What are the investment strengths of Iveda Solutions Inc (IVDA)?

Gross margin 22.8% TTM improved (GP +26% YoY) despite revenue decline - unit economics stabilizing if scale returns Working capital 3.9M with low debt 0.77M provides balance sheet flexibility for potential pivot or acquisition

What are the investment risks for Iveda Solutions Inc (IVDA)?

Revenue collapse -31% YoY signals customer loss or market share erosion - 5Y growth story invalidated ROE -65.5%, ROIC -56% TTM destroying equity value - each dollar invested returns $0.44 loss

Iveda Solutions Inc

IVDA

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Iveda Solutions Inc AI Insights

Informational only. Not investment advice.

As of 2026-02-13

Snapshot

Cash burn of -2.7M TTM FCF against 3.3M cash = ~15 months runway without additional equity raises[Free Cash Flow TTM]
Operating margin -48.5% TTM vs industry median +5.1% - burning $0.48 for every $1 revenue[Operating Margin TTM]
Revenue down 31% YoY to 6.4M TTM while 5Y CAGR +43% - growth story has reversed sharply[Total Revenue 1Y Growth]

Watch Triggers

Cash and Equivalents: Falls below 2M or burn rate accelerates — Sub-2M triggers imminent dilution or going concern risk
Total Revenue TTM: Quarterly revenue stabilizes or returns to growth — Revenue inflection is prerequisite for any path to profitability
Operating Expense TTM: Drops below 3.5M (from 4.6M current) — Cost cuts extending runway would signal management discipline

Bull Case

Gross margin 22.8% TTM improved (GP +26% YoY) despite revenue decline - unit economics stabilizing if scale returns

Gross Margin TTMGross Profit 1Y Growth

Working capital 3.9M with low debt 0.77M provides balance sheet flexibility for potential pivot or acquisition

Working CapitalTotal DebtDebt to Equity

Bear Case

Revenue collapse -31% YoY signals customer loss or market share erosion - 5Y growth story invalidated

Total Revenue 1Y GrowthTotal Revenue TTM

ROE -65.5%, ROIC -56% TTM destroying equity value - each dollar invested returns $0.44 loss

ROE TTMROIC TTM

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

Survival depends on equity dilution or revenue turnaround within 12-18 months

3-12mhigh

Cash runway under 15 months at current burn
Already raised 2.5M via stock issuance TTM
No debt capacity with 0.2x D/E already stretched for loss-maker

FCF -2.7M TTM, Cash 3.3MNet stock issuance 2.5M TTMOperating loss -3.1M TTM

Valuation Context

Caveats

Public Strategies Rankings

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IVDA Fundamentals

Administrative and Support and Waste Management and Remediation Services → Administrative and Support Services

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$1.53M		—
Enterprise Value	$-2.92M		—
P/E Ratio	0.00		—
Total Revenue - TTM	$5.28M	-12.3%	—
Earnings Per Share (diluted) - TTM	$-0.88		—
Operating Margin - TTM	-61.1%	+6.5%	—
Net Margin - TTM	-60.6%	+5.6%	—
Free Cash Flow - TTM	$-2.03M		—
Return on Common Equity - TTM	-87.8%	+71.1%	—
Beta 5Y (Monthly)	unknown		—

