Antalpha revenue skyrockets 52% on digital asset gains

Antalpha Platform Holding ((NASDAQ:ANTA) reported a 52% increase in first-quarter revenue, hitting the lower bound of its internal forecast as expansion into tokenized gold strategies cushioned a slight cooling in Bitcoin-collateralized loan deployment.

The Singapore-based digital asset fintech provider generated total revenue of $20.7 million for the three months ended March 31, 2026, up from $13.6 million in the first quarter of fiscal 2025.

Unaudited net income attributable to Antalpha rose 85% to $2.7 million, or up from the $1.5 million recorded in the prior-year period.

The quarter’s results reflect the consolidation of financial statements from Aurelion, a digital asset enterprise in which Antalpha acquired a controlling stake in October 2025.

Driven by this consolidation, non-GAAP adjusted EBITDA surged more than fivefold to $13.3 million, yielding an adjusted EBITDA margin of 64%.

Management attributed the margin expansion largely to non-cash, unrealized gains accrued on Tether Gold (XAUt) treasury holdings via the Aurelion segment.

The company's total value of loans (TVL) facilitated across its platform stood at $1.7 billion at quarter-end, representing a modest 3% decline year-over-year.

The localized drop was influenced by institutional loan repayments and a more measured deployment pace during a period of weaker baseline Bitcoin pricing.

Within the portfolio, supply chain TVL decreased 25% to $434 million, while third-party margin loans—for which Antalpha acts as an agent earning platform fees without principal credit exposure—increased 8% to $1.28 billion.

Operationally, Antalpha advanced its digital asset infrastructure pipeline, committing thousands of XAUt units to tokenized gold protocols.

The firm also launched the public beta phase of its proprietary Web3 artificial intelligence agent, designed to automate multi-chain decentralized risk management for institutional collateral monitoring.

For the second quarter of fiscal 2026, Antalpha issued a more conservative revenue guidance range of $11 million to $13 million, factoring in broader digital asset trading volume compression and anticipated fluctuations in baseline asset valuations.