Revenue growth reached 42.1% in 2026Q1, yet the company continues to struggle with structural inefficiency, evidenced by a deeply negative operating margin of -191.7%.
| 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 | Dec'12 | Dec'11 |
|---|
| Sales/Revenue | 9.37M | 7.77M | 3.91M | 3.79M | 13.88M | 12.39M | 14.01M | 11.63M | 6.12M | 2.61M | 2.11M | 1.7M | 1.06M | 64.04K | 122.32K | 74.68K |
| Revenue Growth % | 104.03% | 98.57% | 3.33% | -72.72% | 12.01% | -11.52% | 20.49% | 89.86% | 134.53% | 23.84% | 23.83% | 61.32% | 1548.2% | -47.65% | 63.79% | - |
| Cost of Goods Sold | 8.89M | 6.37M | 2.22M | 3.98M | 11.44M | 9.48M | 10.38M | 7.57M | 3.81M | 1.63M | 1.28M | 870.39K | 494.89K | 8.22K | 9.29K | 1.55K |
| COGS % of Revenue | - | 82.01% | 56.79% | 105.18% | 82.42% | 76.52% | 74.14% | 65.09% | 62.27% | 62.58% | 60.73% | 51.12% | 46.89% | 12.83% | 7.59% | 2.08% |
| Gross Profit | 485K | 1.4M | 1.69M | -196K | 2.44M | 2.91M | 3.62M | 4.06M | 2.31M | 976.93K | 827.96K | 832.23K | 560.55K | 55.82K | 113.03K | 73.12K |
| Gross Margin % | 5.18% | 17.99% | 43.21% | -5.18% | 17.58% | 23.48% | 25.86% | 34.91% | 37.73% | 37.42% | 39.27% | 48.88% | 53.11% | 87.17% | 92.41% | 97.92% |
| Gross Profit Growth % | - | -17.33% | 962.76% | -108.03% | -16.12% | -19.68% | -10.74% | 75.7% | 136.48% | 17.99% | -0.51% | 48.47% | 904.22% | -50.62% | 54.58% | - |
| Operating Expenses | 20.48M | 20.62M | 10.72M | 1.86M | 9.09M | 9.81M | 11.81M | 14.01M | 10.57M | 5.77M | 5.13M | 4.37M | 1.37M | 137.59K | 164.08K | 83.42K |
| OpEx % of Revenue | - | 265.35% | 273.98% | 49.22% | 65.48% | 79.15% | 84.3% | 120.52% | 172.63% | 220.83% | 243.13% | 256.88% | 129.46% | 214.86% | 134.14% | 111.71% |
| Selling, General & Admin | 12.29M | 10.8M | 6.03M | 1.81M | 9.03M | 9.39M | 12.18M | 14.03M | 10.57M | 5.77M | 5.13M | 4.37M | 1.37M | 137.59K | 164.08K | 83.34K |
| SG&A % of Revenue | - | 138.97% | 153.97% | 47.72% | 65.06% | 75.77% | 86.91% | 120.65% | 172.63% | 220.83% | 243.13% | 256.88% | 129.46% | 214.86% | 134.14% | 111.6% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 9.82M | 4.7M | 57K | 58K | 419K | -366K | -15K | 2.7K | 0 | -39.19K | 0 | -3.74K | 0 | 0 | 82 |
| Operating Income | -19.99M | -19.22M | -9.03M | -2.06M | -6.65M | -6.9M | -8.19M | -9.95M | -8.26M | -4.83M | -4.3M | -3.54M | -4.05M | -81.77K | -51.05K | -10.3K |
| Operating Margin % | -213.35% | -247.36% | -230.77% | -54.4% | -47.89% | -55.67% | -58.44% | -85.61% | -134.91% | -184.98% | -203.86% | -208% | -383.91% | -127.69% | -41.73% | -13.79% |
| Operating Income Growth % | - | -112.85% | -338.35% | 69.02% | 3.64% | 15.71% | 17.75% | -20.48% | -71.04% | -12.38% | -21.36% | 12.6% | -4855.46% | -60.17% | -395.72% | - |
| EBITDA | -16.68M | -15.9M | -8.15M | -1.91M | -5.13M | -5.66M | -6M | -8.26M | -7.9M | -4.74M | -4.28M | -3.52M | -4.05M | -71.03K | -42.24K | -10.3K |
| EBITDA Margin % | -178.02% | -204.68% | -208.33% | -50.46% | -36.94% | -45.69% | -42.83% | -71.07% | -128.95% | -181.46% | -202.82% | -206.87% | -383.35% | -110.91% | -34.54% | -13.79% |
| EBITDA Growth % | -42.05% | -95.09% | -326.58% | 62.74% | 9.43% | 5.62% | 27.39% | -4.65% | -66.66% | -10.8% | -21.4% | 12.95% | -5596.65% | -68.13% | -310.22% | - |
| D&A (Non-Cash Add-back) | 3.31M | 3.32M | 878K | 149K | 1.52M | 1.24M | 2.19M | 1.69M | 364.81K | 92.02K | 21.99K | 19.28K | 5.89K | 10.74K | 8.8K | 0 |
