Kindly MD (NAKA) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 30.98M
• Price to Earnings (P/E): ―
• Beta (1Y): 4.44
• Revenue Growth: -31.13%
• EPS Growth: -126.02%
• Country: US
• Employees: 23
• Sector: General
• Sector Strength: N/A
• Industry: Medical - Equipment & Services
• EPS (TTM): N/A
• Shares Outstanding: 431,653,080
• 10 Day Avg. Volume: 32,220,503
• 30 Day Avg. Volume: 30,978,537
• PEG Ratio: -0.01
• Price to Book (P/B): 2.60
• Price to Sales (P/S): 2.46
• P/FCF Ratio: -2.17
• Enterprise Value/Market Cap: 10.00T>
• Enterprise Value/Revenue: 1.53
• Enterprise Value/Gross Profit: 1.55
• Enterprise Value/Ebitda: -0.03
• 1Y Price Target: $1.25
• Price Target Upside: 155.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $0.50 ▲(2.04% Upside)

The overall stock score of 38 reflects significant financial and technical challenges. The company's financial performance is weak, with declining revenues and profitability issues. Technical analysis indicates bearish momentum, and valuation metrics are unattractive due to negative earnings. These factors collectively contribute to a low stock score.

Positive Factors

High Gross Profit Margin

A high gross profit margin indicates efficient cost management in production, suggesting potential for profitability improvement if revenue growth is achieved.

Moderate Debt Level

Moderate leverage allows financial flexibility and reduces risk, enabling the company to potentially invest in growth opportunities without excessive financial strain.

Equity Ratio Improvement

Improved equity ratio suggests better asset financing through equity, enhancing financial stability and reducing dependency on debt financing.

Negative Factors

Negative Revenue Growth

Declining revenue growth indicates challenges in market demand or competitive positioning, potentially impacting long-term financial health and market share.

Negative Profit Margins

Substantial losses reflected in negative profit margins highlight operational inefficiencies, requiring strategic cost management and revenue enhancement efforts.

Cash Flow Struggles

Negative cash flow indicates challenges in generating sufficient cash from operations, potentially limiting the company's ability to fund growth and meet financial obligations.

Kindly MD Business Overview & Revenue Model

Company Description

Kindly MD, Inc., a healthcare and healthcare data company, provides direct health care services to patients integrating prescription medicine and behavioral health services. The company offers specialty outpatient clinical services based on a subscription and fee-for-service basis to augment traditional healthcare. It provides evaluation and management services, including chronic pain, functional medicine, cognitive behavioral therapy, trauma and addiction therapy, recovery support, overdose education, peer support, limited urgent care, preventative medicine, travel, and hormone therapy; and data collection and research, and online and email campaign marketing services, as well as engages in the retail sale of health care products through clinics and online. Kindly MD, Inc. was formerly known as Utah Therapeutic Health Center, LLC and changed its name to Kindly MD, Inc. in March 2022. The company was incorporated in 2019 and is based in Salt Lake City, Utah.

How the Company Makes Money

Kindly MD generates revenue primarily through a subscription-based model, where patients pay a monthly fee for access to telehealth services and personal health management tools. Additionally, the company earns income from fee-for-service consultations, where patients are charged per visit with healthcare professionals. Strategic partnerships with insurance companies and healthcare organizations also contribute to revenue, as these partnerships often facilitate bundled services or reimbursements for virtual care. Furthermore, Kindly MD may explore additional revenue streams through the sale of health-related products and wellness programs integrated into their platform.

Kindly MD Financial Statement Overview

Summary

Kindly MD, Inc. is facing significant financial challenges, with declining revenues and profitability issues. Although the balance sheet shows some stability with a moderate debt level, negative equity in 2023 and reliance on financing raise concerns. Cash flow struggles highlight the need for better operational efficiency and cost management to improve financial health.

Income Statement

Kindly MD, Inc. has faced significant challenges in revenue and profit growth. The Gross Profit Margin remains high at 96.95% for 2024, but the Net Profit Margin is negative at -133.00%, indicating substantial losses. The company has faced revenue decline from the previous year, further exacerbating its profitability issues. The negative EBIT and EBITDA margins highlight operational inefficiencies and the need for cost management.

