olivLaw · US equity research
VenHub Global, Inc. VHUB
Misc Industrial & Commercial Machinery & Equipment · SIC 3590 · Vertical: Misc Industrial & Commercial Machinery & Equipment (SIC 3590)
VenHub Global, Inc. develops fully autonomous convenience stores run by robots and managed with artificial intelligence, which it sells or operates under owner-operator arrangements. The company was listed on Nasdaq at the end of January 2026, but it describes its revenue as still very limited, and its auditors have expressed substantial doubt about its going concern status.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, VenHub Global, Inc. (VHUB) stock was 0.23 USD (−2.21% on the day), with market capitalisation 21.4 m USD, beta 1.46, 52-week range 0.23–8.08 USD. Latest reported quarter (Q2 2026): revenue of 86.6 k USD (+536.2% YoY), net income of -10.5 m USD, diluted EPS -0.12 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 24.1
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.20 – 0.45
- in the lower half of the band · %B 0.14 · band width 78.2%
- SMA 50 / 200
- 0.54 / unavailable
- MACD (12, 26, 9)
- -0.08 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −45.4% | −1.1% | −44.3 pp | — |
| 3 months | −66.0% | −0.5% | −65.5 pp | — |
| 6 months | −72.7% | +4.4% | −77.1 pp | — |
| Year to date | unavailable | +12.3% | unavailable | — |
| 1 year | unavailable | +13.5% | unavailable | −48.1% |
| 3 years | unavailable | +76.4% | unavailable | +54.6% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | 500.0 k | 13.6 k | 295.4 k | 55.5 k | 67.8 k | 86.6 k |
| Cost of revenue | — | — | 323.4 k | 6.8 k | 219.9 k | 33.6 k | 64.1 k | 299.2 k |
| Gross profit | — | — | 176.6 k | 6.8 k | 75.4 k | 21.9 k | 3.7 k | -212.6 k |
| Research & development | 286.1 k | 260.1 k | 301.4 k | 131.0 k | 93.4 k | 689.3 k | 88.7 k | 182.6 k |
| Operating income | -2.1 m | -1.4 m | -9.2 m | -1.9 m | -19.2 m | -9.0 m | -4.5 m | -10.2 m |
| Depreciation & amortisation | — | 13.6 k | 11.3 k | 16.6 k ≈ | 36.7 k ≈ | 40.0 k | 68.8 k | 73.6 k ≈ |
| Interest expense | 60.0 k | 105.9 k | 108.0 k | 120.0 k | 167.9 k | 167.1 k | 11.2 m | 578.1 k |
| Net income | -2.2 m | -1.7 m | -9.3 m | -20.5 m | -19.3 m | -13.2 m | -16.6 m | -10.5 m |
| Diluted EPS | -0.08 | -0.06 ≈ | -0.34 | -0.73 | -0.54 | -0.24 ≈ | -0.20 | -0.12 |
| Operating cash flow | — | -1.6 m | -1.4 m | -198.7 k ≈ | -2.8 m ≈ | -1.5 m | -7.5 m | -3.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | unavailable | 864.5 k |
| Revenue YoY | unavailable | unavailable |
| Net income | -9.4 m | -62.4 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -0.36 | -1.67 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | unavailable | -7,218.4% |
| Free cash flow | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 89.6 k USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- -10.3 m USD
- Total assets
- 3.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.13x
- ROE
- unavailable
- ROA
- -1,976.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | — | 864.5 k | SEC (XBRL)· 24 Mar 2026verified |
| Cost of revenue | — | 583.8 k | SEC (XBRL)· 24 Mar 2026verified |
| Gross profit | — | 280.7 k | SEC (XBRL)· 24 Mar 2026verified |
| Research & development | 876.0 k | 1.2 m | SEC (XBRL)· 24 Mar 2026verified |
| Operating income | -9.0 m | -39.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Depreciation & amortisation | 48.3 k | 104.6 k | SEC (XBRL)· 24 Mar 2026verified |
| EBITDA | -9.0 m ≈ | -39.3 m ≈ | SEC (XBRL)· 24 Mar 2026derived |
| Interest expense | 165.9 k | 563.1 k | SEC (XBRL)· 24 Mar 2026verified |
| Net income | -9.4 m | -62.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Diluted EPS | -0.36 | -1.67 | SEC (XBRL)· 24 Mar 2026verified |
| Weighted average diluted shares | 26.0 m | 37.3 m | SEC (XBRL)· 24 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 0 | 89.6 k | SEC (XBRL)· 12 May 2026verified |
| Inventories | 900.5 k | 1.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Current assets | 2.4 m | 1.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Property, plant & equipment, net | 109.7 k | 1.3 m | SEC (XBRL)· 24 Mar 2026verified |
| Total assets | 2.7 m | 3.6 m | SEC (XBRL)· 24 Mar 2026verified |
| Accounts payable | 491.9 k | 716.3 k | SEC (XBRL)· 24 Mar 2026verified |
| Current liabilities | 6.1 m | 10.6 m | SEC (XBRL)· 24 Mar 2026verified |
| Total liabilities | 6.4 m | 13.9 m | SEC (XBRL)· 24 Mar 2026verified |
| Equity | -3.7 m † | -10.3 m † | SEC (XBRL)· 24 Mar 2026verified |
| Shares outstanding at year end | — | 74.9 m | SEC (XBRL)· 15 Dec 2025verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | -4.0 m | -5.9 m | SEC (XBRL)· 24 Mar 2026verified |
| Investing cash flow | — | -1.3 m | SEC (XBRL)· 24 Mar 2026verified |
