Nakamoto
Runs Bitcoin media, investment, and advisory businesses around a Bitcoin-treasury strategy.
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Profile
BTC Inc. supplies media and events, while UTXO Management adds Bitcoin investment capabilities. Consulting and advisory services operate beside a Bitcoin-centered balance-sheet strategy.
Operates Bitcoin-focused media and events through BTC Inc., including the Bitcoin Magazine and Bitcoin Conference properties. UTXO Management provides public- and private-market Bitcoin investment capabilities, while the company also offers consulting and advisory services.
These operating lines sit beside a balance-sheet strategy centered on Bitcoin and were assembled through the shift from healthcare operations into a Bitcoin-focused company. Legacy healthcare clinics ceased operations in June 2026, leaving administrative wind-down work.
The stated focus is Bitcoin-native institutional adoption, including planned products and services for corporate and government customers. The business depends on integrating the acquired operations and executing its media, asset-management and financial-services, and consulting-and-advisory verticals around the Bitcoin strategy.
Company facts
Key statistics
Year to date −54.1% · Average volume (30d) 172.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Sep 3, 2025 | Maxim Group | Target | $8 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.61 | −$6.56 | −984.3% | $17.6M | $35.9M | +103.6% | +2.23% |
| May 14, 2026Q1 FY26 | −$0.20 | −$15.20 | −7,500.0% | $5.9M | $2.7M | −54.5% | +2.17% |
| May 13, 2026Q1 FY26 | −$0.20 | −$15.20 | −7,500.0% | $5.9M | $2.7M | −54.5% | +8.24% |
| Mar 30, 2026Q4 FY25 | −$0.60 | −$2.80 | −366.7% | $400.0K | $444.9K | +11.2% | +5.24% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $580.0K | $408.5K | $388.2K | $444.9K | $2.7M | $35.9M | |
| Gross profit | −$431.0K | $401.0K | $386.2K | −$10.6M | −$4.9M | $20.7M | |
| Operating income | −$1.0M | −$2.4M | −$10.4M | −$183.3M | −$126.2M | $4.0M | |
| Net income | −$1.0M | −$2.4M | −$86.0M | $37.3M | −$238.8M | −$133.0M | |
| Diluted EPS | −$0.17 | −$0.35 | −$16.80 | $2.80 | −$15.20 | −$6.65 | |
| Gross margin | -74.3% | 98.2% | 99.5% | -2,388.2% | -183.0% | 57.8% | |
| Operating margin | -179.7% | -585.4% | -2,680.4% | -41,198.2% | -4,711.4% | 11.2% |
Fiscal years (4-quarter sums)FY22 $3.8M · FY23 $3.8M · FY24 $2.7M · FY25 $1.8M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $19.1M · Total debt $164.7M · Total assets $422.5M · Shareholders' equity $236.4M
Dividends
No dividends on record.
Ownership
Shares outstanding 17.40M · Float 10.75M · 61.8% free float
A split settled inside the quarter being compared, so quarter-on-quarter change is not shown.
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| David F. Bailey · director, 10 percent owner, officer: Chief Executive Officer | 3.18M | 18.25% | Form 4 | Aug 25, 2026 |
| Bailey Calli Sullivan · 10 percent owner | 2.47M | 14.18% | Form 4 | Aug 27, 2026 |
| UBS Group AG | 617.3K | 3.55% | 13F | Aug 13, 2026 |
| Tyler Matthew Evans · director, officer: Chief Investment Officer | 577.7K | 3.32% | Form 4 | Aug 25, 2026 |
| Alyeska Investment Group, L.P. | 333.7K | 1.92% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | David F. Bailey | director, 10 percent owner, officer: Chief Executive Officer | +4,852 | $6.27 |
| Aug 19, 2026 | David F. Bailey | director, 10 percent owner, officer: Chief Executive Officer | +32,134 | $5.59 |
| Aug 18, 2026 | David F. Bailey | director, 10 percent owner, officer: Chief Executive Officer | +4,918 | $5.12 |
| May 26, 2026 | David F. Bailey | director, 10 percent owner, officer: Chief Executive Officer | +31,500 | $5.58 |
| May 27, 2026 | David F. Bailey | director, 10 percent owner, officer: Chief Executive Officer | +104,833 | $4.84 |
Peers
- Strategy
Bitcoin treasury and capital-markets financing
- Galaxy Digital
Digital-asset asset management and institutional advisory
- Bullish
Bitcoin media, events, market data, and institutional services
- Twenty One Capital
Bitcoin treasury, financial services, and capital-markets platform
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nakamoto | $7.44 | −0.71% | $129.5M | — | — | 3.3 | +8,867.3% |
| Strategy | $127.88 | +0.46% | $42.12B | — | 3.7 | 84.5 | +6.9% |
| Galaxy Digital | $23.29 | +0.30% | $7.70B | — | — | 0.1 | +0.6% |
| Bullish | $32.60 | −0.84% | $4.99B | — | 54.5 | 0.0 | −99.8% |
| Twenty One Capital | $6.12 | +1.83% | $61.9M | — | — | — | — |
| Median | — | 29.1 | 0.1 | +0.6% |