Stablecoin Development Corporation Reports First Quarter 2026 Financial Results
Stablecoin Development Corporation reported Q1 2026 operating income of $22.3 million, a turnaround from a $3.3 million operating loss in the prior year, driven by $2.5 million in staking revenue and $22.7 million in unrealized gains on its SKY token holdings. GAAP net income was reported at $552.4 million, but this figure is dominated by non-cash warrant accounting effects, including a $5.8 billion gain and a $5.3 billion loss on warrant liabilities, which management explicitly states should be viewed separately from operating performance.
Key figures
- Revenue
- 2500000
- Net income
- 552400000
- Operating income
- 22300000
- Total assets
- 179700000
- Atm remaining
- 85700000
- Sky cost basis
- 137400000
- Susds deposits
- 6500000000
- Gaap net income
- 552400000
- Staking revenue
- 2500000
- Usds dai supply
- 11700000000
- Sky tokens held q1
- 2153141678
- Protocol collateral
- 13000000000
- Subsequent buy cost
- 6500000
- Cash and equivalents
- 18400000
- Digital assets value
- 160100000
- Protocol net surplus
- 46000000
- Non cash warrant gain
- 5800000000
- Non cash warrant loss
- 5300000000
- Sky supply percentage
- 9%
- Sky tokens held may14
- 2260000000
- Protocol gross revenue
- 123800000
- Sky staking rewards tokens
- 35386649
- Unrealized gain digital assets
- 22700000
AI analysis
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