IBO Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About IBO Interactive Breakdown Better Bets vs. IBO Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Impact BioMedical (IBO)

    Market Price (10/11/2026): $4.33 | Market Cap: $37.0 MilSector: Health Care | Industry: Biotechnology

    Impact BioMedical (IBO)

    Market Price (10/11/2026): $4.33
    Market Cap: $37.0 Mil
    Sector: Health Care
    Industry: Biotechnology

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 400%

    Valuation becoming less expensive
    P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%

    Megatrend and thematic drivers
    Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.

    Weak multi-year price returns
    2Y Excs Rtn is -109%, 3Y Excs Rtn is -171%

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -5.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14563%

    Expensive valuation multiples
    P/SPrice/Sales ratio is 1,037x, P/EPrice/Earnings or Price/(Net Income) is 46x

    Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -57%

    Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 4140%

    Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1451%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1451%

    Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.0%

    High stock price volatility
    Vol 12M is 123%

    Key risks
    IBO key risks include [1] a precarious financial position with negative equity and substantial debt, Show more.

    0 Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 400%
    1 Valuation becoming less expensive
    P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
    2 Megatrend and thematic drivers
    Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
    3 Weak multi-year price returns
    2Y Excs Rtn is -109%, 3Y Excs Rtn is -171%
    4 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -5.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14563%
    5 Expensive valuation multiples
    P/SPrice/Sales ratio is 1,037x, P/EPrice/Earnings or Price/(Net Income) is 46x
    6 Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -57%
    7 Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 4140%
    8 Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1451%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1451%
    9 Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.0%
    10 High stock price volatility
    Vol 12M is 123%
    11 Key risks
    IBO key risks include [1] a precarious financial position with negative equity and substantial debt, Show more.

    Valuation & Metrics

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    IBOS&P 500
    REVENUE GROWTH 
    Rev LTM ($ Bil)0.0
    Rev Chg Q-57.1%9.3%
    Rev Chg LTM400.0%8.3%
    Rev Chg 3Y Avg400.0%5.9%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.0
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)0.0
    Op Mgn LTM-14,562.9%18.5%
    CFO/Rev LTM-1,451.4%21.9%
    Net Inc Mgn2,254.3%13.3%
    VALUATIONVERY HIGH
    P/S1,057.03.1
    P/CFO-72.814.7
    P/FCF-72.819.0
    P/E46.921.9
    STABILITYFAIR
    Debt/Equity0.000.21
    Cash/Assets0.000.07

    AI Analysis | Feedback

    MetricValueDateSource
    Number of Issued Worldwide Patents6911072025Link
    Number of Pending Worldwide Patents6011072025Link
    Number of Technology Platforms511072025Link
    Number of Pre-Clinical Studies211192024Link
    Number of Strategic Partnerships and Acquisitions36232025Link

    Price Chart

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    Recent
    9/23/2026Stock SplitRatio: 50-for-631

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/8/2026

    Impact BioMedical (IBO) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Reverse Stock Split and Merger Uncertainty.

    Impact BioMedical implemented a 1-for-12.62 reverse stock split effective September 23, 2026, reducing outstanding shares from approximately 107.8 million to about 8.54 million. This action was taken in connection with a proposed merger with Zoar Limited (f/k/a Dr. Ashley's Limited). The company explicitly stated that the reverse split and related actions do not guarantee NYSE American continued-listing compliance or the completion of the merger, contributing to investor uncertainty regarding the company's future and listing status.

    2. Ongoing Financial Concerns and "Going Concern" Qualification.

    Impact BioMedical has continued to report significant financial losses, including a net income of -$699k for fiscal Q2 2026, which ended on June 30, 2026, representing a 69.4% decrease from the prior quarter. This follows a "going concern" qualification in its annual 10-K report for the fiscal year ended December 31, 2025 (filed March 11, 2026), indicating substantial doubt about the company's ability to continue operations, which has likely continued to weigh on investor confidence during the specified period.

    Show more
    Updated on 10/8/2026

    Impact BioMedical (IBO) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Reverse Stock Split and Merger Uncertainty.

