SUI Group Holdings Limited
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Range $2 – $2
Price Chart
About the company
Now operating as SUI Group Holdings Limited, succeeding Mill City Ventures III, Ltd. , the firm has undergone a significant strategic pivot, dedicating its efforts to a SUI treasury approach specifically built around the Sui blockchain. Its core objective is to establish itself as the foremost, foundation-supported SUI treasury enterprise, offering sophisticated investors high-caliber access to the SUI digital asset.
- CEO
- Douglas Michael Polinsky
- IPO
- 2009
- Employees
- 3
- HQ
- Wayzata, MN, US
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- Market Cap
- $71.87M
- P/E
- -0.20
- PEG
- -0.00
- P/S
- -1.39
- P/B
- 0.93
- EV/EBITDA
- -0.19
- Div Yield
- 0.00%
- Gross Margin
- 100.00%
- Op Margin
- 690.08%
- Net Margin
- 687.78%
- ROE
- -187.47%
- ROIC
- -365.63%
Latest fiscal year · YoY change
- Revenue
- $-1,008,313-128.3%
- Gross Profit
- $-1,008,313-128.3%
- Op Income
- $-267,097,121
- Net Income
- $-264,938,173-22788.4%
- EPS
- $-6.59-3761.1%
- OCF Growth
- -138.9%
- FCF Growth
- -138.9%
- 52W High
- $7.25
- 52W Low
- $0.79
- 50D MA
- $1.09
- 200D MA
- $1.51
- Beta
- 1.33
- RSI (14)
- 51
- Avg Volume
- 313.50K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
SUI Group reported a wider Q2 loss due to noncash digital-asset markdowns, while highlighting stronger SUI treasury yield, expanded Bluefin economics, and a continued pivot toward on-chain and AI-related capital allocation.· August 6, 2026
- Q2 revenue and other income rose to $1.2 million from $948,000, helped by SUI staking revenue and digital lending interest income.
- Net loss was $18.9 million, or $0.23 per diluted share, versus net income of about $677,000, or $0.11 per diluted share, in Q2 2025.
- Operating expenses included about $16.6 million of noncash losses on digital assets and receivables; excluding those, operating expenses were $3.4 million.
- The company said it held about 109 million SUI tokens as of Aug. 3, with most staked, producing an estimated 1.7% annual yield and about 5,300 SUI per day.
- Management said it has over 2 years of cash runway, no debt, and continues to pursue risk-adjusted lending and strategic investments tied to the SUI ecosystem and agentic AI.
Total revenue and other income for Q2 2026 was $1.2 million, up from $948,000 in Q2 2025. Net loss was $18.9 million, or $0.23 per diluted share, versus net income of about $677,000, or $0.11 per diluted share, a year ago. The quarter included about $16.6 million of noncash losses on digital assets and receivables, composed of $18.9 million in realized losses partly offset by an approximately $2.3 million unrealized gain. Excluding those noncash losses, operating expenses were $3.4 million. As of June 30, 2026, cash and cash equivalents were $3.1 million, versus $21.9 million at Dec. 31, 2025. The company did not provide specific next-quarter or full-year financial guidance on the call; instead, it emphasized balance sheet productivity, continued risk-adjusted lending, and improving SUI per share over time.
Marius Barnett framed the company as increasingly focused on turning the SUI treasury into a productive balance sheet rather than a passive token holding. He emphasized disciplined risk management, no debt, and maintaining cash so the company would not need to sell SUI or equity under pressure. He also pointed to long-term opportunities in ecosystem lending, stablecoins, tokenization, and agentic finance, while noting the company is investing in AI-adjacent themes where it sees strategic fit.
Joseph Geraci said the quarter benefited from higher revenue and other income driven by SUI staking and digital lending interest income, but GAAP results were weighed by approximately $16.6 million of noncash losses tied to digital assets and receivables. He broke out those losses as $18.9 million of realized losses, partly offset by a $2.3 million unrealized gain, and said the mark-to-market changes reflected SUI price moves rather than cash outflows. He also said cash and cash equivalents were $3.1 million at quarter-end and reiterated that the company’s legacy lending portfolio had shrunk to about $2.2 million of non-bank loans measured at fair value.
