Nuburu, Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.
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~$0.2
Price-to-sales vs peers
Base case. Range ~$0.2–$0.8. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Nuburu, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Nuburu has little or no product revenue yet; it used $27m of cash in the twelve months to June 2026. That growth ranks 1 of 21 among the electronic components companies we cover. Our price-to-sales vs peers value is $0.38 a share, against a share price of $0.29.
Source: 10-Q/A filed September 22, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Nuburu, Inc.'s trailing-twelve-month revenue grew 9927.6% year on year, with a free-cash-flow margin of -2943.3%. Where it stands out: revenue growth of 9927.6% ranks 1 of 26 electronic components companies we cover. Where it lags: operating margin of -2621.0% ranks 25 of 25 electronic components companies we cover.
Current signal Revenue growth accelerating: TTM revenue growth rose to 9927.6% (+9331.7pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Nuburu, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 12.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.73 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.2 ~$0.2–$0.8 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.2 ~$0.2–$0.8 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Nuburu, Inc. with Electronic Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Nuburu, Inc.: too few analysts cover it.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| BURU | −5% | −15% | −98% | −89% | −76% | −94% |
| Industry peers (median) | +21% | −12% | +11% | +11% | +8% | +19% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| BURU | 50% | 83% | 8% | 42% | 17% | 18% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| BURU | −24% | −19% | −99% | −97% | −85% | −100% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since October 23, 2020: 100% from February 18, 2021 to October 28, 2026. Getting back needed a 6685947% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| November 9, 2023 | −43.6% | +0.8% | −31.7% | −51.2% |
| August 10, 2023 | −10.3% | 0.0% | −15.4% | −36.5% |
| May 11, 2023 | −10.8% | −0.3% | −17.1% | −25.7% |
| March 8, 2023 | −6.6% | −1.7% | −7.7% | −28.4% |
| February 22, 2023 | −0.8% | +0.4% | +32.9% | −7.4% |
Source: SEC EDGAR filings. Retrieved October 31, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $2.1M |
| FY23 Q4 | $2.1M |
| FY24 Q1 | $1.7M |
| FY24 Q2 | $704.3K |
| FY24 Q3 | $517.6K |
| FY24 Q4 | $152.1K |
| FY25 Q1 | $58.6K |
| FY25 Q2 | $9.3K |
| FY25 Q3 | $9.3K |
| FY25 Q4 | $0 |
| FY26 Q1 | $407.6K |
| FY26 Q2 | $932.6K |
Source: SEC EDGAR filings. Retrieved October 31, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 44.8% |
| FY24 Q1 | -6.1% |
| FY24 Q2 | -75.1% |
| FY24 Q3 | -75.9% |
| FY24 Q4 | -92.7% |
| FY25 Q1 | -96.6% |
| FY25 Q2 | -98.7% |
| FY25 Q3 | -98.2% |
| FY25 Q4 | -100.0% |
| FY26 Q1 | 595.9% |
| FY26 Q2 | 9927.6% |
Source: SEC EDGAR filings. Retrieved October 31, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q2 | -691.7% |
| FY23 Q3 | -969.8% |
| FY23 Q4 | -1041.9% |
| FY24 Q1 | -1226.2% |
| FY24 Q2 | -2520.3% |
| FY24 Q3 | -2915.8% |
| FY24 Q4 | -8644.7% |
| FY25 Q1 | -19913.7% |
| FY25 Q2 | -140295.8% |
| FY25 Q3 | -141885.3% |
| FY26 Q1 | -5700.8% |
| FY26 Q2 | -2621.0% |
Source: SEC EDGAR filings. Retrieved October 31, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY22 Q4 | -747.3% |
| FY23 Q1 | -722.6% |
| FY23 Q2 | -543.8% |
| FY23 Q3 | -820.0% |
| FY23 Q4 | -897.0% |
| FY26 Q1 | -5735.6% |
| FY26 Q2 | -2943.3% |
| Fiscal year | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 1 | 2 | 0 | 0 | 1 |
| Gross profit | −3 | −4 | −2 | −0 | −1 |
| EBITDA | −14 | −21 | −12 | −18 | −24 |
| Operating income | −14 | −22 | −13 | −18 | −24 |
| Net income | −30 | −21 | −35 | −79 | −56 |
| Diluted EPS | −$5.41 | −$0.63 | −$29.51 | −$2.25 | — |
| Growth (year on year) | |||||
| Revenue | — | +44.8% | −92.7% | −100.0% | +>999% |
| Margins | |||||
| Gross margin | −237.4% | −173.1% | <−999% | — | −61.5% |
| EBITDA margin | −940.5% | <−999% | <−999% | — | <−999% |
| Operating margin | −971.8% | <−999% | <−999% | — | <−999% |
| Net margin | <−999% | −993.1% | <−999% | — | <−999% |
| Free-cash-flow margin | −747.3% | −897.0% | — | — | <−999% |
| Cash flow | |||||
| Cash from operations | −10 | −18 | −7 | −16 | −27 |
| Capital spending | 1 | 1 | — | 5 | 0 |
| Free cash flow | −11 | −19 | — | −21 | −27 |
