Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Azio AI Holdings, Inc.AZIO · consumer durables | |
|---|---|
| Grade |  Eweakest fifth of 460 graded peers; percentile 99.3, sampling error 2.3 points; lower is stronger |
| Rank | 457 of 460 |
| Profitability | Dpercentile 75.0 |
| Solvency | Epercentile 98.4 |
| Growth and financing | Dpercentile 70.7 |
| Reliability | 0.76 AUCfailure model, filers with under $12.5M assets; 95% interval 0.65 to 0.86; 63 events, 2020 to 2025 |
| Peer failure rate | 0.60% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | under $12.5M assetstotal assets $4.7M[1] |
| Standard universe | outsiderevenue above $1M and assets above $10M[1-2] |
| Warnings | dilution, short runway, late filernot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Apr 13, 2026179 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.052026-10-08; market equity $17.3M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Apr 13, 2026; the document on sec.gov.
We are a diversified, power-backed hardware technology company focused on the development, integration, and deployment of electrified and energy-intensive systems across multiple end markets. Our operating and development initiatives are organized around a common foundation of power management, electrification, and integrated hardware know-how, with current focus areas including commercial EVs, electric drone platforms, and medical supplies. We are also exploring opportunities to develop and deploy energy-integrated artificial intelligence (“AI”) compute infrastructure.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 75.0 | |||||||
| Gross profitability | (282.8%) | [1,6] | 34.4% | 100.0 | 476 | 2025-12-31 | |
| Return on invested capital | (570.4%) | [7-15] | 8.9% | 100.0 | 163 | 2025-12-31 | |
| Accruals ratio | (179.6%) | [1,16-18] | (5.1%) | 1.0 | 525 | 2025-12-31 | |
| Gross margin stability, five years | 102.7 pts | [2,6,19-26] | 1.7 pts | 99.0 | 407 | 2025-12-31 | |
| Solvency, sleeve percentile 98.4 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | (148.79) | [1,7,11,27-30] | 2.11 | 99.0 | 402 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 2.11x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | 2.57x | |||||
| latest aligned inputs end 2017-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 0.26x | [27-28] | 1.55x | 97.8 | 541 | 2025-12-31 | |
| Growth and financing, sleeve percentile 70.7 | |||||||
| Revenue growth, three-year compound | 9.7% | [2,20,22,24] | 1.4% | 16.0 | 482 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 8.3% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 12.0% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | (48.1%) | [1,18,31-32] | 2.0% | 99.0 | 487 | 2025-12-31 | |
| Net share issuance, one year | 459.6% | [3-4] | (0.3%) | 97.1 | 382 | 2026-04-08 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.659; sampling error 2.3 percentile points on 460 peers.
Among 460 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 452 | LiveOne, Inc. (LVO) LiveOne, Inc. (LVO) Eweakest fifth; percentile 98.4 Nasdaq · Retail-Eating Places market equity $37.4M; last close $2.72 Warnings: dilution, late filer; 7 of 14 inputs | 98.4 | E | dilution, late filer |
| 453 | Energy Focus, Inc/De (EFOI) Energy Focus, Inc/De (EFOI) Eweakest fifth; percentile 98.5 Nasdaq · Electric Lighting & Wiring Equipment market equity $19.1M; last close $3.15 Warnings: fortress balance sheet; 8 of 14 inputs | 98.5 | E | fortress balance sheet |
| 454 | iPower Inc. (IPW) iPower Inc. (IPW) Eweakest fifth; percentile 98.8 Nasdaq · Retail-Building Materials, Hardware, Garden Supply market equity $1.2M; last close $0.95 Warnings: dilution, late filer, fortress balance sheet; 9 of 14 inputs | 98.8 | E | dilution, late filer, fortress balance sheet |
| 455 | 22nd Century Group, Inc. (XXII) 22nd Century Group, Inc. (XXII) Eweakest fifth; percentile 99.2 Nasdaq · Cigarettes market equity $621,675; last close $0.84 Warnings: dilution, fortress balance sheet; 8 of 14 inputs | 99.2 | E | dilution, fortress balance sheet |
