UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ NEXT TECHNOLOGY HOLDING INC. (Exact name of small business issuer as specified in its charter) (State or other jurisdiction of incorporati ...

Company Highlights - Next Technology Holding Inc. (NASDAQ:NXTT) experienced a price surge to $23.49, marking an increase of over 16,216%, driven by its innovative technical services in the social e-commerce platform space within Mainland China [1][5] - iCoreConnect Inc. (NASDAQ:ICCT) saw its price rise to $0.072, reflecting a 500% increase due to its robust healthcare technology solutions, including HIPAA-compliant electronic prescription software [2][5] - Turbo Energy, S.A. (NASDAQ:TURB) recorded a price increase to $12.95, a 379% rise, showcasing its expertise in renewable energy solutions, including lithium-ion batteries and AI-based software for energy management [3][5] Market Trends - The significant price movements among these companies reflect broader market trends emphasizing the growing importance of technology and sustainability across various sectors [4] - Investors are increasingly attracted to companies demonstrating innovation, strategic market positioning, and high growth potential, as evidenced by the substantial price increases of these top gainers [4]

Core Viewpoint - Next Technology Holding Inc. announced a reverse stock split at a ratio of 200-for-1, effective September 16, 2025, to reduce the number of outstanding shares and potentially enhance the stock's market perception [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of shares from approximately 566,265,135 to about 2,831,326 shares [3]. - The reverse stock split will be executed uniformly for all stockholders, with no fractional shares issued; any fractions will be rounded up [3][4]. - The company's common stock will continue to trade under the existing symbol "NXTT" on the Nasdaq Capital Market, starting on a split-adjusted basis [2]. Group 2: Company Overview - Next Technology Holding Inc. is a technology firm focused on AI-enabled software development and strategic Bitcoin acquisition, incorporated in Wyoming on March 28, 2019 [5]. - The company operates on a dual-engine strategy of "AI plus digital assets," providing AI-enabled SaaS solutions to industrial clients across the Asia-Pacific region [5]. - The company believes in Bitcoin's long-term appreciation potential due to its finite supply and views it as a hedge against inflation [5].

Core Viewpoint - Next Technology Holding Inc. will implement a 200-for-1 reverse stock split effective September 16, 2025, to reduce the number of outstanding shares significantly [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of shares from approximately 551,578,391 to about 2,757,892 shares [3]. - The reverse stock split will not affect the number of authorized shares or the par value of the common stock [3]. - Stockholders holding shares in electronic form will see the changes automatically reflected in their brokerage accounts without needing to take action [4]. Group 2: Company Overview - Next Technology Holding Inc. is a technology firm focused on AI-enabled software development and strategic Bitcoin acquisition, incorporated in Wyoming on March 28, 2019 [5]. - The company operates on a dual-engine strategy of "AI plus digital assets," providing SaaS software design and development to industrial clients across the Asia-Pacific region [5]. - The company believes in Bitcoin's finite supply as a factor for long-term appreciation and a potential hedge against inflation [5].

Group 1 - The company Next Technology Holding Inc. has completed a registered direct offering of $9 million, selling a total of 60,000,000 shares at a purchase price of $0.15 per share [1][2] - The offering was conducted under a shelf registration statement that became effective on September 16, 2022, with the SEC [2] - Univest Securities, LLC acted as the sole placement agent for this offering [2] Group 2 - Univest Securities has been registered with FINRA since 1994, providing a range of financial services including brokerage, investment banking, and wealth management [3] - Since 2019, Univest Securities has successfully raised over $1.3 billion for global issuers and completed approximately 100 transactions across various investment banking services [3]

Core Insights - Univest Securities, LLC announced the closing of a registered direct offering for Next Technology Holding Inc., raising approximately $9 million by selling 60 million shares at a price of $0.15 per share [1][2]. Company Overview - Next Technology Holding Inc. is a technology company focused on a dual-engine strategy of "AI plus digital assets," providing AI-enabled SaaS solutions to industrial clients primarily in the Asia-Pacific region [6]. - The company believes in the long-term appreciation of Bitcoin due to its finite supply and potential as a hedge against inflation [6]. Offering Details - The offering was conducted under a shelf registration statement previously filed with the SEC, which was declared effective on September 16, 2022 [3]. - The offering included pre-funded warrants with an exercise price of $0.001 per share, allowing for flexibility in the investment structure [1].

