Brag House (TBH)
Market Price (2/15/2026): $0.3374 | Market Cap: $3.7 MilSector: Communication Services | Industry: Interactive Home Entertainment
Brag House (TBH)
Market Price (2/15/2026): $0.3374Market Cap: $3.7 MilSector: Communication ServicesIndustry: Interactive Home Entertainment
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 -261% | Weak multi-year price returns2Y Excs Rtn is -129%, 3Y Excs Rtn is -159% | Penny stockMkt Price is 0.3 |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -78% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8442428% | |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Collegiate Esports Platforms, and Collegiate Social Gaming Communities. | Expensive valuation multiplesP/SPrice/Sales ratio is 73,642x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x | |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -100% | ||
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1832458% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -8518276%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8518276% | ||
| 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 -18% | ||
| High stock price volatilityVol 12M is 176% | ||
| Key risksTBH key risks include [1] potential Nasdaq delisting due to delayed financial filings and [2] negligible revenue with a multi-year history of declining earnings. |
| 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 -261% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -78% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Collegiate Esports Platforms, and Collegiate Social Gaming Communities. |
| Weak multi-year price returns2Y Excs Rtn is -129%, 3Y Excs Rtn is -159% |
| Penny stockMkt Price is 0.3 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8442428% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 73,642x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -100% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1832458% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -8518276%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8518276% |
| 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 -18% |
| High stock price volatilityVol 12M is 176% |
| Key risksTBH key risks include [1] potential Nasdaq delisting due to delayed financial filings and [2] negligible revenue with a multi-year history of declining earnings. |
Qualitative Assessment
AI Analysis | Feedback
Brag House (TBH) stock has lost about 70% since 10/31/2025 because of the following key factors:
1. Massive Shareholder Dilution from House of Doge Merger
The proposed merger with House of Doge, announced around November and December 2025, involves Brag House issuing approximately 663 million shares of its common stock to House of Doge equity holders at an implied value of $1.6434 per share. This arrangement is anticipated to result in existing Brag House stockholders collectively owning only about 7.2% of the outstanding common shares of the combined entity, while House of Doge equity securityholders are expected to own approximately 92.8%. Additionally, the establishment of Series C Convertible Preferred Stock, convertible into 5,000,000 shares of common stock each, further indicates substantial dilution for existing shareholders.
2. Significant Decline in Revenue and Poor Financial Performance
Brag House reported a Q3 2025 revenue of $0.00, with annual revenue for 2024 plummeting by 99.97% year-over-year to $105.00. The trailing twelve-month revenue ending September 30, 2025, was only $50.00, and Q1 2026 revenue has shown a year-over-year growth of -99.99%. The company also registered a negative net income (TTM) of -$519.6k and a negative operating cash flow of -$1.45 million as of October 2025, highlighting severe operational and financial challenges. These figures suggest a significant deterioration of the company's financial health.
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1. Massive Shareholder Dilution from House of Doge Merger
The proposed merger with House of Doge, announced around November and December 2025, involves Brag House issuing approximately 663 million shares of its common stock to House of Doge equity holders at an implied value of $1.6434 per share. This arrangement is anticipated to result in existing Brag House stockholders collectively owning only about 7.2% of the outstanding common shares of the combined entity, while House of Doge equity securityholders are expected to own approximately 92.8%. Additionally, the establishment of Series C Convertible Preferred Stock, convertible into 5,000,000 shares of common stock each, further indicates substantial dilution for existing shareholders.
2. Significant Decline in Revenue and Poor Financial Performance
Brag House reported a Q3 2025 revenue of $0.00, with annual revenue for 2024 plummeting by 99.97% year-over-year to $105.00. The trailing twelve-month revenue ending September 30, 2025, was only $50.00, and Q1 2026 revenue has shown a year-over-year growth of -99.99%. The company also registered a negative net income (TTM) of -$519.6k and a negative operating cash flow of -$1.45 million as of October 2025, highlighting severe operational and financial challenges. These figures suggest a significant deterioration of the company's financial health.
