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ZeroStack Corp. (ZSTK)

Nasdaq: ZSTK · Wholesale-Drugs, Proprietaries & Druggists' Sundries · Toronto · filing with the SEC since 2019
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Grade2.4
◀ Past 2.5● Present 2.6▶ Future 2.1
1 est.
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The grade of ZeroStack Corp.

Nine metrics read from its own filings, by tense
Headline grade
2.4/10
◀ Past2.525% of the headline
● Present2.645% of the headline
▶ Future2.130% 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?

2.5/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
2.5/10

Has it survived what it has been through?

6 warning events since 2019; the latest 2026-11-12.

weight 45% of this tense · 25th percentile among 10 sector filers · read for itself

From the record

ZeroStack Corp.'s filings since 2019 show 6 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2025-08-27); an auditor change (8-K item 4.01, the latest 2026-11-12); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2022-04-29) (its current reports).

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

Track record

as filed
3.8/10

What has it actually done, year after year?

+41.2% a year over 5 filed years; profitable in 1 of 5.

weight 33% of this tense · 38th percentile among 8 sector filers · read for its customers

From the record

ZeroStack Corp.'s 5 filed years say what it did: revenue went from $9 million in fiscal 2021 to $36 million in fiscal 2025, up 41.2% a year; it rose in 2 of 4 years; the deepest fall was 53% from fiscal 2023 to fiscal 2025; net income was positive in 1 of 5 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span41.2%top 6% of its family
  • the share of years revenue rosebottom 31% of its family
  • the share of filed years with a profitbottom 19% of its family
  • the deepest fall from a revenue peak53.1%bottom 6% of its family

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

Shareholder treatment

SI estimate
0.5/10

How has it treated the people who own it?

SI estimate 0.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 5th percentile among 10 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 5% of 10 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 10 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: ZeroStack Corp.'s shareholder treatment is put at 0.5 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 5% of 10 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?

2.6/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
2.6/10

Is it financially healthy right now?

ROE -170%: lost 170¢ per shareholder dollar. Leverage 46%: owes 46¢ per asset dollar.

weight 33% of this tense · 26th percentile among 10 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, ZeroStack Corp. lost about 170 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 46 cents per dollar of assets, and net share issuance: its share count grew 765.7% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 25% of its family
  • return on equitybottom 8% of its family
  • gross profit against assetsbottom 15% of its family
  • the share count against the year beforebottom 5% of its family

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

Industry position

as filed
2.8/10

How strong is its position in its industry?

bottom 28% of 10 in its family; net margin -335.6%.

weight 45% of this tense · 28th percentile among 10 sector filers · read for its customers

From the record

ZeroStack Corp.'s standing among 10 graded names in its industry family: revenue of $36 million in fiscal 2025 ranks in the bottom 35% by size; a net margin of -335.6% ranks in the bottom 15%; revenue growth of 2.2% a year over the last 3 filed years ranks in the bottom 35% (its annual reports).

What it rests on

  • revenue against the family$35.7Mbottom 35% of its family
  • net margin-335.6%bottom 15% of its family
  • three-year revenue growth2.2%bottom 35% of its family

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

Leadership

as filed
2.2/10

What are the people in charge doing?

bottom 22% of 9 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 22nd percentile among 9 sector filers · read for its shareholders

From the record

ZeroStack Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Reis-Faria, Daniel (CEO, as filed), filing under that title since 2025-10-06, 1.1 years (bottom 39% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 1.1 years (bottom 21%); 17 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 6%; 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 charge17 in three years among 8 peoplebottom 6% of its family
  • the median years the people in charge have filed1.1 yearsbottom 21% of its family
  • the chief executive's years on the record1.1 yearsbottom 39% 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?

2.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.2/10

How much room does it have to grow?

bottom 32% of 10 in its family for room to expand.

weight 33% of this tense · 32nd percentile among 10 sector filers · read for itself

From the record

ZeroStack Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $6 million against debt of $53 million leaves -36.8% of its assets as net cash, bottom 25% of its family; cash from operations less capital spending is -24.7% of revenue (bottom 25%); a gross margin of 4.6% (bottom 45%) (its annual report).

What it rests on

  • cash less debt against assets-36.8%bottom 25% of its family
  • cash from operations less capital spending against revenue-24.7%bottom 25% of its family
  • gross margin4.6%bottom 45% of its family

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

Growth drivers

as filed
2.3/10

What could actually drive growth from here?

bottom 23% of 8 in its family for growth drivers.

weight 33% of this tense · 23rd percentile among 8 sector filers · read for its customers

From the record

ZeroStack Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 2.2% a year over the last three filed years against 41.2% over all 5, slowing (bottom 6% of its family); the newest year grew -0.5% (bottom 19%); research spending grew 46.8% a year (top 37%); capital spending grew -53.9% a year (bottom 6%) (its annual reports). ZeroStack 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-39.0 points a yearbottom 6% of its family
  • the newest year's revenue growth-0.5%bottom 19% of its family
  • three-year growth of research spending46.8%top 37% of its family
  • three-year growth of capital spending-53.9%bottom 6% 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
0.7/10

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

bottom 7% of 7 in its family for expectations against reality.

weight 33% of this tense · 7th percentile among 7 sector filers · read for its shareholders

From the record

ZeroStack Corp.'s newest year against its own record: revenue of $36 million in fiscal 2025 came in 4% below the $37 million its prior three years' pace pointed to (bottom 7% of its family); net income of $120 million against a prior three-year average of $42 million (bottom 7%); a net margin of a loss larger than its revenue against -92% before (bottom 7%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-4.0%bottom 7% of its family
  • net income against the prior three years' average-188%bottom 7% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 7% 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 ZSTK · research, not advice