What is Upexi's operating income?

Upexi's total operating income in 2025 was -$12.50 million, based on the following breakdown: Total Gross Profit: $10.87 million Total Operating Expenses: $23.47 million

Upexi (UPXI) Financials

$0.80 -0.04 (-4.31%)

Closing price 04:00 PM Eastern

Extended Trading

$0.82 +0.02 (+2.29%)

As of 07:35 PM Eastern

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Annual Income Statements for Upexi

This table shows Upexi's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-4.29	-0.18	-8.01	-21	-24	-14
Consolidated Net Income / (Loss)	-5.38	2.98	-8.07	-21	-24	-14
Net Income / (Loss) Continuing Operations	-4.29	-0.13	-5.87	-14	-25	-14
Total Pre-Tax Income	-5.38	1.70	-6.39	-17	-26	-14
Total Operating Income	-4.84	1.43	-6.49	-12	-22	-12
Total Gross Profit	2.57	12	15	21	13	11
Total Revenue	7.41	24	23	36	26	16
Operating Revenue	7.41	24	23	36	26	16
Total Cost of Revenue	4.84	12	8.20	15	13	4.94
Operating Cost of Revenue	4.84	12	8.20	15	13	4.94
Total Operating Expenses	7.41	10	21	30	35	23
Selling, General & Admin Expense	6.04	8.08	9.14	6.88	6.77	12
Marketing Expense	1.37	2.39	5.12	6.07	5.99	4.00
Depreciation Expense	-	-	0.57	0.91	1.27	0.68
Amortization Expense	-	-	0.98	2.57	2.41	0.08
Other Operating Expenses / (Income)	-	-	2.21	9.47	10	7.05
Impairment Charge	-	-	0.00	-	8.50	-0.27
Total Other Income / (Expense), net	0.55	-0.27	0.10	-8.46	-3.14	-1.17
Interest Expense	0.14	0.53	-0.10	4.72	3.12	1.17
Interest & Investment Income	-	-	-	-	-	0.00
Other Income / (Expense), net	-0.41	0.80	-0.00	-3.74	-0.02	0.00
Income Tax Expense	0.00	-1.28	0.52	3.05	-0.33	0.00
Net Income / (Loss) Discontinued Operations	-	-	-1.16	-1.37	1.16	0.00
Basic Earnings per Share	($0.53)	$0.25	($0.43)	($18.94)	($23.03)	($1.73)
Weighted Average Basic Shares Outstanding	10.10M	11.93M	16.22M	893.94K	1.03M	7.91M
Diluted Earnings per Share	($0.53)	$0.21	($0.43)	($18.94)	($23.03)	($1.73)
Weighted Average Diluted Shares Outstanding	10.10M	15.71M	16.22M	893.94K	1.03M	7.91M
Weighted Average Basic & Diluted Shares Outstanding	10.10M	14.26M	-	-	-	58.89M

This table shows Upexi's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.36	-2.44	-7.02	-13	-1.63	-1.30	-3.83	-6.93	67	-179	-109
Consolidated Net Income / (Loss)	-1.82	-3.83	-7.02	-11	-1.63	-1.30	-3.83	-6.93	67	-179	-109
Net Income / (Loss) Continuing Operations	-1.84	-2.95	-4.28	-16	-1.63	-1.30	-3.83	-6.93	67	-179	-109
Total Pre-Tax Income	-2.31	-3.64	-5.79	-14	-1.63	-1.30	-3.83	-6.93	67	-179	-109
Total Operating Income	-1.46	-2.60	-5.04	-13	-1.34	-1.07	-3.59	-6.50	69	-175	-107
Total Gross Profit	5.43	4.57	1.27	1.56	2.93	2.97	1.56	3.40	8.28	6.71	4.35
Total Revenue	8.38	7.42	5.22	5.43	4.36	4.01	3.16	4.29	9.24	8.05	4.56
Operating Revenue	8.38	7.42	5.22	5.43	4.36	4.01	3.16	4.29	9.24	8.05	4.56
Total Cost of Revenue	2.85	2.90	3.96	3.48	1.43	1.03	1.60	0.88	0.96	1.34	0.21
Operating Cost of Revenue	2.85	2.90	3.96	3.48	1.43	1.03	1.60	0.88	0.96	1.34	0.21
Total Operating Expenses	6.89	7.17	6.31	15	4.27	4.05	5.15	10	-61	182	111
Selling, General & Admin Expense	1.58	1.58	1.79	1.82	1.37	1.55	2.64	6.38	9.26	5.52	4.93
Marketing Expense	1.82	1.49	1.28	1.41	1.04	0.95	1.04	0.97	1.07	0.92	0.55
Depreciation Expense	0.28	0.32	0.31	0.37	0.24	0.22	0.20	0.02	0.14	0.13	0.09
Amortization Expense	0.66	0.66	0.66	0.43	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Other Operating Expenses / (Income)	2.13	2.50	2.06	3.66	1.60	1.31	1.25	3.33	6.64	9.57	106
Impairment Charge	-	0.29	0.00	-	-	0.00	0.00	-	-	1.42	0.00
Total Other Income / (Expense), net	-0.47	-1.04	-0.75	-0.88	-0.29	-0.23	-0.24	-0.41	-2.70	-3.56	-2.56
Interest Expense	0.84	1.03	0.74	0.51	0.29	0.23	0.25	0.41	2.70	3.60	3.68
Other Income / (Expense), net	-0.01	-0.01	-0.01	0.01	-	0.00	0.00	-0.00	-	0.04	1.13
Income Tax Expense	0.47	0.69	1.50	-3.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Basic Earnings per Share	($1.34)	($2.00)	($4.03)	($12.51)	-	-	($2.87)	($0.88)	-	-	($1.67)
Weighted Average Basic Shares Outstanding	1.01M	1.02M	1.02M	1.03M	1.05M	1.05M	1.34M	7.91M	55.34M	60.83M	65.51M
Diluted Earnings per Share	($1.34)	($2.00)	($4.03)	($12.51)	-	-	($2.87)	($0.88)	-	-	($1.67)
Weighted Average Diluted Shares Outstanding	1.01M	1.02M	1.02M	1.03M	1.05M	1.05M	1.34M	7.91M	88.48M	60.83M	65.51M
Weighted Average Basic & Diluted Shares Outstanding	20.31M	20.89M	20.72M	0.00	1.04M	1.32M	37.25M	58.89M	59.92M	69.76M	70.26M

