The Company will announce the timing of its business update call in due course.
The results reflect meaningful progress in strengthening the Company's operating profile, improving margin structure, and advancing balance-sheet stabilization initiatives.
Financial and Operational Highlights
Revenue of $15.1 million for the first half of 2025.
Gross Margin surged to 23%, up from 10% last year, following a structural shift that more than doubles HUB's margin profile. This improvement reflects a deliberate transition towards higher-margin products, tighter operational discipline, and redesigned delivery economics that position the Company for scalable growth.
Total assets increased to $73 million, reflecting the post-merger integration of Blackswan's intellectual property and platform technologies.
Shareholders' equity (deficit) improved from $(81 million) as of December 31, 2024, to $(59 million) as of June 30, 2025, reflecting new equity issuances and liability reductions.
Post-period liquidity enhancement, including $13.32 million in new cash proceeds.
Year-to-date, the Company has extended, settled, and/or extinguished $22.85 million of legacy obligations, restructuring more than 75% of its historical debt and materially reducing near-term repayment pressure, thereby enabling management to execute long-cycle, institutional-scale initiatives with improved financial visibility.
Strengthening Capital Structure and Liquidity
Year-to-date, HUB executed a series of coordinated capital-structure and balance-sheet actions designed to reduce near-term obligations, extend maturities, and improve financial visibility.
These actions included the restructuring and exchange of existing debt instruments, and the successful completion of multiple closings under the Company's August 2025 financing framework.
Partially repaid and/or restructured obligations with key counterparties, further improving liquidity and operational flexibility, whilst materially reducing legacy overhang and providing enhanced balance-sheet transparency.
Resolution of Legacy Matters
In November 2025, the Company reached settlement agreements resolving historical PIPE-related disputes originating from the Company's 2023 business combination. The settlements were approved by the Company's Audit Committee and Board of Directors, remain subject to shareholder approval, and provide for mutual releases with practically no cash impact, eliminating significant legacy uncertainty and potential litigation exposure.
Asset Base and Strategic Positioning
HUB's asset base now includes approximately $40 million of consolidated intellectual property and technology assets, forming the foundation of the Company's secured data fabric and trust-infrastructure platforms. The Company believes that these assets strengthen HUB's long-term positioning across highly regulated industries, including financial services, government, and critical infrastructure, where secure data virtualization and compliance-driven architecture are increasingly essential.
Management ...
