Strive Inc. Variable Rate Series A Perpetual Preferred Stock (SATA)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a business with a durable competitive advantage, honest accounting, and a margin of safety. Strive is a young asset manager founded in 2022, with 28 employees, serving ETFs and investment companies. The revenue base is tiny. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $2.9 million and net income was negative $257.6 million. In fiscal Q1 2026, revenue was $2.8 million and net income was negative $265.9 million. In fiscal Q4 2025, revenue was $1.5 million and net loss was $393.6 million. For FY2024, revenue was $3.6 million and net loss was $21.6 million. Revenue growth of 94.64% sounds impressive, but losses dwarf sales, and trailing free cash flow is negative $69.0 million, a FCF yield of negative 0.9% per FairStock. FairStock calculations show ROE of negative 137.06%, ROCE of negative 72.12%, a Piotroski F-Score of 3/9, and P/B of 12.54 at the $98.79 close on 2026-10-13. The preferred stock yields 13.15%, but that yield is not covered by earnings. Beta is 13.24, so price volatility is extreme. The 52-week range is $79.01 to $101.35; the shares sit near the high. Altman Z-Score of 155.16 and D/E of 0.00 suggest no debt, but no leverage does not fix negative earnings. FairStock score is 39/100 and its Lynch category is TURNAROUND, based on loss in the latest year after earlier profits. I would need evidence of sustainable profits before treating the preferred dividend as safe. Price without earnings power is speculation, not value.

In plain English: Strive is a small asset manager that runs ETFs and investment advisory services. It is losing large amounts of money: in fiscal Q2 2026, it earned $2.9 million of revenue but had a net loss of $257.6 million. The preferred shares pay a high dividend, but the business looks weak and the price does not look cheap compared with its accounting value, so the dividend looks risky rather than safe.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-09-11) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31) · FY2022 10-K (period ended 2022-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer