Creative Realities (CREX)
Market Price (11/6/2026): $2.04 | Market Cap: $27.6 MilSector: Information Technology | Industry: Application Software
Creative Realities (CREX)
Market Price (11/6/2026): $2.04Market Cap: $27.6 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 50% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -57% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Advertising. Themes include Experiential Retail, and Ad-Tech Platforms. | Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -75% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 266% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% 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 -104% Key risksCREX key risks include [1] strained liquidity from high debt levels and negative cash flow and [2] a dependence on a concentrated base of key clients. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 50% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -57% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Advertising. Themes include Experiential Retail, and Ad-Tech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -75% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 266% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% |
| 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 -104% |
| Key risksCREX key risks include [1] strained liquidity from high debt levels and negative cash flow and [2] a dependence on a concentrated base of key clients. |
Qualitative Assessment
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Creative Realities (CREX) stock has lost about 35% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Earnings Miss and Widened Net Loss.
Creative Realities (CREX) reported a net loss of $4.3 million, or $0.41 per diluted share, for fiscal Q2 2026 (ended June 30, 2026). This figure significantly missed the consensus analyst estimate of -$0.29 per share by $0.12 and represents a widening of the net loss from $1.8 million ($0.17 per diluted share) in fiscal Q2 2025.
2. Increase in Operating Expenses.
During fiscal Q2 2026, Creative Realities experienced a notable rise in operating expenses. Sales and marketing expenses climbed to $2.0 million from $1.2 million in the prior-year quarter, and general and administrative expenses increased to $9.0 million from $5.2 million in fiscal Q2 2025. These increased costs contributed to the company's expanded net loss despite revenue growth.
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Creative Realities (CREX) stock has lost about 35% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Earnings Miss and Widened Net Loss.
Creative Realities (CREX) reported a net loss of $4.3 million, or $0.41 per diluted share, for fiscal Q2 2026 (ended June 30, 2026). This figure significantly missed the consensus analyst estimate of -$0.29 per share by $0.12 and represents a widening of the net loss from $1.8 million ($0.17 per diluted share) in fiscal Q2 2025.
2. Increase in Operating Expenses.
During fiscal Q2 2026, Creative Realities experienced a notable rise in operating expenses. Sales and marketing expenses climbed to $2.0 million from $1.2 million in the prior-year quarter, and general and administrative expenses increased to $9.0 million from $5.2 million in fiscal Q2 2025. These increased costs contributed to the company's expanded net loss despite revenue growth.
3. Dilutive Equity Offering.
Creative Realities completed a public offering around June 30, 2026, which priced 2,528,571 shares of common stock at $3.50 per share and generated approximately $12 million in net proceeds. While the immediate price drop from the announcement occurred before the specified period, the increased number of outstanding shares from this offering continued to dilute existing shareholders, exerting downward pressure on per-share metrics and overall stock performance in the subsequent months.
4. Negative Technical Outlook.
As of October 30, 2026, Creative Realities received a "Sell Candidate" rating from StockInvest.us, which also noted a technical sell signal initiated on September 11, 2026. Since this signal, the stock experienced a 24.73% decline, with predictions for a further 30.32% fall over the subsequent three months. This negative technical analysis contributed to the stock's bearish trend within the specified period.
