SATO Technologies (SATO) Q1 2026 earnings summary

Executive summary

• Revenue declined 54% year-over-year to $1.35 million in Q1 2026, reflecting post-halving Bitcoin mining conditions and strategic down-clocking of mining fleet.

• Net loss widened to $1.27 million from $885,442 in Q1 2025, with gross loss of $565,446 versus prior year gross profit.

• Cash position improved to $973,871 at quarter-end, supported by a $1.375 million private placement.

• Advanced plans to repurpose part of Center One facility for high-density AI compute, responding to growing demand in Québec.

Financial highlights

• Revenue: $1,351,545, down from $2,959,874 in Q1 2025.

• 13 BTC mined, compared to 22 BTC in Q1 2025.

• Gross loss: $565,446 (Q1 2025: gross profit $298,397).

• Net loss: $1,267,311 (Q1 2025: $885,442).

• Adjusted EBITDA: $(578,301) (Q1 2025: $164,303).

Outlook and guidance

• Focus remains on executing the AI transition and securing necessary capital.

• Post-halving environment and high network hashrate expected to continue impacting mining profitability.