New Name Reflects Strategic Approach: Building Modular AI Infrastructure at Sites the Conventional Pipeline Overlooks Stamford, Connecticut--(Newsfile Corp. - June 30, 2026) - Sphere 3D Corp. (NASDAQ: ANY) ("Sphere 3D" or the "Company") today announced that its Board of Directors has unanimously approved, and is submitting to shareholders for their approval, a proposed change of the Company's name to DarkHorse Technologies Inc. In connection with the proposed name change, the Company has reserved the ticker symbol "DRK" with Nasdaq for use upon shareholder approval and effectiveness of the name change. The proposed name change reflects the Company's strategic approach to building AI and high-performance compute infrastructure for the American economy: identifying and contracting energized power capacity at sites overlooked by the conventional hyperscale pipeline, using modular construction to bring capacity online in under a year rather than the three to five years required by traditional builds, and operating at a footprint and resource profile designed to be welcomed by host communities.
Sphere 3D Corp.(ANY)Earnings, Financials & Key Ratios
ANY•NASDAQ
$2.46
Price updated Jul 7, 2026
AboutSphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. It also provides data management solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional services organization. Its products portfolio includes HVE-STACK high density server, which provides computer and storage appliance for the data centers; HVE-VELOCITY, a high availability dual enclosure storage area network that offers reliability and integrity for optimal data storage, protection, and recovery; HVE 3DGFX, a virtual desktop infrastructure solution; HVE STAGE, a server virtualization platform; and HVE VAULT, an appliance designed to handle requirements for backup and replication storage. In addition, it offers self-service and support services. Sphere 3D Corp. is based in Toronto, Canada.Show more
- Revenue$11M-32.7%
- EBITDA-$6M+60.6%
- Net Income-$21M-126.8%
- EPS (Diluted)-73.70-1435.4%
- Gross Margin23.5%+20.8%
- EBITDA Margin-50.43%+41.4%
- Operating Margin-111.95%+13.2%
- Net Margin-192.13%-236.9%
- ROE-68.62%-188.5%
ANY Price & Volume
Sphere 3D Corp. (ANY) stock price & volume — 10-year historical chart
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Persistent Revenue Contraction Signals Operational Distress Risks
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's fundamental instability is highlighted by a net margin of -2.1% and a critically thin cash position of only $3.1 million as of 2026Q1
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Operational insolvency and dilution
Key Thesis Takeaways
- Sphere 3D faces a precarious outlook as its pivot to Bitcoin mining fails to generate sustainable profitability, evidenced by a 32.0% year-over-year revenue decline in 2026Q1.
- The company's reliance on capital-intensive mining hardware, which has seen net PPE drop to $13.6 million, appears insufficient to offset the structural erosion of its legacy software business.
- Investors should remain cautious given the $482.4 million accumulated deficit and the persistent inability to achieve positive free cash flow, which suggests significant long-term value destruction.
Verdict Logic
which provides little buffer against ongoing operational losses.
ANY Growth Metrics
Sphere 3D Corp. (ANY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-17.46%
5 Years18.19%
3 Years22.54%
TTM-17.62%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-21.96%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-1084.54%
Return on Capital
10 Years-109.45%
5 Years-49.09%
3 Years-46.83%
Last Year-39.96%
ANY Recent Earnings
Sphere 3D Corp. (ANY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (40%)●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
May 15, 2026Metric
Actual
Est
EPS
$1.18-63.9%
$0.72
Rev
—
$3M
Q2 2026
Mar 27, 2026Metric
Actual
Est
EPS
$3.27-263.3%
$0.90
Rev
$3M-9.3%
$3M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.13-18.2%
$0.11
Rev
$3M-12.6%
$3M
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.10+9.1%
$0.11
Rev
$3M-8.5%
$3M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 15, 2026 | $1.18vs $0.72-63.9% | —vs $3M |
| Q2 2026 | Mar 27, 2026 | $3.27vs $0.90-263.3% | $3Mvs $3M-9.3% |
| Q4 2025 | Nov 4, 2025 | $0.13vs $0.11-18.2% | $3Mvs $3M-12.6% |
| Q3 2025 | Aug 5, 2025 | $0.10vs $0.11+9.1% | $3Mvs $3M-8.5% |
Based on last 12 quarters of dataView full earnings history →
Latest ANY News
Recent stock market news and headlines for Sphere 3D Corp. (ANY)
Newsfile Corp·Jun 30, 2026
Sphere 3D Corp. Announces Proposed Name Change to DarkHorse Technologies Inc. and Reserves Nasdaq Ticker "DRK," Subject to Shareholder ApprovalNewsfile Corp·Jun 25, 2026
Sphere 3D Enters 30 MW Co-Mining Agreements with Bitdeer, Monetizing Power Assets While Advancing AI Infrastructure EvaluationThe agreements place capacity under contract while preserving flexibility for future digital infrastructure opportunities Stamford, Connecticut--(Newsfile Corp. - June 25, 2026) - Sphere 3D Corp. (NASDAQ: ANY) ("Sphere 3D" or the "Company"), a Nasdaq-listed digital infrastructure company with a multi-region power and data center footprint, today announced that it has entered into co-mining agreements with Bitdeer Technologies Group (NASDAQ: BTDR) ("Bitdeer"), a world-leading technology company for artificial intelligence ("AI") and Bitcoin mining infrastructure, to host 30 megawatts of capacity across three of Sphere 3D's data center sites in Tennessee and Kentucky. The agreements provide Sphere 3D with contracted mining economics while the Company continues its site-by-site evaluation of broader digital infrastructure opportunities, including potential future applications in AI and high-performance compute.
Peers Comparison
Key metrics vs top competitors for Sphere 3D Corp. (ANY)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $2.46 | $8.56M | -0.03 | -32.68% | -192.13% | -68.62% | — | |
| $1.65 | $537.3M | -5.32 | -30.65% | -146.01% | -0.11% | — | |
| $20.47 | $8.31B | -9.52 | 48.04% | -512.96% | -115.53% | — | |
| $39.82 | $14.21B | 102.09 | 167.65% | 31.71% | 9.12% | — | |
| $12.05 | $4.59B | -3.27 | 38.2% | -234.83% | -51.65% | — | |
| $21.17 | $8.03B | -10.86 | 71.89% | -132.76% | -28.78% | — |
Compare ANY vs Peers
Sphere 3D Corp. (ANY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ANY SEC Filings & Documents
Sphere 3D Corp. (ANY) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 21, 2026·SEC
Material company update
May 15, 2026·SEC
Material company update
May 14, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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ANY Frequently Asked Questions
Sphere 3D Corp. (ANY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Sphere 3D Corp.'s revenue?
Sphere 3D Corp. (ANY) reported $10.3M in revenue for fiscal year 2025.
How fast is Sphere 3D Corp. growing?
Sphere 3D Corp. (ANY) saw revenue decline by 32.7% over the past year.
Is ANY profitable?
Sphere 3D Corp. (ANY) reported a net loss of $16.8M for fiscal year 2025.
Dividend & Returns
What is ANY's return on equity?
Sphere 3D Corp. (ANY) has a return on equity (ROE) of -68.6%. Negative ROE indicates the company is unprofitable.
What is Sphere 3D Corp.'s free cash flow?
Sphere 3D Corp. (ANY) had negative free cash flow of $22.2M in fiscal year 2025, likely due to heavy capital investments.