Upexi (UPXI)
NASDAQ:UPXI
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Upexi
(NASDAQ:UPXI)
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Rating:50Neutral
Price Target:
$1.50
▲(2.74% Upside)
Action:ReiteratedDate:04/19/26
The score is held down primarily by weak financial performance (large losses, cash burn, and high leverage). Offsetting this, technicals show a near-term uptrend with positive MACD, and the earnings call outlined actionable financing and yield plans, but these are counterbalanced by substantial mark-to-market losses and continued SOL-driven volatility; valuation support is limited due to negative earnings and no dividend.
Positive Factors
High gross margin & revenue growth
Sustained ~19.6% TTM revenue growth and ~78% gross margin indicate resilient unit economics and scalable product margins. These fundamentals support reinvestment in marketing and product development and provide a structural cushion to absorb higher operating expenses while pursuing growth.
Negative Factors
Deep operating losses and negative cash flow
Persistent, large operating and free cash flow deficits mean the core business is not funding growth. Continued cash burn increases reliance on external financing, heightens dilution risk, and constrains long-term investments, making sustainable profitability the critical structural hurdle to de-risk the model.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin & revenue growth
Sustained ~19.6% TTM revenue growth and ~78% gross margin indicate resilient unit economics and scalable product margins. These fundamentals support reinvestment in marketing and product development and provide a structural cushion to absorb higher operating expenses while pursuing growth.
Read all positive factors
Upexi (UPXI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$97.08M
Dividend YieldN/A
Average Volume (3M)5.12M
Price to Earnings (P/E)―
Beta (1Y)6.50
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees64
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-2.94
Shares Outstanding69,344,350
10 Day Avg. Volume3,204,228
30 Day Avg. Volume5,123,323
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.26
Price to Sales (P/S)1.49
P/FCF Ratio-2.68
Enterprise Value/Market Cap3.14
Enterprise Value/Revenue12.31
Enterprise Value/Gross Profit15.37
Enterprise Value/Ebitda6.04
Forecast
1Y Price Target
$2.00Price Target Upside36.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.94
Revenue Forecast (FY)$11.70M
Upexi Business Overview & Revenue Model
Company Description
Upexi, Inc. manufacture and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc. and changed its name to Upexi, Inc. in August 2022. Upexi, Inc. was incorporated in 2...
How the Company Makes Money
Upexi makes money primarily through the sale of branded consumer products. Its core revenue stream is product sales through direct-to-consumer websites and third-party e-commerce platforms (e.g., large online marketplaces), where it earns revenue ...
Upexi Key Performance Indicators (KPIs)
Upexi Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Negative
The call presented a mixed picture: important operational and strategic progress (accelerated revenue growth, token accumulation, accretive capital raises, S-3 shelf, repurchase program, high staking participation and encouraging ecosystem developments) counterbalanced by a severe short-term market-driven impact (large SOL price decline, substantial unrealized losses and a $178.9M net loss for the quarter), plus sector-wide multiple compression. Management emphasized mitigations — accretive capital issuance, increased cash to ~$9.7M, planned yield strategies and hedging options — but the magnitude of mark-to-market losses and NAV pressure are material near-term headwinds.Positive Updates
Strong Revenue Growth
Total revenue for Q2 was approximately $8.1M, up ~100% (+$4M) year-over-year from $4M. For the six months ended 12/31/2025, total revenue was $17.3M versus $8M in the prior period (more than double), driven by the addition of the digital asset treasury business.
Negative Updates
Large Unrealized Digital Asset Losses and Significant Net Loss
Net loss for the quarter was approximately $178.9M (≈$2.94 per share), primarily driven by $164.5M of unrealized fair-value losses on digital assets. For the six months ended 12/31/2025, the treasury recorded an unrealized loss on digital assets of ≈$86.4M (Solana price per token $124.48 at 12/31/2025).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue for Q2 was approximately $8.1M, up ~100% (+$4M) year-over-year from $4M. For the six months ended 12/31/2025, total revenue was $17.3M versus $8M in the prior period (more than double), driven by the addition of the digital asset treasury business.
