Filing Flows › Upexi (UPXI) › Q4 FY26
Upexi (UPXI) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Sep 17, 2026
Upexi (UPXI) reported revenue of $3.1M for the fourth quarter fiscal 2026 (Q4 FY26), -27% from a year earlier and -31% from the quarter before. Operating margin was -884.4%, net loss $24.5M (779.4% of revenue).
Upexi, Q4 FY26: revenue $3.1M (-27% year over year), operating margin -884.4%, net loss $24.5M, operating cash flow −$3.7M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1M | -31% | -27% |
| Operating profit | −$27.9M | — | — |
| Net earnings | −$24.5M | — | — |
| Operating cash flow | −$3.7M | — | — |
What changed
Revenue was $3.1M in Q4 FY26, down 27% year over year and down 31% from the previous quarter.
Gross margin was 96.0%, up 16.6 points from Q4 FY25. Operating costs exceeded revenue by $27.9M, an operating margin of -884.4%. Operating expenses grew 212% against a revenue fall of 27%. The fastest-growing cost line was Other operating costs (+830%). The quarter ended with a net loss of $24.5M, narrower than the previous quarter's $109.3M loss.
Operating cash flow was −$3.7M. Non-cash charges added back $40K of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $16.9M.
Questions
What was Upexi's revenue in the fourth quarter fiscal 2026?
Upexi (UPXI) reported revenue of $3.1M for the fourth quarter fiscal 2026 (Q4 FY26), -27% from a year earlier and -31% from the quarter before.
Was Upexi profitable in the fourth quarter fiscal 2026?
Operating loss was $27.9M (-884.4% of revenue) and net loss $24.5M.
Source: Upexi 10-K on SEC EDGAR.