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Antalpha Platform (ANTA) reports Aurelion’s Q3 2026 $25M loss

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(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Antalpha Platform Holding Company furnished a report in which its publicly traded subsidiary Aurelion Inc. announced unaudited financial results for the quarter ended June 30, 2026; the earnings release is also incorporated into Antalpha’s existing Form F-3 shelf registration.

For this third fiscal quarter, Aurelion recorded an operating loss of $24.4 million, driven mainly by fair value losses on XAUt holdings as gold prices fell, and a net loss from continuing operations of 25,063,838, compared with 1,538,793 a year earlier, as total net revenue declined from 2,975,282 to zero and total operating expenses increased to 24,399,312.

As of June 30, 2026, Aurelion reported unaudited Net Asset Value of 91.9 (US$ millions), based on 134.7 of digital assets and cash, including 133.1 in XAUt priced at 3,996 per unit, and 42.8 of debt; this equated to NAV per share of 2.44 on 37.6 million shares outstanding and XAUt value per share of 3.54.

Positive

  • None.

Negative

  • Net loss from continuing operations reached 25,063,838 for the quarter ended June 30, 2026, versus 1,538,793 a year earlier, reflecting sharply higher operating expenses tied to digital-asset fair value movements.
  • Total net revenue fell to zero in the June 30, 2026 quarter, compared with 2,975,282 in the prior-year period, leaving performance driven entirely by gains and losses on digital-asset positions.

Filing Explained

The June 30 balance sheet separately lists $66,388,090 of related-party collateral receivables and $32,020,481 of XAUE exposure.

The July 28 6-K furnishes Aurelion’s unaudited June 30 results and adds balance-sheet detail: it separately lists a $66,388,090 XAUt collateral receivable from a related party and $32,020,481 of XAUE.

That means the reported digital-asset position was not presented solely as directly held XAUt; the balance sheet also contained a related-party receivable and XAUE exposure.

The release identifies XAUE-specific liquidity constraints on redemption and counterparty-default risk in institutional lending among risks tied to these assets.

A subsequent balance-sheet disclosure is the point at which changes in the related-party receivable and XAUE line items can be checked.

Operating loss $24.4 million Quarter ended June 30, 2026, primarily driven by fair value loss on XAUt
Net loss from continuing operations 25,063,838 Quarter ended June 30, 2026
Total net revenue 2,975,282 Quarter ended June 30, 2025, compared with zero in 2026
Net Asset Value 91.9 US$ millions, as of June 30, 2026
Digital assets and cash 134.7 US$ millions, as of June 30, 2026
Debt 42.8 US$ millions, as of June 30, 2026, per NAV table
Shares outstanding 37.6 Millions of shares included in NAV per share as of June 30, 2026
XAUt price per unit 3,996 US$ closing price on June 30, 2026 used for XAUt valuation
Net Asset Value financial
"Aurelion reports the following unaudited Net Asset Value ("NAV") based on its balance sheet"
Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.
XAUt financial
"operating loss of $24.4 million, primarily driven by fair value loss on XAUt held"
XAUT is a digital token that represents ownership of physical gold held in a vault, letting investors buy, sell, and move gold like a digital asset. It matters because it provides a way to gain exposure to the price of gold without buying, storing, or insuring a metal bar yourself—think of it as a receipt for a specific amount of gold that can be traded instantly—while introducing reliance on the token issuer and vault custodian for actual backing and redemption.
tokenized gold financial
"building a business around the development of tokenized gold, Aurelion provides wealth management"
Digital tokens that represent ownership of physical gold held in secure storage, recorded on a secure digital ledger so each token acts like a digital receipt for a specific amount of metal. Investors use tokenized gold to buy, sell, or hold small fractions of gold more easily and cheaply than buying bars or coins, but they take on different custody and counterparty risks tied to the issuer and where the metal is stored.
rehypothecation financial
"competition from other digital asset treasury companies and elevation of rehypothecation risk"
Rehypothecation is when a bank or broker reuses assets a client has posted as collateral — such as cash or securities — to back the firm’s own borrowing or trades. It matters to investors because it can increase returns for the firm but also raises counterparty and liquidity risk: your collateral may be tied up or lost if the intermediary faces trouble, like lending your car keys to a mechanic who then lends them to someone else.
XAUE protocol technical
"risks associated with the Company's participation in the XAUE protocol, including fluctuation"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What losses did Aurelion report in Q3 2026 for Antalpha (ANTA)?

