CEA Industries (BNC) Q4 2026 earnings summary

Executive summary

• Completed a strategic transformation to focus exclusively on managing a large BNB digital asset treasury.

• Accumulated 515,544 BNB tokens, valued at $317.3 million as of April 30, 2026.

• Generated $7.9 million in airdrop income and reported net income of $115.2 million for fiscal 2026.

• Undertook significant board and leadership changes, including appointing a new CFO and reconstituting board committees.

Financial highlights

• Net income reached $115.2 million, or $2.52 per diluted share, driven by a $282.9 million non-cash gain on warrant liabilities, offset by a $130.3 million unrealized loss on digital assets.

• Digital asset holdings at year-end were 515,544 BNB tokens, with a fair value of $319.6 million.

• Ended the year with $3.1 million in cash and cash equivalents.

• Entered a master loan facility post-year-end, drawing $10 million in USDC secured by $17 million in BNB collateral.

Outlook and guidance

• Plans to continue disciplined execution of its BNB treasury strategy and further BNB acquisitions.

• Will pursue opportunistic share repurchases and deepen its position as the largest corporate BNB treasury.