Analysts pressed management on how it plans to create returns while SUI prices are under pressure, and Barnett said the top priorities are risk control and higher-yield, risk-adjusted deployment of the balance sheet. On Bluefin, management said the larger 6 million SUI loan was tied to Bluefin’s acquisition of Suilend and that the economics improved from 5% to 11% of certain revenues because the business became more substantial. Questions also focused on operating efficiency, where Barnett said costs have been cut by about 50% over the last 12 months and cash provides over 2 years of runway, and on future organizational changes, where management said it expects to provide more clarity next quarter.
Management believes SUI is gaining institutional relevance across staking, stablecoins, tokenization, and Bitcoin-related infrastructure, and cited 297,000 transactions per second, 4.5 billion cumulative transactions, and 1,400 developers as signs of ecosystem momentum. The treasury also appears more productive, with most holdings staked, about 1.7% estimated annual yield, a larger Bluefin revenue share, and selective investments in AI-oriented opportunities that management says could support future returns. The company also highlighted over 2 years of runway and no debt, which gives it flexibility to keep deploying capital selectively.
The quarter still showed heavy GAAP losses due to digital-asset mark-to-market swings, and management acknowledged that pressure in SUI and broader DeFi has reduced some opportunities. Cash on hand was only $3.1 million at June 30, and the company said the legacy specialty finance business is no longer expected to drive meaningful new originations. Management also noted ongoing protocol, counterparty, liquidity, and operational risks in DeFi, plus the fact that several of the newer investments are long-term and not expected to contribute meaningfully near term.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 90.2%
- Shares Outstanding
- 74.96M
- Float Shares
- 67.59M
of shares held by institutions
51 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 3.18M | 0 |
| Two Sigma Advisers, LP | 1.06M | ▲ 1.06M |
| Wolverine Trading, LLC | 34.43K | ▲ 34.43K |
| Newgen Equity Long/Short Fund | 1.30K | ▲ 1.30K |
Held by 24 ETFs
Biggest fund positions in SUIG by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 6, 26 | LISZT HOWARD P | other | 33,211 |
| Jul 6, 26 | LISZT HOWARD P | other | 16,605 |
| Jul 6, 26 | LISZT HOWARD P | other | 16,605 |
| Jul 6, 26 | LISZT HOWARD P | other | 16,605 |
| Dec 31, 25 | POLINSKY DOUGLAS MICHAEL | other | 0 |
| Jul 31, 25 | Karatage Opportunities | other | 0 |
| Jul 31, 25 | Karatage Opportunities | other | 207,565 |
| Jul 31, 25 | Karatage Opportunities | other | 415,130 |
| Jul 31, 25 | Karatage Opportunities | other | 1,245,387 |
| Jul 31, 25 | Karatage Opportunities | other | 1,245,387 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our SUIG coverage
Recent articles, reports, and earnings notes.
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Generate SUIG report →SUI Group Holdings Limited (SUIG) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 7
Sui Group Q2 Earnings Call Highlights
marketbeat.com · Aug 7
SUI Group Reports Second Quarter 2026 Financial and Operating Results
businesswire.com · Aug 6
SUI Group Schedules Second Quarter 2026 Conference Call for August 6, 2026 at 5:00 p.m. ET
businesswire.com · Jul 23
SUI Group Announces Departure of Chief Investment Officer
gurufocus.com · Jul 14
SUI Group Announces Departure of Chief Investment Officer
businesswire.com · Jul 14
SUI Group Appoints Veteran Technology and Digital Finance Executive Kristina Campbell to Board of Directors
businesswire.com · Jul 9
SUI Group Expands Strategic Partnership with Bluefin, Lending Additional 4 Million SUI
businesswire.com · Jun 25
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