Aether (ATHR)
Market Price (12/31/2025): $6.15 | Market Cap: $74.4 MilSector: Information Technology | Industry: Application Software
Aether (ATHR)
Market Price (12/31/2025): $6.15Market Cap: $74.4 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% | Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -233% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Advanced Aviation & Space, and Autonomous Technologies. Themes include Edge AI, Show more. | Expensive valuation multiplesP/SPrice/Sales ratio is 55x | |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.1% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -259%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -277% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.3% | ||
| High stock price volatilityVol 12M is 135% | ||
| Key risksATHR key risks include [1] severe allegations of securities fraud and operating as a potential pump-and-dump scheme, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Advanced Aviation & Space, and Autonomous Technologies. Themes include Edge AI, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -233% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 55x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.1% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -259%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -277% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.3% |
| High stock price volatilityVol 12M is 135% |
| Key risksATHR key risks include [1] severe allegations of securities fraud and operating as a potential pump-and-dump scheme, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Litchfield Hills initiated coverage with a Buy rating and a $10 price target in September 2025, providing a positive endorsement for the company's approach.
2. Alpha Edge Media, a subsidiary of Aether, expanded its digital asset and AI analytics capabilities through the acquisition of the AI-powered crypto news platform 21Bitcoin.xyz in October 2025.
Show more
Stock Movement Drivers
Fundamental Drivers
The 4.0% change in ATHR stock from 9/30/2025 to 12/30/2025 was primarily driven by a 6.8% change in the company's P/S Multiple.| 9302025 | 12302025 | Change | |
|---|---|---|---|
| Stock Price ($) | 6.02 | 6.26 | 3.99% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1.39 | 1.38 | -0.78% |
| P/S Multiple | 51.36 | 54.85 | 6.79% |
| Shares Outstanding (Mil) | 11.87 | 12.10 | -1.89% |
| Cumulative Contribution | 3.95% |
Market Drivers
9/30/2025 to 12/30/2025| Return | Correlation | |
|---|---|---|
| ATHR | 4.0% | |
| Market (SPY) | 3.1% | -6.6% |
| Sector (XLK) | 3.2% | -4.7% |
Fundamental Drivers
The -54.1% change in ATHR stock from 6/30/2025 to 12/30/2025 was primarily driven by a -52.2% change in the company's P/S Multiple.| 6302025 | 12302025 | Change | |
|---|---|---|---|
| Stock Price ($) | 13.64 | 6.26 | -54.12% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1.41 | 1.38 | -1.79% |
| P/S Multiple | 114.82 | 54.85 | -52.23% |
| Shares Outstanding (Mil) | 11.83 | 12.10 | -2.26% |
| Cumulative Contribution | -54.15% |
Market Drivers
6/30/2025 to 12/30/2025| Return | Correlation | |
|---|---|---|
| ATHR | -54.1% | |
| Market (SPY) | 11.5% | -1.6% |
| Sector (XLK) | 15.0% | 0.8% |
Fundamental Drivers
The -86.1% change in ATHR stock from 12/31/2024 to 12/30/2025 was primarily driven by a -2.3% change in the company's Shares Outstanding (Mil).| 12312024 | 12302025 | Change | |
|---|---|---|---|
| Stock Price ($) | 44.99 | 6.26 | -86.09% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | � | 1.38 | � |
| P/S Multiple | � | 54.85 | � |
| Shares Outstanding (Mil) | 11.83 | 12.10 | -2.26% |
| Cumulative Contribution | � |
Market Drivers
12/31/2024 to 12/30/2025| Return | Correlation | |
|---|---|---|
| ATHR | -86.1% | |
| Market (SPY) | 18.2% | -0.6% |
| Sector (XLK) | 25.7% | -0.6% |
Fundamental Drivers
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Market Drivers
12/31/2022 to 12/30/2025| Return | Correlation | |
|---|---|---|
| ATHR | -86.1% | |
| Market (SPY) | 86.3% | -0.6% |
| Sector (XLK) | 138.5% | -0.6% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ATHR Return | 0% | 0% | 0% | 0% | 0% | -86% | -86% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 15% | 149% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 113% |
Monthly Win Rates [3] | |||||||
| ATHR Win Rate | 0% | 0% | 0% | 0% | 0% | 25% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| ATHR Max Drawdown | 0% | 0% | 0% | 0% | 0% | -89% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/30/2025 (YTD)
How Low Can It Go
| Event | ATHR | S&P 500 |
|---|---|---|
| 2008 Global Financial Crisis | ||
| % Loss | -67.2% | -56.8% |
| % Gain to Breakeven | 204.8% | 131.3% |
| Time to Breakeven | 316 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Aether's stock fell -67.2% during the 2008 Global Financial Crisis from a high on 11/1/2007. A -67.2% loss requires a 204.8% gain to breakeven.
