TAMPA, Fla., June 05, 2025 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ: UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space, today announced that options on its common stock are approved for trading on the Nasdaq Options Market. The options will trade under the ticker symbol “UPXI” and include a range of standard expiration dates and strike prices. The listing of options on UPXI shares provides investors wi ...

TAMPA, Fla., May 30, 2025 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space, today announced that management will present at the iAccess Alpha Virtual Best Ideas Summer Investment Conference 2025 on June 24 and 25, 2025. iAccess Alpha Virtual Conference Details:Date: June 24-25, 2025Presentation Date and Time: Tuesday, June 24th at 12 ...

Collaboration to strengthen Upexi’s engagement with both institutional and crypto-native audiencesTAMPA, Fla., May 29, 2025 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ: UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space, today announced that it has selected GMI Digital as its crypto-native marketing and design service provider. As Upexi advances its Solana-first strategy—offering investors scalable, transp ...

Purchases 77,879 locked SOL for $11.8 million Upexi now has 679,677 SOL, valued at $121.2 million at the current price of $178.261 TAMPA, Fla., May 28, 2025 (GLOBE NEWSWIRE) -- Upexi, Inc. (NASDAQ: UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space, today announced it purchased 77,879 locked SOL at $151.50 each for a total of $11.8 million. At the current $178.26 price of SOL, this represents a $2.1 mi ...

Financial Results - Upexi, Inc. reported financial results for the quarter ended March 31, 2025, highlighting significant operational achievements[4]. - A press release detailing the financial and operational results was issued on May 16, 2025[4]. - The financial statements and exhibits related to the earnings report are included in the filing[6]. Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[3]. Report Signing - The Chief Financial Officer, Andrew J. Norstrud, signed the report on behalf of Upexi, Inc.[9].

Revenue Performance - Revenue for the three months ended March 31, 2025, decreased by $2,062,762 or 39% to $3,160,480 compared to $5,223,242 in the same period last year, primarily due to a strategic shift away from the recommerce business[164] - For the nine months ended March 31, 2025, revenue declined by $9,438,325 or 45% to $11,522,487, with approximately $8,277,000 of the decline related to the strategic shift away from recommerce[173] Cost and Profitability - Cost of revenue decreased by $2,354,185 or 60%, leading to a gross profit increase of approximately $290,000 and a gross profit margin increase to 49% from 24% year-over-year[165] - The net loss for the three months ended March 31, 2025, was $3,831,660, a decrease from a loss of $4,118,612 in the same period last year[172] Expenses - General and administrative expenses increased by $828,028 or 46%, attributed to legal and auditing costs, with expectations for normalization post-restructuring[168] Cash Flow and Working Capital - Cash flows used in operating activities for continuing operations were $(4,137,346) for the nine months ended March 31, 2025, compared to $(3,700,706) in the prior year[184] - The company had current assets of $3,968,157 and current liabilities of $10,796,201 as of March 31, 2025, resulting in a working capital deficit of $(6,828,044)[183] - Management expects sufficient working capital to fund operations and meet debt obligations over the next twelve months following the issuance of the financial statements[189] Investment Activities - Net cash provided by investing activities for the nine months ended March 31, 2025, was $5,757,517, primarily from the sale of a building and collection of the purchase price for E-core[186] - On April 24, 2025, the company closed a private placement offering, selling 35,970,383 shares at $2.28 per share, raising approximately $92,586,000 net[188]

Revenue Performance - Revenue for the three months ended December 31, 2024, decreased by $3,457,388 or 46% to $4,005,492 compared to $7,462,880 in the same period last year[141]. - Revenue for the six months ended December 31, 2024, declined by $7,375,563 or 47% to $8,362,007 compared to $15,737,570 in the same period last year[153]. Cost Management - Cost of revenue decreased by $1,864,452 or 64%, leading to a gross profit margin increase to approximately 74% from 61% in the same period last year[144]. - Cost of revenue for the six months decreased by $3,283,206 or 57%, with a gross profit margin increase to 71% from 64% in the same period last year[154]. - Sales and marketing expenses decreased by $536,311 or 36% due to a reduction in unnecessary agency expenses[145]. - Distribution costs decreased by $1,223,790 or 49%, primarily related to the decline in recommerce revenue[146]. - General and administrative expenses decreased by $35,749 or 2%, with expectations for continued declines in future periods[147][148]. Financial Position - The company had cash of $406,347 as of December 31, 2024, a decrease of $255,068 from June 30, 2024, primarily due to operating losses and increases in accounts receivable and inventory[161]. - Management expects to finance operating costs over the next twelve months through existing cash, cash flow from operations, and potential short-term debt financing if necessary[167]. - The company has no off-balance sheet arrangements that materially affect its financial condition or results of operations[169]. Strategic Outlook - Management has determined that additional capital will be required in the near term to support its strategic plan[170]. - The financial statements have been prepared assuming the company will continue as a going concern, indicating confidence in asset realization and liability satisfaction[170]. Loss Performance - The net loss for the three months ended December 31, 2024, was $1,301,310, a decrease from a loss of $2,438,919 in the same period last year[151].

