AVAX One Reports Preliminary First Quarter 2026 Financial Results; Reiterates Full Year 2026 Guidance
Rhea-AI Summary
AVAX One (NASDAQ: AVX) reported preliminary Q1 2026 results with revenue of approximately $2.4 million, more than double Q4 2025. The company reports $27.2 million cash and says this funds operations for over three years without liquidating digital assets.
Operational highlights include a 10 MW Tier 3-ready LOI in Alberta targeting Q1 2027, ~250 PH/s Bitcoin mining capacity (expanding >300 PH/s), and a treasury of ~14.0 million AVAX with >90% staked at an ~6% annualized yield. Full-year 2026 guidance reiterated at $11M–$12M revenue at current spot prices.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 revenue ~$2.4M, >2x sequentially
- Cash balance $27.2M, >3 years operating runway stated
- Avalanche treasury ~14.0M AVAX with >90% staked (~6% yield)
- Bitcoin mining capacity ~250 PH/s, near-term >300 PH/s expected
- 10 MW Tier 3-ready LOI in Alberta targeting Q1 2027 readiness
Negative
- Full-year 2026 revenue guidance $11M–$12M at current spot below 2025 average scenarios
- Guidance shows material sensitivity to digital asset price assumptions across scenarios
News Market Reaction – AVX
On the day this news was published, AVX declined 4.90%, reflecting a moderate negative market reaction. Argus tracked a trough of -17.1% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $49.62M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 31 | Earnings results | Positive | -4.7% | Reported Q4 and 2025 results and reiterated 2026 revenue and EBITDA guidance. |
| Mar 02 | Prelim earnings | Positive | +0.1% | Released preliminary 2025 results and introduced 2026 revenue and EBITDA guidance. |
Earnings-related updates have produced mixed and generally muted single-day moves, with an average reaction of -2.29% despite guidance pointing to significant growth.
Over the last few months, AVAX One has repeatedly focused on its Avalanche-centric strategy and 2026 outlook. A preliminary 2025 update on Mar 02 introduced revenue of $2.3M and 2026 guidance of $11M–$44M with $2M–$25M EBITDA. On Mar 31, full Q4 and 2025 results detailed AVAX holdings of ~13,936,000, cash of $22.1M, and reiterated 2026 revenue of $11M–$12M and EBITDA of $2M–$3M. Today’s preliminary Q1 2026 results and reiterated guidance extend that same earnings narrative.
Historical Comparison
In the past few months, AVAX released 2 earnings updates with an average move of -2.29%. This preliminary Q1 2026 report, which reiterates 2026 guidance, fits into that same earnings-driven narrative.
Earnings updates have progressed from preliminary full-year 2025 metrics to detailed Q4 and 2025 results, and now to preliminary Q1 2026, while consistently reiterating the 2026 revenue and EBITDA guidance framework.
Market Pulse Summary
This announcement highlighted preliminary Q1 2026 revenue of $2.4M, a cash balance of $27.2M, and an annualized run rate above $11.0M, while reiterating 2026 revenue and EBITDA guidance ranges. It also advanced the 10 MW Tier 3-ready AI/HPC infrastructure initiative in Alberta and emphasized a staked AVAX treasury of about 14.0M tokens. Investors may focus on future quarterly results, execution milestones for the 2027 data center timeline, and sensitivity to digital asset pricing.
Key Terms
tier 3 technical
ai/hpc technical
bitcoin mining technical
staking technical
ebitda financial
AI-generated analysis. Not financial advice.
Preliminary Q1 2026 Revenue up more than 2x Sequentially to Approximately
Expansion into Tier 3 AI/HPC Data Center Infrastructure is Underway
WEST PALM BEACH, FL, April 23, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (Nasdaq: AVX) (“AVAX One” or the "Company"), today announced preliminary financial and operational results for the three months ended March 31, 2026.
Preliminary Q1 2026 Revenue and Liquidity Highlights
Based on preliminary results for the quarter ended March 31, 2026, the Company expects to report a revenue increase of more than double to
Operational Highlights
- Executed a Letter of Intent to develop an initial 10 MW Tier 3-ready AI/HPC powered land site in Alberta, with expected readiness for end-client deployment in Q1 2027, marking the Company’s formal expansion into data center infrastructure and positioning AVAX One to capitalize on accelerating demand for compute capacity and energy-advantaged digital infrastructure. The Company has already undertaken the next steps following the LOI and has initiated the formal due diligence process, including retention of counsel in Alberta, and is in the final stages of choosing the engineering firm for the project.
- Increased Bitcoin mining capacity to ~250 PH/s, with near-term expansion expected to exceed 300 PH/s within the next 30 days, reflecting continued investment in scalable, energy-efficient compute infrastructure.
