Upexi, Inc.

Good day and welcome to UPEXI Incorporated Fiscal Fourth Quarter 2026 Financial Results Conference Call. Please note this event is being recorded. I would now like to turn the conference over to Walter Pinto, Managing Director of KCSA Strategic Communications. Please go ahead.

Thank you, Operator. Good evening and welcome everyone to the UPEXI Fiscal Fourth Quarter and Full Year 2026 Financial Results Conference Call. I'm joined today by Allan Marshall, Chief Executive Officer, Andrew Norstrud, Chief Financial Officer, and Brian Rudick, Chief Strategy Officer. Before I begin, I'm going to remind everyone that statements made during today's conference call may be deemed forward-looking statements within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995. Actions will ultimately differ materially due to a variety of risks, uncertainties, and other factors. For a detailed discussion of some of the ongoing risks and uncertainties in the company's business, I'll refer you to the press release issue this evening and filed with the SEC on Form 8K, as well as the company's reports filed periodically with the SEC. The company claims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law. In addition, during the course of the call, we may refer to non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States. and they may be different from non-GAAP financial measures used by other companies. The reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures are contained in our earnings release issued this evening, unless otherwise noted. I'd now like to turn the call over to UPEXI CEO, Allan Marshall.

Thank you, Walter, and welcome everyone to our fiscal fourth quarter 2026 earnings conference call. Our fiscal quarter ending June 30th, 2026 marks not only the end of our fiscal year, but also the one-year anniversary of our Solana Treasury Strategy. As such, I wanted to start with a brief review. We first embarked on our Solana Treasury Strategy in April 2025 as it became apparent that the U.S. administration and its agencies were turning from a headwind to a tailwind for digital assets. To bootstrap the strategy, we completed what we believe to be the first large-scale equity raise for an altcoin treasury. raising $100 million and kick-starting the digital asset treasury company trend in the U.S. We followed with a second highly accretive raise in July 2025, taking in an additional $200 million and including, we believe, the first-in-kind convertible note, again demonstrating our innovation within the capital markets. Turning to the quarter, April, May, and June were characterized by a subdued market environment for digital assets and no volatile, So I want to generally trend it lower throughout the quarter. During this bear market, we focused on what we could control. Management works to fortify the balance sheet with debt reductions and increasing capital on hand using our ATM. Secondly, we dramatically reduced expenses and streamlined our business to create a very predictable expense profile. On the balance sheet front, we spent the quarter focused on a number of initiatives to strengthen our financial position. We used some of the ATM proceeds to increase our cash position, which totaled $5.8 million as of June 30th, up 65% from the prior quarter end. Separately, in June, we extinguished roughly $20 million in debt. And subsequent to quarter end, we refinanced our existing credit facility, moving the interest rate from 11.5% to 7.5%, and reducing the amount of collateral required for the line. All in, we are in a much stronger position and ready for any market environment that may come. On expense management, we successfully completed our efficiency initiative, which included outsourcing our manufacturing, warehousing, and logistics operations, and reducing full-time employees from 59 a year ago to just 10 today. As previously guided, we expect these efforts to show up in the current quarter ending September 30th, and specifically for our staking revenue to more than cover our ongoing cash expenses on a go-forward basis. Before concluding, I want to express the fact that this is just our first year, and while the crypto market has not been what we hoped for, we believe it's still in the early innings. The market will turn up again, and when the bull market returns, which it will, the opportunities to create value will be abundant and the premiums will return. The work we have done this year will amplify the capitalization of those as we execute upon them. With that, I'd like to turn the call over to our Chief Strategy Officer, Brian Rudick.