Twenty One Capital (NYSE:XXI) Announces Earnings Results

Twenty One Capital (NYSE:XXI) posted its quarterly earnings results on Friday. The company reported ($0.01) 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 Stock Performance

NYSE:XXI traded down $0.06 during midday trading on Friday, reaching $4.94. 1,054,246 shares of the company traded hands, compared to its average volume of 1,565,662. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -24.68 and a beta of -1.06. The company has a fifty day moving average price of $5.96 and a 200 day moving average price of $6.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 71.03 and a quick ratio of 71.03. Twenty One Capital has a twelve month low of $4.15 and a twelve month high of $12.51.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on XXI shares. Wall Street Zen upgraded Twenty One Capital from a “strong sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings restated a “sell (d)” rating on shares of Twenty One Capital in a research report on Wednesday, November 4th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus 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.