# Stratum Holdings Corp. (SRTM) · Edgar & Edgarette company card

> Stratum Holdings (SRTM) grew revenue 16.7% in FY2025 to $69 million, operating margin -29.7% against a -0.5% median for real estate agents & managers (for others), equity -45.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1879403 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/SRTM) · [JSON](https://www.pops4.com/boards/company/SRTM.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $69M |
| Revenue growth, 1 year | 16.7% |
| Revenue growth per year | 37.8% |
| Operating margin | -29.7% (prior year -19.1%) |
| Net margin | -44.6% |
| Operating cash flow | −$8M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $3M |
| Long-term debt | $641,227 |
| Total assets | $13M |
| Total equity | −$6M |
| Equity ÷ assets | -45.3% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed late annual report notice, earlier statements no longer to be relied on, late quarterly report notice, auditor change in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; operating loss: a margin of -29.7% in FY2025; revenue is hard to predict: its 80% range is ±43%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $68.5M (FY2025), total debt $641K. Experience: revenue up 16.7% on the year, up 37.8% a year over 3 years; operating margin -29.7%, down from -19.1%. Soundness: equity -45.3% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $52.9M and $133.4M next year (method v4.1: its own 3-year record of growth weighed at 40% against $50M–100M 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 $54.8M to $129.2M. A statistical range, not company guidance. Against peers (12 filers, $50M+ revenue, real estate agents & managers (for others)): operating margin -29.7% against a -0.5% median; growth 16.7% against 5.6%.

Range logged 2026-09-24, receipt cab1d93c759d21d5, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 2, latest 2026-04-01 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026038513/0001213900-26-038513-index.htm))
- Item 3.01 Exchange listing notice or transfer: 4, latest 2026-08-25 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026093193/0001213900-26-093193-index.htm))
- Item 4.02 Earlier statements no longer to be relied on: 1, latest 2026-04-24 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026047626/0001213900-26-047626-index.htm))
- Item NT 10-Q Late quarterly report notice: 3, latest 2026-08-14 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026090046/0001213900-26-090046-index.htm))
- Item 4.01 Auditor change: 1, latest 2026-09-18 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026101435/0001213900-26-101435-index.htm))
- Item 5.02 Director or officer change: 6, latest 2026-10-01 ([filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026105473/0001213900-26-105473-index.htm))

## Recent filings

- S-1 · filed 2026-10-29 · [filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026113906/0001213900-26-113906-index.htm)
- DEF 14A · filed 2026-10-27 · [filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026112913/0001213900-26-112913-index.htm)
- 8-K · filed 2026-10-26 · 3.02 Unregistered Sales of Equity Securities; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026112229/0001213900-26-112229-index.htm)
- 8-K · filed 2026-10-19 · 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/1879403/000121390026110734/0001213900-26-110734-index.htm)
- 8-K · filed 2026-10-01 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 3.02 Unregistered Sales of Equity Securities; 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; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026105473/0001213900-26-105473-index.htm)
- 8-K · filed 2026-09-29 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1879403/000121390026104651/0001213900-26-104651-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001879403.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1879403

## Cite

POPS4, Edgar & Edgarette: Stratum Holdings Corp. (SRTM) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/SRTM. 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.

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.