# Upexi, Inc. (UPXI)

> Source: Nexqual · https://nexqual.com/UPXI · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Upexi, Inc. (UPXI), nexqual.com/UPXI" · informational, not investment advice.

**Price:** USD 0.77 (-4.40% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 0.8 · day 0.76–0.82 · 52w 0.54–5.25 · market cap $62.9M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $25.0M, net income -$246M (-984.3% margin) (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 2 (range 2–2).
- Total return with dividends: 1Y -84.4% vs S&P 500 +13.4%; 5Y -99.3% vs S&P 500 +76.9%.
- Next earnings: 2026-11-11, EPS estimate USD -0.23, revenue estimate $4.2M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $23.1M | $36.4M | $26.0M | $15.8M | $25.0M | $25.0M |
| Gross profit | $14.9M | $21.0M | $12.8M | $10.9M | $22.4M | — |
| Operating income | -$6.5M | -$12.3M | -$22.5M | -$12.5M | -$241M | -$241M |
| Net income | -$2.0M | -$17.5M | -$23.7M | -$13.7M | -$246M | -$246M |
| EPS (diluted) | -$8.60 | -$18.94 | -$23.03 | -$1.73 | -$3.87 | — |
| Free cash flow | -$5.6M | -$735K | -$1.0M | -$8.8M | -$21.0M | -$21.0M |
| Gross margin | 64.5% | 57.7% | 49.3% | 68.7% | 89.5% | — |
| Operating margin | -28.1% | -33.7% | -86.4% | -79.1% | -963.5% | -963.5% |
| Net margin | -8.9% | -48.0% | -91.0% | -86.5% | -984.3% | -984.3% |
| Revenue growth | -4.3% | +58.0% | -28.7% | -39.2% | +58.1% | — |
| Cash + short-term investments | $7.1M | $4.6M | $661K | — | — | — |
| Total debt | $3.2M | $27.7M | $1.6M | $20.0M | $182M | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.5x · FCF yield -33.41% · Earnings yield -391.46%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 2 (low 2, high 2).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-18 | Cantor Fitzgerald | Reiterated | Overweight | $2 |
| 2026-09-10 | Cantor Fitzgerald | Target raised | Overweight | $1.3 → $2 |
| 2026-07-01 | Cantor Fitzgerald | Target lowered | Overweight | $2 → $1.3 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -84.4% | -99.3% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -84.5% | -63.5% |
| Volatility (annualized) | 116.7% | 150.6% |
| Max drawdown | -88.6% (Oct 2025→Feb 2026) | -99.5% (Oct 2021→Feb 2026) |

## Peers (Internet Content & Information)
UPWK (Upwork Inc.) USD 9.48 +0.96% · WBTN (WEBTOON Entertainment Inc.) USD 9.45 -0.53% · WB (Weibo Corporation) USD 6.2 -1.90% · OPRA (Opera Limited) USD 17.35 -2.20% · GENI (Genius Sports Limited) USD 6.33 -3.21% · DJT (Trump Media & Technology Group ) USD 6.4 -3.18%

## More
Full page: https://nexqual.com/UPXI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in UPXI's own 10-K filed 2026-09-17 (https://www.sec.gov/Archives/edgar/data/1775194/000147793226005668/upxi_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | BitGo Trust Company | "On May 1, 2025, we entered into a Custodial Services Agreement with BitGo (the "BitGo Agreement") to hold our digital currency." |
| Partner | Amazon (AMZN) | "We reach consumers through our direct-to-consumer network, wholesale partnerships, and major third-party platforms like Amazon." |
| Partner | Merchant | "On April 1, 2024, the Company entered into a lease agreement with MFA 2510 Merchant LLC, which is owned by our CEO, Allan Marshall." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.23 | $-0.11 | +109.1% | $4.2M | 1 |
| Next quarter (ends 2026-12-31) | $-0.19 | $-0.10 | +90.0% | $5.6M | 1 |
| Current fiscal year (ends 2027-06-30) | $-0.43 | $-0.17 | +160.6% | $26.7M | 1 |
| Next fiscal year (ends 2028-06-30) | $-0.13 | $0.00 | — | $43.6M | 1 |