your badges 52W Range $3–$9 19% of range Analyst Rating BUY 9 analysts Price Target $11 +141% upside P/E -6.0 ROE -198.2% Net Profit Margin -500.0%

SPAI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $4.42
Market Cap (MRQ) $90M
P/E (TTM) -6.0
EPS (TTM) $-0.74
Revenue (TTM) $3M
ROE (TTM) -198.2%
52W Range $3–$9

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10-Year Performance Revenue, net income, margins and EPS trends

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Revenue$606.7K
2023-12-31 → 2025-12-31
EPS$-0.85
2023-12-31 → 2025-12-31
Free Cash Flow·
2024-12-31 → 2024-12-31
Net margin-500.0%
2024-12-31 → 2024-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend SPAI 5Y avg Peer Median Verdict
P/E (TTM) -6.0 · · ·
P/S (TTM) 31.2 · 2.2 Overvalued
P/B (MRQ) 7.5 · 3.2 Overvalued
Price / FCF (TTM) -10.6 · · ·
Price / Cash Flow (TTM) -10.8 · · ·
Price / Tangible Book (MRQ) 8.0 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise -41.0%
Next Report Nov 12, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 14, 2026 $-0.15 $-0.14 -5.0%
March 31, 2026 May 15, 2026 $-0.14 $-0.12 -14.4%
Dec. 31, 2025 $-0.16 $-0.12 -30.7%
Sept. 30, 2025 $-0.24 $-0.11 -113.9%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 15
Metric Trend 202520242023
Revenue $606.7K$2M$917.7K
Cost of Revenue $404.5K$1M$606.6K
Gross Profit $202.2K$906.1K$311.1K
R&D Expense $394.2K$90.4K$373.7K
SG&A Expense $2M$1M$449.9K
Operating Expenses $15M$8M$7M
Operating Income $-15M$-7M$-6M
Interest Income $178.5K$30.1K$508
Other Non-op $222.8K$-276.5K$-7.7K
Net Income $-14M$-7M$-6M
EPS (Basic) $-0.85$-0.70$-0.79
EPS (Diluted) $-0.85$-0.70$-0.79
Shares (Basic) 16,906,72410,613,2707,984,743
Shares (Diluted) 16,906,72410,613,2707,984,743
EBITDA ·$-7M·
Balance Sheet 24
Metric Trend 202520242023
Cash & Equivalents $17M$2M$703.4K
Receivables $100.0K$123.7K$163.3K
Inventory $615.0K$342.1K$359.2K
Prepaid Expense $420.3K$313.7K$48.1K
Current Assets $18M$3M$1M
PP&E (Net) $283.1K$314.9K$320.9K
PP&E (Gross) $521.6K$472.8K$409.0K
Accum. Depreciation $238.5K$157.9K$88.0K
Goodwill ·$684.9K$684.9K
Intangibles $834.5K$1M$987.3K
Total Assets $19M$5M$3M
Accounts Payable $461.3K$119.8K$169.1K
Accrued Liabilities $278.1K$90.3K$141.7K
Current Liabilities $1M$893.9K$1M
Capital Leases $947$35.6K$91.1K
Total Liabilities $1M$1M$2M
Long-term Debt $146.0K$146.0K·
Common Stock $2.1K$1.5K$873
Paid-in Capital $47M$18M$9M
Retained Earnings $-29M$-14M$-7M
Treasury Stock $676.0K··
Stockholders' Equity $18M$4M$2M
Liabilities + Equity $19M$5M$3M
Shares Outstanding 20,736,81614,534,6858,734,770
Cash Flow 11
Metric Trend 202520242023
D&A $381.3K$341.1K$239.0K
Amort. of Intangibles $300.7K$271.2K$180.9K
Other Non-cash ·$3M·
Operating Cash Flow $-6M$-4M$-2M
CapEx $48.8K$63.8K$30.2K
Investing Cash Flow $-241.4K$-436.4K$-30.2K
Stock Issued $13M$4M·
Net Stock Activity ·$4M·
Financing Cash Flow $21M$6M$985.2K
Net Change in Cash $15M$1M$-1M
Free Cash Flow ·$-4M·
Profitability 6
Metric Trend 202520242023
Gross Margin ·41.8%·
Operating Margin ·-329.7%·
Net Margin ·-342.5%·
EBITDA Margin ·-314.0%·
ROA ·-177.3%·
ROE ·-183.2%·
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio ·3.1·
Quick Ratio ·2.3·
Efficiency 3
Metric Trend 202520242023
Asset Turnover ·0.5·
Inventory Turnover ·3.6·
Receivables Turnover ·15.1·
Per Share 5
Metric Trend 202520242023
Book Value / Share ·$0.27·
Revenue / Share ·$0.20·
Cash Flow / Share ·$-0.39·
Cash / Share ·$0.14·
EPS (TTM) $-0.85$-0.70·
Growth Rates 1
Metric Trend 202520242023
Revenue YoY -72.0%136.4%·
Valuation (TTM) 10
Metric Trend 202520242023
Revenue TTM $606.7K$2M·
Net Income TTM $-14M$-7M·
Market Cap ·$56M·
P/E -4.9-5.5·
P/S ·25.7·
P/B ·14.4·
P / Tangible Book 5.126.5·
P / Cash Flow ·-13.6·
P / FCF ·-13.4·
Earnings Yield -20.4%-18.3%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-31
Revenue $606.7K $2M $917.7K
Gross Margin % · 41.8% ·
Operating Margin % · -329.7% ·
Net Income $-14M $-7M $-6M
Diluted EPS $-0.85 $-0.70 $-0.79

