<span item_type="fundamental" item_id="118687f1df6be683947a9743cbc662de" counter_id="ST/US/ANY" env="prod"></span><span item_type="announcement" item_id="648750514280335233" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 1.916 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -1.18.</p><p></p><h3>Operational Metrics</h3><h4>Bitcoin Production</h4><p>Sphere 3D Corp. produced 25.3 Bitcoin for the first quarter of 2026, a decrease from 30.5 Bitcoin in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Bitcoin Asset Balance</h4><p>As of March 31, 2026, Sphere 3D Corp. held a self-mined balance of 26.2 Bitcoin.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h3>Financial Results (Three Months Ended March 31)</h3><h4>Revenue</h4><p>Revenue for the first quarter of 2026 was $1.9 million, compared to $2.8 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span> This decrease was primarily due to a decrease in the fair value of Bitcoin during the period and temporarily reduced active mining capacity during a fleet refresh.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Operating Costs and Expenses</h4><p>Total operating costs and expenses for the first quarter of 2026 decreased to $6.0 million, from $8.0 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>General and administrative expenses were reduced by approximately 23% to $2.5 million in the first quarter of 2026, down from $3.2 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>Cost of Bitcoin mining revenue (exclusive of depreciation and amortization) was $1,603 thousand in Q1 2026, down from $2,194 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>Depreciation and amortization was $1,145 thousand in Q1 2026, down from $1,606 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>Loss on disposal of property and equipment was $241 thousand in Q1 2026, down from $808 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>Change in fair value of Bitcoin was $606 thousand in Q1 2026, compared to $228 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Investment Loss</h4><p>Investment loss was nil in the first quarter of 2026, compared to -$3.7 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Loss from Operations</h4><p>Loss from operations decreased to -$4.1 million in the first quarter of 2026, compared to -$5.2 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Net Loss</h4><p>Net loss was -$4.1 million for the first quarter of 2026, compared to -$8.8 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h3>Balance Sheet Data (in thousands of U.S. dollars)</h3><h4>Cash and cash equivalents</h4><p>As of March 31, 2026: $3,145.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $3,707.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Bitcoin (asset)</h4><p>As of March 31, 2026: $1,785.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $3,263.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Total current assets</h4><p>As of March 31, 2026: $6,724.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $8,677.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Total assets</h4><p>As of March 31, 2026: $21,739.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $25,120.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Current liabilities</h4><p>As of March 31, 2026: $1,726.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $1,802.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h4>Shareholders’ equity</h4><p>As of March 31, 2026: $19,995.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span>As of December 31, 2025: $23,300.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p><h3>Outlook / Guidance</h3><p>Sphere 3D Corp. is focused on improving the efficiency of its mining operations and building a resilient Bitcoin infrastructure business with greater operational control and flexibility.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span> The proposed combination with Cathedra Bitcoin, Inc. aims to create a scaled digital infrastructure platform.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span> The mining fleet refresh, intended to improve overall efficiency and long-term operating performance, was substantially completed by the end of the first quarter of 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1591956/000106299326002710/exhibit99-1.htm"></span></p>

Sphere 3D | 8-K: FY2026 Q1 Revenue: USD 1.916 M