Strive (ASST) builds $668.5M bitcoin position despite $393.6M loss

Rhea-AI Filing Summary

Strive, Inc. reported results for the period from September 12 to December 31, 2025, highlighting an aggressive bitcoin treasury strategy funded through preferred stock and capital markets activity. The company accumulated 13,628 bitcoin as of March 17, 2026, delivering a Bitcoin Yield of 22.2% in Q4 2025 and 13.8% quarter-to-date in Q1 2026, with Bitcoin Gain of ₿1,305 and ₿1,050 and Bitcoin $ Gain of $114.3 million and $78.2 million, respectively.

Strive posted a GAAP net loss of $393.6 million for the successor period, largely driven by a $194.5 million unrealized loss on digital assets and $140.8 million of goodwill and intangible impairment. Non-GAAP adjusted net loss attributable to common stockholders was $208.2 million, or $4.73 per diluted share, versus GAAP loss per share of $9.04. At December 31, 2025, digital assets at fair value were $668.5 million and total assets $745.5 million.

To fund its strategy, Strive completed a $148.4 million SATA preferred stock offering in November 2025 and a follow-on SATA offering in January 2026 generating $109.2 million, using proceeds and cash to retire a $20 million Coinbase Credit loan and exchange SATA for $90.0 million of Semler Scientific convertible notes. The Semler acquisition added approximately 5,048 bitcoin and an operating business now held under Clinivanta. As of March 17, 2026, Strive held $83.7 million in cash and a $50.4 million fair value position in Strategy Inc.’s STRC preferred stock, with 59,286,628 Class A and 9,872,157 Class B common shares and 4,275,118 SATA shares outstanding.

Insights

Digital assets and structured finance analyst

Strive is scaling a bitcoin‑centric balance sheet using preferred equity and Semler’s assets.

Strive is repositioning as a bitcoin treasury and structured finance platform. Digital assets at fair value reached $668.5M at December 31, 2025, out of total assets of $745.5M, showing a balance sheet dominated by bitcoin exposure rather than traditional advisory revenues of only $1.5M in the successor period.

The GAAP net loss of $393.6M stems mainly from a $194.5M unrealized loss on digital assets and $140.8M of goodwill and intangible impairment. Management’s preferred lens is non‑GAAP adjusted net loss attributable to common stockholders of $208.2M, or $4.73 per diluted share, which excludes share‑based compensation, derivative losses, transaction costs and impairments.

Capital structure is evolving quickly: two SATA preferred offerings raised about $257.6M, used in part to retire a $20M Coinbase Credit loan and exchange $90.0M of Semler convertible notes. Future filings may clarify how recurring SATA dividends, bitcoin price volatility and the new $50M STRC preferred investment affect cash flows and coverage metrics over subsequent quarters.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________________________________________________

FORM 8-K

_________________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 19, 2026

_________________________________________________________

STRIVE, INC.

(Exact name of Registrant as Specified in Its Charter)

_________________________________________________________

Nevada			001-41612			88-1293236
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)
200 Crescent Ct., Suite 1400, Dallas, Texas 75201
(Address of principal executive offices and zip code)

Registrant’s Telephone Number, Including Area Code: (855) 427-7360

(Former Name or Former Address, if Changed Since Last Report)

_________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, $0.001 par value per share

ASST

The Nasdaq Stock Market LLC

Variable Rate Series A Perpetual Preferred Stock, $0.001 par value per share

SATA

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On March 19, 2026, Strive, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended December 31, 2025. A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information disclosed pursuant to Item 2.02 in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.						Description
99.1						Press release, dated March 19, 2026, regarding the Company's financial results for the quarter ended December 31, 2025.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

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

									Strive, Inc.
Date:			March 19, 2026			By:			/s/ Matthew Cole
									Matthew Cole
									Chief Executive Officer

1

Exhibit 99.1

Strive, Inc. Announces Financial Results

DALLAS, TX—(GLOBE NEWSWIRE)—March 19, 2026—Strive, Inc. (Nasdaq: ASST; SATA) (“Strive” or the “Company”) today

announced its financial results for the fourth quarter ended December 31, 2025.

