Sphere 3D Corp.
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY19 | |
|---|---|---|---|---|---|---|
| Revenue | $11.2M | $16.6M | $21.9M | $6.1M | $3.7M | $5.6M |
| Operating income | −$22.0M | −$21.4M | −$30.0M | −$157.7M | −$19.7M | −$6.0M |
| Net income | −$21.5M | −$9.5M | −$23.3M | −$192.8M | −$17.3M | −$4.3M |
| Total assets | $25.1M | $43.2M | $45.7M | $83.0M | $275.9M | $8.4M |
| Total liabilities | — | — | $5.3M | $12.0M | $6.3M | $7.2M |
| Equity | $23.3M | $39.3M | $26.5M | $34.9M | $227.3M | $1.2M |
| EPS (diluted) | $-7.37 | $-0.48 | $-1.93 | $-20.36 | $-0.58 | — |
| Shares out. | 26.2M | 17.8M | 73.9M | 9.8M | 63.6M | 2.3M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −196.8%
- Net margin
- −192.1%
- Return on equity
- −92.2%
- Return on assets
- −85.5%
- Return on capital (ROCE)
- −94.3%
- Liabilities / assets
- —
- Debt / equity
- —
- Book value / share
- $0.89
- Revenue growth (YoY)
- −32.7%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −21.4%clean
- Piotroski F-Score
- 3/8weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 4 warning● 1 good- Operating losses (negative operating margin)
- Reported a net loss
- Revenue declined year-over-year
- Negative operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Armistice Capital, LlcPassive (13G)Nov 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Hanley Timothy P.Director | May 29, 2026 | Option exercise | 12,630 | — |
| Harnett SueDirector | May 29, 2026 | Option exercise | 12,630 | — |
| Kalbfleisch Kurt L.Officer — CEO and CFO | May 20, 2026 | Option exercise | 8,985 | — |
| Reppas Tiah NortonOfficer — Chief Accounting Officer | Mar 11, 2026 | Option exercise | 16,250 | — |
| Kalbfleisch Kurt L.Officer — CEO and CFO | Mar 12, 2026 | Option exercise | 18,358 | — |
| Kalbfleisch Kurt L.Officer — Chief Executive Officer | Dec 8, 2025 | Option exercise | 183,594 | — |
| Kalbfleisch Kurt L.Officer — Acting CEO and CFO | Sep 3, 2025 | Option exercise | 195,201 | — |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 148,645 | 1.0 | +74.0% |
| Apr 30, 2026 | 85,431 | 1.0 | -23.2% |
| Apr 15, 2026 | 111,219 | 1.3 | -41.7% |
| Mar 31, 2026 | 190,638 | 1.3 | -55.2% |
| Mar 13, 2026 | 425,770 | 1.0 | +95.2% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder vote · Regulation FD disclosureMay 21, 2026
- Results of operationsMay 15, 2026
- Shareholder voteMay 14, 2026
- Regulation FD disclosureMay 7, 2026
- Entered a material agreement · Unregistered equity sale · Regulation FD disclosureMar 11, 2026
- Results of operationsMar 9, 2026
- Delisting / listing-standard noticeFeb 27, 2026
- Modified shareholder rights · Amended charter or bylaws · Regulation FD disclosureFeb 12, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 3Jun 1, 2026
- 3Jun 1, 2026
- 3Jun 1, 2026
- 144Jun 1, 2026
- 4STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIESMay 29, 2026
- 4STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIESMay 29, 2026
- S-8FORM S-8May 28, 2026
- 4STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIESMay 22, 2026
- 8-KFORM 8-KMay 21, 2026
- 8-KFORM 8-KMay 15, 2026
- 10-QMay 15, 2026
- 8-KFORM 8-KMay 14, 2026
- DEFA14AFORM DEFA14AMay 8, 2026
- 8-KFORM 8-KMay 7, 2026
- DEFA14AMay 4, 2026