One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Empery Digital Inc.
EMPD · NMS · Consumer Cyclical · Recreational Vehicles
Current price
$2.06
52-week range
$1.91 - $6.60
Market cap
$57.16M
Balance sheet
Healthy
-13.68x Concerning
Net cash $42.57M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
3 Risks
0 rewards · 3 risks
- Risk Operating margin compressed from -705.2% to -5640.0% over 3 years.
- Risk Net debt grew 1024.8% over 3 years.
- Risk Return on equity was -74.0% last year — the company lost money on shareholders' equity.
What this company does
Empery Digital Inc.
Empery Digital Inc. is a company that manages digital assets, which are like digital money or investments. Their main income comes from providing services related to these digital assets. This is important because it shows how they make money in the new world of digital finance.
How the company got here
Empery Digital Inc. was founded in 2020, originally as Volcon, Inc., and was focused on being the first all-electric powersports company. The company has since undergone a significant transformation, changing its name to Empery Digital in July 2025. This pivot reflects a strategic shift away from electric vehicles and towards a digital asset treasury business, primarily focused on Bitcoin. The company's leadership has been instrumental in this change, with the current CEO, John Kim, credited with reconstructing the company, clearing its debts, and raising capital within his first year. This rebranding and strategic redirection mark a key turning point, positioning Empery Digital for its current focus on digital assets and AI infrastructure.
What it actually does
Empery Digital is now primarily a digital asset treasury company. This means it holds and manages digital assets, with a strong focus on Bitcoin (BTC), as its main treasury reserve. The company's strategy involves aggregating Bitcoin and aiming to increase the amount of Bitcoin it holds per share of its own stock. They believe Bitcoin is a future store of value and aim to be a leading global aggregator of this digital asset. In addition to its digital asset strategy, Empery Digital is also strategically expanding into AI infrastructure and data center investments.
Bitcoin Treasury
This is Empery Digital's core business. The company holds Bitcoin (BTC) as its primary treasury asset, believing it will become a major store of value in the future. Their goal is to be a leading, low-cost, transparent, and global aggregator of Bitcoin. They aim to maximize the amount of Bitcoin held per share of Empery Digital stock. This strategy involves carefully managing their Bitcoin holdings and potentially using equity issuance to raise capital when their stock price is high relative to its net asset value (NAV), which is the value of their underlying assets. They have also explored using borrowing arrangements secured by their Bitcoin holdings to fund operations, including share repurchases.
AI Infrastructure and Data Centers
Empery Digital is strategically expanding into the development of AI infrastructure and data centers. This involves investing in private entities that acquire and convert facilities into state-of-the-art AI data centers. The company partners with experienced real estate and energy infrastructure developers to capitalize on the growth at the intersection of digital assets and next-generation computing. These investments are designed to generate cash flow and are often structured so that the tenant covers build-out, power usage, and operating costs, limiting Empery Digital's capital requirements to its initial investment. The company has indicated it may sell Bitcoin to fund these infrastructure projects.
Empery Mobility (Electric Vehicles)
While Empery Digital has pivoted significantly, it retains a segment focused on electric mobility, operating under the Empery Mobility brand name. This segment was originally the company's core business when it was founded as Volcon, Inc., focusing on all-electric powersports vehicles. Currently, Empery Mobility is focused on the e-bike market, developing and selling new models. The company has divested its previous powersports business and four-wheel vehicle operations to another entity.
What management is betting on now
Management's current strategy centers on building long-term shareholder value through a disciplined capital allocation approach. This involves continuing its Bitcoin treasury strategy while aggressively expanding into AI infrastructure and data center investments. They are partnering with experienced developers to build these data centers, aiming to capture growth at the intersection of digital assets and advanced computing. The company believes this dual focus on digital assets and AI infrastructure will drive sustainable, long-term shareholder value, with a commitment to transparency, efficiency, and accountability in their decision-making.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-3.80M
FY2025 Q1
$-3.77M
FY2025 Q2
$-3.66M
FY2025 Q3
$-7.62M
FY2025 Q4
$-2.99M
FY2026 Q1
$-3.52M
FY2026 Q2
$-6.90M
FY2026 Q3
$-14.97M
Revenue
$99.61K
Net income
$23.99M
Diluted EPS
0.80
Operating cash flow
$-14.96M
Free cash flow
$-14.97M
Fetching…
Sources
Revenue
$80.02K
Net income
$-43.03M
Diluted EPS
-1.53
Operating cash flow
$-6.90M
Free cash flow
$-6.90M
Fetching…
Sources
Revenue
$225.70K
Net income
$-85.40M
Diluted EPS
-2.59
Operating cash flow
$-3.50M
Free cash flow
$-3.52M
Fetching…
Sources
Revenue
$-662.31K
Net income
$-109.14M
Diluted EPS
1.32
Operating cash flow
$-2.99M
Free cash flow
$-2.99M
Fetching…
Sources
Revenue
$198.30K
Net income
$-34.56M
Diluted EPS
-0.96
Operating cash flow
$-7.62M
Free cash flow
$-7.62M
Fetching…
Sources
Revenue
$702.94K
Net income
$-3.90M
Diluted EPS
-7.57
Operating cash flow
$-3.66M
Free cash flow
$-3.66M
Fetching…
Sources
Revenue
$736.05K
Net income
$-2.46M
Diluted EPS
-0.91
Operating cash flow
$-3.57M
Free cash flow
$-3.77M
Fetching…
Sources
Revenue
$986.92K
Net income
$-5.22M
Diluted EPS
-118.19
Operating cash flow
$-3.77M
Free cash flow
$-3.80M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $2.06
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $42.6M - more cash than debt. Interest coverage -13.7x.
Net debt
$-42.57M
Interest coverage
-13.68x
Empery Digital Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
EMPD
BASELINE
Empery Digital Inc.
Total debt $35.48M Interest coverage -13.68x This is the baseline the peer rows are being compared against.
Total debt $909.97M Interest coverage 6.17x This peer still has a real interest-payment cushion, while EMPD does not.
Total debt $3.68B Interest coverage 0.90x This peer still has a real interest-payment cushion, while EMPD does not.
Total debt $1.14B Interest coverage 7.84x This peer still has a real interest-payment cushion, while EMPD does not.
Total debt $1.61B Interest coverage 3.70x This peer still has a real interest-payment cushion, while EMPD does not.
What you should know
The case for and against EMPD
0 Rewards
3 Risks
Rewards
Risks
-
Operating margin compressed from -705.2% to -5640.0% over 3 years.
-
Net debt grew 1024.8% over 3 years.
-
Return on equity was -74.0% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
12.88x
P/B
0.42x
P/S
107.96x
EV/EBITDA
-0.63x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-41.7%
Operating margin
-5,640.0%
Net margin
0.0%
ROE
-74.0%
ROA
-4.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.26x
Current ratio
8.52x
Quick ratio
8.29x
Total debt
$35.48M
Total cash
$78.05M
Growth
How the business has been compounding
Revenue TTM
$-256.98K
Revenue 5Y CAGR
21.4%
EPS TTM
-8.27
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-28.35M
Free CF TTM
$-18.05M
FCF margin
7,025.3%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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