Nakamoto Inc. filed its Form 10-Q for the fiscal quarter ended September 30, 2026, with the SEC on November 12, 2026, reporting a net income of $85.547 million for the third quarter alongside a net loss of $286.226 million for the nine months ended September 30, 2026.

Key Highlights

  • Q3 net income: Nakamoto Inc. reported net income of $85.547 million for the three months ended September 30, 2026, compared to a net loss of $86.036 million in the same period of 2025.
  • Nine-month net loss: For the nine months ended September 30, 2026, the company reported a net loss of $286.226 million, versus a net loss of $89.488 million for the same period of 2025.
  • Digital assets: Digital assets on the balance sheet totaled $357.916 million as of September 30, 2026, down from $467.550 million as of December 31, 2025.
  • Goodwill impairment: The company recorded an impairment of goodwill of $105.176 million for the nine months ended September 30, 2026.
  • Shares outstanding: As of November 9, 2026, there were 18,346,473 shares of common stock issued and outstanding.
  • Total assets: Total assets were $517.193 million as of September 30, 2026, compared to $730.608 million as of December 31, 2025.
  • Accumulated deficit: The accumulated deficit stood at $346.231 million as of September 30, 2026, versus $60.005 million as of December 31, 2025.

Nakamoto Inc. Q3 2026 Financial Results: Digital Assets, Impairments, and Revenue Mix

According to the filing, Nakamoto Inc. (NASDAQ:NAKA), headquartered in Nashville, Tennessee, reported total operating revenues of negative $1.929 million for the three months ended September 30, 2026, driven primarily by a derivative revenue loss of $5.785 million, partly offset by media revenue of $2.886 million, advisory revenue of $488 thousand, and asset management revenue of $482 thousand. For the nine months ended September 30, 2026, total operating revenues were $36.139 million, with media contributing $27.350 million.

The company disclosed a gain on the change in fair value of digital assets of $110.381 million for Q3 2026, which was a primary driver of the quarter's operating income of $91.923 million. For the nine-month period, however, a loss on change in fair value of digital assets of $40.815 million, combined with the $105.176 million goodwill impairment, contributed to an operating loss of $182.718 million. The filing also disclosed a change in fair value of a call option asset related to a related party of negative $107.744 million for the nine months ended September 30, 2026, included in non-operating expense.

As of September 30, 2026, total stockholders' equity was $324.278 million, down from $514.257 million as of December 31, 2025. Notes payable, net, totaled $104.915 million in current liabilities and $59.957 million in non-current liabilities as of the quarter end. The company disclosed it is classified as a non-accelerated filer, smaller reporting company, and emerging growth company. The filing also noted that common stock figures as of December 31, 2025 were retroactively restated to reflect a reverse stock split described in Note 1 of the accompanying financial statements.

What Was Disclosed

Nakamoto Inc. filed a Form 10-Q for the quarter ended September 30, 2026, disclosing Q3 net income of $85.547 million, a nine-month net loss of $286.226 million, $357.916 million in digital assets, a $105.176 million goodwill impairment, and 18,346,473 shares outstanding as of November 9, 2026.