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Stock Movement Drivers
Fundamental Drivers
The -70.4% change in TBH stock from 10/31/2025 to 2/14/2026 was primarily driven by a -70.2% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.16 | 0.34 | -70.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | 250,017.0 | 74,399.8 | -70.2% |
| Shares Outstanding (Mil) | 11 | 11 | -0.5% |
| Cumulative Contribution | -70.4% |
Market Drivers
10/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| TBH | -70.4% | |
| Market (SPY) | -0.0% | 40.0% |
| Sector (XLC) | -0.2% | 27.0% |
Fundamental Drivers
The -70.1% change in TBH stock from 7/31/2025 to 2/14/2026 was primarily driven by a -57.8% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.15 | 0.34 | -70.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | 176,327.3 | 74,399.8 | -57.8% |
| Shares Outstanding (Mil) | 8 | 11 | -29.2% |
| Cumulative Contribution | -70.1% |
Market Drivers
7/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| TBH | -70.1% | |
| Market (SPY) | 8.2% | 2.6% |
| Sector (XLC) | 7.0% | 4.5% |
Fundamental Drivers
The -92.5% change in TBH stock from 1/31/2025 to 2/14/2026 was primarily driven by a -5.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.60 | 0.34 | -92.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 0 | 0.0% |
| P/S Multiple | � | 74,399.8 | 0.0% |
| Shares Outstanding (Mil) | 10 | 11 | -5.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| TBH | -92.5% | |
| Market (SPY) | 14.3% | 9.8% |
| Sector (XLC) | 12.9% | 9.6% |
Fundamental Drivers
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Market Drivers
1/31/2023 to 2/14/2026| Return | Correlation | |
|---|---|---|
| TBH | -92.5% | |
| Market (SPY) | 74.0% | 9.8% |
| Sector (XLC) | 114.2% | 9.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TBH Return | 0% | 0% | 0% | 0% | -91% | -17% | -93% |
| Peers Return | 144% | -73% | 44% | 36% | 1% | -29% | -6% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| TBH Win Rate | 0% | 0% | 0% | 0% | 50% | 50% | |
| Peers Win Rate | 33% | 25% | 50% | 47% | 55% | 0% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TBH Max Drawdown | 0% | 0% | 0% | 0% | -91% | -17% | |
| Peers Max Drawdown | -29% | -79% | -35% | -33% | -33% | -30% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GAME, SKLZ, RDDT, RBLX, DKNG.
[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 2/13/2026 (YTD)
How Low Can It Go
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About Brag House (TBH)
Brag House offers an integrated electronic video game sports, or esports, platform designed for casual gamers and their friends to experience the fun, passion, intensity and excitement of college sports rivalries in an organic, inclusive and personalized gaming environment, while creating authentic pathway for brands to connect with our Generation Z (“Gen Z”) audience. The vision for Brag House began with our founders — co-founder and Chief Executive Officer Lavell Juan Malloy, II and co-founder, Chief Operating Officer and Interim Chief Financial Officer Daniel Leibovich — who recognized a need in the gaming industry for an esports platform focused on the casual college gamer. Driven by this vision, our mission is to facilitate, support and enhance the organic — and sometimes spontaneous — creation of digital communities of casual games while delivering value to our shareholders through our diversified revenue model. • Our Vertically Integrated Social Network. Driven by our founders’ vision, we have developed and intend to implement an integrated social network that facilitates the development of digital communities of casual gamers that are supported and enhanced through interactive streaming capabilities, instant messaging, openly available community spaces, leaderboards and our Brags — unique risk-free non-monetary, non-transferrable “bets” that users can place on gaming outcomes. Our vertically integrated approach combines gamer recruitment, facilitation of community engagement and content creation, live-stream production and tournament host activities. By facilitating the creation and publication of all content on our platform, we believe we will be able to offer a one-stop interface and control all aspects of the user experience, from community building, to gamified engagement, to hosting and producing tournaments. Through our company platform, or our Brag House Platform, we aim to attract college-aged gamers by using differentiated engagement functionalities to meet them where and how they play. • Our Diversified Revenue Channels. Our diversified revenue model focuses on advertising and branding partnerships (B2B) as well as our members and users (B2C). To date, all of our current revenue has been generated B2B from Tournaments and Tertiary Fees. Our other intended revenue sources we discuss in this prospectus have not generated meaningful revenue as of yet. • B2B: Tournaments and Tertiary Fees We are able to leverage our esports tournaments to enhance and monetize our B2B partnerships. We perform all publicity and marketing for the tournament and host its production, including the streaming and live broadcast of the tournament. Through December 31, 2024, we have held 27 tournaments, and seven of those tournaments were sponsored by corporate entities including Fortune 500 companies that have generated approximately $667,000 in revenue for us. We anticipate that for 2025, tournaments and sponsorships with major sports enterprises and corporate entities will constitute approximately 99% of our revenue, while subscriptions, merchandise