This table details how cash moves in and out of Upexi's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	-2.81	14	1.17	-2.66	-3.83	2.31
Net Cash From Operating Activities	-4.16	2.94	-0.18	0.20	-0.10	-8.42
Net Cash From Continuing Operating Activities	-4.16	2.77	0.72	-7.42	-4.89	-8.42
Net Income / (Loss) Continuing Operations	-5.38	2.98	-2.10	-17	-24	-14
Consolidated Net Income / (Loss)	-5.38	2.98	-2.10	-17	-24	-14
Depreciation Expense	0.61	1.03	2.73	3.48	3.68	0.76
Amortization Expense	0.00	0.34	0.00	1.03	1.23	0.03
Non-Cash Adjustments To Reconcile Net Income	0.98	0.39	-1.20	9.18	12	2.56
Changes in Operating Assets and Liabilities, net	-0.37	-1.80	2.36	-4.19	2.25	1.91
Net Cash From Discontinued Operating Activities	-	-	-0.90	7.62	4.79	0.00
Net Cash From Investing Activities	-1.46	-1.28	-11	-2.57	-3.38	-99
Net Cash From Continuing Investing Activities	-1.46	-1.28	-11	-0.02	0.83	-99
Purchase of Property, Plant & Equipment	-1.93	-1.42	-5.45	-0.94	-0.93	-0.39
Acquisitions	0.00	-	5.46	-1.05	-0.54	-105
Sale of Property, Plant & Equipment	0.47	0.08	0.00	-	0.00	4.01
Other Investing Activities, net	-	-	0.00	1.96	2.30	2.00
Net Cash From Discontinued Investing Activities	-	-	0.00	-2.55	-4.21	0.00
Net Cash From Financing Activities	2.82	12	3.70	-0.29	-0.35	110
Net Cash From Continuing Financing Activities	2.82	12	3.70	6.03	-0.35	110
Repayment of Debt	0.00	-0.76	-0.81	-3.46	-0.45	-3.53
Issuance of Debt	2.05	1.75	0.00	4.12	0.10	20
Issuance of Preferred Equity	0.05	0.00	-	-	0.00	0.33
Issuance of Common Equity	0.72	11	-	6.13	0.00	93
Other Financing Activities, net	-	-	-	-0.75	0.00	0.25
Net Cash From Discontinued Financing Activities	-	-	0.00	-6.32	0.00	0.00
Cash Interest Paid	0.00	0.00	0.06	2.28	0.84	0.81
Cash Income Taxes Paid	0.00	0.00	0.66	0.00	0.00	0.00

This table details how cash moves in and out of Upexi's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1.26	-2.66	3.75	-3.66	1.13	-1.38	-0.18	2.74	-0.74	-0.62	1.87
Net Cash From Operating Activities	-3.79	0.19	0.78	2.72	-1.97	-1.38	-0.78	-4.29	-9.78	-2.68	-4.78
Net Cash From Continuing Operating Activities	-2.07	0.34	-1.96	-1.19	-1.97	-1.38	-0.78	-4.29	-9.78	-2.68	-4.78
Net Income / (Loss) Continuing Operations	1.36	-5.15	-4.12	-16	-1.63	-1.30	2.93	-6.93	67	-179	112
Depreciation Expense	0.94	0.84	0.86	1.04	0.26	0.24	0.22	0.04	0.16	0.15	0.11
Amortization Expense	0.39	0.40	0.20	0.25	0.00	-	0.37	-0.34	0.79	0.95	0.95
Non-Cash Adjustments To Reconcile Net Income	0.42	-1.25	2.10	10	0.14	0.03	-5.58	1.21	-78	174	-119
Changes in Operating Assets and Liabilities, net	-2.46	0.92	0.87	2.92	-0.75	-0.36	1.29	1.73	0.84	0.95	1.12
Net Cash From Investing Activities	0.15	-1.05	-0.18	-2.29	5.84	-	-0.08	-105	-30	-6.49	7.88
Net Cash From Continuing Investing Activities	0.15	-0.98	-0.18	1.85	5.84	-	-0.08	-105	-30	-6.49	7.88
Purchase of Property, Plant & Equipment	-0.29	-0.19	-0.18	-0.27	-0.17	-	-0.03	-0.19	-0.01	-0.02	-0.01
Other Investing Activities, net	0.94	-0.79	-	2.16	2.00	-	-0.05	-	0.00	-36	7.89
Net Cash From Financing Activities	-0.33	0.91	-0.94	0.01	-2.73	-	0.68	112	39	8.55	-1.24
Net Cash From Continuing Financing Activities	-0.33	-2.38	-0.94	3.29	-2.73	-	0.68	112	39	8.55	-1.24
Repayment of Debt	-0.06	-0.06	-0.06	-0.27	-2.73	-	-0.07	-0.72	-7.63	-	-11
Repurchase of Common Equity	-	-	-	-	0.00	-	-	-	-2.99	2.19	-6.49
Issuance of Common Equity	-	-	-	-	0.00	-	-	-	50	10	7.47
Other Financing Activities, net	-0.27	0.97	-0.88	0.18	0.00	-	-	0.18	0.01	-3.64	3.74
Cash Interest Paid	0.09	0.52	0.89	-0.67	0.08	0.21	0.03	0.48	1.95	0.56	3.33

This table presents Upexi's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	6.40	27	48	64	24	124
Total Current Assets	2.65	18	17	30	11	57
Cash & Equivalents	0.89	15	7.15	4.49	0.66	2.98
Accounts Receivable	0.17	1.28	0.94	1.13	0.61	0.16
Inventories, net	1.45	2.09	4.73	4.80	1.43	1.15
Prepaid Expenses	0.15	0.39	0.76	1.11	0.50	0.35
Other Current Assets	-	-	0.00	18	8.22	52
Plant, Property, & Equipment, net	1.69	2.83	7.34	2.83	2.36	2.05
Total Noncurrent Assets	2.07	6.13	24	31	9.73	65
Goodwill	0.49	2.41	4.64	2.89	0.85	0.85
Intangible Assets	1.24	1.85	8.76	6.92	0.24	0.16
Noncurrent Deferred & Refundable Income Taxes	0.00	1.40	2.00	5.60	5.95	5.95
Other Noncurrent Operating Assets	0.33	0.47	8.69	0.49	2.70	58
Total Liabilities & Shareholders' Equity	6.40	27	48	64	24	124
Total Liabilities	4.22	6.04	20	36	17	34
Total Current Liabilities	3.52	5.82	10	22	13	33
Short-Term Debt	1.68	0.45	3.87	1.59	0.00	21
Accounts Payable	0.48	1.60	1.57	1.03	0.48	1.04
Accrued Expenses	0.42	1.32	1.31	2.97	1.84	0.36
Current Deferred Revenue	0.47	0.49	-	0.00	0.24	0.01
Current Employee Benefit Liabilities	-	-	-	-	-	3.47
Other Current Liabilities	0.46	1.96	3.37	16	9.63	6.33
Other Current Nonoperating Liabilities	-	-	-	0.66	0.48	0.79
Total Noncurrent Liabilities	0.70	0.22	9.58	14	4.34	1.15
Long-Term Debt	0.37	0.00	8.88	5.97	2.11	0.00
Other Noncurrent Operating Liabilities	0.34	0.22	0.70	7.61	2.23	1.15
Total Equity & Noncontrolling Interests	0.45	21	29	28	6.52	90
Total Preferred & Common Equity	2.18	21	29	28	6.52	90
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.45	21	29	28	6.52	90
Common Stock	7.32	25	35	52	53	151
Retained Earnings	-7.10	-4.17	-6.27	-23	-47	-61

