secwatch.observer — SEC 8-K summary
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Issuer:     Nakamoto Inc. (NAKA)
CIK:        0001946573
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001493152-26-013693
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nakamoto reports Q4 2025 GAAP operating loss $160.7M; holds 5,342 Bitcoin
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- Q4 2025 healthcare revenue $0.44M (down 26% YoY); full year $1.82M (down 33%).
- Bitcoin operations generated no revenue; $142.6M loss from fair value decline in Q4.
- Full year adjusted operating loss $13.6M vs. 2024 loss of $3.3M (healthcare only).
- Acquired BTC Inc and UTXO Management in Feb 2026; exiting legacy healthcare operations.
- Sold ~$20M of Bitcoin post-period for operating reserve; shares outstanding rose to 690M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1946573/000149315226013693/0001493152-26-013693-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1946573/000149315226013693/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-013693

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer