TWAV
TaoWeave, Inc.
Next earnings Aug 12, 2026
Last earnings +8.2% on 2026-05-18
$1.43
▲ +9.16%$1.43▼ -61.66%
over 1Y
L $0.67H $5.32
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+9.2%
1W+10.9%
1M-1.4%
3M-15.4%
YTD-27.4%
1Y-61.7%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 7 analysts
Buy
A dying video-collaboration shell repackaged as a Bittensor/TAO crypto-treasury bet — burning cash, hugely diluted, thesis rests on a volatile token.
Revenue $2.44M · FY2025
TWAV is no longer an operating software company in any meaningful sense; it is a micro-cap ($4.76M) shell pivoting into a 'digital asset treasury company dedicated exclusively to Bittensor.' The legacy business is in terminal decline — revenue has fallen from $7.74M (FY2021) to $2.44M (FY2025), and management announced end-of-life for the flagship Mezzanine product in December 2025, ending sales after Q1 2026. R&D collapsed to $10K (-93.5%), confirming there is no product left to invest in. What remains is a loss engine: FY2025 net income -$6.36M (net margin -260.8%), operating margin -121.5%, ROE -90.4%, and a staggering -$239M accumulated deficit.
The entire forward case now hinges on 24,665 TAO tokens (the company spent $8.736M in 2025 to acquire 24,128 of them), fully staked for yield. That converts TWAV from a business into a leveraged, single-token crypto proxy — and the company's own Risk Factors are unusually candid: TAO is 'highly volatile,' pays no interest, and conversions may occur 'at a value substantially below the purchase price.' Worse, there is genuine existential regulatory risk: if TAO is deemed a security, the company could be forced to register under the Investment Company Act or as a money transmitter, with management explicitly warning it may 'be forced to dissolve or liquidate certain operations.' This is unknowable, uninsurable risk.
Is TWAV a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 1.5 @ ~0.29 est
- Short put 1.5 @ ~0.29 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $7.74M | $5.48M | $3.81M | $2.38M | $2.44M |
| Gross profit | $2.72M | $1.55M | $911K | $331K | $1.01M |
| Operating income | -$11.8M | -$22.0M | -$4.50M | -$4.20M | -$2.96M |
| Net income | -$9.05M | -$21.9M | -$4.38M | -$4.04M | -$6.36M |
| Diluted EPS | -$5.48 | -$10.62 | -$0.98 | — | — |
| Net margin | -117.0% | -400.7% | -115.1% | -170.0% | -260.8% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$2.68M
EV / EBITDA—
EV / Sales1.1
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-128.6%
FCF yield-61.0%
Quality & risk
ROIC (est.)-33.3%
Free cash flow-$3.02M
Total debt$0.00
Net cash$2.26M
Altman Z-Score-38.01 distress
Piotroski F-Score4/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+188.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Other event2026-06-17
Item 8.01 other-events disclosure with exhibits; likely a TAO treasury update
- 8-K Material agreement2026-06-03
New material pact + unregistered stock sale: dilutive raise, likely to buy more TAO
- 8-K Earnings results2026-05-18
Q1'26 results released (Item 2.02); deep operating losses persist as pivot ramps
- 10-Q Quarterly report2026-05-15
Q1'26: first full quarter as a Bittensor TAO treasury; Mezzanine being wound down
- S-3 Shelf registration (potential raise)2026-04-02
- 10-K Annual report2026-03-20
FY25 pivot to Bittensor treasury; $8.7M into 24,128 TAO; net loss widened to -$6.36M
- 8-K Shareholder vote2025-12-19
Annual-meeting voting results disclosed; routine governance, no financial impact
- 8-K Reg FD disclosure2025-12-11
Reg FD/other-events update; likely Mezzanine end-of-life or TAO treasury news
- 8-K Charter / bylaws change2025-12-08
Charter amendment; likely name change/reverse split tied to the Bittensor pivot
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-172026-06-17open ↗8-KPeriod ending 2026-05-282026-06-03open ↗8-KPeriod ending 2026-05-182026-05-18open ↗10-QPeriod ending 2026-03-312026-05-15open ↗EFFECTFiling2026-04-10open ↗CORRESPFiling2026-04-08open ↗UPLOADFiling2026-04-07open ↗S-3Filing2026-04-02open ↗10-KPeriod ending 2025-12-312026-03-20open ↗8-KPeriod ending 2025-12-172025-12-19open ↗8-KPeriod ending 2025-12-102025-12-11open ↗8-KPeriod ending 2025-12-022025-12-08open ↗
Frequently asked
- Is TaoWeave, Inc. (TWAV) a buy?
- TWAV currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. A dying video-collaboration shell repackaged as a Bittensor/TAO crypto-treasury bet — burning cash, hugely diluted, thesis rests on a volatile token.
- What is TaoWeave, Inc.'s quality score?
- TWAV scores 46.640174833784776/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000746210, latest 10-Q filed 2026-05-15) · EODHD · Proprietary analysis · as of 7/4/2026, 10:06:34 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 6:06 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.