Supernova Digital - Interim Results
30 July 2026
Supernova Digital Assets PLC
("Supernova" or the "Company")
Half-yearly results for the six months ended 30 April 2026
Supernova (AQSE: SOL), a company specialising in the Solana ecosystem, announces its unaudited half-yearly results for the six months ended 30 April 2026.
The Directors of Supernova take responsibility for this announcement.
For further information please contact:
Supernova Digital Assets PLC
Mike Edwards
Executive Chairman
Via First Sentinel
First Sentinel
Brian Stockbridge
Corporate Adviser
+44 7858 888 007
Important Notice
The Company holds cryptocurrencies or cryptoassets. Whilst the Board of Directors of the Company considers holding cryptocurrencies to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the Financial Conduct Authority or FCA) considers investment in cryptocurrencies to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in cryptocurrencies, either directly or by proxy and shareholders will have no direct access to the Company's holdings. However, the Board of Directors consider cryptocurrencies to be an appropriate store of value and potential growth and therefore appropriate for the Company. Accordingly, the Company is and intends to continue to be materially exposed to cryptocurrencies.
The Company is neither authorised nor regulated by the FCA, and the purchase of certain cryptocurrencies are generally unregulated in the UK. As with most other investments, the value of cryptocurrencies can go down as well as up, and therefore the value of the Company's cryptocurrencies holdings can fluctuate. The Company may not be able to realise its cryptocurrencies holdings for the same as it paid to acquire them or even for the value the Company currently ascribes to its cryptocurrencies positions due to market movements. Neither the Company nor investors in the Company's shares are protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.
Cryptocurrencies may present special risks to the Company's financial position. These risks include (but are not limited to): (i) the value of cryptocurrencies can be highly volatile, with value dropping as quickly as it can rise. Investors in cryptocurrencies must be prepared to lose all money invested in cryptocurrencies; (ii) the cryptocurrencies market is largely unregulated. There is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell its cryptocurrencies at will. The ability to sell cryptocurrencies depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay; and (iv) cryptoassets are characterised in some quarters by high degrees of fraud, money laundering and financial crime. Prospective investors in the Company are encouraged to do their own research before investing.
Executive Chairman's statement
For the six month's ended 30 April 2026
The six months ended 30 April 2026 were characterised by continued weakness across cryptocurrency markets, with digital asset valuations declining significantly and creating a challenging operating environment for companies with exposure to the sector.
These adverse market conditions persisted throughout the period under review. In response, the Board continued to reduce the Company's operating cost base wherever practicable while ensuring compliance with the obligations associated with maintaining its public listing. Certain expenditure, including audit, AQSE advisory, registrar and listing fees, remains essential to maintaining the Company's listing and cannot be materially reduced.
During the period, the Company realised a portion of its Solana holdings, resulting in a corresponding reduction in staking income. The Board has also evaluated the merits of reallocating capital from Solana into Bitcoin, reflecting its view that Bitcoin may be better positioned to benefit from any sustained recovery in digital asset markets.
The Company continued to assess the most appropriate means of meeting its ongoing operational requirements. While the sale of additional digital assets remains a source of liquidity, the Directors believe that disposing of assets at prevailing market valuations would not be in the best interests of shareholders. Accordingly, the Board has continued to pursue alternative sources of funding with the objective of preserving the Company's long-term digital asset holdings.
As previously announced, the Company entered into a collateralised digital asset lending facility with Amina Bank AG, under which certain cryptocurrency holdings were pledged as collateral in exchange for cash borrowings. The facility enabled the Company to increase its investment exposure during the period.
The Company is now progressing a transition to an alternative lending provider with the objective of securing more competitive financing terms, including lower borrowing costs and improved loan-to-value ratios. Discussions are at an advanced stage; however, there can be no assurance that revised facilities will be concluded or that they will be available on terms acceptable to the Company. Subject to a successful outcome, the Board believes such facilities would reduce the likelihood of the Company needing to dispose of digital assets while market valuations remain depressed.
The Board remains focused on prudent capital management, disciplined cost control and preserving the Company's balance sheet through the current market cycle. While near-term market conditions remain challenging, the Directors believe that maintaining financial flexibility and preserving the Company's core digital asset exposure will position the Company to benefit from any future recovery in digital asset markets.
