Axe Compute (AGPU) Q4 2025 earnings summary

Executive summary

• Completed a strategic shift to AI compute infrastructure and rebranded as Axe Compute in December 2025, with new leadership and board members bringing deep semiconductor, technology, and telecom expertise.

• Raised $343.5 million in capital through PIPE transactions to fund a Strategic Compute Reserve based on the ATH token.

• Over $12 million in contracts signed in the last 30 days, with more than 20 enterprise customers and 30+ active deployments.

• Established access to a distributed GPU network with over 435,000 GPUs for enterprise AI workloads.

• Business model centers on providing rapid, flexible, and distributed GPU compute capacity, addressing market gaps in speed, choice, and data sovereignty.

Financial highlights

• Fiscal year 2025 revenue was $125,284, up from $85,000 in 2024, all from legacy drug discovery services; compute services revenue expected in 2026.

• Net loss for 2025 was $232.9 million, with $152.5 million in unrealized losses on digital assets and $52.7 million loss on derivatives.

• Cash and cash equivalents at year-end 2025 were $10.8 million, up from $0.6 million in 2024, driven by PIPE financing.

• Digital assets valued at $24.4 million (unlocked) and $15.5 million (locked) on the balance sheet.

• Stockholders' equity improved to $47.7 million from a deficit of $0.2 million, regaining Nasdaq compliance.

Outlook and guidance

• Compute services segment expected to generate meaningful revenue starting in fiscal year 2026.

• Entering Q2 2026 with an expected monthly contract value of $850,000, translating to $7.7 million in contracted 2026 income.

• 2026 priorities include generating initial compute services revenue, staking ATH tokens for yield, completing the strategic review of the legacy business, and expanding the ATH treasury position.

• Management believes liquidity is sufficient to fund operations through 2026 and beyond, but results are subject to ATH price volatility.

• Significant pipeline growth anticipated as AI adoption accelerates globally.