Flash Sports & Media (FLZH)
Market Price (7/22/2026): $1.71 | Market Cap: $0.9 MilSector: Communication Services | Industry: Broadcasting
Flash Sports & Media (FLZH)
Market Price (7/22/2026): $1.71Market Cap: $0.9 MilSector: Communication ServicesIndustry: Broadcasting
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Markets & Betting. Themes include Real-time Sports Media & Analytics, and Prediction Markets. | Weak multi-year price returns2Y Excs Rtn is -67%, 3Y Excs Rtn is -101% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -59% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 724% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -48%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -131% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.9% 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 -4927% High stock price volatilityVol 12M is 120% Key risksFLZH key risks include [1] substantial execution risk from its strategic pivot into sports and media, Show more. |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Markets & Betting. Themes include Real-time Sports Media & Analytics, and Prediction Markets. |
| Weak multi-year price returns2Y Excs Rtn is -67%, 3Y Excs Rtn is -101% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -59% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 724% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -48%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -131% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.9% |
| 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 -4927% |
| High stock price volatilityVol 12M is 120% |
| Key risksFLZH key risks include [1] substantial execution risk from its strategic pivot into sports and media, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Flash Sports & Media (FLZH) stock has lost about 35% since it went public on 6/17/2026 because of the following key factors:
1. Flash Sports & Media's initial valuation post-merger, with a reference price of $3.23 per share from its all-stock transaction, appears to have been rapidly re-evaluated by the market due to the company's pre-existing financial challenges. Flash Sports & Media Holdings (formerly urban-gro, Inc.) reported a net loss of -$22.1 million for fiscal year 2025 and -$21.3 million for the trailing 12 months ending fiscal Q1 2026 (which ended March 31, 2026). Furthermore, its revenue for fiscal Q1 2026 was $0.0, representing a 100% decrease from the previous quarter, indicating a lack of revenue generation immediately preceding its public listing as FLZH. This historical unprofitability and lack of revenue from its new strategic focus likely contributed to investor skepticism and a significant decline from the merger reference price.
2. The conversion of a substantial amount of Series B Convertible Preferred Stock immediately at the time of the IPO led to significant share dilution. As of June 17, 2026, Flash Sports & Media Holdings had 53,539,119 shares of common stock issued and outstanding following the conversion of its Series B Preferred Stock at a price of $3.23 per share. This conversion, approved by stockholders on June 12, 2026, increased the number of common shares available in the market, potentially creating selling pressure and diluting the value for new public investors.
Show more
Flash Sports & Media (FLZH) stock has lost about 35% since it went public on 6/17/2026 because of the following key factors:
1. Flash Sports & Media's initial valuation post-merger, with a reference price of $3.23 per share from its all-stock transaction, appears to have been rapidly re-evaluated by the market due to the company's pre-existing financial challenges. Flash Sports & Media Holdings (formerly urban-gro, Inc.) reported a net loss of -$22.1 million for fiscal year 2025 and -$21.3 million for the trailing 12 months ending fiscal Q1 2026 (which ended March 31, 2026). Furthermore, its revenue for fiscal Q1 2026 was $0.0, representing a 100% decrease from the previous quarter, indicating a lack of revenue generation immediately preceding its public listing as FLZH. This historical unprofitability and lack of revenue from its new strategic focus likely contributed to investor skepticism and a significant decline from the merger reference price.
2. The conversion of a substantial amount of Series B Convertible Preferred Stock immediately at the time of the IPO led to significant share dilution. As of June 17, 2026, Flash Sports & Media Holdings had 53,539,119 shares of common stock issued and outstanding following the conversion of its Series B Preferred Stock at a price of $3.23 per share. This conversion, approved by stockholders on June 12, 2026, increased the number of common shares available in the market, potentially creating selling pressure and diluting the value for new public investors.
3. Investors face uncertainty regarding the timeline for monetization and profitability of the company's new Twenty20 cricket media business model. While Flash Sports & Media has announced strategic initiatives such as the planned launch of new leagues (e.g., Zimbabwe T20 League in June 2026) and a direct-to-consumer cricket streaming app (FLASHSM) on July 16, 2026, the company's reported revenue for fiscal Q1 2026 was $0.0. The market appears to be taking a cautious stance, questioning how quickly these new ventures will translate into substantial revenue and, more importantly, profitability, given the company's history of increasing losses over the past five years at an average annual rate of 38.1%.