Financial Results - The company announced its financial results for the year ended June 30, 2024, and the first quarter ending September 30, 2024[8]. - The company has filed its Annual Report on Form 10-K for the year ended June 30, 2023, and Quarterly Reports on Form 10-Q for the periods ended September 30, 2023, December 31, 2023, and March 31, 2024[4]. Compliance and Regulations - The company regained compliance with Nasdaq Listing Rule 5250(c)(1) as of December 20, 2024[8]. - The company is classified as an emerging growth company under the Securities Act of 1933[15]. - The report does not include any written communications or soliciting materials under the Exchange Act[9]. - The company has not indicated any changes in its financial accounting standards compliance transition period[16]. Forward-Looking Statements - The financial statements and exhibits are subject to forward-looking statements, which include risks and uncertainties that could materially affect future results[4]. Executive Information - The company’s Chief Financial Officer, Andrew J. Norstrud, signed the report on December 23, 2024[20]. - The company’s principal executive offices are located at 3030 N. Rocky Point Drive, Suite 420, Tampa, FL 33607[21]. - The report includes a press release dated December 23, 2024, which is attached as Exhibit 99.1[17].

Revenue Performance - Revenue for the three months ended September 30, 2024, decreased by $3,918,175 or 47% to $4,356,515 compared to $8,274,690 in the same period last year[160]. Cost Management - Cost of revenue decreased by $1,418,754 or 50% compared to the same period last year, with gross margin remaining stable with less than a 2% change[161]. - Sales and marketing expenses decreased by $775,277 or 43% compared to the same period last year, primarily due to the reduction of unnecessary agency expenses[162]. - Distribution costs decreased by $676,167 or 32% compared to the same period last year, attributed to the decline in recommerce revenue[163]. - General and administrative expenses decreased by $210,660 or 13% compared to the same period last year, with expectations for continued declines post-December 31, 2024[165]. - Other operating expenses decreased by $957,965 or 71% compared to the same period last year, mainly due to changes in amortization of acquired intangible assets[166]. Financial Loss - The company reported a net loss of $1,625,577 for the three months ended September 30, 2024, compared to a loss of $1,333,388 for the same period in 2023[168]. Asset and Liability Overview - As of September 30, 2024, current assets were $6,790,280, down from $11,419,918 as of June 30, 2024, while current liabilities decreased to $9,771,401 from $12,655,152[169]. Cash Flow and Working Capital - Net cash provided by investing activities for the three months ended September 30, 2024, was $5,838,106, significantly higher than $145,324 in the same period last year[174]. - The company estimates sufficient working capital to fund operations over the next twelve months and meet all debt obligations[176].