Read all positive updates
Company Guidance
Management's guidance focused on three priorities — grow Solana per share via accretive capital raises, increase low‑risk recurring yield on the treasury, and use hedges/opportunistic trades to capitalize on volatility — with many concrete metrics: as of 12/31/2025 Upexi held ~2,170,000 SOL (1,320,000 liquid, 850,000 locked) and $1.6M cash (now strengthened to ~ $9.7M post‑raises), added ~106,000 SOL in the quarter, reported digital asset revenue of ~$11.2M for the six months (~65,700 tokens added), Q2 revenue of ~$8.1M (up ~100% vs $4.0M PYQ) and six‑month revenue of $17.3M vs $8.0M prior, direct treasury expenses of ~$6.0M for six months, but endured mark‑to‑market pain (SOL fell ~40% in‑quarter and a further ~31% post quarter‑end) resulting in unrealized losses of ~ $164.5M in the quarter (≈$86.4M for six months) and a Q2 net loss of ≈$178.9M (≈$2.94/sh); capital actions to support the plan included a $19M private placement, a subsequent $7M equity/warrant offering, a $36M in‑kind convertible note, S‑3 shelf effectiveness, and a $50M buyback program, while yield targets aim for low‑ to mid‑teens all‑in (e.g., locked SOL bought at ~15% discount plus ~7% staking translates to a low‑teens yield) with a planned Q2 launch of the targeted yield strategy.Upexi Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Sep 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.74M | 15.81M | 26.00M | 36.44M | 23.07M | 24.10M |
| Gross Profit | 19.80M | 10.87M | 12.82M | 21.02M | 14.87M | 11.90M |
| EBITDA | 50.44M | -12.12M | -9.72M | -5.05M | -3.76M | 2.46M |
| Net Income | -122.93M | -13.68M | -23.66M | -16.93M | -2.10M | 2.98M |
Balance Sheet | ||||||
| Total Assets | 271.14M | 123.81M | 23.51M | 63.80M | 48.49M | 27.25M |
| Cash, Cash Equivalents and Short-Term Investments | 1.62M | 2.98M | 661.41K | 4.49M | 7.15M | 14.53M |
| Total Debt | 212.46M | 27.78M | 13.45M | 26.34M | 15.45M | 864.06K |
| Total Liabilities | 222.43M | 33.71M | 17.00M | 35.96M | 19.70M | 6.04M |
| Stockholders Equity | 48.72M | 90.10M | 6.52M | 28.34M | 28.73M | 21.22M |
Cash Flow | ||||||
| Free Cash Flow | -17.75M | -8.81M | -1.03M | -734.89K | -5.63M | 1.52M |
| Operating Cash Flow | -17.53M | -8.42M | -101.38K | 202.68K | 521.87K | 2.94M |
| Investing Cash Flow | -141.96M | -99.29M | -3.38M | -2.57M | -11.61M | -1.28M |
| Financing Cash Flow | 160.70M | 110.03M | -353.79K | -285.33K | 3.70M | 11.99M |
Upexi Technical Analysis
Neutral
1.46
Price Trends
0.97
Positive
1.58
Negative
3.62
Negative
Market Momentum
0.06
Negative
69.01
Neutral
93.10
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UPXI, the sentiment is Neutral. The current price of 1.46 is above the 20-day moving average (MA) of 1.10, above the 50-day MA of 0.97, and below the 200-day MA of 3.62, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 69.01 is Neutral, neither overbought nor oversold. The STOCH value of 93.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for UPXI.
Upexi Risk Analysis
Upexi disclosed 6 risk factors in its most recent earnings report. Upexi reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Upexi Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $111.21M | -25.25 | -175.73% | ― | -39.89% | 95.87% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $285.47M | -9.78 | -4.72% | ― | -23.56% | -43.49% | |
58 Neutral | $104.73M | 1.52 | -314.78% | ― | 7.09% | ― | |
50 Neutral | $97.08M | -0.14 | -139.91% | ― | ― | ― | |
50 Neutral | $57.92M | -27.70 | -10.32% | ― | ― | ― | |
49 Neutral | $73.21M | -0.12 | -51.54% | ― | -26.41% | -4283.11% |
* Communication Services Sector Average
UPXI
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Upexi Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Upexi Establishes At-the-Market Equity Offering Program
Positive
Feb 4, 2026
On January 30, 2026, Upexi, Inc. entered into a Common Stock Sales Agreement with A.G.P./Alliance Global Partners to allow the company to sell shares of its common stock from time to time in an at-the-market offering under its effective shelf regi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.