| EBIT | -20.71M | -19.22M | -4M | -3.69M | -14.05M | -4.8M | -8.55M | -12.62M | -8.26M | -5.04M | -4.34M | -3.54M | -805.79K | -71.03K | -42.24K | -10.3K |
| Net Interest Income | -404K | -2.27M | -2.23M | -1.11M | -2.22M | -1.25M | -1.09M | -508K | -789.36K | -235.05K | -862.47K | -112.46K | 0 | -15.21K | -14.77K | -12.36K |
| Interest Income | 96K | 0 | 4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 500K | 2.27M | 2.24M | 1.11M | 2.22M | 1.25M | 1.09M | 508K | 789.36K | 235.05K | 862.47K | 112.46K | 0 | 15.21K | 14.77K | 12.36K |
| Other Income/Expense | -1.25M | -3.45M | 2.79M | -2.73M | -9.62M | 846K | -1.46M | -3.18M | -786.66K | -448.04K | -901.66K | -59.55K | -3.74K | -4.47K | -5.97K | -12.36K |
| Pretax Income | -21.24M | -22.67M | -6.24M | -4.79M | -16.27M | -6.05M | -9.65M | -13.13M | -9.05M | -5.28M | -5.2M | -3.6M | -4.06M | -86.23K | -57.02K | -22.66K |
| Pretax Margin % | -226.67% | -291.71% | -159.42% | -126.38% | -117.16% | -48.85% | -68.87% | -112.95% | -147.75% | -202.14% | -246.63% | -211.5% | -384.26% | -134.67% | -46.61% | -30.34% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.7K | 21.46K | 0 | 0 | 1.5K | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.03% | -0.41% | 0% | 0% | -0.04% | 0% | 0% | 0% |
| Net Income | -20.58M | -22.12M | -11.33M | -7.54M | -16.27M | -2.2M | -9.86M | -16.91M | -9.05M | -5.28M | -5.2M | -3.6M | -4.06M | -86.23K | -57.02K | -22.66K |
| Net Margin % | -219.57% | -284.68% | -289.62% | -198.97% | -117.16% | -17.72% | -70.39% | -145.43% | -147.75% | -202.12% | -246.63% | -211.5% | -384.4% | -134.67% | -46.61% | -30.34% |
| Net Income Growth % | -22.03% | -95.18% | -50.4% | 53.68% | -640.71% | 77.73% | 41.68% | -86.88% | -71.44% | -1.49% | -44.39% | 11.24% | -4604.78% | -51.24% | -151.65% | - |
| Net Income (Continuing) | -21.24M | -22.67M | -6.24M | -4.79M | -16.27M | -6.05M | -9.65M | -13.13M | -9.05M | -5.28M | -5.2M | -3.6M | -4.06M | -86.23K | -57.02K | -22.66K |
| Discontinued Operations | 556K | 332K | -6.84M | -2.75M | 0 | 3.86M | -213K | -3.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 15.59K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.67 | -2.15 | -27.02 | -69.10 | -214.10 | -67.90 | -165.40 | -281.70 | -297.90 | -283.90 | -833.80 | -944.50 | -1458.80 | -68.80 | -53.80 | -21.40 |
| EPS Growth % | 88.46% | 92.04% | 60.9% | 67.73% | -215.32% | 58.95% | 41.29% | 5.44% | -4.93% | 65.95% | 11.72% | 35.25% | -2020.35% | -27.88% | -151.4% | - |
| EPS (Basic) | - | -2.15 | -27.02 | -69.10 | -214.10 | -67.90 | -165.40 | -281.70 | -297.90 | -283.90 | -833.80 | -944.50 | -1458.80 | -68.80 | -53.80 | -21.40 |
| Diluted Shares Outstanding | 30.65M | 14.14M | 246.26K | 109.1K | 76.69K | 63.54K | 50.13K | 46.38K | 30.37K | 18.59K | 6.24K | 3.81K | 2.78K | 1.25K | 1.06K | 1.06K |
| Basic Shares Outstanding | 30.65M | 14.14M | 246.26K | 109.1K | 76.69K | 63.54K | 50.13K | 46.38K | 30.37K | 18.59K | 6.24K | 3.81K | 2.78K | 1.25K | 1.06K | 1.06K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and solvency constraints
As indicated by the most recent quarterly filings, Beeline Holdings has achieved a 42.1% revenue growth rate, yet this expansion remains highly erratic, with historical periods showing a 100% contraction, suggesting that the company's top-line trajectory is heavily dependent on volatile mortgage market conditions and cyclical demand.