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Stock Movement Drivers
Fundamental Drivers
The -35.4% change in CREX stock from 7/31/2026 to 11/5/2026 was primarily driven by a -42.8% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.14 | 2.03 | -35.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 64 | 72 | 13.3% |
| P/S Multiple | 0.5 | 0.3 | -42.8% |
| Shares Outstanding (Mil) | 11 | 11 | -0.2% |
| Cumulative Contribution | -35.4% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| CREX | -35.4% | |
| Market (SPY) | -1.9% | 21.2% |
| Sector (XLK) | -7.4% | 24.1% |
Fundamental Drivers
The -44.4% change in CREX stock from 4/30/2026 to 11/5/2026 was primarily driven by a -55.8% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.65 | 2.03 | -44.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 57 | 72 | 26.4% |
| P/S Multiple | 0.7 | 0.3 | -55.8% |
| Shares Outstanding (Mil) | 11 | 11 | -0.5% |
| Cumulative Contribution | -44.4% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| CREX | -44.4% | |
| Market (SPY) | 2.3% | 22.0% |
| Sector (XLK) | 1.9% | 23.7% |
Fundamental Drivers
The -30.7% change in CREX stock from 10/31/2025 to 11/5/2026 was primarily driven by a -53.5% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.93 | 2.03 | -30.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 72 | 50.0% |
| P/S Multiple | 0.6 | 0.3 | -53.5% |
| Shares Outstanding (Mil) | 10 | 11 | -0.7% |
| Cumulative Contribution | -30.7% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| CREX | -30.7% | |
| Market (SPY) | 8.4% | 28.2% |
| Sector (XLK) | 8.4% | 26.6% |
Fundamental Drivers
The 8.0% change in CREX stock from 10/31/2023 to 11/5/2026 was primarily driven by a 77.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.88 | 2.03 | 8.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 41 | 72 | 77.2% |
| P/S Multiple | 0.3 | 0.3 | -13.1% |
| Shares Outstanding (Mil) | 7 | 11 | -29.9% |
| Cumulative Contribution | 8.0% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| CREX | 8.0% | |
| Market (SPY) | 81.3% | 27.2% |
| Sector (XLK) | 101.5% | 26.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CREX Return | 9% | -59% | 36% | 4% | 7% | -22% | -48% |
| Peers Return | 32% | -32% | 70% | 53% | 23% | 21% | 248% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| CREX Win Rate | 50% | 42% | 83% | 33% | 33% | 45% | |
| Peers Win Rate | 64% | 33% | 53% | 64% | 64% | 61% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| CREX Max Drawdown | -62% | -63% | -65% | -51% | -56% | -51% | |
| Peers Max Drawdown | -22% | -48% | -39% | -18% | -29% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DAKT, LAMR, OUT.
[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] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | CREX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -51.7% | -18.8% |
| % Gain to Breakeven | 107.0% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.4% | -7.8% |
| % Gain to Breakeven | 12.9% | 8.5% |
| Time to Breakeven | 27 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -62.5% | -9.5% |
| % Gain to Breakeven | 166.4% | 10.5% |
| Time to Breakeven | 124 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.3% | -6.7% |
| % Gain to Breakeven | 24.0% | 7.1% |
| Time to Breakeven | 8 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -60.7% | -24.5% |
| % Gain to Breakeven | 154.4% | 32.4% |
| Time to Breakeven | 698 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.9% | -33.7% |
| % Gain to Breakeven | 112.1% | 50.9% |
| Time to Breakeven | 36 days | 140 days |
In The Past
Creative Realities's stock fell -51.7% during the 2025 US Tariff Shock. Such a loss loss requires a 107.0% gain to breakeven.
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Asset Allocation
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| Event | CREX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -51.7% | -18.8% |
| % Gain to Breakeven | 107.0% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -62.5% | -9.5% |
| % Gain to Breakeven | 166.4% | 10.5% |
| Time to Breakeven | 124 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -60.7% | -24.5% |
| % Gain to Breakeven | 154.4% | 32.4% |
| Time to Breakeven | 698 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.9% | -33.7% |
| % Gain to Breakeven | 112.1% | 50.9% |
| Time to Breakeven | 36 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.3% | -19.2% |
| % Gain to Breakeven | 39.5% | 23.8% |
| Time to Breakeven | 52 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -76.1% | -0.2% |
| % Gain to Breakeven | 318.9% | 0.2% |
| Time to Breakeven | 1801 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -27.1% | -17.9% |
| % Gain to Breakeven | 37.1% | 21.8% |
| Time to Breakeven | 73 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -84.9% | -53.4% |
| % Gain to Breakeven | 561.9% | 114.4% |
| Time to Breakeven | 150 days | 1085 days |
In The Past
Creative Realities's stock fell -51.7% during the 2025 US Tariff Shock. Such a loss loss requires a 107.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Creative Realities (CREX)
Creative Realities (CREX) provides digital marketing technology and solutions primarily to retail companies and enterprises across the United States and Canada. The company specializes in creating immersive digital experiences designed to enhance customer engagement and sales within both physical retail spaces and broader omni-channel environments.
