Total AVAX Holdings of Approximately 13,936,000 as of March 31, 2026

Completed 3.3 Million Share Repurchases Under $40 Million Share Repurchase Program

WEST PALM BEACH, FL, March 31, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (NASDAQ:AVX) ("AVAX One" or the "Company"), today announced its financial and operating results for the fourth quarter and full year ended December 31, 2025, along with an update on its AVAX treasury strategy.

"2025 marked a transformational period for AVAX One, highlighted by the launch of our Avalanche digital asset treasury strategy in November, the scaling of our treasury to approximately 13.9 million AVAX and the buildout of a yield-generating operating platform through staking and validator infrastructure," said Jolie Kahn, Chief Executive Officer of AVAX One. "While our results reflect only a partial year of this new initiative, approximately half of our full-year 2025 revenue was generated in the fourth quarter alone, demonstrating the early impact of our differentiated strategy and our ability to execute. We have also been executing opportunistic share repurchases through our $40 million share repurchase program, reflecting our conviction in the intrinsic value of the business and our commitment to disciplined capital allocation."

Fourth Quarter 2025 Financial Summary (vs. Q4 2024)

Total Revenue: Total revenue for the fourth quarter of 2025 increased materially to $1.1 million compared to approximately $27,000 in the fourth quarter of 2024. The increase was primarily driven by AVAX One's new Avalanche digital asset treasury strategy, which generated approximately $607,000 in staking rewards in Q4 2025, coupled with a full quarter of Bitcoin mining, which generated approximately $480,000 in revenue.

Total Operating Expenses: Total operating expenses in the fourth quarter of 2025 were $16.8 million compared to $2.1 million in the fourth quarter of 2024. The increase was primarily driven by a $7.8 million non-cash unrealized loss on the market value of the Company's digital assets, as well as a $5.6 million non-cash impairment related to the write-down of intellectual property for a patent for a fiber-rich flour the Company purchased in 2021. Excluding these non-cash charges, operating expenses for the fourth quarter of 2025 were $3.4 million.

Net Loss: Net loss for the fourth quarter of 2025 was $16.6 million or $(4.11) per diluted share compared to net loss of approximately $1.9 million or $(12.69) per diluted share in the fourth quarter of 2024.

Cash and Cash Equivalents: As of December 31, 2025, the Company had $22.1 million in cash and cash equivalents, compared to approximately $490,000 on December 31, 2024. AVAX One believes its cash balance provides approximately three years of operating runway without the need to raise external capital.

Operational Highlights

Obtained shareholder approval and launched the first publicly traded, Avalanche treasury strategy on November 5, 2025, raising approximately $219 million in a private investment in public equity ("PIPE") offering.
Completed a corporate rebrand to AVAX One Technology Ltd. and began trading under new ticker "AVX" on the Nasdaq exchange, reflecting the Company's strategic transformation into a digital asset treasury company.
Repurchased approximately 3.3 million shares of its common stock through its previously authorized $40 million share repurchase program.
Launched an institutional-grade Avalanche treasury dashboard, providing investors with real-time visibility into key portfolio metrics, including AVAX holdings, estimated net asset value ("NAV") and capital structure.
Established proprietary validator infrastructure to support staking, enhance ecosystem participation and drive incremental yield generation on AVAX holdings.
Engaged Treehouse, a digital assets infrastructure firm, to expand yield generation on AVAX holdings, deploying more than 800,000 AVAX into liquid staking infrastructure.

2026 Guidance

AVAX One is reiterating its previously issued full year 2026 guidance below:

	Current Spot Price^[1]	2025 Avg. Price^[2]	2025 High Price^[3]
Revenue	$11M - $12M	$24M - $25M	$43M - $44M
Change vs. prior year period	~5x	~10x	~19x
EBITDA	$2M - $3M	$10M - $11M	$24M - $25M

^[1] Assumes Bitcoin price of ($70,000.00) and Avalanche price of ($9.00).

^[2] Assumes Bitcoin price of ($101,877.40) and Avalanche price of ($22.43).

^[3] Assumes Bitcoin price of ($124,720.00) and Avalanche price of ($44.10).

Kahn added, "We have entered 2026 with strong momentum and a clear mandate to scale AVAX One as the leading public market gateway to the Avalanche ecosystem. We expect the full-year impact of AVAX accumulation, staking and validator operations to drive meaningful revenue growth, operating leverage and a path to positive EBITDA under current market conditions. Our capital allocation strategy remains highly disciplined and opportunistic, balancing AVAX accumulation, yield-generating initiatives and share repurchases where we see a disconnect between market value and the intrinsic value of our business. At the same time, we are advancing strategic acquisition opportunities to further expand our footprint within the fintech economy and accelerate long-term AVAX per share growth."

Conference Call and Webcast Details

The Company will conduct a conference call today, March 31, 2026, at 5:00 p.m. Eastern time to discuss its financial and operating results for the fourth quarter and full year ended December 31, 2025.

