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NASDAQ NMS - GLOBAL MARKET · Technology · CIK 0002084026
$3.20
-6.16% · live
Updated
$100.9M market value
From QumulusAI, Inc.'s FY2025 annual-report
QumulusAI makes and sells software and computing services. It took in $13.2M last year, which makes it a small company. It spends more than it earns — losing about 41 cents on every dollar of sales.
The financial picture is led by growth, with accounting worth watching, while profitability and debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 0.37
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From QumulusAI, Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Revenue
$8.1M → $13.2M
Gross profit
$2.7M → $6.5M
Operating income
-$7.8M → -$11.2M
Profit
-$13.2M → -$5.4M
Measured against FY2024, from the annual-report
Improved: +62.5%
$8.1M to $13.2MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
How the latest move compares (quote live), and what was published around it
QMLS fell 6.16% on the latest quote. The average Technology company tracked here moved +0.44%, and the S&P 500 −0.47%. That is 6.6 points below its sector and 5.7 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 7 analysts covering this company, as of . Their views, not this site's.
Of 7 analysts publishing on this company, 2 say strong buy, 4 say buy and 1 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $5.4M last year, losing about 41 cents on every dollar of sales.
Yes, quickly. Sales grew 62.5% last year.
Yes — it carries debt while operations are consuming cash rather than generating it. For every $1 it owes, it owns $3.47 in assets. Its operating profit does not cover its interest bill — -5.81x against the interest it owes. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it lost $5.4M and generated -$5.7M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY2025annual-report | FY2024annual-report | FY2023annual-report | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|
| RevenueWhat is this? | $13.2M | $8.1M | $5.1M | +62.5% |
| Cost of revenue | $6.7M | $5.4M | $3.6M | +24.8% |
| Gross profit | $6.5M | $2.7M | $1.5M | +136.9% |
| Gross marginGross profit ÷ revenueWhat is this? | 49.1% | 33.7% | 30.1% | +15.4 pts |
| Selling, general and administrative | $11.4M | $3.3M | $1.9M | +251.3% |
| Operating income | -$11.2M | -$7.8M | -$8.2M | −44.1% |
| Operating marginOperating income ÷ revenueWhat is this? | -85.3% | -96.2% | -159.6% | +10.9 pts |
| Interest expense | $1.9M | $1.1M | $1.2M | +72.4% |
| Income before tax | -$4.8M | -$13.2M | -$11.8M | +63.4% |
| Net income | -$5.4M | -$13.2M | -$12.4M | +58.9% |
| Net marginNet income ÷ revenueWhat is this? | -41.2% | -162.9% | -242.5% | +121.7 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.1718 | $-0.418 | $-0.394 | +58.9% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Gifted shares — 15,000 shares
Holds 1,424,656 shares after this filing.
Gifted shares — 15,000 shares
Holds 5,651,909 shares after this filing.
15 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Made a Regulation FD disclosure
Read the filingQuarterly report on Form 10-Q/A
Read the filingWrite down why you are following QumulusAI, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
QumulusAI Expands Closed Lease Financing With TFC to $123.6 Million, Funding Its NVIDIA Blackwell GPUs Without New Equity
Yahoo ·
QumulusAI Expands Equipment Lease Financing With Tech Finance From $26M To ~$123.6M; Three-Year Leases Fund Nvidia Blackwell GPUs Purchased In May And July 2026
Benzinga ·
B. Riley Securities Initiates Coverage On QumulusAI with Buy Rating, Announces Price Target of $11
Benzinga ·
12 Information Technology Stocks Moving In Tuesday's Pre-Market Session
Benzinga ·
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from QMLS's annual-report for fiscal year 2025 (period ending 2025-12-31), reported under the US GAAP taxonomy.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Every check behind the three models, and what each one tests
5 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
0.37
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-1.88
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Improved: +136.9%
$2.7M to $6.5MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: $3.4M wider
-$7.8M to -$11.2MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $7.8M narrower
-$13.2M to -$5.4MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +15.4 pts
33.7% to 49.1%Critical
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +10.9 pts
-96.2% to -85.3%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +121.7 pts
-162.9% to -41.2%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: $15.4M wider
-$4.9M to -$20.3MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: $0.25 narrower
-$0.42 to -$0.17Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +59.6%
$3.9M to $6.2MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +195.0%
$4.0M to $11.7MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +412.0%
$2.9M to $14.6MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
1 other measure barely moved. Figures compare the two most recent annual filings. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 3.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Was granted or awarded shares — 8,681 shares
Holds 113,033 shares after this filing.
Was granted or awarded shares — 8,681 shares
Holds 27,847 shares after this filing.
Was granted or awarded shares — 8,681 shares
Holds 32,477 shares after this filing.
Was granted or awarded shares — 17,361 shares
Holds 46,267 shares after this filing.
Was granted or awarded shares — 8,681 shares
Holds 24,302 shares after this filing.
Was granted or awarded shares — 9,583 shares
Holds 14,213 shares after this filing.
Was granted or awarded shares — 9,583 shares
Holds 23,796 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report on Form 10-Q
Published results
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingChanged the rights attached to its shares · Had a director or senior officer leave or join · Amended its charter or changed its financial year
Read the filingMade a Regulation FD disclosure
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingCompass Point Initiates Coverage On QumulusAI with Buy Rating, Announces Price Target of $9
Benzinga ·
Primary sources and further research