Stablecoin Development (SDEV)
Market Price (7/3/2026): $1.32 | Market Cap: $34.3 MilSector: Financials | Industry: Asset Management & Custody Banks
Stablecoin Development (SDEV)
Market Price (7/3/2026): $1.32Market Cap: $34.3 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50% Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Stablecoin Development. | Weak multi-year price returns2Y Excs Rtn is -120%, 3Y Excs Rtn is -169% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -214% Expensive valuation multiplesP/SPrice/Sales ratio is 14x Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -362%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -362% 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 -248% High stock price volatilityVol 12M is 246% Key risksSDEV key risks include [1] significant financial losses from price fluctuations in its holdings concentrated in the SKY token and [2] technological vulnerabilities, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Stablecoin Development. |
| Weak multi-year price returns2Y Excs Rtn is -120%, 3Y Excs Rtn is -169% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -214% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 14x |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -362%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -362% |
| 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 -248% |
| High stock price volatilityVol 12M is 246% |
| Key risksSDEV key risks include [1] significant financial losses from price fluctuations in its holdings concentrated in the SKY token and [2] technological vulnerabilities, Show more. |
Qualitative Assessment
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Updated on 7/2/2026
Stablecoin Development (SDEV) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Contraction in the Broader Yield Stablecoin Market.
Stablecoin Development (SDEV) experienced headwinds from a significant contraction in the broader yield stablecoin market during fiscal Q2 2026 (April 1 to June 30, 2026). The total stablecoin supply decreased by over $3.5 billion in Q2 2026, marking the first quarterly decline in nearly three years. Specifically, crypto-native yield stablecoins, including Sky's sUSDS—a core holding for SDEV—saw a 16% reduction in supply. This broader market downturn exerted downward pressure on SDEV's stock, given the company's strategic repositioning and focus on the stablecoin ecosystem and Sky protocol.
2. Misleading Nature of Fiscal Q1 2026 Net Income.
Despite reporting a GAAP net income of $552.4 million for fiscal Q1 2026 (ended March 31, 2026), this figure was largely attributed to significant non-cash warrant-related gains and other one-time items, rather than sustained operational revenue. The actual reported revenue for Q1 2026 was considerably lower, at $2.46 million or $25.14 million. This discrepancy between the headline net income and the company's fundamental operational performance likely led investors to reassess SDEV's valuation and long-term viability, contributing to the stock's decline.
Show more
Stablecoin Development (SDEV) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Contraction in the Broader Yield Stablecoin Market.
Stablecoin Development (SDEV) experienced headwinds from a significant contraction in the broader yield stablecoin market during fiscal Q2 2026 (April 1 to June 30, 2026). The total stablecoin supply decreased by over $3.5 billion in Q2 2026, marking the first quarterly decline in nearly three years. Specifically, crypto-native yield stablecoins, including Sky's sUSDS—a core holding for SDEV—saw a 16% reduction in supply. This broader market downturn exerted downward pressure on SDEV's stock, given the company's strategic repositioning and focus on the stablecoin ecosystem and Sky protocol.
2. Misleading Nature of Fiscal Q1 2026 Net Income.
Despite reporting a GAAP net income of $552.4 million for fiscal Q1 2026 (ended March 31, 2026), this figure was largely attributed to significant non-cash warrant-related gains and other one-time items, rather than sustained operational revenue. The actual reported revenue for Q1 2026 was considerably lower, at $2.46 million or $25.14 million. This discrepancy between the headline net income and the company's fundamental operational performance likely led investors to reassess SDEV's valuation and long-term viability, contributing to the stock's decline.
Show more
Updated on 7/2/2026
Stablecoin Development (SDEV) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Contraction in the Broader Yield Stablecoin Market.
