The9 Posts Record $23M Quarterly Profit on Digital Asset Gains, Guides for Sequential Growth
NCTY is trading near its 52-week low of $3.14 (2.2% above the low) on elevated volume (2.3× avg).
Summary
The9 reported a record quarterly net income of $23 million for Q1 2026, driven by the receipt of 1.425 billion 9BIT tokens at fair value. An additional 475 million tokens were received in April and will boost Q2 results. Total crypto holdings are now valued at approximately $110 million. The AI game creation platform the9bit has surpassed 8 million users and 110,000 games created. Management expects sequential profit growth through 2026, reinforced by a new incentive plan tying equity awards to higher quarterly net income. This follows a series of shelf registration amendments signaling capital needs, but the profit surge and asset base mark a sharp turnaround. The stock trades near its 52-week low of $3.14, so the earnings surprise could trigger a significant re-rating.
At the time of this announcement, NCTY was trading at $3.21 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $48.9M. The 52-week trading range was $3.14 to $11.60. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.