Latest news with #EmperyDigital
Business Wire
3 days ago
- Business
- Business Wire
Empery Digital Reports Operational Highlights and Second Quarter 2025 Financial Results
AUSTIN, Texas--(BUSINESS WIRE)--Empery Digital Inc. (NASDAQ: EMPD) ('Empery Digital'', the 'Company' or 'we'), the first all-electric, off-road powersports company, today reported its operational highlights and financial results for the quarter ended June 30, 2025. Company Highlights: Initiated Bitcoin ('BTC') treasury strategy and completed private placements raising over $481 million in net proceeds Purchased over $473 million of Bitcoin Increased ATM program by $1 billion and share repurchase program to $100 million Launched providing real time portfolio metrics, and social media accounts to expand distribution of Company communications Continuing to evaluate impact of tariffs on products Effective as of July 17, 2025, the Company adopted a BTC treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of BTC. On July 21, 2025, we completed private placements with certain institutional and accredited investors for the sale of 44,414,189 shares of common stock and pre-funded warrants to purchase an aggregate of 5,728,662 shares common stock with an exercise price of $0.00001. The Company received net cash proceeds of approximately $481 million. At the time of this release, we have acquired 4,026.71 BTC for an aggregate purchase price of approximately $473 million, reflecting an average purchase price of $117,546 per BTC. The Company amended its At-The-Market Issuance Sales Agreement which increased the maximum capacity of the program by $1 billion, in addition to the $90 million available under its existing ATM program. The Company filed a shelf registration statement to register the shares underlying such agreement on July 30, 2025. In addition, the board of directors of the Company approved a $100 million common stock repurchase program. On August 6, 2025, the Company launched which includes real-time portfolio metrics updating the market on BTC holdings and key valuation metrics. The Company has also launched various social media accounts where the Company can provide updates to the BTC treasury strategy and where Ryan Lane, the Company's Co-CEO can explain the various ways Empery Digital thinks about efficiently adding BTC per share and opine on various topics and happenings within the blockchain ecosystem where he believes he has expertise. Website Homepage: Treasury Dashboard: X (f/k/a Twitter) Account: Treasury Instagram Account: Mobility Instagram Account: These channels may be updated from time to time on our investor relations website. The information we post through these channels may be deemed material. The Company intends to use these channels as a means of complying with its disclosure obligations under Regulation FD and to provide broad, non-exclusionary distribution of information regarding the Company to the public, including information regarding market data for the Company's BTC holdings and key valuation metrics. Accordingly, investors are encouraged to monitor them in addition to our investor relations website, press releases, SEC filings, and public conference calls and webcasts. This list may be updated from time to time. On April 2, 2025, the U.S. imposed reciprocal tariffs on imports from various countries including China and Vietnam starting with a 10% baseline tariff. We continue to monitor the ongoing tariff situation, and we will modify our mobility business accordingly. John Kim, the Company's Co-CEO, stated 'tariffs imposed by the current administration continue to impact the Company's cost for vehicles and parts manufactured in China and Vietnam. With the expected Vietnam tariff rate of 20%, the Company can continue sourcing from Vietnam, though it would likely result in a modest reduction in margins and a corresponding increase in retail pricing. The Company remains actively evaluating strategic alternatives, including U.S. assembly or shifting production as well as potentially adjusting selling prices to offset elevated import costs.' Financial highlights: The financial results presented herein are subject to change pending completion of the audit of the Company's annual financial statements. Revenue: The Company's revenue for the second quarter of 2025 was $0.7 million compared to $0.7 for the first quarter of 2025 and $1.0 million for the fourth quarter of 2024. Revenue for the second quarter of 2025 represents revenue from the sale of Brats of $0.2 million, HF1s of $0.3 million, MN1-Adventurers of $0.1 million, and MN1-Tradesman of $0.1 million. Revenue for the first quarter of 2025 includes Grunt EVO revenue of $0.3 million, Brat revenue of $0.1 million, HF1 revenue of $0.1 million and MN1 revenue of $0.1 million. Revenue for the fourth quarter of 2024 includes Grunt EVO revenue of $0.3 million, Brat revenue of $0.4 million and $0.2 million for the adjustment of expired dealer rebates. Cost of Goods Sold: Included in cost of goods sold for the fourth quarter of 2024 is a charge of $2.5 million for the termination of the Stag and EVO supply agreements, offset by a reduction in the settlement for Torrot of $0.7 million and a charge for the write down of Grunt EVO finished goods of $0.3 million. Absent the adjustments noted above, the Company's gross margin is trending close to break even. There were no significant expense similar to the above in the second and first quarters of 2025. Operating Expenses: Operating costs for the second quarter of 2025 have remained generally consistent with the first quarter of 2025 which decreased across all categories compared to the fourth quarter of 2024 as we focus on reducing operating costs while continuing to make investments in product sourcing and our sales team to continue to build our dealer network to generate sales of our products. Our product development costs have continued to decline in the second quarter of 2025 compared to the last prior two quarters since we no longer develop our vehicles which reduced prototype costs and payroll costs due to lower headcount requirements. Our general and administrative costs increased in the second quarter of 2025 by approximately $1.3 million with $1.1 million due to share-based compensation expense for stock options granted to our CEO and CFO which were