S.D. Standard ETC (SDSD) Q3 2025 earnings summary

Executive summary

• Achieved operating profit of USD 4.4 million in Q3 2025, reversing a loss of USD 202 thousand in Q3 2024; nine-month operating profit was USD 2.9 million versus a loss of USD 11.8 million year-over-year.

• Results reflect fair value gains on trading assets, offset by losses on certain investments and lower dividend income.

• Maintains a strong financial position with no debt and significant cash reserves.

Financial highlights

• Q3 2025 fair value loss on StandardCoin AS investment: USD 1.5 million; market value at quarter-end: USD 2.6 million.

• Q3 2025 fair value gain from other financial assets held for trading: USD 5.1 million; portfolio value: USD 53.5 million.

• Q3 2025 dividend income: USD 761 thousand (down from USD 9.7 million in Q3 2024); interest income: USD 654 thousand (down from USD 1.1 million).

• Profit per share: USD 0.01 for both Q3 and nine months ended 30 September 2025.

• Available cash as of 30 September 2025: USD 61.8 million.

Outlook and guidance

• Focus remains on generating medium to long-term capital growth, primarily in energy, transport, and commodities.

• Board believes the company is well positioned to capitalize on market opportunities.