AI Financial Corporation filed a Form 10-Q with the SEC on November 12, 2026, covering the quarterly period ended September 26, 2026, reporting a net loss of $519,225 thousand for the 39-week period and disclosing a sharp decline in cryptocurrency asset values on its balance sheet.

Key Highlights

  • Net loss of $519,225 thousand for the 39 weeks ended September 26, 2026, compared to net income of $36,986 thousand in the same period of the prior year, according to the filing.
  • Cryptocurrency assets fell to $417,441 thousand at September 26, 2026, down from $1,054,663 thousand at December 27, 2025, as reported on the balance sheet.
  • Unrealized loss on cryptocurrency assets of $637,222 thousand was recorded for the 39-week period, compared to an unrealized gain of $72,836 thousand in the prior-year period.
  • Total assets declined to $698,206 thousand at September 26, 2026, from $1,219,455 thousand at December 27, 2025.
  • Accumulated deficit reached $921,935 thousand at September 26, 2026, up from $402,710 thousand at December 27, 2025.
  • 139,836,511 common shares outstanding as of November 9, 2026, with a par value of $0.001 per share.
  • Revenues of $934 thousand for the 39-week period ended September 26, 2026, compared to $1,235 thousand in the prior-year period.

AI Financial Corporation's 39-Week Results Reflect Cryptocurrency Asset Losses

According to the 10-Q filed for the period ended September 26, 2026, AI Financial Corporation (NASDAQ:AIFC) reported a net loss of $519,225 thousand for the 39 weeks ended September 26, 2026, a substantial reversal from net income of $36,986 thousand in the comparable 39-week period ended September 27, 2025. The filing attributes the primary driver of this swing to an unrealized loss on cryptocurrency assets of $637,222 thousand for the current 39-week period, contrasted with an unrealized gain of $72,836 thousand in the prior-year period.

The company's balance sheet reflected the decline in cryptocurrency valuations directly. Cryptocurrency assets, carried at fair value, stood at $417,441 thousand as of September 26, 2026, compared to $1,054,663 thousand as of December 27, 2025, a decrease of $637,222 thousand over the fiscal year to date. Total assets correspondingly declined to $698,206 thousand from $1,219,455 thousand. Deferred income taxes, net, rose to $229,063 thousand from $83,625 thousand, and the company recorded an income tax benefit of $146,352 thousand for the 39-week period from continuing operations, partially offsetting the pre-tax loss of $649,757 thousand.

Revenues from continuing operations were $934 thousand for the 39 weeks ended September 26, 2026, down from $1,235 thousand in the prior-year period. Selling, general and administrative expenses were $10,723 thousand for the same period, compared to $15,090 thousand in the prior-year period. The filing also reported a loss from discontinued operations of $15,820 thousand for the 39-week period, net of tax. Comparative prior-year amounts, the filing states, have been reclassified to present ALT5 Canada and Biotechnology as discontinued operations, with consolidated net income and total earnings per share noted as unchanged by this reclassification.

What Was Disclosed

AI Financial Corporation disclosed its unaudited condensed consolidated financial results for the 13 and 39 weeks ended September 26, 2026, including a $519,225 thousand net loss for the year-to-date period, primarily driven by a $637,222 thousand unrealized loss on cryptocurrency assets, and balance sheet totals as of that date.