This table presents Upexi's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	65	62	57	19	18	15	420	271	200
Total Current Assets	25	23	17	6.79	6.11	3.97	220	171	122
Cash & Equivalents	0.42	1.84	0.50	1.79	0.41	0.23	2.24	1.62	3.48
Accounts Receivable	9.76	5.38	4.71	0.80	1.16	0.18	0.28	0.59	0.50
Inventories, net	14	15	8.80	1.64	2.24	1.32	1.04	0.73	0.22
Prepaid Expenses	0.96	0.70	0.72	0.39	0.31	0.23	1.48	1.30	0.99
Other Current Assets	0.00	0.00	0.00	2.17	2.00	2.00	215	167	117
Plant, Property, & Equipment, net	7.74	7.60	7.52	2.34	2.14	1.97	1.93	0.54	0.24
Total Noncurrent Assets	33	32	32	9.47	9.28	9.13	197	99	78
Goodwill	12	12	11	0.85	0.85	0.85	0.85	0.67	0.67
Intangible Assets	12	11	9.47	0.22	0.20	0.23	188	0.87	0.86
Noncurrent Deferred & Refundable Income Taxes	6.08	6.77	8.27	5.95	5.95	5.95	5.95	5.95	5.95
Other Noncurrent Operating Assets	2.40	2.10	3.56	2.46	2.28	2.10	1.77	92	71
Total Liabilities & Shareholders' Equity	65	62	57	19	18	15	420	271	200
Total Liabilities	38	37	34	14	14	13	209	222	252
Total Current Liabilities	20	24	24	9.77	11	11	65	78	71
Short-Term Debt	4.26	4.21	5.47	6.76	1.06	0.95	51	64	57
Accounts Payable	4.64	3.02	2.12	0.58	1.00	1.41	2.18	0.67	0.29
Accrued Expenses	4.40	3.15	3.39	1.27	1.06	1.32	4.12	5.08	2.17
Current Deferred Revenue	0.15	0.10	0.11	0.18	0.14	0.02	0.05	0.05	0.00
Current Employee Benefit Liabilities	-	-	-	-	-	-	-	-	4.51
Other Current Liabilities	6.59	14	13	0.54	6.73	6.26	6.16	5.64	4.30
Other Current Nonoperating Liabilities	-	-	0.00	0.45	0.63	0.83	1.55	2.90	2.27
Total Noncurrent Liabilities	18	12	10	3.80	3.15	2.42	144	145	181
Long-Term Debt	2.15	6.62	4.79	1.96	1.31	0.58	143	144	181
Other Noncurrent Operating Liabilities	15	5.82	5.46	1.84	1.84	1.84	1.15	0.46	0.44
Total Equity & Noncontrolling Interests	28	25	22	5.03	3.76	1.85	211	49	-52
Total Preferred & Common Equity	28	25	22	5.03	3.76	1.85	211	49	-52
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	28	25	22	5.03	3.76	1.85	211	49	-52
Common Stock	52	52	53	54	54	55	205	222	230
Retained Earnings	-25	-27	-31	-48	-50	-54	6.20	-173	-282

