures This press release contains certain non-GAAP
financial measures, consisting of non-GAAP adjusted net income (loss), non- GAAP
adjusted net income (loss) attributable to common stockholders and non-GAAP
adjusted net income (loss) attributable to common stockholders per diluted
common share. Non-GAAP financial measures are subject to material limitations as
they are not measurements prepared in accordance with GAAP and are not a
substitute for such measurements. Our non-GAAP financial measures are not meant
to be considered in isolation and should be read only in conjunction with our
consolidated financial statements, which have been prepared in accordance with
GAAP. We rely primarily on such consolidated financial statements to understand,
manage, and evaluate our business performance and use the non-GAAP financial
measures as supplemental information. Reconciliations of reported GAAP historic
measures to adjusted non-GAAP measures are included in the financial schedules
contained in this press release. Non-GAAP adjusted net income (loss) Non-GAAP
adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to
common stockholders, and the related non-GAAP adjusted net income (loss) per
diluted common share excludes the impact of (i) share-based compensation
expense, (ii) depreciation and amortization, (iii) change in fair value on long-
term notes payable, at fair value, (iv) loss on extinguishment of debt, (v) loss
on change in fair value of bitcoin held as collateral under Coinbase Loan, (vi)
transaction costs, (vii) bargain purchase gain, (viii) other investment gain
(loss), (ix) other derivative loss, (x) i mpairment of medical device research
and development intangible asset , and (xi) goodwill and intangible asset
impairment. We believe these measures offer management and investors insight as
they exclude significant non-cash and/or non-recurring items. The following
provides GAAP measures of net loss, net loss attributable to common
stockholders, and net loss per diluted common share and the details with respect
to reconciling the line items to non-GAAP adjusted net income (loss), non-GAAP
adjusted net income (loss) attributable to common stockholders, and non-GAAP
adjusted net income (loss) per diluted common share (all amounts in thousands,
other than share and per share information):
Successor Predecessor
Period Period From
Three FromSeptember July1, 2025
MonthsEndedSepte… 12,2025 toSeptember
30,2026 toSeptember 11,2025
30,2025
Net income $509,032 $(192,287) $(14,366)
(loss)
Share-based
compensation 6,523 16,294 —
expense
Depreciation and 78 12 43
amortization
Other investment -1,497 — —
gain
Other derivative — 14,731 —
loss
Impairment of
medical device
research 14,650 — —
and development
intangible asset
Goodwill and
intangible asset — 140,785 —
impairment
Transaction — 7,484 10,280
costs
Non-GAAP
adjusted net $528,786 $(12,981) $(4,043)
income (loss)
Dividends on -34,231 — —
preferred stock
Non-GAAP
adjusted net
income (loss) $494,555 $(12,981) $(4,043)
attributable to
common
stockholders
Weighted average
number of
diluted 90,534,798 43,617,459 2,325,783
common shares
outstanding
Net income
(loss) per $5.24 $(4.41) $(6.18)
diluted common
share
Non-GAAP
adjusted net
income (loss) $5.46 $(0.30) $(1.74)
per
diluted common
share
Successor Predecessor
Period Period
Nine FromSeptember FromJanuary 1,
MonthsEndedSepte… 12,2025 2025to September
30,2026 toSeptember 11,2025
30,2025
Net loss $(14,477) $(192,287) $(26,990)
Share-based
compensation 18,736 16,294 —
expense
6
Depreciation and amortization 254 12 149
Other investment loss 1,304 — —
Other derivative loss — 14,731 —
Change in fair value on long-term
notes 2,464 — —
payable, at fair value
Loss on extinguishment of debt 8,431 — —
Loss on change in fair value of
bitcoin 2,594 — —
held as collateral under Coinbase
Loan
Impairment of medical device research 14,650 — —
and development intangible asset
Goodwill and intangible asset — 140,785 —
impairment
Transaction costs 6,525 7,484 15,717
Bargain purchase gain -66,704 — —
Non-GAAP adjusted net loss $(26,223) $(12,981) $(11,124)
Dividends on preferred stock -73,894 — —
Non-GAAP adjusted net loss
attributable $(100,117) $(12,981) $(11,124)
to common stockholders
Weighted average number of diluted 75,429,254 43,617,459 2,299,243
common shares outstanding
Net loss per diluted common share $(1.17) $(4.41) $(11.74)
Non-GAAP adjusted net loss per
diluted $(1.33) $(0.30) $(4.84)
common share
Important Information About Other Metrics Bitcoin Yield is a metric that
represents the percentage change in bitcoin per share from the beginning of a
period to the end of a period. Bitcoin Gain per ADSO is a metric that
represents, in SATs, the increase in the number of bitcoin held per assumed
fully diluted share outstanding over the representative period. The metric is
calculated multiplying the number of SATs at the beginning of the period by the
Bitcoin Yield for such period, which is then divided by the number of assumed
fully diluted shares outstanding at the beginning of such period. Bitcoin $ Gain
per ADSO is a metric that represents the dollar value of the Bitcoin Gain per
ADSO calculated by multiplying the Bitcoin Gain per ADSO by the market price of
bitcoin at the end of the period. For determining Bitcoin $ Gain per ADSO,
unless otherwise specified, the Company uses the current market price of
bitcoin. For determining Bitcoin $ Gain for a past fiscal year or other past
period, the Company uses the market price of bitcoin as of 4:00pm ET as reported
on the Coinbase exchange on the last day of the applicable period. The Company
uses these market prices of bitcoin for this calculation solely for the purpose
