Recent News
Late January 2026 coverage highlighted notable intraday and multi-day share declines and renewed analyst attention. On February 4–5, 2026 the company presented at an emerging-growth virtual investor conference, increasing corporate visibility to small‑cap investors. Throughout the period a series of coverage pieces and conference listings referenced the company’s growth narrative and recent financial disclosures in late 2025 and early 2026.
Technical Analysis
Directional Indicators (ADX / DI+ / DI-): ADX at 43.34 signals a very strong directional move; DI- at 51.74 and rising while DI+ at 14.92 and falling indicates dominant negative directional pressure and a bearish near-term bias.
MACD: MACD sits at -2.15 and is declining with the MACD below its signal line (-1.52), which denotes continuing bearish momentum rather than a bullish crossover.
MRO: MRO reads -9.28 (negative), which implies price currently sits below the regression target and therefore carries mean-reversion upside potential; this creates a technical counterpoint to the prevailing negative momentum.
RSI: RSI at 32.5 and falling places the name near oversold territory, supporting the possibility of a short-term bounce but reflecting ongoing selling pressure while it trends lower.
Price vs Moving Averages / Ichimoku / Bollinger: Last close $17.46 remains below short- and long-term averages (12-day EMA $21.13, 26-day EMA $23.49, 50-day average $25.69, 200-day average $34.51) and below the Ichimoku cloud (Senkou A $27.98, Senkou B $34.03), reinforcing a bearish technical configuration. Price sits under the one‑standard‑deviation lower Bollinger band ($18.78), indicating an excursion toward the lower volatility envelope.
Volume & Volatility: On recent trade days volume (3,127) trails the 10‑day average (4,642) and the 200‑day average (11,583), suggesting weaker conviction behind moves; 42‑day and 52‑week volatility indicate moderate realized variability (both 0.04). Overall, technicals favor further downside pressure, with the MRO and near‑oversold RSI offering scope for a corrective rebound rather than a durable momentum flip.
Fundamental Analysis
Revenue & Margins: Total revenue $26,334,000 with revenue growth reported at 29.10% (overall) and YoY revenue growth of 3.32%; QoQ revenue growth shows a substantial uplift (146.87% QoQ). Gross profit $19,292,000 produces a gross margin of 73.26%, which sits above the industry peer mean (55.24%) and median (56.57%), supporting higher unit economics for the platform.
Profitability & Operating Efficiency: EBIT (operating income) equals -$4,157,000, yielding an EBIT/operating margin of -15.79%, well below the industry peer mean (18.23%) and median (20.41%). QoQ improvement in EBIT margin shows +18.30% and YoY improvement registers +182.09%, indicating margin recovery from deeper loss levels but not yet reaching peer profitability norms. Asset turnover at 0.4471 exceeds the industry peer mean (0.2020), suggesting relatively efficient revenue generation from assets.
Cash, Liquidity & Leverage: Cash $33,532,000 and cash and short‑term investments $36,625,000 supply liquidity, but current ratio at 0.6841 falls below the industry peer mean (2.0306), indicating constrained near‑term working capital coverage. Total debt remains modest at $3,307,000 and debt‑to‑assets at 5.10% ranks below the industry peer mean (12.48%), reflecting low financial leverage despite negative equity (total equity -$23,919,000) and negative net working capital (-$27,359,000).
Returns & Capital Efficiency: Return on invested capital 13.04% exceeds the industry peer mean (4.97%) and return on equity 19.88% appears positive in the metrics; return on assets registers -8.07% against a peer mean of 2.67%. Those mixed return signals derive from strong margin on gross profit, improving operating margins QoQ and YoY, and a capital base distorted by negative equity.
