Record July margins, improving financial metrics and proposed TYTL combination position Beeline for continued growth and operating leverage despite macro headwinds
Management to host a conference call on August 13 at 5:00 p.m. ET to review results and discuss outlook
PROVIDENCE, R.I. – August 13, 2026 – Beeline Holdings, Inc. (Nasdaq: BLNE) (“Beeline” or the “Company”), a technology-driven mortgage lender and fractional equity platform, today announced financial results for the second quarter ended June 30, 2026.
Q2 2026 Financial Highlights
- Net revenue of $2.6 million, up 57% year-over-year.
- Net loss narrowed to $4.0 million from $5.3 million in Q1 2026.
- Non-cash expenses totaled $2.3 million, resulting in an approximately $1.7 million cash deficit for the quarter.
- Adjusted EBITDA loss narrowed to $2.6 million from $3.0 million in Q1 2026.
- June expenses were $369,000 less than May.
- Operating margins increased by 9.4% from the previous quarter.
- The Company ended Q2 2026 with $1.5 million in cash, $50.5 million in shareholders’ equity and no corporate debt.
- With fundamentals improving, the Company intends to continue managing liquidity and capital deployment with a focus on minimizing shareholder dilution.
Adjusted EBITDA is a non-GAAP financial measure. See the reconciliations below.
Management Commentary
“Q2 2026 represented another quarter of meaningful progress for Beeline, with revenue increasing 57% year-over-year,” said Nick Liuzza, Chief Executive Officer of Beeline. “The changes we made to our product mix are beginning to show in our margins and operating results, and we expect that impact to become more pronounced in Q3, although the unpredictable macro environment could affect results. We believe we are demonstrating operating leverage as we scale the core business, while the proposed TYTL combination could add a differentiated, higher-revenue residential equity product whose economics are not directly tied to interest rates.”
July Operating Momentum and Subsequent Events
Beeline continued to build momentum following quarter-end:
- July revenue is expected to be the highest of the year.
- July operating margin is expected to be the highest since inception.
- Chief Executive Officer Nick Liuzza invested $500,000 in Beeline through a convertible note that automatically converts into common stock at the higher of $1.50 per share or the applicable five-day closing VWAP, beginning August 12, reflecting above-market pricing and may make future investments.
- Beeline announced a non-binding Letter of Intent to acquire TYTL Holdings, Inc. in an all-stock business combination, which envisions combining Beeline’s mortgage, lending and title capabilities with TYTL’s blockchain-enabled residential equity and digital securities platform.
BeelineEquity and Proposed TTL Combination
During the quarter, Beeline continued to advance BeelineEquity, its fractional home equity offering in partnership with TYTL. The platform’s operating infrastructure has been built and integrated to support future scaling.
The proposed TYTL acquisition would combine two developed platforms into a differentiated robust and potentially valuable business model leveraging prime residential real-world assets (RWA), positioning the combined company to participate in the rapidly growing digital securities market while expanding beyond traditional mortgage lending.
Product Differentiation. TYTL’s residential equity product provides qualified homeowners access to home equity without monthly payments or a maturity date, with economics that are not directly tied to interest rates.
Higher Revenue Per Transaction. TYTL’s model is expected to generate approximately 3x more revenue per transaction, potentially shortening the path to cash-flow-positive operations while creating an opportunity to build a significant revenue business around residential real-world assets rather than traditional mortgage lending alone.
Digital Asset Treasury. The combined company expects to retain Regulation D digital securities equal to approximately 5% of each TYTL transaction value, potentially creating a growing balance-sheet portfolio backed by ownership interests in residential real estate that could support non-dilutive strategies, including acquisitions or share repurchases.
The companies are in the process of engaging an investment banker to assist with the sale of TYTL digital securities to institutional investors to fund future transactions and potentially access capital at more attractive economics than currently available in the marketplace.
The proposed transaction remains subject to due diligence, negotiation and execution of definitive agreements, a fairness opinion, valuation analyses, shareholder approval and other customary closing conditions. There can be no assurance that the transaction will be completed on the terms currently contemplated or at all.
Outlook
Beeline enters the second half of 2026 with a growing revenue base, improving margins, reduced cash expenses and a product mix increasingly weighted toward higher-margin offerings.
Management remains focused on growing revenue while maintaining expense discipline, narrowing Adjusted EBITDA losses and progressing toward operating break-even.
Conference Call
Management will host a conference call on August 13, 2026, at 5:00 p.m. ET to discuss second-quarter results, recent operating trends, the Company’s outlook and the proposed TYTL transaction. The call will be led by Nick Liuzza, Chief Executive Officer, Jess Kennedy, Chief Operating Officer, and Chris Moe, Chief Financial Officer.
Participants may join via webcast or by phone using the details below:
- Listen-only webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=vxAcpqFk
- Toll-Free Dial-In (U.S.): 877-317-6789
- International Dial-In: 412-317-6789
Use of Non-GAAP Measures
This press release includes both financial measures in accordance with Generally Accepted Accounting Principles, or GAAP, as well as non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures should be viewed as supplemental and should not be considered as alternatives to net income (loss), operating income (loss), and cash flow from operating activities, liquidity or any other financial measures. They may not be indicative of the historical operating results of Beeline nor are they intended to be predictive of potential future results. Investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP.
Our management uses and relies on Adjusted EBITDA, a non-GAAP financial measure, to evaluate and assess our core operating results from period-to-period after removing the impact of items that affect comparability. Our management recognizes that the non-GAAP financial measure has inherent limitations because of the excluded items described below. We also review our operating metrics without including stock-based compensation, which is another non-GAAP financial measure.
We have included a reconciliation of our non-GAAP financial measure to the most comparable GAAP financial measure. We believe that providing the non-GAAP financial measure, together with the reconciliation to GAAP, helps investors make comparisons between Beeline and other companies. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measure and the corresponding GAAP measure provided by each.
The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation, and other one-time items.
The following table presents a reconciliation of net loss to Adjusted EBITDA for the three and six months ended June 30, 2026 and 2025 (unaudited):
