Filing Flows › Consumer Staples › IP Strategy Holdings (IPST)
IP Strategy Holdings (IPST) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Oct 23, 2026 · IP Strategy Holdings (IPST) Q2 2026 earnings results →
Q2 2026 Revenue down 44% year over year to $736K
IP Strategy Holdings made $736K in Q2 2026 (-44% Y/Y): Crypto and Related $554K, Product and Service $183K. Operating margin n/m, net loss $15.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 23, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $736K in Q2 2026, down 44% year over year and down 57% from the previous quarter. Crypto and Related was the largest line at 75% of revenue. Direct to Consumer lost $533K year over year (down 88%), 91% of the total change.
Gross margin was 55.5%, up 38.4 points from Q2 2025. Operating costs exceeded revenue by $14.8M, an operating margin of -2014.3%. Operating expenses grew 122% against a revenue fall of 44%. The quarter ended with a net loss of $15.4M, narrower than the previous quarter's $66.7M loss.
Operating cash flow was −$1.6M. Non-cash charges added back $34K of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $12.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Oct 23, 2026 | $736K | -44% | n/m | −$15.4M | −$1.6M |
| Q1 2026 | 10-Q | May 20, 2026 | $1.7M | +57% | n/m | −$66.7M | −$2.5M |
| Q4 2025 | 10-K | Apr 14, 2026 | $4.7M | +52% | n/m | −$324M | −$7.5M |
| Q3 2025 | 10-Q | Nov 18, 2025 | $3.0M | +70% | -38.4% | $196M | −$4.3M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $1.3M | -28% | -503.0% | −$7.3M | −$1.5M |
| Q1 2025 | 10-Q | May 20, 2025 | $1.1M | -36% | -224.5% | −$3.0M | −$2.0M |
| Q4 2024 | 10-K | Apr 28, 2025 | $3.1M | +26% | -268.8% | −$4.7M | −$5.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About IP Strategy Holdings
We operate a diversified business centered on digital asset–based infrastructure and intellectual property (“IP”) management, supplemented by a legacy craft spirits operating segment. In August 2025, we consummated a $220 million offering of our pre-paid stock purchase warrants in which we acquired 53.2 million $IP Tokens for our digital asset treasury. The $IP Token is the native utility token of the Story Network, a decentralized layer 1 blockchain that allows network participants to register, license and enforce IP assets. Our strategic focus involves the continued growth of our validator services using our $IP Tokens to generate yield and the possible future acquisition, management, and monetization of IP that can add value to our balance sheet and deliver more revenue and yield.
In its own words, from its 10-K, filed Apr 14, 2026.
IP Strategy Holdings against its Beverages peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -44% against the peers' median +6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IPST IP Strategy Holdings | Q2 2026 | $736K | -44% | n/m |
| PEP PepsiCo | Q3 2026 | $25.3B | +6% | 16.9% |
| KO Coca Cola | Q3 2026 | $13.4B | +7% | 33.4% |
| KDP Keurig Dr Pepper | Q3 2026 | $7.3B | +71% | 18.2% |
| STZ Constellation Brands | Q2 FY27 | $2.8B | +6% | 28.6% |
| PRMB Primo Brands | Q3 2026 | $1.8B | +3% | 13.7% |
| BF-B Brown Forman | Q1 FY27 | $1.2B | -0.8% | 21.3% |
| WEST Westrock Coffee | Q3 2026 | $300M | -15% | 1.1% |
| COCO Vita Coco Company | Q3 2026 | $244M | +34% | 18.6% |
Source: IP Strategy Holdings 10-Q on SEC EDGAR · CIK 1788230 · Beverages
13F: who owns IPST and who is buying
More on IPST
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results