    Impact BioMedical implemented a 1-for-12.62 reverse stock split effective September 23, 2026, reducing outstanding shares from approximately 107.8 million to about 8.54 million. This action was taken in connection with a proposed merger with Zoar Limited (f/k/a Dr. Ashley's Limited). The company explicitly stated that the reverse split and related actions do not guarantee NYSE American continued-listing compliance or the completion of the merger, contributing to investor uncertainty regarding the company's future and listing status.

    2. Ongoing Financial Concerns and "Going Concern" Qualification.

    Impact BioMedical has continued to report significant financial losses, including a net income of -$699k for fiscal Q2 2026, which ended on June 30, 2026, representing a 69.4% decrease from the prior quarter. This follows a "going concern" qualification in its annual 10-K report for the fiscal year ended December 31, 2025 (filed March 11, 2026), indicating substantial doubt about the company's ability to continue operations, which has likely continued to weigh on investor confidence during the specified period.

    3. Negative Market Sentiment and Analyst Outlook.

    The stock has faced strong negative sentiment from market analysts and prediction platforms. WalletInvestor.com, as of October 2, 2026, issued a "Strong Sell" signal for IBO, projecting a 50.54% decrease over the next year and a long-term price prognosis of $0.5124 by October 2, 2031. Similarly, TradingView reported a -23.24% fall in the stock price over the month prior to October 6, 2026, and indicated a "strong sell" signal for its 1-month rating, reflecting a broadly bearish outlook among investors and market predictors.

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    Stock Movement Drivers

    Fundamental Drivers

    The -26.8% change in IBO stock from 6/30/2026 to 10/10/2026 was primarily driven by a -18.4% change in the company's P/S Multiple.
    (LTM values as of)630202610102026Change
    Stock Price ($)5.814.25-26.8%
    Change Contribution By: 
    Total Revenues ($ Mil)00-10.3%
    P/S Multiple1,271.31,037.4-18.4%
    Shares Outstanding (Mil)990.0%
    Cumulative Contribution-26.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/10/2026
    ReturnCorrelation
    IBO-26.8% 
    Market (SPY)4.3%6.7%
    Sector (XLV)7.7%-7.2%

    Fundamental Drivers

    The -43.9% change in IBO stock from 3/31/2026 to 10/10/2026 was primarily driven by a -47.1% change in the company's P/S Multiple.
    (LTM values as of)331202610102026Change
    Stock Price ($)7.574.25-43.9%
    Change Contribution By: 
    Total Revenues ($ Mil)009.4%
    P/S Multiple1,961.61,037.4-47.1%
    Shares Outstanding (Mil)89-3.0%
    Cumulative Contribution-43.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/10/2026
    ReturnCorrelation
    IBO-43.9% 
    Market (SPY)20.0%-1.1%
    Sector (XLV)17.0%4.5%

    Fundamental Drivers

    The -49.3% change in IBO stock from 9/30/2025 to 10/10/2026 was primarily driven by a -88.7% change in the company's Shares Outstanding (Mil).
    (LTM values as of)930202510102026Change
    Stock Price ($)8.394.25-49.3%
    Change Contribution By: 
    Total Revenues ($ Mil)00400.0%
    P/S Multiple1,157.31,037.4-10.4%
    Shares Outstanding (Mil)19-88.7%
    Cumulative Contribution-49.3%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/10/2026
    ReturnCorrelation
    IBO-49.3% 
    Market (SPY)17.8%-6.9%
    Sector (XLV)24.3%-8.7%

    Fundamental Drivers

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    Market Drivers

    9/30/2023 to 10/10/2026
    ReturnCorrelation
    IBO  
    Market (SPY)88.4%-3.7%
    Sector (XLV)38.9%-5.5%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    IBO Return----46%-65%-36%-88%
    Peers Return2%-0%-40%-18%-49%-23%-80%
    S&P 500 Return27%-19%24%23%16%13%107%

