Axe Compute (AGPU) investor relations material

Executive summary

• Transitioned business model to focus on AI/GPU compute services and digital asset (ATH) treasury management, reducing legacy drug discovery operations and exploring strategic alternatives for the legacy business.

• Closed a landmark $260 million, 36-month contract for 2,304 NVIDIA B300s, with $21 million in quarterly revenue expected upon deployment in Q3 2026.

• Built a pipeline of over $4.3 billion in qualified deals, with most prospects seeking 36- to 60-month commitments.

• Leadership transition: new CEO, President, and CFO appointed during and after Q1 2026.

• Commenced Compute Services revenue in Q1 2026, marking transition from development to revenue-generating operations.

Financial highlights

• Q1 2026 net loss was $7.7 million, or $0.36 per share, including a $4.3 million non-cash loss from digital asset mark-to-market adjustments.

• Revenue for Q1 2026 was $35,311, down from $110,310 in Q1 2025, reflecting the wind-down of legacy business.

• Operating costs and expenses rose to $3.5 million, driven by one-time CEO severance and higher personnel costs.

• Cash and equivalents were $6.9 million at quarter-end, with $20.2 million in digital assets and $9.4 million in digital asset receivables, totaling $36.5 million in short-term liquidity.

• Working capital was $33.4 million at quarter-end.

Outlook and guidance

• Expectation of substantial revenue growth in Q2 and Q3 2026 as new compute contracts begin revenue recognition.

• Management confident in closing $1 billion in transactions in 2026, supported by robust pipeline.

• Liquidity is considered sufficient for at least the next twelve months, with access to ATM and SEPA equity facilities if needed.

• Plans to expand the sales team and use the $260 million contract as a template for additional enterprise deals.

• Intends to pursue ATH staking for treasury yield and complete the strategic review of the legacy business.