and other forms of revenue to be approximately 1%. Data Insights As we continue to build our technology platform, we plan to implement our data insights model in Q2 2025 that will collect anonymized and aggregated data based on the habits, values, and social media use of our primary userbase, currently the Gen Z audience, and use such information to empower brand advertisers to craft highly effective, hyper-personalized marketing strategies. Our goal is to make Brag House uniquely positioned to offer brands the option to pay for accessing unparalleled insights into Gen Z’s needs and desires. Specifically, we aim to build and leverage comprehensive data, including, but not limited to lifestyle and behavior insights, and predictive analytics, without sharing Personal Identifiable Information (“PII”). This will empower brands to craft highly effective, hyper-personalized marketing strategies that resonate with Gen Z’s needs and desires. Advertising and Marketing Fees At Brag House, we aim to connect advertisers with college-aged gamers, consumers and esports fans. This involves soliciting advertisers to promote their products through digital channels (such as on our social media accounts and in our Brag House Platform), and also through physical channels (such as by advertising with billboards or signs at our live events). In growing the network of Brag House Platform users, we will continue to make ourselves and our events an appealing destination for advertisers to promote their products. Collegiate Leads Program We will continue to develop our network through our Collegiate Leads Program, or our CL Program — where our on-the-ground student ambassadors (i.e. “Collegiate Leads”) help us refine our product offering and expand our footprint on campuses around the country. Through our CL Program, our Collegiate Leads will represent Brag House, organize local tournaments and promote brand awareness. We plan to have over 50 Collegiate Leads across 50 campuses. In addition to promoting Brag House at their own schools, we plan to have these Collegiate Leads reach out to other universities and establish a gaming presence in over 150 colleges and universities in the United States by the end of 2025. • B2C: We intend to offer a subscription model in which our users can select from different membership tiers, giving them access to additional features, prizes and Brag Bucks — our non-monetized and non-transferrable virtual coin that can be used only within our platform’s ecosystem. As of December 31, 2024, we had not commenced offering paid subscriptions (memberships). We anticipate offering paid subscriptions in 2025. Our mission is to foster connectivity and to facilitate an organic and inclusive community in which casual gamers, streamers, fans and friends can compete, enjoy friendly bragging and bantering in a safe environment, support their players and teams and win prizes. To that end, we create exciting and personalized experiences for our users. Our vertically integrated Brag House Platform incorporates features for social media interaction, live streaming and gamification through both web and mobile offerings to provide gamers, streamers and their friends the opportunity to celebrate their love of gaming and competition. We leverage existing college sports rivalries by hosting tournaments and live-streams with a top-tier production experience, which includes game commentary, in-game interviews, play-by-play analysis, post-game analysis, live broadcast digital visuals and tournament brackets. In addition, we encourage our users to engage with these tournaments and live-streams by offering them the ability to partake and enter in-game stat-based predictions on the outcomes of these events. This is known as our “Bragging Functionality.” Our Bragging Functionality includes our in-platform non-monetary, non-transferrable currency, or Brag Bucks, that are utilized by our users to enter into those predictions, as well as digital tokens that are awarded to users for engaging with the Brag House Platform. These digital tokens, or Loyalty Tokens, can be redeemed for prizes. Whether through gameplay highlights, live-streamed esports competitions or custom-designed digital gameplay environments, the Brag House audience is regularly watching and engaging. Our principal executive offices are located at 45 Park Street, Montclair, NJ.
AI Analysis | Feedback
- Esports Platform: Provides a digital environment for amateur and collegiate gamers to compete, connect, and engage.
- Esports Tournament Management: Organizes and hosts competitive live and online esports tournaments for various game titles.
- Esports Content Production: Creates and distributes original video content, including live streams, highlights, and programming focused on collegiate esports.
- Brand Sponsorship & Advertising: Offers marketing opportunities for brands to connect with the collegiate esports audience through platform integrations and event placements.
AI Analysis | Feedback
The Brag House (symbol: TBH) primarily sells its services to **individuals**.
The company operates as an esports and social gaming platform, organizing tournaments and events primarily for gamers. Its customer base can be categorized as follows:
- Collegiate Esports Participants: These are university and college students who participate in esports, either through official school programs or independent teams. They utilize The Brag House's platform to compete against other institutions and amateur players, often seeking to represent their schools and earn recognition or prize money.