Key Highlights Since Strive's Public Listing in September 2025:

•Accumulated a total of 13,628 bitcoin as of March 17, 2026.

▪5,886 bitcoin from initial PIPE proceeds and 351 exchange.

▪5,048 bitcoin from acquisition of Semler Scientific, Inc.

▪2,694 bitcoin from other capital markets activity, including SATA IPO and follow-on, ASST ATM, and SATA ATM.

•Achieved a Bitcoin Yield of 22.2% in Q4 2025 and 13.8% QTD (as of March 17, 2026) in Q1 2026.

•Generated a Bitcoin Gain of ₿1,305 BTC in Q4 2025 and ₿1,050 QTD (as of March 17, 2026) in Q1 2026.

•Generated a Bitcoin $ Gain of $114.3 million in Q4 2025 and $78.2 million QTD (as of March 17, 2026) in Q1 2026.

•As of March 17, 2026, Strive's cash and cash equivalents totaled $83.7 million, and our position in the STRC Stock (as defined below)

had a fair value of $50.4 million. Strive had 59,286,628 and 9,872,157 shares of Class A common stock and Class B common stock,

respectively, and 4,275,118 shares of SATA Stock outstanding.

•On November 10, 2025, the Company completed a registered public offering of 2,000,000 shares of its Variable Rate Series A

Perpetual Preferred Stock (“SATA Stock”) at a price to the public of $80.00 per share, resulting in net proceeds of approximately

$148.4 million, after deducting the underwriting discounts and commissions and the Company’s offering expenses. The SATA Stock

is listed for trading on The Nasdaq Global Market under the symbol “SATA.”

•Consummated the acquisition of Semler Scientific, Inc. ("Semler Scientific") in an all-stock transaction, resulting in Strive acquiring

the approximately 5,048 bitcoin held by Semler Scientific. Strive is executing on its vision for Semler Scientific's operating business,

now held under a wholly-owned subsidiary of Strive called Clinivanta, pursuing a broader mandate centered on preventative

healthcare. In February 2026, we appointed Michelle Fox, the former Chief Medical Officer of Teleflex, as CEO of Clinivanta. Strive

intends to monetize the business as it remains focused on its Bitcoin accumulation strategy.

•On January 27, 2026, the Company completed a follow-on registered public offering of 1,320,000 shares of its SATA Stock at a price

to the public of $90.00 per share, resulting in net proceeds of approximately $109.2 million, after deducting the underwriting discounts

and commissions and the Company’s offering expenses. Strive utilized these proceeds, along with cash on hand, to retire the $20

million loan with Coinbase Credit Inc., which Strive assumed as part of the acquisition of Semler Scientific. Concurrent with the

above public offering, Strive exchanged approximately 929,999 shares of SATA Stock, with a $93.0 million notional balance, for

$90.0 million of the principal balance of the convertible notes assumed as part of the acquisition of Semler Scientific, representing

90.0% of the principal balance of the convertible debt principal balance assumed from Semler Scientific.

•Made an initial investment of $50 million (500,000 shares) of Variable Rate Series A Perpetual Stretch Preferred Stock (the "STRC

Stock") of Strategy Inc. in March 2026.

•GAAP net loss of $393.6 million, for the period from September 12, 2025 to December 31, 2025, with expected non-recurring

expenses and/or non-cash items of $12.4 million and $177.3 million, respectively, accounting for 48.2% of the net loss. Of the

remaining $203.9 million GAAP net loss, $194.5 million (95.4%) was attributable to the fair market value decrease in bitcoin

holdings.

•Non-GAAP adjusted net loss attributable to common stockholders1 of $208.2 million, or $4.73 per diluted common share1, which is

adjusted for the 1-20 reverse stock split that became effective February 6, 2026, for the period from September 12, 2025 to December

31, 2025. $194.5 million (93.4%) of the $208.2 million non-GAAP adjusted net loss attributable to common stockholders was

attributable to the fair market value decrease in bitcoin holdings and $13.7 million (6.6%) was attributable to other business

operations. Non-GAAP adjusted net loss attributable to common stockholders subtracts non-recurring and non-cash items from GAAP

net loss attributable to common stockholders.