| Financing cash flow | 5.3 m | 5.9 m | SEC (XBRL)· 24 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 21.4 m USD
Key indicators
Coverage and freshness
Score by group
17% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -11,799.2% | 13 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -3.5x | 0 (on a fixed band) | 38% |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 25% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial13/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
VENHUB GLOBAL, INC. (VHUB). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 864.5 k USD in 2025; net margin -11,799.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -11,799.2%
- Interest coverage: -3.5x
- Current ratio: 0.8x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Misc Industrial & Commercial Machinery & Equipment (SIC 3590) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ETNEATON CORPORATION plc | 137.2 bn | 35.3 | 19.6% | 12.2% | +10.3% | +2% / +55% |
| CWCurtiss-Wright Corporation | 16.7 bn | 31.1 | 19.7% | 14.8% | +12.1% | −20% / +111% |
| EPACEnerpac Tool Group Corp. | 2.2 bn | 24.5 | 20.2% | 13.8% | +5.7% | +11% / +55% |
| ZOOZZOOZ Strategy Ltd. | 972.0 m | — | -88.3% | -22,505.7% | −76.3% | −49% / unavailable |
| VHUBVenhub Global, Inc. | 21.4 m | — | — | -11,799.2% | unavailable | unavailable / unavailable |
| LIQTLiqtech International, Inc. | 10.4 m | — | -48.9% | -63.2% | +13.0% | −83% / −91% |
| SMXSMX (Security Matters) Public Limited Company | 2.1 m | — | -2,287.2% | — | unavailable | −100% / −100% |
| HTOOFusion Fuel Green PLC | — | — | -204.5% | -855.5% | −61.3% | −53% / −97% |
| MOG-AMOOG Inc. | — | 27.7 | 18.2% | 8.7% | +7.0% | +42% / +133% |
| SHMDSCHMID Group N.V. | — | — | — | -138.3% | −32.6% | −47% / unavailable |
| RAINRain Enhancement Technologies Holdco, Inc. | — | — | — | — | unavailable | −89% / unavailable |
1- and 3-year price returns: for VHUB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Mar 2026; since then the company filed 10-Q (12 Aug 2026), 10-Q (12 May 2026).
In brief
VenHub Global, Inc. develops fully autonomous convenience stores run by robots and managed with artificial intelligence, which it sells or operates under owner-operator arrangements. The company was listed on Nasdaq at the end of January 2026, but it describes its revenue as still very limited, and its auditors have expressed substantial doubt about its going concern status 1.
SWOT
Strengths
- The company has an integrated hardware and software model, with modular stores that operate without staff, a patent portfolio in progress and operating experience at a limited number of locations.
- The high-security store design, including bulletproof glass and continuous monitoring, could reduce losses from theft, according to the company's own argument.
- The large pre-order list indicates interest from potential owners, although the rate at which these convert into sales is not known.
Weaknesses
- Revenue is still limited, the company has incurred net losses, and the filing does not foresee profitability in the near term.
- Auditors have expressed substantial doubt about going concern, and working capital is negative.
- Many SaaS and personalization functions are still in development or conceptual, and most stores do not have software activated.
Opportunities
- Activating SaaS services after the waiver period could create recurring revenue, if customers pay the subscriptions.
- Expansion into mobile or retrofit formats could open new markets, if development of these variants is completed.
- Partnerships with large retailers, mentioned as a conceptual option, could accelerate scaling if they are concluded.
Threats
- Competition from larger and better-funded companies could reduce the company's market share.
- Dependence on components from a few vendors and on global chains exposed to tariffs and trade restrictions can affect costs and timing.
- A weaker economy or high interest rates could reduce customers' budgets and their access to financing for store purchases.
Risks
- Going concernhigh
Auditors have issued an opinion with a going concern reference, meaning there is substantial doubt whether the company can continue its operations over the next twelve months, and investors could lose part or all of their investment.
- Lack of profitabilityhigh
The company has incurred losses and cannot assure that it will ever reach profitability, which could limit its access to capital.
- Conversion of pre-ordersmedium
Pre-orders are not a reliable indicator of future sales, and revenue could fluctuate significantly from one period to the next.
- Dependence on supplymedium
Disruptions at suppliers of electronic components and robotics could delay the production and installation of stores.