- Independent Amateur Gamers: This category includes individual gamers who play competitively but are not necessarily affiliated with a collegiate program. They are passionate about esports and seek structured tournament play, opportunities to test their skills against others, and win prizes.
- Aspiring Semi-Professional Gamers: These are gamers with a higher skill level who are serious about esports and may be looking to advance their gaming careers. They use The Brag House's platform to gain competitive experience, build a reputation, and potentially earn prize money as a stepping stone towards professional play.
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The management team members of Brag House (TBH) include:Lavell Juan Malloy, II Chief Executive Officer and Chairman
Lavell Juan Malloy, II co-founded Brag House on February 23, 2018, and has served as its Chief Executive Officer and Chairman since then. Prior to founding Brag House, Mr. Malloy was the CEO of WollerMalloy Management Group, a financial platform for NFL rookie athletes, from February 2014 to June 2017. He also worked as a securities lawyer at Weil, Gotshal & Manges LLP from 2003 to 2012, where he represented and counseled major corporations. Mr. Malloy is described as a college athlete, a securities lawyer, and a serial founder.
Chetan Jindal Chief Financial Officer and Principal Accounting Officer
Chetan Jindal began serving as the Chief Financial Officer and Principal Accounting Officer for Brag House in March 2025. Since December 2018, Mr. Jindal has been the Founder and Chief Executive Officer of Greenwich Ivy Capital, an investment adviser where he launched and managed the Greenwich Ivy Long-Short Fund. Before founding Greenwich Ivy Capital, he was a partner at Altrinsic Global Advisors, an investment management firm with over $10 billion in assets under management, from July 2007 to December 2017. He also worked as an investment analyst at Brahman Capital, an equity hedge fund, from April 2006 to July 2007.
Daniel Leibovich Chief Operating Officer and Director
Daniel Leibovich is a co-founder of Brag House and has served as its Chief Operating Officer since December 2019, and as a director on the board since January 2022. He has co-founded and held senior operational roles in various startups, including Colu Technologies as a Senior City Launcher, Project Manager, Customer Success Manager, and Operations Manager from December 2020 to June 2021. His experience also includes serving as an Account Executive at Darktrace from January 2019 to December 2019, and as a Co-Founder and Team Leader at Cayenne Realty Group from June 2015 to November 2016. Mr. Leibovich served as a lieutenant in the Israeli Defense Forces (IDF) from January 2007 to January 2011.
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Brag House (TBH) faces several key risks to its business operations and financial stability:- Nasdaq Listing Compliance and Financial Reporting Delays: Brag House Holdings received a notice from Nasdaq on May 27, 2025, for non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025. While the company intends to file the report and submit a compliance plan, there is no assurance that Nasdaq will accept the plan or that Brag House will regain compliance, which could ultimately lead to delisting. This issue raises concerns about the company's financial transparency and operational management.
- Limited Revenue and Historical Financial Performance: The company generates less than $1 million in revenue, with a reported figure of $50, which suggests a very early stage or limited operational scale. Furthermore, Brag House has experienced an 11.3% decline in earnings per year over the past five years. This indicates potential challenges in achieving sustained profitability and scaling its business model effectively.
- High Stock Volatility: Brag House's share price has demonstrated high volatility, and with periodic low trading volume, the stock is considered "very high risk". The stock holds several negative signals and is currently in a wide and falling trend, suggesting potential continued weak performance in the near term.
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The public company Brag House (TBH) operates an integrated electronic video game sports (esports) platform primarily for casual college gamers and fans, focusing on community-driven gaming experiences and connecting brands with the Generation Z (Gen Z) audience. The company's main products and services also include a data insights Software-as-a-Service (SaaS) platform for Gen Z insights and a digital asset platform to advance Name, Image, Likeness (NIL) initiatives for NCAA athletes.
The addressable markets for Brag House's main products and services are sizable:
- U.S. Esports Market: The U.S. esports market was estimated at approximately USD 1.78 billion in 2024 and is predicted to grow to around USD 13.62 billion by 2034. Another estimate valued the U.S. esports market at nearly half a billion dollars in 2024, projected to exceed USD 1.1 billion by 2033. This market forms the broader environment for Brag House's collegiate esports focus.
