ZeroStack ZSTK
Nasdaq · Finance Services · $47M$2.57−5.17%Nov 5 close · Databento
ZSTK Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $2.571D −5.17%3M +71.33%SMA20 $3.46SMA50 $4.18RSI(14) 24.5
2.57
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 24.5
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$47M
Enterprise value$98.0M
Revenue$35.7M −0.5%
True FCF (ex-SBC)$-10.0M −70.4%
Rule of 40-25.2%
ROIC-127.8%
True FCF Yield-21.1%
EPS, diluted$-43.49 +13.1%
Modern Valuation (EOD)
Market Cap$47M
Enterprise Value$98.0M
EV / True FCF—
EV / FCF—
EV / Gross Profit59.42
EV / EBIT—
EV / Sales2.75
P / E (GAAP)—
P / FCF—
P / Oper. CF—
P / Book0.67
Owner & Cash Yields
True FCF Yield-21.1%
FCF Yield-18.6%
Owner Earn. Yield-254.2%
Earnings Yield-252.6%
Shareholder Yield−2.5%
Buyback Yield0.0%
Dividend Yield—
Dividend / sh—
Payout Ratio—
FCF / sh$-0.50
EPS (diluted)$-43.49
Compounder & Returns
Rule of 40-25.2%
ROIC-127.8%
Cash ROIC (CROIC)-7.3%
GP / Assets1.3%
ROE-169.7%
ROA-91.9%
Gross Margin4.6%
Oper. Margin-433.5%
Net Margin-335.6%
FCF Margin-24.7%
True FCF Margin-28.1%
Quality & Dilution
Cash Conversion—
Accrual Ratio−85.3%
SBC % of FCF—
SBC % of Rev3.4%
Reinvest. Rate—
Sales Growth Y/Y−0.5%
Sales 3Y CAGR+2.2%
EPS Growth Y/Y+13.1%
FCF Growth Y/Y−70.4%
FCF 3Y CAGR—
Share Change Y/Y+765.7%
Balance Sheet & Scale
Revenue (FY)$35.7M
Gross Profit (FY)$1.6M
Oper. Income (FY)$-154.7M
GAAP Net Income$-119.7M
True FCF (ex-SBC)$-10.0M
Cash & Equiv$5.6M
Total Debt$56.2M
Net Cash (Debt)$-50.6M
Net Cash % MCap−106.7%
Debt / FCF (yrs)—
Current Ratio1.0117.49M sh
Price & Technicals (EOD)
Perf Week−12.29%
Perf Month−46.12%
Perf Quarter+55.76%
Perf Half Y−53.78%
Perf YTD−65.34%
SMA 20 Dist−25.68%$3.46
SMA 50 Dist−38.56%$4.18
SMA 100 Dist−25.79%$3.46
Window High−65.69%$7.49
Window Low+90.37%$1.35
RSI (14) · Vol24.550%v
Income Distribution & Cash Flow ConversionHow every dollar of ZSTK revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$34.0M ($95.4 / $100)
R&D Reinvestment$418,000 ($1.2 / $100)
Operating Expenses$155.9M ($100.0 / $100)
Tax & Non-Operating$0 ($0.0 / $100)
Net Profit Kept$-119.7M ($0.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$-119.7M (-335.6% margin)
Operating Cash Flow (OCF)$-8.7M(-24.3% of rev)
Less: Capital Expenditures−$127,000(0.4% of rev)
Standard Free Cash Flow (FCF)$-8.8M(-24.7% margin)
Less: Stock-Based Comp (SBC)−$1.2M
True FCF (Owner Cash ex-SBC)$-10.0M(-28.1% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $9.0M | $33.4M | $76.1M | $35.9M | $35.7M | −0.5% | +41.2% | |
| Cost of Revenue (COGS) | $6.6M | $20.1M | $58.3M | $33.7M | $34.0M | +1.1% | +50.9% | |
| Gross Profit | $2.4M | $13.3M | $17.7M | $2.2M | $1.6M | −24.9% | −9.2% | |
| Research & Development (R&D) | $132,000 | $388,000 | $62,000 | $418,000 | $418,000 | +0.0% | +33.4% | |
| Total Operating Expenses | $21.4M | $60.5M | $68.1M | $11.1M | $156.3M | +1305.5% | +64.3% | |
| Operating Income (EBIT) | $-19.0M | $-47.2M | $-50.4M | $-8.9M | $-154.7M | −1632.8% | — | |
| Income Tax Expense | $-98,000 | $-1.4M | $-1.6M | $22,000 | $59,000 | +168.2% | — | |
| GAAP Net Income | $-21.4M | $-52.4M | $-57.0M | $-15.9M | $-119.7M | −652.7% | — | |
| Diluted EPS | — | $-13.68 | $-7.75 | $-50.02 | $-43.49 | +13.1% | — | |
| Diluted Shares | — | 3,832 | 7,356 | 318 | 2,753 | +765.7% | −10.4% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $37.6M | $8.9M | $4.4M | $5.2M | $5.6M | +7.1% | −37.8% | |
| Inventory | $3.0M | $8.7M | $8.5M | $2.2M | $1.9M | −15.3% | −11.0% | |
| Total Current Assets | $47.9M | $31.2M | $21.4M | $19.8M | $8.7M | −55.9% | −34.7% | |
| Total Assets | $85.5M | $81.0M | $23.6M | $26.2M | $130.2M | +396.6% | +11.1% | |
| Total Current Liabilities | $6.1M | $17.4M | $16.3M | $18.8M | $8.6M | −54.2% | +9.0% | |
| Total Debt (Short + Long Term) | $2.4M | $3.5M | $4.3M | $4.2M | $56.2M | +1251.2% | +119.3% | |
| Total Liabilities | $8.5M | $24.6M | $17.2M | $21.7M | $59.7M | +174.8% | +62.6% | |
| Stockholders' Equity | $76.9M | $56.4M | $6.4M | $4.5M | $70.6M | +1464.3% | −2.1% | |
| Net Cash / (Net Debt) | $35.2M | $5.4M | $41,000 | $1.1M | $-50.6M | −4749.8% | — | |
| Invested Capital | $41.8M | $51.0M | $6.4M | $3.4M | $121.1M | +3440.1% | +30.5% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $-20.9M | $-15.9M | $-8.4M | $-5.0M | $-8.7M | −72.4% | — | |
| Depreciation & Amortization (D&A) | $501,000 | $2.6M | $2.5M | $768,000 | $582,000 | −24.2% | +3.8% | |
| Stock-Based Compensation (SBC) | $1.3M | $3.4M | $1.6M | $2.8M | $1.2M | −56.5% | −2.6% | |
| Capital Expenditures (CapEx) | $4.0M | $1.3M | $163,000 | $134,000 | $127,000 | −5.2% | −57.7% | |
| Free Cash Flow (FCF) | $-24.9M | $-17.2M | $-8.6M | $-5.2M | $-8.8M | −70.4% | — | |
| True FCF (ex-SBC Owner Cash) | $-26.3M | $-20.6M | $-10.2M | $-7.9M | $-10.0M | −26.0% | — | |
| Share Repurchases (Buybacks) | $0 | $255,000 | $0 | — | $0 | — | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
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