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Sphere 3D Corp. (ANY)

Nasdaq: ANY · Finance Services · Stamford, CT · filing with the SEC since 2013
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Grade3.7
◀ Past 2.5● Present 4.3▶ Future 4.9
1 est.
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The grade of Sphere 3D Corp.

Nine metrics read from its own filings, by tense
Headline grade
3.7/10
◀ Past2.540% of the headline
● Present4.335% of the headline
▶ Future4.925% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.5/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
1.6/10

Has it survived what it has been through?

15 warning events since 2017; the latest 2026-02-27.

weight 45% of this tense · 17th percentile among 130 sector filers · read for itself

From the record

Sphere 3D Corp.'s filings since 2017 show 15 warning events of 3 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2018-08-13); a notice about its exchange listing (8-K item 3.01, 13 times, the latest 2026-02-27); an auditor change (8-K item 4.01, the latest 2019-07-31) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.2/10

What has it actually done, year after year?

-1.5% a year over 9 filed years; profitable in 0 of 8.

weight 22% of this tense · 22nd percentile among 104 sector filers · read for its customers

From the record

Sphere 3D Corp.'s 9 filed years say what it did: revenue went from $13 million in fiscal 2017 to $11 million in fiscal 2025, down 1.5% a year; it rose in 2 of 8 years; the deepest fall was 70% from fiscal 2017 to fiscal 2021; net income was positive in 0 of 8 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-1.5%bottom 28% of its family
  • the share of years revenue rosebottom 17% of its family
  • the share of filed years with a profitbottom 13% of its family
  • the deepest fall from a revenue peak70.5%bottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
3.8/10

How has it treated the people who own it?

SI estimate 3.8/10, confidence 35 of 100 (one part).

weight 33% of this tense · 38th percentile among 115 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 38% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 115 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Sphere 3D Corp.'s shareholder treatment is put at 3.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 38% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.3/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
5.4/10

Is it financially healthy right now?

ROE -92%: lost 92¢ per shareholder dollar. Leverage 7%: owes 7¢ per asset dollar.

weight 45% of this tense · 54th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Sphere 3D Corp. lost about 92 cents for every dollar of shareholders' money, and gross profitability: its products earned about 10 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 7 cents per dollar of assets, and net share issuance: its share count grew 47.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 10% of its family
  • return on equitybottom 21% of its family
  • gross profit against assetstop 33% of its family
  • the share count against the year beforebottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
4.0/10

How strong is its position in its industry?

bottom 40% of 114 in its family; net margin -192.1%.

weight 33% of this tense · 40th percentile among 114 sector filers · read for its customers

From the record

Sphere 3D Corp.'s standing among 114 graded names in its industry family: revenue of $11 million in fiscal 2025 ranks in the bottom 28% by size; a net margin of -192.1% ranks in the bottom 33%; revenue growth of 22.5% a year over the last 3 filed years ranks in the top 42% (its annual reports).

What it rests on

  • revenue against the family$11.2Mbottom 28% of its family
  • net margin-192.1%bottom 33% of its family
  • three-year revenue growth22.5%top 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.3/10

What are the people in charge doing?

bottom 23% of 50 in its family for leadership; chief executive since 2026.

weight 22% of this tense · 23rd percentile among 50 sector filers · read for its shareholders

From the record

Sphere 3D Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Block, Joel M (Chief Executive Officer, as filed), filing under that title since 2026-06-01, 5 months (bottom 15% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 2.4 years (bottom 32%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 22%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge8 in three years among 8 peoplebottom 22% of its family
  • the median years the people in charge have filed2.4 yearsbottom 32% of its family
  • the chief executive's years on the record6 monthsbottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.9/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.1/10

How much room does it have to grow?

bottom 41% of 108 in its family for room to expand.

weight 33% of this tense · 41st percentile among 108 sector filers · read for itself

From the record

Sphere 3D Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $4 million against no long-term debt tagged leaves 14.8% of its assets as net cash, top 29% of its family; cash from operations less capital spending is -211.2% of revenue (bottom 21%); a gross margin of 23.5% (bottom 31%) (its annual report).

What it rests on

  • cash less debt against assets14.8%top 29% of its family
  • cash from operations less capital spending against revenue-211.2%bottom 21% of its family
  • gross margin23.5%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.4/10

What could actually drive growth from here?

bottom 44% of 100 in its family for growth drivers.

weight 33% of this tense · 44th percentile among 100 sector filers · read for its customers

From the record

Sphere 3D Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 22.5% a year over the last three filed years against -1.5% over all 9, speeding up (top 11% of its family); the newest year grew -32.7% (bottom 15%); capital spending grew -24.8% a year (bottom 29%) (its annual reports). Sphere 3D Corp. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+24.0 points a yeartop 11% of its family
  • the newest year's revenue growth-32.7%bottom 15% of its family
  • three-year growth of capital spending-24.8%bottom 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
6.2/10

Did its newest year beat what its own record pointed to?

top 38% of 78 in its family for expectations against reality.

weight 33% of this tense · 62nd percentile among 78 sector filers · read for its shareholders

From the record

Sphere 3D Corp.'s newest year against its own record: revenue of $11 million in fiscal 2025 came in 59.3% below the $27 million its prior three years' pace pointed to (bottom 14% of its family); net income of $21 million against a prior three-year average of $101 million (top 23%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 4%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-59.3%bottom 14% of its family
  • net income against the prior three years' average+79%top 23% of its family
  • net margin against its prior averageup more than 100 pointstop 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ANY · research, not advice