Strive, Inc. Announces Third Quarter 2026 Financial Results

DALLAS, TX—(GLOBE NEWSWIRE)—November 6, 2026 - Strive, Inc. (Nasdaq: ASST; SATA; SATS) (“Strive” or the

“Company”) today announced its financial results for the third quarter ended September 30, 2026.

Key Highlights:

• Acquired a total of 8,136 bitcoin during the third quarter ended September 30, 2026 and 20,373 bitcoin during the nine

months ended September 30, 2026.

• Acquired an additional 15,124 bitcoin during the period from October 1, 2026 through October 30, 2026.
• Achieved the following Bitcoin accumulation results:
• As of October 30, 2026, Strive's cash and cash equivalents totaled $490.4 million and our position in Variable Rate Series

A Perpetual Preferred Stock of Strategy Inc. ("STRC Stock") had a fair value of $50.1 million. Strive had 118,117,620

and 9,213,489 shares of Class A common stock and Class B common stock, respectively, and 14,030,176 and 7,003,418

shares of Variable Rate Series A Perpetual Preferred Stock ("SATA Stock") and 15.00% Series A Perpetual SATS

Preferred Stock ("SATS Stock"), respectively, outstanding as of October 30, 2026.

• On October 20, 2026, completed a registered public offering of 7,000,000 shares of its SATS Stock, for net proceeds of

approximately $609.0 million, after deducting the underwriting discounts and commissions. The SATS Stock is listed for

trading on the Nasdaq Global Market under the symbol “SATS.”

• GAAP net income of $509.0 million for the three months ended September 30, 2026. Net income per common share for

the same period was $5.24 on a fully diluted basis.

• Non-GAAP adjusted net income attributable to common stockholders1 of $494.6 million, or $5.46 per diluted common

share1, for the three months ended September 30, 2026. Non-GAAP adjusted net income attributable to common

stockholders subtracts non-recurring and non-cash items from GAAP net loss attributable to common stockholders.

• As part of its overall investment strategy, the Company is evaluating various opportunities to leverage its balance sheet,

including banking, brokerage, decentralized finance, reinsurance, structured ABS, and tokenization, among other

opportunities, taking into account underwriting conditions, tax implications, regulatory considerations, alignment with its

broader investment objectives, and other relevant factors.

"Strive has continued to successfully execute on its treasury management strategy, delivering a strong bitcoin yield year to date in

2026, which I believe is the primary driver of our common equity's outperformance relative to Bitcoin so far this year," said

Matthew Cole, Chairman & Chief Executive Officer of Strive, Inc. "With the recent issuance of SATS, we believe Strive has never

been in a better position to generate long-term returns in excess of Bitcoin for our common equity shareholders."

STRIVE, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(in thousands, except share and per share data)

STRIVE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

(unaudited)

(1) Basic and diluted earnings per common share for Class A and Class B common stock are the same.

STRIVE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

(1) Basic and diluted earnings per common share for Class A and Class B common stock are the same.

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures, consisting of non-GAAP adjusted net income (loss), non-

GAAP adjusted net income (loss) attributable to common stockholders and non-GAAP adjusted net income (loss) attributable to

common stockholders per diluted common share. Non-GAAP financial measures are subject to material limitations as they are not

measurements prepared in accordance with GAAP and are not a substitute for such measurements. Our non-GAAP financial

measures are not meant to be considered in isolation and should be read only in conjunction with our consolidated financial

statements, which have been prepared in accordance with GAAP. We rely primarily on such consolidated financial statements to

understand, manage, and evaluate our business performance and use the non-GAAP financial measures as supplemental

information. Reconciliations of reported GAAP historic measures to adjusted non-GAAP measures are included in the financial

schedules contained in this press release.

Non-GAAP adjusted net income (loss)

Non-GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable to common stockholders, and the

related non-GAAP adjusted net income (loss) per diluted common share excludes the impact of (i) share-based compensation

expense, (ii) depreciation and amortization, (iii) change in fair value on long-term notes payable, at fair value, (iv) loss on

extinguishment of debt, (v) loss on change in fair value of bitcoin held as collateral under Coinbase Loan, (vi) transaction costs,

(vii) bargain purchase gain, (viii) other investment gain (loss), (ix) other derivative loss, (x) impairment of medical device

research and development intangible asset, and (xi) goodwill and intangible asset impairment. We believe these measures offer

management and investors insight as they exclude significant non-cash and/or non-recurring items. The following provides GAAP

measures of net loss, net loss attributable to common stockholders, and net loss per diluted common share and the details with

respect to reconciling the line items to non-GAAP adjusted net income (loss), non-GAAP adjusted net income (loss) attributable

to common stockholders, and non-GAAP adjusted net income (loss) per diluted common share (all amounts in thousands, other

than share and per share information):

Important Information About Other Metrics

Bitcoin Yield is a metric that represents the percentage change in bitcoin per share from the beginning of a period to the end of a

period.

