SHARPE
Reported results
- Total revenue was $32.6 million, up 52% from $21.5 million in the third quarter of 2025.
- Total gross margin, on a GAAP basis, was 73.0% compared to (17.5)% in the prior year period.
- Adjusted gross margin was 73.0% compared to 63.9% in the prior year period.
- GAAP net loss was $12.8 million compared to $34.0 million in the third quarter of 2025.
- Adjusted EBITDA loss was $1.2 million, an improvement from an adjusted EBITDA loss of $8.1 million in the third quarter of 2025.
- GAAP EPS was $(0.05) compared to $(0.13) in the prior year period, while adjusted EPS was $(0.01) compared to $(0.04) in the prior year period.
Guidance
- Full Year 2026 Revenue: $123 million to $126 million, representing approximately 26% to 29% growth
- Full Year 2026 Adjusted EBITDA loss: $12 million to $15 million
- Fourth Quarter 2026 Revenue: $31 million to $34 million, representing approximately 3% growth year-over-year at the midpoint
- Fourth Quarter 2026 Adjusted EBITDA loss: $3 million to $6 million
Price and volatility reaction
The stock moved -3.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -20.6 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 7.81 | 2026-10-28 |
| Close after release | 7.51 | 2026-10-29 |
| Realised move | -3.8% | close to close |
| 30d ATM IV change | -20.6 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.