Strive, Inc. Announces Third Quarter 2026 Financial Results
Strive, Inc. (ASST) filed an SEC Form 8-K — Results of Operations and Financial Condition. 1 Exhibit 99.1 Strive, Inc. Announces Third Quarter 2026 Financial Results DALLAS, TX — (GLOBE NEWSWIRE) — November 6, 2026 - Strive, Inc. (Nasdaq: ASST; SATA; SATS) (“Strive” or the “Company”) today announced its financial results for the third quarter ended September 30, 2026 .
How this was made
The 30-second read
Why it matters
The earnings release provides fresh, material data that can affect valuation and trading decisions.
Market read
First‑time disclosure of strong earnings and crypto yield, likely to influence the stock and related crypto‑exposed assets.
What to watch
Regulatory risk around crypto holdings and the sustainability of the Bitcoin acquisition strategy.
Strive reported third-quarter GAAP net income of $509.0 million, supported by a $533,697 thousand net unrealized gain on digital assets, at fair value, while continuing bitcoin accumulation and completing a SATS Stock offering after quarter-end.
The quarter produced $509.0 million of GAAP net income and $494.6 million of non-GAAP adjusted net income attributable to common stockholders, but reported revenue was $2,696 thousand and results were dominated by unrealized digital-asset gains. The nine-month period remained a GAAP net loss attributable to common stockholders of $88,371 thousand.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 total revenuesGAAP | $2.70M | – | – |
| Q3 2026 total operating expensesGAAP | $38.70M | – | – |
| Q3 2026 net unrealized gain on digital assets, at fair valueGAAP | $533.7M | – | – |
| Q3 2026 net unrealized gain on investments in preferred equity, at fair valueGAAP | $8.83M | – | – |
| Q3 2026 other investment gainGAAP | $1.50M | – | – |
| Q3 2026 total investment gainsGAAP | $544.0M | – | – |
| Q3 2026 net operating incomeGAAP | $508.0M | – | – |
| Q3 2026 net income before income taxesGAAP | $509.0M | – | – |
| Q3 2026 net incomeGAAP | $509.0M | – | – |
| Q3 2026 dividends on preferred stockGAAP | −$34.23M | – | – |
| Q3 2026 net income attributable to common stockholdersGAAP | $474.8M | – | – |
| Q3 2026 basic net income per common shareGAAP | $ 5.33 | – | – |
| Q3 2026 diluted net income per common shareGAAP | $ 5.24 | – | – |
| Q3 2026 weighted average diluted common shares outstandingGAAP | 90,534,798 | – | – |
| Q3 2026 non-GAAP adjusted net incomenon-GAAP | $528.8M | – | – |
| Q3 2026 non-GAAP adjusted net income attributable to common stockholdersnon-GAAP | $494.6M | – | – |
| Q3 2026 non-GAAP adjusted net income per diluted common sharenon-GAAP | $ 5.46 | – | – |
| Q3 2026 BTC Yieldother | 18.5% | – | – |
| Q3 2026 BTC Gain per ADSOother | 4,336.11 | – | – |
| Q3 2026 BTC $ Gain per ADSOother | $ 3.62 | – | – |
| Nine months ended September 30, 2026 total revenuesGAAP | $8.40M | – | – |
| Nine months ended September 30, 2026 total operating expensesGAAP | $83.72M | – | – |
| Nine months ended September 30, 2026 total investment gainsGAAP | $11.95M | – | – |
| Nine months ended September 30, 2026 net operating lossGAAP | −$63.37M | – | – |
| Nine months ended September 30, 2026 bargain purchase gainGAAP | $66.70M | – | – |
| Nine months ended September 30, 2026 net lossGAAP | −$14.48M | – | – |
| Nine months ended September 30, 2026 net loss attributable to common stockholdersGAAP | −$88.37M | – | – |
| Nine months ended September 30, 2026 diluted net loss per common shareGAAP | $ (1.17) | – | – |
| Nine months ended September 30, 2026 non-GAAP adjusted net lossnon-GAAP | −$26.22M | – | – |
| Nine months ended September 30, 2026 non-GAAP adjusted net loss attributable to common stockholdersnon-GAAP | −$100.1M | – | – |
| Nine months ended September 30, 2026 non-GAAP adjusted net loss per diluted common sharenon-GAAP | $ (1.33) | – | – |
| Year-to-date Q3 2026 BTC Yieldother | 63.2% | – | – |
| Year-to-date Q3 2026 BTC Gain per ADSOother | 10,764.11 | – | – |
| Year-to-date Q3 2026 BTC $ Gain per ADSOother | $ 9.00 | – | – |
| October 1, 2026 through October 30, 2026 BTC Yieldother | 19.3% | – | – |
| October 1, 2026 through October 30, 2026 BTC Gain per ADSOother | 5,359.93 | – | – |
| October 1, 2026 through October 30, 2026 BTC $ Gain per ADSOother | $ 4.11 | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Q3 2026 Investment advisory feesNo segment revenue driver was provided. | $1.56M | – | – |
| Q3 2026 Medical device revenuesNo segment revenue driver was provided. | $1.13M | – | – |
| Q3 2026 Other revenueNo segment revenue driver was provided. | $4K | – | – |
| Nine months ended September 30, 2026 Investment advisory feesNo segment revenue driver was provided. | $4.42M | – | – |
| Nine months ended September 30, 2026 Medical device revenuesNo segment revenue driver was provided. | $3.89M | – | – |
| Nine months ended September 30, 2026 Other revenueNo segment revenue driver was provided. | $88K | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- Dividends on preferred stock for the three months ended September 30, 2026: $ (34,231) (in thousands).
