Sphere 3d's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Sphere 3d (ANY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Sphere 3d vs Its Competitors
- TTM: Trailing 12-month revenue of 10M vs 3M combined for tracked competitors (77.7% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (+1.0% annualized vs trailing 12 months), vs accelerating (+85.0%) for its tracked peer group.
- Growth: Sphere 3d generated -18.8% revenue growth year over year in Q2 2026, vs 154.5% for its tracked competitors combined.
- Profitability: Its -564.0% net margin compares with 33.8% for the peer group.
- Scale: Sphere 3d ranks #92 of 117 companies by market capitalization in the Miscellaneous Financial Services industry, holding 0.0% of industry market cap.
- Peer revenue share: Sphere 3d accounted for 65.5% of combined revenue among its tracked peer group, down from 85.6% a year earlier.
- Peer differentiation: Revenue per employee of $2.43M compares with $1.39M for the peer group (1.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ANY Sales vs. its Competitors, Q2 2026
Sphere 3d reported revenue contraction of 18.75 % year on year in Q2 2026, below its competitors' combined revenue growth of 154.50 %.
With a net margin of -563.99 %, Sphere 3d reported lower profitability than its competitors (33.77 %).
Sphere 3d generated 65.53 % of the combined sales of its peer group, down from 85.62 % a year earlier.
Sphere 3d vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Sphere 3d and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Sphere 3d Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Sphere 3d's competitor groups requires a Commercial License.
For context: the Miscellaneous Financial Services industry grew revenue 293.3% year over year, combined, vs -18.8% for Sphere 3d. Sphere 3d's share of combined industry revenue moved from 0.00% to 0.00%, a gain of 0.00 percentage points.
Sphere 3d's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Sphere 3d Corp | - | No | No | Yes |
| Competitors combined (1) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 0.00 % (0 of 8) | 75.00 % (6 of 8) | 50.00 % (4 of 8) | 42.90 % (3 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ANY Stock Performance relative to its Competitors
ANY Stock Performance relative to High-Confidence Competitors
ANY Stock Performance relative to Similar-Size Competitors
ANY Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Power Reit | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Sphere 3d's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Sphere 3d's Comment on Competition and Industry Peers
Publicly Traded Peers of Sphere 3d Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Sphere 3d Corp | 15.96 | 9.71 |
| Power Reit | 2.53 | 2.79 |
| SUBTOTAL | 18.50 | 12.50 |
Sources: Sphere 3d Corp's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Sphere 3d Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Sphere 3d's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Soluna Holdings Inc | Named by the company | 85% |
| Power Reit | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Sphere 3d's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Sphere 3d's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Sphere 3d Corp | 16 | 2,428,500 | -2,367,500 |
| Power Reit | 3 | 1,394,696 | -780,303 |
| PEERS TOTAL | 3 | 1,394,696 | -780,303 |
Sphere 3d's Position in Industry Market Structure
Market-capitalization share and concentration across all 103 companies in Sphere 3d's industry classification, broader than the peer set above. Market cap in millions of $.Sphere 3d ranks #92 of 103 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,294, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | American Express Company | 207,244 | 31.55 % |
| 2 | Nu Holdings Ltd | 61,219 | 9.32 % |
| 3 | Coinbase Global Inc | 51,945 | 7.91 % |
| 4 | Eason Technology Limited | 38,113 | 5.80 % |
| 5 | Strategy Inc | 1,234 | 5.2% |
| 6 | Federal National Mortgage Association Fannie Mae | 1,234 | 5.2% |
| 7 | Synchrony Financial | 1,234 | 5.2% |
| 8 | Circle Internet Group Inc | 1,234 | 5.2% |
| 9 | Sofi Technologies Inc | 1,234 | 5.2% |
| 10 | Bitmine Immersion Technologies Inc | 1,234 | 5.2% |
| 92 | Sphere 3d Corp | 16 | 0.00 % |
Market cap and industry share for the rest of Sphere 3d's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-25.
Sphere 3d's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 87 | Orion Digital Corp | 24 | -45.05 % |
| 88 | Atlasclear Holdings Inc | 23 | -78.05 % |
| 89 | Nft Limited | 21 | -99.30 % |
| 90 | Binah Capital Group inc | 19 | -32.93 % |
| 91 | Strategic Acquisitions Inc | 1,234 | 12.3% |
| 92 | Sphere 3d Corp | 16 | - |
| 93 | Mdb Capital Holdings Llc | 1,234 | 12.3% |
| 94 | Dave Inc | 1,234 | 12.3% |
| 95 | Netcapital Inc | 1,234 | 12.3% |
| 96 | Magic Empire Global Limited | 1,234 | 12.3% |
| 97 | Abits Group Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Sphere 3d's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Sphere 3d's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Financial Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (80 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 20.64 % | 53.42 % (avg) | -32.8 pp |
| Operating Margin | -330.82 % | industry median | -316.3 pp |
| EBITDA Margin | -233.34 % | 2.15 % (avg) | -235.5 pp |
| Capital Intensity (Capex / Revenue) | - | 4.86 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Sphere 3d's Valuation vs Competitive Position
Valuation multiples vs the Miscellaneous Financial Services industry average (80 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 18.8x | - |
| EV / EBITDA | - | 15.3x | - |
| P/B | 0.6x | 3.1x | -2.5x |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | -69.44 % | 0.51 % (avg) | -69.95 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Sphere 3d's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | -38.22 % | 333.63 % | -23.27 % | - | - | -24.19 % | -32.68 % |
| Operating Margin | -107.98 % | -123.04 % | -530.05 % | - | -136.94 % | -128.92 % | -196.75 % |
| Return on Invested Capital | 195.47 % | -57.55 % | -3.65 % | - | -45.93 % | -28.35 % | -37.26 % |
| P/E | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Sphere 3d's Strategic Group Map
Every company in Sphere 3d's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Sphere 3d is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Sphere 3d's BCG Growth-Share Matrix
Relative market share (vs Sphere 3d's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Sphere 3d falls in the Dog quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 3.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Sphere 3d's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,294 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Sphere 3d's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Sphere 3d's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Sphere 3d's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Sphere 3d falls in the Low attractiveness / Low strength cell: Harvest / Divest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Sphere 3d's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 316.3 points below the industry median.
- Low relative market share vs the industry leader (0.00x).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Sphere 3d's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Sphere 3d Corp | 1.69 | 4.08 | - |
| Power Reit | 1.98 | 1.98 | 3.96 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Sphere 3d's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Sphere 3d Corp | Q2 2026 | -18.8 % | - |
| Power Reit | Q2 2026 | +154.5 % | +35.7 % |
| PEERS TOTAL | +6.2 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Sphere 3d's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Sphere 3d Corp | Q2 2026 | -0.6 % | - |
| Power Reit | Q2 2026 | - | - |
Sphere 3d's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Sphere 3d Corp | - | - | - |
| Power Reit | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Sphere 3d's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Sphere 3d Corp | - | 1.64 |
| Power Reit | - | 0.91 |
| PEERS AVERAGE | - | 1.48 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.