Sky Releases Q3 2026 Report: Net Income $37.19 Million, Positive for Six Consecutive Quarters

October 29 — The Sky Frontier Foundation released the Sky ecosystem's Q3 2026 report. Total protocol revenue was $99.29 million, up 14.2% year-over-year and down 7.4% quarter-over-quarter. Total expenses fell to $62.1 million, while net income rose to $37.19 million, up 11.8% quarter-over-quarter. The net margin increased from 31.0% to 37.5%, marking the sixth consecutive quarter of positive net income. Protocol collateral at period-end was $11.41 billion, up 25.3% year-over-year.

During the same period, $28.47 million was allocated to the Sky reserve, bringing the reserve to $85.08 million at period-end. sUSDS supply was $4.52 billion, up 118% year-over-year, but below Q2's $5.52 billion. On the institutional side, Galaxy added $100 million in sUSDS to its balance sheet and approved it as collateral for institutional loans. In Q3, $5.6 million was used in open-market buybacks to purchase 87.5 million SKY tokens, and the first SKY burn was completed.