    Monthly Win Rates [3]
    IBO Win Rate---50%42%30% 
    Peers Win Rate42%44%30%42%42%44% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    IBO Max Drawdown-----93%-58% 
    Peers Max Drawdown-53%-58%-63%-54%-71%-50% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: VERU, DARE, PLRX, IXHL, ABBV.
    [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 10/9/2026 (YTD)

    About Impact BioMedical (IBO)

    Impact BioMedical (IBO) is a holding company that focuses on discovering, confirming, and patenting unique scientific technologies. Operating primarily through its majority-owned subsidiaries such as Global BioLife, Inc., the company's core business revolves around funding research and developing an intellectual property portfolio. IBIO aims to translate these scientific advancements into new offerings across human healthcare, wellness, and biopharmaceutical sectors.

    The company's research and development efforts are concentrated in three primary areas: the creation of a universal therapeutic drug platform, the development of a new sugar substitute, and a multi-use fragrance. These patented technologies are designed to provide advances in biopharmaceuticals for the prevention, inhibition, and treatment of neurological, oncology, and immuno-related diseases, as well as over-the-counter direct-to-consumer wellness offerings.

    IBIO's business model emphasizes strategic partnerships for commercialization and distribution. The company primarily targets pharmaceutical and consumer packaged goods companies as potential licensors and development partners. These external partners would commercialize IBIO's technologies through licensing, co-development, or joint ventures, providing milestone and royalty payments in exchange for bringing IBIO's innovative, patented science to market.

    AI Analysis | Feedback

    Here are 1-2 brief analogies for Impact BioMedical (IBO):

    • IBO is like a 'scientific invention factory' that patents new drug platforms, sweeteners, and fragrances, then licenses these discoveries to larger companies, similar to how Arm Holdings licenses its chip designs to many manufacturers.
    • Think of IBO as a 'discovery engine' for novel ingredients and therapeutic platforms, aiming to license its patented science to pharmaceutical and consumer goods giants, much like a specialized biotech startup develops a drug candidate for a larger pharma partner.

    AI Analysis | Feedback

    • Universal Therapeutic Drug Platform: A platform focused on discovering and developing therapeutic drugs for neurological, oncology, and immuno-related diseases.
    • New Sugar Substitute: A novel sweetening product developed by its subsidiary, Sweet Sense, Inc.
    • Multi-use Fragrance: A distinct and versatile fragrance product.
    • Intellectual Property Licensing and Partnerships: Offering its patented science and technologies for commercialization by external pharmaceutical and consumer packaged goods companies in exchange for milestone and royalty payments.

    AI Analysis | Feedback

    Impact BioMedical (IBO) primarily operates as a holding company focused on discovering, confirming, and patenting unique science and technologies. Its business model revolves around collaborating with external partners through licensing, co-development, joint ventures, and other relationships for the commercialization and distribution of its intellectual property.

    The company does not name specific major customers. Instead, it identifies the types of companies it seeks to partner with as potential licensors and development partners. These categories of customer companies include:

    • Pharmaceutical companies
    • Consumer packaged goods (CPG) companies

    These partners would commercialize IBIO technologies in exchange for milestone and royalty licensing payments. While the company mentions "direct to consumer wellness offerings," its stated model indicates that these are brought to market through strategic partnerships and licensing arrangements with other companies, rather than through direct sales from IBIO itself to individual consumers.

    AI Analysis | Feedback

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    AI Analysis | Feedback

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    Frank D. Heuszel – Chairman & Chief Executive Officer

    Mr. Heuszel serves as the Chairman and Chief Executive Officer of Impact BioMedical Inc. He joined DSS, Inc., which is identified as Impact BioMedical's parent company, as CEO in 2019. His background encompasses executive leadership, finance, and strategic planning. Mr. Heuszel holds a Business Administration degree and a J.D., bringing both legal expertise and business acumen to his roles.

    Todd D. Macko – Chief Financial Officer, Secretary & Treasurer

    Mr. Macko holds the positions of Chief Financial Officer, Secretary, and Treasurer at Impact BioMedical Inc. He has over 25 years of experience in financial management. Mr. Macko became CFO of DSS Inc. in May 2023 and continues to serve in this capacity for Impact BioMedical. His expertise includes financial planning and analysis, business process engineering, and mergers and acquisitions. He is a C.P.A.

