Monitor ALP for next quarterly filing (20-F/6-K) to see whether the projected $23M revenue run-rate materializes into cash revenue.
Price Chart
Executive Summary
Alpha Compute provides a comprehensive business update announcing $79.2M in total assets, a projected $23M annualized revenue run-rate following a $32.2M GPU off-take deal, and the completed majority acquisition of GAMEE (implied $18M valuation). The filing is heavy on forward-looking statements and narrative spin; actual historical revenue (Q1 2026: ~$30K quarterly) is negligible. No hard financial results with YoY comparisons are filed. The stock trades at a $6M market cap vs. $79.2M in reported assets, reflecting market skepticism about asset quality/revenue realization.
Key Facts
- Total assets of $79.2M, total liabilities $44.4M, total equity $34.8M as of June 4, 2026 (unaudited).
- Projected annualized revenue run-rate of ~$23M, up from ~$30K quarterly contracted revenue entering Q1 2026.
- Completed $32.2M two-year off-take agreement for 504 NVIDIA B200 GPUs; $7.5M upfront reservation payment received.
- Acquired 60% controlling interest in GAMEE at an implied $18M valuation from Animoca Brands; GAMEE had $3.5M revenue in 2025 and $926K in Q1 2026.
- ALP has a $6M market cap vs $79.2M reported assets — a 13x book-to-market ratio suggesting deep market skepticism.
Financial Impact
No historical financials for YoY comparison; ~$23M projected run-rate vs $30K quarterly base. Net assets $34.8M vs $6M market cap.
Risk Factors
- Forward-looking revenue projections may not materialize — no GAAP revenue history from GPU operations.
- $44.4M in liabilities, including $34.4M in GPU/lease obligations, against $34.8M equity — leverage is significant.
- Market cap of $6M implies deep skepticism about asset quality/recoverability despite $79.2M reported assets.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-003934 |
| Document: f6k_060526.htm | 0001171843-26-003934 |
| Document: 0001171843-26-003934-index-headers.html | 0001171843-26-003934 |
| Document: 0001171843-26-003934-index.html | 0001171843-26-003934 |
| Document: 0001171843-26-003934.txt | 0001171843-26-003934 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $4.02 | awaiting T+20 | — | $2.98 (−25.87%) |
Oct 6, 2026 21d ago | Press Release | $4.02 | awaiting T+20 | — | $2.98 (−25.87%) |
Oct 5, 2026 21d ago | Insider Cluster | $4.02 | awaiting T+20 | — | $2.98 (−25.87%) |
Sep 25, 2026 4w ago | 6-K | $5.58 $3.02 | ▼ −45.88% | ▼ −44.40% | $2.98 (−46.59%) |
Sep 25, 2026 4w ago | Press Release | $5.58 $3.02 | ▼ −45.88% | ▼ −44.40% | $2.98 (−46.59%) |
Sep 22, 2026 5w ago | 6-K | $4.35 $3.38 | ▲ +22.30% | ▲ +21.74% | $2.98 (+31.49%) |
Sep 22, 2026 5w ago | Press Release | $4.35 $3.38 | ▼ −22.30% | ▼ −21.74% | $2.98 (−31.49%) |
Sep 14, 2026 6w ago | 6-K | $4.16 $3.80 | ▼ −8.65% | ▼ −10.92% | $2.98 (−28.37%) |
Sep 3, 2026 7w ago | 6-K | $0.1150 $0.0920 | ▲ +20.00% | ▲ +19.54% | $2.98 (−2491.30%) |
Sep 1, 2026 7w ago | 6-K | $0.1790 $0.0947 | ▼ −47.09% | ▼ −46.94% | $2.98 (+1564.80%) |
US Market Status
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