# EDGAR Filing Document

**Accession Number:** 0001775194
**File Stem:** 0001477932-26-000740
**Filing Date:** 2026-2
**Character Count:** 21248
**Document Hash:** 6d82712cb19e4f7a14595ef039489a60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-26-000740.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001477932-26-000740

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20260209

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UPEXI, INC.
- **CENTRAL INDEX KEY:** 0001775194
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 833378978
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40535
- **FILM NUMBER:** 26617236

**BUSINESS ADDRESS:**
- **STREET 1:** 3030 ROCKY POINT DRIVE
- **STREET 2:** SUITE 420
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33607
- **BUSINESS PHONE:** 701-353-5425

**MAIL ADDRESS:**
- **STREET 1:** 3030 ROCKY POINT DRIVE
- **STREET 2:** SUITE 420
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33607

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GROVE, INC.
- **DATE OF NAME CHANGE:** 20190429

?xml version='1.0' encoding='ASCII'? upxi_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_________________

**FORM 8-K**

_________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 9, 2026**

_______________________________

---

| |
|:---|
| **UPEXI, INC.** |
| **(Exact name of registrant as specified in its charter)** |

---

_______________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40535** | **83-3378978** |
| (State or Other Jurisdiction <br>of Incorporation) | (Commission <br>File Number) | (I.R.S. Employer <br>Identification No.) |

---

**3030 N. Rocky Point Drive, Suite 420**

**<u>Tampa, FL 33607</u>**

(Address of Principal Executive Offices) (Zip Code)

**<u>(727) 287-2800</u>**

(Registrant's telephone number, including area code)

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.00001 | UPXI | NASDAQ |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02 Results of Operations and Financial Condition.**

On February 10, 2026, Upexi, Inc. (the "Company") issued a press release announcing its results of operations and financial condition for the three and six months ended December 31, 2025, as well as other operational and business highlights for the six months ended December 31, 2025 and subsequent to that date. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference herein.

The information in Item 2.02, including Exhibit 99.2 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any of the Company's filings under the Securities Act, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Report in such filing.

**Item 8.01 Other Events.**

On February 9, 2026, Upexi, Inc. (the "Company") issued a press release announcing that Management will participate in one-on-one investor meetings at A.G.P's Digital Asset Innovation Summit on February 22-25, 2026, at the Park Hyatt in Beaver Creek, Colorado. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

The information in Item 8.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any of the Company's filings under the Securities Act, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Report in such filing.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| [99.1](upxi_ex991.htm) | [Press Release of Upexi, Inc., dated February 9, 2026](upxi_ex991.htm) |
| [99.2](upxi_ex992.htm) | [Press Release of Upexi, Inc., dated February 10, 2026](upxi_ex992.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **UPEXI, INC.** | **UPEXI, INC.** |
| Dated: February 10, 2026 | By: | */s/ Andrew J. Norstrud* |
|  | Name:  | Andrew J. Norstrud |
|  | Title:  | Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Upexi to Participate in A.G.P.'s Digital Asset Innovation Summit on February 22-25**

TAMPA, FL., February 9, 2026 - Upexi, Inc. (NASDAQ: UPXI) ("Upexi" or the "Company"), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced that management will participate in one-on-one investor meetings at A.G.P.'s Digital Asset Innovation Summit on February 22-25, 2026, at the Park Hyatt in Beaver Creek, Colorado.

**A.G.P.'s Digital Asset Innovation Summit**

**Date:** February 22-25, 2026

**Location:** Park Hyatt, Beaver Creek, Colorado

**Attendees:** Brian Rudick, Chief Strategy Officer

**Format:** Investor Meetings

To schedule a one-on-one meeting with Upexi's management team, please contact KCSA Strategic Communications at Upexi@KCSA.com.

**About Upexi, Inc.**

Upexi, Inc. (Nasdaq: UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana, the cryptocurrency of the leading high-performance blockchain, Upexi utilizes three key value accrual mechanisms in intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.

Follow Upexi on X - https://x.com/upexitreasury

Follow CEO, Allan Marshall, on X - https://x.com/upexiallan

Follow CSO, Brian Rudick, on X - https://x.com/thetinyant

**Company Contact**

Brian Rudick, Chief Strategy Officer

(203) 442-5391

brian.rudick@upexi.com

**Investor Relations Contact**

KCSA Strategic Communications

Valter Pinto or Jack Perkins

Upexi@KCSA.com

**Media Relations Inquiries**

Greg or Katie @STiR-communications.com

STiR-communications.com

## Exhibit 99.2

**EXHIBIT 99.2**

**Upexi Reports Fiscal Second Quarter 2026 Financial Results**

*Digital Asset Revenue was $5.1 Million for the Quarter*

*Gross Profit Increased 126% YoY to $6.7 Million for the Quarter*

*Conference Call Scheduled for Today, February 10, 2026, at 5:30 p.m. Eastern Time*

**TAMPA, Fla., February 10, 2026— Upexi, Inc.** (NASDAQ: UPXI) (the "Company" or "Upexi"), a leading Solana-focused digital asset treasury company and consumer brands owner, today announced its financial results for the fiscal second quarter ended December 31, 2025.

