Earnings summaries and quarterly performance for CEA Industries.
Research analysts covering CEA Industries.
Recent press releases and 8-K filings for BNC.
CEA Industries Inc. (BNC) Reports Q2 2026 Earnings and Strategic Transformation
BNC
Earnings
New Projects/Investments
Share Buyback
- CEA Industries Inc. (BNC) reported Q2 2026 Net Income of $283.6 million, which included a $206.8 million gain on change in fair value of warrant liability, and EPS of $5.36 for the quarter ended October 31, 2025.
- The company completed a $500 million private placement on August 5, 2025, and its common stock began trading on Nasdaq under the new ticker symbol "BNC" on August 6, 2025.
- BNC initiated its digital asset treasury strategy, accumulating over 500,000 BNB tokens during the quarter, with a publicly stated goal of owning 1% of the total BNB supply.
- A $250 million stock buyback program was announced, under which 1.8 million shares of common stock were acquired for $11.3 million at an average price of $6.27 per share.
Dec 15, 2025, 11:34 PM
CEA Industries Reaffirms BNB Strategy and Addresses Shareholder Engagement
BNC
Board Change
New Projects/Investments
Proxy Vote Outcomes
- CEA Industries Inc. (BNC) reaffirmed its commitment to its BNB Digital Asset Treasury (DAT) strategy, aiming to become the world's largest BNB treasury company.
- As of December 4, 2025, BNC held 515,554 BNB tokens, with a market value of approximately $464.6 million at a price of $901.27 per BNB.
- The company responded to YZi Labs' proposal to reconstitute its Board, noting the recent appointment of Annemarie Tierney and Carly E. Howard as independent directors, and stated its intent to file a consent revocation statement.
- BNC expressed its commitment to engaging in constructive discussions with YZi and other shareholders to build long-term value.
Dec 5, 2025, 1:15 PM
CEA Industries Inc. Launches Treasury Dashboard and Provides Corporate Update
BNC
Product Launch
Share Buyback
New Projects/Investments
- CEA Industries Inc. (BNC) launched its new Treasury Dashboard on November 19, 2025, offering investors a consolidated view of its operating metrics, BNB holdings, treasury strategy, and capital markets activities.
- As of November 18, 2025, BNC holds 515,054 BNB, with an average acquisition cost of ~$851.29/BNB, a total invested amount of ~$438.5M, and an estimated value of ~$481M. The company has realized a BNB yield of ~1.5% since August 5, 2025, reflecting a >5% annualized rate of return.
- Since September 22, 2025, BNC has repurchased 1,170,306 shares of common stock at an average price of $6.77 per share. Additionally, since August 25, 2025, the company sold 856,275 shares of its common stock at an average price of $15.09 per share through an at-the-market offering program.
Nov 19, 2025, 3:12 PM
CEA Industries Inc. Crosses Half-Million BNB Milestone
BNC
New Projects/Investments
Board Change
Management Change
- CEA Industries Inc. (BNC) announced it now holds a total of 500,000 BNB tokens.
- The average acquisition cost for these tokens is approximately $870 per BNB, representing a total invested amount of $435 million.
- As of October 20, 2025, the estimated value of its BNB holdings is $546.8 million, bringing total crypto and cash holdings to $596.8 million including $50 million in unencumbered cash.
- The company is progressing towards its stated goal of owning 1% of the total BNB supply by the end of 2025.
Oct 21, 2025, 12:15 PM
BNC Reports 480,000 BNB Tokens and $663 Million in Total Crypto and Cash Holdings
BNC
New Projects/Investments
Guidance Update
- CEA Industries Inc. (BNC) announced it holds 480,000 BNB tokens acquired at an average cost of $860 per BNB, totaling approximately $412.8 million invested.
- As of October 6, 2025, the estimated value of its BNB holdings was $585.5 million, and the company also retains $77.5 million in unencumbered cash and cash equivalents.
- Total crypto and cash holdings amounted to $663 million as of October 6, 2025.