Aurelion reported an operating loss of $24.4 million and a net loss from continuing operations of 25,063,838 for the quarter ended June 30, 2026, largely driven by fair value losses on XAUt and XAUE rather than operating revenue.

How did Aurelion’s Q3 2026 revenue compare with the prior year for ANTA?

Aurelion generated no revenue in the quarter ended June 30, 2026, versus 2,975,282 in total net revenue in the same quarter of 2025, contributing to a much larger net loss year over year.

What Net Asset Value did Aurelion report as of June 30, 2026?

As of June 30, 2026, Aurelion reported unaudited Net Asset Value of 91.9 (US$ millions), based on 134.7 in digital assets and cash and 42.8 in debt, implying NAV per share of 2.44 on 37.6 million shares outstanding.

What does Aurelion’s June 30, 2026 balance sheet look like?

At June 30, 2026, Aurelion reported total assets of 135,338,526 and total liabilities of 44,437,480, including 42,792,744 in loan payables to a related party, resulting in shareholders’ equity of 90,901,046, compared with a deficit at September 30, 2025.

What business model underpins Aurelion, Antalpha’s digital gold platform?

Aurelion operates as a digital gold infrastructure company built around XAU₮, on-chain gold backed by physical LBMA bars. It aims to provide risk-control and technology layers for tokenized gold, alongside wealth and asset management services tied to these digital gold assets.

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 6-K

 


 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of July 2026

 

Commission File Number: 001-42637

 


 

Antalpha Platform Holding Company

(Translation of registrant’s name into English)

 


 

7 TEMASEK BOULEVARD, #31-02 SUNTEC TOWER 1,
SINGAPORE
038987

(Address of principal executive office)

 


 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

 

 

 

 


Explanatory Note

 

Exhibit 99.1 to this current report on Form 6-K is incorporated by reference into the registration statement on Form F-3 of Antalpha Platform Holding Company (File No. 333-297222) and related prospectus, and shall be a part thereof from the date on which this current report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

 


On July 27, 2026, Aurelion, Inc. (Nasdaq: Aure), a publicly traded subsidiary of Antalpha Platform Holding Company, issued a press release announcing its financial results for the quarter ended June 30, 2026, incorporated by reference as Exhibit 99.1.

 

 

 


EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

Earnings Release of Aurelion Inc., dated July 27, 2026

 

 

 


SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

Antalpha Platform Holding Company

 

 

 

By

:

/s/ Paul Liang

Name

:

Paul Liang

Title

:

Chief Financial Officer

 

    

 

Date: July 28, 2026

 

Exhibit 99.1

 

Aurelion Reports Third Fiscal Quarter 2026 Financial Results

 

HONG KONG, July 27, 2026 / -- Aurelion Inc. (NASDAQ: AURE) ("Aurelion" or the "Company"), a digital gold infrastructure company, today announced its unaudited financial results for the quarter ended June 30, 2026.

 

“We're transforming Aurelion into the risk-control and technology layer for on-chain gold — a transition we believe positions Aurelion for durable, recurring, technology-driven revenue,” said Frank Zheng, Chief Executive Officer. “Our focus is turning idle gold exposure into productive, institutional-grade infrastructure for the years ahead.”

 

Business Highlights

 

Participation in XAUE: As previously announced, Aurelion has committed 10,000 units of XAUt to XAUE, a new protocol that enables yield generation on gold holdings by allowing tokenized gold to be deployed while preserving exposure to the underlying asset. As of June 30, 2026, Aurelion completed the subscription for XAUE with 8,000 units of XAU₮.
NAV: Aurelion NAV as of June 30, 2026 was $91.9 million (33,318 units of XAU₮, including 8,000 principal units of XAU₮ that are staked into XAUE) and NAV per share was $2.44.