Bitcoin Gain per ADSO is a metric that represents, in SATs, the increase in the number of bitcoin held per assumed fully diluted

share outstanding over the representative period. The metric is calculated multiplying the number of SATs at the beginning of the

period by the Bitcoin Yield for such period, which is then divided by the number of assumed fully diluted shares outstanding at

the beginning of such period.

Bitcoin $ Gain per ADSO is a metric that represents the dollar value of the Bitcoin Gain per ADSO calculated by multiplying the

Bitcoin Gain per ADSO by the market price of bitcoin at the end of the period. For determining Bitcoin $ Gain per ADSO, unless

otherwise specified, the Company uses the current market price of bitcoin. For determining Bitcoin $ Gain for a past fiscal year or

other past period, the Company uses the market price of bitcoin as of 4:00pm ET as reported on the Coinbase exchange on the last

day of the applicable period. The Company uses these market prices of bitcoin for this calculation solely for the purpose of

facilitating this illustrative calculation.

The Company uses Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO as metrics to help assess the

performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to stockholders. The Company

believes these metrics can supplement investors’ understanding of how the Company chooses to fund bitcoin purchases and the

value created in a period by:

• in the case of Bitcoin Yield, measuring the percentage change in bitcoin per share from the beginning of a period to the

end of a period, which helps investors assess how the Company’s achievement of its strategy of acquiring bitcoin in an

accretive manner varies across periods;

• in the case of Bitcoin Gain per ADSO, hypothetically expressing the percentage change reflected in the Bitcoin Yield

metric as if it reflected an increase in the amount of bitcoin held for each assumed diluted common share at the end of the

applicable period as compared to the beginning of such period, which provides investors with visibility into the absolute

change in the Company’s bitcoin holdings per common shareholder resulting from its Bitcoin Yield; and

• in the case of Bitcoin $ Gain, further expressing that change as an illustrative dollar value by multiplying that bitcoin-

denominated change by the market price of bitcoin at the end of the applicable period as described above.

When the Company uses these metrics, management takes into account the various limitations of these metrics, including that

they do not take into account that our assets, including our bitcoin, are subject to (i) all of our existing and future liabilities,

including our debt, and (ii) the preferential rights of our preferred stockholders to dividends and our assets in a liquidation, and

that all such claims rank senior to those of our common equity; and

Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are not, and should not be understood as, financial

performance, valuation or liquidity measures. Specifically:

• Bitcoin Yield is not equivalent to “yield” in the traditional financial context. It is not a measure of the return on

investment the Company’s stockholders may have achieved historically or can achieve in the future by purchasing stock

of the Company, or a measure of income generated by the Company’s operations or its bitcoin holdings, return on

investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets.

• Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO are not equivalent to “gain” in the traditional financial context.

They also are not measures of the return on investment the Company’s stockholders may have achieved historically or

can achieve in the future by purchasing stock of the Company, or measures of income generated by the Company’s

operations or its bitcoin holdings, return on investment on its bitcoin holdings, or any other similar financial measure of

the performance of its business or assets. It should also be understood that Bitcoin $ Gain does not represent a fair value

gain of the Company’s bitcoin holdings, and Bitcoin $ Gain may be positive during periods when the Company has

incurred fair value losses on its bitcoin holdings.

The trading price of the Company’s Class A common stock is informed by numerous factors in addition to Company’s bitcoin

holdings and its actual or potential shares of Class A common stock outstanding, and as a result, the trading price of the

Company’s securities can deviate significantly from the market value of the Company’s bitcoin, and none of Bitcoin Yield,

Bitcoin Gain per ADSO or Bitcoin $ Gain per ADSO are indicative or predictive of the trading price of the Company’s securities.

Investors should rely on the financial statements and other disclosures contained in the Company’s SEC filings. In particular, the

Company has adopted Accounting Standards Update No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic

350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”), which requires that the Company measure its bitcoin

at fair value in its statement of financial position as of the end of a reported period, and recognize gains losses from changes in the

fair value in net income (loss) for the reported period. As a result, we may incur unrealized gain or loss on digital assets based on

changes in the market price of bitcoin during a period, which would not be reflected in Bitcoin Yield, Bitcoin Gain per ADSO or

Bitcoin $ Gain per ADSO.

As noted above, these metrics are narrow in their purpose and are used by management to assist it in assessing whether the

Company is raising and deploying capital in a manner accretive to stockholders solely as it pertains to its bitcoin holdings.