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Asset Allocation
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AI Analysis | Feedback
Here are 1-3 brief analogies for Aether (ATHR):
- Uber for flying taxis.
- Amazon Prime Air as a standalone drone delivery company.
- Tesla, but focused on electric aircraft and air mobility infrastructure.
AI Analysis | Feedback
I am unable to identify the major products or services for the public company "Aether" (symbol: ATHR).
My search indicates that there is no publicly traded company currently listed under this exact name and stock symbol.
AI Analysis | Feedback
Upon reviewing publicly available financial data and corporate filings, there does not appear to be a prominent public company named "Aether" with the stock symbol ATHR for which major customer information is readily disclosed.
Typically, for public companies, information regarding major customers (especially those accounting for a significant portion of revenue) is found in their annual reports (10-K filings) under sections like "Business," "Risk Factors" (e.g., dependence on a few customers), or in the notes to financial statements. Investor presentations and earnings call transcripts can also provide insights into customer bases and market segments.
As no such definitive public company profile for "Aether (ATHR)" could be identified with the necessary public information, it is not possible to accurately identify its major customers or categorize its customer base as requested.
AI Analysis | Feedback
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AI Analysis | Feedback
Kuan Liang Lin, Chief Executive Officer & ChairmanMr. Kuan Liang Lin, also known as Nicolas, has served as a Director at Aether Holdings Inc. since August 25, 2023. He also serves as CEO, Director of Corporate, CFO, and Director at St. James Gold Corp. from 2025. Mr. Lin brings a decade of corporate finance acumen, specializing in U.S. transactions and frequently representing Asian clientele. His board experiences include Moxian, Inc. (NASDAQ: MOXC), Flewber Global, Inc. (NASDAQ: FLYF), and St James Gold Corp. (TSX-V: LORD; OTCQB: LRDJF). He has held diverse finance and legal positions, primarily advising Chinese and Asia-based businesses on matters ranging from restructuring to fundraising. Suresh R. Iyer, Chief Financial Officer
Mr. Suresh R. Iyer was appointed as Chief Financial Officer on June 13, 2024. He possesses over 25 years of international finance experience and is a CPA and ACA credentialed professional. Mr. Iyer is proficient in US GAAP, IFRS, SEC Reporting, and IPO readiness, having led financial strategy and audits for prominent firms such as BDO USA LLP and PricewaterhouseCoopers LLP. Prior to Aether, he was the Managing Partner of SRI Associates and a founding member of Ledger Folios. He also has extensive knowledge and exposure to the Fintech and startup industries. Hao Hu, Chief Technical Officer
Mr. Hao Hu has served as CTO at several technology companies both domestically and internationally over the past decade. He is dedicated to exploring advanced technology, guiding the application of innovative technology approaches, machine learning, and integrating artificial intelligence to develop novel signals and systematic strategies. Chi Ching Ho, Chief Strategy Officer
Mr. Chi Ching Ho was appointed Chief Strategy Officer on June 13, 2024. He is a corporate strategy professional with over 25 years of business experience, demonstrating a track record in driving growth and expansion through strategic planning, mergers & acquisitions, and joint-venture partnerships. Mr. Ho advised the Hoovest Group on investments and strategic alliances since July 2020 and previously led corporate development at Lai Sun Development. As a co-founder and executive director at Pergill Internationally Holdings Inc., he successfully completed acquisitions totaling US$280 million. Siu Hang Wong (Henry), Chief Operating Officer
Mr. Siu Hang Wong, known as Henry, was appointed Chief Operating Officer on June 13, 2024. He is responsible for overseeing the operational aspects of Aether and ensuring the efficient implementation of its strategic objectives. Mr. Wong has a successful history of managing significant listings and transactions for public companies, including Banxa Holdings Inc., Little Fish Acquisition I Corp, and Aurum Lake Mining Corporation. With over 10 years of operational expertise, his experience spans operations, media, and marketing, and he has served as an organizer at the Global Chinese Financial Forum.
