Stablecoin Development Corporation Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Net income $50.4 million, or $0.23 per share, driven by SKY gains
- ➤SKY holdings reached 2.32 billion tokens, approximately 10% of total supply
- ➤Staking revenue totaled $2.1 million in the third quarter
- ➤ATM sales generated approximately $45.9 million after quarter end
- ➤SKY market value fell 13% to approximately $157.6 million by October 26
Expert Statements
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“Third quarter results reflect both drivers of our SKY position: price appreciation and staking rewards.”
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“The approximately 49% increase in the price of SKY during the quarter drove a $58.8 million non-cash unrealized gain and net income of $50.4 million, and our staked position earned 34.6 million SKY in rewards, bringing our holdings to 2.32 billion tokens, or approximately 10% of total supply.”
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“Our SKY holdings remain unencumbered.”
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“Subsequent to quarter end, we received approximately $45.9 million of net proceeds through our ATM Program, building on a balance sheet with no debt and no warrant liabilities.”
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“We believe the fundamentals of the Sky Protocol ecosystem remain attractive, and SDEV offers public market access to that ecosystem.”
Michael Kazley, Chief Executive Officer and Chairman of Stablecoin Development Corporation
“With no debt and a lean cost base, we believe we are positioned to continue executing with discipline and to evaluate opportunities, within the framework approved by our Board, that build long-term value for our shareholders.”
* Staking revenue of $2.1 million for the quarter and $6.8 million for the first nine months of 2026 * Net income of $50.4 million, or $0.23 per basic and diluted share, driven by a $58.8 million non-cash unrealized gain on digital assets as the price of SKY increased approximately 49% * SKY position grew to 2.32 billion tokens, representing approximately 10% of total SKY supply * Received approximately $45.9 million of net proceeds under the at-the-market offering program (the “ATM Program”) subsequent to quarter end; no debt and no warrant liabilities WEST PALM BEACH, Fla., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Stablecoin Development Corporation (NYSE American: SDEV) (the “Company” or “SDEV”), an on-chain holding company focused on long-duration participation in protocol-aligned digital asset ecosystems and providing public market access to the stablecoin economy, today reported financial results for the third quarter and nine months ended September 30, 2026. The Company filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission today.
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