AVAX One's management team will host the conference call, followed by a question-and-answer session.

Date: Tuesday, March 31, 2026

Time: 5:00 p.m. ET

Toll-free dial-in number: (877) 407-8037

International dial-in number: (201) 689-8037

Webcast: AVAX One's Q4 & FY 2025 Earnings Conference Call

Participants can also access the Company's earnings call using the call me option here for instant telephone access to the event, which will be active approximately 15 minutes before the scheduled start time. If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

The conference call will also be available for replay on the investor relations section of the Company's website at www.avax-one.com.

About AVAX One Technology Ltd.

AVAX One Technology Ltd. (NASDAQ:AVX) is the first publicly traded Avalanche Treasury company, building the premier institutional gateway to the onchain financial economy powered by the Avalanche blockchain network. Through AVAX accumulation, onchain yield, and strategic acquisitions, the Company aims to compound long-term value for its shareholders while supporting the growth of the Avalanche ecosystem. Led by a team of veterans from institutional finance and public company backgrounds and advised by leaders from across the digital asset industry, AVAX One is being built to be a scalable, regulated gateway for public market investors to participate in the growth of the onchain economy. For more information, visit www.avax-one.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating to the anticipated benefits and timing of the completion of the proposed offering and related transactions, the intended use of proceeds from the PIPE offering, expectations regarding future capital raising activity, the assets to be held by the Company, expectations regarding adoption of the Avalanche network, the expected future market, price and liquidity of the digital assets the Company acquires, the macro and political conditions surrounding digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other entities in similar business strategies, technological and market trends, future financial condition and performance, the expected financial impacts of the proposed transactions described herein, and the timing of the closing of the PIPE offering. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the proposed transactions described herein may not be completed in a timely manner or at all; failure to realize the anticipated benefits of the transactions and the proposed AVAX strategy; changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of AVAX and other cryptocurrencies; the risk that the price of the Company's securities may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company's filings with the SEC. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The statements made in this press release are not intended to be projections of the Company's future results nor an offer of a future securities transaction by the Company. Any offering in the future will be made through compliance with all applicable regulations and the filing of appropriate documents with the SEC, as required under those regulations.

Investor Relations Contact

Sean Mansouri, CFA or Aaron D'Souza

Elevate IR

(720) 330-2829

AVX@elevate-ir.com

Media Contact

Ethan Lyle

Prospero

avax-one@prosperoadvisors.xyz

AVAX ONE TECHNOLOGY LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

		December 31, 2025			December 31, 2024
ASSETS
Current
Cash and cash equivalents	$	22,135,450		$	489,868
Escrow receivable		5,430,000			-
Other receivables		17,085			115,520
Deposit receivable		58,177			73,849
Prepaid expenses and other current assets		5,863,052			320,213
Current assets in discontinued operations		-			281,501
Total current assets		33,503,764			1,280,951

Non-current
Property and equipment, net		4,246,247			808,895
Digital assets, non-current		153,670,360			26,282
Intangible assets, net		408,857			7,813,576
Intangible asset held for sale		1,550,000			-
Goodwill		1,535,333			-
Lease deposit, non-current		50,079			45,224
Long-term assets in discontinued operations		-			789,055
Total assets	$	194,964,640		$	10,763,983

LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities	$	1,279,970		$	2,484,184
Debentures, net of discount		6,439,045			1,443,209
Derivative liabilities, current		-			293,761
Loan payable		220,000			-
Other current liabilities		50,000			-
Current liabilities in discontinued operations		-			99,111
Total current liabilities		7,989,015			4,320,265

Non-current
Derivative liabilities		-			191,902
Long-term debt		-			41,699
Long-term liabilities in discontinued operations		-			98,864
Total liabilities		7,989,015			4,652,730
Commitments and contingencies - See Note 18

Shareholders' equity
Common shares, no par value per share - unlimited shares authorized; 92,938,802 and 172,255 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively*		283,295,592			65,042,657
Additional paid-in-capital		22,967,868			2,964,795
Subscription receivable - digital assets		(24,233,587	)		-
Obligation to issue shares		44,214			44,214
Accumulated deficit		(93,977,325	)		(60,782,119	)
Accumulated other comprehensive loss		(1,121,137	)		(1,158,294	)
Total shareholders' equity		186,975,625			6,111,253

Total liabilities and shareholders' equity	$	194,964,640		$	10,763,983

AVAX ONE TECHNOLOGY LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
For the quarters ended December 31, 2025 and 2024

