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IP Strategy Holdings, Inc. (IPST) stock

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NASDAQ: IPST Nasdaq Beverages

C+ Fundamentals grade

IP Strategy Holdings, Inc. is a US-listed company in the beverages 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

~$5.6

Price-to-sales vs peers

Base case. Range ~$5.6–$38. 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.

IP Strategy Holdings, Inc. valuation: adjust assumptions and compare models →

Value diary

Our note on each quarter IP Strategy Holdings files

Where IP Strategy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $10m, up 39.7% on a year earlier, faster than the 37.9% growth a quarter earlier. That growth ranks 2 of 17 among the beverages companies we cover. Free-cash-flow margin fell to -164.9% from -115.6% a year earlier. Operating margin narrowed to -2029.4% from -268.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 5 financial-health checks. Our price-to-sales vs peers value is $7.11 a share, against a share price of $2.58.

Source: 10-Q filed October 23, 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.

The Fundamentalytics view

IP Strategy Holdings, Inc.'s trailing-twelve-month revenue grew 39.7% year on year, with a free-cash-flow margin of -164.9%. Where it stands out: gross margin of 65.4% ranks 2 of 26 beverages companies we cover. Where it lags: operating margin of -2029.4% ranks 25 of 26 beverages companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 99.2% while net income fell 1034.3%: a 935pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 39.7% over the last 12 months, against a median of 6.9% for beverages companies we cover.

Things to watch

  • Loss-making. Operating margin is -2029.4%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 1761.2 points on a year ago.
  • Burning cash. Free cash flow was -164.9% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 35.7% of revenue, against a median of 1.2% for beverages companies we cover: a real cost that cash-flow figures leave out.
  • Volatile shares. Over the past year the shares showed annualised volatility of 317% and a beta of 0.3 against the S&P 500.

Latest results: FY2026 Q2

Filed October 23, 2026
Earnings per share
-$637.80 against an average estimate of -$0.80: missed by 79625.0%
Revenue
$1m, down 44.3% on a year earlier

IP Strategy Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-14.9%
  • 1 week+4.2%
  • 1 month-27.9%
  • This year-92.9%
  • 1 year-99.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.2M
Operating margin
-2029.4%
Net margin
-2064.0%

Growth

Revenue growth
+39.7%
Change in growth rate
+1.8 pts

Cash

Free cash flow (TTM)
-$16.7M
FCF margin
-164.9%
Stock pay % of revenue
35.7%

Earnings

Last results
February 27, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

IP Strategy Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value IP Strategy Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.54 times a 4.5% equity risk premium.

Value per share by model
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. ~$5.6 ~$6.0–$38 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. ~$5.6 ~$5.6–$38 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare IP Strategy Holdings, Inc. with Beverages 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 20242025
Share price$688.00$31.20
Market value$243m$269m
+ Net debt (− = net cash)$13m$2m
Enterprise value$256m$271m
Multiples
Price / sales 29.0x26.6x
Price / earnings n/m—
Price / free cash flow ——
EV / EBITDA ——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for IP Strategy Holdings, Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Dec 2025 −$0.80 −$637.80 −79625.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
2.4%
of tradable shares
Days to cover
0.06
at average volume
Short interest, 1 month
+66%
to October 15, 2026
Held by institutions
10%
of shares
Held by insiders
2.2%
of shares
Employees
20
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20252026 to date
Return
IPST−96%−93%
Industry peers (median)−36%−2%
S&P 500+18%+11%
Months that ended higher
IPST33%18%
S&P 50075%46%
Largest fall from a high during the year
IPST−96%−95%
S&P 500−19%−9%

Worst fall since November 22, 2024: 100% from November 26, 2024 to August 10, 2026. Getting back needed a 76130% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.91 – $296.40
From 52-week high
−99.3%
vs 50-day average
−33.8%
vs 200-day average
−69.0%
Volatility (1 year)
317%
Beta vs S&P 500
0.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
0 up, 1 down
typical move ±3.5%
After a week
0 up, 1 down
typical move ±3.2%
After a month
0 up, 1 down
typical move ±62.4%
Results releasedNext dayS&P 500 next day5 days21 days
February 27, 2026 −3.5% −0.4% −3.2% −62.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