of facilitating this illustrative calculation. The Company uses Bitcoin Yield,
Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO as metrics to help assess the
performance of its strategy of acquiring bitcoin in a manner the Company
believes is accretive to stockholders. The Company believes these metrics can
supplement investors’ understanding of how the Company chooses to fund bitcoin
purchases and the value created in a period by: • in the case of Bitcoin Yield,
measuring the percentage change in bitcoin per share from the beginning of a
period to the end of a period, which helps investors assess how the Company’s
achievement of its strategy of acquiring bitcoin in an accretive manner varies
across periods; • in the case of Bitcoin Gain per ADSO, hypothetically
expressing the percentage change reflected in the Bitcoin Yield metric as if it
reflected an increase in the amount of bitcoin held for each assumed diluted
common share at the end of the applicable period as compared to the beginning of
such period, which provides investors with visibility into the absolute change
in the Company’s bitcoin holdings per common shareholder resulting from its
Bitcoin Yield; and • in the case of Bitcoin $ Gain, further expressing that
change as an illustrative dollar value by multiplying that bitcoin- denominated
change by the market price of bitcoin at the end of the applicable period as
described above. When the Company uses these metrics, management takes into
account the various limitations of these metrics, including that they do not
take into account that our assets, including our bitcoin, are subject to (i) all
of our existing and future liabilities, including our debt, and (ii) the
preferential rights of our preferred stockholders to dividends and our assets in
a liquidation, and that all such claims rank senior to those of our common
equity; and Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are
not, and should not be understood as, financial performance, valuation or
liquidity measures. Specifically:
7 • Bitcoin Yield is not equivalent to “yield” in the traditional financial
context. It is not a measure of the return on investment the Company’s
stockholders may have achieved historically or can achieve in the future by
purchasing stock of the Company, or a measure of income generated by the
Company’s operations or its bitcoin holdings, return on investment on its
bitcoin holdings, or any other similar financial measure of the performance of
its business or assets. • Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are
not equivalent to “gain” in the traditional financial context. They also are not
measures of the return on investment the Company’s stockholders may have
achieved historically or can achieve in the future by purchasing stock of the
Company, or measures of income generated by the Company’s operations or its
bitcoin holdings, return on investment on its bitcoin holdings, or any other
similar financial measure of the performance of its business or assets. It
should also be understood that Bitcoin $ Gain does not represent a fair value
gain of the Company’s bitcoin holdings, and Bitcoin $ Gain may be positive
during periods when the Company has incurred fair value losses on its bitcoin
holdings. The trading price of the Company’s Class A common stock is informed by
numerous factors in addition to Company’s bitcoin holdings and its actual or
potential shares of Class A common stock outstanding, and as a result, the
trading price of the Company’s securities can deviate significantly from the
market value of the Company’s bitcoin, and none of Bitcoin Yield, Bitcoin Gain
per ADSO or Bitcoin $ Gain per ADSO are indicative or predictive of the trading
price of the Company’s securities. Investors should rely on the financial
statements and other disclosures contained in the Company’s SEC filings. In
particular, the Company has adopted Accounting Standards Update No. 2023-08,
Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for
and Disclosure of Crypto Assets (“ASU 2023-08”), which requires that the Company
measure its bitcoin at fair value in its statement of financial position as of
the end of a reported period, and recognize gains losses from changes in the
fair value in net income (loss) for the reported period. As a result, we may
incur unrealized gain or loss on digital assets based on changes in the market
price of bitcoin during a period, which would not be reflected in Bitcoin Yield,
Bitcoin Gain per ADSO or Bitcoin $ Gain per ADSO. As noted above, these metrics
are narrow in their purpose and are used by management to assist it in assessing
whether the Company is raising and deploying capital in a manner accretive to
stockholders solely as it pertains to its bitcoin holdings. In calculating these
metrics, the Company does not consider the source of capital used for the
acquisition of its bitcoin. When the Company purchases bitcoin using proceeds
from offerings of redeemable preferred stock, such transactions have the effect
of increasing the Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per
ADSO, while also increasing the Company’s senior claims of holders of
instruments other than Class A common stock with respect to dividends and to the
Company’s assets, including its bitcoin, in a manner that is not reflected in
these metrics. In addition, we are required to pay dividends with respect to our
perpetual preferred stock in perpetuity. The Company has historically not paid
any dividends on its shares of Class A common stock, and by presenting these
metrics the Company makes no suggestion that it intends to do so in the future.
