Revenue growth remains volatile with a recent -5.29% year-over-year decline, while operating expenses consistently dwarf gross profit, leading to an operating margin of -124.2% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Sales/Revenue | 2.55M | 2.43M | 2.57M | 3.11M | 4.96M | 6.11M | 3.37M | 1.06M | 692.8K | 910.71K | 94.67K | 0 | 0 | 0 |
| Revenue Growth % | 1.82% | -5.29% | -17.36% | -37.37% | -18.87% | 81.51% | 216.93% | 53.37% | -23.93% | 862% | - | - | - | - |
| Cost of Goods Sold | 1.22M | 1.27M | 1.44M | 1.67M | 2.08M | 1.85M | 1.2M | 695.08K | 645.32K | 542.14K | 78.07K | 0 | 0 | 0 |
| COGS % of Revenue | - | 52.04% | 55.99% | 53.64% | 41.96% | 30.29% | 35.67% | 65.41% | 93.15% | 59.53% | 82.47% | - | - | - |
| Gross Profit | 1.33M | 1.17M | 1.13M | 1.44M | 2.88M | 4.26M | 2.17M | 367.5K | 47.48K | 368.56K | 16.59K | 0 | 0 | 0 |
| Gross Margin % | 52.12% | 47.96% | 44.01% | 46.36% | 58.04% | 69.71% | 64.33% | 34.59% | 6.85% | 40.47% | 17.53% | - | - | - |
| Gross Profit Growth % | - | 3.23% | -21.54% | -49.98% | -32.45% | 96.7% | 489.46% | 673.92% | -87.12% | 2120.93% | - | - | - | - |
| Operating Expenses | 92.13M | 5.19M | 4.44M | 6.74M | 7.42M | 6.54M | 2.58M | 1.37M | 1.15M | 1.63M | 825.23K | 423.48K | 24.15K | 12.29K |
| OpEx % of Revenue | - | 213.65% | 172.92% | 216.92% | 149.71% | 106.98% | 76.58% | 129.17% | 166.6% | 178.83% | 871.71% | - | - | - |
| Selling, General & Admin | 91.69M | 4.78M | 4M | 5.77M | 6.2M | 5.88M | 2.47M | 1.3M | 933.28K | 1.11M | 499.96K | 238.16K | 24.15K | 12.29K |
| SG&A % of Revenue | - | 196.42% | 156.01% | 185.78% | 124.99% | 96.14% | 73.4% | 122.65% | 134.71% | 122.03% | 528.12% | - | - | - |
| Research & Development | 307.61K | 413.59K | 417.94K | 923.72K | 1.2M | 642.87K | 94.22K | 51.15K | 198.43K | 505.14K | 319.94K | 185.32K | 0 | 0 |
| R&D % of Revenue | - | 17.01% | 16.28% | 29.74% | 24.26% | 10.52% | 2.8% | 4.81% | 28.64% | 55.47% | 337.95% | - | - | - |
| Other Operating Expenses | 124.45K | 5.36K | 16.03K | 43.41K | 22.73K | 19.72K | 12.88K | 18.14K | 22.51K | 12.09K | 5.34K | 0 | 0 | 0 |
| Operating Income | -90.8M | -4.03M | -3.31M | -5.3M | -4.55M | -2.28M | -412.7K | -1.01M | -1.11M | -1.26M | -808.64K | -423.48K | -24.15K | -12.29K |
| Operating Margin % | -3560.47% | -165.69% | -128.91% | -170.56% | -91.67% | -37.27% | -12.26% | -94.58% | -159.75% | -138.36% | -854.18% | - | - | - |
| Operating Income Growth % | - | -21.73% | 37.54% | -16.53% | -99.58% | -451.94% | 58.94% | 9.19% | 12.16% | -55.82% | -90.95% | -1653.4% | -96.5% | - |
| EBITDA | -90.63M | -4.02M | -3.29M | -5.25M | -4.52M | -2.26M | -399.81K | -986.89K | -1.08M | -1.25M | -803.3K | 0 | -23.21K | -12.29K |
| EBITDA Margin % | -3553.71% | -165.47% | -128.29% | -169.16% | -91.21% | -36.94% | -11.87% | -92.88% | -156.5% | -137.03% | -848.55% | - | - | - |
| EBITDA Growth % | -2627.05% | -22.16% | 37.33% | -16.16% | -100.31% | -464.79% | 59.49% | 8.98% | 13.12% | -55.35% | - | 100% | -88.85% | - |
| D&A (Non-Cash Add-back) | 172.45K | 5.36K | 16.03K | 43.41K | 22.73K | 19.72K | 12.88K | 18.14K | 22.51K | 12.09K | 5.34K | 423.48K | 0 | 0 |
| EBIT | -91.15M | -4.31M | -3.47M | -4.66M | -4.87M | -2.23M | 217.8K | -2.39M | -1.11M | -1.26M | -808.64K | -423.48K | -23.21K | -12.29K |
| Net Interest Income | -9.87M | -460.83K | -132.57K | -633 | -145.14K | -383.01K | -1.07M | -1.84M | -45.14K | 0 | -3.69K | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 9.87M | 460.83K | 132.57K | 633 | 145.14K | 383.01K | 1.07M | 1.84M | 45.14K | 0 | 3.69K | 0 | 0 | 0 |
| Other Income/Expense | -19.52M | -397.83K | -162.16K | 633.22K | -473.86K | -337.9K | 57.79K | -1.98M | -45.14K | -1.73K | -3.69K | 0 | 940 | 0 |
| Pretax Income | -110.31M | -4.43M | -3.47M | -4.66M | -5.02M | -2.62M | -354.91K | -2.98M | -1.15M | -1.26M | -812.33K | -423.48K | -23.21K | -12.29K |
| Pretax Margin % | -4325.81% | -182.05% | -135.23% | -150.17% | -101.23% | -42.79% | -10.54% | -280.77% | -166.26% | -138.55% | -858.09% | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -110.31M | -4.43M | -3.47M | -4.66M | -5.02M | -2.62M | -354.91K | -2.98M | -1.15M | -1.26M | -812.33K | -423.48K | -23.21K | -12.29K |
| Net Margin % | -4325.81% | -182.05% | -135.23% | -150.17% | -101.23% | -42.79% | -10.54% | -280.77% | -166.26% | -138.55% | -858.09% | - | - | - |
| Net Income Growth % | -3109.96% | -27.51% | 25.58% | 7.08% | -91.91% | -637.01% | 88.1% | -159.01% | 8.71% | -55.32% | -91.82% | -1724.4% | -88.85% | - |
| Net Income (Continuing) | -110.31M | -4.43M | -3.47M | -4.66M | -5.02M | -2.62M | -354.91K | -2.98M | -1.15M | -1.26M | -812.33K | -423.48K | -23.21K | -12.29K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.04 | -1.17 | -1.03 | -1.45 | -1.52 | -1.08 | -0.18 | -1.54 | -0.60 | -0.66 | -0.47 | -0.29 | -0.00 | -0.01 |