		Q4 2025			Q4 2024
REVENUE	$	1,089,687		$	26,572

OPERATING EXPENSES
Cost of revenue, excluding depreciation	$	701,905		$	56,048
Depreciation and amortization		329,888			156,771
Impairment of assets		5,563,227			-
Consulting		257,183			65,348
Investor and public relations		169,501			169,032
Lease expense		27,307			866
Office and administrative		588,776			(190,726	)
Professional fees		322,329			196,997
Repairs and maintenance		(18,970	)		20,610
Research and development		(1	)		70,198
Sales and marketing		27,581			44,631
Severance expense		231,104			-
Share-based compensation		173,550			259,416
Shareholder and regulatory		87,370			66,899
Travel and entertainment		62,964			15,232
Wages and salaries		458,657			1,050,661
Realized gain on sale of digital assets		(38,357	)		-
Unrealized loss on market valuation of digital assets		7,847,075			-
Write-off deposit		-			50,000
Legal settlement		-			111,196
Write-off inventory		5,961			-
Total operating expenses		16,797,050			2,143,179

Operating loss		(15,707,363	)		(2,116,607	)

OTHER (INCOME) EXPENSE
Accretion of interest on debentures		827,151			305,957
Change in fair value of derivative liabilities		0			(193,976	)
Foreign exchange loss (gain)		6,895			(177,911	)
(Gain) loss on conversion of convertible debt		0			-
Loss on debt extinguishment		11,527			582,056
Gain on extinguishment of warrant liability		-			-
Other (income) expense		33,251			73,443
Other loss		51,997			-
Total other expenses, net		930,820			589,569

Net loss from continuing operations		(16,638,183	)		(2,706,176	)

Loss from operations of discontinued operations		0			(82,873	)
Loss on disposal of discontinued operations		(0	)		880,482
Net loss from discontinued operations		0			797,609

Net loss	$	(16,638,183	)	$	(1,908,567	)

AVAX ONE TECHNOLOGY LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
For the years ended December 31, 2025 and 2024

		2025			2024
REVENUE	$	2,340,811		$	26,572

OPERATING EXPENSES
Cost of revenue, excluding depreciation	$	1,430,667		$	56,048
Depreciation and amortization		1,204,126			650,239
Impairment of assets		5,563,227			4,137,271
Consulting		447,258			393,142
Investor and public relations		570,194			273,492
Lease expense		49,798			60,224
Office and administrative		1,134,384			663,155
Professional fees		1,093,327			614,332
Repairs and maintenance		388,423			20,610
Research and development		18,774			75,285
Sales and marketing		141,361			123,653
Severance expense		356,087			-
Share-based compensation		1,520,156			387,090
Shareholder and regulatory		238,723			165,779
Travel and entertainment		72,078			47,147
Wages and salaries		2,091,507			2,256,402
Realized gain on sale of digital assets		(86,728	)		-
Unrealized loss on market valuation of digital assets		7,766,498			-
Write-off deposit		-			50,000
Legal settlement		-			111,196
Write-off inventory		5,961			38,470
Total operating expenses		24,005,821			10,123,535

Operating loss		(21,665,010	)		(10,096,963	)

OTHER (INCOME) EXPENSE
Accretion of interest on debentures		3,148,068			2,978,722
Change in fair value of derivative liabilities		(2,976,911	)		(1,392,530	)
Foreign exchange loss (gain)		80,443			(204,730	)
(Gain) loss on conversion of convertible debt		(86,563	)		1,627,858
Loss on debt extinguishment		10,131,237			2,805,306
Gain on extinguishment of warrant liability		-			(14,769	)
Other (income) expense		33,251			(29,319	)
Other loss		-			4,252
Total other expenses, net		10,329,525			5,774,790

Net loss from continuing operations		(31,994,535	)		(15,871,753	)

Loss from operations of discontinued operations		(320,189	)		(403,062	)
Loss on disposal of discontinued operations		(880,482	)		-
Net loss from discontinued operations		(1,200,671	)		(403,062	)

Net loss	$	(33,195,206	)	$	(16,274,815	)
Other comprehensive loss
Foreign currency translation		37,157			(831,698	)
Comprehensive loss attributable to common shareholders	$	(33,158,049	)	$	(17,106,513	)

Earnings per share:
Basic net loss per common share for continuing operations	$	(1.95	)	$	(200.17	)
Basic net loss per common share for discontinued operations	$	(0.07	)	$	(5.08	)
Basic net loss per common share, total	$	(2.03	)	$	(205.25	)

Diluted net loss per common share for continuing operations	$	(2.08	)	$	(195.08	)
Diluted net loss per common share for discontinued operations	$	(0.07	)	$	(4.43	)
Diluted net loss per common share, total	$	(2.15	)	$	(199.51	)

Weighted average number of common shares outstanding – basic and diluted*
Basic		16,390,876			79,292
Diluted		16,646,525			91,049

*Reflects the 1:9 reverse stock split effected on July 28, 2025 and 1:100 reverse stock split effected on December 5, 2024. Additional information regarding the reverse stock splits may be found in Note 2, "Basis of Presentation" included in the notes to the consolidated financial statements.

AVAX One Reports Fourth Quarter and Full Year 2025 Financial and Operating Results