Upexi (NASDAQ:UPXI) reported higher fiscal third-quarter revenue but a large net loss tied primarily to unrealized losses on its Solana holdings, as management said a weak crypto market weighed on both token prices and industry valuation multiples during the quarter ended March 31, 2026.
Chief Executive Officer Allan Marshall said the quarter was marked by “a challenging environment,” citing a decline in the price of Solana and industry multiples. He said Solana fell to an intra-quarter low of about $77 before rebounding to $96 at the time of the call, while Upexi’s valuation multiple also recovered from lows and was “now sitting above NAV” on the company’s fully loaded measure.