IP Strategy Holdings, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) IP Strategy Holdings, Inc.
$7M $8M $9M $10M $11M FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue (TTM), FY24 Q2: $8.1M Revenue (TTM), FY24 Q3: $7.8M Revenue (TTM), FY24 Q4: $8.4M Revenue (TTM), FY25 Q1: $7.8M Revenue (TTM), FY25 Q2: $7.3M Revenue (TTM), FY25 Q3: $8.5M Revenue (TTM), FY25 Q4: $10.1M Revenue (TTM), FY26 Q1: $10.7M Revenue (TTM), FY26 Q2: $10.2M $10.2M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $8.1M
FY24 Q3 $7.8M
FY24 Q4 $8.4M
FY25 Q1 $7.8M
FY25 Q2 $7.3M
FY25 Q3 $8.5M
FY25 Q4 $10.1M
FY26 Q1 $10.7M
FY26 Q2 $10.2M
Revenue growth, TTM YoY IP Strategy Holdings, Inc.
-20% 0% 20% 40% FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 Revenue growth, TTM YoY, FY25 Q2: -10.1% Revenue growth, TTM YoY, FY25 Q3: 9.5% Revenue growth, TTM YoY, FY25 Q4: 20.4% Revenue growth, TTM YoY, FY26 Q1: 37.9% Revenue growth, TTM YoY, FY26 Q2: 39.7% 39.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY25 Q2 -10.1%
FY25 Q3 9.5%
FY25 Q4 20.4%
FY26 Q1 37.9%
FY26 Q2 39.7%
Operating margin (TTM) IP Strategy Holdings, Inc.
-3000% -2000% -1000% 0% FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Operating margin (TTM), FY24 Q2: -107.3% Operating margin (TTM), FY24 Q3: -112.1% Operating margin (TTM), FY24 Q4: -177.6% Operating margin (TTM), FY25 Q1: -194.4% Operating margin (TTM), FY25 Q2: -268.2% Operating margin (TTM), FY25 Q3: -218.5% Operating margin (TTM), FY25 Q4: -1323.6% Operating margin (TTM), FY26 Q1: -1842.6% Operating margin (TTM), FY26 Q2: -2029.4% -2029.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -107.3%
FY24 Q3 -112.1%
FY24 Q4 -177.6%
FY25 Q1 -194.4%
FY25 Q2 -268.2%
FY25 Q3 -218.5%
FY25 Q4 -1323.6%
FY26 Q1 -1842.6%
FY26 Q2 -2029.4%
FCF margin (TTM) IP Strategy Holdings, Inc.
-200% -150% -100% -50% 0% FY24 Q3 FY25 Q1 FY25 Q3 FY26 Q2 FCF margin (TTM), FY24 Q3: -109.5% FCF margin (TTM), FY24 Q4: -134.7% FCF margin (TTM), FY25 Q1: -137.5% FCF margin (TTM), FY25 Q2: -115.6% FCF margin (TTM), FY25 Q3: -152.5% FCF margin (TTM), FY25 Q4: -152.2% FCF margin (TTM), FY26 Q1: -147.2% FCF margin (TTM), FY26 Q2: -164.9% -164.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 -109.5%
FY24 Q4 -134.7%
FY25 Q1 -137.5%
FY25 Q2 -115.6%
FY25 Q3 -152.5%
FY25 Q4 -152.2%
FY26 Q1 -147.2%
FY26 Q2 -164.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 8 8 10 10
Gross profit 2 2 6 7
EBITDA −10 −14 −133 −206
Operating income −11 −15 −134 −206
Net income −37 1 −138 −210
Diluted EPS −$96.45 −$39.46 −$16.03 —
Growth (year on year)
Revenue — +5.4% +20.4% +39.7%
Net income — — <−999% —
Margins
Gross margin 27.0% 25.3% 54.9% 65.4%
EBITDA margin −123.4% −162.3% <−999% <−999%
Operating margin −141.3% −177.6% <−999% <−999%
Net margin −461.6% 8.5% <−999% <−999%
Free-cash-flow margin −106.7% −134.7% −152.2% −164.9%
Cash flow
Cash from operations −8 −11 −15 −17
Capital spending 0 0 0 0
Free cash flow −9 −11 −15 −17
Stock-based pay 0 5 4 4
Free cash flow after stock pay −9 −16 −20 −20
Balance sheet
Cash 0 0 0 0
Total debt 52 13 3 3
Net debt (negative = net cash) 52 13 2 3
Diluted shares — — 9m —
Returned to shareholders
Buybacks 0 0 0 —
Total returned 0 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $30m
Short-term assets $3mLonger-term assets $27m
What it owes, and who funded it · $30m
Short-term liabilities $10mLonger-term liabilities $1mShareholders' equity $18m
  • Short-term assets cover short-term liabilities $3m of assets due within a year against $10m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3m short-term assets against $1m of longer-dated liabilities.
  • More cash than debt $19,362 of cash against $3m of debt.
  • Debt below 40% of shareholders' equity Debt is 14% of equity.
  • 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 −$17m of operating cash flow against $3m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From IP Strategy Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$17,030
Days sales outstanding
10 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in beverages
Last 12 months unless stated IPST WNW AGCC EPSM REED IBG Median
Revenue, last 12 months $10m $7m $6m $5m $29m $3m $723m
Revenue growth, last 12 months 39.7% >999% 144.6% −59.1% −19.1% −5.1% 6.6%
Revenue growth, latest quarter −44.3% — — — −21.4% — 6.4%
Gross margin 65.4% 10.1% 30.4% 14.7% 18.0% 44.2% 42.6%
Operating margin <−999% −124.1% 12.6% −29.2% −61.4% −194.2% −0.9%
Operating margin, 3-year average −801.6% — — — −38.5% — 11.9%
Net margin <−999% −262.5% 9.8% −29.3% −63.5% −223.4% −1.6%
Cash from operations / revenue −164.4% 127.6% −120.8% −46.5% −50.2% −56.3% 9.9%
Free-cash-flow margin −164.9% 127.6% — −46.6% −50.2% −56.7% 9.0%
Stock pay / revenue 35.7% 11.7% — — 0.0% 71.1% 1.2%
Change in share count — 95.8% 27.3% 0.0% 43.8% 41.7% 0.0%

