Highlights

  • Second quarter net loss was USD 43,034,434, or USD 1.53 per share.
  • Six-month net loss was USD 128,437,982 against USD 6,360,327.
  • Total Assets fell to USD 179,532,645 from USD 372,436,094.
  • The filing cites a USD 106.3 million loss on Bitcoin in the six months.

Empery Digital Inc. (NASDAQ:EMPD) shares were trading near their all-time low at USD 2.07 on November 6, 2026, unchanged on the day. The company reported a second quarter net loss of USD 43,034,434, or USD 1.53 per share, on Revenue of USD 80,019.

Background on the Private Placements

On July 17, 2025, the company announced private placements of 44,414,189 shares of common stock and pre-funded warrants for up to 5,728,662 shares at USD 10.00 per share. Aggregate gross proceeds were approximately USD 501.0 million, including USD 28.0 million paid in Bitcoin, and the placements closed on July 21, 2025.

The company used net proceeds of USD 452.0 million, excluding the Bitcoin received, to purchase or otherwise acquire Bitcoin and for other purposes.

Revenue and Loss

Revenue was USD 80,019 against USD 190,173. The filing breaks it into financing income of USD 30,796, sales of Brats of USD 14,397 and accessories and parts of USD 34,533. For the six months, revenue was USD 305,721 against USD 652,505.

Total operating expenses were USD 42,000,184 against USD 3,282,629, and USD 125,374,584 for the six months against USD 5,362,785. The loss from operations was USD 42,068,368 against USD 3,479,727.

The net loss was USD 43,034,434 against USD 3,899,897. For the six months, the net loss was USD 128,437,982, or USD 4.21 per share, against USD 6,360,327, or USD 14.88 per share.

Cash and Liquidity

At June 30, 2026, cash, cash equivalents and restricted cash were USD 3.6 million, including USD 0.1 million of restricted cash, and the Working Capital Deficit was USD 5.6 million. Cash and cash equivalents were USD 3,589,598 against USD 8,963,856 at December 31, 2025.

Net cash used in Operating Activities was USD 10.4 million for the six months. The filing lists stock-based compensation of USD 1.8 million, Bad debt expense of USD 2.2 million for write-offs of Venom receivables and inventory financing deposits, and a loss on Bitcoin of USD 106.3 million among the adjustments.

Investing activities provided USD 79,232,730, while financing activities used USD 74,211,233.

Balance Sheet and Share Count

Total assets were USD 179,532,645 against USD 372,436,094. Total liabilities were USD 66,142,070 against USD 103,221,877, and total stockholders' Equity was USD 113,390,575 against USD 269,214,217. The accumulated deficit was USD 444,806,915.

Shares outstanding were 28,110,111 as of June 30, 2026, against 33,800,951 at December 31, 2025.