Bolt Projects Holdings (BSLK) AI Stock Analysis

• Market Cap: $1.52M
• Dividend Yield: N/A
• Average Volume (3M): 967.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.73
• Revenue Growth: 62620.00%
• EPS Growth: -3469.28%
• Country: US
• Employees: 14
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Shell Companies
• EPS (TTM): -2.70
• Shares Outstanding: 4,366,123
• 10 Day Avg. Volume: 2,770,905
• 30 Day Avg. Volume: 967,274
• PEG Ratio: <0.01
• Price to Book (P/B): -0.88
• Price to Sales (P/S): 5.54
• P/FCF Ratio: -0.47
• Enterprise Value/Market Cap: 11.79
• Enterprise Value/Revenue: 5.71
• Enterprise Value/Gross Profit: 180.80
• Enterprise Value/Ebitda: -0.79
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $0.48 ▼(-67.36% Downside)

The score is held down primarily by weak financial performance (large losses, cash burn, and negative equity) and strongly bearish technicals (price far below moving averages with negative MACD). A positive corporate update (surging preliminary revenue, improving margins, and raised 2026 outlook) helps offset the weakness, but financing and Nasdaq listing risks remain significant, while valuation signals are limited due to a negative P/E and no dividend.

Positive Factors

Revenue Growth & Margin Improvement

Tripling of revenue to roughly $4.5M and a Q4 gross margin above 20% signal growing product adoption and materially improved unit economics. Sustained top-line expansion with positive gross margins strengthens operating leverage, supports reinvestment, and improves the odds of durable profitability over multiple quarters.

Raised Guidance & Product Pipeline

Management’s upgraded 2026 targets and a planned new ingredient reflect a concrete growth roadmap and evidence of product pipeline progress. If execution holds, this expands the addressable market and revenue visibility, enabling more predictable scaling and strengthening longer-term business momentum beyond short-term fluctuations.

Diversified Holding Model

Operating as a diversified holding company across technology, real estate, and renewables provides multiple, distinct revenue streams (rent, dividends, consulting, product sales). This structural diversification reduces single-market dependence, smooths cash flows, and increases resilience to sector-specific downturns over the medium term.

Negative Factors

Negative Shareholders' Equity

Persistently negative shareholders’ equity indicates capital erosion and weak capitalization. This condition limits borrowing capacity, heightens the likelihood of creditor pressure or covenant breaches, and typically forces dilutive recapitalizations or restructurings, undermining long-term financial flexibility and stability.

Weak Cash Generation

Ongoing negative operating and free cash flow shows the business is not self-funding its operations. Persistent cash burn necessitates external financing to sustain operations, constrains the ability to invest in growth, and raises execution risk if capital access tightens over the coming months.

Financing Needs & Nasdaq Compliance Risk

Reliance on up to $30M of convertible notes and unresolved Nasdaq compliance creates structural funding and market-access risk. Convertible financings can be dilutive and increase leverage, while listing noncompliance reduces liquidity and raises the prospect of disruptive recapitalizations that materially affect long-term governance and financing costs.

Bolt Projects Holdings Business Overview & Revenue Model

Company Description

Bolt Projects Holdings, Inc. operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.

How the Company Makes Money

Bolt Projects Holdings generates revenue through multiple streams, primarily by leveraging its investments in subsidiary companies across various sectors. The company earns money through equity stakes in these businesses, receiving dividends and profit distributions. Additionally, BSLK engages in strategic partnerships with other firms to co-develop projects, which can lead to shared revenue opportunities. Consulting services related to technology and renewable energy projects also contribute to its income, as the company provides expert guidance to other businesses looking to optimize their operations. Furthermore, real estate investments yield rental income and capital gains, adding to the overall financial health of the company.

Bolt Projects Holdings Financial Statement Overview

Summary

Bolt Projects Holdings faces significant financial challenges with declining revenues, negative profitability, and high leverage. The negative equity and reliance on external financing highlight financial instability. Immediate strategic actions are required to improve operational efficiency and financial health.

