Stack Capital Group Inc. Reports Q3-2026 Financial Results

(MENAFN- GlobeNewsWire - Nasdaq) TORONTO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (“Stack Capital” or the“Company”) (TSX:STCK) today announced its financial results for the period ended September 30, 2026. Stack Capital reports all amounts in Canadian Dollars unless otherwise stated.

FINANCIAL SUMMARY

• Book Value per Share (BVpS): $19.90, compared to $20.25 as at June 30, 2026
• Total Book Value: $311 million

PORTFOLIO COMPANY HIGHLIGHTS

Crusoe
During the quarter, Crusoe announced the initial closing of a US$3.9 billion Series F financing, valuing the company at approximately US$30.9 billion. As a result of the financing, Stack Capital increased the carrying value of its position by $12.1 million to $29.1 million. Crusoe's vertically integrated business model enables it to operate across the entire AI infrastructure value chain, from energy generation and data center development to cloud computing services, providing a significant competitive advantage as demand for AI infrastructure continues to accelerate.

Databricks
In August 2026, Databricks completed a US$5 billion strategic financing at a US$185 billion pre-money valuation. The leading data and AI company also reported surpassing a US$7 billion annualized revenue run-rate, representing more than 80% year-over-year revenue growth during its second quarter. As a result of the financing, Stack Capital increased the carrying value of its position by $2.8 million.

Omio
In July 2026, Omio Group entered into an agreement to acquire Rail Europe and secured a US$10 million strategic investment from Granite-Integral to accelerate expansion in Japan and Southeast Asia.

PsiQuantum
During the quarter, PsiQuantum signed a US$125 million agreement with DARPA and finalized a US$100 million award from the U.S. Department of Commerce to advance utility-scale quantum computing and strengthen their supply chain.

Shield AI
Subsequent to quarter-end, Shield AI announced that combined company and U.S. government investment commitments to its X-BAT autonomous fighter aircraft program had reached US$400 million.

SpaceX (NASDAQ:SPCX)
During the quarter, SpaceX completed Starship's first orbital mission, deploying 26 next generation Starlink satellites, which were 10 times the downlink capacity of a Falcon 9 Starlink launch. Following quarter-end, SpaceX advanced its Starlink Mobile strategy through an agreement to acquire additional spectrum licenses, subject to regulatory approval and other closing conditions. The value of Stack Capital's position decreased from June 30, 2026 to $105.4 million as of September 30, 2026, and remained its largest investment.

X-Energy (NASDAQ:XE)
In September, X-Energy announced that its Xe-100 reactor design had been accepted into the United Kingdom's Generic Design Assessment process, marking an important regulatory milestone in support of its partnership with Centrica to potentially deploy up to 6 GW of nuclear power capacity across the UK. X-Energy's share price decreased during the quarter, closing at US$14.18 on September 30, 2026. Stack Capital's position was valued at $6.9 million at quarter-end.

Normal Course Issuer Bid

Up to November 4, 2026, Stack Capital repurchased 89,700 common shares under its normal course issuer bid at an average price of $17.15 per share.

MANAGEMENT COMMENTARY

“While Book Value per Share was modestly lower in the quarter, largely reflecting a lower SpaceX share price, we were pleased to see Crusoe and Databricks complete financings at significantly higher valuations,” said Jeff Parks, CEO of Stack Capital.“Our portfolio companies continue to execute, and we remain focused on long-term value creation and portfolio monetization. We also believe the current discount between our share price and reported Book Value per Share presents an attractive opportunity to create value for shareholders. We intend to continue taking advantage of this dislocation by repurchasing shares at opportunistic prices through our normal course issuer bid.”

A detailed summary of Book Value per Share is as follows:

Breakdown of Book Value per Share as at September 30, 2026:
SpaceX, Corp. (space exploration & communications)	$	6.73
Fluidstack Ltd. (GPU infrastructure)		2.03
Crusoe Energy Systems, Inc. (AI factories)		1.86
Prometheus (AI research)		1.63
Canva, Inc. (graphic design)		1.21
Locus Robotics, Inc. (robotics)		0.98
Cash		0.97
OpenAI (AI)		0.96
Hopper, Inc. (travel & leisure)		0.85
Prove Identity, Inc. (cyber-security)		0.80
CoreWeave, Inc. (AI hyper-scaler)		0.79
Databricks, Inc. (data analytics)		0.78
Omio, Inc. (travel & leisure)		0.75
X-Energy, LLC (nuclear energy)		0.44
Shield AI, Inc. (defense)		0.40
Varo Money, Inc. (neo-banking)		0.09
PsiQuantum, Corp. (Quantum Computing)		0.08
Net other assets		(1.45	)
Book Value per Share	$	19.90

About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to a diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. acts as the Company's administrator and is responsible for sourcing and advising with respect to all investments for the Company.

For more information, please visit our website at or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
...

Non-IFRS Financial Measures
This press release may make reference to the following financial measures which are not recognized under International Financial Reporting Standards (“IFRS”), and which do not have a standard meaning prescribed by IFRS:

• Book Value - the aggregate fair value of the assets of the Company on the referenced date, less the aggregate carrying value of the liabilities, excluding any deferred taxes or unrealized deferred gains or losses if applicable, of the Company; and
  
• Book Value per Share (BVpS) - the Book Value on the referenced day divided by the aggregate number of Common Shares that are outstanding on such day.
  

The Company's Book Value and Book Value per Share is a measure of the performance of the Company as a whole. The Company's method of determining this financial measure may differ from other issuers' methods and, accordingly, this amount may not be comparable to measures used by other issuers. This financial measure is not a performance measure as defined under IFRS and should not be considered either in isolation of, or as a substitute for, net earnings per share prepared in accordance with IFRS.

The Company's unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three and nine months ended September 30, 2026, have been filed on SEDAR+ and are available under the Company's profile at

Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as“proposed”,“expects”,“intends”,“may”,“will”, and similar expressions. Forward-looking information contained or referred to in this press release includes but may not be limited to the business of Stack Capital and the risks associated therewith, including those identified in the Annual Information Form under the heading“Risk Factors”.

Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although Stack Capital believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Stack Capital can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the ability to capitalize on investment opportunities. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of Stack Capital based on information currently available to Stack Capital.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Stack Capital disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events, or results or otherwise. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

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