Its core offerings include digital merchandising systems, interactive digital shopping assistants, advisors, and kiosks. CREX also develops and integrates various interactive marketing technologies such as mobile applications, social media integrations, point-of-sale transaction systems, and beaconing solutions. Beyond software, the company provides essential system hardware, professional services like software design and development, and ongoing support, licensing, deployment, and maintenance for its customized digital solutions.
CREX serves a diverse range of industries looking to modernize their customer interactions. Its client base spans sectors such as automotive, apparel, banking, beauty, consumer packaged goods (CPG), department stores, electronics, quick-service restaurants, financial services, and pharmacy retail, among many others. Essentially, Creative Realities helps a broad spectrum of businesses engage their consumers more effectively through innovative digital tools and platforms.
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Here are 1-2 brief analogies to describe Creative Realities (CREX):
- Shopify for in-store digital customer experiences. (Shopify helps retailers create online stores; CREX helps them create interactive digital experiences within their physical stores and across omni-channel touchpoints.)
- NCR, but focused on interactive digital marketing and customer engagement for retailers, rather than just transactions. (NCR is known for retail technology like POS systems and ATMs; CREX provides similar system hardware and software, but with an emphasis on customer engagement, digital merchandising, and interactive experiences.)
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- Digital Merchandising and Customer Engagement Systems: Provides digital merchandising systems, omni-channel engagement platforms, and interactive shopping assistants, advisors, and kiosks for retail environments.
- Interactive Marketing Technologies: Offers various interactive technologies, including mobile, social media, point-of-sale, beaconing, and web-based media, to engage consumers.
- System Hardware: Supplies the physical hardware components essential for implementing their digital solutions.
- Software Design, Development, and Licensing: Provides custom software design, development, and licensing for their specialized digital platforms.
- Implementation, Maintenance, and Support Services: Offers professional services for system implementation, ongoing maintenance, and technical support.
- Media and Device Management Platforms: Delivers software platforms and networks for managing and distributing digital media and controlling devices.
- Custom Integrated Solutions: Develops customized software layers, systems, and integrated solutions tailored to specific client workflows and experiences.
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Creative Realities (CREX) primarily sells its digital marketing technology and solutions to other companies and organizations, rather than directly to individuals.
Based on the provided company description, specific names of major customer companies are not disclosed. However, Creative Realities serves a wide array of industries and business types. Its customers typically fall into the following categories:
- Automotive industry
- Apparel and Accessories retail
- Banking and Financial Services
- Baby/Children product retail
- Beauty product retail
- CPG (Consumer Packaged Goods) sector
- Department Stores
- Digital Out-of-Home (DOOH) media
- Electronics retail
- Fashion retail
- Fitness industry
- Foodservice/Quick Service Restaurant (QSR) sector
- Gaming industry
- Luxury goods retail
- Mass Merchants
- Mobile Operators
- Pharmacy Retail
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Rick Mills, Chief Executive Officer
Rick Mills was appointed CEO of Creative Realities in October 2015. With over 32 years of industry experience, he previously founded ConeXus World Global, a leading digital media services company, which was subsequently acquired by Creative Realities. Before founding ConeXus, he served as President and Director at Beacon Enterprise Solutions Group, Inc. Additionally, he was the Chief Operating Officer and a Board Member at the publicly traded Pomeroy Computer Resources, Inc. from 1995 to 1999, where he contributed to growing sales from $100 million to $700 million. He was also a founder of Strategic Communications LLC. His career has been dedicated to restructuring, rebuilding, and rebranding technology companies for client-centricity, performance, growth, and shareholder return.
