ZSTK

MKT CAP:$7M

ZeroStack Corp.

Market Cap

$7M

Financial Services·Asset Management·🇨🇦 Canada·NASDAQ

Financials·Asset Management·🇨🇦·NASDAQ

Stock Price

$7.07+$0.22 (+3.21%)

Apr 21, 2026

Company Details

ZeroStack Corp. operates as an AI-powered asset management company focused on providing decentralized AI. ZeroStack is focused on providing exposure to decentralized AI through a concentrated digital asset approach structured to generate yi...

CEO

Daniel Reis-Faria

IPO Date

May 11, 2021

Website

zerostack.ai

Key Metrics TTM

Revenue

$39M

-18.5% YoY

Net Income

-$119M

EPS (Diluted)

-$114.78

Free Cash Flow

-$10M

Revenue / Share

$37.53

Gross Margin

-6.4%

Operating Margin

-31.1%

Net Margin

-303.7%

FCF Margin

-25.8%

P/S

0.2x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

Q4 2025

Feb 27, 2026

-$654.0K-104.9%EPS -$105.07

Q2 2025

Aug 1, 2025

$15M-5.7%EPS -$4.38

Q1 2025

May 13, 2025

$12M-34.6%EPS -$3.98

FY 2024

Mar 24, 2025

$60MEPS -$1.30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$0	$0	-$1M
Q2 20	$0	$0	-$2M
Q3 20	$53.0K	$35.5K	-$7M
Q4 20	$53.0K	$35.5K	-$7M
Q1 21	$1M	$506.0K	-$3M
Q2 21	$1M	$506.0K	-$3M
Q4 21	$5M	$794.0K	-$10M
Q3 22	$10M	$5M	-$4M
Q1 24	$18M	$4M	-$2M
Q2 24	$16M	$3M	-$4M
Q4 24	$13M	$3M	-$6M
Q1 25	$12M	$3M	-$977.0K
Q2 25	$15M	$3M	-$3M
Q4 25	-$654.0K	-$11M	-$3M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	53425.7x	—
Q1 21	4861.1x	—
Q2 21	2667.3x	—
Q4 21	762.7x	—
Q3 22	136.0x	—
Q1 24	32.5x	—
Q2 24	10.7x	—
Q4 24	8.7x	—
Q1 25	0.1x	—
Q2 25	0.1x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	-$1M	-$1M
Q2 20	-$1M	-$1M
Q3 20	-$3M	-$3M
Q4 20	-$3M	-$3M
Q1 21	-$3M	-$4M
Q2 21	-$3M	-$4M
Q4 21	-$1M	-$4M
Q3 22	-$3M	-$4M
Q1 24	-$1M	-$1M
Q2 24	-$253.6K	-$278.8K
Q4 24	-$1M	-$1M
Q1 25	-$3M	-$3M
Q2 25	-$3M	-$3M
Q4 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 20	$41.7K
Q2 20	$41.7K
Q3 20	$75.5K
Q4 20	$75.5K
Q1 21	$692.0K
Q2 21	$692.0K
Q4 21	$3M
Q3 22	$226.0K
Q1 24	$88.0K
Q2 24	$25.2K
Q4 24	$2.4K
Q1 25	$24.0K
Q2 25	$65.0K
Q4 25	$29.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	—	+205.1%
Q2 21	—	+101.4%
Q4 21	+8898.1%	+107.9%
Q3 22	+18215.1%	+95.7%
Q1 24	+1602.6%	+464.4%
Q2 24	+1380.9%	+428.8%
Q4 24	+179.4%	+28.8%
Q1 25	+21.4%	-9.4%
Q2 25	-17.9%	-15.4%
Q4 25	-104.2%	-89.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$172.2K	—
Q2 20	$344.4K	—
Q3 20	$2M	4299.1%
Q4 20	$2M	4299.1%
Q1 21	$47.5K	4.5%
Q2 21	$47.5K	4.5%
Q4 21	$852.0K	17.9%
Q3 22	$140.0K	1.4%
Q1 24	$10.0K	0.1%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$172.0K	1.5%
Q2 25	$172.0K	1.2%
Q4 25	$323.0K	—

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 20	$26.7K	$875.9K	$288.9K
Q2 20	$25.0K	$2M	—
Q3 20	$12.5K	$3M	$2M
Q4 20	$12.5K	$3M	$2M
Q1 21	$42.5K	$2M	$590.0K
Q2 21	$42.5K	$2M	$590.0K
Q4 21	$67.0K	$9M	—
Q3 22	$79.0K	$5M	$2M
Q1 24	$47.0K	$3M	$1M
Q2 24	$62.0K	$4M	$1M
Q4 24	$191.0K	$6M	$2M
Q1 25	$113.0K	$3M	$905.0K
Q2 25	$73.0K	$4M	$945.0K
Q4 25	—	$2M	—

Revenue by Geography

Quarter	Germany	United States	Australia
Q1 24	$11M	$7M	—
Q2 24	$10M	$6M	$241.0K
Q1 25	$7M	$5M	$154.0K
Q2 25	$10M	$4M	$489.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$0	$75M	$75M
Q2 22	$10M	$0	$10M
Q3 22	$6M	$0	$6M
Q4 22	$9M	$0	$9M
Q1 23	$5M	$0	$5M
Q2 23	$2M	$0	$2M
Q3 23	$5M	$0	$5M
Q4 23	$4M	$0	$4M
Q1 24	$4M	$0	$4M
Q2 24	$6M	$0	$6M
Q3 24	$4M	$0	$4M
Q4 24	$6M	$0	$6M
Q1 25	$4M	$0	$4M
Q2 25	$1M	$0	$1M
Q3 25	$13M	$0	$13M
Q4 25	$6M	$76.0K	$6M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	4M	—	—
Q2 20	1M	-67.6%	—
Q3 20	2M	+7.3%	—
Q4 20	2M	0.0%	—
Q1 21	2M	+29.7%	-54.9%
Q2 21	2M	+2.4%	+42.4%
Q4 21	3M	+29.1%	+71.4%
Q3 22	4M	+46.3%	+150.8%
Q1 24	9M	+132.7%	+350.3%
Q2 24	5M	-48.9%	+124.5%
Q4 24	5M	0.0%	+73.9%
Q1 25	191K	-95.8%	-95.0%
Q2 25	550K	+188.6%	-93.8%
Q4 25	1M	+90.1%	-77.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q4 21	$19.2K	249
Q3 22	$39.0K	249
Q1 24	$167.0K	108
Q2 24	$145.2K	108
Q4 24	$175.3K	76
Q1 25	$155.1K	76
Q2 25	$194.7K	76
Q4 25	-$1.0K	650

Revenue / Employee