Stablecoin Development (SDEV) experienced headwinds from a significant contraction in the broader yield stablecoin market during fiscal Q2 2026 (April 1 to June 30, 2026). The total stablecoin supply decreased by over $3.5 billion in Q2 2026, marking the first quarterly decline in nearly three years. Specifically, crypto-native yield stablecoins, including Sky's sUSDS—a core holding for SDEV—saw a 16% reduction in supply. This broader market downturn exerted downward pressure on SDEV's stock, given the company's strategic repositioning and focus on the stablecoin ecosystem and Sky protocol.
2. Misleading Nature of Fiscal Q1 2026 Net Income.
Despite reporting a GAAP net income of $552.4 million for fiscal Q1 2026 (ended March 31, 2026), this figure was largely attributed to significant non-cash warrant-related gains and other one-time items, rather than sustained operational revenue. The actual reported revenue for Q1 2026 was considerably lower, at $2.46 million or $25.14 million. This discrepancy between the headline net income and the company's fundamental operational performance likely led investors to reassess SDEV's valuation and long-term viability, contributing to the stock's decline.
3. Deteriorating Technical Sentiment and Short-Term Downtrend.
Throughout fiscal Q2 2026, Stablecoin Development's stock exhibited bearish technical indicators and established a clear short-term downtrend. The stock moved below its 50-day moving average on May 21, 2026, and its 10-day moving average crossed bearishly below the 50-day moving average on May 28, 2026. After a temporary spike near $1.50, the stock faded to trade closer to the $1.04-$1.05 range by early July 2026. This reflected a negative shift in investor sentiment and momentum, with the stock decreasing 14.05% in June alone.
Show less
Stablecoin Development (SDEV) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Contraction in the Broader Yield Stablecoin Market.
Stablecoin Development (SDEV) experienced headwinds from a significant contraction in the broader yield stablecoin market during fiscal Q2 2026 (April 1 to June 30, 2026). The total stablecoin supply decreased by over $3.5 billion in Q2 2026, marking the first quarterly decline in nearly three years. Specifically, crypto-native yield stablecoins, including Sky's sUSDS—a core holding for SDEV—saw a 16% reduction in supply. This broader market downturn exerted downward pressure on SDEV's stock, given the company's strategic repositioning and focus on the stablecoin ecosystem and Sky protocol.
2. Misleading Nature of Fiscal Q1 2026 Net Income.
Despite reporting a GAAP net income of $552.4 million for fiscal Q1 2026 (ended March 31, 2026), this figure was largely attributed to significant non-cash warrant-related gains and other one-time items, rather than sustained operational revenue. The actual reported revenue for Q1 2026 was considerably lower, at $2.46 million or $25.14 million. This discrepancy between the headline net income and the company's fundamental operational performance likely led investors to reassess SDEV's valuation and long-term viability, contributing to the stock's decline.
3. Deteriorating Technical Sentiment and Short-Term Downtrend.
Throughout fiscal Q2 2026, Stablecoin Development's stock exhibited bearish technical indicators and established a clear short-term downtrend. The stock moved below its 50-day moving average on May 21, 2026, and its 10-day moving average crossed bearishly below the 50-day moving average on May 28, 2026. After a temporary spike near $1.50, the stock faded to trade closer to the $1.04-$1.05 range by early July 2026. This reflected a negative shift in investor sentiment and momentum, with the stock decreasing 14.05% in June alone.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -8.7% change in SDEV stock from 3/31/2026 to 7/2/2026 was primarily driven by a null change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.49 | 1.36 | -8.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 2 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 14.4 | |
| Shares Outstanding (Mil) | 1 | 26 | -95.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 7/2/2026| Return | Correlation | |
|---|---|---|
| SDEV | -8.7% | |
| Market (SPY) | 14.5% | 11.5% |
| Sector (XLF) | 12.7% | 7.9% |
Fundamental Drivers
The -95.2% change in SDEV stock from 12/31/2025 to 7/2/2026 was primarily driven by a -95.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 12312025 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.20 | 1.36 | -95.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1 | 2 | 372.7% |
| P/S Multiple | 63.6 | 14.4 | -77.4% |
| Shares Outstanding (Mil) | 1 | 26 | -95.5% |
