Hypha Labs (FUNI) AI Stock Analysis

• Market Cap: $5.13M
• Dividend Yield: N/A
• Average Volume (3M): 115.83K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.03
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 5
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): N/A
• Shares Outstanding: 162,521,820
• 10 Day Avg. Volume: 142,592
• 30 Day Avg. Volume: 115,825
• PEG Ratio: >-0.01
• Price to Book (P/B): -1.47
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.46
• Enterprise Value/Market Cap: 1.23
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -3.85
• 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: 41 Neutral
• Price Target: $0.03 ▼(-20.00% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily held down by very weak financial performance (zero revenue, sizable losses, negative equity, and continued cash burn). Technical indicators also lean bearish (negative MACD, RSI in the mid-30s, and price below short-term moving averages). Valuation provides little support given the negative P/E and lack of dividend yield.

Positive Factors

Improving cash-flow trend

TTM free cash flow remains negative but shows improvement versus the prior year, indicating management has reduced burn. That trend, if sustained, lowers near-term refinancing pressure and extends runway, offering a more durable path to stability while revenue remains absent.

Historical path to profitability

A prior profitable year demonstrates the business can achieve positive operating results under certain conditions. This suggests operational levers or market opportunities exist that could be scaled with disciplined execution, making profitability an achievable structural objective.

Lean operating structure

A very small headcount implies low fixed payroll overhead and operational flexibility. Structurally, a lean team reduces cash required for operations, facilitates pivots, and preserves runway—helpful across multiple months while the company addresses commercialization and funding.

Negative Factors

Zero revenue run-rate

No reported revenue in the trailing period indicates the company lacks recurring sales or commercial traction. Absent material product commercialization, the firm cannot organically fund operations, making sustained external financing or a strategic pivot necessary for long-term viability.

Negative equity and thin asset base

Persistent negative shareholders' equity and minimal assets relative to obligations signal elevated solvency and refinancing risk. Over the medium term, this limits financial flexibility, raises creditor concerns, and increases the probability of dilutive or costly capital raises if losses continue.

Continued cash burn

Ongoing negative operating and free cash flows mean the company consumes resources each period. Structurally, sustained burn requires repeated external financing, constrains investment in product development or commercialization, and elevates execution and dilution risks over months.

Hypha Labs Business Overview & Revenue Model

Company Description

Hypha Labs, Inc., engages in the research, development, and commercialization of a bioreactor in the United States. It offers Hypha Micropearl bioreactor, a home appliance designed to accelerate the production of beneficial mushrooms for human consumption. Hypha Labs, Inc. was incorporated in 2010 and is headquartered in Las Vegas, Nevada.

How the Company Makes Money

Hypha Labs Financial Statement Overview

Summary

Financial performance is extremely weak: TTM shows zero revenue, large operating and net losses, negative equity, and ongoing negative operating and free cash flow. Reduced cash burn versus the prior year is a modest positive, but overall results indicate high funding and execution risk.

Income Statement

Operating performance is very weak. TTM (Trailing-Twelve-Months) shows zero revenue with a large operating loss (EBIT of about -$1.7M) and a net loss of about -$2.3M, indicating the business is not currently generating sales while still carrying a significant cost base. Profitability has been volatile historically (including a one-time profitable year in 2023), but the trend from 2024 through TTM has reverted to sizable losses, and the latest annual period (2025) also reports zero revenue with deep negative earnings.

Balance Sheet

Balance sheet risk is elevated due to persistent negative equity. In TTM (Trailing-Twelve-Months), equity is about -$2.35M against total debt of about $1.75M and total assets of about $0.39M, implying a thin asset base relative to obligations and limited financial flexibility. While debt levels have moved around year to year, the consistent deficit in equity suggests ongoing reliance on external funding and raises refinancing/going-concern risk if losses continue.

Cash Flow

Cash generation is weak with continued cash burn. TTM (Trailing-Twelve-Months) operating cash flow is about -$0.52M and free cash flow is about -$0.55M, indicating the core business is consuming cash. A positive point is that free cash flow burn appears to have improved versus the prior year (free cash flow growth is positive in TTM), but cash flows remain negative overall and will likely require funding support until revenue ramps.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	2.70M	2.50M
Gross Profit	0.00	0.00	0.00	0.00	1.07M	715.16K
EBITDA	-1.64M	-2.95M	-1.37M	-58.24K	-1.73M	-249.00K
Net Income	-2.28M	-3.10M	-785.00K	246.77K	-2.06M	-687.00K
Balance Sheet
Total Assets	391.60K	409.22K	493.81K	1.41M	1.34M	1.89M
Cash, Cash Equivalents and Short-Term Investments	42.85K	38.12K	91.17K	271.01K	56.17K	295.93K
Total Debt	1.75M	1.65M	1.14M	2.29M	2.35M	2.79M
Total Liabilities	2.74M	2.51M	1.42M	3.28M	4.08M	2.94M
Stockholders Equity	-2.35M	-2.10M	-926.69K	-1.87M	-2.41M	-1.05M
Cash Flow
Free Cash Flow	-553.50K	-412.94K	-1.42M	112.53K	-202.51K	-192.17K
Operating Cash Flow	-522.27K	-379.98K	-1.39M	112.53K	-184.79K	-135.97K
Investing Cash Flow	-31.24K	-32.97K	2.15M	263.33K	-660.37K	-286.21K
Financing Cash Flow	559.78K	359.89K	-1.28M	-161.02K	605.39K	635.36K

Hypha Labs Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EVAX	50 Neutral	$20.97M	-0.37	―	―	4455.07%	77.31%
AEMD	43 Neutral	$2.75M	-0.04	-191.39%	―	―	76.53%
ENVB	42 Neutral	$3.11M	-0.03	-262.78%	―	―	79.45%
FUNI	41 Neutral	$5.13M	-2.04	―	―	―	―
NBY	41 Neutral	$56.28M	-0.34	-587.58%	―	-74.73%	95.81%