 

For the quarter ended June 30, 2026, the Company reported operating loss of $24.4 million, primarily driven by fair value loss on XAUt held resulting from the depreciation of gold during the quarter.

 

Net Asset Value (NAV) as of June 30, 2026

 

Aurelion reports the following unaudited Net Asset Value ("NAV") based on its unaudited condensed consolidated balance sheet as of June 30, 2026:

 

 

(In US$1 millions, except for XAUT price and unit, unaudited) 

As of

June 30, 2026

Digital assets and Cash   134.7 
Cash & Cash Equivalents   1.6 
XAUt   133.1 
Price per Unit (based on 06/30/2026 price)   3,996 
Units (1 XAUt = 1 troy ounce) (1)   33,318 
Debt   42.8 
Net Asset Value(2)   91.9 
      
Shares Outstanding(3)   37.6 
NAV per Share   2.44 
Gold Ounce per Share   0.00089 
XAUt Value per Share(4)   3.54 

 

 

 

 

(1)Includes 8,000 units of XAUt that are staked into XAUE, a yield-bearing digital gold protocol.

 

(2)

NAV is calculated as digital assets plus cash minus debt.

 

(3)

The number of shares outstanding is presented in million, and includes issued and outstanding share capital and pre-funded warrants and primary warrants that were outstanding as of June 30, 2026.

 

(4)XAUt value is based on the closing price of US$3,996 as of June 30, 2026.

 

About Aurelion
Aurelion is a publicly traded company building a digital gold risk and technology infrastructure around XAU₮, on-chain gold backed by physical LBMA bars. XAU₮ combines the stability of physical gold with the efficiency of blockchain, providing investors access to tokenized gold reserve that could serve as a safe haven to inflation, currency devaluation and crypto volatility. In parallel to building a business around the development of tokenized gold, Aurelion provides wealth management and asset management services.

 

Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements, although not all forward-looking statements contain these words. These statements are based on assumptions and assessments made by Aurelion in light of its experience and perception of historical trends, current conditions, future developments and other factors it believes appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct, and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

 

 

 

 

Forward-looking statements are not guarantees of future performance. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: changes in general economic, business, industry and market conditions, including interest rates and the price of gold; changes in applicable laws and regulations, including with respect to cryptocurrencies, stablecoin ecosystems and decentralized finance protocols; the Company's ability to access additional capital and to attract and retain qualified personnel; changes in the price of digital assets, including XAU₮, and in the price correlation between stablecoins and their pegged assets; risks associated with holding digital assets, including price volatility, limited liquidity and trading volumes, susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges, and other risks inherent in their electronic, virtual-form and decentralized nature; the possibility of greater fraud, security failures or operational problems on digital asset trading venues compared to more established asset classes, and any malfunction, breakdown or abandonment of underlying blockchain protocols or other technological difficulties that may prevent access to or use of digital assets; the fluctuation of the Company's operating results, including because it may be required to account for its digital assets at fair value; limitations on the Company's ability to time the price of its digital asset purchases; potential subjection to corporate alternative minimum tax due to unrealized fair value gains on digital asset holdings; legal, commercial, regulatory and technical uncertainty regarding digital assets, including the possibility that regulators reclassify any digital assets the Company holds as a security or a "cash item," causing it to be in violation of securities laws or to be classified as an "investment company" under the Investment Company Act of 1940; competition from other digital asset treasury companies and financial products related to gold; elevation of rehypothecation risk in times of changing market conditions; risks arising from the use of third-party custodians for digital assets, including loss of direct control and dependence on such custodians' security practices and operational integrity, and the potential loss of digital assets as a result of custodian insolvency, insider theft, or security breaches; and risks associated with the Company's participation in the XAUE protocol, including fluctuation of the XAU₮ to XAUE exchange ratio, counterparty default risk in connection with institutional lending activities, smart contract vulnerabilities or failures, the performance and operational integrity of the protocol's issuer, participants and service providers, potential liquidity constraints on the redemption of XAUE, and other risks identified in the XAUE protocol's risk disclosure statement. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

 

 

Contacts
Investor Contact: ir@aurelion.com

 

 

 

 

 

Aurelion Inc.