Median of all 26 companies we cover in beverages. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

26 beverages companies
Measure Company Peer median Rank
Revenue growth Growth 39.7% 6.9% 4 of 26
Change in growth rate Growth +1.8pp +0.6pp 9 of 26
Gross margin Profitability 65.4% 44.2% 2 of 26
Operating margin Profitability -2029.4% -0.7% 25 of 26
Net margin Profitability -2064.0% -1.5% 25 of 26
Free-cash-flow margin Cash generation -164.9% 9.6% 23 of 24
Stock pay as % of revenue Cash generation 35.7% 1.2% 20 of 23
Long-term debt as % of assets Balance sheet 8.6% 12.9% 7 of 18
Days sales outstanding Balance sheet 10 days 33 days 2 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Heritage Distilling $5.2M 51.1% ▼ 38.5%
IP Strategy $5M 48.9% —
Products and services
Line of business Revenue Share YoY
Product and Service $5.2M 51.1% ▼ 38.5%
Products $4.2M 81.3% ▼ 36.5%
Services $968,935 18.7% ▼ 45.8%
Crypto and Related $5M 48.9% —
Third Party $0 0.0% ▼ 100.0%

From IP Strategy Holdings, Inc.'s 10-K filed April 14, 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.

Who owns it

13F filings for June 30, 2026
Reported value
$151,264
Institutions reporting
13
Shares held vs prior quarter
▲ 43687.1%
Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Arrington Capital Management, LLC $48,610 21K 32.1% New
Susquehanna International Group, LLP $41,790 18K 27.6% New
Citadel Advisors LLC $29,549 13K 19.5% New
Vanguard Capital Management LLC $11,929 5K 7.9% New
A16Z Capital Management, L.L.C. $9,722 4K 6.4% New
Vanguard Fiduciary Trust Co $5,537 2K 3.7% New
Tower Research Capital LLC (TRC) $2,484 1K 1.6% New
Vanguard Global Advisers, LLC $790 0K 0.5% New
Morgan Stanley $729 0K 0.5% New
Blackrock, Inc. $73 0K 0.0% New
Barclays PLC $35 0K 0.0% New
Harbour Investments, Inc. $14 0K 0.0% ▼ 95.2%

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 IP Strategy 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

No open-market insider trades reported in the last 12 months.

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

Results announcements

  • February 27, 2026

Recent SEC filings

Data status

When each part of this page on IP Strategy Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

IP Strategy Holdings, Inc. in brief

What does IP Strategy Holdings, Inc. do?
IP Strategy Holdings, Inc. is a US-listed company in the beverages industry. Its financial year ends in December.
What is IP Strategy Holdings, Inc.'s stock ticker?
IP Strategy Holdings, Inc. trades under the ticker IPST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is IP Strategy Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, IP Strategy Holdings, Inc. reported revenue of $10.2M, 39.7% higher than a year earlier, according to its SEC filings.
What is IP Strategy Holdings, Inc.'s free cash flow?
IP Strategy Holdings, Inc.'s free-cash-flow margin is -164.9% of revenue over the trailing twelve months, ranking 23 of the 24 beverages companies we cover.
Who are IP Strategy Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Arrington Capital Management, LLC, Susquehanna International Group, LLP and Citadel Advisors LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is IP Strategy Holdings, Inc.'s market cap?
On December 31, 2025, IP Strategy Holdings, Inc.'s market capitalisation was about $269M and net debt of $2.3M. Market figures come from third-party market data and may be delayed.
How much debt does IP Strategy Holdings, Inc. have?
IP Strategy Holdings, Inc.'s debt-to-equity ratio is 13.9%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are IP Strategy Holdings, Inc.'s competitors?
In our Beverages peer group, the companies closest to IP Strategy Holdings, Inc. are Meiwu Technology Co Ltd, Agencia Comercial Spirits Ltd., Epsium Enterprise Ltd, Reed's, Inc. and Innovation Beverage Group Ltd. The side-by-side comparison below sets their revenue, margins and growth against IP Strategy Holdings, Inc.'s.