Strive, Inc. Reports 80% Revenue Decline and $192.3 Million Net Loss in Latest 10-Q Filing

Strive, Inc. reported significant financial developments in its latest 10-Q filing for the period ending September 30, 2025, following its recent merger with Asset Entities Inc. The company recorded total revenues of $255,000 during the successor period from September 12, 2025, to September 30, 2025, a decrease of 80% compared to $1.3 million in the preceding period from July 1, 2025, to September 11, 2025. The decline in revenue was primarily attributed to a substantial drop in investment advisory fees, which fell to $246,000 from $1.3 million in the previous period. The company also reported a net loss of $192.3 million, a significant increase from a loss of $14.4 million in the prior period, largely due to a $140.8 million impairment charge related to goodwill and intangible assets.

The company’s total assets surged to $792.6 million as of September 30, 2025, compared to $28.2 million at the end of the previous fiscal year. This increase was driven by the acquisition of digital assets, with Strive holding approximately 5,886 bitcoins valued at $672.9 million. The company’s cash and cash equivalents also rose to $109.1 million from $6.2 million, reflecting the proceeds from a private investment in public equity (PIPE) transaction that raised $749.6 million. The transaction involved the issuance of 345.5 million shares of Class A common stock and warrants, significantly bolstering the company’s liquidity position.

Operationally, Strive has expanded its asset management capabilities, managing over $2 billion in assets across various investment vehicles. The company aims to operate within a single-digit million dollar operating loss to single-digit million dollar operating profit range in the upcoming fiscal year. Strive's strategic focus includes a dual approach to acquiring bitcoin through both market purchases and strategic mergers and acquisitions, which are expected to enhance its asset base and revenue generation.

Looking ahead, Strive has entered into a merger agreement with Semler Scientific, Inc., which is expected to further expand its operational footprint. The company has also authorized a share repurchase program of up to $500 million, indicating confidence in its long-term value. Despite the current financial losses, Strive's management remains optimistic about future growth, driven by its innovative approach to bitcoin treasury management and the anticipated benefits from its recent acquisitions and capital raises.