    Mark J. Suseck – Chief Operating Officer

    Mr. Suseck is the Chief Operating Officer of Impact BioMedical Inc., having joined the company in August 2023. Previously, he served as COO of DSS BioHealth Holdings Inc. and as CEO of Vivacitas Oncology Inc. His experience covers company strategy, operations, licensing, acquisitions, and commercialization. Mr. Suseck holds an undergraduate degree in economics and has completed the Executive Management Program at the University of Michigan Business School.

    ```

    AI Analysis | Feedback

    The key risks for Impact BioMedical (IBO) primarily stem from its business model centered on research and development, intellectual property, and reliance on external partnerships for commercialization.

    1. High Research & Development (R&D) and Intellectual Property (IP) Commercialization Risk: Impact BioMedical's core business involves discovering, confirming, and patenting unique science and technologies in areas such as a universal therapeutic drug platform, a new sugar substitute, and a multi-use fragrance. This model is inherently risky due to the high costs, long timelines, and uncertainty associated with successful R&D. There is no guarantee that their research will yield viable or patentable technologies, or that any patented IP will be attractive to commercial partners.
    2. Significant Reliance on External Partnerships for Commercialization: The company's business model explicitly states that it aims to develop new offerings in collaboration with external partners through licensing, co-development, joint ventures, and other relationships. This means Impact BioMedical is heavily dependent on the willingness and ability of pharmaceutical, consumer packaged goods companies, and other potential licensors and development partners to commercialize its technologies. Failure to secure suitable partners or unfavorable terms in such agreements could severely hinder its ability to generate revenue from milestone and royalty payments.
    3. Early-Stage Company with Undetermined Commercial Success and Revenue Streams: Based on the description, Impact BioMedical primarily focuses on funding research and developing intellectual property, with its subsidiaries being incorporated between 2017 and 2020. The company emphasizes "new offerings" and "advances," suggesting it is in the early stages of bringing products to market. There is no indication of existing commercialized products or established direct sales operations, making its future revenue generation and ultimate commercial success highly uncertain.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    For Impact BioMedical (IBO), the addressable markets for their main products and services are estimated as follows:

    Universal Therapeutic Drug Platform (Biopharmaceuticals, Neurological, Oncology, and Immuno-related Diseases)

    • The global biopharmaceutical market size was estimated at USD 537.54 billion in 2025 and is predicted to increase to approximately USD 1,983.73 billion by 2035, exhibiting a Compound Annual Growth Rate (CAGR) of 13.95% from 2026 to 2035.
    • The global oncology drugs market size was valued at USD 190.10 billion in 2023 and is anticipated to exceed USD 564.50 billion by 2033, growing at a CAGR of 11.50% from 2023 to 2033.
    • The global central nervous system (CNS) therapeutics market size was estimated at USD 138.59 billion in 2025 and is projected to reach USD 273.32 billion by 2033, growing at a CAGR of 9.1% from 2026 to 2033.
    • The global immunotherapy drugs market size was estimated at USD 285.73 billion in 2025 and is expected to reach USD 675.98 billion by 2033, growing at a CAGR of 11.41% from 2026 to 2033.

    New Sugar Substitute

    • The global sugar substitutes market size was valued at USD 9.5 billion in 2025 and is projected to grow from USD 10.19 billion in 2026 to USD 20.27 billion by 2034, exhibiting a CAGR of 8.98% during the forecast period.

    Multi-use Fragrance

    • The global fragrance market size was estimated at USD 58.89 billion in 2025 and is projected to reach USD 89.41 billion by 2033, growing at a CAGR of 5.5% from 2026 to 2033.