- Expanded Avalanche digital asset treasury to approximately 14.0 million AVAX, with over
90% actively staked, generating a ~6% annualized yield and reinforcing the Company’s focus on yield-generating onchain assets. - Achieved a current annualized revenue run rate of over
$11.0 million , with more than$7.0 million from AVAX staking rewards and over$4.0 million from Bitcoin mining operations, based on current digital asset prices.
“Our first quarter results underscore the early success of our enhanced model that generates increased operating cash flows resulting from our diversified revenue strategy,” said Jolie Kahn, Chief Executive Officer of AVAX One. “Avalanche ranks among the most high-performing and scalable blockchain ecosystems worldwide, delivering compelling yields supported by structural scarcity from its capped supply and transaction fee burns. AVAX One was designed as the preeminent public gateway providing investors with direct, leveraged exposure to Avalanche’s continued expansion. By staking over
The Company continues to expand its development of the physical infrastructure required for digital compute, which is in high demand. AVAX One recently announced a Letter of Intent to develop a 10 MW Tier 3-ready powered land site in Alberta that utilizes natural gas generation behind-the-meter and is targeting Q1 2027 readiness. This investment allows the Company to own one of the critical constraints facing AI/HPC data center development: access to consistent power. The micro-grid, modular data center design powered by existing natural gas is in demand because of significantly shorter deployment timeframe, lower capital commitments, and ability to scale. Ultimately, this dual strategy positions AVAX One as one of the only publicly traded companies to own access to the scarce resources that are driving the future of digital finance and AI development.
Full Year 2026 Guidance
The Company is reiterating its previously issued guidance:
| ($ in Millions USD) | Current Spot Price1 | 2025 Avg. Price2 | 2025 High Price3 |
| Revenue | |||
| Change vs. prior year period | ~5x | ~10x | ~19x |
| EBITDA4 |
About AVAX One Technology Ltd.
AVAX One Technology Ltd. (NASDAQ: AVX) is the first publicly traded Avalanche Treasury company, building the premier institutional gateway to the onchain financial economy powered by the Avalanche blockchain network. Through AVAX accumulation, onchain yield, and strategic acquisitions, the Company aims to compound long-term value for its shareholders while supporting the growth of the Avalanche ecosystem. Led by a team of veterans from institutional finance and public company backgrounds and advised by leaders from across the digital asset industry, AVAX One is being built to be a scalable, regulated gateway for public market investors to participate in the growth of the onchain economy. For more information, visit www.avax-one.com.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating to the anticipated benefits and timing of the completion of the proposed offering and related transactions, the intended use of proceeds from the PIPE offering, expectations regarding future capital raising activity, the assets to be held by the Company, expectations regarding adoption of the Avalanche network, the expected future market, price and liquidity of the digital assets the Company acquires, the macro and political conditions surrounding digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other entities in similar business strategies, technological and market trends, future financial condition and performance, the expected financial impacts of the proposed transactions described herein, and the timing of the closing of the PIPE offering. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the proposed transactions described herein may not be completed in a timely manner or at all; failure to realize the anticipated benefits of the transactions and the proposed AVAX strategy; changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of AVAX and other cryptocurrencies; the risk that the price of the Company's securities may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company's filings with the SEC. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The statements made in this press release are not intended to be projections of the Company's future results nor an offer of a future securities transaction by the Company. Any offering in the future will be made through compliance with all applicable regulations and the filing of appropriate documents with the SEC, as required under those regulations.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
AVX@elevate-ir.com
Media Contact
Ethan Lyle
Prospero
avax-one@prospero.agency
Reconciliation of GAAP and Non-GAAP Information
($ in Millions, unaudited)
| Full Year 2026 Guidance Scenarios | ||||||||||||
| ($ in millions) | Current Spot Price | 2025 Avg. Price | 2025 High Price | |||||||||
| Revenue | $ | 11.4 | $ | 24.2 | $ | 43.3 | ||||||
| Total operating expenses | 10.6 | 14.9 | 20.3 | |||||||||
| Operating income | 0.9 | 9.4 | 23.0 | |||||||||
| Other expenses | 0.8 | 0.8 | 0.8 | |||||||||
| Net income from continuing operations | 0.1 | 8.6 | 22.3 | |||||||||
| EBITDA Adjustments: | ||||||||||||
| Depreciation and amortization | 1.3 | 1.3 | 1.3 | |||||||||
| Accretion of interest on debentures | 0.8 | 0.8 | 0.8 | |||||||||
| EBITDA | 2.2 | 10.7 | 24.3 | |||||||||
1 Assumes Bitcoin price of (
2 Assumes Bitcoin price of (
3 Assumes Bitcoin price of (
4 The tables at the end of this press release provide a reconciliation of non-GAAP financial measures to the Company’s expected results in accordance with GAAP. (See “Reconciliation of GAAP and non-GAAP Information” below).