Balance Sheet

The company's Debt-to-Equity Ratio is 0.31, indicating a moderate level of leverage. However, the negative equity in 2023 raises concerns about financial stability. The Return on Equity is not meaningful due to negative equity in 2023, but the Equity Ratio improved to 69.82% in 2024, reflecting better asset financing through equity.

Cash Flow

Cash flow analysis shows a negative Free Cash Flow of -$3.09 million in 2024, indicating cash management struggles. The Operating Cash Flow to Net Income Ratio is negative, reflecting inefficiencies in converting income into cash. The company heavily relies on financing activities to support its cash needs, which may not be sustainable in the long term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.98M	2.72M	3.77M	3.79M	2.50M
Gross Profit	1.96M	2.64M	-264.17K	-595.29K	914.92K
EBITDA	-89.61M	-3.00M	-1.36M	-2.42M	124.74K
Net Income	-90.49M	-3.62M	-1.62M	-2.54M	149.34K
Balance Sheet
Total Assets	692.42M	3.68M	1.10M	947.00K	447.64K
Cash, Cash Equivalents and Short-Term Investments	24.19M	2.27M	525.50K	186.92K	94.69K
Total Debt	203.54M	783.68K	636.38K	391.13K	109.81K
Total Liabilities	214.86M	1.11M	1.21M	565.98K	174.56K
Stockholders Equity	477.56M	2.57M	-108.41K	381.01K	273.09K
Cash Flow
Free Cash Flow	-19.75M	-3.48M	-463.91K	-457.77K	57.84K
Operating Cash Flow	-16.85M	-3.07M	-449.49K	-140.38K	121.44K
Investing Cash Flow	-686.69M	-401.63K	-14.42K	-317.39K	-63.60K
Financing Cash Flow	724.08M	5.22M	802.49K	550.00K	-45.34K

Kindly MD Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NAKA, the sentiment is Negative. The current price of 0.49 is below the 20-day moving average (MA) of 0.59, below the 50-day MA of 0.81, and below the 200-day MA of 6.07, indicating a bearish trend. The MACD of -0.18 indicates Negative momentum. The RSI at 33.32 is Neutral, neither overbought nor oversold. The STOCH value of 42.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NAKA.

Kindly MD Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SILA	69 Neutral	$1.30B	33.39	2.77%	6.79%	3.74%	77.82%
BBNX	62 Neutral	$1.22B	-15.52	-47.52%	―	67.01%	-39.19%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
INBX	55 Neutral	$1.22B	―	-144.07%	―	―	―
EYPT	52 Neutral	$1.13B	―	-98.23%	―	-7.38%	-49.03%
RAPP	44 Neutral	$1.36B	―	-23.41%	―	―	―
NAKA	38 Underperform	―	-0.91	-81.92%	―	-31.13%	-126.02%

Kindly MD Corporate Events

Kindly MD Partners with Antalpha for $250M Debt Facility

On October 7, 2025, KindlyMD announced a strategic partnership with fintech company Antalpha to establish a $250 million convertible debt facility. This collaboration aims to create innovative financing tools for the Bitcoin market, enhancing Bitcoin’s adoption among public companies. The partnership includes a non-binding agreement for Nakamoto, KindlyMD’s subsidiary, to issue secured convertible notes to Antalpha, providing long-term financing with less dilution risk to stockholders. The proceeds will also replace a prior $203 million Bitcoin-secured credit, with the interim financing provided by Antalpha. This initiative marks the first step in a broader effort to develop tailored financial solutions for Bitcoin treasury companies.

The most recent analyst rating on (NAKA) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD Secures $200M Credit Facility for Growth

On September 30, 2025, KindlyMD repaid its $203 million Secured Convertible Debenture to Yorkville Advisors, effectively terminating the related agreements. This move was part of a strategic shift, as the company secured a $200 million credit facility from Two Prime, aimed at enhancing its balance sheet and aligning its capital structure with shareholder interests. The financing allows KindlyMD to pursue long-term growth while preserving its Bitcoin holdings, thus strengthening its position in the healthcare and Bitcoin treasury sectors.