- Global Fan Engagement Platform Market: This market, highly relevant to Brag House's community-driven gaming experiences, was valued at USD 5.9 billion in 2024 and is expected to reach around USD 25.4 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 16.3%. North America accounted for approximately USD 2.7 billion of this market in 2024.
- NIL (Name, Image, Likeness) Market: Brag House's digital asset platform targets the NIL market, which is projected to grow to USD 1.5 billion by 2027.
- Global Web3 Gaming Market: Given Brag House's digital asset initiatives and focus on Gen Z engagement, the Web3 gaming market is also a relevant addressable space. This market was valued at USD 24.11 billion in 2024 and is expected to reach approximately USD 131.6 billion by 2034, with a CAGR of 18.50%. In North America, the Web3 in Gaming market generated approximately USD 14 billion in revenue in 2024.
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The Brag House (TBH) is strategically positioning itself for future revenue growth over the next 2-3 years by focusing on several key drivers, including:- Expansion of Data-Driven Brand Partnerships and Advertising: Brag House is committed to expanding its data-driven brand partnerships, leveraging advanced audience analytics and engagement metrics to offer brands unparalleled opportunities to understand and interact with Gen Z consumers in a gaming-centric environment. This strategy aims to provide brands with deeper insights into Gen Z behavior, enable personalized brand interactions, and optimize marketing performance, thereby growing advertising and sponsorship revenue.
- Growth of Platform Capabilities and User Engagement: The company plans to scale its media-tech platform, enhancing user experience through new gamification features, reward-based engagement models, and strategic technology integrations. By fostering greater participation and retention among its user base of casual college gamers, Brag House expects to increase overall platform activity, which in turn drives opportunities for monetization.
- Development of B2B Data Subscription Model: As part of its long-term strategy, Brag House intends to optimize and expand its B2B data subscription model. This involves leveraging AI-driven insights and strategic data partnerships to deliver anonymized, actionable behavioral insights of Gen Z to brand partners, providing a new recurring revenue stream.
- Strategic Partnership with Learfield Communications: A significant driver of future revenue is the strategic partnership with Learfield Communications, which provides Brag House with access to over 200 NCAA collegiate properties. This collaboration is expected to fuel fall activations and supports a multi-layered revenue model by connecting brands with student communities and premier college athletic programs.
- Integration of Digital Payments, Asset Management, and Real-World Asset (RWA) Tokenization through House of Doge Merger: The definitive merger agreement with House of Doge Inc., the corporate arm of the Dogecoin Foundation, is set to create a comprehensive financial infrastructure company. This will introduce new revenue verticals including Digital Payments, Asset Management & Treasury, and Real-World Asset (RWA) Tokenization, leveraging Brag House's "Cultural Capital Playbook" within the global Dogecoin ecosystem.
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Share Repurchases
No specific dollar amount of share repurchases made or authorized for future repurchases has been explicitly reported for Brag House (TBH) over the last 3-5 years.
Share Issuance
- Brag House Holdings completed an Initial Public Offering (IPO) in March 2025, raising $5.9 million in gross proceeds from the issuance of 1,475,000 shares of common stock at $4.00 per share.
- In July 2025, the company closed a private placement, generating approximately $15 million in gross proceeds by selling 15,000 shares of Series B Convertible Preferred Stock and 15,923,567 warrants.
- As part of a merger agreement announced in October 2025 with House of Doge, Brag House will issue approximately 663 million shares of its common stock to House of Doge's shareholders.
Inbound Investments
- The Initial Public Offering (IPO) in March 2025 resulted in $5.9 million in gross proceeds for the company.
- Brag House closed a $15 million private investment in public equity (PIPE) financing in July 2025, with participation from twelve accredited investors.
- The definitive merger agreement with House of Doge, announced in October 2025, will result in a combined entity backed by over $50 million in investment capital.
Outbound Investments
- Brag House announced a $4 million investment in CleanCore Solutions' Foundation-backed Dogecoin treasury model in October 2025 through pre-funded warrants.
- Through its merger partner, House of Doge, Brag House made a strategic investment in October 2025, making House of Doge the second-largest owner and Principal Sponsor of the Swiss professional hockey club HC Sierre.
- An $8 million loan from Brag House to House of Doge is part of their October 2025 merger agreement.
