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Business Wire
4 days ago
- Business
- Business Wire
Oblong Reports Q2 2025 Results and Expands $8M TAO Treasury to Power Decentralized AI
DENVER--(BUSINESS WIRE)--Oblong, Inc. (Nasdaq: OBLG) ('Oblong' or the 'Company'), a digital asset treasury company, today announced financial results for the second quarter ended June 30, 2025 ('Q2 2025') and significant progress in its treasury strategy centered on Bittensor's TAO token. With artificial intelligence projected to reach a $1.2 trillion market by 2030, Oblong is pioneering a treasury strategy that leverages TAO to drive financial returns and decentralized AI innovation. Bittensor's network, powered by over 500 active nodes, incentivizes collaborative AI development, positioning TAO as a critical asset for forward-thinking companies. 'Oblong's $8.0 million investment in 21,613 TAO tokens, all staked in the Bittensor network, generates revenue while strengthening our role in the decentralized AI ecosystem,' said Pete Holst, CEO of Oblong. 'Our strategy positions us at the forefront of AI-driven finance, delivering value through strategic treasury management.' Q2 2025 Financial and Strategic Highlights Strong Financial Position: As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, $1.7 million in TAO holdings, and zero debt. TAO Treasury Expansion: Invested $1.7 million in Q2 2025 to acquire 5,025 TAO tokens, followed by $6.35 million post-Q2 to purchase 16,506 additional tokens, totaling 21,613 tokens, all staked to generate revenue and support Bittensor's decentralized AI network. Capital Raising: Secured $6.9 million from a private placement and $1.3 million from common warrant exercises in Q2 2025, with an additional $0.9 million from warrant exercises post-Q2. Revenue and Loss: Generated $0.6 million in revenue, consistent with Q2 2024, with a net loss of $0.6 million, improved from $1.0 million in Q2 2024. Adjusted EBITDA loss was $0.7 million, improved from $1.0 million in Q2 2024 (see 'Non-GAAP Financial Information' below). Strategic Outlook: Committed to evaluating weekly TAO purchases and exploring partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. Strategic Vision Oblong's TAO treasury delivers value to investors through potential share price growth driven by strategic asset management, to TAO holders by enhancing Bittensor's ecosystem, and to the AI community by advancing decentralized innovation. As corporations increasingly adopt digital assets, Oblong leads by integrating AI and finance through TAO's unique role in Bittensor's growing network. Non-GAAP Financial Information Adjusted EBITDA is a non-GAAP financial measure. See 'GAAP to Non-GAAP Reconciliation' below for a reconciliation to net loss. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver value through strategic treasury management and ii) explore partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 10-Q filed on August 14, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. December 31, 2024 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 10,795 $ 4,965 Digital assets 1,683 — Accounts receivable, net 15 186 Prepaid expenses and other current assets 566 118 Total current assets 13,059 5,269 Other assets 5 6 Total assets $ 13,064 $ 5,275 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 122 105 Accrued expenses and other current liabilities 1,659 1,131 Deferred revenue 31 36 Total current liabilities 1,812 1,272 Total liabilities 1,812 1,272 Commitments and contingencies (see Note 9) Stockholders' equity: Preferred stock Series F, convertible; $0.0001 par value; $390,000 stated value; 5,000,000 shares authorized, 355 and 545 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively — — Common stock; $0.0001 par value; 150,000,000 shares authorized, 1,594,953 and 1,594,764 shares issued and outstanding as of June 30, 2025, respectively, and 1,144,926 and 1,144,737 shares issued and outstanding as of December 31, 2024, respectively — — Treasury Stock, 189 common shares (181 ) (181 ) Additional paid-in capital 244,984 236,458 Accumulated deficit (233,551 ) (232,274 ) Total stockholders' equity 11,252 4,003 Total liabilities and stockholders' equity $ 13,064 $ 5,275 Expand OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenue $ 592 $ 611 $ 1,214 $ 1,237 Cost of revenue 364 491 737 1,120 Gross profit 228 120 477 117 Operating expenses: Research and development 3 65 6 115 Sales and marketing 6 57 14 111 General and administrative 902 1,016 1,831 2,093 Total operating expenses 911 1,138 1,851 2,319 Operating loss (683 ) (1,018 ) (1,374 ) (2,202 ) Interest income, net 47 44 73 92 Unrealized gain on digital assets 31 — 31 — Other income, net 78 44 104 92 Loss before income taxes (605 ) (974 ) (1,270 ) (2,110 ) Income tax expense — 9 7 9 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Expand GAAP to Non-GAAP Reconciliation: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Other income, net (78 ) (44 ) (104 ) (92 ) Income tax expense — 9 7 9 Stock-based compensation — 31 - 62 Adjusted EBITDA loss $ (683 ) $ (987 ) $ (1,374 ) $ (2,140 ) Expand
Business Wire
07-08-2025
- Business
- Business Wire
Oblong Deploys $8M in Fully Staked $TAO to Capitalize on Decentralized AI Surge
DENVER--(BUSINESS WIRE)--Oblong (Nasdaq: OBLG), leading the charge in innovative treasury strategies, today announces it has now invested $8 million in Bittensor ($TAO), fully staked with a trusted main validator. This bold move underscores Oblong's unwavering belief in decentralized and distributed AI as a game-changer, enabling global innovators to build open-source intelligence without centralized gatekeepers. In Bittensor, staking means putting $TAO to work to support the network's operations and reward top AI innovators, much like how Ethereum investors stake tokens to secure the blockchain and earn profits. Unlike Ethereum, Bittensor's staking directly fuels a global AI marketplace, driving breakthroughs in every AI silo from serverless compute, multi-modal AI to advanced text prompting and reasoning akin to a 'decentralized ChatGPT.' By staking its entire $TAO position, Oblong reinvests in this ecosystem, strengthening innovation and aligning with its vision of a decentralized AI future. 'Our $8 million $TAO investment, fully staked for strong returns, shows our commitment to a decentralized AI revolution,' said Pete Holst, CEO of Oblong. 'Our goal is to build wealth for investors while advancing a global AI community.' Oblong will continue to evaluate additional $TAO purchases on a weekly basis. The Company is also exploring partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies. Transparent updates on treasury performance, including staking yields and token holdings, will be provided in Oblong's Q2 2025 financial results and at upcoming investor conferences. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements and include, but are not limited to, statements regarding market opportunity and the Company's new Bittensor-centric AI and digital asset strategy. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver returns through staking $TAO, ii) explore partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies, and iii) offer unmatched opportunities for retail and institutional investors. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events and involve factors, risks, and uncertainties, including market and other conditions and the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 8-K filed on June 6, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company cannot give any assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.
