SkyAI Inc. sold 135,399 SOL for $12.47 million in the first half of 2026, booking a $14.72 million loss as the token's price slid far below what the company paid. The sale came at an average price of $92.09 per SOL against a cost basis of $200.79, according to the company's latest financial report.
The Numbers Behind the Sale
The company's digital-commodity holdings fell to $144.28 million on June 30, 2026, from $250.11 million at the end of 2025. That drop reflects both the SOL sale and a broader unrealized loss of $84.34 million for the six-month period, with $13.49 million of that hit coming in the second quarter alone.
SkyAI still holds a substantial stash: 1,494,026 liquid SOL and 509,650 locked SOL scheduled for release through the end of 2028. Substantially all of its treasury is staked, the company said.
Working Capital Squeeze
Despite the SOL proceeds, working capital shrank to $12.63 million from $14.19 million. The company pointed to operating burn, a $3.08 million margin loan repayment, and $2.01 million in share repurchases as the reasons.
SkyAI ended June with $12.07 million in cash and positive working capital. It described itself as debt-free, though it still carried $3.07 million in liabilities.
Operating Business vs. Expenses
The core business isn't covering costs. SkyAI generated just $192,780 in net revenue from Sologard and $5.46 million in net staking revenue. Meanwhile, selling, general, and administrative expenses ran to $10.22 million, and related-party consulting fees added another $5 million.
That gap explains why the company is leaning on its crypto treasury. Management said future funding may come from selling more SOL, issuing equity, or obtaining traditional financing until operations support themselves.
SOL's price has not cooperated. On Aug 9, 2026, it traded at $77.06, down 21.28% over 90 days and 48.93% over one year. That puts the current market value of SkyAI's liquid SOL at roughly $115 million, well below the June 30 carrying value.
The company's next move is unclear. It has locked SOL releasing through 2028, but with the token down sharply, selling more would deepen realized losses. Equity issuance or debt would dilute or add leverage. SkyAI's next quarterly report will show which path it chose.
