DJTWW Q1 loss balloons to $406M on $244M crypto writedown; debt surges to $959M

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 net loss widened to $405.8M (vs $31.7M prior year), driven by $244M unrealized loss on bitcoin/Cronos holdings and $108M investment loss from equity securities. New crypto treasury strategy exposes earnings to digital asset volatility.

  MD&A: Results of Operations verify on EDGAR →
• high

  Debt jumped to $958.6M from $9.8M year-ago after issuing $1B convertible notes in May 2025. Noteholders can demand cash repayment in November 2026, creating near-term refinancing risk if conversion is not elected.

  MD&A: Liquidity and Capital Resources verify on EDGAR →
• high

  Company remediated prior material weakness in internal controls; disclosure controls now deemed effective as of March 31, 2026 after hiring accounting staff and formalizing policies for complex transactions.

  Controls and Procedures verify on EDGAR →