Michael Edwards
Executive Chairman
29 July 2026
Statement of Comprehensive Income
For the six months ended 30 April 2026
Unaudited
Audited
Note
Six months ended 30 April
Year ended 31 October
2026
2025 (restated)*
2025
£'000
£'000
£'000
Revenue
72
297
564
72
297
564
Other operating income
-
63
153
Fair valuation movement in investments
(810)
(98)
947
(Loss)/profit on disposal of intangible assets - cryptocurrencies
(73)
91
(323)
Loss on disposal of investments
-
-
(256)
Share based payment
-
(46)
(194)
Administrative expenses
(414)
(522)
(904)
Operating Loss
(1,225)
(215)
(13)
Finance income
-
-
1
Loss before taxation
(1,225)
(215)
(12)
Taxation
-
-
-
Loss after taxation
(1,225)
(215)
(12)
Other comprehensive (loss)/income
Fair valuation movements in intangible assets - cryptocurrencies
(2,830)
(807)
206
Total comprehensive (loss)/income for the period
(4,055)
(1,022)
194
Loss per ordinary share:
Basic loss per share
4
(0.08p)
(0.01p)
-
Diluted loss per share
4
(0.08p)
(0.01p)
-
*The comparative information has been restated as a result of the change in accounting policy as discussed in note 3. The gains on cryptocurrencies, previously recognised in profit or loss, have been reclassified to other comprehensive income.
Statement of Financial Position
As at 30 April 2026
Unaudited
Audited
Note
Six months ended 30 April
Year ended 31 October
2026
2025
(restated)*
2025
£'000
£'000
£'000
Non-Current Assets
Intangible assets - cryptocurrencies
5
2,556
3,106
5,495
Investments
369
1,780
1,179
Total non-current assets
2,925
4,886
6,674
Current Assets
Trade and other receivables
16
19
19
Cash and cash equivalents
3
19
113
Total current assets
19
38
132
Total assets
2,944
4,924
6,806
Shareholders' equity
Share capital
1,603
1,603
1,603
Share premium
-
-
-
Treasury shares
(375)
(150)
(375)
Distributable reserve
9,892
9,892
9,892
Revaluation reserve
492
2,726
3,322
Share based payments reserve
435
287
435
Retained earnings
(10,235)
(9,630)
(9,010)
Total shareholders' equity
1,812
4,728
5,867
Current Liabilities
Interest bearing loans and borrowings
847
150
762
Trade and other payables
285
46
177
Total current liabilities
1,132
196
939
Total liabilities
1,132
196
939
Total equity and liabilities
2,944
4,924
6,806
*The comparative information has been restated as a result of the change in accounting policy as discussed in note 3.
Statement of Changes in Equity
For the six months ended 30 April 2026
Share capital
Share Premium
Treasury reserve
Distributable reserve
Revaluation reserve
Share-based payments reserve
Retained earnings
Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
Unaudited
Six months ended 30 April 2026
At 1 November 2025
1,603
-
(375)
9,892
3,322
435
(9,010)
5,867
Loss for the period
-
-
-
-
-
-
(1,225)
(1,225)
Total other comprehensive loss for the period
-
-
-
-
(2,830)
-
-
(2,830)
Total comprehensive loss for the period
-
-
-
-
(2,830)
-
(1,225)
(4,055)
At 30 April 2026
1,603
-
(375)
9,892
492
435
(10,235)
1,812
Unaudited
Six months ended 30 April 2025
At 1 November 2024
(restated)*
1,603
-
-
9,892
3,533
241
(9,415)
5,854
Loss for the period
-
-
-
-
-
-
(215)
(215)
Total other comprehensive loss for the period
-
-
-
-
(807)
-
-
(807)
Total comprehensive loss for the period
-
-
-
-
(807)
-
(215)
(1,022)
Purchase of treasury shares
-
-
(150)
-
-
-
-
(150)
Share based payment
-
-
-
-
-
46
-
46
At 30 April 2025
1,603
-
(150)
9,892
2,726
287
(9,630)
4,728
Audited
Year ended 31 October 2025
At 1 November 2024
(restated)*
1,603
-
-
9,892
3,533
241
(9,415)
5,854
Loss for the year
-
-
-
-
-
-
(12)
(12)
Total other comprehensive income for the year
-
-
-
-
206
-
-
206
Total comprehensive income/(loss) for the year
-
-
-
-
206
-
(12)
194
Purchase of treasury shares
-
-
(375)
-
-
-
-
(375)
Share based payment
-
-
-
-
-
194
-
194
Realised gain on crypto disposals
-
-
-
-
(417)
-
417
-
At 31 October 2025
1,603
-
(375)
9,892
3,322
435
(9,010)
5,867
*The comparative information has been restated as a result of the change in accounting policy as discussed in note 3.