    AI Analysis | Feedback

    Impact BioMedical (IBO) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from the commercialization of its intellectual property and strategic partnerships. Here are the expected drivers of future revenue growth: * **Licensing and Royalty Payments from its Intellectual Property Portfolio:** Impact BioMedical's core business model revolves around discovering, confirming, and patenting unique science and technologies. With an expanding intellectual property portfolio, including 69 issued patents and over 60 pending patents worldwide (with new allowances for Laetose and 3F in the U.S. and Europe), the company aims to generate revenue through milestone and royalty payments from licensing agreements with external partners. The Laetose and 3F platforms, for instance, are identified as ready for immediate partnering, with the potential to generate licensing and royalty revenue starting in 2025. * **Commercialization of Pipeline Products through Partnerships:** The company is actively developing several proprietary technologies, including Linebacker, Laetose, 3F (Functional Fragrance), and Equivir. These platforms are being advanced for applications in biopharmaceuticals, anti-inflammatory and metabolic diseases, antiviral treatments, and natural insect repellents. Impact BioMedical's strategy involves leveraging partnerships for the development, registration, and commercialization of these product candidates, which is expected to lead to revenue generation. * **Sales from the Recently Acquired Celios Air Purification Technology:** In 2025, Impact BioMedical acquired Celios air purification technology. While initial revenue from Celios in 2025 was modest, this acquisition introduces an existing product line with direct sales potential, focusing on patented filtration solutions to improve indoor air quality. * **Strategic Merger with Dr. Ashleys Limited:** A definitive reverse merger agreement with Dr. Ashleys Limited is in place, with an extended deadline to July 2026. This merger is intended to combine Dr. Ashleys' global pharmaceutical manufacturing capabilities with Impact BioMedical's patent portfolio. This strategic move is expected to provide a more robust infrastructure for the commercialization of Impact BioMedical's technologies, thereby contributing to future revenue growth.

    AI Analysis | Feedback

    Share Issuance

    • Impact BioMedical successfully completed its Initial Public Offering (IPO) on September 16, 2024, raising $4.5 million through the issuance of 1.5 million shares at $3.00 per share.
    • In 2025, approximately $15,000,000 of principal and interest owed to DSS was converted into 31,939,778 common shares.
    • As part of the amended merger agreement with Dr Ashleys Bio Labs Limited in early 2026, the combined entity is set to issue 169,560,000 ordinary shares to Impact BioMedical shareholders, representing 94.20% of the combined company's outstanding shares at closing.

    Inbound Investments

    • The company raised $4.5 million in capital from its Initial Public Offering (IPO) in September 2024.

    Capital Expenditures

    • Impact BioMedical, Inc. invested $52,000 in research and development during the third quarter of 2025.

    Peer Outperformance in Biotechnology

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    Share of Biotechnology constituents that IBO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    32%
    of 454 industry peers · -45.3% return
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
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    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is IBO's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 13.0%45.5%92.4% CAH 440% · MCK 377% · COR 179%
    Health Care Services 20 22.6%34.2%13.0% HIMS 313% · RDNT 161% · DGX 81%
    Managed Health Care 8 37.5%-6.1%6.4% OSCR 136% · HQY 43% · ELV 17%
    Health Care Facilities 24 1.7%8.7%5.4% THC 325% · NHC 277% · ENSG 143%
    Health Care Equipment 50 -2.8%0.5%-15.7% POCI 11350% · UFPT 359% · GKOS 271%
    Pharmaceuticals 62 -7.3%-3.2%-29.4% INDV 1102% · ETON 1009% · LQDA 792%
    Health Care Supplies 12 30.5%-8.0%-35.0% LNTH 332% · HAE 78% · MMSI 22%
    Life Sciences Tools & Services 109 -8.6%-10.1%-63.2% SNWV 2194% · NTRA 259% · MEDP 232%
    Biotechnology ← 364 -17.4%-25.3%-79.7% DNTH 1102% · CELZ 1098% · ELVN 953%
    Health Care Technology 21 -27.9%-59.5%-82.0% SPOK 78% · HSTM 19% · VEEV 4%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    Peer Comparisons

    Peers to compare with:

