Filing Flows › IP Strategy Holdings (IPST) › Q1 2026
IP Strategy Holdings (IPST) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 20, 2026
IP Strategy Holdings (IPST) reported revenue of $1.7M for the first quarter 2026 (Q1 2026), +57% from a year earlier and -64% from the quarter before.
IP Strategy Holdings, Q1 2026: revenue $1.7M (+57% year over year), net loss $66.7M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7M | -64% | +57% |
| Operating profit | −$66.4M | — | — |
| Net earnings | −$66.7M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $1.7M in Q1 2026, up 57% year over year and down 64% from the previous quarter. Crypto and Related was the largest line at 85% of revenue. Spirits Services declined 94%.
Gross margin was 68.3%, up 43.4 points from Q1 2025. Operating costs exceeded revenue by $66.4M, an operating margin of -3877.6%. Operating expenses grew 2381% against revenue growth of 57%. The fastest-growing cost line was General & admin (+88%). The quarter ended with a net loss of $66.7M, narrower than the previous quarter's $323.7M loss.
Operating cash flow was −$2.5M. Non-cash charges added back $31K of depreciation and $943K of share-based compensation. Working capital and other items added $63.3M.
Questions
What was IP Strategy Holdings' revenue in the first quarter 2026?
IP Strategy Holdings (IPST) reported revenue of $1.7M for the first quarter 2026 (Q1 2026), +57% from a year earlier and -64% from the quarter before.