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Sphere 3D Corp.

DRK Financial Capital Markets

Sphere 3D Corp.’s revenue for fiscal 2025 (year ended December 2025) was $11.2 million, down 32.7% from fiscal 2024. In the quarter to June 2026, revenue fell 18.8%, EPS fell 546.7% and free cash flow grew 12.3%, each against the same quarter a year earlier.

2.05 0.11 −5.09%
Market cap
$22.9M
P/E
0.0×
Fwd P/E
0.0×
Dividend yield
—
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.07
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 1 — — 2 — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 22.85
Revenue 9.71
Net Income (32.30)
Free Cash Flow (15.21)
Net Debt (4.04)
Current Ratio 1.03
Debt/Equity 0.00
P/E ratio 0.00
Fwd P/E 0.00
P/S ratio 1.09
P/B ratio 0.75
Past 5Y EPS Growth —
This Y EPS Growth 62.55% (at or above 15%: strong)
Next Y EPS Growth 34.69% (at or above 15%: strong)
Next Y revenue growth 126.37% (at or above 10%: strong)
Next 5Y EPS Growth 20.00% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 52.85%
10-year low 10-year high
P/B against its own 10 years 58.64%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2 14 7 4
Receivables — — — 0
Inventory — — — —
Other 12 3 2 2
14 18 9 6
2023 2024 2025 Q'26
Payables 2 1 0 2
ST’ Debt — — — —
Other 0 0 — 1
5 4 2 6

Compound Annual Growth %

10y 5y 3y
Sales (17.46%) 18.19% 22.54%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (10.18%) 35.99% (12.32%)

Revenue $m

Mar Jun Sep Dec Year
’26 2 2 — — —
’25 3 3 3 3 11
’24 7 5 2 3 17
’23 3 5 6 8 22
’22 1 2 1 1 6
’21 1 1 1 1 4
’20 1 1 1 2 5
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) (5) — — —
’25 (4) (6) (3) (3) (16)
’24 0 (3) 0 (2) (5)
’23 0 (2) (4) (1) (7)
’22 (16) (9) (4) (3) (31)
’21 (1) (3) (1) (23) (29)
’20 0 (1) (1) (1) (3)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) (5) — — —
’25 (5) (6) (5) (7) (23)
’24 0 (3) (4) (6) (14)
’23 1 (1) (4) 0 (4)
’22 (26) (15) (5) (3) (49)
’21 (1) (3) (86) (41) (131)
’20 0 (1) (1) (1) (3)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (1.18) (2.68) — — —
’25 (3.20) 0.60 (1.50) (3.25) (7.37)
’24 (2.70) 1.00 0.05 (3.60) (4.80)
’23 (3.50) (4.40) (5.00) (6.40) (19.30)
’22 (16.11) (43.42) (21.71) (123.25) (203.78)
’21 (18.91) (13.30) (4.90) (11.90) (40.62)
’20 (19.61) (28.71) (11.90) (11.90) (68.63)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 2,520.00 1,064.00 73.92 46.20 23.10 89.60 16.17 5.71 6.71 2.95