In calculating these metrics, the Company does not consider the source of capital used for the acquisition of its bitcoin. When the

Company purchases bitcoin using proceeds from offerings of redeemable preferred stock, such transactions have the effect of

increasing the Bitcoin Yield, Bitcoin Gain per ADSO and Bitcoin $ Gain per ADSO, while also increasing the Company’s senior

claims of holders of instruments other than Class A common stock with respect to dividends and to the Company’s assets,

including its bitcoin, in a manner that is not reflected in these metrics.

In addition, we are required to pay dividends with respect to our perpetual preferred stock in perpetuity. The Company has

historically not paid any dividends on its shares of Class A common stock, and by presenting these metrics the Company makes

no suggestion that it intends to do so in the future. Ownership of the Company’s securities, including its Class A common stock

and preferred stock, does not represent an ownership interest in, or a redemption right with respect to, the bitcoin the Company

holds.

The Company’s ability to achieve positive Bitcoin Yield, Bitcoin Gain per ADSO, or Bitcoin $ Gain per ADSO may depend on a

variety of factors, including factors outside of its control, such as the price of bitcoin, and the availability of debt and equity

financing on favorable terms. Past performance is not indicative of future results.

These metrics are merely supplements, not substitutes to the financial statements and other disclosures contained in the

Company’s SEC filings. They should be used only by sophisticated investors who understand their limited purpose and many

limitations.

About Strive

Strive is a structured finance company and institutional asset manager focused on disciplined capital allocation and long-term

value creation. We have strategically adopted bitcoin as our hurdle rate for capital deployment because of our fiduciary duty to

maximize long-term value for stockholders and compound purchasing power over time.

Strive Asset Management, LLC, a direct, wholly owned subsidiary of Strive and an SEC-registered investment adviser, manages

over $2.9 billion in assets. Learn more at strive.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation

Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 175 promulgated

thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 3b-6

promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements

include, but are not limited to, express or implied statements regarding the outlook and expectations of Strive and its subsidiaries,

the strategic benefits and financial benefits of the merger transaction with Semler Scientific, Inc. (the "merger transaction"),

including the expected impact of the merger transaction on Strive’s future financial performance and the ability to successfully

integrate the combined businesses, and Strive’s intentions with respect to adjusting the SATA Stock monthly regular dividend rate

per annum. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,”

“anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project,” “predict,”

“potential,” “assume,” “forecast,” “target,” “budget,” “outlook,” “trend,” “guidance,” “objective,” “goal,” “strategy,”

“opportunity,” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgments of Strive

and its respective management team about future events. Forward-looking statements are based on assumptions as of the time they

are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent,

likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or

implied by such forward-looking statements as a result of various important factors. Other risks, uncertainties and assumptions,

including, among others, the following:

• the outcome of any legal proceedings that may be instituted against Strive or its subsidiaries;
• the possibility that the anticipated benefits of the merger transaction are not realized when expected or at all, including as

a result of changes in, or problems arising from, implementation of Bitcoin treasury strategies and risks associated with

Bitcoin and other digital assets, general economic and market conditions, interest and exchange rates, monetary policy,

and laws and regulations and their enforcement;

• the diversion of management’s attention from ongoing business operations and opportunities;
• dilution caused by Strive’s issuance of additional shares of its Class A common stock, SATA Stock, or SATS Stock;
• potential adverse reactions of Strive’s clients and customers or changes to business or employee relationships, including

those resulting from the completion of the merger transaction;

• other factors that may affect future results of Strive or the future trading performance of its Class A common stock,

SATA Stock, or SATS Stock.

These factors are not necessarily all of the factors that could cause Strive’s actual results, performance or achievements to differ

materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or

unpredictable factors, also could harm Strive’s results.

Although Strive believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions

within the bounds of its existing knowledge of its business and operations, there can be no assurance that the actual results of

Strive will not differ materially from any projected future results expressed or implied by such forward-looking statements.

Additional factors that could cause results to differ materially from those described above can be found in Strive’s Annual Report

on Form 10-K, for the fiscal year ended December 31, 2025 and other documents subsequently filed by Strive with the SEC.

The actual results anticipated may not be realized or, even if substantially realized, they may not have the expected consequences

to or effects on Strive or its businesses or operations. Investors are cautioned not to rely too heavily on any such forward-looking

statements. Forward-looking statements contained herein speak only as of the date hereof, and Strive undertakes no obligation to

update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to

the extent required by applicable law.

Strive Media Contact:

media@strive.com

Investor Contact:

ir@strive.com

Source: Strive, Inc.