Valuation: The current valuation as determined by WMDST: under‑valued. Supporting factors: high gross margin, above‑peer asset turnover, and QoQ/YoY margin improvements. Offsetting factors: negative operating income, negative equity, low current ratio, and constrained operating cash flow margin (-18.06%). The balance of these inputs underpins WMDST’s under‑valued assessment rather than a claim of immediate fundamental recovery.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-12-19 |
| NEXT REPORT DATE: | 2026-03-20 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ -4.75 M | |
| Capital Expenditures | — | |
| Change In Working Capital | $ 4.8 M | |
| Dividends Paid | — | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 26.3 M | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | $ 7.0 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 1.6 M | |
| Total Operating Expenses | $ 30.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 19.3 M | |
| EBITDA | $ -4.16 M | |
| EBIT | $ -4.16 M | |
| Operating Income | $ -4.16 M | |
| Interest Income | $ 138.0 K | |
| Interest Expense | — | |
| Net Interest Income | $ 138.0 K | |
| Income Before Tax | $ -4.50 M | |
| Tax Provision | $ 264.0 K | |
| Tax Rate | 25.0 % | |
| Net Income | $ -4.75 M | |
| Net Income From Continuing Operations | $ -4.75 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ -0.05 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 64.9 M | |
| Intangible Assets | $ 71.0 K | |
| Net Tangible Assets | $ -23.99 M | |
| Total Current Assets | $ 59.2 M | |
| Cash and Short-Term Investments | $ 36.6 M | |
| Cash | $ 33.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 481.0 K | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 86.6 M | |
| Net Debt | — | |
| Total Debt | $ 3.3 M | |
| Total Liabilities | $ 88.7 M | |
| EQUITY | ||
| Total Equity | $ -23.92 M | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | — | |
| Shares Outstanding | — | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | — |
| Enterprise Value | — | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | -2.712 | |
| Asset To Liability | 0.732 | |
| Debt To Capital | -0.16 | |
| Debt To Assets | 0.051 | |
| Debt To Assets QoQ | 37.821 % | |
| Debt To Assets YoY | 144.978 % | |
| Debt To Assets IPRWA | high: 0.597 mean: 0.125 median: 0.093 COE: 0.051 low: 0.003 |
|
| Debt To Equity | -0.138 | |
| Debt To Equity QoQ | 31.052 % | |
| Debt To Equity YoY | 133.429 % | |
| Debt To Equity IPRWA | high: 1.639 mean: 0.246 median: 0.149 low: 0.012 COE: -0.138 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | — | |
| Price To Book QoQ | — | |
| Price To Book YoY | — | |
| Price To Book IPRWA | — | |
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -745.317 | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.812 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.447 | |
| Asset Turnover Ratio QoQ | 7.873 % | |
| Asset Turnover Ratio YoY | 15.319 % | |
| Asset Turnover Ratio IPRWA | high: 0.514 COE: 0.447 mean: 0.202 median: 0.165 low: 0.041 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 101.187 mean: 9.174 median: 2.199 COE: 0 low: -28.187 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -0.963 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ -23.92 M | |
| Net Invested Capital | $ -23.92 M | |
| Invested Capital | $ -23.92 M | |
| Net Tangible Assets | $ -23.99 M | |
| Net Working Capital | $ -27.36 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.423 | |
| Current Ratio | 0.684 | |
| Current Ratio QoQ | -3.351 % | |
| Current Ratio YoY | -3.828 % | |
| Current Ratio IPRWA | high: 6.775 mean: 2.031 median: 1.653 COE: 0.684 low: 0.325 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.796 | |
| Cost Of Debt | 4.872 % | |
| Interest Coverage Ratio | -24.31 | |
| Interest Coverage Ratio QoQ | 52.719 % | |
| Interest Coverage Ratio YoY | 428.881 % | |
| Interest Coverage Ratio IPRWA | high: 84.737 mean: 20.276 median: 9.076 low: -23.424 COE: -24.31 |
|
| Operating Cash Flow Ratio | -0.055 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 22.534 % | |
| Revenue Growth | 29.101 % | |
| Revenue Growth QoQ | 146.87 % | |
| Revenue Growth YoY | 3.32 % | |
| Revenue Growth IPRWA | COE: 29.101 % high: 22.509 % median: 21.391 % mean: 15.613 % low: -26.045 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 73.259 % | |
| Gross Margin QoQ | -1.798 % | |
| Gross Margin YoY | -6.973 % | |
| Gross Margin IPRWA | high: 88.469 % COE: 73.259 % median: 56.571 % mean: 55.241 % low: 20.91 % |
|
| EBIT Margin | -15.786 % | |
| EBIT Margin QoQ | 18.3 % | |
| EBIT Margin YoY | 182.094 % | |
| EBIT Margin IPRWA | high: 29.284 % median: 20.409 % mean: 18.228 % COE: -15.786 % low: -51.547 % |
|
| Return On Sales (ROS) | -15.786 % | |
| Return On Sales QoQ | 18.3 % | |
| Return On Sales YoY | 182.094 % | |
| Return On Sales IPRWA | high: 27.787 % median: 20.409 % mean: 18.074 % COE: -15.786 % low: -51.547 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | — | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | — | |
| Free Cash Growth QoQ | — | |
| Free Cash Growth YoY | — | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | — | |
| Cash Flow Margin | -18.057 % | |
| Cash Flow To Earnings | 1.0 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -8.073 % | |
| Return On Assets QoQ | 30.399 % | |
| Return On Assets YoY | 362.106 % | |
| Return On Assets IPRWA | high: 5.867 % median: 2.974 % mean: 2.672 % COE: -8.073 % low: -9.118 % |
|
| Return On Capital Employed (ROCE) | 19.121 % | |
| Return On Equity (ROE) | 0.199 | |
| Return On Equity QoQ | 21.094 % | |
| Return On Equity YoY | 329.466 % | |
| Return On Equity IPRWA | high: 0.328 COE: 0.199 median: 0.057 mean: 0.054 low: -0.133 |
|
| DuPont ROE | 22.388 % | |
| Return On Invested Capital (ROIC) | 13.035 % | |
| Return On Invested Capital QoQ | 18.511 % | |
| Return On Invested Capital YoY | 448.611 % | |
| Return On Invested Capital IPRWA | high: 14.048 % COE: 13.035 % median: 5.742 % mean: 4.966 % low: -12.073 % |
|