Empery Digital Inc.

Listed Company

EMPDCIK 0001829794NasdaqEmerging GrowthFinance ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$975.0K

Net Income

$-150.05M

Total Assets

—

Equity

—

Shares Out

28.11M

Op. Cash Flow

$-17.85M

EMPD$3.42−66.14% · past yearDBEQ Basic

Daily closing prices

Business

Empery Digital Inc. is a holding company pursuing a digital asset treasury strategy centered on acquiring and holding Bitcoin as its primary business. The company sells electric two-wheel vehicles (E-Bikes branded as Brat) and provides inventory financing for golf carts and UTVs through supply agreements. It operates through direct consumer sales, international distributors, and dealer networks, while outsourcing all product manufacturing to third parties and holding Bitcoin through institutional custodians.

Summary from 10-K filed 2026-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue:	974,977	4	3	5	448,819
Cost of goods sold	1	18	11	13	11
Gross margin	−362,618	−14	−8	−9	−10
Sales and marketing	1	2	7	6	3
Product development	398,605	2	8	8	10
General and administrative expenses	29	8	6	9	16
Unrealized loss on digital assets	123	0	—	—	—
Total operating expenses	153	12	22	23	29
Loss from operations	−153	−26	−30	−32	−39
Other income, net	2	33,981	−40,555	87,765	−854,022
Loss on repayment of credit facility	−125,377	0	—	—	—
Loss on conversion and extinguishment of Convertible Notes	0	−2	—	—	—
Loss on repayment of May 2024 Notes	0	−1	—	—	—
Gain (loss) on change in fair value of financial liabilities	46,672	−15	—	—	—
Interest income	292,623	0	—	—	—
Interest expense	−2	−643,716	−5	—	—
Total other expense	−474,386	−18	−15	−2	−945,260
Loss before provision for income taxes	−154	−44	—	—	—
Provision for income taxes	0	0	—	—	—
Loss from continuing operations before income tax	−154	−44	—	—	—
Income tax benefit	5	0	0	0	0
Loss from continuing operations	−149	−44	—	—	—
Loss from discontinued operations	−1	−1	—	—	—
Net loss	−150	−46	−45	−34	−40
Loss from continuing operations per common share - basic	−8.04	−1,140	—	—	—
Loss from continuing operations per common share - diluted	−8.04	−1,140	—	—	—
Loss from discontinued operations per common share - basic	−0.08	−35.02	—	—	—
Loss from discontinued operations per common share - diluted	−0.08	−35.02	—	—	—
Net loss per common share basic	−8.12	−1,175	−187,797	−325.2	−8.79
Net loss per common share diluted	−8.12	−1,175	−187,797	−325.2	−8.79
Weighted average common stock outstanding basic	18	38,725	240	105,275	5
Weighted average common stock outstanding diluted	18	38,725	240	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	9	—	2	—	—
Restricted cash	105,000	—	105,000	210,000	551,250
Certificate of deposit	2	—	0	—	—
Accounts receivable, net of allowance for doubtful accounts of $71,869 and $99,233 at December 31, 2025 and December 31, 2024, respectively	312,106	—	88,247	203,303	864,957
Inventory	330,619	—	1	9	6
Inventory deposits	15,556	—	191,156	258,316	427,662
Prepaid expenses and other current assets	2	—	1	2	2
Total current assets	14	—	5	20	20
Digital assets	127	—	0	—	—
Digital assets restricted by lenders as collateral for loans	230	—	0	—	—
Property and equipment, net	234,652	—	206,138	—	—
Intangible asset, net	36,908	—	15,698	0	5,813
Other long-term assets	155,056	—	199,281	199,281	285,037
Right-of-use assets - operating leases	778,235	—	739,234	1	2
Total assets	372	—	6	22	23
Accounts payable	745,466	—	385,326	831,184	1
Accrued liabilities	560,761	—	1	3	2
Vendor settlements - short-term	1	—	2	0	—
Term loan	50	—	0	—	—
Current portion of notes payable	8,047	—	7,181	15,278	—
Warrant liabilities	64,985	—	111,658	6	0
Right-of-use operating lease liabilities - short-term	322,103	—	443,950	399,611	391,117
Customer deposits	3,145	—	216,522	417,485	23,471
Total current liabilities	53	—	5	41	21
Long-term loan	50	—	0	—	—
Notes payable, net of current portion	20,485	—	28,533	69,138	50,116
Vendor settlements - long-term	0	—	1	0	—
Right-of-use operating lease liabilities - long-term	471,683	—	331,222	775,170	1
Total liabilities	103	—	6	42	22
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Preferred stock: $0.00001 par value, 5,000,000 shares authorized, 25,000 shares designated as Series A, no shares issued and outstanding as of December 31, 2025 and December 31, 2024	0	—	0	0	0
Common stock: $0.00001 par value, 250,000,000 shares authorized,33,800,951 shares issued and outstanding as of December 31, 2025 and 78,859 shares issued and outstanding as of December 31, 2024	475	—	0	0	1
Treasury Stock	−96	—	0	—	—
Additional paid-in capital	682	679	166	101	76
Accumulated deficit	−316	−202	−166	−121	−76
Total stockholders equity	269	—	40,761	−20	635,013
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	372	—	6	22	23

