Stablecoin Development Corporation (NYSE American: SDEV) reported financial results for the third quarter and first nine months of 2026. The company announced a net income of $50.4 million for the quarter ended September 30, 2026, or $0.23 per basic and diluted share.
The filing details that this net income was driven by a $58.8 million non-cash unrealized gain on digital assets. This gain resulted from a 49% increase in the market price of the SKY token during the quarter. The price of SKY rose from $0.05215 per token at June 30, 2026, to $0.07764 per token at September 30, 2026.
As of September 30, 2026, the company held 2,321,079,862 SKY tokens. This position represents approximately 10% of the total SKY supply and has a fair value of $180.2 million. The company earned 34.6 million SKY in staking rewards during the quarter and reported staking revenue of $2.1 million.
The company’s balance sheet shows total assets of $188.2 million, consisting of $7.2 million in cash and cash equivalents and $180.2 million in digital assets. Total liabilities were $6.1 million, primarily consisting of a non-cash net deferred tax liability of $5.6 million. The company reported no debt and no warrant liabilities outstanding.
Subsequent to the quarter end, the company received approximately $45.9 million of net proceeds through its at-the-market (ATM) offering program. As of October 26, 2026, the company held approximately 2.33 billion SKY tokens, representing about 10% of total SKY supply, with a market value of approximately $157.6 million based on a price of $0.06761 per token.
