Eightco Holdings Inc (NASDAQ: ORBS) is a digital asset treasury and e-commerce company that holds cryptocurrency assets and operates an inventory-financing business under its Forever 8 subsidiary. The company generates economic exposure through fair-value changes in its digital asset holdings, measured under ASU 2023-08 beginning January 1, 2025, with gains and losses flowing through net income each reporting period. As of December 31, 2025, the company held digital assets with an aggregate fair value of approximately $176 million, consisting primarily of Worldcoin (WLD) and Ethereum (ETH), custodied with Coinbase, Kraken, and FalconX. The Forever 8 segment uses lines of credit to finance inventory for e-commerce sellers. The company does not pay dividends and describes its common stock as subordinate to all future indebtedness and any preferred stock, per the 10-K filed April 15, 2026.

Revenue model

Two revenue streams disclosed in the FY2025 10-K: (1) fair-value changes on digital asset holdings recognized in net income each period under ASU 2023-08, representing the primary economic driver given $176 million in digital assets as of December 31, 2025; (2) revenue from Forever 8 inventory-financing operations supporting e-commerce sellers, funded through lines of credit with associated interest expense.

Products and services

Digital asset treasury holding Worldcoin (WLD) and Ethereum (ETH) as primary assets, custodied in cold-storage arrangements with Coinbase, Kraken, and FalconX as of December 31, 2025. Forever 8 inventory-financing service for e-commerce operators. SG&A structure includes custodial fees, compliance costs, and professional services for digital asset oversight alongside Forever 8 operational costs.

Customers and end markets

E-commerce sellers served through the Forever 8 inventory-financing segment. Digital asset treasury function does not have traditional end customers. No customer concentration data disclosed in the excerpts.

Value-chain role

Digital asset holder and treasury operator, dependent on third-party institutional custodians (Coinbase, Kraken, FalconX) for safekeeping and regulatory compliance. Inventory-financing intermediary for e-commerce sellers through Forever 8.

Geographic exposure

U.S.-based operations with digital assets held at U.S.-based institutional custodians as of December 31, 2025. No additional geographic breakdown disclosed in the excerpts.

Source: SEC 10-K, filed 2026-04-15

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