DRK · XBRL financial data
DarkHorse Technologies financial statements, every fiscal year
The same tables from 8 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (DRK's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | †Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | †Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 4,848 | 3,720 | 6,077 | 21,906 | 16,608 | 11,181 |
| Cost of goods and services sold | 2,599 | 2,022 | — | — | 13,378 | 8,554 |
| Gross profit | 2,249 | 1,698 | 2,660 | 5,962 | — | — |
| Research and development | 1,202 | 971 | 605 | 1,026 | 0 | — |
| General and administrative | 5,471 | 18,308 | 24,134 | 15,825 | 12,445 | 8,266 |
| Total operating expenses | 8,214 | 21,416 | 163,749 | 51,905 | 38,019 | — |
| Other operating income (expense) | — | — | — | 1,062 | 3,111 | 81 |
| Operating income (loss) | (5,965) | (19,718) | (157,672) | (29,999) | (21,411) | (21,999) |
| Interest expense | 274 | 21 | 0 | 1,183 | 0 | — |
| Other income (expense) | 918 | 2,930 | 2,600 | 1,062 | — | — |
| Income tax expense (benefit) | 4 | (15) | 166 | 13 | 150 | 2 |
| Net income (loss) | (5,779) | (17,289) | (192,801) | — | (9,470) | (21,482) |
| Earnings per share, basic‡ USD per share | — | (290.00) | (1,455.00) | (19.30) | (4.80) | (73.70) |
| Earnings per share, diluted‡ USD per share | — | (290.00) | (1,455.00) | (19.30) | (4.80) | (73.70) |
| Weighted average shares, basic‡ thousands of shares | — | 62 | 133 | 1,213 | 1,980 | 291 |
| Weighted average shares, diluted‡ thousands of shares | — | 62 | 133 | 1,213 | 1,980 | 291 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-7.142857142857142 stock split (June 2023); filings made before it reported them unadjusted.
- ‡ Per-share figures and share counts are adjusted for the 1-for-7.000007000007 stock split (September 2023); filings made before it reported them unadjusted.
- ‡ Per-share figures and share counts are adjusted for the 1-for-10 stock split (June 2026); filings made before it reported them unadjusted.
- † Share count changed about 8x in the period ending 2021-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 12x in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 1/7 in the period ending 2025-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Balance sheet
CSVFiscal years (DRK's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | †Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | †Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 461 | 54,355 | 1,337 | 586 | 5,425 | 3,707 |
| Short-term investments | — | — | — | 0 | — | — |
| Accounts receivable | 264 | 181 | 174 | 0 | — | 0 |
| Inventory | 558 | 0 | — | — | — | — |
| Total current assets | 2,090 | 78,422 | 10,284 | 13,510 | 17,787 | 8,677 |
| Property and equipment, net | 0 | 0 | 34,259 | 24,166 | 21,967 | 14,608 |
| Right-of-use asset | 0 | 0 | 418 | 0 | — | 0 |
| Goodwill | 1,385 | 0 | — | — | — | 0 |
| Total assets | 11,833 | 275,924 | 83,016 | 45,663 | 43,228 | 25,120 |
| Accounts payable | 1,976 | 1,252 | 2,993 | 2,374 | 1,167 | 427 |
| Accrued liabilities | 958 | 3,250 | 1,537 | 1,179 | 1,299 | 544 |
| Total current liabilities | 5,805 | 5,208 | 6,200 | 5,346 | 3,895 | 1,802 |
| Lease liability, non-current | — | — | — | — | — | 0 |
| Total liabilities | 6,824 | 6,298 | 11,984 | 5,346 | — | 1,802 |
| Accumulated deficit | (197,375) | (215,195) | (419,732) | (447,371) | (456,821) | (478,303) |
| Total stockholders' equity | 5,009 | 269,626 | 34,871 | 26,523 | 39,315 | 23,300 |
| Total liabilities and equity | 11,833 | 275,924 | 83,016 | 45,663 | 43,228 | 25,120 |
| Common shares outstanding (cover page)‡ thousands of shares | 16 | 127 | 148 | 1,780 | 2,618 | 377 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-7.142857142857142 stock split (June 2023); filings made before it reported them unadjusted.
- ‡ Per-share figures and share counts are adjusted for the 1-for-7.000007000007 stock split (September 2023); filings made before it reported them unadjusted.
- ‡ Per-share figures and share counts are adjusted for the 1-for-10 stock split (June 2026); filings made before it reported them unadjusted.
- † Share count changed about 8x in the period ending 2021-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 12x in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 1/7 in the period ending 2025-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Cash flows
CSVFiscal years (DRK's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | †Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | †Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (5,779) | (17,289) | (192,801) | — | (9,470) | (21,482) |
| Stock-based compensation | 5 | 366 | 8,459 | 2,430 | 2,838 | 832 |
| Depreciation and amortization | 971 | 5,685 | 28,263 | 6,190 | 7,113 | 6,878 |
| Net cash from operating activities | (2,582) | (28,518) | (30,771) | (6,582) | (4,576) | (16,118) |
| Purchases of property and equipment | 0 | 102,238 | 17,631 | 1,561 | 8,944 | 7,499 |
| Net cash from investing activities | (2,000) | (122,693) | (22,041) | 2,561 | 4,028 | 9,992 |
| Proceeds from issuing common stock | — | — | — | 0 | 5,495 | 733 |
| Proceeds from issuing equity | 364 | — | — | — | — | — |
| Net cash from financing activities | 4,896 | 205,105 | 0 | 3,064 | 5,387 | 4,408 |
| Net change in cash | 312 | 53,894 | (52,812) | (957) | 4,839 | (1,718) |
- † Share count changed about 8x in the period ending 2021-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 12x in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 1/7 in the period ending 2025-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Compare with peers
SIC 6199 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6199 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($K) | Revenue, quarter ($K) | Operating cash flow, quarter ($K) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| DarkHorse Technologies | 2,846 | 2,452 | (5,305)* | 8.7M | 0.5 quarters | 10-QJun 30, 2026 |
| LM Funding America | 854 | 2,117 | (3,934)* | 1.8M | 0.2 quarters | 10-QJun 30, 2026 |
| Vulcan Infrastructure & Power | 3,197 | 3,385 | (4,341)* | 18.0M | 0.7 quarters | 10-QJun 30, 2026 |
| USBC | 2,982 | not reported | (8,168)* | 388.1M | 0.4 quarters | 10-QJun 30, 2026 |
| FG Nexus | 24,923 | 242 | (4,543)* | 5.1M | 5.5 quarters | 10-QJun 30, 2026 |
| TAO Synergies | 2,368 | 89 | (875)* | 7.5M | 2.7 quarters | 10-QJun 30, 2026 |
| Marblegate Capital | 7,312 | 16,681 | (5,202)* | 73.9M | 1.4 quarters | 10-QJun 30, 2026 |
| MDB Capital Holdings | 9,581 | not reported | (2,595)* | 5.4M | 3.7 quarters | 10-QJun 30, 2026 |
| ZeroStack | 2,640 | 13,658 | 1,373* | 17.5M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.