Here are the 10-Q quarterly reports from Avalanche Treasury Corporation (AVAT) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AVAT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AVAT filings page.
Avalanche Treasury Corporation (AVAT) reported its first post–business-combination quarter heavily driven by crypto market volatility and transaction accounting. For the six months ended June 30, 2026, the company generated $3.6 million of staking revenue, net of fees, but recorded a large net loss of $71.4 million, primarily from a $60.8 million fair value decrease in AVAX holdings, $16.2 million of stAVAX/sAVAX impairment, and $10.5 million realized losses on AVAX.
Total assets declined to $109.0 million from $190.9 million at year-end 2025, driven by lower AVAX fair values, while cash and USDC together were $8.8 million. The company closed its reverse recapitalization with Mountain Lake Acquisition Corp., settled a $40.0 million token sale liability in stock (recognizing a $7.0 million loss), and drew $23.0 million under a FalconX credit facility collateralized by AVAX. Despite losses, management cites cash, liquid digital assets and expected staking cash flows as sufficient to meet obligations for at least twelve months and concluded there is no substantial doubt about going concern.
Avalanche Treasury Corporation’s quarterly report highlights a crypto-heavy balance sheet, large losses, and going-concern risks. The successor Pubco entity reported no revenue and a net loss of $139,635 for the three months ended March 31, 2026, with no cash, total assets of $2.2 million in deferred transaction costs, and a working capital deficit of $285,017. Management concludes there is substantial doubt about its ability to continue as a going concern without new equity or the planned SPAC business combination.
The predecessor Avalanche Treasury Company LLC held total assets of $141.8 million, largely in AVAX and stAVAX digital assets, but recorded a net loss of $26.8 million. Staking revenue was $2.1 million, outweighed by a $46.2 million fair value loss on AVAX and a $5.1 million impairment on stAVAX, partly offset by a $24.8 million gain from the token sale liability remeasurement. The business is highly concentrated in AVAX, subject to lock-ups and protocol risks, and remains dependent on closing the Mountain Lake Acquisition Corp. business combination and raising additional capital.