Income Statement

Bolt Projects Holdings has experienced declining revenues and negative profitability over the years. The gross profit margin is negative, indicating that the cost of goods sold exceeds revenue. Net income has consistently been negative, and the EBIT and EBITDA margins are also negative, reflecting operational challenges and inefficiencies.

Balance Sheet

The company has a negative stockholders' equity, indicating more liabilities than assets, which is a significant financial risk. The debt-to-equity ratio is not calculable due to negative equity, but the high total liabilities relative to assets suggest high leverage. The equity ratio is negative, further highlighting financial instability.

Cash Flow

Cash flow from operations is negative, and free cash flow is consistently negative, indicating cash outflows exceed inflows. The company relies on financing activities to sustain operations, which may not be sustainable long-term. The operating cash flow to net income ratio is negative, reflecting poor cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.14M	1.37M	3.44M	346.00K	305.00K
Gross Profit	99.00K	-93.00K	-1.41M	-388.00K	-575.00K
EBITDA	-22.75M	-63.89M	-52.08M	-51.40M	-27.62M
Net Income	-24.28M	-65.39M	-57.72M	-51.70M	-38.50M
Balance Sheet
Total Assets	11.13M	12.23M	24.27M	77.84M	104.86M
Cash, Cash Equivalents and Short-Term Investments	4.75M	3.51M	894.00K	22.93M	57.04M
Total Debt	12.91M	13.19M	33.53M	54.73M	29.10M
Total Liabilities	23.88M	20.84M	136.81M	396.26M	372.90M
Stockholders Equity	-12.75M	-8.61M	-112.54M	-318.42M	-268.04M
Cash Flow
Free Cash Flow	-5.35M	-16.17M	-30.19M	-63.97M	-48.52M
Operating Cash Flow	-5.34M	-16.15M	-29.23M	-55.88M	-36.11M
Investing Cash Flow	-13.00K	-23.00K	-678.00K	-8.09M	8.52M
Financing Cash Flow	3.66M	18.81M	5.55M	29.83M	69.41M

Bolt Projects Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BSLK, the sentiment is Negative. The current price of 1.48 is above the 20-day moving average (MA) of 1.03, below the 50-day MA of 1.64, and below the 200-day MA of 3.49, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 17.73 is Positive, neither overbought nor oversold. The STOCH value of 9.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BSLK.

Bolt Projects Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BSLK	43 Neutral	$1.52M	-0.03	―	―	62620.00%	-3469.28%

Bolt Projects Holdings Corporate Events

Bolt Projects Holdings Reports Strong Preliminary 2025 Results

On December 29, 2025, Bolt Projects Holdings, Inc. reported preliminary, unaudited results indicating fiscal 2025 revenue of about $4.5 million, more than tripling 2024 levels, with fourth-quarter revenue exceeding $2.7 million and gross margin expected above 20%, supported by a sharp margin improvement in the final quarter. The company simultaneously raised its 2026 outlook, lifting revenue guidance to $11 million and gross profit guidance to $4 million, citing better unit economics, expanding adoption of its Vegan Silk ingredients and plans to launch a new ingredient while targeting further cost reductions, even as it continues to pursue up to $30 million in convertible-note financing and work to regain compliance with Nasdaq listing standards after a 2025 delisting notice and extension, developments that could significantly influence its liquidity, growth trajectory and market visibility.

The most recent analyst rating on (BSLK) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Bolt Projects Holdings stock, see the BSLK Stock Forecast page.

Bolt Projects Holdings Updates Bylaws for Modern Governance

On October 17, 2025, Bolt Projects Holdings, Inc. made significant amendments to its bylaws, which were approved by the Board of Directors and became effective immediately. These changes include reducing the quorum needed for stockholder meetings, addressing universal proxy rules, and establishing new procedural requirements for director nominations and business proposals at stockholder meetings. The amendments aim to modernize and clarify the company’s governance structure, potentially impacting how stockholder meetings are conducted and how directors are nominated, thereby affecting the company’s operations and stakeholder engagement.

The most recent analyst rating on (BSLK) stock is a Sell with a $3.50 price target. To see the full list of analyst forecasts on Bolt Projects Holdings stock, see the BSLK Stock Forecast page.