| Cumulative Contribution | -95.2% |
Market Drivers
12/31/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| SDEV | -95.2% | |
| Market (SPY) | 9.5% | 21.3% |
| Sector (XLF) | 2.1% | 17.6% |
Fundamental Drivers
The -29.1% change in SDEV stock from 6/30/2025 to 7/2/2026 was primarily driven by a null change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.92 | 1.36 | -29.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 2 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 14.4 | |
| Shares Outstanding (Mil) | 1 | 26 | -95.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| SDEV | -29.1% | |
| Market (SPY) | 21.6% | 14.6% |
| Sector (XLF) | 7.5% | 14.2% |
Fundamental Drivers
The -98.4% change in SDEV stock from 6/30/2023 to 7/2/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302023 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.01 | 1.36 | -98.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 2 | -81.7% |
| P/S Multiple | 0.1 | 14.4 | 19023.9% |
| Shares Outstanding (Mil) | 0 | 26 | -100.0% |
| Cumulative Contribution | -98.4% |
Market Drivers
6/30/2023 to 7/2/2026| Return | Correlation | |
|---|---|---|
| SDEV | -98.4% | |
| Market (SPY) | 74.0% | 9.1% |
| Sector (XLF) | 72.4% | 4.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SDEV Return | -46% | -85% | -90% | -92% | 1320% | -96% | -100% |
| Peers Return | -27% | -72% | 130% | 55% | 20% | -19% | -29% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| SDEV Win Rate | 25% | 17% | 17% | 25% | 50% | 29% | |
| Peers Win Rate | 40% | 33% | 56% | 48% | 50% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| SDEV Max Drawdown | -74% | -91% | -92% | -95% | -69% | -99% | |
| Peers Max Drawdown | -61% | -75% | -50% | -46% | -53% | -50% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COIN, CRCL, PYPL, HOOD, BKKT.
[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 7/2/2026 (YTD)
How Low Can It Go
| Event | SDEV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.5% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -82.1% | -7.8% |
| % Gain to Breakeven | 457.9% | 8.5% |
| Time to Breakeven | 390 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -63.9% | -9.5% |
| % Gain to Breakeven | 177.4% | 10.5% |
| Time to Breakeven | 758 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.3% | -33.7% |
| % Gain to Breakeven | 97.2% | 50.9% |
| Time to Breakeven | 3 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -55.3% | -19.2% |
| % Gain to Breakeven | 123.9% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -39.0% | -3.7% |
| % Gain to Breakeven | 63.8% | 3.9% |
| Time to Breakeven | 24 days | 6 days |
In The Past
Stablecoin Development's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.5% gain to breakeven.
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| Event | SDEV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.5% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -82.1% | -7.8% |
| % Gain to Breakeven | 457.9% | 8.5% |
| Time to Breakeven | 390 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -63.9% | -9.5% |
| % Gain to Breakeven | 177.4% | 10.5% |
| Time to Breakeven | 758 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.3% | -33.7% |
| % Gain to Breakeven | 97.2% | 50.9% |
| Time to Breakeven | 3 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -55.3% | -19.2% |
| % Gain to Breakeven | 123.9% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -39.0% | -3.7% |
| % Gain to Breakeven | 63.8% | 3.9% |
| Time to Breakeven | 24 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.4% | -17.9% |
| % Gain to Breakeven | 45.7% | 21.8% |
| Time to Breakeven | 41 days | 123 days |
In The Past
Stablecoin Development's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.5% 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 Stablecoin Development (SDEV)
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NovaBay Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing a range of eyecare and skincare products for consumers. The company operates in the United States and internationally, offering solutions for various dermatological and ophthalmic concerns.
Its primary product offerings include Avenova, an advanced solution designed for removing foreign materials, microorganisms, and debris from the delicate skin around the eye, such as the eyelid. NovaBay also provides wound care products under the NeutroPhase and PhaseOne brands. Beyond eyecare, the company markets dermatological solutions under its DERMAdoctor brand, addressing conditions like keratosis pilaris, rosacea, eczema, and acne, as well as products for anti-aging, SPF protection, hyperhidrosis, and excessive hair concerns.
