STRR

MKT CAP:$35M

Star Equity Holdings, Inc.

Market Cap

$35M

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$9.45-$1.22 (-11.43%)

Apr 23, 2026

Company Details

Star Equity Holdings, Inc. provides healthcare solutions in the United States and internationally. It operates through four segments: Diagnostic Services, Diagnostic Imaging, Construction, and Investments. It offers imaging services primari...

CEO

Jeffrey E. Eberwein

IPO Date

Jun 10, 2004

Website

www.starequity.com

Key Metrics TTM

Revenue

$135M

+220.1% YoY

Net Income

-$7M

EPS (Diluted)

-$2.70

Free Cash Flow

-$12M

Revenue / Share

$38.04

Gross Margin

38.4%

Operating Margin

-0.8%

Net Margin

-5.3%

FCF Margin

-8.9%

P/S

0.3x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Dec 30, 2025

$172M+222.6%EPS -$2.08

Q4 2025

Dec 30, 2025

$57M+232.2%EPS -$0.67

Q3 2025

Aug 13, 2025

$48M+251.0%EPS -$0.56

Q1 2025

May 14, 2025

$13M+41.7%EPS -$0.52

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$22M	$3M	-$2M
Q3 21	$29M	$4M	-$2M
Q4 21	$30M	$7M	-$4M
Q1 22	$25M	$5M	-$3M
Q2 22	$17M	$2M	-$774.0K
Q3 22	$11M	$3M	-$452.0K
Q4 22	$32M	$9M	$2M
Q1 23	$26M	$8M	$730.0K
Q2 23	$9M	$3M	-$2M
Q3 23	$10M	$2M	-$2M
Q1 24	$9M	$2M	-$3M
Q3 24	$14M	$3M	-$5M
Q4 24	$17M	$4M	$4M
Q1 25	$13M	$3M	-$3M
Q3 25	$48M	$20M	-$2M
Q4 25	$57M	$24M	-$109.0K

Valuation

Quarter	P/S	P/E
Q1 21	0.6x	132.7x
Q3 21	0.5x	32.4x
Q4 21	0.4x	—
Q1 22	0.3x	—
Q2 22	0.3x	—
Q3 22	0.4x	—
Q4 22	0.4x	—
Q1 23	0.4x	—
Q2 23	0.4x	1.3x
Q3 23	0.5x	1.4x
Q1 24	0.6x	1.6x
Q3 24	0.8x	1.9x
Q4 24	0.7x	—
Q1 25	0.7x	—
Q3 25	0.4x	—
Q4 25	0.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$2M	-$3M
Q3 21	-$577.0K	-$869.0K
Q4 21	$2M	$2M
Q1 22	-$636.0K	-$1M
Q2 22	$4M	$3M
Q3 22	-$3M	-$4M
Q4 22	-$4M	-$4M
Q1 23	$5M	$5M
Q2 23	-$4M	-$4M
Q3 23	$804.0K	$445.0K
Q1 24	-$2M	-$3M
Q3 24	$569.0K	$420.0K
Q4 24	-$1M	-$4M
Q1 25	$563.0K	$200.0K
Q3 25	-$3M	-$3M
Q4 25	-$4M	-$5M

Capital Expenditures

Quarter	CapEx
Q1 21	$449.0K
Q3 21	$292.0K
Q4 21	$113.0K
Q1 22	$366.0K
Q2 22	$388.0K
Q3 22	$478.0K
Q4 22	$711.0K
Q1 23	$136.0K
Q2 23	$73.0K
Q3 23	$359.0K
Q1 24	$244.0K
Q3 24	$149.0K
Q4 24	$2M
Q1 25	$363.0K
Q3 25	$615.0K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	-38.1%	-34.4%
Q3 21	+50.4%	+43.8%
Q4 21	+38.6%	+46.0%
Q1 22	+839.1%	+1597.0%
Q2 22	-24.8%	-26.5%
Q3 22	-61.5%	-62.4%
Q4 22	+8.8%	-9.6%
Q1 23	+2.6%	-9.5%
Q2 23	-47.1%	-37.8%
Q3 23	-6.1%	+4.6%
Q1 24	-71.6%	-59.7%
Q3 24	-46.8%	-24.0%
Q4 24	+92.2%	+23.6%
Q1 25	+23.9%	+30.4%
Q3 25	+426.0%	+310.6%
Q4 25	+315.7%	+199.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$131.0K	0.6%
Q3 21	$126.0K	0.4%
Q4 21	$136.0K	0.5%
Q1 22	$144.0K	0.6%
Q2 22	$72.0K	0.4%
Q3 22	$106.0K	1.0%
Q4 22	$116.0K	0.4%
Q1 23	$102.0K	0.4%
Q2 23	$104.0K	1.2%
Q3 23	$78.0K	0.7%
Q1 24	$58.0K	0.6%
Q3 24	$58.0K	0.4%
Q4 24	$54.0K	0.3%
Q1 25	$51.0K	0.4%
Q3 25	$369.0K	0.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 21	$5M
Q3 21	$5M
Q4 21	$7M
Q1 22	$7M
Q2 22	$3M
Q3 22	$3M
Q4 22	$7M
Q1 23	$6M
Q2 23	$4M
Q3 23	$3M
Q1 24	$4M
Q3 24	$7M
Q4 24	$143.0K
Q1 25	$5M
Q3 25	$22M
Q4 25	$24M

Revenue Segments

Quarter	Camera	Camera Support	Mobile Imaging	Product	Construction Segment	Investments Division	Building And Construction
Q1 21	$1M	$2M	$10M	$9M	—	—	—
Q3 21	$2M	$2M	$11M	$14M	—	—	—
Q1 22	$1M	$2M	$11M	$12M	—	—	—
Q4 22	$3M	$2M	$9M	$18M	—	—	—
Q1 23	$952.0K	$2M	$10M	$12M	—	—	—
Q2 23	—	—	—	—	$9M	$158.0K	—
Q3 23	—	—	—	—	$10M	$89.0K	—
Q1 24	—	—	—	—	—	$188.0K	$9M
Q3 24	—	—	—	—	—	$156.0K	$14M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$15M	$1M	$16M
Q2 22	$14M	$3M	$16M
Q3 22	$9M	$3M	$12M
Q4 22	$4M	$3M	$8M
Q1 23	$6M	$4M	$9M
Q2 23	$21M	$5M	$26M
Q3 23	$21M	$4M	$25M
Q4 23	$18M	$5M	$23M
Q1 24	$15M	$6M	$20M
Q2 24	$15M	$0	$15M
Q3 24	$16M	$0	$16M
Q4 24	$17M	$0	$17M
Q1 25	$17M	$0	$17M
Q2 25	$17M	$0	$17M
Q3 25	$17M	$3M	$19M
Q4 25	$12M	$4M	$16M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	5M	+34.4%	+139.8%
Q3 21	5M	+3.8%	+148.2%
Q4 21	5M	-0.3%	+7.6%
Q1 22	4M	-18.8%	+12.8%
Q2 22	4M	0.0%	-16.0%
Q3 22	4M	0.0%	-19.1%
Q4 22	4M	0.0%	-18.8%
Q1 23	4M	0.0%	0.0%
Q2 23	4M	0.0%	0.0%
Q3 23	4M	0.0%	0.0%
Q1 24	4M	0.0%	0.0%
Q3 24	3M	-22.2%	-22.2%
Q4 24	3M	-2.0%	-23.8%
Q1 25	3M	+1.9%	-22.4%
Q3 25	3M	+1.8%	-21.0%
Q4 25	4M	+8.6%	+10.4%

Shares Outstanding