This table displays calculated financial ratios and metrics derived from Upexi's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
DEI Shares Outstanding	0.00	0.00	16,783,631.00	36,189,496.00	20,889,384.00	37,253,373.00
DEI Adjusted Shares Outstanding	0.00	0.00	839,182.00	1,809,475.00	1,044,469.00	37,253,373.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-9.55	-11.50	-22.65	-0.37
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	225.04%	-4.27%	57.99%	-27.42%	-40.22%
EBITDA Growth	0.00%	177.66%	-204.43%	-206.25%	-52.64%	33.35%
EBIT Growth	0.00%	142.44%	-391.59%	-146.83%	-40.27%	44.39%
NOPAT Growth	0.00%	173.99%	-281.27%	-89.25%	-82.91%	44.35%
Net Income Growth	0.00%	155.32%	-370.79%	-165.00%	-10.68%	42.16%
EPS Growth	0.00%	139.62%	-304.76%	-165.00%	-10.68%	92.49%
Operating Cash Flow Growth	0.00%	170.58%	-106.15%	212.08%	-150.02%	-8,208.71%
Free Cash Flow Firm Growth	0.00%	0.00%	-2,140.69%	122.07%	-221.94%	-1,304.45%
Invested Capital Growth	0.00%	113.45%	339.84%	-47.66%	-48.60%	1,185.56%
Revenue Q/Q Growth	0.00%	0.00%	-14.14%	-47.66%	1,211.20%	-4.18%
EBITDA Q/Q Growth	0.00%	0.00%	-59.15%	-350.22%	-28.19%	41.73%
EBIT Q/Q Growth	0.00%	0.00%	-83.51%	-106.86%	-18.72%	44.38%
NOPAT Q/Q Growth	0.00%	0.00%	59.39%	-58.52%	-48.12%	35.45%
Net Income Q/Q Growth	0.00%	0.00%	-435.02%	-91.60%	22.79%	31.44%
EPS Q/Q Growth	0.00%	0.00%	-437.50%	0.00%	22.79%	89.40%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-103.61%	279.10%	97.91%	-494.16%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	114.23%	-133.19%	-992.84%
Invested Capital Q/Q Growth	0.00%	0.00%	28.31%	-74.22%	-71.60%	2,628.55%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	34.67%	49.38%	64.47%	57.68%	48.49%	68.74%
EBITDA Margin	-62.53%	14.94%	-16.30%	-31.59%	-66.43%	-74.07%
Operating Margin	-65.27%	5.92%	-28.13%	-33.70%	-84.93%	-79.06%
EBIT Margin	-70.78%	9.24%	-28.15%	-43.98%	-84.99%	-79.06%
Profit (Net Income) Margin	-72.64%	12.36%	-34.97%	-58.66%	-89.45%	-86.55%
Tax Burden Percent	100.00%	175.63%	126.28%	126.06%	92.40%	100.00%
Interest Burden Percent	102.64%	76.18%	98.39%	105.81%	113.90%	109.48%
Effective Tax Rate	0.00%	-75.63%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-101.38%	47.86%	-23.60%	-35.98%	-126.53%	-14.97%
ROIC Less NNEP Spread (ROIC-NNEP)	-170.52%	39.41%	37.35%	251.27%	40.54%	-63.58%
Return on Net Nonoperating Assets (RNNOA)	-1,092.18%	-20.36%	-8.63%	-39.45%	-11.21%	-13.36%
Return on Equity (ROE)	-1,193.56%	27.49%	-32.23%	-75.43%	-137.74%	-28.33%
Cash Return on Invested Capital (CROIC)	0.00%	-24.53%	-149.50%	26.59%	-62.33%	-186.10%
Operating Return on Assets (OROA)	-81.95%	13.23%	-17.14%	-28.54%	-51.49%	-16.97%
Return on Assets (ROA)	-84.11%	17.70%	-21.30%	-38.07%	-54.19%	-18.58%
Return on Common Equity (ROCE)	-1,193.56%	27.49%	-32.16%	-75.96%	-139.76%	-28.33%
Return on Equity Simple (ROE_SIMPLE)	-247.08%	14.04%	-28.02%	-75.42%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.39	2.51	-4.54	-8.60	-16	-8.75
NOPAT Margin	-45.69%	10.40%	-19.69%	-23.59%	-59.45%	-55.34%
Net Nonoperating Expense Percent (NNEP)	69.14%	8.45%	-60.95%	-287.25%	-167.07%	48.62%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-24.29%	-182.34%	-7.91%
Cost of Revenue to Revenue	65.33%	50.62%	35.53%	42.32%	49.82%	31.26%
SG&A Expenses to Revenue	81.44%	33.55%	39.63%	18.87%	25.60%	75.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	99.94%	43.46%	92.58%	81.10%	133.41%	148.46%
Earnings before Interest and Taxes (EBIT)	-5.25	2.23	-6.49	-16	-22	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.64	3.60	-3.76	-12	-18	-12
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	24.38	0.64	2.45	1.44	1.16	1.23
Price to Tangible Book Value (P/TBV)	0.00	0.80	4.60	2.20	1.39	3.36
Price to Revenue (P/Rev)	1.48	0.57	3.06	1.12	0.29	7.02
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.64	0.00	2.43	2.63	1.07	1.19
Enterprise Value to Revenue (EV/Rev)	1.64	0.00	3.30	1.19	0.34	8.13
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	213.08	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	6.80	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	4.54	0.02	0.44	0.27	0.32	0.23
Long-Term Debt to Equity	0.81	0.00	0.31	0.21	0.32	0.00
Financial Leverage	6.40	-0.52	-0.23	-0.16	-0.28	0.21
Leverage Ratio	14.19	1.55	1.51	1.98	2.54	1.52
Compound Leverage Factor	14.56	1.18	1.49	2.10	2.90	1.67
Debt to Total Capital	81.95%	2.06%	30.66%	21.36%	24.44%	18.58%
Short-Term Debt to Total Capital	67.34%	2.06%	9.32%	4.50%	0.00%	18.58%
Long-Term Debt to Total Capital	14.61%	0.00%	21.34%	16.86%	24.44%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.13%	-1.43%	0.00%	0.00%
Common Equity to Total Capital	18.05%	97.93%	69.08%	80.07%	75.56%	81.42%
Debt to EBITDA	-0.44	0.12	-3.39	-0.66	-0.12	-1.76
Net Debt to EBITDA	-0.25	-3.91	-1.49	-0.26	-0.08	-1.50
Long-Term Debt to EBITDA	-0.08	0.00	-2.36	-0.52	-0.12	0.00
Debt to NOPAT	-0.61	0.18	-2.81	-0.88	-0.13	-2.35
Net Debt to NOPAT	-0.34	-5.62	-1.23	-0.35	-0.09	-2.01
Long-Term Debt to NOPAT	-0.11	0.00	-1.95	-0.69	-0.13	0.00
Altman Z-Score	-1.70	2.84	2.17	0.06	-4.62	1.32
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.22%	-0.70%	-1.47%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.75	3.14	1.68	1.34	0.90	1.74
Quick Ratio	0.30	2.72	0.80	0.25	0.10	0.10
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1.28	-29	6.35	-7.75	-109
