Financial 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 was $212,008, compared to a net loss of $1,659 for the same period in 2024[16] - EBITDA for the nine months ended September 30, 2025, was $(211,688), while Adjusted EBITDA was $5,810, compared to $(1,630) and $(1,355) respectively for the same period in 2024[17] - The company reported net cash used in operating activities of $(18,419) for the nine months ended September 30, 2025, compared to $(546) for the same period in 2024[16] - Cash flows from investing activities totaled $(252,370) for the nine months ended September 30, 2025, with purchases of digital assets amounting to $(243,480)[16] - Net cash provided by financing activities was $825,123 for the nine months ended September 30, 2025, compared to $(1,010) for the same period in 2024[16] - The company ended the period with cash, cash equivalents, and restricted cash totaling $558,901, up from $150 at the end of the same period in 2024[16] - Stock-based compensation expense for the nine months ended September 30, 2025, was $208,923, compared to $275 for the same period in 2024[17] 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 million, with 70% of ETH deployed in staking protocols[8] - The company anticipates positive adjusted EBITDA in the fourth quarter and expects L2 protocol yield to range between 3.5% and 4.5%[6] - ETHZilla aims to lead the tokenization of global assets, positioning itself as a first mover in the multi-trillion-dollar tokenized asset economy[2] Risks and Projections - The financial projections are based on numerous assumptions and are subject to significant uncertainties, which may materially impact actual results[23] - Forward-looking statements indicate potential risks including fluctuations in the market price of ETH and regulatory changes affecting the cryptocurrency market[25]
180 LIFE SCIENCE(ATNFW) - 2025 Q3 - Quarterly Results