Antalpha Platform Holding Company (NASDAQ: ANTA) shares barely moved Tuesday, on announcing its unaudited financial results for the first quarter ended March 31, 2026.
Total revenue was $20.7 million, an increase of 52% year-over-year, reflecting continued platform scale despite a challenging market backdrop.
Operating income was $6.6 million, representing an operating margin of 32%, primarily reflecting $10.9 million in unrealized fair value gains on XAUt holdings by Aurelion. Non-GAAP operating income, which excludes one-time and non-cash items of $4.6 million, was $11.2 million, representing a non-GAAP operating margin of 54%.
Net income attributable to Antalpha was $2.7 million, compared to $1.5 million in the prior-year period. Prior-year figures reflect Antalpha standalone results, as consolidation of Aurelion began in Q4 2025.
“Antalpha continued to demonstrate the resilience and scalability of its platform in the first quarter, with sustained revenue growth and profitability through a more challenging market environment,” said Chief Financial Officer Paul Liang.
“What stood out in the first quarter of 2026 was how the two distinct sides of Antalpha's platform worked together harmoniously. Our tokenized gold upside captured the constructive move in gold prices, and our lending portfolio, conservatively collateralized and still with no loss of principal to date, continued to reflect the risk discipline that has long defined our business.”
ANTA shares lost 10 cents to $75.70.
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