NEW YORK, May 15, 2026 /PRNewswire/ -- Sharps Technology, Inc. ("STSS" or the "Company"), a medical device sales and distribution company that has adopted a Solana-based digital asset treasury strategy, has announced financial results for the first quarter ended March 31, 2026, and provided an update on the continued execution of its treasury and infrastructure strategy.
"The first quarter of 2026 shows that the strategic repositioning we completed last year is continuing to translate into meaningful financial performance," said Paul K. Danner, Executive Chairman of Sharps. "We begin the second quarter with a treasury that is actively generating yield, giving us the financial flexibility to advance the next phase of our strategy - one focused on scaling shareholder value and unlocking new sources of recurring income over time."
Key Highlights from Q1 2026:
- As of March 31, 2026, STSS held approximately 2 million SOL in its treasury.
- The Company's cash balance was approximately $12.3 million as of March 31, 2026.
- The Company had total revenue of approximately $3.3 million for Q1 2026, including $3.1 million in net staking revenue, which represented an approximately 6% gross annualized validator staking yield, and $0.2 million in product revenue from medical device distribution.
The Company enters the second quarter of 2026 with a productive digital asset treasury and continued institutional relevance within the Solana ecosystem. Management believes the Company is positioned to utilize our effective treasury execution as the foundation to support broader strategic initiatives intended to enhance the Company's long-term growth profile and open additional opportunities for future revenue generation.
For more detailed information, please refer to the Quarterly Report on Form 10-Q for the three months ended March 31, 2026 filed with the U.S. Securities and Exchange Commission, and accessible at www.sec.gov.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this release other than statements of historical fact are forward-looking statements, including statements regarding the Company's execution of its Solana digital asset treasury strategy and the potential opportunities such initiatives may create for retail and institutional audiences. Forward-looking statements are based on current expectations, assumptions, and beliefs, and involve risks and uncertainties that could cause actual results to differ materially.
These risks and uncertainties include, among others: the Company's ability to successfully execute its Solana treasury strategy; volatility in the market price of SOL and other digital assets; changes in the regulatory or legal environments; competitive pressures; and general market, economic, and business conditions. Additional risks are described in the "Risk Factors" section of the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise these statements, whether as a result of new information, future developments, or otherwise, except as required by law.
About Sharps Technology
Sharps Technology is a medical device sales and distribution company that has adopted a digital asset treasury strategy focused on accumulating SOL, the native digital asset of the Solana blockchain. For additional information, please visit the Company's website www.sharpstechnology.com.
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SOURCE Sharps Technology Inc