NovaBay Pharmaceuticals distributes its products through a multi-channel approach, reaching its customers via traditional retailers, digital beauty platforms, and various distributors. Additionally, the company maintains an online presence for direct consumer sales, ensuring broad accessibility to its specialized eyecare and skincare portfolio.
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NovaBay Pharmaceuticals, Inc. (symbol: SDEV) primarily sells its eyecare, skincare, and wound care products to individuals. Based on its product offerings, its major customer categories include:
- Individuals seeking ocular hygiene and care products: This category includes consumers experiencing conditions such as blepharitis, dry eyes, or those looking for general eyelid hygiene, who purchase products like Avenova.
- Individuals with dermatological and cosmetic skin concerns: This category encompasses consumers looking for solutions for issues such as acne, rosacea, eczema, keratosis pilaris, anti-aging, and sun protection, who purchase products under the DERMAdoctor brand.
- Individuals requiring wound management products: This category covers consumers who need products for wound care and healing, such as those under the NeutroPhase and PhaseOne brands, potentially for post-surgical care or chronic wound management.
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Michael Kazley, Chief Executive Officer and Chairman
Michael Kazley began his career as a financial analyst at Goldman Sachs before founding his own hedge fund, Cedar Lake. He later co-founded Crescent Crypto, one of the first crypto index funds, which subsequently launched the digital opportunities fund. Mr. Kazley joined the company in October 2025 and has since overseen its strategic pivot from a pharmaceutical company to Stablecoin Development Corporation, an "on-chain holding company focused on the stablecoin economy." His background demonstrates a pattern of managing companies in the financial and crypto sectors, including those backed by venture capital firms, as evidenced by the investment from Framework Ventures in the company's new direction.
Tommy Law, Chief Financial Officer and Treasurer
Tommy Law serves as the Chief Financial Officer and Treasurer of Stablecoin Development Corporation. He assumed the role of Director of Finance/CFO on February 14, 2023.
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The key risks for Stablecoin Development (SDEV), an on-chain holding company focused on digital asset ecosystems, are primarily derived from the inherent nature of its business in the cryptocurrency and blockchain space.
- Market Volatility and Digital Asset Price Fluctuations: Stablecoin Development's core business involves the accumulation, holding, and deployment of protocol-aligned digital assets, with a significant focus on the Sky protocol ecosystem and its SKY token. The cryptocurrency market is characterized by extreme price volatility, and fluctuations in the value of these digital assets can lead to substantial financial losses for the company.
- Regulatory Uncertainty in the Digital Asset Space: The regulatory landscape for digital assets, cryptocurrencies, and blockchain technology is rapidly evolving and lacks clear, consistent frameworks across jurisdictions. Changes in regulations, increased government scrutiny, or adverse legal decisions could significantly impact the legality, operational methods, or valuation of the digital assets held by Stablecoin Development, posing a systemic risk to its business model.
- Technology and Protocol-Specific Risks (including Smart Contract Vulnerabilities and Cyberattacks): Stablecoin Development relies heavily on blockchain technology and specific protocols like Sky. This exposes the company to various technological risks, including software bugs, coding errors in smart contracts, network failures, and vulnerabilities that could lead to security breaches, hacking, theft of digital assets, or operational disruptions. Risks specific to the Sky Protocol, such as potential flaws in smart contracts or credit losses on cryptocurrency-backed loans, also directly impact the company.
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- Rise of Highly Personalized & AI-Driven Skincare Solutions: An emerging threat for NovaBay Pharmaceuticals, particularly its DERMAdoctor brand, is the increasing sophistication and market penetration of companies offering highly personalized skincare products. Leveraging AI, genetic analysis, and microbiome insights, these companies create custom-formulated solutions delivered directly to consumers. This model bypasses traditional retail and digital beauty channels, potentially offering a more tailored and effective approach that could significantly erode the market share of established, pre-formulated skincare lines.