Capital Expenditures
While specific dollar values for capital expenditures are not readily available in the provided information, proceeds from the March 2025 IPO were intended to fuel platform enhancement and technology development.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Brag House Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 12.78 |
| Mkt Cap | 5.4 |
| Rev LTM | 1,164 |
| Op Inc LTM | -24 |
| FCF LTM | 252 |
| FCF 3Y Avg | 230 |
| CFO LTM | 329 |
| CFO 3Y Avg | 279 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 31.4% |
| Rev Chg 3Y Avg | 40.2% |
| Rev Chg Q | 42.8% |
| QoQ Delta Rev Chg LTM | 6.4% |
| Op Mgn LTM | -25.8% |
| Op Mgn 3Y Avg | -33.2% |
| QoQ Delta Op Mgn LTM | 2.6% |
| CFO/Rev LTM | -3.5% |
| CFO/Rev 3Y Avg | 6.6% |
| FCF/Rev LTM | -27.9% |
| FCF/Rev 3Y Avg | 3.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.4 |
| P/S | 5.4 |
| P/EBIT | 16.1 |
| P/E | -0.7 |
| P/CFO | 7.8 |
| Total Yield | -8.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -31.0% |
| D/E | 0.1 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -28.9% |
| 3M Rtn | -33.2% |
| 6M Rtn | -54.5% |
| 12M Rtn | -50.4% |
| 3Y Rtn | -27.7% |
| 1M Excs Rtn | -32.5% |
| 3M Excs Rtn | -38.9% |
| 6M Excs Rtn | -59.9% |
| 12M Excs Rtn | -57.8% |
| 3Y Excs Rtn | -93.3% |
Price Behavior
Price Behavior
| Market Price | $0.34 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 03/06/2025 | |
| Distance from 52W High | -94.8% | |
| 50 Days | 200 Days | |
| DMA Price | $2.32 | $2.32 |
| DMA Trend | down | down |
| Distance from DMA | -85.2% | -85.2% |
| 3M | 1YR | |
| Volatility | 117.1% | 181.8% |
| Downside Capture | 853.57 | 174.88 |
| Upside Capture | 137.52 | -128.05 |
| Correlation (SPY) | 45.8% | 9.9% |
TBH Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 6.40 | 6.15 | 4.08 | -0.02 | 0.81 | 0.44 |
| Up Beta | 11.37 | 5.85 | 0.58 | -4.62 | 0.96 | 0.65 |
| Down Beta | 6.85 | 6.05 | 4.69 | -0.26 | 0.67 | 0.45 |
| Up Capture | 510% | 207% | 119% | -40% | -41% | -5% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 19 | 26 | 57 | 106 | 106 |
| Down Capture | 429% | 739% | 481% | 236% | 124% | 79% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 22 | 33 | 65 | 117 | 117 |
[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 TBH | |
|---|---|---|---|---|
| TBH | -91.1% | 181.8% | -0.20 | - |
| Sector ETF (XLC) | 11.8% | 18.8% | 0.46 | 9.3% |
| Equity (SPY) | 14.0% | 19.4% | 0.55 | 9.6% |
| Gold (GLD) | 74.3% | 25.3% | 2.17 | 2.0% |
| Commodities (DBC) | 7.0% | 16.7% | 0.24 | -0.2% |
| Real Estate (VNQ) | 7.9% | 16.6% | 0.28 | 6.2% |
| Bitcoin (BTCUSD) | -29.8% | 44.9% | -0.65 | 4.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TBH | |
|---|---|---|---|---|
| TBH | -38.2% | 181.8% | -0.20 | - |
| Sector ETF (XLC) | 10.9% | 20.8% | 0.44 | 9.3% |
| Equity (SPY) | 13.3% | 17.0% | 0.62 | 9.6% |
| Gold (GLD) | 22.1% | 17.0% | 1.06 | 2.0% |
| Commodities (DBC) | 10.5% | 18.9% | 0.44 | -0.2% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 6.2% |
| Bitcoin (BTCUSD) | 8.3% | 57.2% | 0.37 | 4.6% |
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 TBH | |
|---|---|---|---|---|
| TBH | -21.4% | 181.8% | -0.20 | - |
| Sector ETF (XLC) | 9.4% | 22.5% | 0.51 | 9.3% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 9.6% |
| Gold (GLD) | 15.3% | 15.6% | 0.82 | 2.0% |
| Commodities (DBC) | 8.1% | 17.6% | 0.38 | -0.2% |
| Real Estate (VNQ) | 6.4% | 20.7% | 0.27 | 6.2% |
| Bitcoin (BTCUSD) | 67.9% | 66.7% | 1.07 | 4.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
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.