Ownership of the Company’s securities, including its Class A common stock and
preferred stock, does not represent an ownership interest in, or a redemption
right with respect to, the bitcoin the Company holds. The Company’s ability to
achieve positive Bitcoin Yield, Bitcoin Gain per ADSO, or Bitcoin $ Gain per
ADSO may depend on a variety of factors, including factors outside of its
control, such as the price of bitcoin, and the availability of debt and equity
financing on favorable terms. Past performance is not indicative of future
results. These metrics are merely supplements, not substitutes to the financial
statements and other disclosures contained in the Company’s SEC filings. They
should be used only by sophisticated investors who understand their limited
purpose and many limitations. About Strive Strive is a structured finance
company and institutional asset manager focused on disciplined capital
allocation and long-term value creation. We have strategically adopted bitcoin
as our hurdle rate for capital deployment because of our fiduciary duty to
maximize long-term value for stockholders and compound purchasing power over
time. Strive Asset Management, LLC, a direct, wholly owned subsidiary of Strive
and an SEC-registered investment adviser, manages over $2.9 billion in assets.
Learn more at strive.com. Cautionary Statement Regarding Forward-Looking
Statements Certain statements herein may constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended (the “Securities Act”),
and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and Rule 3b-6 promulgated
thereunder, which statements involve inherent risks and uncertainties. Examples
of forward-looking statements include, but are not limited to, express or
implied statements regarding the outlook and expectations of Strive and its
subsidiaries, 8 the strategic benefits and financial benefits of the merger
transaction with Semler Scientific, Inc. (the "merger transaction"), including
the expected impact of the merger transaction on Strive’s future financial
performance and the ability to successfully integrate the combined businesses,
and Strive’s intentions with respect to adjusting the SATA Stock monthly regular
dividend rate per annum. Such statements are often characterized by the use of
qualified words (and their derivatives) such as “may,” “will,” “anticipate,”
“could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,”
“continue,” “plan,” “project,” “predict,” “potential,” “assume,” “forecast,”
“target,” “budget,” “outlook,” “trend,” “guidance,” “objective,” “goal,”
“strategy,” “opportunity,” and “intend,” as well as words of similar meaning or
other statements concerning opinions or judgments of Strive and its respective
management team about future events. Forward-looking statements are based on
assumptions as of the time they are made and are subject to risks, uncertainties
and other factors that are difficult to predict with regard to timing, extent,
likelihood and degree of occurrence, which could cause actual results to differ
materially from anticipated results expressed or implied by such forward-looking
statements as a result of various important factors. Other risks, uncertainties
and assumptions, including, among others, the following: • the outcome of any
legal proceedings that may be instituted against Strive or its subsidiaries; •
the possibility that the anticipated benefits of the merger transaction are not
realized when expected or at all, including as a result of changes in, or
problems arising from, implementation of Bitcoin treasury strategies and risks
associated with Bitcoin and other digital assets, general economic and market
conditions, interest and exchange rates, monetary policy, and laws and
regulations and their enforcement; • the diversion of management’s attention
from ongoing business operations and opportunities; • dilution caused by
Strive’s issuance of additional shares of its Class A common stock, SATA Stock,
or SATS Stock; • potential adverse reactions of Strive’s clients and customers
or changes to business or employee relationships, including those resulting from
the completion of the merger transaction; • other factors that may affect future
results of Strive or the future trading performance of its Class A common stock,
SATA Stock, or SATS Stock. These factors are not necessarily all of the factors
that could cause Strive’s actual results, performance or achievements to differ
materially from those expressed in or implied by any of the forward-looking
statements. Other factors, including unknown or unpredictable factors, also
could harm Strive’s results. Although Strive believes that its expectations with
respect to forward-looking statements are based upon reasonable assumptions
within the bounds of its existing knowledge of its business and operations,
there can be no assurance that the actual results of Strive will not differ
materially from any projected future results expressed or implied by such
forward-looking statements. Additional factors that could cause results to
differ materially from those described above can be found in Strive’s Annual
Report on Form 10-K, for the fiscal year ended December 31, 2025 and other
documents subsequently filed by Strive with the SEC. The actual results
anticipated may not be realized or, even if substantially realized, they may not
have the expected consequences to or effects on Strive or its businesses or
operations. Investors are cautioned not to rely too heavily on any such forward-
looking statements. Forward-looking statements contained herein speak only as of
the date hereof, and Strive undertakes no obligation to update or clarify these
forward-looking statements, whether as a result of new information, future
events or otherwise, except to the extent required by applicable law. Strive
Media Contact : media@strive.com Investor Contact : ir@strive.com Source:
Strive, Inc.