TORONTO, May 07, 2026 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (“Stack Capital” or the “Company”) (TSX:STCK) today announced its financial results for the period ended March 31, 2026. Stack Capital reports all amounts in Canadian Dollars unless otherwise stated.

FINANCIAL SUMMARY

• Book Value per Share (BVpS): $16.57, compared to $15.35 as at December 31, 2025 (+8% increase)
• Total Book Value: $227 million
  
  

The increase in Book Value during the quarter was primarily driven by valuation growth across core portfolio holdings in SpaceX and OpenAI.

PORTFOLIO COMPANY HIGHLIGHTS

SpaceX
Recently valued at approximately US$1 trillion in connection with the merger with xAI, further reinforcing its position as one of the world’s most valuable and strategically important private technology companies.

OpenAI
During the quarter, OpenAI completed a US$122 billion financing at a post-money valuation of approximately US$852 billion. The transaction further strengthens OpenAI’s position as a leading artificial intelligence platform and will help support its continued investment in compute infrastructure, product development, and revenue growth.

Crusoe Energy
Crusoe announced a new 900 MW AI factory campus in Abilene, Texas to support Microsoft AI infrastructure. The project further validates Crusoe’s position as a leading AI infrastructure platform at the intersection of energy, data centers, and high-performance compute.

X-Energy
Subsequent to quarter-end, X-Energy completed its initial public offering and began trading on Nasdaq, with the IPO occurring at a valuation substantially higher than Stack Capital’s original entry price. Since its IPO, X-Energy has experienced robust trading due to strong investor demand for its next-generation energy solutions, along with continued global demand for reliable, scalable power infrastructure.

Hopper
Hopper announced yet another impressive partnership, this time with RBC to enhance the Avion Rewards Travel platform through Hopper Technology Solutions (HTS). The partnership is a significant enterprise win for Hopper and validates the strength of its B2B travel & fintech solution, which now powers the travel platforms for several of the world’s leading financial institutions.

SUBSEQUENT EVENTS

FluidStack
Subsequent to quarter-end, Stack Capital invested US$11.0 million into FluidStack, a next-generation data center operator supporting the rapidly growing demand for AI compute infrastructure. FluidStack has worked with leading artificial intelligence companies, including Anthropic and Google, and is positioned at the center of the accelerating demand for high-performance AI infrastructure. The company’s work supporting TPU-based infrastructure has made it an important platform for scaling large language model workloads and helping meet the compute requirements of frontier AI companies.

Completion of Concurrent Private Placement
Following quarter-end, Stack Capital successfully completed a $40 million concurrent private placement. The capital raise provides the Company with the additional flexibility to pursue new investments in attractive, growth-oriented private companies.

MANAGEMENT COMMENTARY

“Q1 was an excellent quarter for Stack Capital, driven by valuation growth across several core portfolio holdings, including SpaceX and OpenAI,” said Jeff Parks, CEO of Stack Capital. “We continue to see strong momentum across private markets, particularly in AI, infrastructure, energy, and robotics. It’s worth noting that a number of our portfolio companies are currently exploring or pursuing financings at valuations above our carrying values,” added Mr. Parks. “The recent completion of the $40 million capital raise also leaves Stack Capital well-positioned to pursue new opportunities across high-growth private companies. Overall, we continue to believe that 2026 has the potential to be a meaningful year for both NAV growth and monetization across the portfolio.”

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

ⁱ  the Company is invested in Space Exploration Technologies Corp. (“SpaceX”) through a subsidiary, Space LP.
ⁱⁱ  the Company is invested in Crusoe Energy Inc. (“Crusoe”) through a subsidiary, Stack CES LP
ⁱⁱⁱ  the Company is invested in OpenAI through a subsidiary, Stack OAI LP
^iv  the Company invested in shares of GoEuro Corp. which carries on business as Omio
^v  the fair value of Prove Identity Inc. includes an unrealized deferred gain of $989,988
^vi  the Company is invested in Databricks through a subsidiary, Stack DB LP
^vii  the Company invested in X-Energy through asubsidiary, StackXE US LP
^viii  the Company is invested in Shield AI through a subsidiary, Defence AI LP

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 to source and advise with respect to all investments for the Company.

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

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.

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 Filing 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.