UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nasdaq Capital Market) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ ...

Silver Spring, MD, Aug. 20, 2024 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) ("BTCS" or the "Company"), a blockchain technology-focused company, announced its results for the second quarter ended June 30, 2024 ("Q2 2024"). Second Quarter 2024 Financial Highlights Revenue (3 Months): Q2 2024 revenue reached $0.6 million, representing a 24% increase from Q1 2024 and a 45% increase from Q2 2023. Revenue (6 Months): Revenue for the first half of 2024 surpassed $1.0 million, representing a 45% increase from the ...

Group 1 - BTCS Inc. reported a quarterly loss of $0.04 per share, which aligns with the Zacks Consensus Estimate, showing an improvement from a loss of $0.07 per share a year ago [1] - The company posted revenues of $0.56 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 40.25%, compared to $0.39 million in the same quarter last year [2] - BTCS Inc. shares have declined approximately 20.9% since the beginning of the year, contrasting with the S&P 500's gain of 16.4% [3] Group 2 - The earnings outlook for BTCS Inc. is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.05 on revenues of $0.5 million, and for the current fiscal year at -$0.49 on revenues of $1.7 million [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is in the top 32% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8]

Financial Performance - Total revenues for Q2 2024 reached $561,192, an increase of 45.5% compared to $385,753 in Q2 2023[6] - Gross profit for the first half of 2024 was $683,105, up 36.2% from $501,635 in the same period of 2023[6] - Net loss for Q2 2024 was $(6,727,869), compared to a loss of $(1,178,048) in Q2 2023, reflecting a significant increase in operating expenses[6] - For the six months ended June 30, 2024, net income was $5,528,717, compared to $3,787,420 for the same period in 2023, representing an increase of approximately 46%[11] - Total revenues for the six months ended June 30, 2024, reached $1,012,578, an increase of 45.2% from $697,261 in the same period of 2023[40] - The company reported a basic net loss per share of $(0.43) for Q2 2024, compared to $(0.08) in Q2 2023[6] Assets and Liabilities - Total current assets as of June 30, 2024, were $33,715,986, a 24.8% increase from $27,036,201 at the end of 2023[5] - Total stockholders' equity rose to $33,112,897, a 26.5% increase from $26,165,791 at the end of 2023[5] - Total liabilities decreased to $710,589 as of June 30, 2024, down from $980,900 at the end of 2023, reflecting improved financial management[5] - As of June 30, 2024, the company held approximately $537,000 in cash, down from $1,458,000 at the end of 2023[19] - As of June 30, 2024, the Company held crypto assets valued at $32,983,588, up from $25,202,929 as of December 31, 2023, indicating a significant increase in asset value[74][75] Operating Expenses - Operating expenses for Q2 2024 totaled $1,319,374, down 32.3% from $1,947,722 in Q2 2023[6] - Research and development expenses decreased to $163,777 in Q2 2024, compared to $180,903 in Q2 2023, indicating a focus on cost management[6] - Advertising and marketing expenses for the three months ended June 30, 2024, were approximately $28,000, compared to $3,000 in 2023, reflecting an increase of 833.3%[60] - Stock-based compensation expense for the six months ended June 30, 2024, totaled $573,471, compared to $515,221 for the same period in 2023, reflecting an increase[96] Revenue Sources - Total revenues from blockchain infrastructure operations for the three months ended June 30, 2024, were $561,192, compared to $385,753 for the same period in 2023, representing a year-over-year increase of 45.5%[40] - Revenue from staking to BTCS nodes was $407,287 for the three months ended June 30, 2024, up from $346,721 in the same period of 2023, reflecting a growth of 17.4%[40] - The Company earned $75,853 in gas fees from Ethereum block building through Builder+ for the three months ended June 30, 2024, with no revenue reported for the same period in 2023[40] - The total earned from staking to third-party validator nodes for the six months ended June 30, 2024, was $152,494, compared to $89,832 in the same period of 2023, representing a 69.7% increase[43] Crypto Assets and Staking - The company operates a non-custodial Staking-as-a-Service (StaaS) business, allowing crypto asset holders to earn staking rewards[13] - The Staking-as-a-Service model allows crypto asset holders to earn token rewards by delegating their assets to the Company's validator nodes, creating scalable revenue opportunities[106] - The Validator fee percentage for all blockchain networks operated by BTCS is consistently set at 5%[111] - The company has no exposure to custodial risks associated with crypto exchanges, as it does not hold or take possession of any Delegator funds or crypto assets[110] Changes in Accounting and Reporting - The adoption of ASU No. 2023-08 resulted in a cumulative adjustment of approximately $4,986,000 to the Company's opening Retained Earnings balance as of January 1, 2023[67] - The Company recognized that gas fees earned by Ethereum block builders should be presented as gross revenue, aligning with ASC 606, which reflects a change in accounting principle[68] - Basic income (loss) per share is calculated by dividing net income or loss applicable to common shares by the weighted average number of common shares outstanding during the period[61] Future Plans and Growth - The company is focused on expanding its blockchain infrastructure operations and StaaS offerings to capitalize on the growth of the crypto asset market[15] - The company plans to continue raising proceeds from the sale of Common Stock to fund operations as needed[141] - The company anticipates similar levels of sales of additional crypto assets in future quarters to fund operating activities from staking revenues[140] - The company believes its blockchain infrastructure efforts, including Builder+, StakeSeeker, and ChainQ, will be core to its growth[146]

