Eightco Holdings Inc. (ORBS) reported a net income of $17.7 million for the second quarter of 2026. This result marks a significant swing from the $1.17 million net loss recorded during the same period last year. A $29.3 million gain from the fair value change of digital assets, specifically Worldcoin and Ethereum, drove the quarterly profit.
Quarterly revenue plummeted 72.7% year-over-year to $2.07 million from $7.58 million. A sharp drop in orders from the company's largest customer caused the decline. This single customer accounted for 99% of total revenue and is currently experiencing deteriorating financial conditions.
Eightco is executing a strategic pivot away from e-commerce toward digital assets and technology investments, including stakes in OpenAI and Beast Industries. Operating losses widened to $11.81 million during the quarter. Higher administrative costs associated with capital raising and the new digital strategy contributed to the increased loss.