Upexi Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Upexi Inc has an operating margin of -79.1%, meaning the company retains $-79 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -86.4% the prior year.
Upexi Inc's revenue declined 39.2% year-over-year, from $26.0M to $15.8M. This contraction results in a growth score of 0/100.
Upexi Inc carries a low D/E ratio of 0.37, meaning only $0.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
Upexi Inc's current ratio of 1.74 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
While Upexi Inc generated -$8.4M in operating cash flow, capex of $388K consumed most of it, leaving -$8.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Upexi Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Upexi Inc generates $0.62 in operating cash flow (-$8.4M OCF vs -$13.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Upexi Inc earns $-120.4 in operating income for every $1 of interest expense (-$12.5M vs $104K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Upexi Inc (UPXI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Upexi Inc generated $15.8M in revenue in fiscal year 2025. This represents a decrease of 39.2% from the prior year.
Upexi Inc's EBITDA was -$11.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.5% from the prior year.
Upexi Inc generated -$8.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 752.2% from the prior year.
Upexi Inc reported -$13.7M in net income in fiscal year 2025. This represents an increase of 42.2% from the prior year.
Upexi Inc earned $-1.73 per diluted share (EPS) in fiscal year 2025. This represents an increase of 92.5% from the prior year.
Upexi Inc held $3.0M in cash against $0 in long-term debt as of fiscal year 2025.
Upexi Inc had 38M shares outstanding in fiscal year 2025. This represents an increase of 83.2% from the prior year.
Upexi Inc's gross margin was 68.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 19.4 percentage points from the prior year.
Upexi Inc's operating margin was -79.1% in fiscal year 2025, reflecting core business profitability. This is up 7.3 percentage points from the prior year.
Upexi Inc's net profit margin was -86.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.4 percentage points from the prior year.
Upexi Inc invested $388K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 58.4% from the prior year.
UPXI Income Statement
| Metric | Q2'26 | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.1M0.0% | $8.1M-12.9% | $9.2M+192.4% | $3.2M-21.1% | $4.0M-8.1% | $4.4M-16.6% | $5.2M-30.0% | $7.5M |
| Cost of Revenue | $1.3M0.0% | $1.3M+40.2% | $957K-40.3% | $1.6M+55.3% | $1.0M-27.7% | $1.4M-63.9% | $4.0M+36.6% | $2.9M |
| Gross Profit | $6.7M0.0% | $6.7M-19.0% | $8.3M+431.3% | $1.6M-47.6% | $3.0M+1.5% | $2.9M+131.1% | $1.3M-72.2% | $4.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $5.5M0.0% | $5.5M-40.3% | $9.3M+250.3% | $2.6M+70.6% | $1.5M+13.2% | $1.4M-23.6% | $1.8M+13.0% | $1.6M |
| Operating Income | $175.4M+200.0% | -$175.4M-353.6% | $69.2M+2027.8% | -$3.6M-234.3% | -$1.1M+19.6% | -$1.3M+73.5% | -$5.0M-93.7% | -$2.6M |
| Interest Expense | $18K0.0% | $18K-15.3% | $21K+108.6% | -$245K-539.4% | $56K+93.3% | $29K+103.9% | -$737K+28.7% | -$1.0M |
| Income Tax | N/A | $0 | $0 | $0 | $0 | $0-100.0% | $1.5M+116.1% | $695K |
| Net Income | $178.9M+200.0% | -$178.9M-368.1% | $66.7M+1842.0% | -$3.8M-194.4% | -$1.3M+19.9% | -$1.6M+60.5% | -$4.1M-68.9% | -$2.4M |
| EPS (Diluted) | $2.94+200.0% | $-2.94-486.8% | $0.76+126.5% | $-2.87 | $-1.24-180.0% | $1.55 | $-4.03-101.5% | $-2.00 |
UPXI Balance Sheet
| Metric | Q2'26 | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $271.1M0.0% | $271.1M-35.4% | $419.7M+2685.7% | $15.1M-14.0% | $17.5M-5.8% | $18.6M-67.1% | $56.5M-9.1% | $62.2M |
| Current Assets | $171.3M0.0% | $171.3M-22.3% | $220.3M+5452.7% | $4.0M-35.1% | $6.1M-10.0% | $6.8M-59.7% | $16.8M-25.4% | $22.6M |
| Cash & Equivalents | N/A | $1.6M-27.7% | $2.2M+871.1% | $230K-43.3% | $406K-77.3% | $1.8M+698.1% | $224K-60.4% | $567K |
| Inventory | $728K0.0% | $728K-29.7% | $1.0M-21.8% | $1.3M-40.8% | $2.2M+36.7% | $1.6M-81.4% | $8.8M-40.0% | $14.7M |
| Accounts Receivable | $595K0.0% | $595K+109.2% | $284K+57.1% | $181K-84.4% | $1.2M+44.9% | $801K-83.0% | $4.7M-12.5% | $5.4M |
| Goodwill | $674K0.0% | $674K-20.6% | $849K0.0% | $849K0.0% | $849K0.0% | $849K-92.2% | $10.8M-8.1% | $11.8M |
| Total Liabilities | $222.4M0.0% | $222.4M+6.5% | $208.9M+1480.9% | $13.2M-4.0% | $13.8M+1.4% | $13.6M-60.6% | $34.5M-6.1% | $36.7M |
| Current Liabilities | $77.9M0.0% | $77.9M+20.5% | $64.6M+498.6% | $10.8M+1.7% | $10.6M+8.7% | $9.8M-59.6% | $24.2M-0.3% | $24.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $27.7M |
| Total Equity | $48.7M0.0% | $48.7M-76.9% | $210.8M+11289.8% | $1.9M-50.8% | $3.8M-25.2% | $5.0M-77.2% | $22.1M-13.4% | $25.5M |