- Rapid Advancements in Non-Invasive Medical/Cosmetic Devices: For various conditions addressed by NovaBay's eyecare, wound care, and skincare products, there is a fast-growing trend of advanced non-invasive medical and cosmetic devices. These include professional treatments (e.g., advanced laser and light therapies) and increasingly sophisticated at-home devices (e.g., specialized cleansing tools, LED masks, micro-needling devices). If these devices become significantly more effective, affordable, and widely adopted, they could offer alternative or superior solutions for conditions like anti-aging, acne, rosacea, or even certain aspects of eye hygiene and wound care, thereby reducing the demand for NovaBay's topical pharmaceutical and cosmetic products.
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Stablecoin Development (SDEV), formerly NovaBay Pharmaceuticals, Inc., has undergone a significant strategic pivot toward becoming an on-chain holding company focused on digital assets in early 2026. The company's capital allocation decisions over the last 3-5 years reflect this transformation.
Share Issuance
- In January 2026, SDEV completed a private placement, issuing pre-funded warrants to purchase 167,539,226 shares of its common stock (adjusted for a 1-for-5 reverse stock split), generating approximately $134 million in gross proceeds.
- NovaBay Pharmaceuticals enacted a 1-for-5 reverse stock split in February 2026.
- In April 2026, stockholders approved a new 2026 Equity Incentive Plan, authorizing the issuance of up to 22,223,927 shares for stock-based awards to executives, employees, directors, and consultants.
Inbound Investments
- A $134 million private placement in January 2026, backed by R01 Fund LP, Framework Ventures, Tether Investments, and Sky Frontier Foundation, fueled the company's strategic pivot into the digital asset space.
- The consideration from this private placement included approximately 943.6 million SKY tokens valued at $58 million, $25 million in cash, and $51 million in stablecoins.
Outbound Investments
- Stablecoin Development acquired approximately 1.09 billion additional SKY tokens on the open market for $70.7 million, using proceeds from the January 2026 private placement.
- As of March 31, 2026, the company held approximately 2.15 billion SKY tokens, representing about 9.15% of the total SKY supply.
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.05 |
| Mkt Cap | 28.6 |
| Rev LTM | 3,738 |
| Op Inc LTM | 362 |
| FCF LTM | 1,101 |
| FCF 3Y Avg | 743 |
| CFO LTM | 1,132 |
| CFO 3Y Avg | 787 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.8% |
| Rev Chg 3Y Avg | 45.8% |
| Rev Chg Q | 7.2% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | -30.9% |
| Op Inc Chg 3Y Avg | 36.7% |
| Op Mgn LTM | 3.0% |
| Op Mgn 3Y Avg | 18.2% |
| QoQ Delta Op Mgn LTM | -1.7% |
| CFO/Rev LTM | 18.3% |
| CFO/Rev 3Y Avg | 19.4% |
| FCF/Rev LTM | 16.0% |
| FCF/Rev 3Y Avg | 17.1% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Avenova Spray | 9 | 6 | |||
| Other products | 1 | 0 | |||
| Other revenue, net | 0 | 0 | |||
| NeutroPhase | 0 | 1 | |||
| Eyecare & Wound Care | 11 | 10 | 8 | ||
| Skin Care | 4 | 4 | 1 | ||
| KN95 Masks | 3 | ||||
| Total | 10 | 15 | 14 | 8 | 10 |
| $ Mil | 2023 |
|---|---|
| Skin Care | 4 |
| Eyecare & Wound Care | 4 |
| Total | 8 |
| $ Mil | 2025 |
|---|---|
| Single Segment | 9 |
| Total | 9 |
Price Behavior
Price Behavior
| Market Price | $1.36 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/26/2007 | |
| Distance from 52W High | -98.6% | |
| 50 Days | 200 Days | |
| DMA Price | $1.30 | $8.23 |
| DMA Trend | down | down |
| Distance from DMA | 4.3% | -83.5% |
| 3M | 1YR | |
| Volatility | 104.0% | 246.9% |
| Downside Capture | 77.64 | 246.74 |
| Upside Capture | -90.54 | 142.24 |
| Correlation (SPY) | 15.3% | 15.0% |
SDEV Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.49 | 1.06 | 1.57 | 3.71 | 2.89 | 1.01 |
| Up Beta | 1.65 | 3.43 | 2.81 | 4.82 | 3.62 | 0.57 |
| Down Beta | -1.03 | 0.08 | -0.28 | 6.44 | 3.83 | 1.65 |