“Out of the numerous successes Strive had in our first six months as a public company, the most important was cementing our foundation as a

structured finance company laser focused on digital credit. We see a multi-trillion dollar opportunity for digital credit to scale in the years to

come. We believe our digital credit product, SATA, provides a liquid and scalable solution for investors targeting double-digit yield with

minimal volatility," said Matthew Cole, Chairman & Chief Executive Officer of Strive, Inc. "We’re focused on building a track record of

success for SATA by maintaining a stable trading range and keeping a strong balance sheet, which we believe will generate attractive long-term

returns to our common equity stockholders vs our Bitcoin hurdle rate.”

(1) Non-GAAP adjusted net loss, non-GAAP adjusted net loss attributable to common stockholders, and non-GAAP adjusted net loss per diluted

common share are non-GAAP measures. See page 4 for reconciliations of these non-GAAP financial measures to the most comparable GAAP financial

measures.

2

STRIVE, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(in thousands, except share and per share data)

	December 31, 2025			December 31, 2024
	(Successor)			(Predecessor)
	(unaudited)
Assets:
Current assets:
Cash and cash equivalents	$ 67,499			$ 6,155
Short-term investments	—			16,755
Prepaid expenses	2,708			351
Other current assets	1,569			500
Total current assets	71,776			23,761
Digital assets, at fair value	668,486			—
Property and equipment, net	778			951
Intangible assets, net	355			187
Right-of-use lease assets	4,037			1,786
Other non-current assets	95			1,512
Total assets	$ 745,527			$ 28,197
Liabilities:
Current liabilities:
Compensation and benefits payable	$ 164			$ 1,112
Accounts payable and other liabilities	8,560			2,227
Dividends payable	2,053			—
Total current liabilities	10,777			3,339
Operating lease liabilities	3,512			1,516
Total liabilities	14,289			4,855
Mezzanine equity:
Variable Rate Series A Preferred Stock, $0.001 par value; 20,000,000 and 0 shares authorized, 2,012,729 and 0 shares issued and outstanding, $201.3 million and $0 redemption value and liquidation preference at December 31, 2025 and December 31, 2024, respectively	148,802			—
Total mezzanine equity	148,802			—
Stockholders’ equity:
Predecessor preferred stock, $0.00001 par value; 0 and 1,161,650 shares authorized, 0 and 1,158,802 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	—			72,488
Predecessor Class A common stock, $0.00001 par value; 0 and 2,000,000 shares authorized, 0 and 2,000,000 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	—			—
Predecessor Class B common stock, $0.00001 par value; 0 and 2,339,765 shares authorized, 0 and 400,970 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	—			—
Successor Class A common stock, $0.001 par value; 22,200,000,000 and 0 shares authorized, 34,936,745 and 0 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively1	699			—
Successor Class B common stock, $0.001 par value; 1,050,000,000 and 0 shares authorized, 9,776,540 and 0 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively1	196			—
Additional paid-in capital	1,055,595			—
Accumulated deficit	(474,054)			(49,146)
Total stockholders’ equity	582,436			23,342
Total liabilities, mezzanine equity, and stockholders' equity	$ 745,527			$ 28,197

(1) All shares authorized and outstanding amounts for all periods presented reflect the Company's 1-for-20 reverse stock split on Class A and Class B

common stock, which was effective after the close of trading on February 6, 2026.

