# Strive, Inc. (ASST)

> Source: Nexqual · https://nexqual.com/ASST · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Strive, Inc. (ASST), nexqual.com/ASST" · informational, not investment advice.

**Price:** USD 29.03 (-5.59% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 30.75 · day 27.96–29.77 · 52w 7.02–36.2 · market cap $2.93B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $8.7M, net income -$926M (-10614.2% margin) (SEC filings).
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $3.2M; 6 not under a Rule 10b5-1 plan ($3.2M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $199K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.80 on a 1–5 scale) (5 analysts), mean target USD 38.8 (range 32–56).
- Total return with dividends: 1Y +68.0% vs S&P 500 +14.9%; 5Y -91.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-10, EPS estimate USD -0.22, revenue estimate $3.1M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | TTM |
|---|---|---|---|---|---|
| Revenue | $830K | $343K | $277K | $3.6M | $8.7M |
| Operating income | $15K | -$645K | -$4.9M | -$22.7M | -$816M |
| Net income | $15K | -$645K | -$4.9M | -$21.6M | -$926M |
| EPS (diluted) | $0.00 | -$6.00 | -$37.00 | -$9.75 | — |
| Free cash flow | — | — | -$3.8M | -$21.6M | — |
| Operating margin | 1.8% | -188.1% | -1780.0% | -620.7% | -9356.1% |
| Net margin | 1.8% | -188.1% | -1780.0% | -591.2% | -10614.2% |
| Revenue growth | — | -58.6% | -19.3% | +1217.5% | — |
| Cash + short-term investments | $34K | $137K | $2.9M | $6.2M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 335.9x · P/B 4.5x · Earnings yield -31.60%

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-05 | Pham Benjamin | Chief Financial Officer | 4,209 | $132K | 19.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-05 | Cole Matthew Ryan | Chief Executive Officer | 58,789 | $1.8M | 7.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-05 | Macey Jonathan R | Director | 6,700 | $203K | 45.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-05 | Lavish James | Director | 6,000 | $185K | 40.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-05 | Beirne Brian Logan | Chief Legal Officer | 20,077 | $629K | 32.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-05 | Sarkhani Arshia | Chief Marketing Officer | 5,634 | $177K | 32.3% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $199K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-14 | Rochard Pierre | Director | 15,900 | $199K | 12.54 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 1.80 on a 1–5 scale), 5 analysts; mean target USD 38.8 (low 32, high 56).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Maxim Group | Target raised | Buy | $21 → $37 |
| 2026-09-22 | B. Riley Securities | Target raised | Buy | $26 → $33 |
| 2026-09-03 | B. Riley Securities | Target raised | Buy | $16 → $26 |
| 2026-08-11 | HC Wainwright & Co. | Target lowered | Buy | $37 → $36 |
| 2026-07-22 | TD Cowen | Target lowered | Buy | $32 → $28 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2023-01-30) |
|---|---|---|
| Total return | +68.0% | -91.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +68.3% | -48.9% |
| Volatility (annualized) | 114.8% | 224.8% |
| Max drawdown | -78.2% (Oct 2025→Feb 2026) | -98.0% (Jan 2023→Dec 2024) |

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 23.91 +2.31% · VCTR (Victory Capital Holdings, Inc. ) USD 107.39 -0.20% · PDI (PIMCO Dynamic Income Fund) USD 14.3 +1.20% · AMG (Affiliated Managers Group, Inc.) USD 395.53 +0.48% · IVZ (Invesco Ltd) USD 28.79 -1.57% · SEIC (SEI Investments Company) USD 104.5 -3.62%

## More
Full page: https://nexqual.com/ASST · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ASST's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/1920406/000162828026019879/asst-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Strategy Inc (MSTR) | "Upon receiving an incident report, Corporate Strategy and our MSP perform an initial assessment to determine severity level, whether escalation to executive leadership is needed, and whether cyber insurance notification …" |
| Partner | Federal Deposit Insurance | "Further, bitcoin held with our future custodians or transacted with its trade execution partners will not be subject to the same protections as are available to cash or securities deposited with or transacted by institut…" |
| Partner | Securities Investor Protection | "Further, bitcoin held with our future custodians or transacted with its trade execution partners will not be subject to the same protections as are available to cash or securities deposited with or transacted by institut…" |
| Partner | Barclays Capital | "•On November 5, 2025, the Company entered into an underwriting agreement with Barclays Capital Inc. and Cantor Fitzgerald & Co., as the joint book-running managers and representatives of the several underwriters, relatin…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Asset Management | $1.5M | 51.4% | +1.6% | -$2.2M | -142.5% |
| Medical Device | $1.4M | 47.2% | — | -$5.2M | -375.8% |
| Corporate & Other | $41,000 | 1.4% | +78.3% | -$250.9M | -611897.6% |
| Total revenue | $2.9M | 100% | — | -$258.2M | -8781.0% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Investment advisory fees | $1.5M | 51.4% | +1.6% |
| Medical device revenues | $1.4M | 47.2% | — |
| Other revenue | $41,000 | 1.4% | +78.3% |
| Total revenue | $2.9M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Examples of forward-looking statements include, but are not limited to, express or implied statements regarding the outlook and expectations of Strive and its subsidiaries, 7 the strategic benefits and financial benefits of the merger transaction with Semler Scientific, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.21 | $-0.24 | -12.2% | $3.1M | 2 |
| Next quarter (ends 2026-12-31) | $-0.22 | $-0.22 | +0.0% | $3.1M | 2 |
| Current fiscal year (ends 2026-12-31) | $-5.46 | $-4.06 | +34.5% | $11.9M | 2 |
| Next fiscal year (ends 2027-12-31) | $-0.96 | $-1.04 | -8.1% | $11.3M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-13 (includes earnings 2026-11-10): ±19.0%; earnings reaction alone ±4.6%; last 7 reports averaged ±6.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 99.9% | ±11.9% |
| 2026-11-06 | 14 | 96.8% | ±15.7% |
| 2026-11-13 | 21 | 96.9% | ±19.0% |
| 2026-11-20 | 28 | 102.0% | ±22.8% |
| 2026-11-27 | 35 | 96.8% | ±24.0% |
| 2026-12-04 | 42 | 98.4% | ±26.7% |
| 2026-12-18 | 56 | 91.2% | ±28.5% |
| 2027-01-15 | 84 | 92.3% | ±35.2% |