IVDA Dividend History

No dividends

IVDA Stock Splits

2 stock splits

09/17/248:1 split

04/01/228:1 split

IVDA SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/31/26	12/31/25	Unknown	0001493152-26-014179
11/14/25	09/30/25	10-Q	0001493152-25-022582
08/14/25	06/30/25	10-Q	0001641172-25-023965
05/13/25	03/31/25	10-Q	0001641172-25-009950
04/15/25	12/31/24	10-K	0001641172-25-004833
06/16/25	12/31/24	10-K/A	0001641172-25-015284
11/14/24	09/30/24	10-Q	0001493152-24-045941
08/14/24	06/30/24	10-Q	0001493152-24-032265
05/20/24	03/31/24	10-Q	0001493152-24-020743
06/16/25	12/31/23	10-K/A	0001641172-25-015284
04/01/24	12/31/23	10-K	0001493152-24-012417
11/14/23	09/30/23	10-Q	0001493152-23-040717
08/14/23	06/30/23	10-Q	0001493152-23-028473
05/15/23	03/31/23	10-Q	0001493152-23-017431
03/31/23	12/31/22	10-K	0001493152-23-010283
11/14/22	09/30/22	10-Q	0001493152-22-032055
08/12/22	06/30/22	10-Q	0001493152-22-022399
05/16/22	03/31/22	10-Q	0001493152-22-013530
03/31/22	12/31/21	10-K	0001493152-22-008309
11/15/21	09/30/21	10-Q	0001493152-21-028289
08/12/22	06/30/21	10-Q	0001493152-22-022399
05/15/23	03/31/21	10-Q	0001493152-23-017431
03/31/22	12/31/20	10-K	0001493152-22-008309
11/15/21	09/30/20	10-Q	0001493152-21-028289
08/16/21	06/30/20	Quarterly	--
05/14/21	03/31/20	Quarterly	--
08/16/16	06/30/16	10-Q	0001493152-16-012592
06/20/16	03/31/16	10-Q	0001493152-16-010943
06/10/16	12/31/15	10-K	0001493152-16-010721
11/16/15	09/30/15	10-Q	0001493152-15-005555
08/14/15	06/30/15	10-Q	0001144204-15-049256
05/15/15	03/31/15	10-Q	0001144204-15-031315
03/16/15	12/31/14	10-K	0001144204-15-016334
11/14/14	09/30/14	10-Q	0001144204-14-068393
08/14/14	06/30/14	10-Q	0001144204-14-049528
05/19/14	03/31/14	10-Q	0001144204-14-031833
03/31/14	12/31/13	10-K	0001144204-14-019230
11/14/13	09/30/13	10-Q	0001144204-13-061276
08/13/13	06/30/13	10-Q	0001144204-13-045244
05/16/13	03/31/13	10-Q	0001144204-13-029887
04/01/13	12/31/12	10-K	0001144204-13-018976
05/01/14	12/31/12	10-K/A	0001144204-14-026533
11/14/12	09/30/12	10-Q	0001144204-12-062405
08/13/12	06/30/12	10-Q	0001144204-12-044859
05/14/12	03/31/12	10-Q	0001144204-12-028461
03/30/12	12/31/11	10-K	0001144204-12-018625
11/14/11	09/30/11	10-Q	0001376474-11-000188
08/15/11	06/30/11	10-Q	0001144204-11-046870
05/12/11	03/31/11	10-Q	0001144204-11-028600
03/30/11	12/31/10	10-K	0001144204-11-018206
05/11/12	12/31/10	10-K/A	0001144204-12-028180
11/12/10	09/30/10	10-Q	0001144204-10-059853
03/07/12	09/30/10	10-Q/A	0001144204-12-013367
03/07/12	06/30/10	10-Q/A	0001144204-12-013474
08/13/10	06/30/10	10-Q	0001144204-10-043560
05/17/10	03/31/10	10-Q	0001144204-10-028139
04/15/10	12/31/09	10-K	0000950123-10-035188
11/25/09	09/30/09	10-Q	0001144204-09-062042
09/14/09	07/31/09	10-Q	0001002014-09-000771
06/16/09	04/30/09	10-Q	0001002014-09-000502
04/30/09	01/28/09	10-K	0001002014-09-000348
12/15/08	10/30/08	Unknown	--
09/15/08	07/31/08	10-Q	0001002014-08-000822
06/16/08	04/30/08	10-Q	0001002014-08-000477
04/30/08	01/29/08	Unknown	--
10/31/07	10/30/07	Unknown	--
09/14/07	07/31/07	10QSB	0001002014-07-000766
06/14/07	04/30/07	10QSB	0001002014-07-000468
12/14/07	10/30/06	10QSB	0001002014-07-001109