secwatch.observer — SEC 8-K summary
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Issuer:     Nakamoto Inc. (NAKA)
CIK:        0001946573
Form:       8-K
Filed at:   2026-05-13T21:08:01+00:00
Accession:  0001493152-26-022786
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nakamoto Q1 net loss $238.8M, hit by Bitcoin price drop; revenue $2.7M, partial quarter from new units
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- Total operating revenue $2.7M, up from $0.6M YoY; net loss $238.8M driven by $102.5M BTC mark-to-market loss and $107.7M non-cash option reduction.
- GAAP operating loss $126.2M; adjusted non-GAAP operating loss $7.8M including ~$8M transaction costs.
- Completed acquisitions of BTC Inc and UTXO Management on Feb 20, 2026; partial quarter contributions from Media ($0.8M) and Asset Mgmt ($0.2M).
- Held >5,000 BTC worth ~$345M at quarter-end; sold 284 BTC for working capital; Bitcoin price fell from $87,519 to $68,220.
- Healthcare wind-down expected substantially complete by Q2 2026; cash $35.3M, notes payable $210M, enterprise value $327M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1946573/000149315226022786/0001493152-26-022786-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1946573/000149315226022786/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-022786

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