Show less
Stock Movement Drivers
Fundamental Drivers
nullnull
Market Drivers
3/31/2026 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FLZH | ||
| Market (SPY) | 15.1% | 25.0% |
| Sector (XLC) | -0.7% | -36.1% |
Fundamental Drivers
nullnull
Market Drivers
12/31/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FLZH | ||
| Market (SPY) | 10.0% | 25.0% |
| Sector (XLC) | -6.2% | -36.1% |
Fundamental Drivers
nullnull
Market Drivers
6/30/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FLZH | ||
| Market (SPY) | 22.1% | 25.0% |
| Sector (XLC) | 2.4% | -36.1% |
Fundamental Drivers
nullnull
Market Drivers
6/30/2023 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FLZH | ||
| Market (SPY) | 74.8% | 25.0% |
| Sector (XLC) | 74.4% | -36.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FLZH Return | - | - | - | - | - | -35% | -35% |
| Peers Return | 29% | -16% | 5% | 46% | 25% | 23% | 154% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| FLZH Win Rate | - | - | - | - | - | 0% | |
| Peers Win Rate | 58% | 46% | 42% | 72% | 50% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| FLZH Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -22% | -36% | -22% | -12% | -24% | -14% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TKO, MSGS, LYV.
[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 7/21/2026 (YTD)
How Low Can It Go
FLZH has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.7% | -18.8% |
| % Gain to Breakeven | 21.5% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% 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.
FLZH has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% 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 Flash Sports & Media (FLZH)
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
- Strategic Transition and Integration Risks: Flash Sports & Media is undergoing a major strategic pivot, transitioning from its legacy business of providing engineering design services and equipment systems for controlled-environment agriculture to becoming a global sports and media platform. This abrupt shift, involving the exit from core sectors, asset sales, workforce reduction, and the integration of new business units such as Innovative Production Group FZ, LLC, presents substantial execution risk. The company must successfully develop and monetize new opportunities in the highly competitive sports and media industry, and there is inherent uncertainty regarding market acceptance and the coherence of this new strategy.
- Financial and Liquidity Risks: The company has a history of significant financial distress, including negative operating cash flow, loan defaults and restructurings, and equity-financed settlements. It has also reported substantial historical losses and accumulated deficits, leading to "going concern" qualifications. These financial pressures indicate a fragile balance sheet and a high degree of uncertainty regarding its ability to secure sufficient funding and achieve sustainable profitability in its new business segment.
- Nasdaq Compliance and Delisting Risks: Flash Sports & Media (under its former name, urban-gro, Inc.) has repeatedly received Nasdaq deficiency notices. These issues stemmed from factors such as late SEC filings, a low share price, and failure to maintain the required minimum stockholders' equity. While extensions have been granted, continued non-compliance could lead to the delisting of its common stock. Delisting would severely impair the company's ability to raise capital, reduce stock liquidity, potentially trigger defaults on existing agreements, and could ultimately jeopardize its continued operations.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Flash Sports & Media (symbol: FLZH) over the next 2-3 years:
- Expansion and Launch of New Sports Leagues and Events: Flash Sports & Media is actively focused on expanding its portfolio of live sports properties, notably through the launch of new professional franchise cricket leagues. An example is the Malaysia T20 League (MT20), scheduled to debut in September and October 2026. This initiative is designed to build long-term franchise value through various revenue streams, including media rights, sponsorships, and franchise ownership opportunities.
- Monetization of Global Media Rights and Broadcasting: The company emphasizes the commercialization and monetization of global media rights for its live sports properties. This includes securing global broadcast distribution and digital/streaming initiatives for the leagues and events it owns or manages, thereby expanding its reach and revenue potential from media content.
- Growth in Sponsorships and Branded Content: Flash Sports & Media aims to drive revenue growth through increased global sponsorship sales and the integration of brands into its sports and media platform. The company's focus on creating branded content and forging commercial partnerships with sponsors for its events and content will be a significant driver.
- Enhanced Fan Engagement and Experiential Marketing: A core part of Flash Sports & Media's strategy is the creation and monetization of branded fan experiences and high-impact experiential activations. This focus on engaging global audiences through live events and fan-centric initiatives can generate revenue from ticketing, merchandise, and other direct-to-consumer commercialization efforts.
- Strategic Geographic Expansion: The company's operations span regions such as the United Arab Emirates, India, South Africa, and Singapore, with a stated vision for unmatched worldwide reach. Continued penetration into these existing markets and strategic expansion into new territories across Asia, North America, Europe, the Middle East, and Africa are expected to broaden its audience and revenue base.
AI Analysis | Feedback
Share Repurchases
- Flash Sports & Media, under its former name urban-gro, Inc., executed significant share repurchases, including $3.43 million in the third quarter of 2021 and $784.38K in the fourth quarter of 2021.
- In the first quarter of 2022, share repurchases amounted to $3.78 million.
- The company expanded its share repurchase program by $2 million across two instances in January and February 2022.
Share Issuance
- As of June 16, 2026, the number of shares outstanding for Flash Sports & Media (FLZH) increased by 18.94% year-over-year and 52.38% quarter-over-quarter.
