Here are the 10-Q quarterly reports from USBC, Inc. (USBC) 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 USBC 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 USBC filings page.
USBC, Inc. is a pre-revenue fintech company building a tokenized U.S. dollar deposit platform and running a Bitcoin treasury strategy. For the six months ended June 30, 2026, it reported a net loss of $46.3 million, including a $29.7 million unrealized loss on digital assets, $11.2 million of stock-based compensation, and a $2.5 million provision for credit losses, partly offset by an $12.0 million deferred tax benefit.
Total assets were $66.5 million, dominated by $58.1 million of digital assets (principally Bitcoin). Cash and cash equivalents were $3.0 million. The company has a $15.0 million Bitcoin‑collateralized loan outstanding, secured by Bitcoin valued at $22.8 million, and also generates option premium income from Bitcoin derivatives, producing $2.2 million realized gains in the first half.
USBC divested its legacy non‑invasive sensor business in March 2026 to focus on digital‑asset banking infrastructure. It has no revenue yet and is funding development largely through Bitcoin holdings, equity compensation, and debt. Management cites its cash, unencumbered digital assets, and credit facility in concluding there is no substantial doubt about its ability to continue as a going concern over the next 12 months.
USBC, Inc. reported a net loss of $25.6 million for the three months ended March 31, 2026, largely driven by a $20.0 million unrealized loss on the change in fair value of its Bitcoin and other digital assets. Selling, general and administrative expenses rose to $11.4 million as the company ramped investment in its USBC tokenized deposit program and related infrastructure, including $3.9 million of stock-based compensation and $3.1 million of affiliate service costs. USBC ended the quarter with $2.0 million in cash and cash equivalents and $68.7 million of digital assets, and entered a $25.0 million Bitcoin‑collateralized Master Loan Agreement, drawing $5.0 million to help fund development. Management cited its digital asset treasury, new credit facility, and access to external financing in concluding there is no substantial doubt about the company’s ability to continue as a going concern over the next twelve months.