Amaze Holdings, Inc.

AMAZE HOLDINGS, INC. exhibits severe liquidity constraints and a distressed capital structure. The current ratio stands at 0.09, indicating that current liabilities significantly exceed current assets. Total liabilities of $24.4 million outweigh total equity of $6.8 million, resulting in a debt-to-equity ratio of 1.24. Long-term debt totals $8.4 million, while cash and equivalents are minimal at $156,000. The company reports negative net cash after subtracting total debt, and operating cash flow is negative at -$3.1 million for the latest period. These metrics signal high liquidity risk and substantial doubt about the company's ability to continue as a going concern.

Profitability metrics are deeply negative, reflecting ongoing operational losses. Return on equity is -8.10, and return on assets is -1.77. Operating income is -$5.3 million against revenue of $469,053, indicating a significant operating loss margin. The company has not achieved profitability, and the negative returns contrast sharply with typical industry benchmarks for sustainable retail operations. The gross profit of $433,395 suggests some margin preservation at the top line, but operating expenses far exceed this contribution.

Revenue generation is diversified across wholesale, direct-to-consumer, e-commerce, and subscription channels, though specific segment revenue breakdowns are not detailed in the available data. The company operates primarily in the United States, as indicated by the jurisdiction and filing context. Customer concentration risk is flagged in the filings, suggesting reliance on key clients or partners for a significant portion of revenue. The lack of detailed geographic or segment revenue splits limits a precise assessment of concentration, but the presence of customer concentration risk flags warrants caution.

Growth trajectory data is limited in the provided snapshot, but the historical context of losses and the recent acquisition of Amaze Software Inc. suggest a strategic pivot toward a creator-commerce model. The company has undergone significant structural changes, including mergers and acquisitions, to build its platform capabilities. Revenue of $469,053 in the latest quarter is modest, and the company has not demonstrated consistent revenue growth in the available data points. The focus appears to be on building the platform and user base rather than immediate top-line expansion.

Risk factors are elevated across multiple dimensions. Liquidity risk is high due to the low current ratio and negative cash flow. Dilution risk is medium, driven by the presence of multiple series of preferred stock (Series A, B, C, D) and convertible notes payable. Filings reference going-concern language, and source documents mention dilution or offering risk. The company has issued various convertible notes and promissory notes, which could lead to significant equity dilution upon conversion. Additionally, the company has a history of losses, and there are no assurances of future profitability.

Recent events include the acquisition of Amaze Software Inc., which provides the core creator-commerce platform. The company has also engaged in various financing activities, including the issuance of convertible notes and preferred stock. Filings indicate partial coverage with backfilled data for cash, receivables, and debt. The company has entered into asset purchase agreements and license agreements, suggesting ongoing efforts to expand its intellectual property and service offerings. Analyst estimates show a mean price target of $0.30, with a mean recommendation of 2.00 (Buy), indicating some market optimism despite the financial challenges.

FY2025 gross profit turned positive at $1.57 million, indicating potential improvement in core product profitability despite operating losses.

Net income improved by 95.4% year-over-year in FY2025, suggesting a significant reduction in absolute losses compared to the prior period.

Operating income improved by 94.3% year-over-year in FY2025, reflecting a substantial decrease in operational cash burn relative to the previous year.

The company maintains a low credit risk flag, implying manageable default probabilities despite high liquidity and dilution risks.

Revenue reached $1.97 million in FY2025, demonstrating continued top-line generation capability amidst challenging market conditions and operational restructuring.

FY2025 net income plummeted to a massive loss of $55.17 million, signaling severe financial distress and unsustainable cost structures.

The current ratio of 0.18 indicates critical liquidity risk, as current liabilities vastly exceed current assets, threatening solvency.

Operating margin of -27.65% places the company in the bottom quartile of the Retailers cohort, showing poor operational efficiency.

Book value is negative at -$21.8 million, indicating that total liabilities exceed total assets, a sign of deep financial insolvency.

Revenue $469.1k; Operating income -$5.3M.

• ▍Revenue $469.1k
• ▍Operating income -$5.3M
• ▍Net margin -1196.0%

Revenue $2.2M; Operating income -$10.5M.

• ▍Revenue $2.2M
• ▍Operating income -$10.5M
• ▍Net margin -562.4%

Revenue $930.1k; Operating income -$6.2M.

• ▍Revenue $930.1k
• ▍Operating income -$6.2M
• ▍Net margin -767.4%

Revenue $2.0M; Operating income -$54.4M.

• ▍Revenue $2.0M
• ▍Operating income -$54.4M
• ▍Net margin -2804.3%

Revenue $299.1k; Operating income -$3.1M.

• ▍Revenue $299.1k
• ▍Operating income -$3.1M
• ▍Net margin -842.3%

Revenue $299.1k; Operating income -$3.1M.

• ▍Revenue $299.1k
• ▍Operating income -$3.1M
• ▍Net margin -842.3%

Revenue $1.8M; Operating income -$10.6M.

• ▍Revenue $1.8M
• ▍Operating income -$10.6M
• ▍Net margin -581.3%

Revenue $1.8M; Operating income -$10.6M.

• ▍Revenue $1.8M
• ▍Operating income -$10.6M
• ▍Net margin -581.3%