"Our conviction in the long-term opportunity for Solana and our strategy remains stronger than ever despite the challenging market environment over the last several months - dynamics which we view as cyclical, not structural," said Allan Marshall, Chief Executive Officer of Upexi. "During the quarter, we continued to drive our business forward by delivering $5.1 million of digital asset revenue, raising approximately $10 million from a private placement, and implementing a $50 million share repurchase program. We remain encouraged by the increased development, usage and adoption of Solana across the financial landscape and have continued to grow our Solana holdings on a per-share basis. We believe we are well-positioned with a scalable model designed to drive sustainable growth, cash flow, and value creation over time for our shareholders."

**Financial Highlights for the Quarter Ended December 31, 2025**

● Total revenue for the quarter was approximately $8.1 million, compared to $4.0 million for the same quarter ended December 31, 2024.

o Revenue from operations from the consumer brands business totaled $2.9 million.

o Digital asset revenue, which primarily consists of staking income, totaled $5.1 million.

● Gross profit totaled $6.7 million, up 126% year-over-year, due mainly to the addition of the digital asset treasury business.

● Net loss totaled $178.9 million, or $(2.94) per share, compared to a net loss of $1.3 million, or $(1.24) per share, for the quarter ended December 31, 2024. This net loss was largely driven by $164.5 million of unrealized losses on digital assets, reflecting non-cash quarter-end fair value adjustments, as well as $8.3 million of stock-based compensation expense.

● Cash and cash equivalents were $1.6 million as of December 31, 2025.

● As of February 9, 2026, the Company had 69,760,581 shares of common stock outstanding.

**Operational and Other Highlights Subsequent to the Quarter**

● Announced forthcoming strategic shift to a high-return treasury strategy.

● Previously-filed shelf registration statement on Form S-3 went effective.

● Announced the pricing of a $36 million private placement convertible note in exchange for locked Solana.

● Announced the pricing of a $7.4 million registered direct offering.

● Current cash on hand stands at approximately $9.7 million.

The Company's Quarterly Report on Form 10-Q for this period is available on the SEC's website and on Upexi's IR website.

**Conference Call Information**

---

| | |
|:---|:---|
| **Event:** | Fiscal Second Quarter 2026 Earnings Call |
| **Date:** | Tuesday, February 10, 2026 |
| **Time:** | 5:30 p.m. ET |
| **Live Call:** | 1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779 (International) |
| **Webcast** | https://ir.upexi.com/news-events/ir-calendar |

---

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until February 24, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13758450.

**About Upexi, Inc.**

Upexi, Inc. (Nasdaq: UPXI) is a leading digital asset treasury company, where it aims to acquire and hold as much Solana (SOL) as possible in a disciplined and accretive fashion. In addition to benefiting from the potential price appreciation of Solana - the cryptocurrency of the leading high-performance blockchain - Upexi utilizes three key value accrual mechanisms: intelligent capital issuance, staking, and discounted locked token purchases. The Company operates in a risk-prudent fashion to position itself for any market environment and to appeal to investors of all kinds, and it currently holds over two million SOL. Upexi also continues to be a brand owner specializing in the development, manufacturing, and distribution of consumer products. Please see www.upexi.com for more information.

