Stablecoin Development Corp (NBY) Form 8-K — May 20, 2026
Stablecoin Development Corp (SDEV) reported Q1 2026 operating income of $22.3 million, a significant turnaround from an operating loss of $3.3 million in the same period last year. This improvement was driven by $2.5 million in staking revenue and a $22.7 million unrealized gain on its digital asset holdings, primarily SKY tokens. The company reported GAAP net income of $552.4 million, but this figure is heavily distorted by non-cash warrant accounting effects, including a $5.8 billion gain and a $5.3 billion loss related to warrant liabilities.
Key figures
- Net Income
- 552400000
- Total Assets
- 179700000
- Cash Position
- 18400000
- Staking Revenue
- 2500000
- Operating Income
- 22300000
- Digital Assets Value
- 160100000
- Unrealized Gain Digital Assets
- 22700000
- Susds Deposits
- 6500000000
- Usds Dai Supply
- 11700000000
- Total SKYSupply
- 23500000000
- Sky Tokens Held Q1
- 2153141678
- Sky Supply Percent
- 9%
- Sky Token Cost Basis
- 137400000
- Sky Token Fair Value
- 160100000
- Protocol Net Surplus
- 46000000
- Sky Tokens Held May14
- 2260000000
- Atm Remaining Capacity
- 85700000
- Protocol Gross Revenue
- 123800000
- Additional SKYPurchases
- 86500000
- Sky Tokens Earned Staking
- 35386649
- Protocol Total Collateral
- 13000000000
- Additional SKYPurchase Cost
- 6500000
Price after filing
Close on the filing date to close N calendar days later (from $1.52). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.