Sphere 3D Corp (ANY)
NASDAQ:ANY
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Sphere 3D
(NASDAQ:ANY)
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Rating:44Neutral
Price Target:
$1.50
▲(782.35% Upside)
Action:ReiteratedDate:03/28/26
The score is held down primarily by weak financial performance (persistent losses and worsening cash burn) and a bearish technical setup (price below key moving averages with negative MACD). Corporate events provide a modest offset via improved Nasdaq listing stability and a pending strategic merger, while valuation is difficult to assess given negative earnings and no dividend yield provided.
Positive Factors
Debt-free balance sheet
A debt-free capital structure materially reduces interest expense and leverage risk, providing durable financial flexibility. Over the next several months this lowers bankruptcy and refinancing risk, preserves optionality to fund operations or mergers, and improves resilience while cash flow remains weak.
Negative Factors
Persistent negative cash generation
Consistent negative operating and free cash flow is a durable structural weakness that increases reliance on external financing, heightens dilution risk, and constrains reinvestment in rigs or facilities. Without sustained positive cash generation, growth or integration risks remain amplified.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure materially reduces interest expense and leverage risk, providing durable financial flexibility. Over the next several months this lowers bankruptcy and refinancing risk, preserves optionality to fund operations or mergers, and improves resilience while cash flow remains weak.
Read all positive factors
Sphere 3D (ANY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.91M
Dividend YieldN/A
Average Volume (3M)214.43K
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth-32.68%
EPS Growth-45.29%
CountryUS
Employees2
SectorFinancial
Sector Strength70
IndustrySoftware - Application
Share Statistics
EPS (TTM)-74.22
Shares Outstanding3,767,086
10 Day Avg. Volume120,133
30 Day Avg. Volume214,426
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.04
Price to Sales (P/S)0.08
P/FCF Ratio-0.04
Enterprise Value/Market Cap0.10
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit0.77
Enterprise Value/Ebitda-0.08
Forecast
1Y Price Target
$3.00Price Target Upside1664.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-3.2
Revenue Forecast (FY)$14.90M
Sphere 3D Business Overview & Revenue Model
Company Description
Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. It also provides data management solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional ser...
How the Company Makes Money
null...
Sphere 3D Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.18M | 16.61M | 21.91M | 6.08M | 3.72M |
| Gross Profit | -4.25M | 3.23M | 5.96M | 2.66M | 2.00M |
| EBITDA | -5.64M | -2.21M | -15.94M | -164.48M | -11.10M |
| Net Income | -21.48M | -9.47M | -23.41M | -192.80M | -17.29M |
Balance Sheet | |||||
| Total Assets | 25.12M | 43.23M | 49.85M | 83.02M | 275.92M |
| Cash, Cash Equivalents and Short-Term Investments | 6.97M | 12.96M | 1.57M | 1.34M | 54.35M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.80M | 3.91M | 9.54M | 38.45M | 6.30M |
| Stockholders Equity | 23.32M | 39.31M | 40.32M | 34.87M | 269.63M |
Cash Flow | |||||
| Free Cash Flow | -23.62M | -13.52M | -8.14M | -48.71M | -130.76M |
| Operating Cash Flow | -16.12M | -4.58M | -6.58M | -30.77M | -28.52M |
| Investing Cash Flow | 9.99M | 4.03M | 2.56M | -22.04M | -122.69M |
| Financing Cash Flow | 4.41M | 5.39M | 3.06M | 0.00 | 205.10M |
Sphere 3D Technical Analysis
Positive
0.17
Price Trends
1.48
Positive
2.57
Negative
4.60
Negative
Market Momentum
-0.03
Negative
49.06
Neutral
51.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANY, the sentiment is Positive. The current price of 0.17 is below the 20-day moving average (MA) of 1.45, below the 50-day MA of 1.48, and below the 200-day MA of 4.60, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 49.06 is Neutral, neither overbought nor oversold. The STOCH value of 51.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANY.
Sphere 3D Risk Analysis
Sphere 3D disclosed 54 risk factors in its most recent earnings report. Sphere 3D reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sphere 3D Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
49 Neutral | $40.90M | -3.85 | -32.23% | ― | 12.54% | -140.32% | |
45 Neutral | $11.38M | -0.58 | -91.15% | ― | -35.83% | 53.49% | |
44 Neutral | $5.91M | -0.04 | -73.89% | ― | -32.68% | -45.29% | |
43 Neutral | $14.34M | -2.07 | -147.57% | ― | 271.41% | -19.81% |
* Financial Sector Average
ANY
Sphere 3D
1.47
-4.53
-75.51%
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Sphere 3D Corporate Events
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Sphere 3D to Merge with Cathedra Bitcoin
Positive
Mar 11, 2026
On March 5, 2026, Sphere 3D and Cathedra Bitcoin agreed to combine in an all-stock transaction that will make Cathedra a wholly owned subsidiary of Sphere and leave the merged group listed on Nasdaq under the Sphere 3D name. Cathedra securityholde...
Delistings and Listing ChangesRegulatory Filings and Compliance
Sphere 3D Regains Nasdaq Compliance, Averting Delisting Risk
Positive
Feb 27, 2026
Sphere 3D Corp., which trades on The Nasdaq Capital Market, had previously fallen out of compliance with Nasdaq Listing Rule 5550(a)(2) after receiving notice on March 6, 2025, that its share price was below the required $1.00 minimum bid. On Febr...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingShareholder MeetingsStock Split
Sphere 3D Completes Reverse Stock Split to Support Nasdaq
Positive
Feb 12, 2026
Sphere 3D Corp., a Nasdaq-listed Bitcoin miner, has focused on scaling its digital asset operations via capital-efficient purchases of next-generation mining rigs and collaborations with data center operators. The company emphasizes mining efficie...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.