    Financials

    IBOVERUDAREPLRXIXHLABBVMedian
    NameImpact B.Veru Dare Bio.Pliant T.Incannex.AbbVie  
    Mkt Price4.332.470.771.033.11276.472.79
    Mkt Cap0.00.10.00.10.0489.10.0
    Rev LTM0010064,3860
    Op Inc LTM-5-28-11-97-1821,850-15
    FCF LTM-1-26-12-71-1318,210-12
    FCF 3Y Avg-2-27-12-127-1418,076-13
    CFO LTM-1-26-11-71-1319,507-12
    CFO 3Y Avg-2-27-11-126-1419,143-12

    Growth & Margins

    IBOVERUDAREPLRXIXHLABBVMedian
    NameImpact B.Veru Dare Bio.Pliant T.Incannex.AbbVie  
    Rev Chg LTM400.0%-7,816.7%--100.0%10.4%205.2%
    Rev Chg 3Y Avg-----4.9%4.9%
    Rev Chg Q-57.1%-985.8%--10.2%10.2%
    QoQ Delta Rev Chg LTM-10.3%-18.0%--2.5%2.5%
    Op Inc Chg LTM-22.4%26.0%39.9%55.7%16.6%59.5%33.0%
    Op Inc Chg 3Y Avg-11.5%32.1%35.1%6.3%-11.2%11.2%
    Op Mgn LTM-14,562.9%--813.4%--33.9%-813.4%
    Op Mgn 3Y Avg-----27.5%27.5%
    QoQ Delta Op Mgn LTM-337.2%-221.0%--0.8%0.8%
    CFO/Rev LTM-1,451.4%--826.8%--30.3%-826.8%
    CFO/Rev 3Y Avg-----32.4%32.4%
    FCF/Rev LTM-1,451.4%--854.7%--28.3%-854.7%
    FCF/Rev 3Y Avg-----30.6%30.6%

    Valuation

    IBOVERUDAREPLRXIXHLABBVMedian
    NameImpact B.Veru Dare Bio.Pliant T.Incannex.AbbVie  
    Mkt Cap0.00.10.00.10.0489.10.0
    P/S1,057.0-8.4--7.68.4
    P/Op Inc-7.3-2.0-1.0-0.7-2.122.4-1.5
    P/EBIT-24.0-2.0-1.0-0.7-2.042.1-1.5
    P/E46.9-4.2-1.0-0.7-2.077.5-0.9
    P/CFO-72.8-2.2-1.0-0.9-3.025.1-1.6
    Total Yield2.2%-24.0%-95.8%-146.1%-50.7%3.7%-37.4%
    Dividend Yield0.0%0.0%0.0%0.0%0.0%2.4%0.0%
    FCF Yield 3Y Avg--198.6%-65.9%-120.6%-30.0%4.5%-65.9%
    D/E0.00.00.10.50.00.10.1
    Net D/E-0.0-0.4-1.0-2.0-1.80.1-0.7