The rapid revenue growth appears to be a function of aggressive customer acquisition rather than sustainable market share gains. Investors should monitor whether this growth can persist without significant capital injections, as the current revenue base remains small and highly sensitive to interest rate fluctuations.
Based on reported financial statements, the company's gross margin has fluctuated wildly between -108.3% and 96.4%, highlighting a lack of structural pricing power and an inability to consistently manage the variable costs associated with its digital mortgage origination platform in a competitive lending environment.
The extreme volatility in gross margins suggests that the company's cost of goods sold is not well-aligned with its revenue recognition model. This inconsistency implies that the underlying unit economics of the mortgage lending process are currently unstable and may require significant operational refinement to achieve profitability.
According to the income statement data, the company's operating margin of -191.7% in the most recent quarter demonstrates a failure to achieve operating leverage, as SG&A expenses continue to outpace gross profit, effectively consuming all revenue generated by the firm's core mortgage lending activities.
The persistent operating losses indicate that the company's fixed cost base is disproportionately high relative to its current scale. Without a substantial increase in loan volume to amortize these overhead costs, the firm appears unlikely to reach an operating break-even point in the near term.
As reported in recent financial disclosures, the company's net income remains deeply negative, with a net margin of -195.8%, which raises significant concerns regarding the quality of earnings and the sustainability of the current business model in the absence of non-operating income or capital support.
The reliance on external funding to cover recurring net losses suggests that the reported figures are not indicative of a self-sustaining enterprise. Analysts should be wary of the potential for future equity dilution as the company attempts to bridge the gap between its current cash burn and operational viability.
Based on the provided financial data, the company's cash position of $3.06 million appears insufficient to support its current operating loss trajectory, suggesting that the firm faces a high risk of liquidity exhaustion unless it can rapidly pivot to a more capital-efficient operating model.
Short-sellers would likely focus on the widening gap between revenue growth and cash depletion, which points to a business model that is currently value-destructive. The lack of a clear path to positive cash flow warrants extreme caution regarding the company's long-term survival prospects.
Quick answers to the most common questions about buying BLNE stock.
For fiscal year 2025, Beeline Holdings, Inc. (BLNE) reported total revenue of $7.8M. This represents a 10304.5% increase compared to $0.1M in 2011.
Beeline Holdings, Inc. (BLNE) reported a net loss of $22.1M for the fiscal year ending 2025.
Beeline Holdings, Inc. (BLNE) reported an operating income of $-19.2M, resulting in an operating profit margin of -247.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Beeline Holdings, Inc. (BLNE) generated $1.4M in gross profit for the year, representing a gross profit margin of 18.0%. This demonstrates the company's core pricing power and production efficiency.