Tamra Koshewa, Chief Financial Officer
Tamra Koshewa was appointed Chief Financial Officer, effective December 1, 2025. She brings 30 years of financial leadership experience across diverse industries including manufacturing, technology, and services. Her background includes senior financial positions at Manna, LLFlex, HMI, Equipment Depot, AAF International, Time Warner Cable, and General Electric, where she completed GE's Experienced Financial Leadership Program and was certified as a Six Sigma Master Black Belt. Ms. Koshewa has held CFO positions at several firms and her role at Creative Realities focuses on integrating the recent Cineplex Digital Media acquisition, capturing synergies, pursuing margin expansion, de-levering the balance sheet, and improving shareholder returns.
Dan McAllister, Chief Revenue Officer
Dan McAllister was hired as Chief Revenue Officer, effective November 17, 2025. He has over 25 years of experience driving growth across digital signage, experiential technology, and enterprise SaaS. Mr. McAllister has guided organizations through significant growth inflection points, including transitions from static to dynamic networks, shifts to cloud-based CMS ecosystems, and the rise of programmatic Digital Out-of-Home networks. His expertise was shaped through his work with industry leaders such as Scala and Spectrio.
George Sautter, Chief Strategy Officer, Head of Corporate Development
George Sautter serves as the Chief Strategy Officer and Head of Corporate Development for Creative Realities. In this role, he plays a key part in integrating the Cineplex Digital Media business following its acquisition.
Lee Summers, President, Ad Tech & Media
Lee Summers is the President, Ad Tech & Media at Creative Realities. He also holds the title of President, Sports and Entertainment.
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The key risks to Creative Realities' (CREX) business are primarily centered around its financial leverage following a major acquisition and the operational challenges inherent in its industry.
- High Debt and Integration Risks Associated with the Cineplex Digital Media (CDM) Acquisition: Creative Realities recently incurred substantial debt from its acquisition of Cineplex Digital Media (CDM), significantly increasing its leverage to approximately 7.56x gross leverage post-acquisition and pushing total outstanding debt to roughly $39.9 million. The company's financial health and its ability to meet debt servicing obligations are now highly dependent on the successful integration of CDM and the realization of anticipated synergies. Failure to effectively integrate CDM or achieve the projected operational and financial benefits, such as doubling company size and significantly improving EBITDA margins, poses a substantial risk to the company's growth trajectory and overall financial stability.
- Revenue Volatility and Operational Challenges: Creative Realities has experienced recent declines in organic revenue, with a sharp drop in Q3 2025 revenue to $10.5 million from $14.4 million in the prior year, and a decrease in Annual Recurring Revenue (ARR). The business also faces operational risks from order delays, such as a $2 million order that slipped from Q3 to Q4 2025 due to deployment timing issues. Furthermore, the digital signage and media industry is highly competitive, exposing Creative Realities to pressure from larger firms and the risk of clients insourcing services. Supply chain shortages, which can delay hardware deployments and revenue recognition, also contribute to revenue volatility and impact operational efficiency. The company also needs to improve its sales pipeline conversion and address delays in enterprise customer deployments.
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- Digital Signage: The global digital signage market was valued at approximately USD 22 billion in 2024 and is projected to reach USD 49.4 billion by 2034, growing at a CAGR of 8.5% from 2025–2034. North America represents a substantial portion of this market, holding around 35.7% of the global share in 2024, with the U.S. alone accounting for USD 6.7 billion in the same year. The retail segment is a leading application, holding around 24.2% of the market share in 2025.
- Interactive Kiosks: The global interactive kiosk market was estimated at USD 34.79 billion in 2024 and is projected to reach USD 52.74 billion by 2030, with a CAGR of 7.2% from 2025 to 2030. North America held a significant share of over 42.0% in the global interactive kiosk market in 2024. The interactive kiosk market in North America is expected to reach a projected revenue of US$19.93 billion by 2030. The retail segment is expected to register a major share due to multiple use cases.
