180 Life Sciences (US:ATNF)2025-11-14 13:01Financial Performance - ETHZilla generated $4.1 million in revenue during the first six weeks of operation as ETHZilla, with a gross profit of $4.1 million[1][5] - The company reported a net loss from continuing operations of $208.7 million, primarily due to one-time non-cash items[7] - Adjusted EBITDA for the quarter was $8.5 million, indicating positive operational performance despite the net loss[7] - For the nine months ended September 30, 2025, the net loss from continuing operations was $212,008 thousand, compared to a net loss of $1,659 thousand for the same period in 2024[16] - The company reported an EBITDA of $(211,688) thousand for the nine months ended September 30, 2025, compared to $(1,630) thousand for the same period in 2024[17] - Adjusted EBITDA for the nine months ended September 30, 2025, was $5,810 thousand, compared to $(1,355) thousand for the same period in 2024[17] - Net cash used in operating activities was $(18,419) thousand for the nine months ended September 30, 2025, compared to $(546) thousand for the same period in 2024[16] - The company used $(252,370) thousand in investing activities for the nine months ended September 30, 2025, with significant purchases of digital assets totaling $(243,480) thousand[16] - Net cash provided by financing activities was $825,123 thousand for the nine months ended September 30, 2025, compared to $(1,010) thousand for the same period in 2024[16] - The cash, cash equivalents, and restricted cash at the end of the period was $558,901 thousand, up from $150 thousand at the end of the same period in 2024[16] Capital and Investments - The company secured approximately $931 million in institutional capital through various financings, including a $425 million PIPE and a $360 million convertible note[3] - A strategic partnership with Liquidity.io was established, including a $15 million investment and a 15% equity stake in Satschel, Inc., aimed at tokenizing high-value real-world assets[3] - A share repurchase program was initiated, with 2,099,472 shares repurchased for $46.3 million under a $250 million authorization[6] - The company plans to continue opportunistic share repurchases and expects revenue-generating real-world assets on-chain in the coming weeks[6] - The company plans to continue purchasing ETH over time as part of its digital asset treasury strategy[25] Asset Management - ETHZilla's ETH holdings amounted to 102,273 ETH, valued at $424 per ETH, with 70% of ETH deployed in staking protocols[8] - ETHZilla's total assets as of September 30, 2025, were $1.009 billion, with total liabilities of $564.2 million[14] Future Outlook - The company anticipates positive adjusted EBITDA in the fourth quarter and expects L2 protocol yield to range between 3.5% and 4.5%[6] - The financial projections are based on numerous assumptions and are subject to significant uncertainties, which may materially impact actual results[23] - The company emphasizes that forward-looking statements are subject to risks and uncertainties, including fluctuations in the market price of ETH and regulatory changes[25]