Sphere 3D Corp. (ANY) AI Stock Analysis

Sphere 3D Corp. positions itself as a carbon neutral bitcoin mining company and offers data management solutions across hybrid cloud, cloud, and on-premises platforms. The company serves customers directly and through resellers and a professional services organization. Its hardware and software portfolio includes the HVE-STACK high-density server appliance, the HVE-VELOCITY dual enclosure storage area network, the HVE 3DGFX virtual desktop infrastructure solution, the HVE STAGE server virtualization platform, and the HVE VAULT backup and replication storage appliance. Sphere 3D also provides self-service and support services while focusing on sustainable operations within the bitcoin mining sector.

Annual revenue rose from $3.7M in FY2021 to a peak of $21.9M in FY2023, before declining to $16.6M in FY2024 and $11.2M in FY2025. In FY2025, revenue contracted 32.7% while net income was -$21.5M, reflecting a net margin of -192.1% and diluted EPS of -$7.33. Gross margin for FY2025 was 23.5%, up from 19.4% in FY2024. For the trailing twelve months ended June 30, 2026, revenue was $9.7M. In the latest quarter ended June 30, 2026, quarterly revenue fell 18.8% year-over-year, and quarterly earnings decreased 40.0% year-over-year.

As of June 30, 2026, Sphere 3D held $2.8M in cash and short-term investments against $1.3M in total debt, resulting in net cash of $1.5M. Total assets were $24.9M and shareholders' equity was $14.2M, with a debt-to-equity ratio of 0.09 and a current ratio of 1.03. In FY2025, the company recorded operating cash flow of -$16.1M and free cash flow of -$23.6M. Capital expenditures totaled $7.5M, while share buybacks accounted for $431,000 in FY2025.

At a last close of $2.05, Sphere 3D trades at an enterprise value of $31.5M and a price-to-sales multiple of 3.1x, compared to 2.8x for the median of its US-listed Technology peers. Its enterprise value-to-revenue multiple is 3.2x, and its price-to-book ratio is 2.1x. The peer median operating margin is 13.2%, compared to Sphere 3D's trailing operating margin of -252.7%. Over the past year, the stock fell 80.5%, trailing the S&P 500 (SPY) return of 16.8%, and over five years it fell 99.6% compared to an 83.0% gain for the index.

The mean analyst price target is $30.00, representing an upside of 1363.4% versus the last close of $2.05. For the fiscal year ending December 31, 2026, the consensus EPS estimate is -$27.60, representing an EPS growth estimate of -570.4%, with revenue estimated at $0. Over the last four quarters, Sphere 3D beat EPS estimates 2 times. The next scheduled earnings date is November 3, 2026.

This page is an AI-written research summary of Sphere 3D Corp. (ANY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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