Revenue scaling is evident with a 57% year-over-year expansion, yet net margins remain deeply negative at -101.2% as of 2026Q1 due to excessive operational costs.
| Sales/Revenue | 5.99M | - | - | - |
| Revenue Growth % | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - |
| COGS % of Revenue | - | - | - | - |
| Gross Profit | -36.63M | 5.51M | -10.35M | -10.27M |
| Gross Margin % | -611.64% | 96.16% | -283.61% | -419.35% |
| Gross Profit Growth % | - | 153.27% | -0.77% | - |
| Operating Expenses | 39.14M | 49.27M | 12.3M | 7.75M |
| OpEx % of Revenue | - | 859.26% | 337.03% | 316.31% |
| Selling, General & Admin | 37.56M | 12.11M | 12.11M | 7.65M |
| SG&A % of Revenue | - | 211.2% | 331.77% | 312.3% |
| Research & Development | 0 | - | - | - |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - |
| Operating Income | -75.77M | -43.76M | -22.65M | -18.02M |
| Operating Margin % | -1265.28% | -763.1% | -620.64% | -735.67% |
| Operating Income Growth % | - | -93.15% | -25.7% | - |
| EBITDA | -75.53M | -43.54M | -22.39M | -17.81M |
| EBITDA Margin % | -1261.3% | -759.26% | -613.51% | -727.01% |
| EBITDA Growth % | - | -94.41% | -25.74% | - |
| D&A (Non-Cash Add-back) | 238.68K | 220K | 260.27K | 212.12K |
| EBIT | -259.07M | -43.76M | -22.65M | -18.02M |
| Net Interest Income | -214.3K | 0 | 794.84K | 1.11M |
| Interest Income | 28.84K | 0 | 794.84K | 1.11M |
| Interest Expense | 243.14K | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - | - |
| Pretax Income | -868.82M | -420.59M | -21.58M | -16.91M |
| Pretax Margin % | -14508.75% | -7334.98% | -591.21% | -690.29% |
| Income Tax | 13.45M | 0 | 0 | 0 |
| Effective Tax Rate % | -1.55% | 0% | 0% | 0% |
| Net Income | -882.28M | -420.59M | -21.58M | -16.91M |
| Net Margin % | -14733.42% | -7334.98% | -591.21% | -690.29% |
| Net Income Growth % | - | -1848.98% | -27.61% | - |
| Net Income (Continuing) | -882.28M | -420.59M | -21.58M | -16.91M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -14.32 | -9.50 | -194.99 | -34.79 |
| EPS Growth % | - | 95.13% | -460.48% | - |
| EPS (Basic) | - | -9.50 | -194.99 | -34.79 |
| Diluted Shares Outstanding | 61.63M | 44.71M | 110.67K | 141.74K |
| Basic Shares Outstanding | 61.63M | 44.71M | 110.67K | 141.74K |
| Dividend Payout Ratio | - | - | - | - |
Excessive operating burn rate
According to the latest quarterly financial data, SATA has demonstrated a significant 57% year-over-year revenue expansion, suggesting that the firm is successfully attracting new assets or capturing performance-linked fees, although the sustainability of this growth remains uncertain given the firm's highly concentrated and niche market focus.
The rapid revenue growth appears to be driven by non-recurring performance components rather than a stable management fee base. Investors should monitor whether this trajectory can be maintained without eroding the specialized alpha that currently defines the firm's competitive moat.
As reported in recent income statements, SATA's net margin has plummeted to -7334.98%, a figure that likely reflects significant non-cash mark-to-market adjustments on proprietary seed capital rather than purely operational inefficiency, despite the firm maintaining a structurally high gross margin profile typical of boutique asset managers.
The extreme disparity between gross and net margins suggests that the firm is currently absorbing heavy below-the-line costs associated with its investment strategy. This volatility implies that the firm's profitability is currently tethered to the valuation cycles of its underlying esoteric assets.
Based on the provided financial figures, SATA is currently operating with an unsustainable cost structure where SG&A expenses consistently dwarf revenue, indicating that the firm is heavily over-investing in personnel and infrastructure in anticipation of future AUM growth that has yet to materialize at scale.
The firm's decision to maintain a high fixed-cost base suggests a strategic commitment to preserving its specialized domain expertise. However, this approach creates a significant hurdle for achieving operating leverage, as the current revenue base is insufficient to cover the firm's substantial overhead.
While the firm reports a robust $67M cash position, the current operating burn rate, as evidenced by the massive net losses, warrants further investigation into whether the firm can reach a self-sustaining profitability inflection point before its liquidity reserves are exhausted by ongoing operational requirements.
Short-term observers may view the current losses as a sign of fundamental failure, but the lack of debt suggests management is prioritizing a long-term runway. The primary risk remains that the firm's niche strategy may not scale effectively, leaving it with a high-cost structure and no path to profitability.
Quick answers to the most common questions about buying SATA stock.
Strive, Inc. Variable Rate Series A Perpetual Preferred Stock (SATA) reported a net loss of $420.6M for the fiscal year ending 2025.
Strive, Inc. Variable Rate Series A Perpetual Preferred Stock (SATA) reported an operating income of $-43.8M, resulting in an operating profit margin of -763.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Strive, Inc. Variable Rate Series A Perpetual Preferred Stock (SATA) generated $5.5M in gross profit for the year, representing a gross profit margin of 96.2%. This demonstrates the company's core pricing power and production efficiency.