Streamex (STEX) Q1 2026 earnings summary

Executive summary

• Completed acquisition of Streamex Exchange, expanding into tokenized finance and digital asset infrastructure, while legacy medical device business remains operational.

• Raised over $40 million in equity capital during Q1 2026, fully deleveraging the balance sheet.

• Launched GLDY Token program, acquiring $15.2M in gold bullion; 98.5% of tokens held by the company as of March 31, 2026.

• Achieved a live product launch, established a proven infrastructure platform, and reported a growing business pipeline.

• Operated as a single reportable segment, with Streamex Exchange still in development and no material revenue generated.

Financial highlights

• No revenue recognized for Q1 2026; operating expenses rose to $35.7M, up from $3.0M year-over-year.

• Net loss attributable to common shareholders was $46.7M, compared to $2.8M in Q1 2025.

• Stock-based compensation and common stock issued for services totaled $25.4M, representing 74% of general and administrative expenses.

• Interest expense was $12.2M, mainly from non-cash accretion of debt discounts and issuance costs.

• Realized gain on sale of gold was $2.9M; gain on marketable securities was $0.5M.

Outlook and guidance

• Expect continued operating losses and negative cash flows until digital asset and medical device products achieve commercial success.

• Revenues from GLDY and Streamex Exchange platform remain uncertain; future growth depends on adoption, regulatory milestones, and market conditions.

• Management believes current liquidity is sufficient for at least one year.