| Stock-based pay | 2 | 2 | 2 | 2 | 1 |
| Free cash flow after stock pay | −13 | −21 | — | −23 | −29 |
| Balance sheet | |||||
| Cash | 3 | 2 | 0 | 25 | 1 |
| Total debt | 23 | 11 | 18 | 51 | 31 |
| Net debt (negative = net cash) | 20 | 9 | 18 | 27 | 30 |
| Diluted shares | 5m | 33m | 1m | 32m | — |
| Returned to shareholders | |||||
| Buybacks | 303 | — | — | — | — |
| Total returned | 303 | — | — | — | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Gross profit | −0 | −0 | −0 | 0 | 0 | 0 | −0 | −0 |
| EBITDA | −2 | −3 | −3 | −5 | −3 | −8 | −8 | −6 |
| Operating income | −2 | −3 | −3 | −5 | −3 | −8 | −8 | −6 |
| Net income | −4 | −12 | −17 | −12 | −22 | −28 | −0 | −6 |
| Diluted EPS | −$2.77 | −$1.19 | −$3.50 | −$4.60 | −$8.00 | −$1.59 | −$0.40 | −$1.46 |
| Growth (year on year) | ||||||||
| Revenue | −100.0% | −97.5% | −100.0% | −100.0% | — | −100.0% | — | — |
| Margins | ||||||||
| Gross margin | — | <−999% | — | — | — | — | −60.1% | −72.1% |
| EBITDA margin | — | <−999% | — | — | — | — | <−999% | <−999% |
| Operating margin | — | <−999% | — | — | — | — | <−999% | <−999% |
| Net margin | — | <−999% | — | — | — | — | −112.8% | <−999% |
| Free-cash-flow margin | — | — | — | — | — | — | — | <−999% |
| Cash flow | ||||||||
| Cash from operations | −1 | −1 | −2 | −2 | −3 | −9 | −9 | −6 |
| Capital spending | — | — | 1 | 0 | 0 | 4 | — | 0 |
| Free cash flow | — | — | −3 | −2 | −3 | −13 | — | −6 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Free cash flow after stock pay | — | — | −3 | −2 | −3 | −14 | — | −6 |
| Last 12 months unless stated | BURU | HIHO | KULR | HLP | OST | ESP | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $932571 | $5m | $16m | $20m | $40m | $46m | $647m |
| Revenue growth, last 12 months | >999% | −35.2% | 24.6% | 39.0% | 22.2% | 4.9% | 15.0% |
| Revenue growth, 3-year average | −30.9% | −40.6% | 27.2% | — | — | 9.0% | 5.6% |
| Revenue growth, latest quarter | −100.0% | — | −43.0% | — | — | 40.4% | 18.4% |
| Gross margin | −61.5% | 28.4% | −1.7% | 32.5% | 6.4% | 35.3% | 36.5% |
| Operating margin | <−999% | −48.0% | −270.6% | 12.4% | −22.9% | 25.1% | 8.5% |
| Operating margin, 3-year average | <−999% | −11.1% | −223.8% | — | — | 20.2% | 8.3% |
| Net margin | <−999% | −31.7% | −648.0% | 9.9% | −25.2% | 24.2% | 5.8% |
| Cash from operations / revenue | <−999% | −29.4% | −260.6% | 4.5% | 0.2% | 12.3% | 10.4% |
| Free-cash-flow margin | <−999% | −31.5% | −280.0% | 3.4% | −17.9% | 5.6% | 3.7% |
| Free-cash-flow margin, 3-year average | — | −7.6% | −213.5% | — | — | 19.1% | 8.9% |
| Stock pay / revenue | 150.3% | 2.5% | 35.9% | 14.0% | — | 0.5% | 1.9% |
| Change in share count | — | 3.5% | 41.5% | 320.8% | >999% | 6.5% | 2.9% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 9927.6% | 16.1% | 1 of 26 |
| Change in growth rate Growth | +9331.7pp | +3.5pp | 1 of 26 |
| Operating margin Profitability | -2621.0% | 9.0% | 25 of 25 |
| Net margin Profitability | -6048.8% | 6.0% | 26 of 26 |
| Stock pay as % of revenue Cash generation | 150.3% | 2.1% | 24 of 24 |
| Long-term debt as % of assets Balance sheet | 45.9% | 12.5% | 18 of 19 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Region | Revenue | YoY |
|---|---|---|
| United States | $0 | ▼ 100.0% |
| Asia | $0 | ▼ 100.0% |
| Europe | $0 | ▼ 100.0% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Nuburu, Inc.'s 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Vanguard Capital Management LLC | $860,792 | 6.7M | 58.9% | ▲ 10.2% |
| Geode Capital Management, LLC | $177,017 | 1.4M | 12.1% | ▲ 33.3% |
| UBS Group AG | $111,733 | 873K | 7.6% | ▲ 7.5% |
| Vanguard Fiduciary Trust Co | $109,601 | 856K | 7.5% | 0.0% |
| State Street Corp | $68,744 | 537K | 4.7% | ▲ 789.4% |
| Northern Trust Corp | $50,261 | 392K | 3.4% | ▲ 745.5% |
| Allworth Financial LP | $15,224 | 119K | 1.0% | 0.0% |
| Ruggiero Investments, Inc. | $12,830 | 100K | 0.9% | ▲ 396.9% |
| Vanguard Personalized Indexing Management, LLC | $8,275 | 65K | 0.6% | New |
| Mai Capital Management | $5,334 | 42K | 0.4% | New |
| Hm Payson & Co | $5,317 | 42K | 0.4% | 0.0% |
| Northcrest Asset Manangement, LLC | $4,978 | 35K | 0.3% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Nuburu, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Zamboni Alessandro Co-Chief Executive Officer | December 31, 2025 | Buy | 4,332,525 | $0.35 | $1.5M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around January 26, 2024 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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