What is Upexi's operating margin?

Upexi (UPXI) reported operating margin of -839.8% in Q1 2026.

How has Upexi's operating margin changed year-over-year?

Upexi's operating margin decreased by 618.3% year-over-year, from -116.9% to -839.8%.

What is the long-term trend for Upexi's operating margin?

Over 3 years (2021 to 2025), Upexi's operating margin has grown at a 137.2% compound annual growth rate (CAGR), from 5.9% to -79.1%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Upexi UPXI Operating margin

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Other financials

Income statement

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Revenue$4.6M+44.2%

Gross profit$4.4M+179%

Operating income-$106.8M-2,877%

Net income-$109.3M-2,754%

EPS (diluted)-$1.67+41.8%

Balance sheet

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Cash & equivalents$3.5M+1,412%

Total debt$242.5M+12,119%

Total equity-$51.9M-2,905%

Total assets$200.4M+1,230%

Cash flow

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Operating cash flow-$4.8M-513%

CapEx$11.7K-61.7%

Free cash flow-$4.8M-492%

Valuation

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Market cap$59.22M-50.6%

Enterprise value$298.19M+116%

P/S2.3×-5.3×

Profitability

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Gross margin87%+32.6pp

Net margin-874%-1,071pp

FCF margin-83.2%—

Returns & leverage

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Return on equity-468.5%-935pp

Debt / equity4.4×+3.8×

Current ratio1.7×+1.4×

Where this comes from

Calculated from Upexi’s reported figures.

operating income/total revenue=-839.8%

Based on trailing twelve months.

The official record: Upexi’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upexi's operating margin?: Upexi (UPXI) reported operating margin of -839.8% in Q1 2026.
How has Upexi's operating margin changed year-over-year?: Upexi's operating margin decreased by 618.3% year-over-year, from -116.9% to -839.8%.
What is the long-term trend for Upexi's operating margin?: Over 3 years (2021 to 2025), Upexi's operating margin has grown at a 137.2% compound annual growth rate (CAGR), from 5.9% to -79.1%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.