Our $445M Series D

Our $445M Series D 9 Oct 2026 In the spring, we hit a pretty wild milestone: Oxide paid income tax. And not because of some unusual transaction or one-time event, but because our ordinary operations (selling computers!) generated taxable income after accounting for the costs of components, manufacturing, salaries, and running the rest of the business. Of course, we each individually pay income tax every year; is it that surprising that a company is doing what we all do every spring?

Well, yes, it is: most startups don’t pay income tax because most startups aren’t profitable! Indeed, startups seek investment because they have costs long before they have revenue, let alone gross profit — let alone income. This is by design: profitability is a lagging indicator of product/market fit (the adventure in venture capital is investing long before the business has materialized!).