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 metricsOperating margin changed -176.7 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -176.7 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.
- Free cash flow was negative
Latest reported free cash flow was -$18M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
- 3 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +442.2% 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.
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
- 2026-09-12
- 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 Asset Treasury$9.19M80.7%no prior
- Real Estate Platform$2.2M19.3%+4.7% yoy
Members sum to the consolidated $11.4M for this period.
- Digital Asset Treasury-$33.2M91.2%no prior
- Real Estate Platform-$3.22M8.8%+7.1% yoy
Members sum to the consolidated -$36.4M for this period.
- Digital Asset Treasury$9.19M80.7%no prior
- Real Estate Platform$2.2M19.3%+4.7% yoy
Members sum to the consolidated $11.4M for this period.
- Digital Asset Treasury$2.4M90.2%no prior
- Real Estate Platform$262K9.8%-8.7% 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 4,090 US-listed filers · 893 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $11M | 12thof 3,264 bottom third | 14thof 529 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 442.2% | 98thof 3,103 top third | 98thof 507 top third |
Operating margin operating income ÷ revenue | -319.7% | 10thof 2,791 bottom third | 10thof 229 bottom third |
Net margin net income ÷ revenue | -648.1% | 7thof 3,227 bottom third | 6thof 523 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -157.8% | 10thof 2,657 bottom third | 6thof 303 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -74.3% | 14thof 3,537 bottom third | 4thof 757 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 14.7% | 20thof 2,867 bottom third | 25thof 414 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 2 days | 98thof 2,382 top third | 95thof 103 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -35.8% | 94thof 3,874 top third | 97thof 846 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 198.2% | 6thof 3,321 bottom third | 6thof 777 bottom 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 · 13 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Stock-based compensation ShareBasedCompensation | fiscal year 2024-12-31 | $295K 10-K 2025-03-27 | $413K 10-K 2026-03-30 | +39.8% | first · latest |
| Depreciation and amortization DepreciationAndAmortization | fiscal year 2024-12-31 | $224K 10-K 2025-03-27 | $307K 10-K 2026-03-30 | +37.1% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | fiscal year 2024-12-31 | $19.8K 10-K 2025-03-27 | $23K 10-K 2026-03-30 | +16.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-06-30 | 11,064,576 shares 10-Q 2024-08-13 | 9,682,000 shares 10-Q 2025-08-14 | -12.5% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-09-30 | 11,205,011 shares 10-Q 2024-11-07 | 9,804,000 shares 10-Q 2025-11-19 | -12.5% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-06-30 | 11,064,576 shares 10-Q 2024-08-13 | 9,682,000 shares 10-Q 2025-08-14 | -12.5% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-09-30 | 11,205,011 shares 10-Q 2024-11-07 | 9,804,000 shares 10-Q 2025-11-19 | -12.5% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2025-09-30 | 23,201,000 shares 10-Q 2025-11-19 | 20,759,000 shares 10-K 2026-03-30 | -10.5% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2025-09-30 | 31,439,000 shares 10-Q 2025-11-19 | 29,510,000 shares 10-K 2026-03-30 | -6.1% | first · latest |
| Share repurchases PaymentsForRepurchaseOfCommonStock | fiscal year 2024-12-31 | $5.24K 10-K 2025-03-27 | $5K 10-K 2026-03-30 | -4.6% | first · latest |
| Depreciation and amortization DepreciationAndAmortization | quarter 2024-09-30 | $50.6K 10-Q 2024-11-07 | $51K 10-Q 2025-11-19 | +0.8% | first · latest |
| Depreciation and amortization DepreciationAndAmortization | quarter 2024-06-30 | $49.7K 10-Q 2024-08-13 | $50K 10-Q 2025-08-14 | +0.6% | first · latest |
| Stock-based compensation ShareBasedCompensation | quarter 2025-03-31 | $53.7K 10-Q 2025-05-14 | $54K 10-Q 2026-05-19 | +0.5% | first · latest |
8 share-count periods re-presented for a stock split (7-for-1, 1-for-8) 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 CHAD 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.