- Omni-channel Retail Solutions/Commerce Platforms: The global omnichannel retail commerce market size was valued at USD 8.1 billion in 2024 and is expected to reach USD 25.2 billion by 2032, growing at a CAGR of 15.24% during 2025-2032. North America dominated the omnichannel retail commerce market, accounting for 38% of the revenue share in 2024. The U.S. omnichannel retail commerce market is estimated to reach USD 6.39 billion in 2024 and USD 26.06 billion by 2032.
- Digital Marketing Software: The global digital marketing software market size was valued at USD 90.05 billion in 2025 and is projected to reach USD 404.01 billion by 2034, exhibiting a CAGR of 18.15% during the forecast period. North America accounts for around 36% of the global digital marketing software market share. The retail & e-commerce segment is expected to grow at the fastest CAGR of over 23% from 2026 to 2033 within the marketing technology market, and it holds approximately 21% of the digital marketing software market share.
- Virtual Shopping Assistants: The global AI shopping assistant market was valued at USD 3.65 billion in 2024 and is expected to reach USD 24.90 billion by 2032, representing a 27.22% CAGR. North America leads this market with approximately 38.42% market share in 2025. The U.S. AI shopping assistant market was valued at USD 1.00 billion in 2024 and is expected to reach USD 6.73 billion by 2032.
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Creative Realities, Inc. (CREX) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market opportunities:
- Strategic Acquisition of Cineplex Digital Media (CDM): The acquisition of Cineplex Digital Media (CDM) is a transformative move expected to significantly expand Creative Realities' operational scale and North American footprint, particularly in Canada. This acquisition is anticipated to attract new blue-chip clients and create substantial cross-selling opportunities, with management projecting total company revenue to exceed $100 million by 2026 once synergies are realized.
- Continued Growth in High-Margin Software-as-a-Service (SaaS) and Annual Recurring Revenue (ARR): A core focus for Creative Realities is to expand its high-margin, subscription-based Software-as-a-Service (SaaS) revenue and Annual Recurring Revenue (ARR). The company consistently highlights that new hardware deployments serve to further "seed" this higher-margin ARR, enhancing visibility into predictable revenue streams. Creative Realities has increased its 2024 exit ARR guidance and anticipates combined ARR and ad revenue to surpass $40 million entering 2026.
- Expansion within the Quick Service Restaurant (QSR) Vertical, particularly Drive-Thru Solutions: Creative Realities is actively capitalizing on robust demand within the Quick Service Restaurant (QSR) sector, with a particular emphasis on digital transformation solutions for drive-thru performance. The company has launched innovative modular drive-thru hardware systems, such as Digital Drive Thru 2.0, designed to simplify installation and maintenance. Significant contracts in this segment further underscore this as a key growth area.
- Development and Deployment of Retail Media Networks and Ad Tech Solutions: The company is strategically positioned to benefit from the anticipated growth in retail media networks, with expectations for significant expansion by 2026. Creative Realities is actively preparing for potential large retail media network deployments and has enhanced its ad tech capabilities through the launch of platforms like AdLogic CPM Plus.
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Share Repurchases
- Creative Realities repurchased a warrant to purchase 1,731,499 shares of its common stock from Slipstream Communications, LLC for $200,000 on February 17, 2026, which was originally issued in 2022.
- This warrant repurchase aimed to reduce potential dilution and enhance shareholder value.
Share Issuance
- The number of shares outstanding for Creative Realities was 10.519 million for the period ending September 30, 2025, representing a 0.69% increase from the same period in the prior year.
- As part of the financing for the Cineplex Digital Media acquisition in November 2025, Creative Realities issued $30 million of convertible preferred equity with a $3.00 conversion price to affiliates of North Run Capital LP.
Inbound Investments
- Affiliates of North Run Capital LP provided $30 million of convertible preferred equity as part of the financing for the Cineplex Digital Media acquisition in November 2025.
- Institutional investors bought a total of 449,971 shares of Creative Realities in the 24 months prior to March 2026, representing approximately $1.15 million in transactions.
