Avax One Technology Ltd. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on November 12, 2026, reporting quarterly operating income of $52.4 million driven by a large unrealized gain on digital assets.

Key Highlights

  • Quarterly operating income: The company reported operating income of $52,427 thousand for the three months ended September 30, 2026, compared to an operating loss of $2,611 thousand in the same period of 2025.
  • Unrealized gain on digital assets: An unrealized gain of $55,133 thousand on the market valuation of digital assets was recorded in Q3 2026, compared to a gain of $1 thousand in Q3 2025.
  • Nine-month operating loss: For the nine months ended September 30, 2026, the company reported an operating loss of $25,521 thousand, versus a loss of $5,958 thousand for the same period in 2025.
  • Revenue growth: Revenue was $2,445 thousand for Q3 2026, up from $526 thousand in Q3 2025; nine-month revenue was $7,773 thousand, compared to $1,251 thousand a year earlier.
  • Digital assets: Non-current digital assets stood at $138,784 thousand as of September 30, 2026, down from $153,670 thousand at December 31, 2025.
  • Shares outstanding: As of November 12, 2026, the company had 9,480,988 common shares outstanding, reflecting a 1:12 reverse stock split effected on June 15, 2026.
  • Accumulated deficit: The accumulated deficit increased to $125,605 thousand at September 30, 2026, from $93,977 thousand at December 31, 2025.

Avax One Technology's Q3 2026 Financial Results: Digital Asset Swings Drive Outcomes

According to the filing, Avax One Technology Ltd. (NASDAQ:AVX) reported quarterly revenue of $2,445 thousand for the three months ended September 30, 2026, a significant increase from $526 thousand in the comparable 2025 quarter. The company disclosed total assets of $167,973 thousand at September 30, 2026, compared to $194,963 thousand at December 31, 2025, with total shareholders' equity of $165,298 thousand versus $186,976 thousand at year-end 2025.

The filing shows that the dominant factor in Q3 2026 operating results was an unrealized gain of $55,133 thousand on the market valuation of digital assets, which resulted in total operating expenses of negative $49,982 thousand and produced operating income of $52,427 thousand for the quarter. By contrast, for the nine months ended September 30, 2026, the company reported an unrealized loss on digital asset market valuation of $10,924 thousand, contributing to a nine-month operating loss of $25,521 thousand. The filing also disclosed an impairment of liquid staking tokens of $3,740 thousand and a realized loss on digital asset transactions of $5,800 thousand for the nine-month period.

On the balance sheet, the company reported cash and cash equivalents of $8,476 thousand at September 30, 2026, down from $22,135 thousand at December 31, 2025. New balance sheet items as of September 30, 2026 included restricted cash of $2,126 thousand, liquid staking tokens of $4,726 thousand, and staking rewards receivable of $2,212 thousand, none of which appeared at December 31, 2025. The filing noted that share figures reflect the 1:12 reverse stock split effected on June 15, 2026, with 10,480,381 shares issued and 9,746,196 shares outstanding as of September 30, 2026.

What Was Disclosed

Avax One Technology Ltd. filed its quarterly report covering the period ended September 30, 2026, disclosing revenue, operating results, balance sheet data, and share count information, with digital asset valuation changes representing the primary driver of period-over-period differences in operating income and loss.