- On June 12, 2026, shareholders approved the issuance of common shares upon the conversion of Series B Convertible Non-Voting Preferred Stock, as well as additional issuances related to transactions with Hudson Global Ventures, LLC and Agile Hudson Partners LLC.
- A 1:25 reverse stock split was completed on February 9, 2026.
Inbound Investments
- The company underwent a strategic transformation on June 12, 2026, rebranding from urban-gro, Inc. to Flash Sports & Media, Inc. (FLZH), which followed its business combination with Flash Sports & Media (the private entity) and the integration of Innovative Production Group FZ, LLC.
Outbound Investments
- urban-gro, Inc. completed the acquisition of Flash Sports & Media, Inc. (the private entity) in February 2026, a key strategic investment that led to the corporate rebrand and a new focus on the sports and media industry.
- The company is developing the Malaysia T20 League (MT20), a new professional franchise cricket league, through its subsidiary Innovative Production Group FZ, LLC, in partnership with the Malaysian Cricket Association, with its debut planned for September and October 2026.
Capital Expenditures
- Capital expenditures for Flash Sports & Media totaled approximately -$298,215 in the last 12 months as of June 16, 2026.
- For the fiscal year 2025, capital expenditures were -$298.22K.
- In the fiscal year 2024, capital expenditures amounted to -$131.39K.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 179.76 |
| Mkt Cap | 11.8 |
| Rev LTM | 3,071 |
| Op Inc LTM | 361 |
| FCF LTM | 629 |
| FCF 3Y Avg | 438 |
| CFO LTM | 936 |
| CFO 3Y Avg | 498 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.1% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | 7.0% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | -25.7% |
| Op Inc Chg 3Y Avg | -25.6% |
| Op Mgn LTM | 0.3% |
| Op Mgn 3Y Avg | 4.3% |
| QoQ Delta Op Mgn LTM | -2.3% |
| CFO/Rev LTM | 7.2% |
| CFO/Rev 3Y Avg | 7.5% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | 5.7% |
Price Behavior
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -2.81 | -6.80 | -5.61 | 1.06 | -1.20 | -3.48 |
| Up Beta | -5.74 | -4.72 | 1.58 | 0.55 | -7.09 | -2.05 |
| Down Beta | 7.17 | 18.48 | 9.79 | -6.53 | 9.77 | -4.22 |
| Up Capture | -35% | -17% | -8% | -5% | -2% | -0% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 3 | 3 | 3 | 3 | 3 | 3 |
| Down Capture | 272% | 214% | 188% | 79% | 52% | 28% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 5 | 5 | 5 | 5 | 5 | 5 |
[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 FLZH | |
|---|---|---|---|---|
| FLZH | -34.6% | 119.6% | -3.42 | - |
| Sector ETF (XLC) | 4.7% | 14.0% | 0.09 | -36.1% |
| Equity (SPY) | 20.3% | 12.6% | 1.19 | 25.0% |
| Gold (GLD) | 21.6% | 28.1% | 0.69 | 7.9% |
| Commodities (DBC) | 31.4% | 19.1% | 1.30 | 22.5% |
| Real Estate (VNQ) | 15.0% | 14.0% | 0.76 | -21.1% |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | 6.0% |
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 FLZH | |
|---|---|---|---|---|
| FLZH | -8.1% | 119.6% | -3.42 | - |
| Sector ETF (XLC) | 7.1% | 20.8% | 0.26 | -36.1% |
| Equity (SPY) | 12.9% | 17.1% | 0.58 | 25.0% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 7.9% |
| Commodities (DBC) | 8.9% | 19.5% | 0.35 | 22.5% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | -21.1% |
| Bitcoin (BTCUSD) | 14.9% | 53.4% | 0.46 | 6.0% |
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 FLZH | |
|---|---|---|---|---|
| FLZH | -4.1% | 119.6% | -3.42 | - |
| Sector ETF (XLC) | 9.0% | 22.1% | 0.46 | -36.1% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 25.0% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | 7.9% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 22.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | -21.1% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 6.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2024 | 01/16/2026 | 10-K |
| 09/30/2024 | 02/18/2025 | 10-Q |
| 06/30/2024 | 02/18/2025 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/29/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/11/2021 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2024 | 01/16/2026 | 10-K |
| 09/30/2024 | 02/18/2025 | 10-Q |
| 06/30/2024 | 02/18/2025 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/29/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/11/2021 | 10-Q |
| 12/31/2020 | 03/31/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 07/06/2020 | 10-Q |
| 12/31/2019 | 05/18/2020 | 10-K |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Broadcasting Resources |
| Broadcasting & Cable |
| TV Technology |
| Radio Ink |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.