approved by the stockholders at the Company's annual stockholders meeting in May 2025. In addition, approximately $0.1 million of expenses were incurred for the annual stockholders meeting and the cost of completing our 1-for -8 reverse stock split in June 2025. General and administrative costs declined in the first quarter of 2025 due to lower legal fees due to the completion of settlements, lower product liability costs compared to the fourth quarter of 2024 and an adjustment for estimated franchise tax expense in the fourth quarter of 2024. Net Loss: Net loss for the second quarter of 2025 was $3.9 million compared to $2.5 million for the first quarter of 2025 and $5.2 million for the fourth quarter of 2024. Net loss for the second quarter of 2025 and the fourth quarter of 2024 includes the recognition of a loss of $0.1 million for warrants issued in our November 2023 public offering as these warrants were deemed to be liabilities and are recorded at fair value with changes being recorded in income. Cash used in operations: Cash used in operations for all periods presented has remained generally consistent as the Company focused on reducing costs throughout 2024 and into early 2025. Cash used in investing activities for the second quarter of 2025 includes the Company's purchase of a 13 month, $2 million certificate of deposit that is collateral for our dealer floor plan financing which dealers may apply for to finance their inventory purchases. Cash used in the first quarter of 2025 was primarily for the purchase of tooling for a prototype motorcycle under development with a third party manufacturer. Cash (used in) provided by financing activities: In the second quarter of 2025, the Company used proceeds $0.1 million to purchase shares of its common stock under the share repurchase program. In the first quarter of 2025, the Company sold common stock under its ATM program for net proceeds of $8.8 million and sold common stock units or pre-funded warrant units in an underwritten public offering for net proceeds of $10.7 million, offset by cash of $0.4 million used to repurchase shares of its common stock under its share repurchase program. Investor information about the Company, including press releases, company SEC filings, and more can be found at About Empery Digital Inc. Built on Principles, Powered by Blockchain Effective as of July 17, 2025, the Company adopted a Bitcoin treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of Bitcoin. Empery Digital (formerly Volcon) was founded as the first all-electric powersports company sourcing high-quality and sustainable electric vehicles for the outdoor community. The powersports brand will operate under the brand name Empery Mobility. Empery Mobility electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive and enjoyable outdoor experience. For more information on Empery Digital, including our treasury dashboard, or to see our vehicle line-up, visit: Forward-Looking Statements: This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including our ability to successfully execute our BTC treasury strategy, fully utilize our ATM, repurchase our common stock, if tariffs will change for products manufactured for us in foreign countries, and whether we can continue to reduce costs. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on July 17, 2025. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Business Wire
4 days ago
- Business
- Business Wire
Empery Digital Acquires 18 Additional BTC and Now Holds Over 4,018 BTC
AUSTIN, Texas--(BUSINESS WIRE)-- Empery Digital Inc. (NASDAQ: EMPD) (the 'Company' or 'Empery Digital') today announced that since the last update on August 6, 2025, the Company has acquired an additional 17.51 BTC for a total purchase price of $2.0 million. As of the time of this release, the Company holds 4,018.36 BTC acquired for an aggregate purchase price of approximately $472 million, reflecting an average purchase price of $117,552 per BTC. Additionally, the Company today announced that it has been exploring a range of opportunities to cost effectively leverage the significant BTC holdings to fund potential share repurchases in the event the Company's common stock trades at a discount to net asset value. By proactively securing access to capital, the Company aims to act swiftly should market conditions present an attractive opportunity to repurchase shares below NAV. 'This strategy aligns with our disciplined approach to add bitcoin per share on both sides of net asset value,' said Ryan Lane, Co-CEO & Chairman of Empery Digital. 'Our intentional decision to not use debt financing out of the gate affords the management team significant flexibility to pursue accretive opportunities for shareholders. If our shares trade at a discount to NAV, we will have the flexibility to act decisively.' Ryan continued, 'We also launched various social media accounts to provide a place where I can explain the various ways Empery Digital thinks about efficiently adding bitcoin per share. I will also opine on various topics and happenings within the blockchain ecosystem where I have expertise. Please come follow us on this journey: @EMPD_BTC on X (formerly Twitter). We plan to announce our additional social media handles soon.' About Empery Digital Inc. Built on Principles, Powered by Blockchain Effective as of July 17, 2025, the Company adopted a bitcoin treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of bitcoin. Empery Digital (formerly Volcon) was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community. The power sports brand will operate under the brand name Empery Mobility. Empery Mobility electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including the statements relating to the proposed real time updates on the Company's website and whether we will be able to obtain sufficient debt financing at terms that are acceptable for making share repurchases if our common stock is trading below NAV or if we will repurchase shares of our common stock at all. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on July 17, 2025. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Business Wire
06-08-2025
- Business
- Business Wire
Empery Digital Acquires 88 Additional BTC and Now Holds Over 4,000 BTC
