Base Carbon, Inc. (BCBN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: -100.00%
• EPS Growth: -2.47%
• Country: CA
• Employees: 13
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Asset Management
• EPS (TTM): 0.03
• Shares Outstanding: N/A
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: <0.01
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 1.22
• P/FCF Ratio: 2.10
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 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: 66 Neutral
• Price Target: ―

The overall stock score is driven by positive corporate events that indicate strategic growth and potential profitability improvements. Financial performance shows growth potential but is hindered by profitability challenges. Lack of technical and valuation data limits the assessment.

Positive Factors

Revenue Growth

Consistent revenue from carbon credit sales over multiple quarters indicates a strong and growing market position, enhancing long-term business stability.

Strategic Advances

Strategic project expansions and partnerships enhance Base Carbon's operational efficiency and market reach, supporting sustainable growth in the carbon credit market.

Financial Stability

A strong equity position and low leverage reduce financial risk, providing a stable foundation for long-term growth and investment in new projects.

Negative Factors

Profitability Challenges

Ongoing net losses and negative profitability ratios indicate operational inefficiencies, which could hinder long-term financial health and investment capability.

Negative EBITDA

Negative EBITDA suggests that operational costs are high relative to revenue, which could impact the company's ability to generate sustainable profits over time.

Volatility in Income Statement

While revenue growth is positive, significant volatility in financial performance can create uncertainty, affecting investor confidence and strategic planning.

Base Carbon, Inc. Business Overview & Revenue Model

Company Description

Base Carbon Inc. engages in the business of providing capital, development expertise, and management operating resources to projects involved primarily in voluntary carbon markets and the broader ESG economy. Base Carbon Corp. is based in Toronto, Canada.

How the Company Makes Money

Base Carbon generates revenue primarily through the sale of carbon credits and offsets, which are purchased by businesses looking to comply with regulatory requirements or enhance their sustainability initiatives. The company also earns income through consulting services that help organizations develop and implement effective carbon reduction strategies. Additionally, Base Carbon may engage in partnerships with governments, NGOs, and private enterprises to create carbon trading platforms or joint ventures that capitalize on carbon market opportunities. These partnerships can enhance their market reach and provide access to new customer segments, contributing significantly to their revenue streams.

Base Carbon, Inc. Financial Statement Overview

Summary

Base Carbon, Inc. shows growth potential with significant revenue increase and strong gross profit margin. However, persistent net losses and negative profitability ratios highlight challenges in achieving sustainable profitability. The balance sheet is solid with low leverage, and cash flow has improved, but consistency is needed.

Income Statement

Base Carbon, Inc. shows significant volatility in its income statement. The company experienced a drastic increase in revenue from $0 in 2021 to $28.2 million in 2024, a positive growth trajectory. However, the net profit margin is negative, with a net loss in 2024, indicating profitability challenges. The gross profit margin is strong at 86.4% in 2024, suggesting efficient cost management, but negative EBITDA highlights operational inefficiencies.

Balance Sheet

The balance sheet reflects a solid equity base with an equity ratio of 91.9% in 2024, indicating financial stability and low leverage. The debt-to-equity ratio remains exceptionally low, signaling minimal leverage risk. However, the return on equity is negative due to the net loss, highlighting profitability concerns despite strong equity.

Cash Flow

The cash flow statement reveals a substantial improvement in free cash flow, turning positive in 2024 from negative in previous years, showcasing improved cash management. The operating cash flow to net income ratio is favorable due to positive operating cash flow, but the overall cash flow stability is hindered by prior negative trends and fluctuations in financing activities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.69M	28.22M	6.42M	0.00	0.00
Gross Profit	10.51M	24.38M	4.20M	-1.63M	-46.55K
EBITDA	-11.05M	-26.62M	104.29M	-7.62M	-1.30M
Net Income	-14.23M	-28.91M	98.27M	-15.47M	-1.53M
Balance Sheet
Total Assets	111.75M	112.07M	141.24M	44.09M	52.72M
Cash, Cash Equivalents and Short-Term Investments	19.41M	23.66M	1.40M	12.94M	47.05M
Total Debt	30.57K	63.22K	110.17K	0.00	0.00
Total Liabilities	8.86M	9.06M	6.55M	233.53K	342.38K
Stockholders Equity	102.89M	103.01M	134.69M	37.66M	50.88M
Cash Flow
Free Cash Flow	-988.36K	16.43M	-8.02M	-29.57M	-922.85K
Operating Cash Flow	-979.12K	16.43M	-7.86M	-29.56M	-922.85K
Investing Cash Flow	-1.09M	-88.12K	-1.78M	-6.00M	-5.13M
Financing Cash Flow	-3.56M	-2.94M	-1.89M	3.57M	53.23M

Base Carbon, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BCBN	66 Neutral	―	―	-13.01%	―	-100.00%	-2.47%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GIP	45 Neutral	C$64.57M	-3.48	-23.88%	―	-19.22%	11.82%
ECM	41 Neutral	C$43.09M	-17.76	-1787.47%	―	135.68%	68.99%
LCE	40 Underperform	C$48.76M	-18.21	-4.48%	―	―	27.68%

Base Carbon, Inc. Corporate Events

Base Carbon Inc. Reports Q3 2025 Results with Strategic Project Expansions

Base Carbon Inc. reported its third-quarter 2025 financial results, highlighting significant developments in its carbon credit projects. The Rwanda Cookstoves project transitioned to the VM0050 methodology, enhancing its eligibility for key compliance markets, while the Vietnam Household Devices project entered its second phase, generating substantial cash proceeds. The company also expanded its India ARR project, increasing potential tree planting to 20 million. Financially, Base Carbon saw a slight increase in EPS and maintained a strong asset base, indicating stable growth and strategic advancements in its operations.

Base Carbon’s Rwanda Cookstoves Project Gains CORSIA Approval

Base Carbon Inc. announced that its Rwanda Cookstoves project has been approved by Verra to use the CORSIA-compliant VM0050 methodology, marking a significant milestone in the company’s operations. This approval allows Base Carbon to requantify its carbon credits, aligning them with CORSIA standards, which are expected to meet the rising demand from international airlines for carbon offsetting. The company anticipates that this transition will enhance the value of its carbon credit inventory, positioning it strategically in a market characterized by scarcity and increasing demand, thus benefiting shareholders through potential premium pricing.