# Stablecoin Development Corporation (SDEV) · Edgar & Edgarette company card

> Stablecoin Development (SDEV) saw revenue fall 6.4% in FY2024 to $10 million, operating margin -75.4% against a -6.4% median for finance services, equity -3.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1389545 · fiscal year ended 2024-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SDEV) · [JSON](https://www.pops4.com/boards/company/SDEV.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $10M |
| Revenue growth, 1 year | -6.4% |
| Revenue growth per year | -0.4% |
| Operating margin | -75.4% (prior year -39.2%) |
| Net margin | -73.8% |
| Operating cash flow | −$7M |
| Capital spending | $6,000 |
| Free cash flow | −$8M |
| Cash | $430,000 |
| Long-term debt | — |
| Total assets | $3M |
| Total equity | −$129,000 |
| Equity ÷ assets | -3.8% |
| Return on equity | — |
| Dividend per share | $4 |
| Dividend years rising | 0 |

## Readings, computed from those figures

- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed earlier statements no longer to be relied on, auditor change in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; revenue is hard to predict: its 80% range is ±61%
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $9.8M (FY2024). Experience: revenue down 6.4% on the year, down 0.4% a year over 4 years; operating margin -75.4%, down from -39.2%. Soundness: equity -3.8% of assets (liabilities exceed assets). Credibility: four or more audited years, moderate weight, marked down from reasonable: on 2026-04-29 the company said earlier statements should no longer be relied on (8-K Item 4.02), and no 10-K has been filed since. Range: 80% of past cases like this landed between $4.5M and $18.8M next year (method v4.1: its own 6-year record of growth weighed at 63% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $4.1M to $20.8M. A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin -75.4% against a -6.4% median; growth -6.4% against 16.8%.

## Health Watch, last 12 months

- Item 4.02 Earlier statements no longer to be relied on: 1, latest 2026-04-29 ([filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926013891/0001437749-26-013891-index.htm))
- Item 4.01 Auditor change: 2, latest 2026-01-30 ([filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926002586/0001437749-26-002586-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-09-08 ([filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926029847/0001437749-26-029847-index.htm))

## Recent filings

- 8-K · filed 2026-10-29 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926033952/0001437749-26-033952-index.htm)
- 10-Q · filed 2026-10-29 · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926033940/0001437749-26-033940-index.htm)
- 8-K · filed 2026-10-05 · 2.02 Results of Operations and Financial Condition; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926031972/0001437749-26-031972-index.htm)
- 8-K · filed 2026-09-29 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926031464/0001437749-26-031464-index.htm)
- DEF 14A · filed 2026-09-28 · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926031344/0001437749-26-031344-index.htm)
- 8-K · filed 2026-09-08 · 3.03 Material Modifications to Rights of Security Holders; 5.02 Departure or Election of Directors; Appointment of Officers; 5.03 Amendments to Articles or Bylaws; Change in Fiscal Year; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1389545/000143774926029847/0001437749-26-029847-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001389545.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1389545

## Cite

POPS4, Edgar & Edgarette: Stablecoin Development Corporation (SDEV) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/SDEV. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Its latest audited year is FY2025, which reports no revenue; the revenue figures and the range here are from FY2024, its last year with revenue on record. Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.