Filing Flows › IP Strategy Holdings (IPST) › Q1 2026 › vs Q1 2025
IP Strategy Holdings (IPST) Q1 2026 vs Q1 2025 (year over year)
IP Strategy Holdings's revenue rose $620K (+57%) from $1.1M in Q1 2025 to $1.7M in Q1 2026. The biggest changes: Crypto and Related +$1.5M (—); Product and Service −$832K (-76%); Third Party +$2K (—).
IP Strategy Holdings, Q1 2026: revenue $1.7M (+57% year over year), net loss $66.7M, operating cash flow −$2.5M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Wholesale | $194K | $269K | −$76K | -28% |
| Direct to Consumer | $52K | $569K | −$517K | -91% |
| Spirits Services | $14K | $254K | −$240K | -94% |
| Product and Service | $260K | $1.1M | −$832K | -76% |
| Crypto and Related | $1.5M | $0 | $1.5M | — |
| Third Party | $2K | $0 | $2K | — |
| Revenue | $1.7M | $1.1M | $620K | +57% |
| Net loss | $66.7M | $3.0M | $63.7M | 22× |
| Costs & expenses | $68.5M | $4.1M | $64.3M | 17× |
| Operating costs | $68.1M | $3.5M | $64.6M | 19× |
| Interest & other, net | $352K | $582K | −$230K | -39% |
| Cost of revenue | $543K | $820K | −$277K | -34% |
| Sales & marketing | $442K | $1.3M | −$873K | -66% |
| General & admin | $2.7M | $1.4M | $1.2M | +88% |
| Operating cash sources | $66.7M | $3.0M | $63.7M | 22× |
| Depreciation | $31K | $297K | −$266K | -90% |
| Share-based compensation | $943K | $0 | $943K | — |
| Working capital & other | $63.3M | $705K | $62.6M | 90× |
| Cash used in operations | $2.5M | $2.0M | $422K | +21% |
| Net loss absorbed | $66.7M | $3.0M | $63.7M | 22× |
Questions
How much did IP Strategy Holdings's revenue grow year over year in Q1 2026?
IP Strategy Holdings's revenue rose $620K (+57%) from $1.1M in Q1 2025 to $1.7M in Q1 2026.
What drove IP Strategy Holdings's revenue change in Q1 2026?
Crypto and Related +$1.5M (—); Product and Service −$832K (-76%); Third Party +$2K (—).