Condensed Consolidated Statements of Income

(in USD, except for shares data)

 

 

   Three months
ended June 30,
   2025
(unaudited)
  2026
(unaudited)
Total net revenue
   

2,975,282

    - 
Total distribution and service costs   4,107,433    - 
Gross Margin   (1,132,151)   - 
Operating expense          
Sales and marketing   -    37,653 
General and administrative   482,698    2,072,369 
Provision for credit losses   32,599    - 
Unrealized loss/(gain) on XAUt and XAUt collateral receivables due from related party(i)   -    17,476,981 

Unrealized loss/(gain) on XAUE(ii)

   -    

3,707,169

 
Realized loss/(gain) on XAUt(iii)   -    1,105,140 
Total operating expenses   515,297    24,399,312 
 Loss from operations   (1,647,448)   (24,399,312)
Non-operating income/(expense)          
-       Loan Interests   -    (620,925)
-       Other income/(expense)   76,013    (43,601)
Loss from continuing operations before income tax   (1,571,435)    (25,063,838)
Income tax benefit   32,642    - 
Net loss from continuing operations   (1,538,793)   (25,063,838)
Net income from discontinued operations   33,625    - 
Net loss   (1,505,168)   (25,063,838)
Comprehensive loss   (1,473,610)   (24,986,690)
Weighted average number of ordinary shares          
Basic(iv)   6,853,803   34,616,450
Diluted(iv)   6,853,803    34,616,450 

Loss per share

      
Basic(iv)   (0.22)   (0.72)
Diluted(iv)   (0.22)   (0.72)
           

 

(i)Represents unrealized loss/(gain) on XAUt assets held by the Company as of the reporting date.
(ii)Represents unrealized loss/(gain) on XAUE.
(iii)Represents the loss/(gain) recognized at the inception of subscribing for XAUE with XAUt.
(iv)All share and per share data for prior periods have been retrospectively adjusted to reflect the 1-for-10 share consolidation effective February 19, 2026.

  

 

 

 

 

Aurelion Inc.

Condensed Consolidated Balance Sheets

(in USD)

 

 

   As of September  As of June
   30, 2025  30, 2026
      (unaudited)
Assets      
Current assets:          
Cash and cash equivalents   5,024    1,592,390 
Crypto assets held   -    133 
XAUt   -    34,789,724 
XAUE   -    32,020,481 
Prepaid expenses and other current assets   14,126    56,014 
Deferred offering cost   12,466    - 
Total current assets   31,616    68,458,742 
Non-current assets:          
XAUt collateral receivable from related party (i)   -    66,388,090 
Deferred offering cost   -    491,694 
Total non-current assets   -    66,879,784 
Total assets   31,616    

135,338,526

 
Liabilities and shareholders’ equity Current liabilities:          
Current liabilities:          

Amounts due to related parties

   1,664     121,928 
Accrued expenses and other current liabilities(ii)   321,611    1,522,808 
Total current liabilities   323,275    1,644,736 
Non-current liabilities:          
Loan payables due to related party   -    42,792,744 
Total non-current liabilities   -    42,792,744 
Total liabilities   323,275    44,437,480 
Total shareholders’ (deficit)/equity   (291,659)   90,901,046 
Total liabilities and shareholders’ equity   31,616    135,338,526 

 

 

(i)XAUt collateral receivable from related party serves as collateral for the loan payable due to related party of $42,792,744.
(ii)Accrued expenses and other current liabilities include accrued liabilities, other payables and the payroll payable.

 

Filing Exhibits & Attachments

1 document