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BTCS Inc. (BTCS)

Nasdaq: BTCS · Finance Services · Wayne, PA · filing with the SEC since 2008
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Grade4.5
◀ Past 4.1● Present 4.6▶ Future 4.9
1 est.
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The grade of BTCS Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.5/10
◀ Past4.140% of the headline
● Present4.635% 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?

4.1/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
3.9/10

Has it survived what it has been through?

5 warning events since 2017; the latest 2026-08-17.

weight 45% of this tense · 38th percentile among 130 sector filers · read for itself

From the record

BTCS Inc.'s filings since 2017 show 5 warning events of 3 kinds: a warning not to rely on past financial statements (8-K item 4.02, the latest 2018-09-21); an auditor change (8-K item 4.01, the latest 2026-03-31); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2026-08-17) (its current reports).

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

Track record

as filed
4.1/10

What has it actually done, year after year?

+73.6% a year over 8 filed years; profitable in 1 of 10.

weight 22% of this tense · 41st percentile among 104 sector filers · read for its customers

From the record

BTCS Inc.'s 8 filed years say what it did: revenue went from $38 thousand in fiscal 2014 to $16 million in fiscal 2025, up 73.6% a year; it rose in 4 of 7 years; the deepest fall was 99% from fiscal 2015 to fiscal 2017; net income was positive in 1 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span73.6%top 15% of its family
  • the share of years revenue rosebottom 44% of its family
  • the share of filed years with a profitbottom 27% of its family
  • the deepest fall from a revenue peak99.1%bottom 10% of its family

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

Shareholder treatment

SI estimate
4.4/10

How has it treated the people who own it?

SI estimate 4.4/10, confidence 35 of 100 (one part).

weight 33% of this tense · 44th 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 44% 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: BTCS Inc.'s shareholder treatment is put at 4.4 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 44% 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?

4.6/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
4.0/10

Is it financially healthy right now?

ROE -24%: lost 24¢ per shareholder dollar. Leverage 35%: owes 35¢ per asset dollar.

weight 45% of this tense · 40th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, BTCS Inc. lost about 24 cents for every dollar of shareholders' money, and gross profitability: its products earned about 1 cents per dollar of everything the company owns. Leverage: it owed about 35 cents per dollar of assets, and net share issuance: its share count grew 104.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 41% of its family
  • return on equitybottom 44% of its family
  • gross profit against assetsbottom 28% of its family
  • the share count against the year beforebottom 30% of its family

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

Industry position

as filed
5.2/10

How strong is its position in its industry?

top 49% of 114 in its family; net margin -202.2%.

weight 33% of this tense · 51st percentile among 114 sector filers · read for its customers

From the record

BTCS Inc.'s standing among 114 graded names in its industry family: revenue of $16 million in fiscal 2025 ranks in the bottom 33% by size; a net margin of -202.2% ranks in the bottom 32%; revenue growth of 113.6% a year over the last 3 filed years ranks in the top 10% (its annual reports).

What it rests on

  • revenue against the family$16.5Mbottom 33% of its family
  • net margin-202.2%bottom 32% of its family
  • three-year revenue growth113.6%top 10% of its family

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

Leadership

as filed
5.2/10

What are the people in charge doing?

top 48% of 50 in its family for leadership; chief executive since 2014.

weight 22% of this tense · 52nd percentile among 50 sector filers · read for its shareholders

From the record

BTCS Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Allen, Charles W (CEO, as filed), filing under that title since 2014-02-07, 12.8 years (top 5% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 4.5 years (bottom 46%); 11 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 15%; 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 charge11 in three years among 8 peoplebottom 15% of its family
  • the median years the people in charge have filed4.5 yearsbottom 46% of its family
  • the chief executive's years on the record12.8 yearstop 5% 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
3.0/10

How much room does it have to grow?

bottom 30% of 108 in its family for room to expand.

weight 33% of this tense · 30th percentile among 108 sector filers · read for itself

From the record

BTCS Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $2 million against no long-term debt tagged leaves 0.7% of its assets as net cash, bottom 25% of its family; cash from operations less capital spending is -59.4% of revenue (bottom 44%); a gross margin of 12.2% (bottom 28%); research spending of 4.1% of revenue (bottom 25%) (its annual report).

What it rests on

  • cash less debt against assets0.7%bottom 25% of its family
  • cash from operations less capital spending against revenue-59.4%bottom 44% of its family
  • gross margin12.2%bottom 28% of its family
  • research spending against revenue4.1%bottom 25% of its family

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

Growth drivers

as filed
7.6/10

What could actually drive growth from here?

top 24% of 100 in its family for growth drivers.

weight 33% of this tense · 76th percentile among 100 sector filers · read for its customers

From the record

BTCS Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 113.6% a year over the last three filed years against 73.6% over all 8, speeding up (top 7% of its family); the newest year grew 305.2% (top 7%); research spending grew 3.6% a year (top 42%); capital spending grew 33.1% a year (top 43%) (its annual reports). BTCS Inc. reported 3 product lines in fiscal 2025: Builder Plus at $13 million (80%), Node Ops at $2 million (13%), De Fi Revenues at $1 million (8%); 2 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+40.0 points a yeartop 7% of its family
  • the newest year's revenue growth305.2%top 7% of its family
  • three-year growth of research spending3.6%top 42% of its family
  • three-year growth of capital spending33.1%top 43% 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
4.2/10

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

bottom 42% of 78 in its family for expectations against reality.

weight 33% of this tense · 42nd percentile among 78 sector filers · read for its shareholders

From the record

BTCS Inc.'s newest year against its own record: revenue of $16 million in fiscal 2025 came in 161% above the $6 million its prior three years' pace pointed to (top 14% of its family); net income of $33 million against a prior three-year average of $3 million (bottom 12%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 29%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace161.0%top 14% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 12% of its family
  • net margin against its prior average-73.4 pointsbottom 29% 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 BTCS · research, not advice