FRMO Corp. Announces Fiscal 2026 First Quarter Results and Conference Call

Core Insights - FRMO Corp. reported a net loss of $15.9 million for the first quarter of fiscal 2026, a significant decline compared to a net income of $34.5 million in the same quarter of the previous year [4][5]. Financial Highlights - Total book value as of August 31, 2025, was $590.4 million, down from $651.2 million at the end of the previous fiscal year [2]. - Equity attributable to shareholders was $337.2 million ($7.66 per share) as of August 31, 2025, compared to $353.0 million ($8.02 per share) at the end of the previous fiscal year [2]. - Current assets decreased to $409.4 million from $471.8 million, while total liabilities decreased to $58.7 million from $62.2 million [3]. Income Statement Overview - Total revenue for the quarter was a loss of $62.3 million, compared to a revenue of $111.2 million in the same quarter of the previous year [13]. - Unrealized losses from equity securities amounted to $58.1 million, contrasting with unrealized gains of $88.4 million in the prior year [13]. - The diluted loss per share was $0.36, compared to a diluted income per share of $0.78 in the same quarter of the previous year [13]. Investment and Ownership Structure - The company held a 21.80% equity interest in Horizon Kinetics Hard Assets LLC as of August 31, 2025 [8]. - FRMO owns 4.42% of Horizon Kinetics Holding Corporation and earns advisory fees primarily from this entity [8]. Future Outlook - The company is exploring new ways to expand its digital assets mining operations, indicating a focus on growth despite current losses [7].