Operating Cash Flow to CapEx	-284.69%	218.84%	-3.32%	21.62%	-10.87%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-2.42	0.00	1.35	-2.48	-92.69
Operating Cash Flow to Interest Expense	-30.09	5.54	0.00	0.04	-0.03	-7.18
Operating Cash Flow Less CapEx to Interest Expense	-40.66	3.01	0.00	-0.16	-0.33	-4.09
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	1.16	1.43	0.61	0.65	0.61	0.21
Accounts Receivable Turnover	44.89	33.40	20.80	35.29	30.54	41.37
Inventory Turnover	3.34	6.88	2.40	3.24	4.23	3.83
Fixed Asset Turnover	4.39	10.66	4.54	7.17	10.20	7.17
Accounts Payable Turnover	10.00	11.68	5.16	11.86	17.45	6.50
Days Sales Outstanding (DSO)	8.13	10.93	17.55	10.34	11.95	8.82
Days Inventory Outstanding (DIO)	109.17	53.02	151.88	112.78	86.37	95.41
Days Payable Outstanding (DPO)	36.50	31.26	70.74	30.78	20.92	56.15
Cash Conversion Cycle (CCC)	80.80	32.69	98.68	92.34	77.41	48.08
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	3.34	7.13	31	16	8.44	108
Invested Capital Turnover	2.22	4.60	1.20	1.53	2.13	0.27
Increase / (Decrease) in Invested Capital	0.00	3.79	24	-15	-7.98	100
Enterprise Value (EV)	12	-0.47	76	43	8.99	129
Market Capitalization	11	14	70	41	7.54	111
Book Value per Share	$0.04	$1.78	$1.71	$1.57	$0.31	$2.42
Tangible Book Value per Share	($0.13)	$1.42	$0.91	$1.02	$0.26	$0.89
Total Capital	2.50	22	42	35	8.62	111
Total Debt	2.05	0.45	13	7.56	2.11	21
Total Long-Term Debt	0.37	0.00	8.88	5.97	2.11	0.00
Net Debt	1.16	-14	5.60	2.98	1.45	18
Capital Expenditures (CapEx)	1.46	1.34	5.45	0.94	0.93	-3.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.07	-1.61	3.66	4.63	-1.90	42
Debt-free Net Working Capital (DFNWC)	0.81	13	11	9.21	-1.24	45
Net Working Capital (NWC)	-0.87	12	6.93	7.62	-1.24	24
Net Nonoperating Expense (NNE)	2.00	-0.47	3.52	13	7.93	4.93
Net Nonoperating Obligations (NNO)	2.89	-14	2.52	-11	1.92	18
Total Depreciation and Amortization (D&A)	0.61	1.37	2.73	4.51	4.91	0.79
Debt-free, Cash-free Net Working Capital to Revenue	-0.99%	-6.70%	15.86%	12.71%	-7.17%	264.36%
Debt-free Net Working Capital to Revenue	10.98%	53.63%	46.86%	25.28%	-4.67%	283.18%
Net Working Capital to Revenue	-11.73%	51.77%	30.06%	20.91%	-4.67%	153.14%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.25	$0.00	($19.20)	($23.03)	($1.73)
Adjusted Weighted Average Basic Shares Outstanding	0.00	11.93M	0.00	893.90K	1.03M	7.91M
Adjusted Diluted Earnings per Share	$0.00	$0.21	$0.00	($19.20)	($23.03)	($1.73)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	15.71M	0.00	893.90K	1.03M	7.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	14.26M	0.00	0.00	0.00	58.89M
Normalized Net Operating Profit after Tax (NOPAT)	-3.39	1.00	-2.21	-6.03	-9.78	-8.94
Normalized NOPAT Margin	-45.69%	4.14%	-9.60%	-16.55%	-36.96%	-56.53%
Pre Tax Income Margin	-72.64%	7.04%	-27.70%	-46.53%	-96.80%	-86.55%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-37.91	4.20	0.00	-3.40	-7.19	-10.65
NOPAT to Interest Expense	-24.47	4.72	0.00	-1.82	-5.03	-7.45
EBIT Less CapEx to Interest Expense	-48.48	1.67	0.00	-3.60	-7.49	-7.57
NOPAT Less CapEx to Interest Expense	-35.04	2.19	0.00	-2.02	-5.33	-4.37
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	24.49%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Upexi's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	36,189,496.00	20,306,870.00	20,889,384.00	20,889,384.00	20,889,384.00	1,040,924.00	1,320,924.00	37,253,373.00	58,888,756.00	-	69,760,581.00
DEI Adjusted Shares Outstanding	1,809,475.00	1,015,344.00	1,044,469.00	1,044,469.00	1,044,469.00	1,040,924.00	1,320,924.00	37,253,373.00	58,888,756.00	-	69,760,581.00
DEI Earnings Per Adjusted Shares Outstanding	-0.75	-2.40	-6.72	-12.30	-1.56	-1.25	-2.90	-0.19	1.13	-	-1.57
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-25.34%	-72.24%	-76.13%	123.19%	-47.98%	-46.04%	-39.49%	-20.98%	112.09%	101.03%	44.19%
EBITDA Growth	90.24%	-281.36%	-283.08%	-47.13%	-655.83%	39.34%	24.80%	43.61%	6,630.52%	-20,802.71%	-3,384.89%
EBIT Growth	38.40%	-53.22%	-136.70%	-36.14%	8.90%	58.89%	28.96%	51.29%	5,279.53%	-16,236.23%	-2,846.01%
NOPAT Growth	38.76%	-52.95%	-136.22%	-120.22%	8.29%	58.74%	28.80%	51.34%	7,499.33%	-16,240.38%	-2,876.84%
Net Income Growth	66.71%	-179.33%	-153.88%	38.85%	10.62%	66.01%	45.41%	37.00%	4,206.12%	-13,649.60%	-2,753.69%
EPS Growth	0.00%	-179.33%	0.00%	38.85%	0.00%	0.00%	28.78%	92.97%	0.00%	0.00%	41.81%
Operating Cash Flow Growth	-50.42%	-96.93%	157.68%	233.87%	47.93%	-837.88%	-199.38%	-257.58%	-395.30%	-93.76%	-513.40%
Free Cash Flow Firm Growth	90.32%	162.51%	174.73%	-112.89%	1,074.94%	21.49%	-23.66%	-7,482.01%	-1,690.46%	-1,467.77%	-1,202.01%
Invested Capital Growth	3.24%	-41.40%	-53.33%	-48.60%	-63.02%	-81.58%	-86.62%	1,185.56%	3,148.25%	3,959.71%	4,558.34%
Revenue Q/Q Growth	135.79%	-11.37%	-29.64%	3.91%	-19.74%	-8.06%	-21.10%	35.70%	115.44%	-12.85%	-43.40%
EBITDA Q/Q Growth	98.27%	-867.38%	-190.51%	-202.25%	91.10%	22.36%	-260.13%	-126.65%	1,130.49%	-348.50%	39.96%
EBIT Q/Q Growth	85.06%	-78.14%	-93.37%	-164.51%	90.00%	19.62%	-234.19%	-81.37%	1,163.14%	-353.52%	39.73%
NOPAT Q/Q Growth	76.02%	-78.66%	-93.71%	-165.33%	90.01%	19.62%	-234.26%	-81.31%	1,618.93%	-277.51%	39.11%
Net Income Q/Q Growth	89.88%	-110.50%	-83.32%	-56.62%	85.21%	19.95%	-194.45%	-80.75%	1,063.78%	-368.06%	38.89%
EPS Q/Q Growth	89.88%	-110.50%	-83.32%	-56.62%	0.00%	0.00%	0.00%	69.34%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-86.67%	104.95%	317.73%	247.11%	-172.60%	29.91%	43.74%	-450.36%	-128.21%	72.58%	-78.12%