- Dividends on preferred stock for the nine months ended September 30, 2026: $ (73,894) (in thousands).
- On October 20, 2026, the Company completed a registered public offering of 7,000,000 shares of SATS Stock for net proceeds of approximately $609.0 million, after deducting underwriting discounts and commissions.
What drove it
- The Company acquired 8,136 bitcoin during the third quarter ended September 30, 2026 and 20,373 bitcoin during the nine months ended September 30, 2026.
- The Company acquired an additional 15,124 bitcoin from October 1, 2026 through October 30, 2026.
- Q3 total investment gains were $ 544,027 (in thousands), including a $ 533,697 (in thousands) net unrealized gain on digital assets, at fair value.
- Q3 operating expenses included $ 14,650 (in thousands) of impairment of medical device research and development intangible asset and $ 15,633 (in thousands) of employee compensation and benefits.
- Strive Asset Management, LLC manages over $2.9 billion in assets.
Concerns
- The nine-month period produced a GAAP net loss attributable to common stockholders of $ (88,371) (in thousands) and a non-GAAP adjusted net loss attributable to common stockholders of $ (100,117) (in thousands).
- The Company states that its bitcoin-related metrics do not account for liabilities or the preferential rights of preferred stockholders to dividends and assets in a liquidation.
- The Company states that redeemable preferred-stock offerings can increase Bitcoin Yield, Bitcoin Gain per ADSO, and Bitcoin $ Gain per ADSO while increasing senior claims on the Company’s assets, including bitcoin.
- The filing identifies potential dilution from additional Class A common stock, SATA Stock, or SATS Stock issuances.
- No financial outlook or quantitative guidance was issued.
What to watch
- Further bitcoin purchases and the reported Bitcoin Yield, Bitcoin Gain per ADSO, and Bitcoin $ Gain per ADSO metrics.
- The effect of the 7,000,000-share SATS Stock offering completed on October 20, 2026 and the associated approximately $609.0 million of net proceeds.
- Digital-asset fair-value movements, which the Company recognizes in net income or loss under ASU 2023-08.
- Preferred-stock dividends and the senior claims of preferred stockholders.
- Progress in evaluating banking, brokerage, decentralized finance, reinsurance, structured ABS, and tokenization opportunities.
Balance sheet and cash flow
- Cash and cash equivalents as of September 30, 2026: $ 285,405 (in thousands); December 31, 2025: $ 67,499 (in thousands).
- Cash and cash equivalents as of October 30, 2026: $490.4 million.
- Investments in preferred equity, at fair value, as of September 30, 2026: $ 50,172 (in thousands); December 31, 2025: —.
- Digital assets, at fair value, as of September 30, 2026: $ 2,340,192 (in thousands); December 31, 2025: $ 668,486 (in thousands).
- Total assets as of September 30, 2026: $ 2,684,170 (in thousands); December 31, 2025: $ 745,527 (in thousands).
- Total liabilities as of September 30, 2026: $ 37,520 (in thousands); December 31, 2025: $ 14,289 (in thousands).
- Variable Rate Series A Preferred Stock mezzanine equity as of September 30, 2026: $ 1,210,820 (in thousands); December 31, 2025: $ 148,802 (in thousands).
- Total stockholders’ equity as of September 30, 2026: $ 1,435,830 (in thousands); December 31, 2025: $ 582,436 (in thousands).
- The Company’s position in STRC Stock had a fair value of $50.1 million as of October 30, 2026.
- No operating cash flow, free cash flow, or cash-flow statement was reported in the filing.
