Our $445M Series D

In the spring, Oxide successfully paid its first income tax, a significant milestone given that most startups aren't profitable enough to do so. This tax payment was due to the company's ordinary operations, such as selling computers, generating taxable income. As expected, this was a major achievement as startups typically seek investment because they have costs before generating revenue.

However, the company's strong financial position has been bolstered by an impressive order backlog far exceeding supply, necessitating substantial cash for inventory and order fulfillment.

The company feels confident in its ability to manage its current backlog, but the large financial commitment required to accommodate additional demand means that caution must be exercised. This is a common concern in a rapidly growing hardware business, and Oxide, like many others, approaches such situations with caution, a trait deeply ingrained in the company since the Dot Com bust.

The company's investors, including Eclipse and others such as USIT, Riot Ventures, and Jane Street, have been instrumental in the company's journey, showing belief in Oxide even when profitability seemed a distant dream. The addition of new investors like Atreides Management and AMD, a strategic partner for a long time, further strengthens Oxide's position.

These investors, all in it for the long haul, are eager to see Oxide grow and fulfill its potential. While the milestone of paying income tax is an exciting one, it is merely a stepping stone in Oxide's journey towards its eventual grand goals. The company expresses its gratitude to its investors, partners, fans, employees, and most importantly, its customers.