The return to profitability is a positive signal, but the 150% share dilution and declining gross margins temper the quality of earnings. Monitor the next quarter for whether the shift to higher-priced vehicles can sustain revenue growth without further margin erosion, and watch for any updates on the AI data center power generation initiative via STAK Vision Energy.
Price Chart
Executive Summary
STAK Inc. reported FY2026 results (year ended June 30, 2026) via a 6-K filing, showing a return to net profitability of $0.4 million versus a $5.7 million net loss in FY2025. Revenue grew 13.21% to $28.2 million, driven by a 103.35% surge in specialized oilfield vehicle sales to $22.2 million, but gross margin contracted from 30.86% to 26.43% due to a shift toward higher-priced but lower-margin vehicles. The company also issued 6 million Class A ordinary shares during the year, increasing share count significantly.
Key Facts
- Revenue increased 13.21% YoY to $28.2 million from $24.9 million.
- Net income was $0.4 million, compared to a net loss of $5.7 million in FY2025.
- Gross profit margin declined from 30.86% to 26.43%.
- Specialized oilfield vehicle sales surged 103.35% to $22.2 million, while equipment sales fell 53.89% to $5.5 million.
- Basic EPS was $0.03 vs. -$0.53 in FY2025; diluted EPS was $0.02 vs. -$0.53.
- Cash and equivalents (including restricted) rose to $4.9 million from $1.0 million.
- Class A shares outstanding increased from 4,010,349 to 10,010,349, a ~150% dilution.
- Operating cash flow remained negative at -$2.7 million (vs. -$2.9 million in FY2025).
Financial Impact
Revenue growth of 13.21% to $28.2 million, net income of $0.4 million vs. prior loss of $5.7 million, but gross margin compressed by 443 bps to 26.43%.
Risk Factors
- Gross margin contraction from product mix shift toward lower-margin vehicles.
- Significant share dilution (6M new Class A shares issued) may pressure EPS going forward.
- Negative operating cash flow for the third consecutive year raises liquidity concerns despite higher cash balance.
- Dependence on a single product category (specialized oilfield vehicles) for growth.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-047906 |
| Document: form6-k.htm | 0001493152-26-047906 |
| Document: 0001493152-26-047906-index-headers.html | 0001493152-26-047906 |
| Document: 0001493152-26-047906-index.html | 0001493152-26-047906 |
| Document: 0001493152-26-047906.txt | 0001493152-26-047906 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 6-K | $1.67 | awaiting T+20 | — | $1.53 (−8.38%) |
Oct 21, 2026 5d ago | Press Release | $1.67 | awaiting T+20 | — | $1.53 (−8.38%) |
Oct 21, 2026 5d ago | 20-F | $1.67 | awaiting T+20 | — | $1.53 (−8.38%) |
Oct 9, 2026 17d ago | 6-K | $1.08 | awaiting T+20 | — | $1.53 (+41.67%) |
Apr 14, 2026 27w ago | 6-K | $0.8160 $1.11 | ▲ +36.03% | ▲ +29.73% | $1.53 (+87.50%) |
US Market Status
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