Analysis
Strive reported Q3 2026 total revenues of $ 2,696 (in thousands), comprising $ 1,559 (in thousands) of investment advisory fees, $ 1,133 (in thousands) of medical device revenues, and $ 4 (in thousands) of other revenue. Operating expenses were $ 38,699 (in thousands), including $ 15,633 (in thousands) of employee compensation and benefits and a $ 14,650 (in thousands) impairment of medical device research and development intangible asset. The filing did not report gross profit or gross margin.
Reported profitability was driven by fair-value investment gains. Net unrealized gain on digital assets, at fair value, was $ 533,697 (in thousands), while net unrealized gain on investments in preferred equity, at fair value, was $ 8,833 (in thousands). Total investment gains were $ 544,027 (in thousands), producing net operating income of $ 508,024 (in thousands) and GAAP net income of $ 509,032 (in thousands). Net income attributable to common stockholders was $ 474,801 (in thousands), or $ 5.24 per diluted common share, after $ (34,231) (in thousands) of dividends on preferred stock.
Non-GAAP adjusted net income was $ 528,786 (in thousands), and non-GAAP adjusted net income attributable to common stockholders was $ 494,555 (in thousands), or $ 5.46 per diluted common share. For the nine months ended September 30, 2026, however, Strive reported a GAAP net loss of $ (14,477) (in thousands), a net loss attributable to common stockholders of $ (88,371) (in thousands), and non-GAAP adjusted net loss attributable to common stockholders of $ (100,117) (in thousands). Nine-month total revenues were $ 8,397 (in thousands), while total operating expenses were $ 83,716 (in thousands).
The balance sheet expanded alongside the bitcoin treasury strategy. Digital assets, at fair value, were $ 2,340,192 (in thousands) as of September 30, 2026, and cash and cash equivalents were $ 285,405 (in thousands). As of October 30, 2026, cash and cash equivalents totaled $490.4 million and the STRC Stock position had a fair value of $50.1 million. The Company acquired 8,136 bitcoin in Q3, 20,373 bitcoin in the nine-month period, and an additional 15,124 bitcoin from October 1, 2026 through October 30, 2026.
Capital formation remained central to the period. On October 20, 2026, Strive completed a registered public offering of 7,000,000 shares of SATS Stock for net proceeds of approximately $609.0 million. Variable Rate Series A Preferred Stock mezzanine equity was $ 1,210,820 (in thousands) at September 30, 2026, and preferred-stock dividends were $ (73,894) (in thousands) for the nine months. Management provided no quantitative outlook, so the next reported bitcoin purchases, digital-asset fair-value movements, preferred-stock obligations, and underlying advisory and medical-device revenue remain the principal disclosed items to follow.
Management, verbatim
Strive has continued to successfully execute on its treasury management strategy, delivering a strong bitcoin yield year to date in 2026, which I believe is the primary driver of our common equity's outperformance relative to Bitcoin so far this year.
Matthew Cole, Chairman & Chief Executive Officer of Strive, Inc.
With the recent issuance of SATS, we believe Strive has never been in a better position to generate long-term returns in excess of Bitcoin for our common equity shareholders.
Matthew Cole, Chairman & Chief Executive Officer of Strive, Inc.
Not in the filing
stated, not guessed- Quantitative forward guidance for revenue, gross margin, operating expenses, tax rate, earnings, bitcoin purchases, Bitcoin Yield, or capital deployment.
- Prior-quarter comparable figures for Q3 2026 metrics.
- Same-period prior-year comparable figures for Q3 2026 and nine-month 2026 metrics.
- Gross profit and gross margin.
- Operating cash flow, capital expenditures, free cash flow, and a cash-flow statement.
- Share repurchases or common-stock dividend payments.
- A reported debt balance as of September 30, 2026.
- Segment profitability and segment margins.
- A numerical explanation of revenue changes or segment revenue drivers.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Strive, Inc. filed a Form 8‑K reporting its Q3 2026 financial results, including Bitcoin acquisitions and yields.
Ticker impact
Strive, Inc. disclosed Q3 2026 GAAP net income of $509.0 million and strong Bitcoin yield results in its 8‑K filing.
likely upward pressure as investors price in the strong earnings and Bitcoin yield.
The disclosed net income and yield percentages are materially better than prior periods, providing fresh, material information that can move the share price.
Market effects
Highlights the profitability of crypto‑exposed asset managers, potentially boosting peer sector sentiment.
Positive for U.S. listed fintech and asset‑management stocks.
Shows how Bitcoin exposure can drive earnings, relevant for global crypto‑linked equities.
Counterpoint
If Bitcoin prices reverse, the high yield may not be sustainable, weighing on the stock.
Key entities
- companyStrive, Inc.
Nasdaq‑listed asset manager with crypto exposure.
