$3.22 per common share is the net asset value SRX Global Inc. (NYSE American: SRXH) reported for its fiscal third quarter ended June 30, 2026, clearing the company's own preliminary estimate of $3.07 by 15 cents. The math is direct: $65.2 million in current assets less $2.4 million in total liabilities equals $62.9 million in NAV, divided across 19,517,637 shares outstanding following a one-for-sixty reverse stock split effective July 6, 2026.
Balance sheet composition
Current assets of $65.2 million break down as follows, all reported as of quarter-end:
| Asset category | Amount |
|---|---|
| Cash, equivalents, and restricted cash | $36.7M |
| Short-term investments | $7.5M |
| Equity securities | $5.5M |
| Notes receivable | $4.9M |
| Accounts receivable and inventories | $6.2M |
| Digital assets | $2.1M |
| Prepaid and other current assets | $2.3M |
| Total current assets | $65.2M |
Total liabilities of $2.4 million leave the company with no debt outstanding. Cash alone covers liabilities by more than 15 times.
Operating results and portfolio performance
Net sales for the quarter rose 27% year over year to $3.4 million. Operating loss narrowed 63% year over year to $3.2 million. Adjusted EBITDA loss improved 35% year over year to $1.6 million, and net loss from continuing operations improved 40% year over year and 35% quarter over quarter to $4.1 million. Chief Executive Officer Kent Cunningham cited the EMJX acquisition, Halo's operational gains, and the balance sheet position as the quarter's defining outcomes.
Halo, one of SRX's operating businesses, averaged 93% fill rates across the quarter and reached 98% in June. On Prime Day, Halo posted 13% year-over-year growth in new-to-brand customers and a search cost-per-click of $2.51, approximately 8% below the pet category benchmark, per the company.
SRX completed the acquisition of EMJX, an AI-enabled digital-asset treasury platform led by Eric M. Jackson, on June 16, 2026. The company disclosed hypothetical, system-generated model performance for the EMJX strategy: from its February 11, 2026 inception through June 30, 2026, maximum drawdown was approximately 10.6%, versus a range of approximately 28% to 58% for four primary benchmark comparators, IBIT, ETHA, MSTR, and BMNR, over the same period. These numbers represent model outputs, not actual returns on capital deployed.
During the 14 days from June 16 through June 30, the EMJX model generated hypothetical performance of 4.3% while Bitcoin declined approximately 10.8%, approximately 15.1 percentage points of outperformance. The company flagged the measurement window as too short to draw conclusions and said it intends to evaluate the strategy's risk profile and downside management as actual deployment history builds.
SRX approved a 10 million share repurchase program, with capacity fully available after the blackout period tied to its 10-Q filing. The company declared a one-time cash dividend of $0.05 per share, totaling approximately $1.3 million in aggregate, to shareholders of record as of July 22, 2026, and reported the payment has been fully funded with its paying agent. Separately, SRX recognized a $1.4 million loss from changes in the fair value of digital assets during the quarter, partially offset by $0.6 million in aggregate gains from equity securities and derivative liabilities.