Monitor the trajectory of bitcoin market price and its impact on future GAAP earnings. The daily SATA dividend structure creates a fixed cash obligation that must be serviced. Focus on the bitcoin-per-share accretion (Bitcoin Yield 23.9% in Q2) versus the preferred stock dilution from the 7.8M SATA shares outstanding, which grew significantly from 4.4M at Q1 end.
Price Chart
Executive Summary
Strive, Inc. reported Q2 2026 financial results showing a GAAP net loss of $257.6M, primarily driven by $234M in unrealized losses on bitcoin and STRC Stock holdings. The company continued its bitcoin accumulation strategy, acquiring 6,236 bitcoin in Q2, and remains debt-free with zero margin requirements. SATA preferred stock began paying daily dividends on June 16, 2026, at a 13.00% annualized rate.
Key Financial Metrics
Key Facts
- GAAP net loss of $257.6 million for Q2 2026, with $234.0 million (94.1%) attributable to fair market value decrease of bitcoin and STRC holdings
- Non-GAAP adjusted net loss attributable to common stockholders of $275.0 million, or $3.65 per diluted share
- Acquired 6,236 bitcoin in Q2 2026 (12,237 YTD), bitcoin treasury now totals at least 15,009 bitcoin
- Bitcoin Yield of 23.9% for Q2 2026 and 37.7% year-to-date
- Zero debt outstanding as of August 7, 2026; cash and equivalents of $154.9 million
- SATA preferred stock began paying daily cash dividends on June 16, 2026 at 13.00% annualized rate; 44 consecutive dividends paid through August 7
- Total revenue of $2.94 million for Q2 2026, up from $1.51 million in Q2 2025 (predecessor period)
Financial Impact
GAAP net loss of $257.6M, non-GAAP adjusted net loss attributable to common stockholders of $275.0M ($3.65/share); revenue of $2.94M
Risk Factors
- Continued bitcoin price volatility drives GAAP losses through fair value accounting
- Preferred stock dividend obligations (13.00% on $783M liquidation preference) create ongoing cash drain
- Massive share dilution: Class A common shares outstanding more than doubled year-over-year (72.2M vs 34.9M at Dec 2025)
- Operating cash burn: employee compensation ($16.3M in Q2) far exceeds total revenue ($2.9M)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-054984 |
| Document: asst-20260810.htm | 0001628280-26-054984 |
| Document: 0001628280-26-054984-index-headers.html | 0001628280-26-054984 |
| Document: 0001628280-26-054984-index.html | 0001628280-26-054984 |
| Document: 0001628280-26-054984.txt | 0001628280-26-054984 |
| 8-K Data (Synthetic) | 0001628280-26-054984 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $28.50 | awaiting T+5 | — | $26.32 (−7.65%) |
Oct 26, 2026 today | 8-K | — | awaiting T+5 | — | — |
Oct 26, 2026 today | 424B5 | — | awaiting T+5 | — | — |
Oct 21, 2026 5d ago | 8-K | $30.75 | awaiting T+5 | — | $26.32 (−14.41%) |
Oct 20, 2026 6d ago | Press Release | $27.06 | awaiting T+5 | — | $26.32 (−2.73%) |
Oct 20, 2026 6d ago | 8-K | $27.06 | awaiting T+5 | — | $26.32 (−2.73%) |
Oct 19, 2026 7d ago | 8-K | $25.54 $26.32 | ▲ +3.05% | ▲ +3.20% | $26.32 (+3.05%) |
Oct 16, 2026 10d ago | 424B5 | $25.54 $26.32 | ▲ +3.05% | ▲ +3.20% | $26.32 (+3.05%) |
Oct 16, 2026 10d ago | 8-K | $24.09 $28.97 | ▲ +20.26% | ▲ +20.69% | $26.32 (+9.26%) |
Oct 14, 2026 12d ago | 8-K | $24.68 $30.75 | ▲ +24.59% | ▲ +24.14% | $26.32 (+6.65%) |
US Market Status
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