Financial Performance - For the fiscal year ended June 30, 2024, the company's revenue decreased by $10,441,043 or 29% to $26,000,652 compared to $36,441,695 in 2023[167]. - Product sales declined approximately $15,400,000 or 42% year-over-year, primarily due to decreased sales through third-party channels like Amazon[167]. - Gross profit decreased by $8,195,401 or 39%, with gross margin declining by 8.36% to 49.32% from 57.68%[169]. - The company reported a net loss attributable to Upexi, Inc. of $23,658,438 for the year ended June 30, 2024, compared to a net loss of $16,930,289 in 2023[167]. - Revenue for the year ended June 30, 2024, was $26,000,652, a decrease of 28.7% from $36,441,695 in the previous year[241]. - Gross profit decreased to $12,824,579, down 38.5% from $21,019,980 year-over-year[241]. - The net loss attributable to Upexi, Inc. was $23,658,438, compared to a loss of $16,930,289 in the previous year, representing a 39.5% increase in losses[243]. - Basic loss per share from continuing operations was $(24.60), compared to $(15.56) in the prior year[243]. - Operating expenses totaled $35,287,018, an increase from $33,300,703 year-over-year[241]. Cash Flow and Liquidity - Cash flows used in operating activities for continuing operations were $(4,894,751), an improvement from $(7,421,529) in the prior year[185]. - The company had cash of $661,415 as of June 30, 2024, reflecting a decrease of $3,830,877 from the previous year[185]. - Net cash provided by investing activities for the year ended June 30, 2024, was $831,112, compared to a use of $23,271 in 2023[187]. - The company had a net cash decrease of $4,417,428 from continuing operations, compared to a decrease of $1,411,899 in the prior year, indicating worsening cash flow[247]. - Cash used in operating activities from continuing operations was $4,894,751, an improvement from $7,421,529 in the prior year, indicating a 34.5% reduction in cash outflow[247]. Assets and Liabilities - Current assets decreased to $11,419,918 as of June 30, 2024, down from $30,012,984 in 2023, while current liabilities decreased to $12,655,152 from $22,391,587[182]. - Total assets decreased to $23,511,088 from $63,801,488, indicating a substantial reduction in overall asset base[239]. - Total current liabilities increased to $12,655,152 from $22,391,587, reflecting rising short-term obligations[239]. - Total liabilities and stockholders' equity amounted to $23,511,088, down from $63,801,488 in the prior year[241]. - The company reported a deferred revenue of $235,255, indicating future revenue recognition[239]. Impairments and Write-offs - The company recognized an impairment of intangible assets and goodwill of $7,869,425, primarily related to the exit from the recommerce business[177]. - The Company recognized an impairment of goodwill related to Cygnet of $3,594,745 at June 30, 2024, due to the strategic decision to exit the recommerce business[206]. - An impairment of intangible assets of $4,274,680 was recognized for the year ended June 30, 2024, including $974,680 related to LuckyTail and $3,300,000 related to Cygnet[217]. - The company wrote off inventory valued at $1,812,319 for the year ended June 30, 2024, compared to $118,990 for the previous year[330]. Acquisitions and Strategic Initiatives - The company acquired 55% of Cygnet Online, LLC for a total consideration of $5,515,756, which included cash, convertible notes, and common stock[313]. - The company completed the acquisition of the remaining 45% interest in Cygnet for structured cash payments totaling $800,000 and additional shares valued at $162,727[316]. - The acquisition of Cygnet is expected to enhance the company's operations as an Amazon and eCommerce seller, focusing on over-the-counter supplements and beauty products[317]. - Upexi, Inc. is focusing on strategic acquisitions to enhance its portfolio and market position[241]. Compliance and Governance - On October 17, 2024, the Company received a Compliance Notice from Nasdaq confirming it regained compliance with the minimum bid price requirement, with a closing bid price of $1.00 per share or greater from October 3 to October 16, 2024[225]. - The independent auditor confirmed that the consolidated financial statements present fairly the financial position of the Company as of June 30, 2024, and 2023, in accordance with U.S. GAAP[233]. - The Company has been audited by GBQ Partners LLC since 2024, ensuring compliance with PCAOB standards[237]. - The Company’s management is responsible for the consolidated financial statements, while the auditor's role is to express an opinion based on the audit[234]. Stock and Shareholder Information - A reverse stock split at a rate of 1-for-20 was effective as of October 3, 2024, resulting in the reclassification of $19,860 from Common Stock to Additional Paid-in-Capital[222]. - The reverse stock split did not alter any stockholder's percentage interest in the Company's Common Stock, and no fractional shares were issued[223]. - For the year ended June 30, 2024, the total potential dilutive weighted average shares outstanding decreased to 295,133 from 324,750 in the previous year[307]. Inventory Management - As of June 30, 2024, the Company reported $465,535 in raw materials and $966,021 in finished goods inventory, compared to no raw material inventory and $4,804,299 in finished goods inventory as of June 30, 2023[221]. - The Company had inventory reserves of $605,470 and $154,400 for the years ended June 30, 2024 and 2023, respectively, indicating a significant increase in reserves[221]. - Inventory write-offs increased significantly to $1,812,319 from $118,990 in the previous year, reflecting challenges in inventory management[247]. Lease and Facility Information - The Company entered into a lease agreement for approximately 10,000 square feet of warehouse and office space at $20,060 per month, expected to reduce overall facility costs by approximately $240,000 in rent[192]. - The company moved into a new distribution center in Tampa, Florida, in July 2023, with lease expenses recognized at approximately $374,500 for the year ended June 30, 2024[346]. - The total lease cost for the year ended June 30, 2024, was $1,624,556, an increase from $1,075,036 in the previous year[354].