BTCS (NASDAQ:BTCS) - BTCS operates in the blockchain infrastructure sector and leverages high cash and crypto assets to innovate and expand operations [2] - As of Q1 2024, BTCS held $39 4 million in cash and crypto assets, reflecting a 91% annual increase [2] - The company's AI-enhanced platform, ChainQ, is expected to launch later in 2024 and offers unique insights into blockchain data, potentially attracting new users [6] - BTCS maintained a solid gross margin of 75% throughout Q1 2024, indicating sharp cost management and pricing strategies [6] - In Q1 2024, BTCS began operating its Ethereum block-building business under the Builder+ name, aiming to significantly impact the Ethereum building market [13] Intellicheck (NASDAQ:IDN) - Intellicheck leads in identity verification solutions, targeting rising identity fraud concerns across sectors like real estate and automotive [14] - The identity verification market is growing due to a 13% rise in identity theft incidents in 2023 [15] - Intellicheck's Q1 2024 performance reflects a 10% annual increase in top-line and positive adjusted EBITDA results, supported by a 9% annual increase in SaaS top line [4] - The company maintains high gross profit margins above 90%, demonstrating solid operational discipline [7] - Intellicheck has progressively launched its solutions in new cities and international markets, such as Montevideo, Uruguay, and introduced new offerings like ResourceRouter and SafePointe [8] SoundThinking (NASDAQ:SSTI) - SoundThinking specializes in acoustic gunshot detection and has diversified into law enforcement and commercial security sectors [16] - In Q1 2024, SoundThinking's top-line reached $25 4 million, a 23% increase from Q1 2023, driven by landing 11 new ShotSpotter customers [17] - Gross profit for Q1 2024 was $14 9 million, representing a 32% increase from Q1 2023, with a gross margin of 59% compared to 55% in the previous year [17] - The company's market expansion efforts solidify its presence among the top stocks to buy [18]

Silver Spring, MD, July 10, 2024 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) ("BTCS" or the "Company"), a blockchain technology-focused company, is proud to announce the launch of ChainQ, its pioneering blockchain analytics platform designed to revolutionize the exploration and comprehension of certain blockchain data. ChainQ represents a significant leap forward in simplifying the access, querying, and analysis of blockchain data, empowering users with unprecedented accessibility and insights. "ChainQ sig ...

"ChainQ signifies our commitment to innovation in the blockchain space," said Charles Allen, CEO of BTCS. "We're thrilled to introduce this cutting-edge platform that merges the power of artificial intelligence with advanced search functionalities to offer users an intuitive and comprehensive solution to navigate blockchain data. The initial beta version of ChainQ supports indexed data from the Cosmos (ATOM) blockchain network. While we are launching with data from Cosmos, a smaller blockchain by market cap ...

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BTCS has incorporated Forta's AI-powered threat intelligence into Builder+, its Ethereum block-building operations. This sophisticated intelligence extends beyond merely screening wallet addresses on the OFAC Specially Designated Nationals ("SDN") list but also screens certain other tangentially connected or associated wallet addresses to enhance compliance and the detection of suspicious activities during the block construction phase. Forta's threat intelligence provides early warning alerts about potentia ...