Nakamoto Inc. NAKA
Inc., a Delaware corporation, is a Bitcoin company building a global portfolio of Bitcoin-native companies. We hold Bitcoin on our balance
sheet and, through our ecosystem-wide presence, seek to provide investors with exposure to Bitcoin's global growth and to leverage
our treasury to acquire and develop an ecosystem of Bitcoin companies across finance, media, advisory and more.
14, 2025, we acquired a privately held Bitcoin treasury company through a reverse merger and began our transformation into a Bitcoin
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $1.8M | $2.7M | $3.8M | — |
| R&D | — | $377.7K | $2.5K | — |
| SG&A | $11.8M | $1.9M | $1.4M | — |
| Total operating expenses | $199.0M | $6.1M | $5.4M | — |
| Operating income | -$197.1M | -$3.3M | -$1.6M | — |
| Interest expense | $7.1M | $393.4K | $55.8K | — |
| Pre-tax income | -$52.2M | -$3.6M | -$1.6M | — |
| Net income | -$52.2M | -$3.6M | -$1.6M | — |
| EPS, basic | -0.26 | -0.67 | -0.36 | — |
| EPS, diluted | -0.26 | -0.67 | -0.36 | — |
| Shares, diluted (wtd. avg.) | $200.2M | $5.4M | $4.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $22.6M | $2.3M | $525.5K | $186.9K |
| Receivables | — | $36.9K | $28.0K | — |
| Inventory | — | $4.3K | $63.2K | — |
| Total current assets | $223.8M | $2.5M | $616.9K | — |
| Property, plant and equipment | — | $123.0K | $235.3K | — |
| Other intangibles | $3.0M | — | — | — |
| Total assets | $730.6M | $3.7M | $1.1M | — |
| Accounts payable | $5.9M | $323.7K | $329.8K | — |
| Total current liabilities | $216.0M | $606.0K | $814.4K | — |
| Long-term debt | — | $148.8K | — | — |
| Total liabilities | $216.4M | $1.1M | $1.2M | — |
| Retained earnings | -$60.0M | -$7.8M | -$4.2M | — |
| Total equity | $514.3M | $2.6M | -$108.4K | $381.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$23.5M | -$3.1M | -$449.5K | — |
| Depreciation and amortisation | $82.9K | $136.6K | $105.6K | — |
| Stock-based compensation | $2.4M | $240.9K | $7.0K | — |
| Capital expenditure | — | $13.3K | $14.4K | — |
| Investing cash flow | -$680.0M | -$401.6K | -$14.4K | — |
| Financing cash flow | $723.8M | $5.2M | $802.5K | — |
| Buybacks | $320.4K | $22.1K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-013601.
Others in SIC 6199
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|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO | $220.26B | 21.2x | 6.4% |
| MSTR | Strategy Inc | $50.34B | — | 3.0% |
| COIN | Coinbase Global, Inc. | $48.64B | 41.5x | 9.4% |
| SYF | Synchrony Financial | $26.00B | 8.6x | — |
| CRCL | Circle Internet Group, Inc. | $25.33B | — | 624.0% |
| SOFI | SoFi Technologies, Inc. | $23.53B | 46.7x | 23.1% |
| IREN | IREN Ltd | $15.97B | — | 41.1% |
| BMNR | BITMINE IMMERSION TECHNOLOGIES, INC. | $15.06B | 1.9x | 84.1% |