Antalpha shares rise despite earnings miss and weak second-quarter outlook (ANTA)

Revenue growth and profitability improvements support shares

Antalpha Platform Holding Company (NASDAQ:ANTA) reported first-quarter results on Tuesday that fell short of analyst expectations, while also issuing second-quarter guidance well below market forecasts.

Despite the weaker outlook, shares of the digital asset infrastructure platform rose 3.34% in premarket trading following the announcement.

The company posted adjusted earnings of $0.07 per share for the quarter, below analyst expectations of $0.22 per share.

Revenue increased 52% year-on-year to $20.7 million, compared with $13.6 million in the same period last year.

Second-quarter guidance disappoints investors

Antalpha projected second-quarter revenue in a range of $11 million to $13 million. The midpoint of the guidance, at $12 million, came in significantly below analyst consensus estimates of $21.25 million.

“Antalpha continued to demonstrate the resilience and scalability of its platform in the first quarter, with sustained revenue growth and profitability through a more challenging market environment,” said Paul Liang, Chief Financial Officer.

Net income attributable to Antalpha rose to $2.7 million from $1.5 million in the first quarter of 2025.

Adjusted EBITDA climbed sharply to $13.3 million from $2.5 million a year earlier, representing year-on-year growth of 435%. However, the result included around $12.9 million in unrealized gains linked to holdings of tokenized gold (XAUt).

Adjusted EBITDA margin expanded to 64%, compared with 18% in the prior-year period.

Loan activity declines as company expands AI and blockchain initiatives

The total value of loans facilitated stood at $1.7 billion as of March 31, 2026, down 3% from a year earlier. The company said the decline reflected more cautious deployment activity amid weaker Bitcoin prices and significant repayments from several large borrowers.

Operating expenses excluding unrealized gains increased 102% year-on-year to $25.0 million. The figure included $10.4 million in funding costs and approximately $3.3 million in one-time restructuring charges.

In May 2026, Antalpha launched a beta version of its Web3 AI agent, designed to allow users to interact with blockchain networks using natural language commands.

The company said the initiative is not expected to have a material financial impact in the near term.

Antalpha Platform Holding Company stock price