3

STRIVE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

(unaudited)

	Successor			Predecessor
	Period from September 12, 2025 to December 31, 2025			Period from January 1, 2025 to September 11, 2025		Year Ended December 31, 2024
Revenues:
Investment advisory fees	$ 1,495			$ 4,187		$ 3,592
Other revenue	17			35		58
Total revenues	1,512			4,222		3,650
Operating expenses:
Fund management and administration	1,867			4,250		4,867
Employee compensation and benefits	27,639			7,222		9,135
General and administrative expense	3,681			4,229		11,248
Marketing and advertising	151			231		862
Depreciation and amortization	71			149		192
Total operating expenses	33,409			16,081		26,304
Investment gains/(losses):
Net unrealized loss on digital assets, at fair value	(194,508)			—		—
Other derivative loss	(14,731)			—		—
Net investment gains/(losses)	(209,239)			—		—
Net operating loss	(241,136)			(11,859)		(22,654)
Other income/(expense):
Other income	723			586		795
Transaction costs	(12,400)			(15,717)		—
Gain on lease remeasurement	—			—		279
Goodwill and intangible asset impairment	(140,785)			—		—
Total other income/(expense)	(152,462)			(15,131)		1,074
Net loss before income taxes	(393,598)			(26,990)		(21,580)
Income tax benefit/(expense)	—			—		—
Net loss	$ (393,598)			$ (26,990)		$ (21,580)
Dividends on preferred stock	(4,320)			—		—
Net loss attributable to common stockholders	$ (397,918)			$ (26,990)		$ (21,580)
Weighted average number of common shares outstanding:
Basic (1)	43,997,862			2,299,243		2,213,424
Diluted (1)	43,997,862			2,299,243		2,213,424
Net loss per common share:
Basic (1)	$ (9.04)			$ (11.74)		$ (9.75)
Diluted (1)	$ (9.04)			$ (11.74)		$ (9.75)

(2) All share and per-share amounts for all periods presented reflect the Company's 1-for-20 reverse stock split on Class A and Class B common stock,

which was effective after the close of trading on February 6, 2026.

4

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures, consisting of non-GAAP adjusted net income (loss), non-

GAAP adjusted net income (loss) attributable to common stockholders and non-GAAP adjusted net income (loss) attributable to

common stockholders per diluted common share. Non-GAAP financial measures are subject to material limitations as they are not

measurements prepared in accordance with GAAP and are not a substitute for such measurements. Our non-GAAP financial

measures are not meant to be considered in isolation and should be read only in conjunction with our consolidated financial

statements, which have been prepared in accordance with GAAP. We rely primarily on such consolidated financial statements to

understand, manage, and evaluate our business performance and use the non-GAAP financial measures as supplemental

information. Reconciliations of reported GAAP historic measures to adjusted non-GAAP measures are included in the financial

schedules contained in this press release.

Non-GAAP adjusted net income (loss)

Non-GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to common stockholders, and the

related non-GAAP adjusted net income (loss) per diluted common share excludes the impact of (i) share-based compensation

expense, (ii) depreciation and amortization, (iii) other derivative loss, (iv) transaction costs, (v) gain on lease remeasurement, and

(vi) goodwill and intangible asset impairments. We believe these measures offer management and investors insight as they

exclude significant non-cash and/or non-recurring items. The following provides GAAP measures of net loss, net loss attributable

to common stockholders, and net loss per diluted common share and the details with respect to reconciling the line items to non-

GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to common stockholders, and non-GAAP

adjusted net income (loss) per diluted common share (all amounts in thousands, other than share and per share information):

	Successor			Predecessor
	Period from September 12, 2025 to December 31, 2025			Period from January 1, 2025 to September 11, 2025		Year Ended December 31, 2024
Net loss	$ (393,598)			$ (26,990)		$ (21,580)
Share-based compensation expense	21,710			—		—
Depreciation and amortization	71			149		192
Other derivative loss	14,731			—		—
Transaction costs	12,400			15,717		—
Gain on lease remeasurement	—			—		(279)
Goodwill and intangible asset impairment	140,785			—		—
Non-GAAP adjusted net income (loss)	$ (203,901)			$ (11,124)		$ (21,667)
Dividends on preferred stock	(4,320)			—		—
Non-GAAP adjusted net loss attributable to common stockholders	$ (208,221)			$ (11,124)		$ (21,667)
Weighted average number of diluted common shares outstanding	43,997,862			2,299,243		2,213,424
Net loss per diluted common share	$ (9.04)			$ (11.74)		$ (9.75)
Non-GAAP adjusted net loss per diluted common share	$ (4.73)			$ (4.84)		$ (9.79)

Important Information About Other Metrics

Bitcoin Yield is a metric that represents the percentage change in bitcoin per share from the beginning of a period to the end of a

period.

