Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsLatest reported annual revenue changed -32.9% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -32.9% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was negative
Latest reported free cash flow was -$8M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2023-12-31.
- Shareholders' equity was non-positive
Debt/equity is shown as not meaningful rather than as a negative leverage ratio.
Why this surfaced
Same-period reported shareholders' equity was zero or negative; review the balance sheet and capital structure. Period end 2025-12-31.
- 2 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Operating margin improved
Operating margin changed +4.0 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-10-21
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Digital Colocation Revenues$26.1M65.6%-32.4% yoy
- Energy Management Revenue$11.8M29.7%+55.7% yoy
- Digital Assets Mining Revenue$1.88M4.7%-85.1% yoy
Members sum to the consolidated $39.8M for this period.
- Digital Colocation Revenues$3.51M57.0%-4.2% yoy
- Energy Management Revenue$2.61M42.5%-49.1% yoy
- Digital Assets Mining Revenue$33.5K0.5%-95.5% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,060 US-listed filers · 883 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $40M | 19thof 3,247 bottom third | 25thof 528 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -32.9% | 4thof 3,083 bottom third | 4thof 505 bottom third |
Gross margin gross profit ÷ revenue | 43.6% | 58thof 1,585 middle third | 47thof 59 middle third |
Operating margin operating income ÷ revenue | -48.5% | 21stof 2,777 bottom third | 23rdof 230 bottom third |
Net margin net income ÷ revenue | -59.5% | 18thof 3,212 bottom third | 14thof 522 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 22.6% | 15thof 2,852 bottom third | 19thof 413 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -28.2% | 92ndof 3,845 top third | 97thof 837 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -27.4% | 83rdof 3,301 top third | 88thof 770 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 19 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Net income NetIncomeLoss | quarter 2020-06-30 | $130K 10-Q 2020-08-14 | -$2.05M 10-Q 2021-08-10 | -1679.9% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-12-31 | $247K 10-K 2021-03-01 | $1.11M 10-K 2022-03-21 | +350.5% | first · latest · 5 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-06-30 | -$3.47M 10-Q 2020-08-14 | $6.49M 10-Q 2021-11-15 | +287.1% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-12-31 | -$4.15M 10-K 2021-03-01 | $7.59M 10-K 2022-03-21 | +283.0% | first · latest · 5 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-03-31 | -$3.68M 10-Q 2020-05-15 | $6.04M 10-Q 2021-05-19 | +264.1% | first · latest · 3 filings carry it |
| Total assets Assets | balance at 2020-12-31 | $3.19M 10-K 2021-03-01 | $9.8M 10-K 2022-03-21 | +207.2% | first · latest · 5 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2021-12-31 | $42.7M 10-K 2022-03-21 | -$42.7M 10-K 2023-03-23 | -200.0% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2020-09-30 | -$6.47M 10-Q 2020-11-16 | $5.03M 10-Q 2021-11-15 | +177.8% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | fiscal year 2020-12-31 | -$1.52M 10-K 2021-03-01 | -$185K 10-K 2022-03-21 | +87.8% | first · latest |
| Net income NetIncomeLoss | quarter 2020-03-31 | -$4.3M 10-Q 2020-05-15 | -$529K 10-Q 2021-05-19 | +87.7% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2020-03-31 | -$302K 10-Q 2020-05-15 | -$527K 10-Q 2021-05-19 | -74.6% | first · latest |
| Net income NetIncomeLoss | quarter 2021-09-30 | -$3.1M 10-Q 2021-11-15 | -$2.5M 10-Q 2022-11-14 | +19.2% | first · latest |
| Net income NetIncomeLoss | quarter 2020-09-30 | -$3.06M 10-Q 2020-11-16 | -$3.55M 10-Q 2021-11-15 | -15.9% | first · latest |
| Net income NetIncomeLoss | quarter 2022-06-30 | -$2.41M 10-Q 2022-08-22 | -$2.12M 10-Q 2023-08-21 | +12.0% | first · latest |
| Net income NetIncomeLoss | fiscal year 2020-12-31 | -$4.93M 10-K 2021-03-01 | -$5.06M 10-K 2022-03-21 | -2.7% | first · latest |
| Net income NetIncomeLoss | quarter 2022-03-31 | -$11.6M 10-Q 2022-05-16 | -$11.3M 10-Q 2023-05-15 | +2.0% | first · latest |
| Net income NetIncomeLoss | quarter 2021-06-30 | -$6.35M 10-Q 2021-08-10 | -$6.24M 10-Q 2022-08-22 | +1.7% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2023-03-31 | $67.9M 10-Q 2023-05-15 | $66.7M 10-Q 2024-05-15 | -1.7% | first · latest |
| Net income NetIncomeLoss | fiscal year 2021-12-31 | -$45.5M 10-K 2022-03-21 | -$45M 10-K 2023-03-23 | +1.1% | first · latest |
6 share-count periods re-presented for a stock split (1-for-20, 1-for-6) are listed apart from restatements and not counted above.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for BGDE yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.