| Up Capture | -39% | 1% | 35% | -85% | 168% | -2% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 11 | 19 | 30 | 50 | 119 | 333 |
| Down Capture | 158% | 133% | 234% | 289% | 176% | 111% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 19 | 30 | 71 | 127 | 402 |
[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 SDEV | |
|---|---|---|---|---|
| SDEV | -32.5% | 246.4% | 0.89 | - |
| Sector ETF (XLF) | 6.9% | 14.7% | 0.24 | 14.1% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 14.6% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | -2.1% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -5.8% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 7.7% |
| Bitcoin (BTCUSD) | -43.5% | 42.7% | -1.22 | 19.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SDEV | |
|---|---|---|---|---|
| SDEV | -78.2% | 141.0% | -0.44 | - |
| Sector ETF (XLF) | 10.6% | 18.6% | 0.44 | 5.5% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 8.9% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 1.3% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 0.1% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 3.0% |
| Bitcoin (BTCUSD) | 11.6% | 53.7% | 0.40 | 9.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SDEV | |
|---|---|---|---|---|
| SDEV | -59.0% | 332.7% | 0.24 | - |
| Sector ETF (XLF) | 13.7% | 22.2% | 0.56 | 4.4% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 4.1% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | -2.4% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 2.0% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 0.6% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 5.2% |
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Earnings Returns History
Updated 6/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/20/2026 | -1.9% | -9.7% | -21.3% |
| 3/23/2026 | 19.0% | 29.3% | 19.0% |
| 7/11/2024 | 5.2% | -2.8% | -82.1% |
| 3/14/2024 | -4.9% | -1.1% | -36.2% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 1 |
| # Negative | 2 | 3 | 3 |
| Median Positive | 12.1% | 29.3% | 19.0% |
| Median Negative | -3.4% | -2.8% | -36.2% |
| Max Positive | 19.0% | 29.3% | 19.0% |
| Max Negative | -4.9% | -9.7% | -82.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/20/2026 | -1.9% | -9.7% | -21.3% |
| 3/23/2026 | 19.0% | 29.3% | 19.0% |
| 7/11/2024 | 5.2% | -2.8% | -82.1% |
| 3/14/2024 | -4.9% | -1.1% | -36.2% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 1 |
| # Negative | 2 | 3 | 3 |
| Median Positive | 12.1% | 29.3% | 19.0% |
| Median Negative | -3.4% | -2.8% | -36.2% |
| Max Positive | 19.0% | 29.3% | 19.0% |
| Max Negative | -4.9% | -9.7% | -82.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/02/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/26/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/02/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/26/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/29/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 03/25/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 03/26/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
| 06/30/2019 | 08/07/2019 | 10-Q |
Insider Activity
Updated 6/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kazley, Michael John | Chief Executive Officer | R01 Entities | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form |
| 2 | Framework, Ventures IV LP | Direct | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form | |
| 3 | R01, Fund LP | Chief Executive Officer | Direct | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kazley, Michael John | Chief Executive Officer | R01 Entities | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form |
| 2 | Framework, Ventures IV LP | Direct | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form | |
| 3 | R01, Fund LP | Chief Executive Officer | Direct | Sell | 6172026 | 1.09 | 24,720 | 26,945 | 24,708,682 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Asset Management & Custody Banks Resources |
| Pensions & Investments |
| Institutional Investor |
| Ignites |
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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Core Cache Last Updated: 7/2/2026