| EPS Growth % | -194.95% | -13.59% | 28.97% | 4.61% | -40.74% | -500% | 88.31% | -156.67% | 9.09% | -40.43% | -62.07% | - | 84.35% | - |
| EPS (Basic) | - | -1.17 | -1.03 | -1.45 | -1.52 | -1.08 | -0.18 | -1.54 | -0.60 | -0.66 | -0.47 | -0.29 | -0.00 | -0.01 |
| Diluted Shares Outstanding | 53.95M | 3.8M | 3.38M | 3.22M | 3.3M | 2.41M | 2.02M | 1.94M | 1.92M | 1.92M | 1.72M | 1.47M | 1.33M | 835.88K |
| Basic Shares Outstanding | 53.95M | 3.8M | 3.38M | 3.22M | 3.3M | 2.41M | 2.02M | 1.94M | 1.92M | 1.92M | 1.72M | 1.47M | 1.33M | 835.88K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Acute liquidity and solvency
As reported in recent financial filings, BLBX has struggled to maintain positive momentum, with revenue growth exhibiting a volatile trend that frequently dips into negative territory, most recently highlighted by a -5.29% year-over-year decline that underscores the fragility of its retail-focused subscription model.
The company's inability to sustain consistent top-line expansion suggests that its value proposition may be losing resonance within the retail trading community. Investors should monitor whether this contraction reflects a broader cyclical downturn in retail participation or a fundamental loss of competitive differentiation against alternative trading platforms.
Based on the provided income statement data, BLBX faces significant gross margin volatility, with quarterly figures fluctuating between 26.5% and 60.6%, indicating that the company lacks the pricing power or cost efficiency typically associated with high-performing software-as-a-service providers in the financial technology sector.
The inconsistent gross margins appear to be driven by high, inelastic data licensing costs that consume a substantial portion of subscription revenue. This lack of structural margin stability suggests that the business model may be inherently sensitive to fluctuations in user volume, making profitability difficult to achieve at current scale.
According to the latest quarterly data, the company's net income is heavily impacted by non-operating items, specifically a massive $81.8 million stock-based compensation charge in 2026Q1, which obscures the underlying operational performance and raises significant questions regarding the true economic cost of talent retention.
The massive spike in stock-based compensation suggests that reported net income figures are not reflective of cash-based operational reality. Investors should be wary of such large non-cash charges, as they may indicate aggressive dilution or a disconnect between management compensation and actual shareholder value creation.
Financial statements reveal that BLBX's operating expenses consistently dwarf its gross profit, resulting in deep operating losses that have reached as low as -165.69% of revenue, signaling a fundamental lack of expense discipline and an inability to achieve necessary economies of scale.
The persistent gap between revenue and operating costs suggests that the company is currently unable to support its existing infrastructure without continuous external capital. This cost structure appears unsustainable, and without a drastic reduction in overhead, the company may continue to face significant pressure on its remaining cash reserves.
As indicated by the most recent balance sheet data, the company's cash and equivalents have dwindled to a precarious $39,158, a figure that, when contrasted with ongoing quarterly operating losses, suggests an imminent risk of insolvency that could force highly dilutive financing or strategic liquidation.
The extreme scarcity of liquid assets relative to the burn rate warrants immediate investigation into the company's ability to continue as a going concern. Market participants should consider that the current valuation may not fully account for the potential for a distressed capital raise or the cessation of core operations.
Quick answers to the most common questions about buying BLBX stock.
For fiscal year 2025, Blackboxstocks Inc. (BLBX) reported total revenue of $2.4M.
Blackboxstocks Inc. (BLBX) reported a net loss of $4.4M for the fiscal year ending 2025.
Blackboxstocks Inc. (BLBX) reported an operating income of $-4.0M, resulting in an operating profit margin of -165.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Blackboxstocks Inc. (BLBX) generated $1.2M in gross profit for the year, representing a gross profit margin of 48.0%. This demonstrates the company's core pricing power and production efficiency.