DarkHorse Technologies Inc. (DRK) - Net Assets
Based on the latest financial reports, DarkHorse Technologies Inc. (DRK) has net assets worth $16.88 Million USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($24.87 Million) and total liabilities ($7.99 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. See debt-free asset ratio of DarkHorse Technologies Inc. to measure how much of total assets are equity-financed.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $16.88 Million |
| % of Total Assets | 67.86% |
| Annual Growth Rate | -19.43% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 41.88 |
DarkHorse Technologies Inc. - Net Assets Trend (2022–2025)
This chart illustrates how DarkHorse Technologies Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore how fast is DarkHorse Technologies Inc. growing its equity to track the company's year-over-year net asset growth rate.
Annual Net Assets for DarkHorse Technologies Inc. (2022–2025)
The table below shows the annual net assets of DarkHorse Technologies Inc. from 2022 to 2025. For live market cap and overall valuation, see market value of DarkHorse Technologies Inc..
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $23.30 Million | -40.74% |
| 2024-12-31 | $39.31 Million | +48.23% |
| 2023-12-31 | $26.52 Million | -40.48% |
| 2022-12-31 | $44.56 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to DarkHorse Technologies Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 5857100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $501.60 Million | 2152.80% |
| Total Equity | $23.30 Million | 100.00% |
DarkHorse Technologies Inc. Competitors by Market Cap
The table below lists competitors of DarkHorse Technologies Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Avax One Technology Ltd.
NASDAQ:AVX
|
$29.07 Million |
|
Tysnes Sparebank
OL:TYSB
|
$29.08 Million |
|
U Power Limited Ordinary Shares
NASDAQ:UCAR
|
$29.09 Million |
|
Quest Resource Holding Corp
NASDAQ:QRHC
|
$29.11 Million |
|
Imperial Equities Inc.
V:IEI
|
$29.06 Million |
|
Energía Innovación y Desarrollo Fotovoltaico S.A.
MC:EIDF
|
$29.05 Million |
|
Impero AS
CO:IMPERO
|
$29.04 Million |
|
Trajan Group Holdings Ltd
AU:TRJ
|
$29.04 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in DarkHorse Technologies Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 39,315,000 to 23,300,000, a change of -16,015,000 (-40.7%).
- Net loss of 21,482,000 reduced equity.
- Share repurchases of 431,000 reduced equity.
- New share issuances of 733,000 increased equity.
- Other factors increased equity by 5,165,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-21.48 Million | -92.2% |
| Share Repurchases | $431.00K | -1.85% |
| Share Issuances | $733.00K | +3.15% |
| Other Changes | $5.17 Million | +22.17% |
| Total Change | $- | -40.74% |
Book Value vs Market Value Analysis
This analysis compares DarkHorse Technologies Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.40x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.08x to 0.40x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | $35.57 | $2.75 | x |
| 2023-12-31 | $17.25 | $2.75 | x |
| 2024-12-31 | $15.45 | $2.75 | x |
| 2025-12-31 | $6.87 | $2.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently DarkHorse Technologies Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -92.20%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -192.13%
- • Asset Turnover: 0.45x
- • Equity Multiplier: 1.08x
- Recent ROE (-92.20%) is above the historical average (-189.36%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | -552.90% | -3172.63% | 0.07x | 2.38x | $-196.29 Million |
| 2023 | -88.25% | -106.85% | 0.48x | 1.72x | $-26.06 Million |
| 2024 | -24.09% | -57.02% | 0.38x | 1.10x | $-13.40 Million |
| 2025 | -92.20% | -192.13% | 0.45x | 1.08x | $-23.81 Million |
Industry Comparison
This section compares DarkHorse Technologies Inc.'s net assets metrics with peer companies in the Software - Infrastructure industry.
Industry Context
- Industry: Software - Infrastructure
- Average net assets among peers: $191,124,794
- Average return on equity (ROE) among peers: -5379.78%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| DarkHorse Technologies Inc. (DRK) | $16.88 Million | -552.90% | 0.47x | $29.07 Million |
| ACI Worldwide Inc (ACIW) | $210.36 Million | 1.00% | 0.57x | $5.14 Billion |
| Aeva Technologies, Inc. Common Stock (AEVA) | $25.09K | -78104.20% | 3.26x | $855.27 Million |
| Aeva Technologies, Inc. Common Stock (AEVA) | $456.38 Million | -22.24% | 0.05x | $906.22 Million |
| Allied Gaming & Entertainment Inc. (AGAE) | $87.90 Million | -12.31% | 0.11x | $22.76 Million |
| Axe Compute Inc. (AGPU) | $2.69 Million | -223.00% | 0.35x | $31.41 Million |
| C3 Ai Inc (AI) | $1.06 Billion | -5.25% | 0.13x | $1.81 Billion |
| Bitzero Holdings Inc. (AIBZ) | $12.85 Million | -136.93% | 2.33x | $214.38 Million |
| All In FutureTech Alliance Inc. (AIFA) | $77.53 Million | -21.61% | 0.46x | $19.90 Million |
| AI Financial Corporation (AIFC) | $2.31 Million | 476.46% | 19.27x | $60.97 Million |
| iLearningEngines, Inc. (AILE) | $28.28K | 24250.25% | 3.12x | $59.29 Million |
About DarkHorse Technologies Inc.
DarkHorse Technologies Inc. operates as a digital infrastructure company. It focuses on operating and expanding power and data center assets for computing, AI workloads, and digital asset infrastructure. The company was formerly known as Sphere 3D Corp. and changed its name to DarkHorse Technologies Inc. in September 2026. DarkHorse Technologies Inc. is based in Stamford, Connecticut.