CHEYENNE, WY, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Next Technology Holding Inc. (NASDAQ: NXTT) (the “Company”), today announced that it has entered into a definitive agreement with one investor for the purchase and sale of an aggregate of 60,000,000 of the Company’s common stock, no par value (the “Shares”) (or pre-funded warrants in lieu thereof) at a purchase price of $0.15 per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for Shares ...

Group 1 - U.S. stocks experienced mixed performance, with the Dow Jones index declining over 200 points on Monday [1] - Keurig Dr Pepper Inc. shares fell sharply by 7.8% to $32.38 following the announcement of its acquisition of JDE Peet's [1] - Valneva SE shares dropped 21% to $9.19 after the FDA suspended the license for IXCHIQ [3] Group 2 - DeFi Development Corp. saw its shares dip 18% to $16.51 after announcing a $125 million offering of 4.2 million shares at $12.50 per share [3] - Venu Holding Corporation's shares fell 13.3% to $15.56 after announcing an offering of 1.7 million shares [3] - Axogen, Inc. shares declined 10.2% to $14.60 due to an FDA Major Amendment designation delaying the Avance Nerve Graft decision to December 5, 2025 [3]

[H1 2025 Financial & Operational Highlights](index=1&type=section&id=H1%202025%20Financial%20%26%20Operational%20Highlights) The company achieved substantial net income growth and significantly expanded its Bitcoin holdings in H1 2025, driven by fair value gains from digital assets and strategic acquisitions H1 2025 Key Financial Metrics vs H1 2024 | Metric | H1 2025 (US$ million) | H1 2024 (US$ million) | Change | | :--- | :--- | :--- | :--- | | Net Income | 312.0 | 12.6 | +2,373% | | Other Income | 395.7 | 15.6 | +2,437% | Asset Growth (as of June 30, 2025) | Metric | June 30, 2025 | Dec 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Bitcoin Holdings | 5,833 BTC | 833 BTC | +5,000 BTC | | Cash & Digital Assets | US$632.7 million | US$79.0 million | +701% | - The company successfully acquired **5,000 Bitcoin** in H1 2025 in exchange for a combination of **135.2 million common shares**, warrants to purchase **294.1 million shares**, and **$12.1 million in cash**[6](index=6&type=chunk) - The significant increase in net income and other income was primarily driven by a **$449.0 million gain** from the increase in Bitcoin's price[5](index=5&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management attributed strong H1 2025 performance to a dual strategy of AI software development and strategic Bitcoin acquisition, planning continued disciplined accumulation - Management highlighted the strength of its diversified business model, combining AI-enabled software development services with a strategic Bitcoin acquisition and holding strategy[3](index=3&type=chunk) - The company's forward-looking strategy involves continuing to deliver innovative software solutions while prudently managing and expanding its Bitcoin holdings[3](index=3&type=chunk) - NXTT views Bitcoin as a long-term store of value and a potential hedge against inflation, believing in its potential for long-term appreciation with increasing global adoption[3](index=3&type=chunk) [Half year 2025 Financial Review](index=2&type=section&id=Half%20year%202025%20Financial%20Review) H1 2025 financial performance was significantly boosted by a substantial increase in other income, primarily from digital asset fair value gains, leading to a dramatic rise in net income - General and administrative expenses for H1 2025 were **$705,820**, a slight increase from **$675,144** in H1 2024, primarily due to higher litigation-related legal fees[7](index=7&type=chunk) - Other income for H1 2025 was **$395.7 million**, compared to **$15.6 million** in H1 2024, with the increase mainly attributed to fair value gains from digital assets[8](index=8&type=chunk) - Net income for H1 2025 reached **$312.0 million**, a significant