- Delivery of promised featureslow
Many features described in the filing are in development or conceptual, and their timetable could be postponed or abandoned.
Investment thesis
What would need to be true (bull case)
- If the staff-free model proves efficient for store owners and pre-orders turn into deliveries, the company could build a recurring revenue base from software and services.
- The stock market listing and the patent portfolio could support access to financing and partnerships, if operating results improve.
- Early experience with the stores at the airport and at Union Station could provide useful data to demonstrate demand in high-traffic locations.
What would break the thesis
- The company still has modest revenue, losses and negative working capital, and the going concern doubt could force shareholder dilution or a reduction in activity.
- The software services that could generate recurring revenue are not activated, and the SaaS fee waiver postpones any income from this source.
- Competition from companies with far greater resources could limit the company's ability to expand its market share.
What to watch
- Trend in store sales revenue and the conversion of pre-orders into deliveriesnext 10-K
- Activation of SaaS functions and the start of subscription billing after the waiver period2026
- Update on the going concern doubt and the financing sources obtainedQ1 2027
- Number of stores installed and progress in expanding to new formats2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Mar 2026; since then the company filed 10-Q (12 Aug 2026), 10-Q (12 May 2026).
The business
VenHub Global, Inc. (formerly Autonomous Solutions, Inc.) was incorporated in Wyoming in 2023 and operates under the VenHub brand an autonomous store concept, functioning 24 hours a day, in which robots pick, bag and deliver products ordered through a mobile app 1. At the reporting date the company was in an initial launch phase, with five stores deployed, two of them owned directly by the company, at Los Angeles Airport (LAX) and Union Station in Los Angeles 1. The revenue model combines the sale of store hardware with software subscriptions (SaaS) and maintenance services, but for 2025 no SaaS revenue was recognized because the company granted an introductory waiver of up to twelve months 1.
Segments
Smart Store sales
Revenue reported for 2025 comes mainly from the sale of Smart Store units to customers, recognized on delivery, along with product sales from company-owned stores 1. The company had over 1,400 pre-orders as of December 31, 2025, but the filing notes that there is not yet enough delivery experience to estimate what share of them will convert into actual sales 1.
Software and SaaS services
The subsidiary VenHub Services, LLC provides software as a service and maintenance for stores, but at the reporting date no SaaS function was activated for customers or operators 1. If these services are activated and paid after the waiver period, they could become a recurring component of revenue, though this remains conditional on execution of the commercial plan 1.
Intellectual property and operations
The subsidiary VenHub IP, LLC manages the patent portfolio, and the company reports 25 patent applications as of December 31, 2025, of which 19 are provisional 1. The subsidiary VenHub, LLC handles assembly, installation and production, supported by an assembly facility in Las Vegas 1.
Market context
The company positions itself in autonomous retail and smart vending, a segment the filing describes as evolving rapidly, with new entrants and cashierless technologies 1. The filing provides no quantitative estimate of market size, so the assessment of potential depends on how quickly convenience store owners adopt the model without employees 1.
Trends
- Labor coststailwind
The company argues that removing the need for staff to operate the store may reduce labor costs, which have historically risen, and presents this as a central argument for store owners 1.
- Interest rates and investment financingheadwind
The filing notes that higher interest rates have reduced investment in hardware start-ups and customers' ability to finance product purchases, which could slow sales 1.
- Electronic component supply chainsheadwind
Robots and sensors depend on components supplied by a limited number of vendors, many manufactured overseas, and volatility in global chains could delay production 1.
- Artificial intelligence in operationsmixed
Current AI systems are used mainly for product verification, robotic navigation and predictive maintenance, while personalization features are still in testing, so their commercial benefit remains uncertain 1.
Competitive position
The filing names Amazon Go, AiFi and Zippin as competitors in cashierless retail and smart vending, noting that other potential entrants also exist 1. The company says it differentiates itself through a modular store platform with robotic picking arms and access for independent operators to autonomous retail infrastructure 1.
- Amazon GoAMZN
Competitor named in the filing in cashierless retail and automated purchasing technology.
- AiFi
Provider of cashierless retail technology, named in the filing among segment competitors.
- Zippin
Company named in the filing for innovation in autonomous retail and vending.
- Other emerging participants
The filing states that other entrants may appear in this rapidly changing market.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report19 Oct 2026Material agreement · Financial statements and exhibits
- Current report02 Sept 2026Material agreement · Delisting notice · Item 3.02 · Financial statements and exhibits
- Quarterly report12 Aug 2026
- Current report29 Jul 2026Amendments to articles or bylaws · Financial statements and exhibits
- Current report09 Jun 2026Item 3.02
- Current report21 May 2026Other events
- Quarterly report12 May 2026
- Current report05 May 2026Delisting notice
- Annual report24 Mar 2026
- Current report24 Feb 2026Other events
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / VenHub Global, Inc. · 24 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.