Institutional owners (13F) 29 filers · $9.8M total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 29
Value held $9.8M
New positions 5
Exited positions 7
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
5 (-6 vs prior Q) 7 (+5 vs prior Q) 7 (+2 vs prior Q) 7 (-1 vs prior Q) -614K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD CAPITAL MANAGEMENT LLC $2,441,414 563,837 24.86% Shares
Cresset Asset Management, LLC $1,328,163 306,735 13.52% Shares
VANGUARD GROUP INC $1,325,709 318,680 13.50% Shares
PERKINS CAPITAL MANAGEMENT INC $998,065 230,500 10.16% Shares
GEODE CAPITAL MANAGEMENT, LLC $636,987 147,046 6.49% Shares
JANE STREET GROUP, LLC $604,255 139,551 6.15% Shares
TUDOR INVESTMENT CORP ET AL $560,557 129,459 5.71% Shares
VANGUARD FIDUCIARY TRUST CO $328,760 75,926 3.35% Shares
BlackRock, Inc. $317,207 73,258 3.23% Shares
FOREFRONT WEALTH MANAGEMENT INC. $282,464 67,900 2.88% Shares
STATE STREET CORP $210,503 48,615 2.14% Shares
UBS Group AG $193,499 44,688 1.97% Shares
Atlantic Union Bankshares Corp $129,900 30,000 1.32% Shares
NORTHERN TRUST CORP $118,547 27,378 1.21% Shares
Squarepoint Ops LLC $88,419 20,420 0.90% Shares
DGS Capital Management, LLC $72,390 19,000 0.74% Shares
CITADEL ADVISORS LLC $59,321 13,700 0.60% Call option
Cornerstone Select Advisors, LLC $50,661 11,700 0.52% Shares
Granite Investment Partners, LLC $46,054 10,636 0.47% Shares
ROYAL BANK OF CANADA $13,000 2,990 0.13% Shares
MORGAN STANLEY $12,094 2,793 0.12% Shares
Vanguard Global Advisers, LLC $2,598 600 0.03% Shares
THOMPSON SIEGEL & WALMSLEY LLC $515 118,976 0.01% Shares
SIMPLEX TRADING, LLC $220 51 0.00% Shares
HRT FINANCIAL LP $197 45,536 0.00% Shares
BARCLAYS PLC $126 29 0.00% Shares
GSA CAPITAL PARTNERS LLP $97 22,378 0.00% Shares
Virtu Financial LLC $96 22,233 0.00% Shares
PRICE T ROWE ASSOCIATES INC /MD/ $67 15,400 0.00% Shares

Activists & 5%+ owners 3 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Daniyel Erdberg, DL2 Capital LLC Sept. 11, 2024 · Initial filing Passive investment SEC
Christopher Todd, Christopher Todd, Inc. Sept. 11, 2024 · Initial filing Passive investment SEC
Pravin Borkar, American Protection Works, Inc. Sept. 11, 2024 · Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 8 insiders · 5 officers · 4 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Daniyel Erdberg Chairman and CEO Sept. 9, 2026 S 3,749,058 0 1 $-4,000,000
Theresa Carlise Chief Financial Officer May 27, 2026 A 300,758 0 0 $0
Christopher Michael Todd President Airborne Response Co Sept. 24, 2026 D 695,000 0 0 $0
Jarret Daniel Mathews Chief Operating Officer April 1, 2026 A 32,500 0 0 $0
Brian William Mack Chief Growth Officer May 1, 2026 A 300,000 0 0 $0
Lee Van Arsdale Director May 27, 2026 A 97,812 0 0 $0
Arthur T Dean Director May 27, 2026 A 75,000 0 0 $0
John Edward Miller Director May 27, 2026 A 75,000 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 3 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IWC · iShares Trust 0.01% 43,829 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.00% 146,362 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 400,847 SH Aug. 19, 2026 Daily

SPAI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 9 analysts BUY
Median target $10.00 +126.2%
2 22.2% Strong Buy
6 66.7% Buy
1 11.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

3 analysts · 2026-10-04

Mean target $10.67 +141.3%

← Below all targets Current price $4.42
Low$9.00 Mean$10.67 High$13.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

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FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
SPAI · -4.9 -72.0% · · ·
SIDU · -2.6 -27.6% -871.0% -90.8% -168.2%
MRLN · · · · -62.9% ·
MNTS · · · · · ·
BYRN · 45.6 37.7% · · ·
OPXS $91M 17.7 21.6% 12.4% 22.4% 29.2%
FBDT · · · · · ·

Latest News Recent headlines mentioning this company

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Safe Pro Group Appoints Jarret Mathews As COO Nasdaq · 5 months, 3 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

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Source: SEC 10-Q filed Aug 14, 2026