Where Core AI stands after its latest Filing
Revenue for the twelve months was $55m. It passes 2 of our 2 financial-health checks. Our price-to-sales vs peers value is $0.94 a share, against a share price of $0.19.
Core AI Holdings, Inc. is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$0.7
Price-to-sales vs peers
Base case. Range ~$0.7–$5.2. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
Price vs value
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Core AI Holdings, Inc. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds8 adding, 7 cuttingOf 2 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers
Value diary
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.
The Fundamentalytics view
Where it stands out: change in growth rate of +97.6pp ranks 2 of 7 wireless telecommunication services companies we cover. Where it lags: net margin of -57.2% ranks 6 of 7 wireless telecommunication services companies we cover.
Current signal Revenue growth accelerating: TTM revenue growth rose to 58.6% (+97.6pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 58.6% over the last 12 months, against a median of 16.6% for wireless telecommunication services companies we cover.
- Growth speeding up. The growth rate is 97.6 points higher than a quarter earlier.
Things to watch
- Loss-making. Operating margin is -12.9%: costs exceed revenue.
- Margins narrowing. Operating margin is down 11.8 points on a year ago.
- Volatile shares. Over the past year the shares showed annualised volatility of 180% and a beta of 2.3 against the S&P 500.
- Gross margin slipping. Gross margin is down 4.8 points on a year ago.
Price chart
- 1 day+0.5%
- 1 week+5.5%
- 1 month-32.6%
- This year-88.2%
- 1 year-95.5%
- 5 years-100.0%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $55.2M
- Operating margin
- -12.9%
- Net margin
- -57.2%
Growth
- Revenue growth
- +58.6%
- Change in growth rate
- +97.6 pts
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for CHAI from the sources we follow. See filings →
Valuation models
We value Core AI Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.33 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. | ~$0.7 ~$2.2–$5.2 | 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. | ~$0.7 ~$0.7–$5.2 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Core AI Holdings, Inc. with Wireless Telecommunication Services 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.
Valuation multiples over time Market data may be delayed
| At fiscal year end | 2021 | 2022 | 2023 |
|---|---|---|---|
| Share price | $1864800.00 | $77112.00 | $3031.20 |
| Market value | $103.4bn | $102m | $4m |
| + Net debt (− = net cash) | −$2m | −$2m | −$809473 |
| Enterprise value | $103.4bn | $100m | $3m |
| Multiples | |||
| Price / sales | n/m | 15.8x | 0.5x |
| Price / earnings | — | — | — |
| Price / free cash flow | — | — | — |
| EV / EBITDA | — | — | — |
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
No analyst estimates are published for Core AI Holdings, Inc.: too few analysts cover it.
Positioning
- Short interest
- 3.2% of tradable shares
- Days to cover
- 1.05 at average volume
- Short interest, 1 month
- +27% to October 15, 2026
- Held by institutions
- 8% of shares
- Held by insiders
- 50.0% of shares
- Employees
- 7 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| CHAI | −66% | −96% | −96% | −99% | −93% | −88% |
| Industry peers (median) | −5% | −35% | +20% | +39% | +7% | −11% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| CHAI | 33% | 25% | 25% | 17% | 17% | 46% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| CHAI | −82% | −97% | −98% | −99% | −95% | −93% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since September 25, 2020: 100% from February 17, 2021 to October 27, 2026. Getting back needed a 4217084653% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $0.18 – $3.91
- From 52-week high
- −95.1%
- vs 50-day average
- −24.3%
- vs 200-day average
- −78.6%
- Volatility (1 year)
- 180%
- Beta vs S&P 500
- 2.32
Fundamentals
Source: SEC EDGAR filings. Retrieved November 1, 2026.
View chart data
| Period | Revenue (TTM) |
|---|---|
| FY18 Q4 | $11M |
| FY19 Q4 | $9.8M |
| FY20 Q4 | $6M |
| FY24 Q4 | $34.8M |
| FY25 Q4 | $55.2M |
Financial statements
| Fiscal year | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 11 | 10 | 6 | 8 | 6 | 8 | 35 | 55 |
| Gross profit | 2 | 3 | 2 | 2 | 1 | 3 | 1 | −0 |
| EBITDA | — | — | — | −19 | −15 | −9 | — | — |
| Operating income | — | — | — | −20 | −17 | −11 | −0 | −7 |
| Net income | — | 0 | — | −24 | −15 | −13 | −0 | −32 |
| Diluted EPS | — | — | — | — | −$11520.50 | −$10183.00 | — | — |
| Growth (year on year) | ||||||||
| Revenue | — | −10.6% | −39.0% | +26.0% | −14.1% | +27.0% | +323.0% | +58.6% |
| Margins | ||||||||
| Gross margin | 14.5% | 27.4% | 26.4% | 24.8% | 21.4% | 32.3% | 4.3% | −0.5% |
| EBITDA margin | — | — | — | −256.6% | −238.2% | −106.5% | — | — |
| Operating margin | — | — | — | −270.0% | −255.8% | −127.8% | −1.1% | −12.9% |
| Net margin | — | 1.2% | — | −313.1% | −236.0% | −157.1% | −1.1% | −57.2% |
| Free-cash-flow margin | — | — | — | −169.5% | −213.9% | −101.4% | — | — |
| Cash flow | ||||||||
| Cash from operations | — | — | — | −13 | −14 | −8 | −0 | −7 |
| Capital spending | — | — | — | 0 | 0 | 0 | — | — |
| Free cash flow | — | — | — | −13 | −14 | −8 | — | — |
| Stock-based pay | — | — | — | 1 | 3 | 1 | — | — |
| Free cash flow after stock pay | — | — | — | −14 | −17 | −9 | — | — |
| Balance sheet | ||||||||
| Cash | — | — | — | 2 | 2 | 1 | 6 | 2 |
| Total debt | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 |
| Net debt (negative = net cash) | — | — | — | −2 | −2 | −1 | −6 | −2 |
| Diluted shares | — | — | — | — | — | — | — | — |
Financial health
- Short-term assets cover short-term liabilities $13m of assets due within a year against $10m of liabilities due within a year.
