Twenty One Capital (NYSE:XXI) Releases Earnings Results

Twenty One Capital (NYSE:XXI) issued its earnings results on Friday. The company reported ($0.01) earnings per share (EPS) for the quarter, Zacks reports.

Here are the key takeaways from Twenty One Capital’s conference call:

• Twenty One reported $1.1 billion in third-quarter net income, driven primarily by a noncash $1.1 billion gain as Bitcoin rose to about $83,700 from $58,600. Its Bitcoin holdings stayed flat at 43,514, and the company recorded a $186.5 million net loss for the first nine months of 2026.
• The company has yet to establish meaningful operating earnings: management said building cash-generating businesses is now the priority, while third-quarter operating cash use was $1.7 million. The potential Elektron transaction remains under review, with no definitive agreement signed.
• At quarter-end, Twenty One had about $103 million in cash and $486.5 million of convertible notes due in 2030; 16,116 Bitcoin were pledged as collateral. Management said debt obligations, liquidity needs, and other commitments constrain how much capital is available to deploy.
• Management is evaluating acquisitions in areas including mining, lending, treasury, and energy, but said opportunities must compete with holding Bitcoin and meet return and financing tests. Share repurchases are also under consideration when shares trade below the value of their assets, subject to liquidity, approvals, and trading restrictions.

Twenty One Capital Trading Down 0.9%

Shares of XXI traded down $0.04 on Friday, hitting $4.96. 960,301 shares of the stock traded hands, compared to its average volume of 1,565,376. The company has a quick ratio of 71.03, a current ratio of 71.03 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.79 billion, a P/E ratio of -24.82 and a beta of -1.06. The stock’s 50 day moving average is $5.96 and its two-hundred day moving average is $6.25. Twenty One Capital has a 1 year low of $4.15 and a 1 year high of $12.51.

Wall Street Analysts Forecast Growth

XXI has been the topic of several recent research reports. Wall Street Zen upgraded shares of Twenty One Capital from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “sell (d)” rating on shares of Twenty One Capital in a report on Wednesday, November 4th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Twenty One Capital currently has an average rating of “Sell”.

About Twenty One Capital

Twenty One Capital is a Bitcoin-focused company that aims to build its business around Bitcoin and its broader financial ecosystem. Its activities include holding Bitcoin as a corporate treasury asset and developing Bitcoin-related financial and capital-markets services. The company was formed with backing from Tether, Bitfinex, SoftBank and Cantor Fitzgerald and became publicly traded through a business combination with Cantor Equity Partners. Jack Mallers, founder and chief executive of Bitcoin payments company Strike, was named Twenty One Capital’s chief executive.