# Nakamoto Inc. (NAKA)

> Source: Nexqual · https://nexqual.com/NAKA · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Nakamoto Inc. (NAKA), nexqual.com/NAKA" · informational, not investment advice.

**Price:** USD 7.36 (-4.29% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 7.36 · day 7.31–7.87 · 52w 3.33–42 · market cap null · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $39.4M, net income -$421M (-1067.9% margin) (SEC filings).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $7K; 1 not under a Rule 10b5-1 plan ($7K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $1.2M; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y -78.1% vs S&P 500 +13.4%; 5Y -93.9% vs S&P 500 +76.9%.
- Next earnings: 2026-11-16, EPS estimate USD -0.49, revenue estimate $17.4M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $3.8M | $2.7M | $1.8M | $39.4M |
| Operating income | -$1.6M | -$3.3M | -$197M | -$469M |
| Net income | -$1.6M | -$3.6M | -$52.2M | -$421M |
| EPS (diluted) | -$14.40 | -$26.80 | -$10.40 | — |
| Free cash flow | -$464K | -$3.1M | — | — |
| Operating margin | -43.0% | -123.1% | -10824.0% | -1190.8% |
| Net margin | -42.9% | -133.0% | -2867.6% | -1067.9% |
| Revenue growth | — | -27.8% | -33.0% | — |
| Cash + short-term investments | $526K | $2.3M | $21.1M | — |
| Total debt | $229K | $149K | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)


## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 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 |
|---|---|---|---|---|---|---|---|
| 2026-09-15 | Evans Tyler Matthew | Chief Investment Officer | 982 | $7K | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
% 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)
4 purchases, $1.2M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-19…2026-08-20 | Bailey David F | Chief Executive Officer | 36,986 | $210K | 5.68 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-18 | Bailey David F | Chief Executive Officer | 4,918 | $25K | 5.12 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-28 | Bailey David F | Chief Executive Officer | 55,115 | $310K | 5.62 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26…2026-05-27 | Bailey David F | Chief Executive Officer | 136,333 | $683K | 5.01 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-22 | B. Riley Securities | Target raised | Buy | $11 → $13 |
| 2026-09-03 | B. Riley Securities | Target raised | Buy | $9 → $11 |
| 2026-07-27 | TD Cowen | Target raised | Buy | $1 → $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2024-05-27) |
|---|---|---|
| Total return | -78.1% | -93.9% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -78.2% | -68.7% |
| Volatility (annualized) | 104.5% | 172.1% |
| Max drawdown | -91.7% (Oct 2025→Jul 2026) | -99.6% (May 2025→Jul 2026) |

## Peers
ASST (Strive, Inc.) USD 28.97 -0.21% · GPUS (Hyperscale Data, Inc.) USD 0.17 +30.00% · DFDV (DeFi Development Corp.) USD 3.71 -1.33% · MTPLF (Metaplanet Inc.) USD 1.66 +0.30% · NXTT (Next Technology Holding Inc.) USD 5.13 -1.16%

## More
Full page: https://nexqual.com/NAKA · 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

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Media | $24.1M | 67.1% | — |
| Derivatives | $10.4M | 29.0% | — |
| Advisory | $930,000 | 2.6% | — |
| Asset Management | $466,000 | 1.3% | — |
| Total revenue | $35.9M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.48 | $-0.41 | +16.9% | $17.4M | 2 |
| Next quarter (ends 2026-12-31) | $-0.53 | $-0.50 | +5.0% | $15.9M | 2 |
| Current fiscal year (ends 2026-12-31) | $-21.06 | $-9.13 | +130.7% | $71.6M | 1 |
| Next fiscal year (ends 2027-12-31) | $-1.92 | $-1.72 | +11.3% | $65.6M | 2 |