Strive Asset Management (ASST) Q4 2025 earnings summary

Executive summary

• Accumulated 13,628 bitcoin as of March 17, 2026, through PIPE proceeds, exchange, acquisition, and capital markets activity.

• Achieved Bitcoin Yield of 22.2% in Q4 2025 and 13.8% QTD in Q1 2026.

• Completed acquisition of Semler Scientific, integrating its 5,048 bitcoin and launching Clinivanta for preventative healthcare.

• Raised significant capital via SATA Stock offerings and invested $50 million in STRC Stock.

Financial highlights

• GAAP net loss of $393.6 million from September 12 to December 31, 2025; $194.5 million due to fair value decrease in bitcoin holdings.

• Non-GAAP adjusted net loss attributable to common stockholders of $208.2 million, or $4.73 per diluted share, with 93.4% from bitcoin fair value decrease.

• Cash and cash equivalents totaled $83.7 million as of March 17, 2026.

• Bitcoin $ Gain of $114.3 million in Q4 2025 and $78.2 million QTD in Q1 2026.

Outlook and guidance

• Focused on building a track record for SATA, maintaining a stable trading range, and a strong balance sheet to generate long-term returns above the Bitcoin hurdle rate.

• Sees a multi-trillion dollar opportunity for digital credit to scale in coming years.