Neptune Releases Third Quarter 2026 Financial Results
Rhea-AI Summary
Neptune Digital Assets (OTCQB: NPPTF) reported third quarter 2026 results for the nine months ended May 31, 2026. The company held total assets of $76.6 million and shareholders’ equity of $59.0 million, including $47.5 million in digital currencies and $24.7 million in equity investments, primarily SpaceX. As of this release, Neptune holds 424 Bitcoin valued at about $38.2 million and roughly 36,500 Solana generating staking rewards.
Revenue totaled $758 thousand (Bitcoin mining $238 thousand, staking $520 thousand). Neptune recorded a comprehensive loss of $13.8 million, mainly from a non-cash $25.9 million fair-value loss on digital currencies, partly offset by a $12.5 million unrealized gain on equity investments. Working capital improved to $10.5 million, and the company continues to maintain a US$25 million revolving credit facility with Sygnum Bank. Subsequent events include SpaceX’s IPO, recognition of 6,920 Ionic Digital Class A shares, and a $138 thousand investment in Polymarket.
Positive
- Total assets $76.6M and shareholders’ equity $59.0M as of May 31, 2026
- Digital assets $47.5M plus equity investments $24.7M, primarily SpaceX
- 424 Bitcoin (~$38.2M) and ~36,500 Solana generating staking rewards
- Unrealized equity investment gain $12.5M for the nine months ended May 31, 2026
- Working capital $10.5M versus prior deficit of $178 thousand
- US$25M revolving credit facility with Sygnum Bank maintained for liquidity
Negative
- Comprehensive loss $13.8M versus prior period income of $24.8M
- $25.9M revaluation loss on digital currencies versus $22.1M gain previously
- Total digital assets $47.5M down from $70.2M at August 31, 2025
- Bitcoin mining revenue $238K down from $667K year earlier period
- Staking revenue $520K down from $727K year earlier period
- Finance costs $794K up from $176K for the comparable period
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2026) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain infrastructure and frontier technology company, today announced the release of its condensed consolidated interim financial statements and management discussion and analysis for the nine months ended May 31, 2026.
Third Quarter 2026 Financial and Operational Highlights
- As at May 31, 2026, Neptune reported total assets of
$76.6 million and shareholders' equity of$59.0 million . - Digital currency holdings stood at
$47.5 million while equity investments,primarily SpaceX, totalled$24.7 million . - As of the date of this news release, the Company holds 424 Bitcoin (BTC), currently valued at approximately
$38.2 million and approximately 36,500 Solana (SOL), which generate recurring staking rewards. - Revenue for the nine months ended May 31, 2026 totalled
$758 thousand , consisting of$238 thousand from Bitcoin mining and$520 thousand from staking operations. - The Company reported a comprehensive loss of
$13.8 million , primarily reflecting a$25.9 million non-cash fair-value adjustment on digital currencies resulting from period-end market prices. This was partially offset by a$12.5 million unrealized gain on equity investments. - Neptune continues to maintain its US
$25 million revolving credit facility with Sygnum Bank, providing additional financial flexibility. - Subsequent to quarter-end, SpaceX (NASDAQ: SPCX) completed its IPO. Neptune's gross attributable position is approximately 163,000 shares. In addition, the Company recognized 6,920 Class A shares of Ionic Digital Inc. (NASDAQ: IOND), which commenced public trading on July 28, 2026.
- During the quarter, the Company also made a strategic investment of
$138 thousand in Polymarket, a leading decentralized prediction market platform.
Neptune CEO Cale Moodie commented, "Our reported results this quarter were impacted by non-cash fair-value adjustments on our digital asset portfolio, but the underlying strategy remains firmly on track. We have grown our Bitcoin treasury to 424 BTC, continued to generate recurring staking income, and have seen several of our frontier investments reach important milestones, including SpaceX becoming a publicly traded company and the listing of Ionic Digital. With a strong balance sheet, access to capital, and a disciplined approach to accumulation and yield generation, we remain focused on creating long-term shareholder value."
| Operating and Financial Overview | |||||||
| ($CAD) | |||||||
| For the nine months ended | May 31, 2026 | May 31, 2025 | |||||
| Mining revenue | 238,203 | 666,970 | |||||
| Staking revenue | 520,094 | 726,881 | |||||
| Direct mining expenses (not incl. depreciation) | (270,638 | ) | (662,841 | ) | |||
| Other income* | - | 404,416 | |||||
| Total earnings | 487,659 | 1,135,426 | |||||
| Depreciation** | 88,762 | 138,365 | |||||
| Stock based compensation** | 884,160 | - | |||||
| General expenses | 1,203,107 | 1,524,089 | |||||
| Finance costs | 793,555 | 176,017 | |||||
| Deferred income taxes recovery | (1,449,990 | ) | - | ||||
| Recovery net of impairment | 80,155 | 33,891 | |||||
| Realized gain on settlements and sales | 543,684 | 966,491 | |||||
| Revaluation gain (loss) on digital currencies*** | (25,919,498 | ) | 22,119,466 | ||||
| Unrealized gain (loss) related to equity investments***** | 12,547,474 | 2,341,836 | |||||
| Comprehensive income (loss) | (13,780,120 | ) | 24,758,639 | ||||
| Financial Position | |||||||
| ($CAD) | |||||||
| As at | May 31, 2026 | August 31, 2025 | |||||
| Cash, prepaids, and receivables | 549,195 | 978,178 | |||||
| Total digital assets | 47,517,229 | 70,177,330 | |||||
| Total other assets | 28,548,292 | 16,013,686 | |||||
| Total liabilities | 17,594,404 | 15,520,772 | |||||
| Total shareholders' equity | 59,020,312 | 71,648,422 | |||||
| Working capital**** | 10,502,090 | (178,143 | ) | ||||
| * All non-Bitcoin mining and non-Staking revenue | |||||||
| ** Non-cash items, including depreciation of mining rigs | |||||||
| *** Revaluation is calculated as the change in value (gain or loss) on digital currencies. When digital currencies are sold, the net difference between the proceeds received and the cost of the digital currencies determined on a First-in, First-out basis, is recorded as a gain (loss) on the sale of digital currencies | |||||||
| **** Current assets less current liabilities | |||||||
| ***** Previously reported amount for the nine months ended May 31, 2025, have been restated to reflect the correction of error for the remeasurement of fair value less an applicable discount for lack of marketability of the Company's investment in a private investment fund designed to acquire Solana tokens from a bankrupt estate. | |||||||
About Neptune Digital Assets Corp.
Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated cutting-edge technology. Our unwavering commitment to innovation and strategic growth enables us to continually explore new opportunities and maximize value for our shareholders. For more information about Neptune Digital Assets Corp., please visit our website at www.neptunedigitalassets.com or follow us on X (@NeptuneDAC).
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties.
The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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