Lite Strategy, Inc. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in June.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Lite Strategy has little or no product revenue yet; it used $9m of cash in the twelve months to June 2026. The diluted share count is up 418.7% on a year earlier, which dilutes existing holders.
Our model value for Lite Strategy is under review, so past values are not shown until it is resolved.
Source: 10-K filed September 28, 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.
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 20% in the quarter to 2024-06-30, the 2nd beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No model value for Lite Strategy, Inc. at the moment. Current status: data-quality checks not passed. Available reported financials are shown below.
Weak moat
How hard Lite Strategy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median -25.0% of total assets over 10 years.
Operating margin has been a median -131.3%; its worst year was -1762.4%.
The diluted share count rose 658.9% over five years; stock-based pay has been a median 22.0% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).
Next results: November 13, 2026, before the open.
No analyst estimates are published for Lite Strategy, Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2024 | −$1.40 | −$1.13 | +19.6% |
| Mar 2024 | −$1.26 | −$1.37 | −8.7% |
| Dec 2023 | −$1.27 | −$1.66 | −30.7% |
| Sept 2023 | −$1.79 | $8.46 | +571.3% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| LITS | +1% | −91% | +56% | −58% | −46% | −27% |
| Industry peers (median) | +13% | −80% | +44% | −15% | −10% | −30% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| LITS | 50% | 25% | 58% | 25% | 33% | 36% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| LITS | −48% | −92% | −40% | −61% | −81% | −52% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 99% from June 8, 2018 to June 10, 2026. Getting back needed a 10292% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| July 30, 2026 | +1.1% | +2.4% | −2.1% | +3.2% |
| May 13, 2026 | −2.4% | +1.4% | −10.4% | −40.8% |
| February 17, 2026 | −1.8% | +0.7% | −0.9% | +5.4% |
| May 13, 2025 | +6.2% | +0.8% | +2.9% | +8.1% |
| February 12, 2025 | +0.4% | +0.7% | −2.2% | −14.8% |
| November 14, 2024 | −3.6% | −1.9% | −7.3% | −14.9% |
| September 19, 2024 | −2.0% | +1.5% | −4.6% | −8.9% |
| May 9, 2024 | −4.4% | +0.7% | −7.3% | −9.8% |
| February 13, 2024 | −3.7% | −0.5% | −7.2% | −19.8% |
| November 9, 2023 | −1.2% | +0.8% | +9.5% | +18.0% |
| September 26, 2023 | −3.0% | −1.4% | −7.1% | −4.7% |
| May 11, 2023 | +0.1% | −0.3% | +7.0% | +5.2% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q1 | $41.7M |
| FY23 Q2 | $62.6M |
| FY23 Q3 | $58.8M |
| FY23 Q4 | $48.8M |
| FY24 Q1 | $105.4M |
| FY24 Q2 | $72.6M |
| FY24 Q3 | $66.8M |
| FY24 Q4 | $65.3M |
| FY25 Q1 | $0 |
| FY25 Q2 | $0 |
| FY25 Q3 | $0 |
| FY25 Q4 | $0 |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q1 | 16.0% |
