Filing Flows › Upexi (UPXI) › Q1 FY26
Upexi (UPXI) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 12, 2025
Upexi (UPXI) reported revenue of $9.2M for the first quarter fiscal 2026 (Q1 FY26), +112% from a year earlier and +115% from the quarter before. Operating margin was 748.5%, net earnings $66.7M (722.4% of revenue).
Upexi, Q1 FY26: revenue $9.2M (+112% year over year), operating margin 748.5%, net earnings $66.7M, operating cash flow −$9.8M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.2M | +115% | +112% |
| Gross profit | $8.3M | +143% | +183% |
| Operating profit | $69.2M | — | — |
| Net earnings | $66.7M | — | — |
| Operating cash flow | −$9.8M | — | — |
What changed
Revenue was $9.2M in Q1 FY26, up 112% year over year and up 115% from the previous quarter.
Gross margin was 89.6%, up 22.4 points from a year earlier. Operating profit was $69.2M, a 748.5% margin (up 779.1 points year over year). Net earnings were $66.7M. The effective tax rate was 0.0%.
Operating cash flow was −$9.8M. Non-cash charges added back $155K of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items used $82.4M. Capital expenditures of $15K exceeded it, leaving free cash flow of −$9.8M.
Questions
What was Upexi's revenue in the first quarter fiscal 2026?
Upexi (UPXI) reported revenue of $9.2M for the first quarter fiscal 2026 (Q1 FY26), +112% from a year earlier and +115% from the quarter before.
Was Upexi profitable in the first quarter fiscal 2026?
Operating profit was $69.2M (748.5% of revenue) and net earnings $66.7M.
Source: Upexi 10-Q on SEC EDGAR.