increase from **$12.6 million** in H1 2024, also driven by the fair value gain from digital assets[9](index=9&type=chunk) [Financial Statements](index=3&type=section&id=Financial%20Statements) The condensed consolidated financial statements reflect a substantial increase in net income and total assets, primarily driven by the significant appreciation of digital assets [Condensed Consolidated Statements of Operations](index=3&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20INCOME(LOSS)) The statements of operations highlight a dramatic increase in other income and net income for both the six and three months ended June 30, 2025 Statement of Operations (Six Months Ended June 30) | Metric | 2025 (USD) | 2024 (USD) | | :--- | :--- | :--- | | Other income | 395,661,456 | 15,595,778 | | Net income | 312,014,952 | 12,619,286 | | Net income per share, basic and diluted | 1.16 | 2.74 | Statement of Operations (Three Months Ended June 30) | Metric | 2025 (USD) | 2024 (USD) | | :--- | :--- | :--- | | Other income (loss) | 150,350,300 | (8,423,621) | | Net income (loss) | 118,574,527 | (6,927,209) | | Net income (loss) per share, basic and diluted | 0.27 | (0.99) | [Condensed Consolidated Balance Sheets](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) The balance sheets show a significant expansion in digital assets, total assets, and stockholders' equity as of June 30, 2025 Balance Sheet Highlights (in USD) | Metric | June 30, 2025 (USD) | December 31, 2024 (USD) | | :--- | :--- | :--- | | Digital assets | 632,067,553 | 78,322,430 | | Total assets | 633,275,940 | 92,916,317 | | Total liabilities | 93,674,759 | 11,288,255 | | Total Stockholders' Equity | 539,601,181 | 81,628,062 | [Company Overview & Forward-Looking Statements](index=2&type=section&id=Company%20Overview%20%26%20Forward-Looking%20Statements) Next Technology Holding Inc. operates with a dual strategy of AI-enabled SaaS and strategic Bitcoin holdings, while acknowledging risks related to digital asset volatility and regulatory changes - The company's business model is built on a dual-engine strategy of "AI plus digital assets," providing AI-enabled SaaS software while also holding Bitcoin for long-term appreciation and as a potential inflation hedge[10](index=10&type=chunk) - Key risks identified in forward-looking statements include fluctuations in the market price of Bitcoin, changes in accounting or securities laws, the impact of new investment vehicles for digital assets, and cybersecurity threats like hacks or loss of private keys[11](index=11&type=chunk)

Core Insights - Next Technology Holding Inc. reported strong financial performance for H1 2025, highlighting the effectiveness of its diversified business model and successful execution of software development and Bitcoin acquisition strategies [3][6]. Financial Highlights - Net income for the six months ended June 30, 2025, was $312.0 million, a 2,373% increase from $12.6 million in the same period of 2024 [6]. - Other income for the same period was $395.7 million, representing a 2,437% increase from $15.6 million in H1 2024, primarily due to a $449.0 million gain from the increase in Bitcoin's price [5][6]. - Total cash and cash equivalents combined with digital assets reached $632.7 million as of June 30, 2025, a 701% increase from $79.0 million as of December 31, 2024 [6]. Operational Highlights - The company's total Bitcoin holdings increased significantly to 5,833 Bitcoin as of June 30, 2025, compared to 833 Bitcoin as of December 31, 2024 [4]. - The company successfully acquired 5,000 Bitcoin through the issuance of shares, warrants, and cash, with Bitcoin's price surging 15.3% in the first half of 2025 [7]. Strategic Focus - The company aims to continue leveraging its expertise in software development while managing and expanding its Bitcoin holdings, viewing Bitcoin as a long-term store of value and a potential hedge against inflation [3][6].