Free Cash Flow Firm Q/Q Growth	-119.38%	1,185.66%	35.16%	-104.53%	1,565.42%	35.28%	-15.07%	-550.29%	-207.40%	-16.34%	31.57%
Invested Capital Q/Q Growth	104.43%	2.64%	-13.73%	-71.60%	47.06%	-48.86%	-37.36%	2,628.55%	271.58%	-36.08%	-28.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.83%	61.52%	24.27%	28.75%	67.26%	74.25%	49.33%	79.39%	89.65%	83.35%	95.47%
EBITDA Margin	-1.70%	-18.51%	-76.42%	-222.27%	-24.64%	-20.81%	-94.97%	-158.62%	758.73%	-2,163.59%	-2,295.31%
Operating Margin	-17.38%	-35.04%	-96.46%	-246.28%	-30.65%	-26.79%	-113.50%	-151.65%	748.45%	-2,177.89%	-2,343.29%
EBIT Margin	-17.50%	-35.17%	-96.66%	-246.03%	-30.65%	-26.79%	-113.48%	-151.67%	748.45%	-2,177.34%	-2,318.59%
Profit (Net Income) Margin	-21.72%	-51.58%	-134.37%	-202.53%	-37.31%	-32.49%	-121.24%	-161.48%	722.40%	-2,222.11%	-2,399.42%
Tax Burden Percent	78.77%	105.09%	121.32%	79.28%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	157.55%	139.54%	114.59%	103.84%	121.75%	121.26%	106.83%	106.47%	96.52%	102.06%	103.49%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-12.38%	-7.51%	0.00%	-366.94%	-20.94%	-17.48%	-79.95%	-28.71%	74.56%	-285.76%	-453.28%
ROIC Less NNEP Spread (ROIC-NNEP)	-26.34%	-20.46%	0.00%	-332.50%	-31.28%	-27.00%	-106.95%	-52.09%	72.15%	-338.88%	-482.20%
Return on Net Nonoperating Assets (RNNOA)	-5.52%	-10.20%	0.00%	91.94%	-12.82%	-10.68%	-43.76%	-10.94%	66.74%	-1,365.75%	2,304.12%
Return on Equity (ROE)	-17.90%	-17.72%	-104.24%	-275.00%	-33.76%	-28.17%	-123.71%	-39.66%	141.30%	-1,651.51%	1,850.83%
Cash Return on Invested Capital (CROIC)	-27.26%	33.79%	49.98%	-62.33%	23.97%	66.33%	72.33%	-186.10%	-160.14%	-252.06%	-354.04%
Operating Return on Assets (OROA)	-10.28%	-7.24%	0.00%	-149.06%	-16.40%	-12.79%	-53.75%	-32.56%	70.67%	-373.22%	-562.59%
Return on Assets (ROA)	-12.76%	-10.61%	0.00%	-122.70%	-19.96%	-15.50%	-57.42%	-34.66%	68.21%	-380.90%	-582.20%
Return on Common Equity (ROCE)	-17.93%	-17.77%	-104.78%	-279.04%	-33.76%	-28.17%	-123.71%	-39.66%	141.30%	-1,651.51%	1,850.84%
Return on Equity Simple (ROE_SIMPLE)	-64.32%	-103.63%	-138.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.02	-1.82	-3.53	-9.36	-0.93	-0.75	-2.51	-4.55	69	-123	-75
NOPAT Margin	-12.17%	-24.53%	-67.52%	-172.40%	-21.45%	-18.76%	-79.45%	-106.16%	748.45%	-1,524.53%	-1,640.31%
Net Nonoperating Expense Percent (NNEP)	13.96%	12.95%	20.19%	-34.43%	10.34%	9.51%	27.00%	23.38%	2.41%	53.11%	28.92%
Return On Investment Capital (ROIC_SIMPLE)	-3.00%	-5.02%	-10.91%	-108.51%	-6.80%	-12.27%	-74.47%	-4.11%	17.10%	-47.89%	-40.10%
Cost of Revenue to Revenue	33.97%	39.01%	75.73%	64.11%	32.74%	25.75%	50.67%	20.61%	10.35%	16.65%	4.53%
SG&A Expenses to Revenue	18.85%	21.34%	34.28%	33.51%	31.39%	38.66%	83.62%	148.68%	100.19%	68.59%	108.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	82.21%	96.56%	120.73%	275.03%	97.90%	101.04%	162.83%	233.50%	-658.81%	2,261.24%	2,438.77%
Earnings before Interest and Taxes (EBIT)	-1.47	-2.61	-5.05	-13	-1.34	-1.07	-3.59	-6.50	69	-175	-106
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.14	-1.37	-3.99	-12	-1.07	-0.83	-3.00	-6.80	70	-174	-105
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.14	0.93	0.55	1.16	0.81	0.97	1.49	1.23	1.61	2.07	0.00
Price to Tangible Book Value (P/TBV)	9.03	10.00	6.98	1.39	1.03	1.35	3.56	3.36	15.58	2.13	0.00
Price to Revenue (P/Rev)	0.93	1.65	0.00	0.29	0.18	0.19	0.16	7.02	16.42	4.07	2.63
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.21	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.10%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.11	0.94	0.74	1.07	0.89	0.88	1.02	1.19	1.32	1.19	1.64
Enterprise Value to Revenue (EV/Rev)	1.11	2.28	0.00	0.34	0.49	0.29	0.24	8.13	25.64	12.40	11.62
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.92	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.15	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.15	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	6.42	38.77	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.07	0.94	0.00	2.00	0.41	0.33	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.43	0.47	0.32	1.73	0.63	0.82	0.23	0.92	4.26	-4.59
Long-Term Debt to Equity	0.08	0.26	0.22	0.32	0.39	0.35	0.31	0.00	0.68	2.96	-3.49
Financial Leverage	0.21	0.50	0.59	-0.28	0.41	0.40	0.41	0.21	0.93	4.03	-4.78
Leverage Ratio	2.09	2.23	2.22	2.54	2.57	2.73	2.99	1.52	2.03	5.50	-4.30
Compound Leverage Factor	3.30	3.11	2.54	2.64	3.13	3.31	3.20	1.62	1.96	5.61	-4.45
Debt to Total Capital	18.85%	29.83%	31.76%	24.44%	63.40%	38.54%	45.11%	18.58%	47.89%	81.00%	127.85%
Short-Term Debt to Total Capital	12.52%	11.59%	16.93%	0.00%	49.16%	17.23%	28.03%	18.58%	12.50%	24.78%	30.74%
Long-Term Debt to Total Capital	6.33%	18.24%	14.83%	24.44%	14.24%	21.31%	17.09%	0.00%	35.39%	56.22%	97.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.15%	70.16%	68.23%	75.56%	36.60%	61.46%	54.88%	81.42%	52.11%	19.00%	-27.85%
Debt to EBITDA	-0.55	-0.83	-0.75	-0.12	-0.47	-0.13	-0.09	-1.76	3.26	-1.82	-1.10
Net Debt to EBITDA	-0.52	-0.69	-0.71	-0.08	-0.37	-0.11	-0.08	-1.50	3.21	-1.81	-1.08
Long-Term Debt to EBITDA	-0.19	-0.51	-0.35	-0.12	-0.11	-0.07	-0.03	0.00	2.41	-1.26	-0.84
Debt to NOPAT	-0.81	-1.26	-0.97	-0.13	-0.56	-0.16	-0.11	-2.35	3.34	-2.55	-1.55
Net Debt to NOPAT	-0.75	-1.05	-0.92	-0.09	-0.44	-0.13	-0.10	-2.01	3.29	-2.53	-1.53
