Darkiris
DKINASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $1.43 Prior regular-session close from the quote source.
- $1.42–$1.59 Regular-session low and high so far today.
- 187.5K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $1.33–$456.50 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own DKI if it becomes repeatable, higher-margin packaged software revenue rather than custom work that consumes gross profit and public-company overhead.
DKI price history
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Investment thesis
What must happen next
DarkIris’s growth engine is real only if its prepackaged-software offering keeps converting customers through repeatable distribution rather than one-off projects.StrengtheningMateriality: High
GAAP annual revenue increased from $3.95 million in FY2023 to $7.92 million in FY2024 and $10.08 million in FY2025. If demand is repeatable, revenue growth can eventually compound through a small software platform; if it is project-based, growth will be less durable and less valuable.
Watch: Customer wins are disclosed as bespoke implementations with limited renewal, upsell, or repeat-purchase characteristics.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $3.95 million in FY2023 to $7.92 million in FY2024 and $10.08 million in FY2025.
Open source ↗DarkIris must prove its product can be delivered with software-like unit economics; if revenue growth requires costly customization, hosting, or support, scale will destroy value rather than create it.WeakeningMateriality: High
GAAP annual gross profit was positive in each reported year: $2.40 million in FY2023, $3.01 million in FY2024, and $2.50 million in FY2025. Gross-profit quality determines whether growth can turn into operating leverage or merely add low-margin activity.
Watch: New contracts require substantial bespoke engineering, implementation, or customer-support work before the software can be deployed.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit was positive in each reported year: $2.40 million in FY2023, $3.01 million in FY2024, and $2.50.
Open source ↗Management’s FY2025 spending must represent a buildout that creates future revenue capacity, not a permanently oversized cost base for a micro-cap foreign private issuer.WeakeningMateriality: Medium
GAAP annual operating income was positive at $1.16 million in FY2024, showing the company has previously operated profitably. If the cost base scales, equity value can compound; if it is structurally too high, even revenue growth may not accrue to shareholders.
Watch: Public-company, listing, compliance, and administrative costs remain elevated rather than normalizing after the Nasdaq transition.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income was positive at $1.16 million in FY2024, showing the company has previously operated profitably.
Open source ↗DarkIris’s repaired balance sheet gives it time to test product-market fit and distribution, but only if cash use stays manageable and growth is not funded through repeated dilution.StrengtheningMateriality: Medium
GAAP stockholders’ equity improved from negative $2.85 million at FY2023 year-end to $0.93 million at FY2024 year-end and $6.78 million at FY2025 year-end. Runway determines whether shareholders own the upside from a turnaround or are diluted before the model is proven.
Watch: The company raises equity at depressed prices to fund operating losses or listing-related costs.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP stockholders’ equity improved from negative $2.85 million at FY2023 year-end to $0.93 million at FY2024 year-end and $6.78 million.
Open source ↗
Full investment case & evidence
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Original research
DarkIris’s growth engine is real only if its prepackaged-software offering keeps converting customers through repeatable distribution rather than one-off projects. If demand is repeatable, revenue growth can eventually compound through a small software platform; if it is project-based, growth will be less durable and less valuable.
DarkIris must prove its product can be delivered with software-like unit economics; if revenue growth requires costly customization, hosting, or support, scale will destroy value rather than create it. Gross-profit quality determines whether growth can turn into operating leverage or merely add low-margin activity.
Management’s FY2025 spending must represent a buildout that creates future revenue capacity, not a permanently oversized cost base for a micro-cap foreign private issuer. If the cost base scales, equity value can compound; if it is structurally too high, even revenue growth may not accrue to shareholders.
DarkIris’s repaired balance sheet gives it time to test product-market fit and distribution, but only if cash use stays manageable and growth is not funded through repeated dilution. Runway determines whether shareholders own the upside from a turnaround or are diluted before the model is proven.
All standing thesis claims
Original report summary
it becomes repeatable, higher-margin packaged software revenue rather than custom work that consumes gross profit and public-company overhead.
Bull case and bear case
Bull case and bear case for DarkIris
Where the evidence on DarkIris disagrees: Mixed on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 2 strengthening and 2 weakening.
Bull case: what the evidence supports
DarkIris’s growth engine is real only if its prepackaged-software offering keeps converting customers through repeatable distribution rather than one-off projects.
DarkIris’s repaired balance sheet gives it time to test product-market fit and distribution, but only if cash use stays manageable and growth is not funded through repeated dilution.
Bear case: what the evidence questions
DarkIris must prove its product can be delivered with software-like unit economics; if revenue growth requires costly customization, hosting, or support, scale will destroy value rather than create it.
Management’s FY2025 spending must represent a buildout that creates future revenue capacity, not a permanently oversized cost base for a micro-cap foreign private issuer.
Thesis-Break Engine
Thesis-break watch · DarkIris
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedForeign issuer material report (6-K).
DarkIris filed an SEC report on 2026-10-09: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
DarkIris filed an SEC report on 2026-10-06: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
DarkIris filed an SEC report on 2026-09-30: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Customer wins are disclosed as bespoke implementations with limited renewal, upsell, or repeat-purchase characteristics.
- New contracts require substantial bespoke engineering, implementation, or customer-support work before the software can be deployed.
- Public-company, listing, compliance, and administrative costs remain elevated rather than normalizing after the Nasdaq transition.
- The company raises equity at depressed prices to fund operating losses or listing-related costs.
DKI news
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Financial statements
DKI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
DKI: quick answers
- What is DKI's short interest?
- As of October 30, 2026, 153,271 DKI shares were sold short, down 91.1% from the count before. At the stock's average daily volume that is 1.0 day to cover. FINRA publishes the count twice a month. DKI short interest history