- BNB token prices reached an all-time high of $1,236.74 on October 6, 2025, solidifying BNC's position as the world's largest BNB Treasury Company.
- BNC aims to own 1% of the total BNB token supply by the end of 2025.
Oct 7, 2025, 3:15 PM
CEA Industries Inc. Board Authorizes $250 Million Stock Buyback Program
BNC
Share Buyback
- CEA Industries Inc. (BNC) announced on September 22, 2025, that its Board of Directors authorized a stock repurchase program of up to $250 million of the company's common stock.
- The company has entered into an Open Market Share Repurchase Agreement with Cantor Fitzgerald & Co. to act as a non-exclusive agent for the repurchases, which may occur through open market purchases, privately negotiated transactions, or other permitted means, including Rule 10b-18 trading plans.
- The program's goal is to enhance net asset value per share and deliver sustained returns for shareholders, with the timing and amount of repurchases being flexible and dependent on market conditions and other factors.
Sep 25, 2025, 8:15 PM
BNC Reports Fiscal Q1 2026 Results and BNB Digital Asset Treasury Strategy
BNC
Earnings
New Projects/Investments
- CEA Industries Inc. (BNC) reported its Fiscal Q1 2026 financial results for the period ended July 31, 2025.
- The company announced and closed a $500 million private placement on August 5, 2025, with the potential to deliver up to $1.25 billion in gross proceeds if all associated warrants are exercised.
- BNC is embracing a new BNB Digital Asset Treasury Strategy, targeting 1% ownership of BNB's total supply by year-end 2025. The acquisition of these digital assets commenced subsequent to the Q1 reporting period and will be reflected in the Fiscal Q2 financials.
- The company's common stock began trading under the new ticker symbol "BNC" on Nasdaq on August 6, 2025.
Sep 23, 2025, 1:10 PM
CEA Industries Files Registration Statement for PIPE Transaction and Announces Share Repurchase Program
BNC
New Projects/Investments
Share Buyback
- CEA Industries Inc. (BNC) filed an S-3 automatic registration statement on September 19, 2025, for its previously disclosed $500 million PIPE transaction and up to $750 million warrant transaction.
- CEO David Namdar released a letter to shareholders on September 21, 2025, providing an update on the company's strategy to accumulate BNB as a corporate treasury asset.
- The company noted that BNB has increased by 35.6% since BNC's transaction closure on August 5, 2025, and 47.5% year to date in 2025.
- BNC also announced a board-authorized $250 million share repurchase program designed to capture discounts to NAV and improve BNB per share concentration.
Sep 22, 2025, 10:02 AM
CEA Industries Reveals Significant BNB Token Holdings and Strategic Transformation
BNC
New Projects/Investments
Revenue Acceleration/Inflection
- CEA Industries (BNC) has disclosed it holds 388,888 BNB tokens, valued at approximately $330 million, and aims to acquire 1% of BNB's total supply before 2026.
- The company completed a $500 million capital raise from over 140 institutional investors and rebranded by changing its ticker from VAPE to BNC, signaling its transformation into a dedicated BNB investment vehicle.
- With potential additional warrant proceeds of $750 million, BNC's total BNB holdings could increase to over $1.25 billion, positioning it for significant institutional exposure to blockchain infrastructure.
Sep 3, 2025, 1:00 PM
CEA Industries Announces Strategic Shift to BNB Treasury and Leadership Changes
BNC
New Projects/Investments
Management Change
- CEA Industries (BNC) has strategically shifted its focus to become the world's largest corporate holder of BNB tokens, with current treasury holdings exceeding 350,000 BNB tokens, an increase of more than 150,000 tokens beyond its initial 200,000 purchase.
- This strategy was funded by a $500 million private placement specifically earmarked for BNB token acquisition, and the company changed its ticker symbol from VAPE to BNC to reflect its new identity.
- Key leadership appointments include David Namdar as CEO and Russell Read as CIO, bringing significant crypto and institutional finance experience to the company.
Aug 28, 2025, 2:21 PM
Quarterly earnings call transcripts for CEA Industries.
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