Long-Term Debt to NOPAT	-0.27	-0.77	-0.45	-0.13	-0.13	-0.09	-0.04	0.00	2.47	-1.77	-1.18
Altman Z-Score	0.50	-0.16	-1.05	-3.34	-2.69	-3.24	-5.06	1.48	2.03	-2.25	-3.11
Noncontrolling Interest Sharing Ratio	-0.17%	-0.29%	-0.51%	-1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.24	0.93	0.70	0.90	0.69	0.58	0.37	1.74	3.41	2.20	1.72
Quick Ratio	0.51	0.30	0.22	0.10	0.27	0.15	0.04	0.10	0.04	0.03	0.06
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2.07	23	30	-1.38	20	27	23	-105	-322	-374	-256
Operating Cash Flow to CapEx	-1,286.91%	100.96%	429.10%	1,009.14%	0.00%	0.00%	-2,545.72%	-2,258.47%	-65,962.24%	0.00%	-40,742.43%
Free Cash Flow to Firm to Interest Expense	-2.46	21.81	41.31	-2.69	69.61	119.89	94.77	-255.04	-119.10	-103.77	-69.49
Operating Cash Flow to Interest Expense	-4.50	0.18	1.06	5.31	-6.80	-6.07	-3.18	-10.45	-3.62	-0.74	-1.30
Operating Cash Flow Less CapEx to Interest Expense	-4.85	0.00	0.82	4.78	6.42	-6.07	-3.30	-10.91	-3.63	-0.70	-1.30
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.21	0.00	0.61	0.54	0.48	0.47	0.21	0.09	0.17	0.24
Accounts Receivable Turnover	6.07	2.00	0.00	30.54	4.25	5.82	6.94	41.37	38.12	28.18	77.18
Inventory Turnover	1.29	0.00	0.00	4.23	1.52	1.17	1.49	3.83	3.35	3.23	4.40
Fixed Asset Turnover	4.45	1.93	0.00	10.20	4.45	3.90	3.57	7.17	9.69	18.44	23.61
Accounts Payable Turnover	3.82	0.00	0.00	17.45	4.51	4.92	4.26	6.50	3.24	5.73	3.98
Days Sales Outstanding (DSO)	60.14	182.07	0.00	11.95	85.90	62.76	52.63	8.82	9.57	12.95	4.73
Days Inventory Outstanding (DIO)	281.95	0.00	0.00	86.37	239.39	311.77	245.15	95.41	109.01	113.12	82.94
Days Payable Outstanding (DPO)	95.47	0.00	0.00	20.92	80.92	74.21	85.67	56.15	112.60	63.74	91.77
Cash Conversion Cycle (CCC)	246.62	182.07	0.00	77.41	244.37	300.33	212.10	48.08	5.98	62.33	-4.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	34	34	30	8.44	12	6.35	3.98	108	403	258	185
Invested Capital Turnover	1.02	0.31	0.00	2.13	0.98	0.93	1.01	0.27	0.10	0.19	0.28
Increase / (Decrease) in Invested Capital	1.05	-24	-34	-7.98	-21	-28	-26	100	391	251	181
Enterprise Value (EV)	37	33	22	8.99	11	5.61	4.05	129	531	307	304
Market Capitalization	31	24	12	7.54	4.09	3.65	2.76	111	340	101	69
Book Value per Share	$1.52	$1.25	$1.06	$0.31	$0.24	$3.61	$1.40	$2.42	$3.58	$0.81	($0.74)
Tangible Book Value per Share	$0.19	$0.12	$0.08	$0.26	$0.19	$2.61	$0.59	$0.89	$0.37	$0.79	($0.77)
Total Capital	34	36	32	8.62	14	6.12	3.37	111	405	256	186
Total Debt	6.41	11	10	2.11	8.71	2.36	1.52	21	194	208	238
Total Long-Term Debt	2.15	6.62	4.79	2.11	1.96	1.31	0.58	0.00	143	144	181
Net Debt	5.99	8.98	9.77	1.45	6.92	1.95	1.29	18	191	206	235
Capital Expenditures (CapEx)	0.29	0.19	0.18	0.27	-3.84	0.00	0.03	0.19	0.01	-0.16	0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	8.72	0.69	-2.38	-1.90	1.99	-3.86	-6.11	42	204	155	105
Debt-free Net Working Capital (DFNWC)	9.14	2.53	-1.88	-1.24	3.78	-3.45	-5.88	45	206	157	108
Net Working Capital (NWC)	4.88	-1.67	-7.35	-1.24	-2.98	-4.51	-6.83	24	156	93	51
Net Nonoperating Expense (NNE)	0.80	2.01	3.49	1.64	0.69	0.55	1.32	2.37	2.41	56	35
Net Nonoperating Obligations (NNO)	5.99	8.98	7.66	1.92	7.38	2.58	2.12	18	192	209	237
Total Depreciation and Amortization (D&A)	1.32	1.24	1.06	1.29	0.26	0.24	0.59	-0.30	0.95	1.11	1.06
Debt-free, Cash-free Net Working Capital to Revenue	25.95%	4.83%	0.00%	-7.17%	8.85%	-20.29%	-36.07%	264.36%	985.93%	627.70%	400.93%
Debt-free Net Working Capital to Revenue	27.19%	17.74%	0.00%	-4.67%	16.83%	-18.16%	-34.71%	283.18%	996.75%	634.24%	414.25%
Net Working Capital to Revenue	14.53%	-11.72%	0.00%	-4.67%	-13.29%	-23.71%	-40.28%	153.14%	752.43%	377.50%	195.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.40)	($2.40)	($4.00)	($250.20)	($1.55)	($1.24)	($2.87)	($0.88)	$0.00	$0.00	($1.67)
Adjusted Weighted Average Basic Shares Outstanding	1.01M	1.02M	1.04M	51.36K	1.05M	1.05M	1.34M	7.91M	55.34M	60.83M	65.51M
Adjusted Diluted Earnings per Share	$0.00	($2.40)	$0.00	($250.20)	($1.55)	($1.24)	($2.87)	($0.88)	$0.00	$0.00	($1.67)
Adjusted Weighted Average Diluted Shares Outstanding	1.01M	1.02M	1.04M	51.36K	1.05M	1.05M	1.34M	7.91M	88.48M	60.83M	65.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($250.20)	$0.00	$0.00	$0.00	($0.88)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.02M	1.04M	1.04M	0.00	1.04M	1.32M	37.25M	58.89M	59.92M	69.76M	70.26M
Normalized Net Operating Profit after Tax (NOPAT)	-0.72	-1.39	-3.38	-9.36	-0.93	-0.75	-2.51	-4.55	-6.19	-6.61	-75
Normalized NOPAT Margin	-8.64%	-18.67%	-64.67%	-172.40%	-21.45%	-18.76%	-79.45%	-106.16%	-66.98%	-82.13%	-1,640.31%
Pre Tax Income Margin	-27.57%	-49.08%	-110.76%	-255.47%	-37.31%	-32.49%	-121.24%	-161.48%	722.40%	-2,222.11%	-2,399.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.74	-2.53	-6.85	-26.06	-4.60	-4.70	-14.63	-15.86	25.62	-48.64	-28.69
NOPAT to Interest Expense	-1.21	-1.76	-4.79	-18.26	-3.22	-3.29	-10.24	-11.10	25.62	-34.05	-20.29
EBIT Less CapEx to Interest Expense	-2.09	-2.71	-7.10	-26.59	8.62	-4.70	-14.76	-16.32	25.61	-48.59	-28.69
NOPAT Less CapEx to Interest Expense	-1.56	-1.94	-5.04	-18.79	10.00	-3.29	-10.37	-11.57	25.61	-34.01	-20.30
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Upexi’s latest quarter shows a business in transition, with sharp revenue growth and a major turnaround in reported earnings, but also continued losses, heavy leverage, and a balance sheet that remains highly dependent on accounting-driven asset values.

