assetentities(ASST) - 2025 Q3 - Quarterly Results

Financial Performance - Strive, Inc. reported a GAAP net loss of $192.3 million, or $0.22 per diluted common share, for the period from September 12, 2025, to September 30, 2025[6]. - The non-GAAP adjusted net loss was $13.0 million, or $0.01 per diluted common share, for the same period[6]. - The company reported a net loss of $192.287 million for the period, compared to a net loss of $26.990 million in the previous period, reflecting a significant increase in losses[12]. - Non-GAAP adjusted net loss was reported at $12.981 million, compared to a loss of $4.043 million in the previous period, highlighting a worsening financial position[15]. - Net loss per diluted common share was $0.22, a significant increase from $11.74 in the prior period, indicating a deteriorating earnings situation[15]. - Total operating expenses amounted to $19.477 million, up from $16.081 million in the prior period, indicating a rise of approximately 14%[12]. - The company incurred transaction costs of $7.484 million, which were lower than the $10.280 million reported in the previous period[15]. - Goodwill and intangible asset impairment amounted to $140.785 million, reflecting substantial write-downs in asset values[15]. Asset Management and Holdings - The company accumulated 5,886 Bitcoin at a total cost of $683.0 million, with a fair value of $672.9 million as of September 30, 2025, and increased holdings to 7,525 Bitcoin by November 7, 2025[6]. - The company aims to maximize shareholder value and accumulate Bitcoin, positioning itself as a Bitcoin treasury company[16]. - The company launched a Bitcoin treasury dashboard on its website to provide ongoing information about market prices, Bitcoin purchases, and holdings[6]. Financing and Capital Structure - Strive, Inc. raised $762.6 million through PIPE financing and warrant exercises, with an additional potential of $736.6 million from remaining warrants[6]. - The company completed a public offering of 2,000,000 shares of Variable Rate Series A Perpetual Preferred Stock at $80.00 per share, generating net proceeds of approximately $149.3 million[6]. - The total assets of Strive, Inc. reached $792.6 million as of September 30, 2025, compared to $28.2 million as of December 31, 2024[7]. Strategic Transactions - Strive entered into a merger agreement to acquire Semler Scientific, Inc., which is expected to enhance shareholder value through synergies with Strive's Bitcoin strategy[4]. - Forward-looking statements indicate potential risks related to the integration of the proposed transaction with Semler Scientific, including possible delays and cost overruns[18]. - Strive and Semler Scientific are involved in a proposed transaction, with details on their directors and executive officers' interests to be included in the SEC filings[25]. - The ownership information of Semler Scientific's common stock by its directors and executive officers is detailed in Strive's Form S-4 and Semler's Current Report on Form 8-K[25]. - Additional ownership information for Strive's directors and executive officers is available in their SEC filings on Forms 3 or 4[26]. Revenue Performance - Total revenues for the third quarter were $255,000, a significant decrease from $1.3 million in the prior period[9]. Future Outlook - Management forecasts a single-digit million-dollar loss to a single-digit million-dollar income for its asset management operating business in 2026[6].