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred tax benefit	−5	—	—	—	—
(Gain) loss on change in fair value of financial liabilities	−46,673	15	—	—	—
Noncash interest income on certificate of deposit	−49,413	0	—	—	—
Stock-based compensation	18	310,961	3	3	15
Loss on write down of inventory and inventory deposits	145,124	9	4	—	—
Loss on lease termination	72,544	0	85,756	378,176	0
Loss on sale/write off of property & equipment	76,349	844,945	56,509	—	—
Bad debt expense	40,730	29,560	105,688	0	—
Non-cash interest expense	117,909	553,803	5	2	54,670
Amortization of right-of-use assets	417,330	396,979	369,774	430,644	367,213
Depreciation and amortization	301,537	362,138	—	—	—
Loss on extinguishment of convertible notes	0	1	22	—	—
Loss on conversion of convertible notes to common stock	0	333,544	0	—	—
Gain on exercise of Series B Warrants	0	−165,355	0	—	—
Accounts receivable	−264,589	85,496	555,967	−839,372	−25,585
Inventory	668,921	−933,844	−8	−5	−4
Inventory deposits	175,600	−767,410	169,346	2	−4
Prepaid assets and other current assets	−1	871,498	−53,531	−740,059	−990,071
Accounts payable	360,141	−445,859	−205,444	−417,475	1
Accrued liabilities and vendor settlements	−3	2	1	−204,769	737,715
Right-of-use liabilities - operating leases	−466,036	−399,609	−359,347	−354,340	−240,110
Customer deposits	−213,377	−200,963	394,014	−2	2
Net cash used in operating activities	−18	−16	−30	−34	−24
Purchase of digital assets	−452	0	—	—	—
Proceeds paid for website development	−46,620	0	—	—	—
Purchase of property and equipment	−204,927	−312,090	−949,722	−799,412	−824,905
Proceeds from sale of property and equipment	134,749	23,717	0	—	—
Proceeds from insurance settlement	0	58,060	0	—	—
Purchase of certificate of deposit	−2	0	—	—	—
Net cash used in investing activities	−454	−230,313	−860,722	−799,412	−838,030
Repayment of notes payable	−7,182	−48,702	−80,394	−17,201	−13,158
Proceeds from credit facility, net of issuance costs of $194,551	35	0	—	—	—
Repayment of credit facility	−35	0	—	—	—
Proceeds from term loan, net of issuance costs of $149,913	50	0	—	—	—
Proceeds from Credit facility, net of issuance costs of $62,804	50	0	—	—	—
Proceeds from issuance of common stock units and pre-funded warrant units from February 2025 public offering, net of issuance costs of $1,296,118	11	0	0	—	—
Proceeds from issuance of common stock and pre-funded warrants from July 2025 private placement, net of issuance costs of $21,136,401	452	0	—	—	—
Proceeds from exercise of buy down warrants	2	0	680,978	0	—
Proceeds from the issuance of common stock issued from the At the Market Offering, net of issuance costs of $374,392 in 2025 and $112,814 in 2024	10	184,830	0	—	0
Repurchase of common stock	−96	0	—	—	—
Repurchase of fractional shares	−941	0	—	—	—
Proceeds from issuance of common stock units and pre-funded warrant units from July 2024 public offering, net of issuance costs of $1,210,753	0	11	0	18	—
Repayment of May 2024 Notes	0	−3	0	—	—
Proceeds from issuance of May 2024 Notes and warrants, net of issuance costs of $245,150	0	2	14	0	—
Net cash provided by financing activities	478	10	27	40	30
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	7	−6	−3	6	5
Cash paid for interest	2	88,710	15,935	6,483	23,048
Cash paid for income taxes	0	0	0	0	0
Issuance of common stock for digital assets	28	0	—	—	—
Transfer of inventory to property & equipment	310,813	0	—	—	—
Transfer of digital assets to lender for collateral	230	0	—	—	—
Recognition of right of use asset and liability - operating lease	563,660	0	—	—	—
Conversion of Convertible Notes for common stock	0	7	0	—	—
Exchange of Convertible Notes for Preferred Stock	0	25	0	—	—
Reclassification of warrant liability to equity for cashless exercise of Series A Warrants	0	17	0	—	—
Reclassification of warrant liability to equity for modification of Series B Warrants	0	3	—	—	—
Exchange of property & equipment in lieu of payments due for inventory purchases	0	60,000	0	—	—
Exchange of finished goods inventory with vendor for raw materials inventory	0	417,285	0	—	—
Conversion of preferred stock for common stock	0	3	—	—	—
Issuance of common stock for exercise of pre-funded warrants	25	2	—	—	—

Filings

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Frequently asked questions

What is Empery Digital Inc.'s CIK number?

Empery Digital Inc.'s SEC CIK number is 0001829794 (1829794). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Empery Digital Inc.'s SEC filings?

All of Empery Digital Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Empery Digital Inc. last report earnings?

Empery Digital Inc. (EMPD) most recently filed an earnings 8-K with the SEC on Nov 12, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001683168-25-008167). This is Empery Digital Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Empery Digital Inc.'s most recent earnings 8-K?

Empery Digital Inc.'s latest earnings 8-K (Item 2.02) was filed Nov 12, 2025 under accession 0001683168-25-008167. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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