- Short-term assets cover long-term liabilities $13m short-term assets against $100 of longer-dated liabilities.
- More cash than debt Cash or debt not separately reported. Not assessable.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
- Operating profit covers interest at least five times over Interest not separately reported. Not assessable.
Dividends, buybacks and capital spending
- Days sales outstanding
- 38 days
- receivables vs revenue
Competitors: side by side with peers
| Last 12 months unless stated | CHAI | SURG | ASTS | SPOK | ECHO | VOD | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $55m | $67m | $115m | $135m | $14.7bn | $46.9bn | $135m |
| Revenue growth, last 12 months | 58.6% | 83.9% | 706.3% | −3.3% | −5.2% | 16.6% | 16.6% |
| Revenue growth, 3-year average | — | −22.3% | 160.0% | −0.8% | −6.4% | — | −0.8% |
| Revenue growth, latest quarter | — | 40.7% | >999% | −2.6% | −4.0% | — | 7.4% |
| Gross margin | −0.5% | −19.6% | 0.0% | 78.6% | — | 31.5% | 15.7% |
| Operating margin | −12.9% | −41.0% | −38.6% | 12.9% | −112.7% | 7.0% | −12.9% |
| Operating margin, 3-year average | — | −58.6% | — | 13.6% | −40.7% | 10.6% | 10.6% |
| Net margin | −57.2% | −47.9% | −536.7% | 13.9% | −38.7% | −1.0% | −38.7% |
| Cash from operations / revenue | −12.0% | −23.0% | −125.5% | 24.7% | −0.6% | 35.3% | −0.6% |
| Free-cash-flow margin | — | −23.0% | <−999% | 22.3% | −4.9% | 23.3% | 7.5% |
| Free-cash-flow margin, 3-year average | — | −36.1% | <−999% | 19.8% | −4.1% | 26.2% | 7.4% |
| Stock pay / revenue | — | 0.2% | 128.3% | 4.4% | 0.5% | 0.3% | 0.7% |
| Change in share count | — | 14.9% | — | 2.4% | −4.6% | −8.1% | −4.2% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 58.6% | 16.6% | 3 of 7 |
| Change in growth rate Growth | +97.6pp | +15.6pp | 2 of 7 |
| Operating margin Profitability | -12.9% | 7.0% | 4 of 6 |
| Net margin Profitability | -57.2% | -38.7% | 6 of 7 |
| Days sales outstanding Balance sheet | 38 days | 38 days | 4 of 7 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $1.6M
- Institutions reporting
- 14
- Shares held vs prior quarter
- ▲ 1820.3%
- Positions opened / closed
- 5 / 6
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Alyeska Investment Group, L.P. | $1.4M | 1.9M | 87.1% | New |
| Sbi Securities Co., Ltd. | $69,159 | 97K | 4.4% | ▲ 807533.3% |
| Virtu Financial LLC | $66,000 | 93K | 4.2% | ▲ 780.5% |
| Jane Street Group, LLC | $53,090 | 74K | 3.4% | New |
| Geode Capital Management, LLC | $9,680 | 14K | 0.6% | ▼ 10.0% |
| UBS Group AG | $2,796 | 4K | 0.2% | ▲ 50.8% |
| Royal Bank Of Canada | $1,000 | 2K | 0.1% | New |
| Citigroup Inc | $694 | 1K | 0.0% | New |
| Morgan Stanley | $642 | 1K | 0.0% | 0.0% |
| Clear Street Group Inc. | $71 | 0K | 0.0% | 0.0% |
| Osaic Holdings, Inc. | $17 | 0K | 0.0% | 0.0% |
| Integrated Wealth Concepts LLC | $6 | 0K | 0.0% | 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 Core AI Holdings, Inc.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying
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.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Core AI Holdings, Inc. in brief
- What does Core AI Holdings, Inc. do?
- Core AI Holdings, Inc. is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.
- What is Core AI Holdings, Inc.'s stock ticker?
- Core AI Holdings, Inc. trades under the ticker CHAI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Core AI Holdings, Inc.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Core AI Holdings, Inc. reported revenue of $55.2M, 58.6% higher than a year earlier, according to its SEC filings.
- Who are Core AI Holdings, Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Alyeska Investment Group, L.P., Sbi Securities Co., Ltd. and Virtu Financial LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- What is Core AI Holdings, Inc.'s market cap?
- On December 29, 2023, Core AI Holdings, Inc.'s market capitalisation was about $3.8M and net debt of -$809,473. Market figures come from third-party market data and may be delayed.
- Who are Core AI Holdings, Inc.'s competitors?
- In our Wireless Telecommunication Services peer group, the companies closest to Core AI Holdings, Inc. are Surgepays, Inc., AST Spacemobile, Inc., Spok Holdings, Inc, EchoStar and Vodafone Group Public LTD Co. The side-by-side comparison below sets their revenue, margins and growth against Core AI Holdings, Inc.'s.
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