    Returns

    IBOVERUDAREPLRXIXHLABBVMedian
    NameImpact B.Veru Dare Bio.Pliant T.Incannex.AbbVie  
    1M Rtn-22.2%-1.2%9.2%-8.8%-4.3%8.4%-2.8%
    3M Rtn-22.4%-11.2%-61.9%-8.0%-8.3%12.2%-9.7%
    6M Rtn-50.1%3.8%-57.9%-19.5%-0.3%35.0%-9.9%
    12M Rtn-44.3%-37.2%-63.7%-29.9%-73.5%23.7%-40.7%
    3Y Rtn-87.2%-69.5%-86.1%-93.6%-98.7%105.3%-86.6%
    1M Excs Rtn-25.1%-4.1%6.3%-11.8%-7.2%5.5%-5.7%
    3M Excs Rtn-29.9%-7.5%-67.1%-13.6%-10.0%8.3%-11.8%
    6M Excs Rtn-65.0%-10.9%-72.5%-34.3%-15.0%20.4%-24.6%
    12M Excs Rtn-60.4%-59.7%-82.0%-48.5%-91.7%7.6%-60.1%
    3Y Excs Rtn-172.0%-150.1%-168.9%-177.8%-182.2%24.4%-170.4%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/7/20265/12/20263/11/202611/7/20258/14/20255/14/20253/28/202511/12/20249/17/20246/11/20249/17/202411/13/2023
    Key Financials Quarterly            
    Total Revenue000000000000
    Ebitda-0-23-1-14-1-275-0-0-1-1
    Operating Income-1-2-1-1-1-1-1-1-1-1-1-1
    Net Income-1-25-1-14-1-274-1-1-1-1
    EPS-0.13-0.250.63-1.51-14.89-1.39-31.934.67-0.98-1.06-1.36-1.28
    Key Financials TTM            
    Total Revenue TTM000000000000
    Ebitda TTM-0-14-13-42-36-23-233-2-3-3-7
    Operating Income TTM-5-6-4-4-4-4-3-4-4-4-4-4
    Net Income TTM1-13-12-44-38-25-251-4-4-4-6
    Growth Rates Quarterly            
    Total Revenue Growth-57.1%-----------
    EBITDA Growth97.0%-176.1%111.1%-119.2%-3912.8%-48.4%-3001.8%707.2%52.6%-4.3%82.4%-31.0%
    Operating Income Growth39.1%-126.6%-32.3%15.9%-84.2%-31.0%23.2%-4.5%37.9%4.0%-10.4%-21.3%
    Net Income Growth95.1%-80.5%119.3%-134.6%-1513.7%-31.7%-2095.0%465.5%19.3%-46.4%63.3%46.4%
    Margins Quarterly            
    EBITDA Margin-13866.7%-28557.1%42014.3%-5138.9%-197200.0%-------
    Operating Income Margin-23400.0%-32700.0%-16542.9%-5266.7%-16471.4%-------
    Net Income Margin-23300.0%-32671.4%74928.6%-8166.7%-204942.9%-------
    Cash & Debt            
    Total Cash000011230000
    Total Debt000232299813131212
    Net Debt / (Cash)-0-0-0232287513131212
    Cash Flows Quarterly            
    FCF from Operations0-00-1-1-1-1-1-0-0-0-1
    Cash Flows TTM            
    FCF from Operations TTM-1-2-2-3-3-3-3-2-2-2-3-3
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-4.4%-14.5%-7.5%-5.8%-7.1%-8.0%-7.2%-9.5%-4.8%-6.1%-9.1%-8.7%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-8.1%-7.3%-5.6%-6.1%-6.4%-7.2%-7.0%-7.8%-7.0%-7.8%-8.0%-6.1%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Single Segment00000
    Total00000


    Assets by Segment
    $ Mil20252024202320222021
    Single Segment1720454656
    Total1720454656


    Price Behavior

    Price Behavior
    Market Price$4.25 
    Market Cap ($ Bil)0.0 
    First Trading Date09/16/2024 
    Distance from 52W High-56.8% 
       50 Days200 Days
    DMA Price$5.77$6.47
    DMA Trendindeterminateindeterminate
    Distance from DMA-26.3%-34.3%
     3M1YR
    Volatility80.6%123.5%
    Downside Capture163.64-19.94
    Upside Capture-6.09-84.66
    Correlation (SPY)4.4%-7.1%
    IBO Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta1.800.880.58-0.07-0.65-0.16
    Up Beta-5.790.800.920.340.78-1.40
    Down Beta-2.01-1.38-0.80-0.93-1.97-0.14
    Up Capture334%121%65%-24%-34%-5%
    Bmk +ve Days6162766132424
    Stock +ve Days9212854109229
    Down Capture257%112%98%52%-48%22%
    Bmk -ve Days16263760120328
    Stock -ve Days12203162133269

    [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 IBO
    IBO-45.6%123.0%-0.02-
    Sector ETF (XLV)19.8%15.8%0.94-8.3%
    Equity (SPY)16.7%13.0%0.91-7.0%
    Gold (GLD)3.3%29.5%0.11-6.6%
    Commodities (DBC)45.0%20.9%1.679.5%
    Real Estate (VNQ)4.8%13.8%0.09-18.3%
    Bitcoin (BTCUSD)-33.2%44.2%-0.79-0.2%

