ALT5 Sigma | 10-K: FY2025 Revenue: USD 24.84 M

Revenue: As of FY2025, the actual value is USD 24.84 M.

EPS: As of FY2025, the actual value is USD -5.91.

EBIT: As of FY2025, the actual value is USD -428.26 M.

Consolidated Financial Performance

• Revenue: Increased to $24,840 thousand in fiscal year 2025 from $11,887 thousand in fiscal year 2024, an increase of approximately $13.0 million, primarily due to acquisitions.
• Cost of Revenue: Increased to $14,652 thousand in fiscal year 2025 from $6,238 thousand in fiscal year 2024.
• Gross Profit: Increased to $10,188 thousand in fiscal year 2025 from $5,649 thousand in fiscal year 2024, an increase of approximately $4.6 million, also driven by acquisitions.
• Operating Loss: Increased to -$22,851 thousand in fiscal year 2025 from -$6,923 thousand in fiscal year 2024.
• Selling, General and Administrative Expenses: Increased to $33,039 thousand in fiscal year 2025 from $12,572 thousand in fiscal year 2024, primarily due to acquisitions, higher bad debt and legal expenses, and increased stock-based compensation.
• Interest Expense, Net: Increased to -$3,869 thousand in fiscal year 2025 from -$1,159 thousand in fiscal year 2024, mainly due to acquisitions and higher average debt balances.
• Unrealized Loss on Cryptocurrency Assets: -$402,054 thousand was recorded in fiscal year 2025 due to the mark-to-fair-value adjustment for WLFI tokens.
• Net Loss: Increased significantly to -$344,507 thousand in fiscal year 2025 from -$7,568 thousand in fiscal year 2024.

Adjusted EBITDA (Non-GAAP)

• Total Adjusted EBITDA: Decreased by approximately $13.9 million to -$15,429 thousand in fiscal year 2025 from -$1,509 thousand in fiscal year 2024.
• Fintech Adjusted EBITDA: -$2,611 thousand in fiscal year 2025.
• Biotech Adjusted EBITDA: -$1,969 thousand in fiscal year 2025.
• Corporate and Other Adjusted EBITDA: -$10,849 thousand in fiscal year 2025.

Fintech Segment

• Revenue: Approximately $24.8 million in fiscal year 2025.
• Gross Margin Percentage: 41.0% in fiscal year 2025, compared to 48% in fiscal year 2024.
• Operating Loss: Approximately -$6.2 million in fiscal year 2025, compared to an operating income of $193 thousand in fiscal year 2024.

Biotechnology Segment (Discontinued Operations)

• Revenue: No revenue generated in fiscal years 2025 and 2024.
• Selling, General and Administrative Expenses: Increased to $3,898 thousand in fiscal year 2025 from $2,148 thousand in fiscal year 2024, due to increases in professional fees and research and development costs.
• Operating Loss: -$3,898 thousand in fiscal year 2025, compared to -$2,148 thousand in fiscal year 2024.
• Net (Loss) Income from Discontinued Operations: -$3,021 thousand in fiscal year 2025, compared to $733 thousand in fiscal year 2024.

Corporate and Other Segment

• Revenue: No revenue generated in fiscal years 2025 and 2024.
• Selling, General and Administrative Expenses: Increased to $16,669 thousand in fiscal year 2025 from $7,116 thousand in fiscal year 2024, due to increased stock-based compensation, legal expenses, and other professional services.
• Operating Loss: -$16,669 thousand in fiscal year 2025, compared to -$7,116 thousand in fiscal year 2024.
• Cryptocurrency Assets: The segment holds approximately 7.3 billion WLFI tokens with a fair value of approximately $1.05 billion as of December 27, 2025.

Liquidity and Capital Resources

• Cash on Hand: Approximately $6.2 million as of December 27, 2025.
• Cash Used in Operations: Approximately -$7.2 million in fiscal year 2025, compared to cash provided by operations of approximately $1.8 million in fiscal year 2024.
• Cash Used in Investing Activities: Approximately -$706.6 million in fiscal year 2025, primarily due to the purchase of WLFI tokens, partially offset by redemptions.
• Cash Provided by Financing Activities: Approximately $716.8 million in fiscal year 2025, mainly from equity financing proceeds and notes payable, offset by fees and payments on notes.
• Working Capital Deficit: Approximately -$21.9 million as of December 27, 2025, with total current assets of $29.5 million and total current liabilities of $51.4 million.

Outlook / Guidance

ALT5 Sigma Corporation intends to raise additional funds to support the future development of JAN123 for its Biotechnology segment, potentially through capital raises or structured arrangements. The company plans to capitalize its subsidiary Alyea with biotechnology assets, acquire an additional asset, and then finance Alyea to operate on a stand-alone basis. Management believes its WLFI token holdings represent a significant financial resource that can be monetized for liquidity, operations, or strategic initiatives, subject to market conditions.