For fiscal Q3 2026, revenue rose to $4.6 million from $3.2 million a year ago, while gross profit improved to $4.4 million. However, the quarter also included $105.5 million in other operating expenses, which pushed operating income to a steep loss and resulted in a $109.3 million net loss. That makes the quarter look far better at the gross profit level than at the bottom line.

Cash flow was also weak from operations. Upexi reported negative operating cash flow of $4.8 million in Q3 2026, after negative operating cash flow of $2.7 million in Q2 2026 and $9.8 million in Q1 2026. Even though investing activity and financing helped offset some of the pressure, the company is still not generating consistent cash from its core business.

The balance sheet improved in some respects during 2026, but debt remains substantial. At the end of Q3 2026, Upexi held $3.5 million in cash, $200.4 million in total assets, and $252.3 million in total liabilities. That left negative shareholders’ equity of $51.9 million, which is a major red flag for investors.

What stands out over the last several quarters:

Revenue improved in the most recent quarter, rising to $4.6 million in Q3 2026 from $3.2 million in Q3 2025.
Gross profit also expanded meaningfully, suggesting the core business is producing better unit economics than a year ago.
Cash balance increased quarter over quarter to $3.5 million in Q3 2026 from $1.6 million in Q2 2026.
Debt was reduced from prior peaks, with short-term debt falling from $63.5 million in Q2 2026 to $57.3 million in Q3 2026 and long-term debt from $144.1 million to $181.0 million? Actually, the mix changed, but leverage remains very high overall.
Q1 2026 showed a very large reported profit, but it was driven by a large special accounting item, so investors should treat it cautiously.
Share count has fluctuated materially across periods, indicating dilution and/or corporate actions that can complicate per-share analysis.
Balance sheet composition includes large “other current assets” and “other noncurrent operating assets”, which are harder to evaluate than cash or receivables.
Operating cash flow has been negative in three straight recent quarters, showing the core business is still not self-funding.
Upexi posted a huge net loss in Q3 2026, driven by unusually large operating charges.
Shareholders’ equity remains negative, reflecting a strained capital structure and elevated financial risk.

Looking back over the past four years of quarterly data, Upexi has shown volatile revenue, repeated losses, and frequent swings in cash flow. There are signs of improvement in top-line growth and gross margin in the latest quarter, but those gains are being overwhelmed by exceptional charges, interest burden, and a heavily leveraged balance sheet.

Bottom line: Upexi appears to be a high-risk turnaround story. The recent quarter offered some operating improvement, but investors should focus on whether the company can produce sustainable operating cash flow and reduce leverage before assigning too much weight to any one strong quarter.

07/17/26 07:00 PM ETAI Generated. May Contain Errors.

Upexi Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Upexi's financial year ends in June. Their financial year 2025 ended on June 30, 2025.

Upexi's net income appears to be on an upward trend, with a most recent value of -$13.68 million in 2025, rising from -$5.38 million in 2020. The previous period was -$23.66 million in 2024. See where experts think Upexi is headed by visiting Upexi's forecast page.

Upexi's total operating income in 2025 was -$12.50 million, based on the following breakdown:

Total Gross Profit: $10.87 million
Total Operating Expenses: $23.47 million

Over the last 5 years, Upexi's total revenue changed from $7.41 million in 2020 to $15.81 million in 2025, a change of 113.3%.

Upexi's total liabilities were at $33.71 million at the end of 2025, a 98.3% increase from 2024, and a 698.3% increase since 2020.

In the past 5 years, Upexi's cash and equivalents has ranged from $661.42 thousand in 2024 to $14.53 million in 2021, and is currently $2.98 million as of their latest financial filing in 2025.

Over the last 5 years, Upexi's book value per share changed from 0.04 in 2020 to 2.42 in 2025, a change of 5,310.5%.

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Financial statements for NASDAQ:UPXI last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Upexi (UPXI) Financials

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Upexi (UPXI) Financials

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Quarterly Metrics And Ratios for Upexi

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Upexi Financials - Frequently Asked Questions

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How has Upexi's revenue changed over the last 5 years?

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