| FY23 Q2 | 78.0% |
| FY23 Q3 | 60.0% |
| FY23 Q4 | 19.9% |
| FY24 Q1 | 152.9% |
| FY24 Q2 | 16.1% |
| FY24 Q3 | 13.6% |
| FY24 Q4 | 33.8% |
| FY25 Q1 | -100.0% |
| FY25 Q2 | -100.0% |
| FY25 Q3 | -100.0% |
| FY25 Q4 | -100.0% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY22 Q1 | -188.6% |
| FY22 Q2 | -198.0% |
| FY22 Q3 | -203.5% |
| FY22 Q4 | -185.5% |
| FY23 Q1 | -176.6% |
| FY23 Q2 | -75.2% |
| FY23 Q3 | -71.3% |
| FY23 Q4 | -75.3% |
| FY24 Q1 | 34.9% |
| FY24 Q2 | 21.9% |
| FY24 Q3 | 33.6% |
| FY24 Q4 | 22.3% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY17 Q4 | 14.8% |
| FY21 Q2 | 113.5% |
| FY21 Q3 | 90.1% |
| FY21 Q4 | -93.9% |
| FY22 Q1 | -85.3% |
| FY22 Q2 | -123.1% |
| FY22 Q3 | -121.6% |
| FY22 Q4 | -121.0% |
| FY23 Q1 | -135.2% |
| FY24 Q4 | -77.3% |
| Fiscal year | 2017 Jun 2017 | 2018 Jun 2018 | 2019 Jun 2019 | 2020 Jun 2020 | 2021 Jun 2021 | 2022 Jun 2022 | 2023 Jun 2023 | 2024 Jun 2024 | 2025 Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||
| Revenue | 23 | 2 | 5 | 28 | 35 | 41 | 49 | 65 | 0 |
| Gross profit | 18 | −2 | 1 | 25 | 33 | 41 | — | — | — |
| EBITDA | 2 | −29 | −46 | −26 | −60 | −75 | −36 | 15 | −17 |
| Operating income | 2 | −29 | −46 | −26 | −60 | −75 | −37 | 15 | −17 |
| Net income | 3 | −40 | −17 | −47 | −41 | −54 | −32 | 18 | −16 |
| Diluted EPS | $0.07 | −$0.97 | −$0.75 | −$0.52 | −$0.60 | −$9.99 | −$4.78 | $2.67 | −$2.39 |
| Growth (year on year) | |||||||||
| Revenue | — | −93.0% | +203.0% | +464.7% | +25.4% | +17.0% | +19.9% | +33.8% | −100.0% |
| EBITDA | — | <−999% | — | — | — | — | — | — | −214.5% |
| Operating income | — | <−999% | — | — | — | — | — | — | −220.0% |
| Net income | — | <−999% | — | — | — | — | — | — | −188.6% |
| Diluted EPS | — | <−999% | — | — | — | — | — | — | −189.5% |
| Margins | |||||||||
| Gross margin | 78.5% | −108.6% | 13.3% | 90.4% | 96.0% | 100.0% | — | — | — |
| EBITDA margin | 10.6% | <−999% | −939.3% | −92.2% | −172.8% | −184.7% | −74.5% | 22.9% | — |
| Operating margin | 10.3% | <−999% | −940.9% | −92.6% | −173.7% | −185.5% | −75.3% | 22.3% | — |
| Net margin | 11.5% | <−999% | −342.2% | −170.0% | −117.8% | −132.7% | −65.6% | 27.6% | — |
| Free-cash-flow margin | 14.8% | — | −603.1% | 120.2% | −93.9% | −121.0% | −107.6% | −77.3% | — |
| Cash flow | |||||||||
| Cash from operations | 3 | −21 | −29 | 34 | −32 | −49 | −52 | −50 | −21 |
| Capital spending | 0 | — | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Free cash flow | 3 | — | −30 | 33 | −33 | −49 | −53 | −50 | −21 |
| Stock-based pay | 2 | 3 | 7 | 7 | 10 | 8 | 4 | 2 | −0 |
| Free cash flow after stock pay | 1 | — | −36 | 27 | −43 | −58 | −56 | −53 | −21 |
| Balance sheet | |||||||||
| Cash | 8 | 13 | 10 | 12 | 9 | 16 | 17 | 4 | 18 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −8 | −13 | −10 | −12 | −9 | −16 | −17 | −4 | −18 |
| Diluted shares | 2m | 2m | 4m | 5m | 6m | 6m | 7m | 7m | 7m |
| Returned to shareholders | |||||||||
| Dividends | — | — | — | — | — | — | 0 | 12 | 0 |
