Revenue growth has entered a state of terminal contraction, evidenced by a 33.5% year-over-year decline in 2025Q4 and a persistent inability to achieve positive operating margins, which reached -139.0% in 2026Q1.
| Sales/Revenue | 30.63M | 32.98M | 39.62M | 67.57M | 31.82M | 7.87M |
| Revenue Growth % | -19.78% | -16.76% | -41.36% | 112.34% | 304.11% | - |
| Cost of Goods Sold | 30.69M | 32.45M | 33.64M | 61.31M | 29.63M | 5.68M |
| COGS % of Revenue | - | 98.38% | 84.9% | 90.74% | 93.11% | 72.16% |
| Gross Profit | -63.67K | 534.33K | 5.98M | 6.26M | 2.19M | 2.19M |
| Gross Margin % | -0.21% | 1.62% | 15.1% | 9.26% | 6.89% | 27.84% |
| Gross Profit Growth % | - | -91.07% | -4.44% | 185.33% | 0.08% | - |
| Operating Expenses | 52.04M | 23.89M | 14.17M | 16.94M | 17.7M | 2.62M |
| OpEx % of Revenue | - | 72.45% | 35.78% | 25.07% | 55.63% | 33.32% |
| Selling, General & Admin | 32.39M | 23.89M | 12.76M | 14.81M | 16.4M | 2.62M |
| SG&A % of Revenue | - | 72.45% | 32.2% | 21.91% | 51.54% | 33.32% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 1.41M | 2.13M | 1.3M | 0 |
| Operating Income | -52.1M | -23.36M | -8.19M | -10.68M | -15.51M | -431.29K |
| Operating Margin % | -170.11% | -70.83% | -20.68% | -15.81% | -48.73% | -5.48% |
| Operating Income Growth % | - | -185.14% | 23.29% | 31.13% | -3495.59% | - |
| EBITDA | -50.37M | -21.02M | -5.74M | -7.64M | -14.66M | -290.53K |
| EBITDA Margin % | -164.46% | -63.74% | -14.48% | -11.3% | -46.07% | -3.69% |
| EBITDA Growth % | -1407.73% | -266.36% | 24.85% | 47.91% | -4945.51% | - |
| D&A (Non-Cash Add-back) | 1.73M | 2.34M | 2.45M | 3.04M | 848.93K | 140.76K |
| EBIT | -285.66M | -258.01M | 5.44M | -57.5M | -40.65M | -431.29K |
| Net Interest Income | -3.07M | -4.08M | -5.29M | -11.55M | -6.97M | -33.4K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.07M | 4.08M | 5.29M | 11.55M | 6.97M | 33.4K |
| Other Income/Expense | -283.44M | -238.73M | 8.35M | -58.38M | -32.11M | 541.21K |
| Pretax Income | -335.54M | -262.09M | 154.47K | -69.06M | -47.62M | 109.92K |
| Pretax Margin % | -1095.5% | -794.67% | 0.39% | -102.2% | -149.65% | 1.4% |
| Income Tax | 48.95K | 20.16K | -135.34K | 0 | -173K | 210K |
| Effective Tax Rate % | -0.01% | -0.01% | -87.61% | 0% | 0.36% | 191.05% |
| Net Income | -335.6M | -262.01M | 708.54K | -68.32M | -47.26M | 28.78K |
| Net Margin % | -1095.69% | -794.43% | 1.79% | -101.11% | -148.51% | 0.37% |
| Net Income Growth % | -8775.59% | -37079.34% | 101.04% | -44.57% | -164305.74% | - |
| Net Income (Continuing) | -335.59M | -262.11M | 289.81K | -69.06M | -47.45M | -100.08K |
| Discontinued Operations | -8.87K | 96.68K | 418.72K | 736.7K | 0 | 0 |
| Minority Interest | -414.51K | -414.51K | -414.51K | -414.5K | -316.51K | -128.86K |
| EPS (Diluted) | -1.40 | -4.14 | 0.36 | -23.63 | -150.95 | 0.18 |
| EPS Growth % | -65.07% | -1250% | 101.52% | 84.35% | -83961.11% | - |
| EPS (Basic) | - | -4.14 | 0.40 | -23.63 | -150.95 | 0.35 |
| Diluted Shares Outstanding | 240.58M | 63.24M | 1.98M | 2.89M | 313.07K | 156.9K |
| Basic Shares Outstanding | 240.58M | 63.24M | 1.75M | 2.89M | 313.07K | 81.22K |
| Dividend Payout Ratio | - | - | - | - | - | - |
Unsustainable cash burn rate
As reported in recent financial filings, Eightco Holdings experienced a significant 33.5% revenue decline in 2025Q4, signaling that the legacy corrugated packaging business is in a state of terminal contraction while the company attempts to pivot toward speculative AI infrastructure and Worldcoin-related treasury strategies.