    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 IBO
    IBO-34.0%372.8%0.61-
    Sector ETF (XLV)7.7%15.2%0.31-5.5%
    Equity (SPY)13.9%17.1%0.62-3.7%
    Gold (GLD)18.5%18.9%0.79-2.6%
    Commodities (DBC)10.0%19.5%0.39-11.1%
    Real Estate (VNQ)1.3%18.8%-0.04-3.5%
    Bitcoin (BTCUSD)11.4%52.0%0.390.1%

    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 IBO
    IBO-18.7%372.8%0.61-
    Sector ETF (XLV)11.0%16.7%0.53-5.5%
    Equity (SPY)15.5%17.9%0.73-3.7%
    Gold (GLD)11.8%16.4%0.59-2.6%
    Commodities (DBC)8.2%18.1%0.37-11.1%
    Real Estate (VNQ)4.5%20.7%0.18-3.5%
    Bitcoin (BTCUSD)63.5%66.2%1.030.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date9302026
    Short Interest: Shares Quantity0.0 Mil
    Short Interest: % Change Since 9152026-94.3%
    Average Daily Volume0.0 Mil
    Days-to-Cover Short Interest2.0 days
    Basic Shares Quantity8.5 Mil
    Short % of Basic Shares0.4%

    Returns Analyses

    Earnings Returns History

    Updated 6/3/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    SUMMARY STATS   
    # Positive000
    # Negative000
    Median Positive   
    Median Negative   
    Max Positive   
    Max Negative   
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    SUMMARY STATS   
    # Positive000
    # Negative000
    Median Positive   
    Median Negative   
    Max Positive   
    Max Negative   

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/12/202610-Q
    12/31/202503/11/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/14/202510-Q
    12/31/202403/28/202510-K
    09/30/202411/12/202410-Q
    06/30/202409/17/2024424B4
    03/31/202406/11/2024S-1/A
    09/30/202311/13/202310-Q
    06/30/202310/05/202310-Q
    03/31/202308/01/2023S-1/A
    09/30/202201/31/2023S-1/A
    03/31/202208/24/2022S-1/A
    06/30/202109/29/2021S-1/A
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/12/202610-Q
    12/31/202503/11/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/14/202510-Q
    12/31/202403/28/202510-K
    09/30/202411/12/202410-Q
    06/30/202409/17/2024424B4
    03/31/202406/11/2024S-1/A
    09/30/202311/13/202310-Q
    06/30/202310/05/202310-Q
    03/31/202308/01/2023S-1/A
    09/30/202201/31/2023S-1/A
    03/31/202208/24/2022S-1/A
    06/30/202109/29/2021S-1/A
    09/30/202002/12/2021S-1

    Insider Activity

    Updated 9/24/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Dss,, Inc.DirectSell92420267.061561,1014,161,231Form
    2Dss,, Inc.DirectSell92420266.95271884,098,234Form
    3Dss,, Inc.DirectSell92420260.55723398324,336Form
    4MacKo, Todd DChief Financial OfficerDirectSell33020260.5643,40024,36987,101Form
    5MacKo, Todd DChief Financial OfficerDirectSell33020260.601,600961119,032Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Dss,, Inc.DirectSell92420267.061561,1014,161,231Form
    2Dss,, Inc.DirectSell92420266.95271884,098,234Form
    3Dss,, Inc.DirectSell92420260.55723398324,336Form
    4MacKo, Todd DChief Financial OfficerDirectSell33020260.5643,40024,36987,101Form
    5MacKo, Todd DChief Financial OfficerDirectSell33020260.601,600961119,032Form
    6Grady, JasonDirectSell32520260.6550,00032,505162,643Form
    7Dss,, Inc.DirectSell10620260.5445,40024,530294,476Form
    8Dss,, Inc.DirectSell10620260.55115,60063,476324,202Form

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 10/10/2026