The most recent analyst rating on (NAKA) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD Announces Virtual Annual Meeting Date

Kindly MD, Inc. announced that its 2025 Annual Meeting of Stockholders will be held virtually on December 17, 2025, with October 23, 2025, set as the record date for stockholders entitled to vote. The meeting date has been moved forward by over 30 days from the previous year’s meeting, prompting a new deadline of October 6, 2025, for stockholder proposals and director nominations to be considered for inclusion in the proxy materials.

The most recent analyst rating on (NAKA) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD Announces Debenture Redemption Plan

On September 15, 2025, Kindly MD, Inc. announced its intention to redeem its Secured Convertible Debenture issued on August 15, 2025. The redemption, scheduled for September 29, 2025, will involve a cash payment of 100% of the outstanding principal plus a 1.5% premium, totaling $203,000,000 if not converted by the holder. This move indicates a strategic financial decision by the company, potentially impacting its financial structure and stakeholder relations.

The most recent analyst rating on (NAKA) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD Files Form S-3, Highlights Bitcoin Strategy

On September 15, 2025, Kindly MD, Inc. informed shareholders about filing a Form S-3 on September 12, 2025, which may lead to increased share price volatility. The company emphasized its commitment to its long-term vision and highlighted its strategy to build a Bitcoin-denominated treasury and invest in Bitcoin-focused companies. Kindly MD has achieved significant milestones, including raising $742 million, establishing a 5,700+ BTC treasury, and launching a $5 billion ATM program. The company aims to capitalize on Bitcoin’s mainstream acceptance and expand access to Bitcoin through publicly-traded Bitcoin treasury companies, ultimately enhancing liquidity and shareholder value.

The most recent analyst rating on (NAKA) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD’s Subsidiary Invests in Metaplanet Inc.

On September 9, 2025, KindlyMD’s subsidiary, Nakamoto Holdings, committed to investing up to $30 million in Metaplanet Inc.’s international equity financing. This marks Nakamoto’s largest single investment and its first in an Asian public company with a Bitcoin treasury strategy. The investment aims to support Metaplanet’s efforts to accelerate Bitcoin accumulation and expand its net asset value, with the funding expected on September 16, 2025. The transaction underscores KindlyMD’s strategic focus on integrating Bitcoin into global capital markets, enhancing its positioning in the Bitcoin and healthcare industries.

The most recent analyst rating on (NAKA) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD’s Nakamoto Holdings Invests in Treasury B.V.

On September 4, 2025, Kindly MD‘s subsidiary, Nakamoto Holdings, made a minority investment in Treasury B.V., a Bitcoin treasury company in the Netherlands, marking Nakamoto’s first foreign investment. This move is part of Treasury’s plan to reverse list on Euronext Amsterdam and expand Bitcoin access in European markets. The transaction includes a lock-up agreement and observer rights for Nakamoto, and Treasury plans to establish a strategic advisory board with Kindly MD’s CEO, David Bailey, as a member.

The most recent analyst rating on (NAKA) stock is a Sell with a $3.00 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

Kindly MD Enters $5 Billion Sales Agreement

On August 26, 2025, Kindly MD, Inc. entered into a Sales Agreement with several financial agents, including TD Securities and Cantor Fitzgerald, to offer and sell up to $5 billion of its common stock through an at-the-market offering. This strategic move allows Kindly MD to raise capital flexibly, potentially strengthening its financial position and market presence, while providing agents with a commission of up to 2% on the sales.

The most recent analyst rating on (NAKA) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Kindly MD stock, see the NAKA Stock Forecast page.

KindlyMD Completes Merger with Nakamoto Holdings

On August 14, 2025, KindlyMD completed its merger with Nakamoto Holdings, making Nakamoto a wholly-owned subsidiary and establishing a Bitcoin treasury vehicle. The merger, along with PIPE Financing that raised $540 million, aims to advance Bitcoin adoption in global capital markets and enhance KindlyMD’s strategic positioning. The company announced a new leadership team, including David Bailey as CEO, and plans to focus on acquiring Bitcoin at scale, leveraging Nakamoto’s vision for integrating Bitcoin into capital markets. The merger also resulted in changes to the board of directors and executive roles, with new appointments to drive the company’s growth and Bitcoin strategy.