| Buybacks | — | — | — | — | — | — | — | — | 0 |
| Total returned | — | — | — | — | — | — | 0 | 12 | 0 |
| Quarter | 2024 Q1 Sept 2023 | 2024 Q2 Dec 2023 | 2024 Q3 Mar 2024 | 2024 Q4 Jun 2024 | 2025 Q1 Sept 2024 | 2025 Q2 Dec 2024 | 2025 Q3 Mar 2025 | 2025 Q4 Jun 2025 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 65 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | 55 | −12 | −10 | −19 | −8 | −3 | −3 | −3 |
| Operating income | 55 | −12 | −10 | −19 | −8 | −3 | −3 | −3 |
| Net income | 56 | −11 | −9 | −18 | −8 | −3 | −3 | −3 |
| Diluted EPS | $8.46 | −$1.66 | −$1.37 | −$2.76 | −$1.20 | −$0.40 | −$0.39 | −$0.40 |
| Growth (year on year) | ||||||||
| Revenue | +648.0% | −100.0% | −100.0% | −100.0% | −100.0% | — | — | — |
| EBITDA | — | −231.3% | — | — | −114.4% | — | — | — |
| Operating income | — | −233.7% | — | — | −115.1% | — | — | — |
| Net income | — | −207.9% | — | — | −114.2% | — | — | — |
| Diluted EPS | — | −207.8% | — | — | −114.2% | — | — | — |
| Margins | ||||||||
| EBITDA margin | 84.8% | — | — | — | — | — | — | — |
| Operating margin | 84.7% | — | — | — | — | — | — | — |
| Net margin | 86.3% | — | — | — | — | — | — | — |
| Free-cash-flow margin | −28.3% | — | — | — | — | — | — | — |
| Cash flow | ||||||||
| Cash from operations | −18 | −11 | −3 | −18 | −11 | −4 | −3 | −2 |
| Capital spending | 0 | 0 | 0 | 0 | — | — | 0 | 0 |
| Free cash flow | −18 | −11 | −3 | −18 | — | — | −3 | −2 |
| Stock-based pay | 0 | 1 | 1 | 0 | −0 | −0 | 0 | 0 |
| Free cash flow after stock pay | −19 | −12 | −4 | −18 | — | — | −3 | −3 |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Renaissance Technologies LLC | $1.2M | 1.2M | 21.2% | ▼ 28.5% |
| Vanguard Capital Management LLC | $942,184 | 1.0M | 17.4% | ▼ 2.1% |
| Rlh Capital LLC | $743,854 | 806K | 13.7% | New |
| Two Sigma Investments, LP | $513,787 | 557K | 9.5% | ▼ 9.3% |
| Geode Capital Management, LLC | $337,085 | 365K | 6.2% | ▼ 9.0% |
| Citadel Advisors LLC | $329,785 | 358K | 6.1% | ▼ 51.0% |
| Blackrock, Inc. | $254,425 | 276K | 4.7% | ▲ 74.7% |
| Marshall Wace, LLP | $214,341 | 233K | 3.9% | ▼ 30.1% |
| Vanguard Fiduciary Trust Co | $180,151 | 195K | 3.3% | ▲ 0.7% |
| Jane Street Group, LLC | $177,679 | 193K | 3.3% | ▲ 236.5% |
| State Street Corp | $106,095 | 115K | 2.0% | 0.0% |
| UBS Group AG | $84,032 | 91K | 1.5% | ▲ 77.5% |
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 Lite Strategy, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Flynn James P Director | June 24, 2026 | Buy | 25,000 | $0.86 | $21,500 |
| Flynn James P Director | December 19, 2025 | Buy | 70,000 | $1.40 | $98,000 |
| Schornstein Alexander 10% owner | December 18, 2025 | Sell | 690,611 | $1.37 | $946,137 |
| Flynn James P Director | November 19, 2025 | Buy | 12,100 | $1.88 | $22,748 |
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 October 26, 2026 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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