The company has reported zero revenue for multiple consecutive quarters while maintaining significant SG&A expenses that averaged approximately $2.8 million per quarter throughout 2026.
| Sales/Revenue | 0 | 0 | 65.3M | 48.82M | 40.7M | 34.8M |
| Revenue Growth % | - | -100% | 33.76% | 19.95% | 16.96% | - |
| Cost of Goods Sold | 0 | 368K | 0 | 0 | 0 | 1.41M |
| COGS % of Revenue | - | - | - | - | - | 4.05% |
| Gross Profit | 0 | -368K | 65.3M | 48.82M | 40.7M | 33.39M |
| Gross Margin % | - | - | 100% | 100% | 100% | 95.95% |
| Gross Profit Growth % | - | -100.56% | 33.76% | 19.95% | 21.89% | - |
| Operating Expenses | 12.73M | 17.09M | 50.76M | 85.58M | 116.18M | 93.81M |
| OpEx % of Revenue | - | - | 77.73% | 175.31% | 285.48% | 269.61% |
| Selling, General & Admin | 11.93M | 13.53M | 23.3M | 33.13M | 30.54M | 24.41M |
| SG&A % of Revenue | - | - | 35.68% | 67.87% | 75.04% | 70.16% |
| Research & Development | 169K | 3.92M | 16.56M | 52.45M | 85.64M | 69.4M |
| R&D % of Revenue | - | - | 25.36% | 107.44% | 210.44% | 199.44% |
| Other Operating Expenses | 631K | -368K | 10.9M | 0 | 0 | 0 |
| Operating Income | -12.73M | -17.45M | 14.54M | -36.76M | -75.48M | -60.42M |
| Operating Margin % | - | - | 22.27% | -75.31% | -185.48% | -173.65% |
| Operating Income Growth % | - | -220.03% | 139.56% | 51.3% | -24.92% | - |
| EBITDA | -12.1M | -17.09M | 14.93M | -36.38M | -75.16M | -60.14M |
| EBITDA Margin % | - | - | 22.86% | -74.52% | -184.68% | -172.83% |
| EBITDA Growth % | 57.47% | -214.49% | 141.03% | 51.6% | -24.97% | - |
| D&A (Non-Cash Add-back) | 0 | 368K | 383K | 386K | 326K | 285K |
| EBIT | -12.1M | -17.45M | 25.44M | -36.76M | -75.48M | -41.31M |
| Net Interest Income | 404K | 1.03M | 3.28M | 3.35M | 284K | 510K |
| Interest Income | 404K | 1.03M | 3.28M | 3.35M | 284K | 510K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -48.09M | 1.51M | 3.24M | 4.93M | 21.03M | 19.12M |
| Pretax Income | -60.82M | -15.95M | 17.78M | -31.84M | -54.45M | -41.31M |
| Pretax Margin % | - | - | 27.23% | -65.22% | -133.8% | -118.71% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 8K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | -0.02% |
| Net Income | -60.82M | -15.95M | 17.78M | -31.84M | -54.45M | -41.31M |
| Net Margin % | - | - | 27.23% | -65.22% | -133.8% | -118.73% |
| Net Income Growth % | -59.58% | -189.69% | 155.84% | 41.53% | -31.81% | - |
| Net Income (Continuing) | -60.82M | -15.95M | 17.78M | -31.84M | -54.45M | -41.31M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -9.13 | -2.39 | 2.67 | -4.78 | -9.99 | -12.00 |
| EPS Growth % | -59.62% | -189.51% | 155.86% | 52.15% | 16.75% | - |
| EPS (Basic) | - | -2.39 | 2.67 | -4.78 | -10.04 | -12.21 |
| Diluted Shares Outstanding | 6.66M | 6.66M | 6.66M | 6.66M | 6.26M | 5.72M |
| Basic Shares Outstanding | 6.66M | 6.66M | 6.66M | 6.66M | 6.22M | 5.63M |
| Dividend Payout Ratio | - | - | 65.59% | - | - | - |
Existential cash burn risk
As indicated by the most recent financial statements, Lite Strategy has reported zero revenue for multiple consecutive quarters, confirming a complete cessation of its legacy pharmaceutical operations and a total lack of current commercial activity following its strategic pivot toward the digital asset management sector.
The transition from a clinical-stage pharmaceutical entity to a crypto-focused shell has effectively eliminated the company's top-line. Investors should note that the absence of revenue suggests the firm is currently operating as a pre-revenue entity, relying entirely on its remaining cash reserves to fund corporate overhead.
According to quarterly income statement data, the company continues to incur significant SG&A expenses, averaging approximately $2.8 million per quarter in 2026, which highlights a persistent cost structure that remains disconnected from the firm's current lack of revenue-generating activities or functional business operations.
The persistence of high SG&A costs relative to zero revenue suggests that the company is maintaining a corporate infrastructure that may be disproportionate to its current needs. This expense discipline warrants further investigation, as the ongoing burn rate directly threatens the remaining $18 million cash runway.
Based on reported figures, the company's net income remains deeply negative, with a $23.7 million loss in 2026Q3, suggesting that non-operating items or legacy wind-down costs are significantly impacting the bottom line and obscuring the true economic cost of the current strategic transition.
The volatility in net income, including the substantial loss in 2026Q3, appears to reflect the complex accounting associated with abandoning clinical-stage assets. Analysts should monitor whether these losses represent one-time restructuring charges or ongoing operational inefficiencies that could further erode the company's limited capital base.
While the company has successfully preserved approximately $18 million in cash, as noted in recent filings, the lack of a clear path to revenue generation suggests that this capital may be insufficient to cover the regulatory and operational costs of entering the competitive crypto-asset management industry.
Short-term observers might focus on the cash balance as a floor for valuation, but this ignores the potential for significant tail liabilities associated with the firm's pharmaceutical past. The absence of a proven business model suggests that the current cash position may be depleted by overhead before any meaningful pivot is achieved.
Quick answers to the most common questions about buying LITS stock.
For fiscal year 2025, Lite Strategy, Inc. (LITS) reported total revenue of $0.0M. This represents a 100.0% decline compared to $34.8M in 2021.
Lite Strategy, Inc. (LITS) reported a net loss of $15.9M for the fiscal year ending 2025.