Bitcoin Gain is a metric that represents the number of bitcoin held by the Company at the beginning of a period multiplied by the

Bitcoin Yield for such period.

Bitcoin $ Gain is a metric that represents the dollar value of the Bitcoin Gain calculated by multiplying the Bitcoin Gain by the

market price of bitcoin. For determining Bitcoin $ Gain, unless otherwise specified, the Company uses the current market price of

bitcoin. For determining Bitcoin $ Gain for a past fiscal year or other past period, the Company uses the market price of bitcoin as

of 4:00pm ET as reported on the Coinbase exchange on the last day of the applicable period. The Company uses these market

prices of bitcoin for this calculation solely for the purpose of facilitating this illustrative calculation.

The Company uses Bitcoin Yield, Bitcoin Gain and Bitcoin $ Gain as metrics to help assess the performance of its strategy of

acquiring bitcoin in a manner the Company believes is accretive to stockholders. The Company believes these metrics can

supplement investors’ understanding of how the Company chooses to fund bitcoin purchases and the value created in a period by:

5

•in the case of Bitcoin Yield, measuring the percentage change in bitcoin per share from the beginning of a period to the end of a

period, which helps investors assess how the Company’s achievement of its strategy of acquiring bitcoin in an accretive manner varies

across periods;

•in the case of Bitcoin Gain, hypothetically expressing the percentage change reflected in the Bitcoin Yield metric as if it reflected an

increase in the amount of bitcoin held at the end of the applicable period as compared to the beginning of such period, which provides

investors with visibility into the absolute change in the Company’s bitcoin holdings resulting from its Bitcoin Yield; and

•in the case of Bitcoin $ Gain, further expressing that change as an illustrative dollar value by multiplying that bitcoin-denominated

change by the market price of bitcoin at the end of the applicable period as described above.

When the Company uses these metrics, management takes into account the various limitations of these metrics, including that

they do not take into account that our assets, including our bitcoin, are subject to (i) all of our existing and future liabilities,

including our debt, and (ii) the preferential rights of our preferred stockholders to dividends and our assets in a liquidation, and

that all such claims rank senior to those of our common equity; and

Bitcoin Yield, Bitcoin Gain and Bitcoin $ Gain are not, and should not be understood as, financial performance, valuation or

liquidity measures. Specifically:

•Bitcoin Yield is not equivalent to “yield” in the traditional financial context. It is not a measure of the return on

investment the Company’s stockholders may have achieved historically or can achieve in the future by purchasing stock

of the Company, or a measure of income generated by the Company’s operations or its bitcoin holdings, return on

investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets.

•Bitcoin Gain and Bitcoin $ Gain are not equivalent to “gain” in the traditional financial context. They also are not

measures of the return on investment the Company’s stockholders may have achieved historically or can achieve in the

future by purchasing stock of the Company, or measures of income generated by the Company’s operations or its bitcoin

holdings, return on investment on its bitcoin holdings, or any other similar financial measure of the performance of its

business or assets. It should also be understood that Bitcoin $ Gain does not represent a fair value gain of the Company’s

bitcoin holdings, and Bitcoin $ Gain may be positive during periods when the Company has incurred fair value losses on

its bitcoin holdings.

The trading price of the Company’s Class A common stock is informed by numerous factors in addition to Company’s bitcoin

holdings and its actual or potential shares of Class A common stock outstanding, and as a result, the trading price of the

Company’s securities can deviate significantly from the market value of the Company’s bitcoin, and none of Bitcoin Yield,

Bitcoin Gain or Bitcoin $ Gain are indicative or predictive of the trading price of the Company’s securities.