AUSTIN, Texas--(BUSINESS WIRE)--Empery Digital Inc. (NASDAQ: EMPD) (the 'Company' or 'Empery Digital') today announced that since the last update on August 3, 2025, the Company has acquired an additional 87.62 BTC for a total purchase price of $10.0 million. As of the time of this release, the Company holds 4,000.85 BTC acquired for an aggregate purchase price of approximately $470 million, reflecting an average purchase price of $117,552 per BTC. Additionally, today the Company launched which will include real-time portfolio metrics updating the market on BTC holdings and key valuation metrics. 'We are excited to launch providing the market with virtual real-time pricing and portfolio updates,' said Ryan Lane, Co-CEO & Chairman of Empery Digital. 'Providing real-time holdings information sourced directly from our custodian by our third-party administrator creates unprecedented transparency. The website launch demonstrates our commitment to the principles of corporate disclosure.' About Empery Digital Inc. Built on Principles, Powered by Blockchain Effective as of July 17, 2025, the Company adopted a bitcoin treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of bitcoin. Empery Digital (formerly Volcon) was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community. The power sports brand will operate under the brand name Empery Mobility. Empery Mobility electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including the statement relating to the proposed real time updates on the Company's website. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on July 17, 2025. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Business Wire
04-08-2025
- Business
- Business Wire
Empery Digital Acquires 110 Additional BTC and Now Holds Over 3,913 BTC
AUSTIN, Texas--(BUSINESS WIRE)--Empery Digital Inc. (NASDAQ: EMPD) (the 'Company' or 'Empery Digital') today announced that since the last update on July 31st, the Company has acquired an additional 110.00 BTC for a total purchase price of $12.6 million. As of the time of this release, the Company holds 3,913.23 BTC acquired for an aggregate purchase price of approximately $460 million, reflecting an average purchase price of $117,629 per BTC. About Empery Digital, Inc. Built on Principles. Powered by Blockchain. Effective as of July 17, 2025, the Company adopted a bitcoin treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of bitcoin. Empery Digital (formerly Volcon) was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community. The power sports brand will operate under the brand name Empery Mobility. Empery Mobility electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience.
Business Wire
31-07-2025
- Business
- Business Wire
Volcon Inc. is Now Empery Digital Inc.
AUSTIN, Texas--(BUSINESS WIRE)--Empery Digital Inc. (NASDAQ: EMPD) (the 'Company' or 'Empery Digital') today announced that it has changed its name from Volcon Inc., to Empery Digital Inc. aligning its name and branding with its new BTC treasury strategy. VLCN shares will now trade on Nasdaq under the new ticker symbol 'EMPD' as of today, July 31, 2025. 'We are excited to launch as Empery Digital, a brand that aligns with our belief in bitcoin as the obvious digital store of value for the future,' said Ryan Lane, Co-CEO & Chairman of Empery Digital. 'In an era defined by monetary debasement and accelerating technological change, we believe blockchain represents a transformative, decentralized network for establishing trust. Bitcoin, as the most mature and widely adopted application of this technology, lays the foundation for future innovations that promote the principals of transparency and accountability. We continue to work with the Gemini team to build our Bitcoin portfolio efficiently and ensure its safe custody for shareholders.' 'This name change signifies the Company's pivot to a strategic focus on the digital asset ecosystem, while remaining committed to supporting its core operations,' said John Kim, Co-CEO of Empery Digital. 'We will continue to reposition our e-power-sports business under the Empery Mobility brand, focused on a highly efficient, asset light business model, which leverages our international relationships to source affordable products for the U.S. markets.' Additionally, yesterday the Company expanded its existing 'at-the-market' (ATM) equity sales program and the associated prospectus supplement, providing access to over $1 billion of capital via opportunistic sales of equity. This increase, together with the recently expanded share repurchase plan, enhances financial flexibility and enables the company to support NAV accretion by issuing shares at a premium and repurchasing shares at a discount - effectively insulating the value creation engine of the digital asset treasury model. Bitcoin Holdings Update Since the last update on July 28th, the Company has acquired an additional 303.04 BTC for a total purchase price of $35.6 million. As of the time of this release, the Company holds 3,803.23 BTC acquired for an aggregate purchase price of approximately $448 million, reflecting an average purchase price of $117,706 per BTC. About Empery Digital, Inc. Built on Principles. Powered by Blockchain. Effective as of July 17, 2025, the Company adopted a bitcoin treasury strategy with the goal of becoming a leading, low cost, capital efficient, globally trusted aggregator of bitcoin. Empery Digital (formerly Volcon) was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community. The power sports brand will operate under the brand name Empery Mobility. Empery Mobility electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating whether the Company can efficiently build its BTC portfolio and whether we can successfully reposition our power sports business as an asset light business model. Each forward-looking statement contained in this presentation is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified in the Appendix to this presentation and those identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on July 17, 2025. We caution investors not to place considerable reliance on the forward-looking statements contained in this presentation. You are encouraged to read our filings with the SEC, available at for a discussion of these and other risks and uncertainties. The forward-looking statements in this presentation speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