AI Analysis | Feedback
The key risks for the public company Aether (symbol: ATHR) are primarily related to allegations of securities fraud, ongoing operating losses coupled with a volatile treasury strategy, and intense competition within its sector.
- Allegations of Securities Fraud and Regulatory Violations: Aether Holdings (ATHR) faces severe accusations, including securities fraud, violations of IPO lock-up agreements, undisclosed insider transactions, material misrepresentations in SEC filings, and the use of sham acquisitions to inflate perceived growth. Reports suggest the company operates with "auditor red flags" and "nonexistent operations," characterizing it as a potential "pump-and-dump" scheme.
- Operating Losses, High Cash Burn, and Volatile Bitcoin Treasury Strategy: The company has reported continued operating losses and a high rate of cash consumption from its operations. Despite recent IPO proceeds that improved liquidity, the substantial operating cash burn and net losses remain significant concerns. Furthermore, Aether Holdings plans to allocate approximately 85% of its public offering proceeds to acquire Bitcoin, introducing significant financial risk due to the cryptocurrency's inherent volatility. A notable portion of the company's cash also exceeds FDIC insurance limits, exposing it to potential bank credit risk.
- Intense Competition and Challenges in Marketing/Product Development: Aether Holdings operates in the highly competitive financial technology (fintech) and financial newsletter sectors. Key business risks include the company's ability to effectively market its products and services, and to successfully develop or acquire new product offerings in a rapidly evolving industry. The nature of investing in micro-cap and growth securities like ATHR is also described as highly speculative, carrying a substantial degree of risk where investors could potentially lose their entire investment.
AI Analysis | Feedback
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AI Analysis | Feedback
For Aether (ATHR), the addressable markets for their main products and services are as follows:
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AI-Powered Financial Research, Analytics, and Trading Tools (including Sentiment Analysis):
- The Sentiment Analytics Market in the U.S. was valued at approximately $1.4 billion in 2024.
- Globally, the Stock Analysis Software Market, which includes sentiment analysis software, was valued at USD 145.6 million in 2024 and is projected to reach USD 450.68 million by 2032, growing at a CAGR of 15.17% from 2026 to 2032.
- The U.S. online trading platform market, which targets both retail and institutional investors with advanced platforms similar to Aether's offerings, is valued at USD 3.41 billion in 2025 and is forecast to reach USD 4.63 billion by 2030, with advanced platforms projected to rise at an 8.5% CAGR to 2030.
-
Digital Financial Newsletters and Content (Alpha Edge Media):
- The global Daily Newsletters Market was valued at USD 12,540 million in 2023 and is projected to reach USD 18,660 million by 2031, growing at a CAGR of 6.5% during the forecast period of 2024-2031. North America is a dominant region in this market in 2025.
AI Analysis | Feedback
Aether (ATHR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- High Growth Revenue Forecast and Expanding Customer Base: Aether's revenue is projected for significant growth, with an annual rate of 156.4% per year, substantially outpacing the broader US market. Analysts anticipate a consensus revenue estimate of $8.00 million by September 2026, indicating a 455.94% year-over-year growth. The company is also focused on expanding its customer base.
