Farmhouse, Inc.

What they do

Farmhouse, Inc. historically engaged in technology development and brand management and now describes itself as a public company platform evaluating strategic acquisitions and emerging opportunities, including digital assets. It operates through wholly owned subsidiaries Farmhouse Washington, Farmhouse DTLA, Inc., and Farmhouse Treasury LLC, formed in September 2025 for its Anti-Debasement Digital Asset Treasury initiative. The company has no physical office facilities and all personnel work remotely. Revenue comes from intellectual property licensing arrangements associated with branded content.

Revenue drivers

• Intellectual property licensing — Licensing arrangements tied to branded content; generated $623 in 2025 and $4,154 in 2024, with revenue recognized upon the licensee's underlying sales under the ASC 606 sales-based royalty exception.
• Digital asset treasury (Farmhouse Treasury LLC) — Formed September 2025 with no capital contributed and no digital assets acquired at formation; held 7.21 Bitcoin (fair value $422,165) and 2.02 PAXG (fair value $8,086) as of June 30, 2026.
• Investment brokerage account — Farmhouse Treasury LLC acquired securities through an investment brokerage account with aggregate fair value of $35,182 as of June 30, 2026.

Recent performance

Revenue fell to $623 in 2025 from $4,154 in 2024, which management attributed to the loss of a major customer during 2024 and a strategic shift toward the digital asset treasury initiative. Total operating expenses were essentially flat at $410,940 in 2025 versus $410,668 in 2024, and net loss narrowed to $393,266 from $464,343. For the six months ended June 30, 2026, operating expenses rose to $274,653 from $208,352, driven by higher travel to digital asset conferences and cryptocurrency platform fees. Other expense for that period was $2,804,078, including a $1,765,482 loss on derivative, $531,222 of interest expense, $445,619 of debt financing cost, and a $61,977 unrealized crypto loss. Quarterly revenue was $623 in the quarter ended December 31, 2025 and $0 in the quarters ended September 30, 2025, March 31, 2026, and June 30, 2026.

Strategy

Management's stated focus is identifying and completing acquisitions that enhance long-term shareholder value and repositioning the company toward scalable opportunities, including through the Farmhouse Treasury division. Farmhouse Treasury LLC was established in September 2025 to develop and oversee digital asset strategy covering treasury management, custody solutions, and capital allocation in assets aligned with an anti-debasement framework, including Bitcoin and tokenized and physical gold. The company established an enterprise custody account with BitGo and commenced implementing its digital asset treasury strategy during the six months ended June 30, 2026, receiving digital assets consisting primarily of Bitcoin in connection with the Axiom Holdings Group, LLC financing. Management states that counterparty discussions, including with cryptocurrency financing and investment platforms, remain exploratory with no binding agreements or definitive plans. The company also maintains licensing activities it believes could be expanded.

Risks

• Negative shareholder equity and accumulated losses — At June 30, 2026 the company reported total assets of $1.7M, total liabilities of $7.5M, and shareholder equity of negative $5.7M, after recurring annual net losses including $393,266 in 2025.
• Digital asset price and custody exposure — The company held 7.21 Bitcoin and 2.02 PAXG as of June 30, 2026 and recognized a $61,977 unrealized crypto loss in the first half of 2026, with digital assets held through a BitGo custody account.
• Digital asset strategy is uncommitted and exploratory — Farmhouse Treasury was formed with no capital contributed and no digital assets acquired, and management states counterparty discussions have produced no binding agreements or definitive plans.
• Minimal revenue and customer concentration — Licensing revenue is the only reported revenue line and fell to $623 in 2025, with management attributing the decline to the loss of a major customer during 2024.

Outlook

Management says the company continues to evaluate additional strategic opportunities and capital allocation initiatives, including the digital asset treasury strategy and possible expansion of licensing activities, while acknowledging no assurance of material revenue or anticipated benefits. Publicly, the company stated it continues to evaluate opportunities to develop operating business lines. No guidance figures were provided in the excerpted material.