Stratum Holdings (SRTM) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $15.1 million, down 26% year-over-year, mainly due to the sale of LR Kissimmee and a decrease in agent count.

• Gross margin improved to 11.5% in Q2 2026 from 9.2% in Q2 2025, driven by fee increases, cost reduction strategies, and divestitures.

• Net loss for Q2 2026 was $2.3 million, with a six-month net loss of $15.6 million, reflecting ongoing operating losses and significant non-cash charges.

• Operating expenses declined 21.2% in Q2 and 25% for the first half, reflecting cost controls and divestiture of non-core operations.

• The company is focused on integrating acquisitions, expanding its agent network, developing complementary services, and evaluating further strategic opportunities.

Financial highlights

• Q2 2026 revenue declined 26% year-over-year to $15.1 million; six-month revenue fell 18% to $28.6 million.

• Q2 gross profit was $1.7 million, down 6.5% year-over-year, but gross margin improved by 235 basis points.

• Operating loss for Q2 narrowed 32.2% to $1.7 million; net loss was $2.3 million for Q2 and $15.6 million for the first half.

• Operating expenses decreased 13% to $3.3 million in Q2, mainly from lower payroll and sales/marketing.

• Cash balance at June 30, 2026 was $2.3 million, with $10.3 million in restricted digital assets and working capital of $4.3 million.

Outlook and guidance

• Management expects continued operating losses and negative cash flows until higher revenue is achieved.

• Additional capital will be required to fund ongoing operations and service debt.

• The company is evaluating strategic opportunities, including acquisitions, partnerships, and divestitures to improve profitability.

• No assurance that any contemplated transactions will be completed or achieve anticipated benefits.