The consistent quarter-over-quarter revenue volatility suggests that the core business lacks a stable demand floor. Investors should monitor whether the transition to AI-centric services can offset the rapid decay of the legacy industrial segment, as current trends indicate a shrinking top line that provides little support for the company's new strategic direction.
Based on the provided income statement data, Eightco Holdings' gross margin plummeted to -13.0% in 2025Q4, reflecting an inability to cover the cost of goods sold and suggesting that the legacy distribution model has become fundamentally unviable in its current operational configuration.
The extreme margin compression indicates that the company is likely offloading inventory at a loss or facing severe procurement inefficiencies. This structural weakness implies that the business lacks the pricing power necessary to sustain operations, making the pivot to higher-margin AI infrastructure a necessity rather than a strategic choice.
According to historical income statements, the company reported a staggering net loss of $232.5 million in 2025Q4, which appears to be driven by significant non-operating charges or asset impairments rather than purely operational expenses, complicating the assessment of true underlying earnings quality for shareholders.
The massive discrepancy between revenue and net income suggests that the company is absorbing substantial non-cash charges that obscure the actual cash-burning nature of the business. Analysts should exercise caution, as these periodic, large-scale write-downs may mask the ongoing operational difficulties inherent in the company's current business model.
Financial statements indicate that SG&A costs reached $13.2 million in 2025Q4, a figure that significantly exceeds the $10.2 million in quarterly revenue, highlighting a severe lack of expense discipline and an inability to scale operating costs relative to the company's declining top-line performance.
The current cost structure appears disconnected from the company's revenue-generating capacity, suggesting that fixed overheads remain bloated despite the contraction of the legacy business. This misalignment warrants further investigation into management's ability to right-size the organization before the existing cash reserves are fully exhausted.
While management emphasizes a pivot toward AI infrastructure and Worldcoin treasury strategies, the income statement data suggests that the company is currently a distressed industrial entity, with a -794.43% net margin that raises significant questions regarding the long-term viability of the current corporate structure.
Short-term observers may be distracted by the narrative of a technology-driven turnaround, yet the financials reveal a business that is struggling to maintain basic operational solvency. The reliance on digital asset strategies may introduce extreme volatility, potentially exacerbating the existing risks associated with the company's failing legacy operations.
Quick answers to the most common questions about buying ORBS stock.
For fiscal year 2025, Eightco Holdings Inc. (ORBS) reported total revenue of $33.0M. This represents a 318.8% increase compared to $7.9M in 2021.
Eightco Holdings Inc. (ORBS) reported a net loss of $262.0M for the fiscal year ending 2025.
Eightco Holdings Inc. (ORBS) reported an operating income of $-23.4M, resulting in an operating profit margin of -70.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Eightco Holdings Inc. (ORBS) generated $0.5M in gross profit for the year, representing a gross profit margin of 1.6%. This demonstrates the company's core pricing power and production efficiency.