Metaplanet Q1 profit jumps, but Bitcoin losses hit bottom line
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- Metaplanet posted a basic loss of $0.63 per share in Q1 FY2026, widening from a $0.078 loss a year earlier, while maintaining its 2026 outlook of $101 M net sales and $72 M operating profit.
- Metaplanet held 40,177 Bitcoin at quarter end, up from 35,102 in Dec 2025, after adding ~5,075 BTC via equity and Bitcoin‑backed borrowing, making it the third‑largest publicly listed Bitcoin treasury.
- Metaplanet’s Bitcoin holdings per share rose to 0.0247319 BTC, delivering a 2.8% BTC yield for the quarter, a KPI the company touts for shareholder value creation.
- Metaplanet’s total net assets fell to $2.60 bn from $2.96 bn as Bitcoin valuation losses outweighed equity raised, while short‑term borrowings rose to $302 m on its $500 m Bitcoin‑collateralized credit facility.
- The Block reported Metaplanet’s Q1 net loss of $725 M, attributing it to Bitcoin markdowns outweighing operating gains, and Decrypt noted the firm delayed its preferred‑share offering.
Why it matters: Investors see Metaplanet’s share price dip as Bitcoin devaluation cuts net assets by $360m, while the firm’s expanded BTC holdings and borrowing preserve its strategic position but delay equity financing, affecting shareholders and creditors.
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