- As of March 2026, major institutional investors include Cerity Partners LLC ($1.12M), Rothschild Wealth LLC ($587K), and Perritt Capital Management Inc ($515K).
Outbound Investments
- Creative Realities completed the acquisition of Cineplex Digital Media (CDM) for CAD $70 million in cash in November 2025, significantly expanding its scale and customer base in North America.
- In February 2022, Creative Realities acquired Reflect Systems for $16.1 million.
Capital Expenditures
- Capital expenditures for Creative Realities were -$212,000 in the 12 months prior to March 2026.
- The company invested $101K in capital expenditures in Q3 2025.
- Creative Realities' projected capital expenditures are $4 million for 2025, increasing to $7 million in 2026, and $8 million annually from 2027 to 2029, primarily focused on long-term assets and infrastructure.
Peer Outperformance in Application Software
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| CREX | Creative Realities | 23.3% | -1.0x | -32.3% | 5.2% | -56.9% | — |
| FROG | JFrog | 24.3% | -206.2x | 61.8% | 171.7% | 91.2% | +148pp |
| APPF | AppFolio | 24.0% | 48.7x | -9.4% | 17.3% | 72.7% | +130pp |
| SNPS | Synopsys | 26.2% | 78.3x | 7.6% | -10.1% | 29.2% | +86pp |
| YOU | Clear Secure | 23.2% | 33.1x | 80.9% | 261.3% | 28.9% | +86pp |
| PCOR | Procore Technologies | 19.8% | -294.3x | 5.7% | 48.9% | -19.8% | +37pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | -4.5% | 87.9% | 147.0% | FLEX 399% · TTMI 335% · JBL 268% |
| Technology Distributors | 9 | 41.5% | 40.5% | 44.9% | AVT 115% · SNX 101% · CNXN 68% |
| Semiconductor Materials & Equipment | 28 | 19.0% | 38.5% | 18.3% | AXTI 298% · KLAC 227% · LRCX 219% |
| Communications Equipment | 36 | -6.2% | 75.3% | 17.2% | AAOI 700% · LITE 446% · ANET 380% |
| Electronic Components | 24 | 3.9% | 54.9% | 16.5% | CLS 1768% · BELFA 923% · APH 268% |
| Electronic Equipment & Instruments | 27 | -7.8% | 26.6% | 4.8% | PI 107% · OSIS 100% · CXT 61% |
| Semiconductors | 55 | -6.9% | 28.4% | -15.7% | MU 822% · NVDA 513% · AVGO 470% |
| Technology Hardware, Storage & Peripherals | 21 | -9.8% | 50.3% | -27.4% | WDC 540% · DELL 520% · SMCI 481% |
| Internet Services & Infrastructure | 6 | -1.5% | 35.3% | -29.3% | GDDY 65% · VRSN 37% · AKAM -27% |
| IT Consulting & Other Services | 30 | -22.2% | -1.8% | -32.0% | APLD 222% · IBM 142% · GIB -9% |
| Application Software ← | 125 | -11.5% | -10.1% | -49.9% | PLTR 496% · AGYS 140% · FROG 91% |
| Systems Software | 70 | -11.3% | 19.3% | -56.2% | ZETA 220% · CRWD 218% · CVLT 132% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Creative Realities Earnings Notes | 12/16/2025 | |
| How Low Can Creative Realities Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.76 |
| Mkt Cap | 3.1 |
| Rev LTM | 1,394 |
| Op Inc LTM | 226 |
| FCF LTM | 166 |
| FCF 3Y Avg | 140 |
| CFO LTM | 223 |
| CFO 3Y Avg | 197 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.8% |
| Rev Chg 3Y Avg | 3.1% |
| Rev Chg Q | 10.3% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Inc Chg LTM | 40.9% |
| Op Inc Chg 3Y Avg | 14.1% |
| Op Mgn LTM | 13.6% |
| Op Mgn 3Y Avg | 11.4% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 13.3% |
| CFO/Rev 3Y Avg | 13.3% |
| FCF/Rev LTM | 9.9% |
| FCF/Rev 3Y Avg | 9.6% |
Price Behavior
| Market Price | $2.03 | |
| Market Cap ($ Bil) | 0.0 | |
| Distance from 52W High | -51.1% | |
| 50 Days | 200 Days | |
| DMA Price | $2.45 | $3.26 |
| DMA Trend | down | down |
| Distance from DMA | -17.1% | -37.7% |
| 3M | 1YR | |