Analyst estimates 2026–2028

Powerpack
High 28,000.00 7,840.00 1,702.40 280.00 388.50 838.60 266.70 40.90 39.10 12.60
People
People Employees 387 388 41 28 32 25 27 5 4 4
Revenue/emp, $m 0.20 0.03 0.22 0.20 0.15 0.15 0.23 4.38 4.15 2.80
Income, $m
Income, $m Revenue 76 13 9 6 5 4 6 22 17 11
Gross margin, % 29.24 24.96 18.59 33.23 46.39 53.82 43.77 27.22 19.45 23.50
EBT (68) (16) (13) (4) (6) (17) (193) (23) (9) (21)
EBT margin, % (88.54) (129.15) (140.49) (76.73) (119.12) (465.16) (3,171.73) (106.44) (56.12) (192.11)
Net income (68) (26) (26) (4) (6) (17) (193) (23) (9) (21)
Depreciation 6 6 4 1 1 6 28 6 7 7
Per share, $
Per share, $ Revenue 21,220.28 1,415.62 381.01 145.29 57.71 8.44 6.42 18.06 8.39 3.84
Earnings (19,327.73) (2,946.78) (1,106.44) (111.34) (68.63) (40.62) (203.78) (19.30) (4.80) (7.37)
Cash flow (4,853.61) (1,007.30) (321.56) (47.21) (30.74) (64.71) (32.49) (5.43) (2.31) (5.53)
Capex (65.83) (13.82) (2.36) 0.00 0.00 (231.99) (18.94) 2.40 (4.52) (2.38)
Free cash flow (4,919.44) (1,021.12) (323.92) (47.21) (30.74) (296.70) (51.43) (3.03) (6.83) (7.91)
Book value 5,679.44 1,175.62 (236.58) 32.29 59.63 515.72 36.50 21.87 19.86 7.99
Shares, m 0 0 0 0 0 0 1 1 2 3
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S 0.19 1.07 0.56 0.37 1.73 25.87 3.05 1.85 1.13 0.78
P/B 0.71 1.29 0.00 0.00 0.00 0.42 0.54 1.53 0.48 0.37
EV/Sales 0.68 6.43 3.28 0.53 2.07 11.39 2.60 1.83 0.32 0.25
EV/FCF (2.91) (4.50) (3.78) (1.45) (3.58) (0.32) (0.32) (10.13) (0.41) (0.12)
Cash, $m
Cash, $m Operating cash flow (17) (9) (8) (2) (3) (29) (31) (7) (5) (16)
Capex 0 0 0 — — (102) (18) 3 (9) (7)
Free cash flow (18) (9) (8) (2) (3) (131) (49) (4) (14) (23)
Balance, $m
Balance, $m Working capital (13) 6 (6) (5) (4) 73 4 8 14 7
Total debt 44 — 7 0 2 — — — — —
Net debt 37 (1) 7 0 2 (54) (3) (2) (14) (7)
Shareholders’ equity 20 10 (6) 1 5 227 35 27 39 23
Returns, %
Returns, % ROA (59.10) (29.78) (55.43) (43.48) (57.11) (12.39) (107.43) (36.38) (21.31) (62.86)
ROIC (68.91) (114.51) (702.36) (237.99) (56.10) (7.13) (314.53) (75.14) (53.60) (84.20)
ROE (154.56) (169.43) (1,079.41) 66.83 82.77 (16.16) (147.27) (76.63) (28.77) (68.62)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Sphere 3D Corp. vs peers in Capital Markets (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GRAN Grande Group Limited $32.0M — — — — −420.52% (below 0%: shrinking) — — Compare
BGDE Mawson Infrastructure Group Inc. $30.9M — (loss-making) — (loss-making) −35.46% (below 0%: shrinking) n/m −56.83% (below 0%: shrinking) 26.14% (102.37%) Compare
PLUT Plutus Financial Group Limited $29.6M — — — — — — — Compare
FLD Fold Holdings, Inc. $28.7M — (loss-making) — (loss-making) −25.51% (below 0%: shrinking) n/m +812.60% (above 0%: growing) 3.98% (127.57%) Compare
ARBK Argo Blockchain PLC Sponsored ADR $28.1M — (loss-making) — (loss-making) −70.04% (below 0%: shrinking) n/m −128.72% (below 0%: shrinking) (22.79%) (57.47%) Compare
ATCH AtlasClear Holdings, Inc. $26.9M 13.4× — +136.82% (above 0%: growing) n/m −163.33% (below 0%: shrinking) 100.00% (53.57%) Compare
DRK Sphere 3D Corp. $22.9M — (loss-making) — (loss-making) −18.75% (below 0%: shrinking) n/m +12.31% (above 0%: growing) 6.73% (563.70%)
MDBH MDB Capital Holdings, LLC $20.6M — (loss-making) — +70.95% (above 0%: growing) n/m −21.65% (below 0%: shrinking) 100.00% 1,110.51% Compare
AXG Solowin Holdings $19.4M — — — — −170.02% (below 0%: shrinking) — — Compare
Median of peers $28.4M — — −25.51% — −128.72% 26.14% (57.47%)

All 93 Capital Markets stocks →

Sphere 3D Corp. (DRK) key facts

  • Concern: Sphere 3D Corp.’s revenue for fiscal 2025 (year ended December 2025) was $11.2 million, down 32.7% from fiscal 2024.
  • Sphere 3D Corp. (DRK) is a Capital Markets company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, DRK traded at $2.05, a market capitalization of $22.9 million.
  • Return on equity was −68.6% and debt-to-equity 0.00.
  • Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Sphere 3D Corp. (DRK) Latest News

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stockrow.com/DRK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com