StableX Technologies, Inc. reported significant financial changes in its latest 10-Q filing for the quarter ending September 30, 2025. The company, which transitioned from AYRO, Inc. to StableX Technologies, Inc. in August 2025, recorded no revenue for the three and nine months ended September 30, 2025, a stark contrast to revenues of $5,426 and $63,777 for the same periods in 2024. The company incurred a gross loss of $717,120 for the quarter and $956,160 for the nine months, compared to gross losses of $280,602 and $2,480,354 in the prior year. Operating expenses surged to $2,816,520 for the quarter and $6,339,346 for the nine months, primarily driven by increased research and development costs and general administrative expenses.
The company’s total assets decreased to $15.7 million as of September 30, 2025, down from $21.7 million at the end of 2024. This decline was largely due to a reduction in cash and cash equivalents, which fell from $16 million to $7.3 million. Current liabilities also saw a significant decrease, dropping from $4.2 million to $1.9 million, reflecting a strategic effort to improve liquidity. The company’s stockholders’ equity increased to $8.3 million, up from $4.7 million, attributed to the issuance of Series I Preferred Stock and the exercise of warrants.
Strategically, StableX has shifted its focus from manufacturing electric vehicles to acquiring and developing stablecoin assets and related technologies. This pivot is part of a broader strategy to capitalize on the growing role of stablecoins in global finance. The company completed several financing transactions during the quarter, including raising approximately $6.3 million from the issuance of Series I Preferred Stock and $1.1 million from the exercise of outstanding warrants. These actions have improved the company's liquidity position, alleviating previous concerns about its ability to continue as a going concern.
Operationally, the company has initiated digital asset treasury management activities, which are managed centrally within its corporate function. As of September 30, 2025, StableX reported digital assets valued at approximately $1.57 million, consisting of various cryptocurrencies. The company also experienced a significant change in its management structure, with Joshua Silverman appointed as CEO in August 2025, following the resignation of George Devlin from the board.
Looking ahead, StableX Technologies aims to leverage its recent financing and improved cash flows to enhance its operational capabilities and expand its market presence in the digital asset space. The company is optimistic about its future prospects, given the strategic shift towards stablecoin assets and the ongoing development of its digital asset portfolio.
About AYRO, Inc.
AYRO, Inc. designs and manufactures compact, sustainable low-speed electric vehicles (LSEVs) for commercial use in campus mobility, last mile delivery, urban transport, and government fleets. Its purpose-built, street-legal EVs offer zero emissions and lower operating costs, targeting markets like universities, municipalities, and delivery services in North America. AYRO’s business model focuses on modular vehicle design, integrated technology, and partnerships to serve evolving eco-friendly transportation needs.
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