Investors should rely on the financial statements and other disclosures contained in the Company’s SEC filings. In particular, the

Company has adopted Accounting Standards Update No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic

350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”), which requires that the Company measure its bitcoin

at fair value in its statement of financial position as of the end of a reported period, and recognize gains losses from changes in the

fair value in net income (loss) for the reported period. As a result, we may incur unrealized gain or loss on digital assets based on

changes in the market price of bitcoin during a period, which would not be reflected in Bitcoin Yield, Bitcoin Gain or Bitcoin $

Gain.

As noted above, these metrics are narrow in their purpose and are used by management to assist it in assessing whether the

Company is raising and deploying capital in a manner accretive to stockholders solely as it pertains to its bitcoin holdings.

In calculating these metrics, the Company does not consider the source of capital used for the acquisition of its bitcoin. When the

Company purchases bitcoin using proceeds from offerings of redeemable preferred stock, such transactions have the effect of

increasing the Bitcoin Yield, Bitcoin Gain and Bitcoin $ Gain, while also increasing the Company’s senior claims of holders of

instruments other than Class A common stock with respect to dividends and to the Company’s assets, including its bitcoin, in a

manner that is not reflected in these metrics.

If any of the Company’s convertible notes mature or are redeemed without being converted into common stock, or if the

Company elects to redeem or repurchase its non-convertible instruments, the Company may be required to sell shares of its Class

A common stock or bitcoin to generate sufficient cash proceeds to satisfy those obligations, either of which would have the effect

of decreasing Bitcoin Yield, Bitcoin Gain and Bitcoin $ Gain, and adjustments for such decreases are not contemplated by the

assumptions made in calculating these metrics. Accordingly, these metrics might overstate or understate the accretive nature of

the Company’s use of capital to buy bitcoin because not all bitcoin is purchased using proceeds of issuances of Class A common

stock, and not all proceeds from issuances of Class A common stock are used to purchase bitcoin.     

In addition, we are required to pay dividends with respect to our perpetual preferred stock in perpetuity. The Company has

historically not paid any dividends on its shares of Class A common stock, and by presenting these metrics the Company makes

6

no suggestion that it intends to do so in the future. Ownership of the Company’s securities, including its Class A common stock

and preferred stock, does not represent an ownership interest in, or a redemption right with respect to, the bitcoin the Company

holds.  

The Company’s ability to achieve positive Bitcoin Yield, Bitcoin Gain, or Bitcoin $ Gain may depend on a variety of factors,

including factors outside of its control, such as the price of bitcoin, and the availability of debt and equity financing on favorable

terms. Past performance is not indicative of future results.   

These metrics are merely supplements, not substitutes to the financial statements and other disclosures contained in the

Company’s SEC filings. They should be used only by sophisticated investors who understand their limited purpose and many

limitations.

About Strive

Strive, Inc. is a bitcoin treasury company. With Bitcoin as its hurdle rate, the Company is focused on (i) maximizing value for

stockholders; (ii) accumulating bitcoin; and (iii) outperforming bitcoin over the long run.

Strive's wholly owned subsidiary, Strive Asset Management, is a SEC-registered investment adviser. The Company also owns and

operates True North, a Bitcoin-focused media platform.

Learn more at strive.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities

Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 175

promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule

3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements

include, but are not limited to, express or implied statements regarding the outlook and expectations of Strive, the strategic

benefits and financial benefits of the merger transaction with Semler Scientific, Inc. (the "merger transaction"), including the

expected impact of the merger transaction on the combined company’s future financial performance and the ability to successfully

integrate the combined businesses, and the Company’s intentions with respect to adjusting the SATA Stock monthly regular

dividend rate per annum. Such statements are often characterized by the use of qualified words (and their derivatives) such as

“may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,”

“project,” “predict,” “potential,” “assume,” “forecast,” “target,” “budget,” “outlook,” “trend,” “guidance,” “objective,” “goal,”

“strategy,” “opportunity,” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgment

of Strive or its respective management team about future events. Forward-looking statements are based on assumptions as of the

time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing,

extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results

expressed or implied by such forward-looking statements as a result of various important factors. Other risks, uncertainties and

assumptions, including, among others, the following:

