10-Q · May 8, 2026
Empery Digital Inc. reported a significant net loss of $85.4 million for Q1 2026, primarily driven by a $78.4 million loss on digital assets. Revenue declined sharply to $225.7 million from $462.3 million in the same…
Earnings analysis · 10-Q
EMPD earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
The extracted filing does not include the income statement, balance sheet, cash-flow statement, or segment results, so current-period revenue, margins, EPS, free cash flow, and balance-sheet trends cannot be assessed.…
Read full summary
The extracted filing does not include the income statement, balance sheet, cash-flow statement, or segment results, so current-period revenue, margins, EPS, free cash flow, and balance-sheet trends cannot be assessed. The filing highlights a major strategic shift toward data-center investments, including a $20.0 million CDP investment and a potential $62.1 million additional EMHU contribution, but these investments are capital-intensive and controlled by minority partners. Sentiment is bearish because disclosure controls were deemed ineffective as of June 30, 2026, Venom defaulted on financed inventory obligations with $2,122,537 of related reserves, and governance litigation remained unresolved after the August 5, 2026 trial.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Expanded data-center investment platform
The company expanded its data-center investment strategy through a $2.9 million initial contribution for a 25% interest in EMHU and a $20.0 million investment for an approximately 8% interest in CDP.
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Share repurchases continued
The company repurchased 2,109,248 shares during the three months ended June 30, 2026, at an average price of $4.62 per share.
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Remaining repurchase capacity
The stock-repurchase program had $50.3 million of remaining authority as of August 6, 2026, providing continued capital-allocation flexibility.
What to watch
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Material weakness in disclosure controls
Management concluded that disclosure controls were not effective as of June 30, 2026, citing previously missed timely filings and the lack of implemented and tested remediation procedures.
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Venom financing default
The company disclosed that Venom cannot repay financed amounts as of June 30, 2026, and reserved $2,026,087 for financing receivables plus $96,450 for inventory deposits. Recovery of these amounts is uncertain.
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Capital-intensive minority investments
The new data-center strategy requires substantial capital and includes a committed further EMHU contribution of $62.1 million. The company also has only minority interests, including 25% of EMHU and approximately 8% of CDP, limiting operational control and increasing execution risk.
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Active Delaware governance litigation
The Delaware stockholder litigation seeks, among other relief, to undo the rejection of director nominations and challenge the March 2026 equity issuance and a rights plan with a 12.5% ownership trigger; the trial concluded on August 5, 2026, with no date set for final closing briefs.
Management's outlook
No quantitative revenue or EPS outlook was provided in the extracted 10-Q. The filing discusses strategic data-center investments, including a $62.1 million potential additional EMHU contribution and a $20.0 million CDP investment, but does not provide company-level financial guidance.
Earlier filings 4
10-K · April 21, 2026
The filing (Form 10-K/A) documents a governance-focused amendment that fills Part III disclosures and highlights a major July 2025 strategic pivot: appointment of co‑CEOs and a digital-asset treasury strategy supported…
10-K · March 27, 2026
Empery Digital has shifted from vehicle manufacturing to a digital-asset-treasury strategy, deploying proceeds from $501.0 million of private placements (net $452.0 million) to acquire Bitcoin and launch treasury…
10-Q · November 12, 2024
Volcon reported quarterly revenue of $1,075,864 (up from $487,430 a year ago) but generated a gross loss of $9,218,856 and a net loss of $13,638,478 for the three months ended September 30, 2024. The company raised…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.