| Volatility | 52.1% | 55.5% |
| Downside Capture | 182.79 | 149.41 |
| Upside Capture | -14.82 | 99.49 |
| Correlation (S&P 500) | 8.8% | 26.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.00 | -0.47 | 0.49 | 0.71 | 1.14 | 1.25 |
| Up Beta | 2.78 | 1.89 | 0.75 | 1.53 | 1.02 | 0.91 |
| Down Beta | -1.48 | -1.02 | -1.45 | -0.75 | 1.10 | 1.51 |
| Up Capture | -106% | -136% | -5% | 17% | 88% | 176% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 8 | 15 | 23 | 52 | 105 | 327 |
| Down Capture | 157% | 54% | 205% | 165% | 129% | 109% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 26 | 37 | 69 | 132 | 386 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CREX | |
|---|---|---|---|---|
| CREX | -25.7% | 55.5% | -0.34 | - |
| Sector ETF (XLK) | 11.0% | 28.3% | 0.35 | 26.0% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 27.7% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | -0.9% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -8.7% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 11.7% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 16.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CREX | |
|---|---|---|---|---|
| CREX | -16.4% | 81.3% | 0.11 | - |
| Sector ETF (XLK) | 15.9% | 26.4% | 0.55 | 22.5% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 23.2% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 0.6% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 6.0% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 12.6% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 16.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CREX | |
|---|---|---|---|---|
| CREX | -12.5% | 143.6% | 0.30 | - |
| Sector ETF (XLK) | 22.4% | 25.3% | 0.81 | 9.9% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 10.5% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | -0.7% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 2.8% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 7.4% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 7.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | 12.0% | -5.3% | -5.7% |
| 5/15/2026 | 2.7% | 1.9% | 3.0% |
| 11/12/2025 | -3.9% | -7.2% | 1.4% |
| 8/13/2025 | 14.2% | -3.3% | -4.6% |
| 5/14/2025 | 7.3% | 14.0% | 97.8% |
| 5/15/2023 | -9.1% | -8.7% | 5.7% |
| 3/30/2023 | 5.9% | 0.9% | 20.1% |
| 11/14/2022 | 7.6% | 5.0% | 10.2% |
| SUMMARY STATS | |||
| # Positive | 6 | 4 | 6 |
| # Negative | 2 | 4 | 2 |
| Median Positive | 7.4% | 3.5% | 7.9% |
| Median Negative | -6.5% | -6.3% | -5.1% |
| Max Positive | 14.2% | 14.0% | 97.8% |
| Max Negative | -9.1% | -8.7% | -5.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | 12.0% | -5.3% | -5.7% |
| 5/15/2026 | 2.7% | 1.9% | 3.0% |
| 11/12/2025 | -3.9% | -7.2% | 1.4% |
| 8/13/2025 | 14.2% | -3.3% | -4.6% |
| 5/14/2025 | 7.3% | 14.0% | 97.8% |
| 5/15/2023 | -9.1% | -8.7% | 5.7% |
| 3/30/2023 | 5.9% | 0.9% | 20.1% |
| 11/14/2022 | 7.6% | 5.0% | 10.2% |
| SUMMARY STATS | |||
| # Positive | 6 | 4 | 6 |
| # Negative | 2 | 4 | 2 |
| Median Positive | 7.4% | 3.5% | 7.9% |
| Median Negative | -6.5% | -6.3% | -5.1% |
| Max Positive | 14.2% | 14.0% | 97.8% |
| Max Negative | -9.1% | -8.7% | -5.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/22/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/10/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 05/14/2020 | 10-Q |
| 12/31/2019 | 03/13/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
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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