•the outcome of any legal proceedings that may be instituted against Strive or its subsidiaries;

•the possibility that the anticipated benefits of the merger transaction are not realized when expected or at all, including as

a result of changes in, or problems arising from, implementation of Bitcoin treasury strategies and risks associated with

Bitcoin and other digital assets, general economic and market conditions, interest and exchange rates, monetary policy,

and laws and regulations and their enforcement;

•the diversion of management’s attention from ongoing business operations and opportunities;

•dilution caused by Strive’s issuance of additional shares of its Class A common stock or SATA Stock;

•potential adverse reactions of Strive’s clients and customers or changes to business or employee relationships, including

those resulting from the completion of the merger transaction; and

•other factors that may affect future results of Strive.

These factors are not necessarily all of the factors that could cause the Company’s actual results, performance or achievements to

differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown

or unpredictable factors, also could harm the Company’s results.

Although Strive believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions

within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results of Strive

will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional

factors that could cause results to differ materially from those described above can be found in Strive’s Annual Report on Form

10-K and other documents subsequently filed by Strive with the SEC.

7

The actual results anticipated may not be realized or, even if substantially realized, they may not have the expected consequences

to or effects on Strive or its businesses or operations. Investors are cautioned not to rely too heavily on any such forward-looking

statements. Forward-looking statements contained in this press release speak only as of the date hereof, and Strive undertakes no

obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or

otherwise, except to the extent required by applicable law.

Strive Media Contact:

media@strive.com

Investor Contact:

ir@strive.com

FAQ

How much bitcoin does Strive, Inc. (ASST) hold and how is it performing?

Strive holds 13,628 bitcoin as of March 17, 2026. Management reports a Bitcoin Yield of 22.2% in Q4 2025 and 13.8% quarter‑to‑date in Q1 2026, with Bitcoin Gain of ₿1,305 and ₿1,050 and Bitcoin $ Gain of $114.3 million and $78.2 million.

What were Strive, Inc.’s GAAP and non-GAAP losses for late 2025?

For the period from September 12 to December 31, 2025, Strive reported a GAAP net loss of $393.6 million. Non-GAAP adjusted net loss attributable to common stockholders was $208.2 million, or $4.73 per diluted share, after excluding share-based compensation, derivative losses, transaction costs, and impairments.

How is bitcoin revaluation affecting Strive, Inc. (ASST) financial results?

Bitcoin revaluation is a major driver of results. In the successor period, Strive booked a $194.5 million net unrealized loss on digital assets at fair value, representing most of the remaining GAAP net loss after adjusting for non-recurring and non-cash items like transaction costs and goodwill impairment.

What capital raises has Strive, Inc. completed for its SATA preferred stock?

Strive completed a registered public offering of 2,000,000 SATA shares in November 2025 at $80.00 per share, generating approximately $148.4 million net. A follow-on offering of 1,320,000 SATA shares in January 2026 at $90.00 per share raised about $109.2 million in net proceeds.

How did the Semler Scientific acquisition impact Strive, Inc.?

Strive acquired Semler Scientific in an all-stock deal, adding approximately 5,048 bitcoin and an operating healthcare-focused business now held under Clinivanta. Strive used SATA proceeds and cash to retire a $20 million Coinbase Credit loan and exchanged SATA for $90.0 million of Semler’s assumed convertible notes.

What does Strive, Inc.’s balance sheet look like after its bitcoin strategy shift?

At December 31, 2025, Strive reported total assets of $745.5 million, including $668.5 million of digital assets at fair value. Mezzanine equity from Variable Rate Series A Preferred Stock was $148.8 million, while total stockholders’ equity stood at $582.4 million and total liabilities at $14.3 million.

What is Strive, Inc.’s cash position and equity capitalization as of March 2026?

As of March 17, 2026, Strive held $83.7 million in cash and cash equivalents and a $50.4 million fair value position in Strategy Inc.’s STRC Stock. The company had 59,286,628 Class A common, 9,872,157 Class B common, and 4,275,118 SATA preferred shares outstanding.

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