| Retained Earnings | $172.7M+200.0% | -$172.7M-2883.9% | $6.2M+111.6% | -$53.6M-7.7% | -$49.8M-2.7% | -$48.5M-55.8% | -$31.1M-15.3% | -$27.0M |
UPXI Cash Flow Statement
| Metric | Q2'26 | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.5M+564.7% | -$2.7M+72.6% | -$9.8M-1156.0% | -$779K+43.7% | -$1.4M+29.9% | -$2.0M-352.0% | $784K+317.7% | $188K |
| Capital Expenditures | $32K+85.0% | $17K+17.7% | $15K-51.5% | $31K | $0-100.0% | $167K-8.3% | $183K-1.7% | $186K |
| Free Cash Flow | $12.4M+560.5% | -$2.7M+72.4% | -$9.8M-1110.3% | -$809K+41.5% | -$1.4M+35.4% | -$2.1M-456.4% | $601K+33472.1% | $2K |
| Investing Cash Flow | $36.8M+667.7% | -$6.5M+78.6% | -$30.3M-37553.5% | -$81K | $0-100.0% | $5.8M+3297.2% | -$183K+82.6% | -$1.0M |
| Financing Cash Flow | $47.9M+460.7% | $8.5M-78.3% | $39.4M+5663.8% | $683K | $0+100.0% | -$2.7M-189.9% | -$943K-203.9% | $908K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
UPXI Financial Ratios
| Metric | Q2'26 | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.4%0.0pp | 83.4%-6.3pp | 89.6%+40.3pp | 49.3%-24.9pp | 74.3%+7.0pp | 67.3%+43.0pp | 24.3%-36.9pp | 61.2% |
| Operating Margin | 2177.9%+4355.8pp | -2177.9%-2926.3pp | 748.4%+862.0pp | -113.5%-86.7pp | -26.8%+3.9pp | -30.6%+65.8pp | -96.5%-61.6pp | -34.8% |
| Net Margin | 2222.1%+4444.2pp | -2222.1%-2944.5pp | 722.4%+843.6pp | -121.2%-88.8pp | -32.5%+4.8pp | -37.3%+41.5pp | -78.8%-46.2pp | -32.7% |
| Return on Equity | 367.3% | N/A | 31.7% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 66.0%+132.0pp | -66.0%-81.9pp | 15.9%+41.3pp | -25.4%-18.0pp | -7.4%+1.3pp | -8.7%-1.4pp | -7.3%-3.4pp | -3.9% |
| Current Ratio | 2.200.0 | 2.20-1.2 | 3.41+3.0 | 0.37-0.2 | 0.58-0.1 | 0.690.0 | 0.70-0.2 | 0.93 |
| Debt-to-Equity | 4.570.0 | 4.57+3.6 | 0.99-6.2 | 7.14+3.5 | 3.66+1.0 | 2.70+1.1 | 1.56+0.1 | 1.44 |
| FCF Margin | 154.4%+187.9pp | -33.5%+72.5pp | -106.0%-80.4pp | -25.6%+8.9pp | -34.5%+14.6pp | -49.2%-60.7pp | 11.5%+11.5pp | 0.0% |
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Frequently Asked Questions
What is Upexi Inc's annual revenue?
Upexi Inc (UPXI) reported $15.8M in total revenue for fiscal year 2025. This represents a -39.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Upexi Inc's revenue growing?
Upexi Inc (UPXI) revenue declined by 39.2% year-over-year, from $26.0M to $15.8M in fiscal year 2025.
Is Upexi Inc profitable?
No, Upexi Inc (UPXI) reported a net income of -$13.7M in fiscal year 2025, with a net profit margin of -86.6%.
What is Upexi Inc's earnings per share (EPS)?
Upexi Inc (UPXI) reported diluted earnings per share of $-1.73 for fiscal year 2025. This represents a 92.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Upexi Inc's EBITDA?
Upexi Inc (UPXI) had EBITDA of -$11.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Upexi Inc's gross margin?
Upexi Inc (UPXI) had a gross margin of 68.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Upexi Inc's operating margin?
Upexi Inc (UPXI) had an operating margin of -79.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Upexi Inc's net profit margin?
Upexi Inc (UPXI) had a net profit margin of -86.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Upexi Inc's free cash flow?
Upexi Inc (UPXI) generated -$8.8M in free cash flow during fiscal year 2025. This represents a -752.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Upexi Inc's operating cash flow?
Upexi Inc (UPXI) generated -$8.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Upexi Inc's total assets?
Upexi Inc (UPXI) had $123.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Upexi Inc's capital expenditures?
Upexi Inc (UPXI) invested $388K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Upexi Inc have outstanding?
Upexi Inc (UPXI) had 38M shares outstanding as of fiscal year 2025.
What is Upexi Inc's current ratio?
Upexi Inc (UPXI) had a current ratio of 1.74 as of fiscal year 2025, which is generally considered healthy.
What is Upexi Inc's debt-to-equity ratio?
Upexi Inc (UPXI) had a debt-to-equity ratio of 0.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Upexi Inc's return on assets (ROA)?
Upexi Inc (UPXI) had a return on assets of -11.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Upexi Inc's cash runway?
Based on fiscal year 2025 data, Upexi Inc (UPXI) had $3.0M in cash against an annual operating cash burn of $8.4M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Upexi Inc's Piotroski F-Score?
Upexi Inc (UPXI) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Upexi Inc's earnings high quality?
Upexi Inc (UPXI) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Upexi Inc cover its interest payments?
Upexi Inc (UPXI) has an interest coverage ratio of -120.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Upexi Inc?
Upexi Inc (UPXI) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.