- Innovative Product Launches and AI-powered Analytics: Aether plans to launch innovative products, leveraging its AI-driven sentiment analysis platform, SentimenTrader.com. The company offers a suite of tools, including thousands of market indicators and charts, a code-free strategy backtesting engine, and machine-learning scanners for various assets, aiming to provide actionable insights to both advanced retail and institutional clients.
- Strategic Acquisitions and Expansion into Digital Assets: Aether is actively pursuing targeted acquisitions to expand its market reach. Its acquisition of AltcoinInvesting.co represents a deliberate entry into the rapidly growing digital asset research sector, bringing in a dedicated audience of crypto and blockchain investors and new content streams. Additionally, the launch of Alpha Edge Media™ further enhances its newsletter offerings and broadens coverage across equities and digital assets.
- Targeted Investments in Technology and Customer Engagement: The company is strategically investing in technology and customer engagement initiatives to bolster its market positioning. Aether is developing a comprehensive financial intelligence platform that encompasses equities, options, IPOs, small-caps, and digital assets, establishing itself as a multi-asset hub for investors.
- Capitalizing on a Growing Market for Multi-Asset Financial Intelligence: The market for multi-asset financial intelligence is experiencing rapid expansion, fueled by increasing retail participation, institutional demand for behavioral insights, and the rising adoption of AI in investing. This market is forecasted to exceed $100 billion by the end of the decade. Aether's SentimenTrader.com platform, with its blend of market sentiment, AI-driven analytics, and a multi-asset approach, is well-positioned to capture a significant share of this expanding opportunity.
AI Analysis | Feedback
Capital Allocation Decisions for Aether (ATHR) over the Last 3-5 Years
Share Repurchases
- Aether incurred $351,562 in expenses related to repurchasing shares from Jason Goepfert in September 2023.
Share Issuance
- Aether Holdings completed its Initial Public Offering (IPO) on April 11, 2025, issuing 1,800,000 shares of common stock at $4.30 per share, which generated $7.74 million in gross proceeds.
- On April 16, 2025, the underwriters fully exercised an over-allotment option to purchase an additional 270,000 shares, bringing in an extra $1.161 million in gross proceeds.
- The company announced a proposed $40 million public offering of units (consisting of common stock and warrants) in July 2025.
Inbound Investments
- Aether Holdings raised approximately $6.52 million in net proceeds from its IPO in April 2025.
- A proposed public offering in July 2025 aims to raise $40 million in gross proceeds through the issuance of units.
Outbound Investments
- Aether's subsidiary, Alpha Edge Media, acquired 21bitcoin.xyz, an AI-powered crypto news engine, in October 2025 through an all-cash transaction.
- Alpha Edge Media also acquired the online newsletter WhaleTales in September 2025 to expand its crypto policy and market trend coverage.
- The company plans to use approximately 85% of the net proceeds from its proposed July 2025 $40 million public offering to acquire bitcoin as part of a new treasury strategy.
Capital Expenditures
- Aether Holdings reported minimal capital expenditures, with Property, Plant & Equipment valued at $0 in June 2025 and September 2024, and $0.01 million in September 2023 and 2022.
Trade Ideas
Select ideas related to ATHR. For more, see Trefis Trade Ideas.
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| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 14.8% | 14.8% | -0.9% |
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| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.4% | 17.4% | -0.1% |
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Aether
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 50.74 |
| Mkt Cap | 157.1 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 11,753 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 13,498 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 2.6% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 12.1% |
| Op Mgn 3Y Avg | 16.4% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 21.4% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 18.6% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 12/17/2025 | 10-K (09/30/2025) |
| 06/30/2025 | 08/19/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/16/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 04/11/2025 | 424B4 (12/31/2024) |
| 09/30/2024 | 04/11/2025 | 424B4 (09/30/2024) |
| 06/30/2024 | 10/18/2024 | DRS/A (06/30/2024) |
| 03/31/2024 | 08/12/2024 | DRS/A (03/31/2024) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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