The firm exhibits severe structural margin deficits, evidenced by 2026Q1 operating margins of -181.1% and frequent quarterly revenue figures of $0.
| Sales/Revenue | 5.23M | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | -5.41M | -10.69M | -17.84M | -4.39M | -1.71M | -1.97M | -1.78M |
| Gross Margin % | -103.3% | -249.58% | -803.21% | -103.8% | -153.16% | - | - |
| Gross Profit Growth % | - | 40.08% | -305.93% | -157.3% | 13.11% | -10.2% | - |
| Operating Expenses | 14.21M | 6.81M | 10.8M | 4.11M | 4.39M | 13.96M | -550.44K |
| OpEx % of Revenue | - | 158.97% | 486.17% | 97.07% | 394.14% | - | - |
| Selling, General & Admin | 18.25M | 19.14M | 7.78M | 4.22M | 3.04M | 2.74M | 1.44M |
| SG&A % of Revenue | - | 447.1% | 350.31% | 99.68% | 272.93% | - | - |
| Research & Development | 0 | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - |
| Operating Income | -19.61M | -17.49M | -28.63M | -8.5M | -6.1M | -15.92M | -1.23M |
| Operating Margin % | -374.78% | -408.55% | -1289.38% | -200.87% | -547.29% | - | - |
| Operating Income Growth % | - | 38.9% | -236.72% | -39.34% | 61.68% | -1191.52% | - |
| EBITDA | -19.59M | -17.47M | -28.4M | -8.31M | -5.95M | -15.88M | -1.19M |
| EBITDA Margin % | -374.38% | -408.03% | -1279.03% | -196.22% | -534.04% | - | - |
| EBITDA Growth % | 23.78% | 38.48% | -241.94% | -39.49% | 62.49% | -1238.09% | - |
| D&A (Non-Cash Add-back) | 21.34K | 22K | 229.92K | 196.94K | 147.75K | 48.21K | 46.51K |
| EBIT | -18.94M | -16.97M | 12.1M | -9.96M | -6.12M | -5.72M | -4.25M |
| Net Interest Income | 501.37K | 617K | 1.11M | 919.35K | 227.25K | 0 | 0 |
| Interest Income | 501.37K | 617K | 1.18M | 919.35K | 227.25K | 0 | 0 |
| Interest Expense | 0 | 0 | 71.63K | 0 | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - |
| Pretax Income | -21.39M | -21.25M | 11.6M | -7.58M | -5.88M | -15.67M | -1.23M |
| Pretax Margin % | -408.76% | -496.38% | 522.57% | -179.15% | -526.91% | - | - |
| Income Tax | 11K | 11K | 2.14K | 127.92K | 0 | 0 | 40.07K |
| Effective Tax Rate % | -0.05% | -0.05% | 0.02% | -1.69% | 0% | 0% | -3.25% |
| Net Income | -21.39M | -21.25M | 11.69M | -6.97M | -5.31M | -15.1M | -722.18K |
| Net Margin % | -408.82% | -496.15% | 526.52% | -164.63% | -476.6% | - | - |
| Net Income Growth % | -273.64% | -281.7% | 267.78% | -31.14% | 64.81% | -1990.94% | - |
| Net Income (Continuing) | -21.4M | -21.27M | 11.6M | -7.71M | -5.88M | -15.67M | -1.27M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -112K | -111K | -89.67K | 7.25K | 468.67K | 522.17K | -53.17K |
| EPS (Diluted) | -2.09 | -2.12 | 2.64 | -0.86 | -0.63 | -1.78 | -0.09 |
| EPS Growth % | -270.97% | -180.3% | 406.98% | -36.51% | 64.61% | -1986.75% | - |
| EPS (Basic) | - | -2.12 | 2.64 | -0.86 | -0.63 | -1.78 | -0.09 |
| Diluted Shares Outstanding | 10.24M | 10.02M | 4.42M | 8.1M | 8.46M | 8.46M | 8.46M |
| Basic Shares Outstanding | 10.24M | 10.02M | 4.42M | 8.1M | 8.46M | 8.46M | 8.46M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Unsustainable cash burn rate
As reported in financial statements, MDBH's revenue remains highly volatile and project-dependent, with quarterly figures frequently hitting zero, which suggests that the firm's top-line growth is not yet a reliable indicator of long-term commercial viability or sustainable market penetration within the micro-cap investment banking sector.
The revenue profile is characterized by extreme lumpiness, reflecting a reliance on sporadic capital raises rather than recurring advisory fees. This inconsistency makes it difficult to forecast future performance, as the firm's top-line trajectory appears tethered to the unpredictable timing of individual deal closures.
Based on the provided income statement data, MDBH's gross margins have frequently dipped into deeply negative territory, indicating that the direct costs associated with its technology development segment are currently far outpacing the revenue generated by its broker-dealer operations, creating a structural profitability challenge.
The persistent negative gross margins suggest that the company is effectively subsidizing its R&D and incubation activities through its capital markets business. Without a clear path to commercializing its intellectual property, these margins imply that the current business model is fundamentally value-destroying at its present scale.
According to recent SEC filings, MDBH maintains a high fixed-cost structure, with SG&A expenses often exceeding quarterly revenue, which indicates that management has yet to achieve the operational leverage necessary to support its dual-track mission of financial services and synthetic biology research.
The firm's cost structure is heavily weighted toward specialized personnel, which creates a high break-even threshold that the current revenue base cannot support. Investors should monitor whether management can implement stricter expense discipline, as the current burn rate appears to be accelerating relative to top-line growth.
As evidenced by the 2024Q4 net income spike, MDBH's bottom-line results are frequently influenced by non-operating items rather than core operational performance, which complicates the assessment of the firm's true earnings quality and suggests that reported EPS may not reflect underlying business health.
The significant volatility in net income, often decoupled from operating losses, points to the impact of one-time events or accounting adjustments. This lack of earnings consistency warrants caution, as it obscures the firm's actual progress toward achieving a sustainable, cash-flow-positive operating model.
While proponents might argue that MDBH holds significant hidden value in its intellectual property, the firm's consistent operating losses and reliance on cash reserves suggest that the company may face liquidity constraints before its technology development segment can achieve a meaningful commercial exit.
The primary risk is that the firm's cash runway will be exhausted before the 'public venture capital' model can prove its efficacy. Short-term investors should be wary of the potential for dilutive financing, as the current burn rate is not supported by the firm's core transactional revenue.
Quick answers to the most common questions about buying MDBH stock.
MDB Capital Holdings, LLC Class A common (MDBH) reported a net loss of $21.2M for the fiscal year ending 2025.
MDB Capital Holdings, LLC Class A common (MDBH) reported an operating income of $-17.5M, resulting in an operating profit margin of -408.5%. This margin reflects the operational efficiency of the business before interest and taxes.
MDB Capital Holdings, LLC Class A common (MDBH) generated $-10.7M in gross profit for the year, representing a gross profit margin of -249.6%. This demonstrates the company's core pricing power and production efficiency.