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Heritage Distilling Holding Company, Inc.
(NASDAQ:CASK)
Heritage Distilling Holding Company, Inc. (CASK) vs. SPDR S&P 500 ETF (SPY)
Heritage Distilling Holding Company, Inc. Business Overview & Revenue Model
Heritage Distilling Holding Company, Inc. Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.79M | 8.40M | 7.97M | 8.31M | 8.29M |
| Gross Profit | 1.99M | 2.13M | 2.15M | 2.21M | 2.24M |
| EBITDA | -4.62M | -14.92M | -32.34M | -7.76M | -3.30M |
| Net Income | -2.78M | 710.46K | -36.80M | -12.27M | -7.22M |
Balance Sheet | |||||
| Total Assets | 27.06M | 28.00M | 26.27M | 27.96M | 24.90M |
| Cash, Cash Equivalents and Short-Term Investments | 99.54K | 453.16K | 76.88K | 223.03K | 205.28K |
| Total Debt | 16.98M | 17.18M | 56.38M | 26.66M | 14.27M |
| Total Liabilities | 27.39M | 27.21M | 69.69M | 34.59M | 19.69M |
| Stockholders Equity | -328.98K | 791.77K | -43.42M | -6.63M | 5.21M |
Cash Flow | |||||
| Free Cash Flow | -10.74M | -11.32M | -8.51M | -9.94M | -8.88M |
| Operating Cash Flow | -10.59M | -11.22M | -8.48M | -9.30M | -7.69M |
| Investing Cash Flow | -41.08K | -101.33K | -24.11K | -614.38K | -1.19M |
| Financing Cash Flow | 10.27M | 11.69M | 8.36M | 9.93M | 8.88M |
Heritage Distilling Holding Company, Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.24B | 14.40 | 10.15% | 3.69% | 13.92% | 32.69% | |
74 Outperform | $2.35B | 30.44 | 8.15% | ― | 2.46% | -7.28% | |
68 Neutral | $9.97B | 10.16 | 7.79% | 3.56% | -5.48% | -6.99% | |
56 Neutral | $6.56B | -1.65 | 0.45% | 6.25% | 14.92% | 10.98% | |
48 Neutral | ― | ― | ― | ― | |||
40 Underperform | $3.97M | ― | 191.27% | ― | -80.75% | -151.46% | |
| ― | $9.24M | ― | -190.14% | ― | ― | ― |
Heritage Distilling Holding Company, Inc. Corporate Events
On August 25, 2025, Heritage Distilling announced the completion of a $223.8 million private placement, which included a $19.3 million reduction in liabilities and the acquisition of over 53.2 million $IP tokens valued at more than $320 million. This financial restructuring, which eliminated all senior secured debt, strengthens the company’s balance sheet and positions it for growth in both its core distilling operations and the emerging IP tokenization sector. The transaction is expected to enhance operational flexibility and support expansion plans, with the $IP tokens serving as a strategic reserve asset and exposure to the growing programmable IP infrastructure.
On August 15, 2025, Heritage Distilling Holding Company, Inc. completed a private placement offering, selling pre-funded warrants to purchase 370,378,890 shares of common stock for $223.8 million. The proceeds will be used for corporate purposes, debt repayment, and to establish a cryptocurrency treasury, with a focus on $IP Tokens as a primary reserve asset.
On August 11, 2025, Heritage Distilling Holding Company, Inc. announced a $220 million private placement offering to establish a treasury strategy focused on $IP tokens, the native token of the Story network. This strategic move, supported by Story Foundation and prominent investors like a16z crypto, marks Heritage as the first Nasdaq-listed company to adopt $IP as its primary reserve asset, reflecting a shift in how public companies approach strategic reserves. The transaction is expected to close on August 13, 2025, and aims to position Heritage at the forefront of the tokenized intellectual property economy, aligning with transformative technologies in AI and blockchain.
Heritage Distilling Holding Company, Inc. entered into a securities purchase agreement with C/M Capital Master Fund, LP on January 23, 2025, allowing the company to sell up to $15 million of newly-issued shares of its common stock. Between February 19, 2025, and July 30, 2025, the company sold approximately 11.96 million shares for gross proceeds of about $4.82 million, impacting its financial operations by increasing the number of outstanding shares to over 23.62 million.
On June 24, 2025, Heritage Distilling Holding Company, Inc. held its 2025 Annual Meeting where stockholders approved an amendment to increase the number of authorized shares of capital stock by 420,000,000, bringing the total to 495,000,000 shares. This decision, supported by approximately 96% of the votes cast, was part of eight proposals voted on during the meeting. The amendment was filed and became effective the same day, indicating a strategic move to potentially expand the company’s capital structure and enhance its financial flexibility.
On June 12, 2025, Heritage Distilling Holding Company, Inc. filed an amendment to increase the authorized shares of its Series B Convertible Preferred Stock from 750,000 to 850,000. This move aims to correct typographical errors and enhance the company’s capital structure, potentially impacting its financial flexibility and shareholder value.
On June 10, 2025, Heritage Distilling Holding Company, Inc. presented at an investor conference, where CEO Justin Stiefel discussed the company’s recent cryptocurrency initiatives. These include the formation of a Technology and Cryptocurrency Committee, the adoption of a Cryptocurrency Treasury Reserve Policy, and the launch of new products like Bitcoin Bourbon and House of Doge Bourbon. The company is exploring financing opportunities tied to its cryptocurrency policy, though there is no guarantee of successful transactions. These moves reflect Heritage’s strategy to integrate cryptocurrency into its operations and connect with consumers interested in crypto commerce.
On June 9, 2025, Heritage Distilling announced a collaboration with House of Doge to launch the House of Doge™ Bourbon, a Dogecoin-inspired Kentucky straight bourbon whiskey. This partnership marks a unique blend of cryptocurrency and craft distilling, reflecting Heritage’s strategy to integrate cryptocurrency into its operations and engage with crypto-savvy consumers. The company also introduced a Cryptocurrency Treasury Reserve Policy and a ‘Dogecoin Giveaway’ contest, offering a chance to win Dogecoin equivalent to one Bitcoin. This initiative underscores Heritage’s commitment to innovation and its vision of reshaping brand engagement in a decentralized future.
Between February 21, 2025, and May 29, 2025, Heritage Distilling Holding Company, Inc. entered into subscription and securities purchase agreements with 14 accredited investors, raising $6,421,377 through the sale of Series B Convertible Preferred Stock. The transaction involved the issuance of 642,137 shares of Series B Preferred Stock, which are convertible into common stock, and included the issuance of warrants for additional shares, reflecting strategic financial maneuvers to enhance capital structure.
On June 3, 2025, Heritage Distilling announced the launch of Bitcoin Bourbon™, a limited-edition whiskey celebrating digital currency culture and e-commerce’s future. Coinciding with a new Cryptocurrency Treasury Reserve Policy, the company will accept Bitcoin as payment and may hold it as a strategic asset. This initiative, including a Bitcoin giveaway contest, aligns with Heritage’s strategy to integrate cryptocurrency into its operations and engage with a values-driven community.