SkyAI Sold $12.5M of SOL at 54% Loss; Working Capital Falls

SkyAI sold 135,399 SOL for $12.47 million in the first half of 2026, at an average sale price of about $92.09 per token and an average cost basis near $200.79. The transactions produced a realized loss of roughly $14.72 million and working capital fell to $12.63 million from $14.19 million over the same period.

For the six months ended June 30, the company recorded an $84.34 million unrealized digital-commodity loss driven by changes in fair value. The unrealized loss attributable to the second quarter totaled $13.49 million. On a carrying basis, SkyAI’s digital-commodity holdings were $144.28 million on June 30, down from $250.11 million at the end of 2025.

Net cash used in continuing operations was about $5.67 million for the half. The company repaid a $3.08 million margin loan during the period and spent $2.01 million on share repurchases. SkyAI reported ending June with $12.07 million in cash and positive working capital after the loan repayment. The balance sheet showed roughly $3.07 million of liabilities, including trade, accrued, warrant and lease obligations.

Revenue from the Sologard product line was $192,780 in the first half of 2026. Net staking revenue totaled $5.46 million. Selling, general and administrative expenses reached $10.22 million for the six months. The company disclosed $5 million in related-party consulting fees for the period.

At June 30, SkyAI held 1,494,026 liquid SOL and 509,650 locked SOL, with the locked balance scheduled to vest through the end of 2028. The company reported that most of its treasury was staked during the period, increasing on-chain receipts but leaving the token balance largely as a funding reserve rather than immediately available cash for expenses.

An Aug. 7 SEC filing states the company may address working-capital needs by selling additional SOL, issuing equity, or pursuing traditional financing until operating cash flow is sufficient to fund operations.

Market conditions affected the treasury value. SOL traded near $77 in early August, about 49% below its level a year earlier, which amplified fair-value declines on the company’s digital-commodity holdings. The filing leaves open the option of further treasury sales if additional liquidity is required.