Upexi (UPXI) AI Stock Analysis

• Market Cap: $112.51M
• Dividend Yield: N/A
• Average Volume (3M): 3.53M
• Price to Earnings (P/E): ―
• Beta (1Y): 6.88
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 64
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 0.76
• Shares Outstanding: 63,208,084
• 10 Day Avg. Volume: 2,829,108
• 30 Day Avg. Volume: 3,534,949
• PEG Ratio: 0.02
• Price to Book (P/B): 0.26
• Price to Sales (P/S): 1.49
• P/FCF Ratio: -2.68
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 5.88
• Enterprise Value/Gross Profit: 7.50
• Enterprise Value/Ebitda: 2.08
• 1Y Price Target: $7.00
• Price Target Upside: 293.26% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.45
• Revenue Forecast (FY): $12.30M

• Rating: 48 Neutral
• Price Target: $2.00 ▲(12.36% Upside)

The score is held back primarily by weak cash flow and elevated balance-sheet risk despite improved reported profitability. Technicals also remain bearish with the stock below key moving averages. Offsetting these factors, the latest earnings call was more constructive, citing strong digital-asset-driven results and major capital raises, but with acknowledged crypto volatility risk.

Positive Factors

Digital-asset Treasury

A large Solana treasury provides a durable, high-conviction balance-sheet asset and an alternative earnings engine beyond DTC retail. Holding material crypto assets can support reported earnings and liquidity optionality over months, enabling strategic flexibility if managed conservatively.

Successful Capital Raises

Material capital infusions significantly extend runway and funded the Solana position, reducing immediate dilution or fire-sale risk. Strong access to capital improves the company’s ability to invest in growth initiatives and navigate funding gaps while pursuing its digital-asset strategy.

Revenue and Earnings Improvement

Reported revenue growth and a large jump to net income reflect successful monetization of new digital-asset revenue streams and operational initiatives. If repeatable, this diversification from pure DTC sales to asset-driven revenue can structurally raise top-line resilience.

Negative Factors

Very Weak Cash Generation

Persistent deeply negative operating and free cash flow signals that accounting profits haven't converted to cash. Over 2–6 months this raises liquidity pressure, increases reliance on capital markets, and constrains reinvestment into operations or inventory management.

Elevated Leverage and Small Equity Base

A high debt-to-equity ratio and minimal equity cushion materially increase financial risk during adverse cycles. Structural leverage limits flexibility, amplifies refinancing and covenant risk, and can force asset sales or dilutive raises if cash generation doesn't improve.

Earnings Quality & Business Volatility

Profitability driven largely by volatile digital-asset valuation gains undermines the durability of earnings. Historical swings between losses and gains indicate core DTC operations remain unstable; reliance on asset revaluations risks high earnings variability and weak cash realization.

Upexi Business Overview & Revenue Model

Company Description

Upexi, Inc. manufacture and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc. and changed its name to Upexi, Inc. in August 2022. Upexi, Inc. was incorporated in 2018 and is headquartered in Clearwater, Florida.

How the Company Makes Money

Upexi generates revenue through multiple streams, primarily by offering subscription-based software services that aid businesses in optimizing their online marketing efforts and operational efficiencies. Additionally, the company earns revenue from e-commerce sales of its proprietary products, leveraging its digital marketing expertise to drive traffic and conversion. Key partnerships with e-commerce platforms and logistics providers further enhance its revenue potential by expanding market reach and improving service delivery. The company also explores opportunities in affiliate marketing and strategic collaborations, contributing to its overall earnings.

Upexi Financial Statement Overview

Summary

Despite a sharp TTM profitability inflection and solid revenue growth, fundamentals are weighed down by highly levered recent balance-sheet metrics and very weak cash generation (deeply negative operating and free cash flow), raising sustainability and liquidity-risk concerns.

Income Statement

TTM (Trailing-Twelve-Months) results show a sharp swing to very high profitability (net margin ~264% and strong EBIT/EBITDA margins), alongside solid revenue growth (~31%). However, the multi-year history is volatile: FY2022–FY2025 annual periods include sizable operating losses and negative net margins, with revenue also declining in FY2024 and FY2025 versus prior years. Overall, profitability improved dramatically in the latest TTM, but durability and quality of earnings look less proven given the prior pattern.

Balance Sheet

Leverage and capital structure look strained in the latest TTM snapshot: debt is high versus equity (debt-to-equity ~5.1x) and equity is relatively small (~$1.9M), which increases financial risk. While returns on equity in TTM appear very high (benefiting from the strong profit figure and small equity base), prior annual balance sheets were meaningfully stronger on equity (e.g., FY2025 debt-to-equity ~0.31x) but also show inconsistency versus other years. Overall balance-sheet strength appears weak and volatile based on the provided points.

Cash Flow

Cash generation is the key concern: TTM (Trailing-Twelve-Months) operating cash flow is deeply negative (~-$23.9M) and free cash flow is also very negative (~-$24.1M), despite strong reported net income. Annual periods also show a pattern of mostly negative free cash flow and often negative operating cash flow, indicating profits have not consistently translated into cash and funding needs may remain elevated.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.69M	15.81M	26.00M	36.44M	23.07M	24.10M
Gross Profit	16.22M	10.87M	12.82M	21.02M	14.87M	11.90M
EBITDA	58.56M	-12.12M	-9.72M	-5.05M	-3.76M	2.46M
Net Income	54.69M	-13.68M	-23.66M	-16.93M	-2.10M	2.98M
Balance Sheet
Total Assets	15.07M	123.81M	23.51M	63.80M	48.49M	27.25M
Cash, Cash Equivalents and Short-Term Investments	230.39K	2.98M	661.41K	4.49M	7.15M	14.53M
Total Debt	9.36M	27.78M	13.45M	26.34M	15.45M	864.06K
Total Liabilities	13.22M	33.71M	17.00M	35.96M	19.70M	6.04M
Stockholders Equity	1.85M	90.10M	6.52M	28.34M	28.73M	21.22M
Cash Flow
Free Cash Flow	-24.09M	-8.81M	-1.03M	-734.89K	-5.63M	1.52M
Operating Cash Flow	-23.86M	-8.42M	-101.38K	202.68K	521.87K	2.94M
Investing Cash Flow	-135.48M	-99.29M	-3.38M	-2.57M	-11.61M	-1.28M
Financing Cash Flow	159.78M	110.03M	-353.79K	-285.33K	3.70M	11.99M

Upexi Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UPXI, the sentiment is Negative. The current price of 1.78 is below the 20-day moving average (MA) of 2.10, below the 50-day MA of 2.26, and below the 200-day MA of 5.93, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 38.37 is Neutral, neither overbought nor oversold. The STOCH value of 11.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UPXI.

Upexi Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
CCG	50 Neutral	$63.77M	-7.08	―	―	105.31%	95.66%
BODI	50 Neutral	$80.66M	-1.83	-102.66%	―	-37.41%	60.58%
ZH	49 Neutral	$310.37M	22.77	2.39%	―	-23.61%	―
UPXI	48 Neutral	$112.51M	-0.50	50.68%	―	―	―
AREN	47 Neutral	$184.64M	1.47	―	―	-10.90%	―
SEAT	46 Neutral	$105.97M	-0.30	-51.54%	―	-16.83%	-485.31%