Follow Upexi on X - https://x.com/upexitreasury

Follow CEO, Allan Marshall, on X - https://x.com/upexiallan

Follow CSO, Brian Rudick, on X - https://x.com/thetinyant

**Forward-Looking Statements**

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

**Company Contact**

Brian Rudick, Chief Strategy Officer

Email: brian.rudick@upexi.com

Phone: (203) 442-5391

**Investor Relations Contact**

KCSA Strategic Communications

Valter Pinto or Jack Perkins

Upexi@KCSA.com

**Media Relations Inquiries**

Greg or Katie @STiR-communications.com

STiR-communications.com

---

| |
|:---|
| **UPEXI, INC.** |
| **CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **June 30,**<br>**2025** |
|  | **(Unaudited)** |  |
| **ASSETS** |  |  |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | $1616765 | $2975150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net | 594552 | 157515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inventory, net | 728273 | 1152870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from VitaMedica transition | 304880 | 228017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other receivables | 1302064 | 350836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Current digital assets at fair value | 164703917 | 49913655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase price receivable - VitaMedica | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 171250451 | 56778043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Property and equipment, net | 543246 | 2052573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intangible assets, net | 874733 | 163113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodwill | 673854 | 848854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deferred tax asset | 5948858 | 5948858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital assets at fair value, net of current | 90998464 | 56083525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 218710 | 192123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Right-of-use asset, net | 636449 | 1739755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other assets | 99894314 | 67028801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | $271144765 | $123806844 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | $665840 | $1039370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued compensation | 3111115 | 3470296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue | 47287 | 13155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued liabilities | 1964281 | 356064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued interest | 2902942 | 792449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acquisition payable | 260652 | 260652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Current portion of promissory notes | 560000 | 560000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-term treasury debt | 62695723 | 20000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Current portion of Cygnet subsidiary notes payable | 5380910 | 5380910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Current portion of operating lease payable | 263672 | 691010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 77852422 | 32563906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating lease payable, net of current portion | 460134 | 1145440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Convertible notes payable | 144115480 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total long-term liabilities | 144575614 | 1145440 |

---

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| | | |
|:---|:---|:---|
| **Stockholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred stock, $0.00001 par value, 10,000,000 shares authorized, and 150,000 and 150,000 shares issued and outstanding, respectively | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stock, $0.00001 par value, 1,000,000,000 shares authorized, and 63,212,588 and 38,270,571 shares issued, respectively | 632 | 383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Treasury stock, 416,226 and 0, as of December 31, 2025, and June 30, 2025, respectively | (799277) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Additional paid in capital | 222236002 | 150640935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accumulated deficit | (172720630) | (60543822) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 48716729 | 90097498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' equity | $271144765 | $123806844 |

---

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| |
|:---|
| **UPEXI, INC.** |
| **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)** |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** <br> **December 31,** | **Three Months Ended** <br> **December 31,** | **Six Months Ended** <br> **December 31,** | **Six Months Ended** <br> **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenue** |  |  |  |  |
| Revenue | $2908527 | $4005492 | $6064655 | $8362007 |
| Digital asset revenue | 5143513 | - | 11227130 | - |
| Total revenue | 8052040 | 4005492 | 17291785 | 8362007 |
| Cost of revenue | 1340881 | 1031386 | 2297626 | 2457833 |
| Gross profit | 6711159 | 2974106 | 14994159 | 5904174 |
| **Operating expenses** |  |  |  |  |
| Sales and marketing | 915841 | 949963 | 1983396 | 1991388 |
| Distribution costs | 924201 | 1276422 | 1811797 | 2732147 |
| General and administrative | 5522786 | 1548590 | 14779994 | 2916280 |
| Unrealized loss on digital assets | 164495019 |  | 86498895 |  |
| Realized loss on digital asset revenue conversion to USD | 341599 |  | 341599 |  |
| Stock-based compensation | 8300673 | 32578 | 14057071 | 173876 |
| Amortization of acquired intangible assets | 19190 | 19190 | 38380 | 38380 |
| Impairment on assets from manufacturing shut down | 1422289 |  | 1422289 |  |
| Depreciation | 134388 | 220562 | 270290 | 460467 |
|  | 182075986 | 4047305 | 121203711 | 8312538 |
| Loss from operations | (175364827) | (1073199) | (106209552) | (2408364) |
| Other expense, net |  |  |  |  |
| Interest expense, net | (3604709) | (228111) | (6304092) | (518523) |
| Other income, net | 44606 | - | 336836 | - |
| Other expense, net | (3560103) | (228111) | (5967256) | (518523) |
| Loss on operations before income tax | (178924930) | (1301310) | (112176808) | (2926887) |
| Income tax benefit (expense) | - | - | - | - |
| **Net loss** | $(178924930) | $(1301310) | $(112176808) | $(2926887) |
| **Basic loss per share:** |  |  |  |  |
| Loss per share | $(2.94) | $(1.24) | $(1.93) | $(2.80) |
| **Diluted loss per share:** |  |  |  |  |
| Loss per share | $(2.94) | $(1.24) | $(1.93) | $(2.80) |
| Basic weighted average shares outstanding | 60829603 | 1045429 | 58085114 | 1045429 |
| Fully diluted weighted average shares outstanding | 60829603 | 1045429 | 58085114 | 1045429 |

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4<br>