Revenue: As of FY2026 Q2, the actual value is USD 62.37 K.

EPS: As of FY2026 Q2, the actual value is USD -15.27.

EBIT: As of FY2026 Q2, the actual value is USD -34.18 M.

Revenue and Net Loss

StablecoinX Inc. reported revenue of $62,372 for the three months ended June 30, 2026, and $63,038 for the six months ended June 30, 2026, both derived from Infrastructure Services. The company experienced a net loss of - $34,180,809 for the three months and - $34,624,180 for the six months ended June 30, 2026. This resulted in a net loss per share of - $15.27 for the three months and - $23.50 for the six months ended June 30, 2026.

Operating Expenses

Total operating expenses were $36,428,181 for the three months ended June 30, 2026, and $36,872,218 for the six months ended June 30, 2026. Key components for the three months included cost of revenue at $24,804, selling, general and administrative expenses at $175,843, and research and development at $24,804. A significant expense was the impairment of digital intangible assets, totaling $36,201,740 for both the three and six months ended June 30, 2026. Loss from operations was - $36,365,809 for the three months and - $36,809,180 for the six months ended June 30, 2026.

Assets and Liabilities

As of June 30, 2026, StablecoinX Inc. reported total assets of $232,559,178, which included $18,856,144 in cash and $212,918,841 in digital intangible assets. Total liabilities amounted to $18,292,004, with current liabilities being $13,577,004. The company also had a warrant liability of $4,715,000.

Cash Flow from Operating Activities

Net cash used in operating activities was - $81,680 for the six months ended June 30, 2026. This was primarily influenced by the net loss of - $34,624,180, offset by non-cash adjustments such as impairment of digital assets ($36,201,740) and changes in fair value of warrant liabilities (- $2,185,000).

Cash Flow from Financing Activities

Net cash provided by financing activities totaled $18,919,116 for the six months ended June 30, 2026. This included $18,852,116 from merger and PIPE financing. The cash balance at the end of the period, June 30, 2026, was $18,856,144.

ENA Treasury and Other Operational Metrics

StablecoinX Inc. built an ENA treasury of approximately 3.0 billion tokens by the end of the second quarter of 2026, valued at $218.4 million as of June 30, 2026. The company’s Decentralized Verifier Node (DVN) surpassed $3.0 billion in cumulative verified cross-chain volume since inception, verifying over 10,000 cross-chain messages as of August 12, 2026. StablecoinX Inc. launched the initial phase of its Harness middleware platform on July 2, 2026, and signed its first client on July 10, 2026.

Outlook

StablecoinX Inc. plans to launch its Distribution Services segment in 2027, subject to market and regulatory conditions, to provide investors with indirect exposure to USDe. The company’s three business lines—Infrastructure Services, Infrastructure Software, and Distribution Services—are designed to expand the access, utility, and network effects of Ethena digital dollar products. This strategy aims to enhance growth opportunities within the Ethena ecosystem.