Forcendra Holding Ltd is a US-listed company in the advertising industry. Its financial year ends in December.
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Forcendra Holding Ltd valuation: adjust assumptions and compare models →
Revenue for the twelve months was $8m, down 8.8% on a year earlier, against growth of 3.2% a quarter earlier. Free-cash-flow margin held at -46.9%. Operating margin narrowed to -85.4% from -0.6%. The diluted share count is up 946.2% on a year earlier, which dilutes existing holders. It passes 2 of our 3 financial-health checks.
Our model value for Forcendra Holding is under review, so past values are not shown until it is resolved.
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.
Forcendra Holding Ltd's trailing-twelve-month revenue fell 8.8% year on year, with a free-cash-flow margin of -46.9%.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 136.6% while net income fell 18.1%: a 118pp divergence.
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 recent updates are available for VSME from the sources we follow. See filings →
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
No analyst estimates are published for Forcendra Holding Ltd: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY21 Q4 | $10.9M |
| FY22 Q4 | $9M |
| FY23 Q4 | $8M |
| FY24 Q4 | $8.2M |
| FY25 Q4 | $7.5M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY22 Q4 | -17.5% |
| FY23 Q4 | -11.5% |
| FY24 Q4 | 3.2% |
| FY25 Q4 | -8.8% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY21 Q4 | -0.6% |
| FY22 Q4 | -18.2% |
| FY23 Q4 | -80.3% |
| FY24 Q4 | -83.7% |
| FY25 Q4 | -85.4% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY21 Q4 | -12.9% |
| FY23 Q4 | -90.7% |
| FY24 Q4 | -18.1% |
| FY25 Q4 | -46.9% |
| Fiscal year | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 11 | 9 | 8 | 8 | 8 |
| Gross profit | 2 | 2 | 2 | 2 | 2 |
| EBITDA | 0 | −2 | −6 | −7 | −6 |
| Operating income | −0 | −2 | −6 | −7 | −6 |
| Net income | −0 | 4 | −7 | −7 | −9 |
| Diluted EPS | −$0.02 | $2.46 | −$4.62 | −$4.61 | −$5.20 |
| Growth (year on year) | |||||
| Revenue | — | −17.5% | −11.5% | +3.2% | −8.8% |
| Net income | — | — | −287.1% | — | — |
| Diluted EPS | — | — | −287.6% | — | — |
| Margins | |||||
| Gross margin | 20.9% | 25.3% | 20.5% | 20.5% | 23.7% |
| EBITDA margin | 0.0% | −17.2% | −79.1% | −83.6% | −85.3% |
| Operating margin | −0.6% | −18.2% | −80.3% | −83.7% | −85.4% |
| Net margin | −2.1% | 39.0% | −82.5% | −88.4% | −114.5% |
| Free-cash-flow margin | −12.9% | — | −90.7% | −18.1% | −46.9% |
| Cash flow | |||||
| Cash from operations | −1 | −2 | −7 | −1 | −4 |
| Capital spending | 0 | — | 0 | 0 | 0 |
| Free cash flow | −1 | — | −7 | −1 | −4 |
| Stock-based pay | — | — | 1 | 1 | 0 |
| Free cash flow after stock pay | — | — | −8 | −2 | −4 |
| Balance sheet | |||||
| Cash | — | 1 | 2 | 1 | 1 |
| Total debt | — | 1 | 0 | — | 0 |
| Net debt (negative = net cash) | — | −0 | −1 | −1 | −1 |
| Diluted shares | 10m | 1m | 1m | 2m | 2m |
| Last 12 months unless stated | VSME | TDIC | KNRX | TJGC | IZEA | STFS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $8m | $6m | $6m | $4m | $27m | $30m | $178m |
| Revenue growth, last 12 months | −8.8% | 10.5% | −44.2% | −5.9% | −28.2% | 79.5% | −3.2% |
| Gross margin | 23.7% | — | 48.8% | 21.5% | 44.7% | 7.7% | 36.0% |
| Operating margin | −85.4% | −134.7% | −155.5% | −78.1% | −15.8% | −16.2% | −3.4% |
| Net margin | −114.5% | −146.1% | −191.2% | −81.8% | −9.4% | −13.7% | −2.7% |
| Cash from operations / revenue | −46.7% | −39.4% | −172.5% | −101.3% | −5.8% | −12.7% | 2.2% |
| Free-cash-flow margin | −46.9% | −39.4% | −172.8% | −103.3% | −8.3% | — | 3.2% |
| Stock pay / revenue | 6.4% | — | — | −57.9% | 6.1% | 9.8% | 2.9% |
| Change in share count | 946.2% | — | 4.1% | 13.9% | 4.2% | 186.5% | 6.8% |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| HRT Financial LP | $25,000 | 14K | 52.0% | New |
| Jane Street Group, LLC | $23,043 | 13K | 48.0% | New |
| Caitong International Asset Management Co., Ltd | $2 | 0K | 0.0% | ▼ 75.0% |
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 Forcendra Holding Ltd's complete shareholder register. Values are as reported by the filers .
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.
| 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 |
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