Statement of Cash Flows For the six months ended 30 April 2026
Unaudited
Audited
Six months ended 30 April
Year ended 31 October
2026
2025
(restated)*
2025
£'000
£'000
£'000
Operating activities
Loss/(profit) for the period
(1,225)
(215)
(12)
Adjustments:
Non-cash generated income
(72)
(297)
(564)
Dividend income
-
(63)
(153)
Fair value loss/(gain) on investments
810
98
(947)
Profit on disposal of investments
-
-
256
Loss/(profit) on disposal of cryptocurrencies
73
(91)
323
Foreign exchange
-
-
7
Share based payment
-
46
194
Expenses settled utilising cryptocurrencies
32
168
97
Working capital adjustments:
Decrease/(increase) in trade and other receivables
3
(14)
(15)
Increase/(decrease) in trade and other payables
108
(40)
91
Net cash used in operating activities
(271)
(408)
(723)
Investing activities
Disposal of investments
-
-
1,390
Purchase of intangible assets - cryptocurrencies
-
-
(1,458)
Disposal of intangible assets - cryptocurrencies
76
304
304
Dividend income
-
63
153
Net cash from investing activities
76
367
389
Financing activities
Purchase of treasury shares
-
(150)
(375)
Financial Liability raised
85
150
762
Net cash from financing activities
85
-
387
Net decrease in cash and cash equivalents
(110)
(41)
(53)
Cash and cash equivalents at start of financial period
113
60
60
Cash and cash equivalents at end of financial period
3
19
113
*The comparative information has been restated as a result of the change in accounting policy as discussed in note 3.
Notes to the Interim Financial Statements for the six months ended 30 April 2026
1. Basis of preparation
The interim results of Supernova Digital Assets PLC (the Company) are prepared in accordance with the requirements of IAS 34 Interim Financial Reporting and are prepared in accordance with the accounting policies set out in the last financial statements for the year ended 31 October 2025. Supernova Digital Assets PLC expects to apply the same policies in its financial statements for the year ending 31 October 2026.
The financial information for the six months ended 30 April 2026 and for the six months ended 30 April 2025 have neither been audited nor reviewed by the Company's auditors. The comparative financial information for the year ended 31 October 2025 has been derived from the audited financial statements for that period.
2. Critical accounting estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense.
Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any
periods that will materially affect the accuracy of the financial statements. The areas involving a higher degree of
judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, have been disclosed in the last financial statements for the year ended 31 October 2025.
There are no additional judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
3. Change in Accounting Policy - Fair value measurement of Cryptocurrencies
As stated in the audited financial statements for the year ended 31 October 2025, during the 2025 year end period, the Company reviewed its accounting policy for the treatment of fair value movements in its cryptocurrency holdings. Previously, the Company recognised unrealised gains and losses arising from changes in the fair value of cryptocurrencies directly in the Statement of Profit or Loss.
The change in accounting policy has been applied retrospectively in accordance with IAS8. As a result, comparative figures have been restated.
4. Loss/profit per ordinary share
The calculation of a basic (loss)/profit per share is based on the (loss)/profit for the period attributable to equity holders of the Company and on the weighted average number of shares in issue during the period.
Diluted (loss)/profit per share is calculated adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.
For all the periods presented, there is no difference between the diluted loss per share and the basic loss per share presented due to the loss position of the Company. Share options and warrants could potentially dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings per share as they are anti-dilutive for the periods presented.
5. Intangible Assets - cryptocurrencies
Unaudited
Audited
Six months ended 30 April
Year ended 31 October
2026
£'000
2025
£'000
2025
£'000
At start of the period
5,495
3,998
3,998
Additions
-
-
1,458
Yield income/revenue
72
297
564
Fair value (losses)/gains cryptocurrencies
(2,830)
(807)
206
Disposals
(181)
(382)
(724)
Exchange differences
-
-
(7)
At end of the period
2,556
3,106
5,495
At the end of the periods presented below, the Company held cryptocurrencies as detailed:
Unaudited
Audited
Six months ended 30 April 2026
Six months ended 30 April 2025
Year ended 31 October 2025
Number of tokens
Fair value
£'000
Number of tokens
Fair value
£'000
Number of tokens
Fair value £'000
Bitcoin BTC
5.38901
302
1.45960
(86)
5.90063
492
Solana SOL
32,771.72
2,000
29,009.84
3,192
33,358.43
4,747
Bittensor TAO
1,065.60
254
-
-
355.20
130
Meme
-
-
-
-
-*
126
2,556
3,106
5,495
*the Meme coins were made up of a various smaller tokens
Any unrealised gains arising on the revaluation of the intangible assets-cryptocurrencies are allocated to the revaluation reserve account and are non-distributable.
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