| 456 | Regis Corp. (RGS) Regis Corp. (RGS) Eweakest fifth; percentile 99.2 Nasdaq · Services-Personal Services market equity $73.5M; last close $29.51 No active warnings; 7 of 14 inputs | 99.2 | E | |
| 457 | Azio AI Holdings, Inc. (AZIO) Azio AI Holdings, Inc. (AZIO) Eweakest fifth; percentile 99.3 Nasdaq · Motor Vehicle Parts & Accessories market equity $17.5M; last close $1.05 Warnings: dilution, short runway, late filer; 9 of 14 inputs | 99.3 | E | dilution, short runway, late filer |
| 458 | Playboy, Inc. (PLBY) Playboy, Inc. (PLBY) Eweakest fifth; percentile 99.6 Nasdaq · Retail-Miscellaneous Retail market equity $118.2M; last close $0.98 No active warnings; 9 of 14 inputs | 99.6 | E | |
| 459 | Hydrofarm Holdings Group, Inc. (HYFM) Hydrofarm Holdings Group, Inc. (HYFM) Eweakest fifth; percentile 100.0 Nasdaq · Wholesale-Miscellaneous Nondurable Goods market equity $4.6M; last close $0.96 Warnings: fortress balance sheet; 9 of 14 inputs | 100.0 | E | fortress balance sheet |
| 460 | Planet Green Holdings Corp. (PLAG) Planet Green Holdings Corp. (PLAG) Eweakest fifth; percentile 100.0 NYSE · Canned, Frozen & Preservd Fruit, Veg & Food Specialties market equity $10.1M; last close $0.71 Warnings: dilution, late filer, fortress balance sheet; 8 of 14 inputs | 100.0 | E | dilution, late filer, fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 99.0 | 2204 |
| sector peers, equal sleeves (the grade) | E | 99.3 | 460 |
| same exchange, equal sleeves | E | 99.0 | 1219 |
| sector peers, equal inputs | E | 98.3 | 460 |
Each letter is one fifth of the 460 graded peers, about 92 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (16.0%) | (0.2%) | 31 | hotter than 31 of 100 peers |
| Distance from 52-week high | (71.2%) | (25.6%) | 8 | closer to its high than 8 of 100 peers |
| EBIT to enterprise value | (138.0%) | 5.0% | 4 | pricier than 96 of 100 peers |
| Free cash flow yield | (33.0%) | 4.6% | 7 | pricier than 93 of 100 peers |
| Book value to price | (0.71) | 0.45 | 2 | pricier than 98 of 100 peers |
| Sales to price | 0.34 | 1.49 | 10 | pricier than 90 of 100 peers |
| Composite equity issuance, five years | not computable | (16.0%) | five-year total-return history is required | |
| Relative strength against the sector, log excess return | (0.15) | (0.01) | 36 | ahead of 36 of 100 peers |
Inputs: market equity $17.5M; EBIT -$38.7M; free cash flow -$5.8M; book equity -$12.4M; sales $5.9M; debt $10.7M; cash $141,955[33].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 3 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (119.8%) | ✗ fail[16,18] |
| Operating cash flow above zero | -$5.6M | ✗ fail[17] |
| Return on assets improved | (80.7 pts) | ✗ fail[16,18,31,34] |
| Operating cash flow exceeds net income | $33.5M | ✓ pass[16-17] |
| Long-term leverage fell | (9.6 pts) | ✓ pass[1,10,13,18,31] |
| Current ratio improved | (123.9 pts) | ✗ fail[27-28,35-36] |
| No new shares issued | 459.6% | ✗ fail[3-4] |
| Gross margin improved | (248.4 pts) | ✗ fail[2,6,19-20] |
| Asset turnover improved | 9.9 pts | ✓ pass[2,18,20,31] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $141,955[5] |
| Operating cash flow, four quarters | -$8.9M[5,17,37-40] |
| Months of runway | 0.2 |
| Late filings, two years | 7 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 52 |
| 10-Q received Aug 18, 2026 | |
| Median daily dollar volume | $256,063 |
| 63 sessions | |
| Days since newest grade input | 179 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $4.7M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $5.9M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 3 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 12,930,719 | 2026-04-08 | 2026-04-13 | 10-K | filing · viewer · series |
| 4 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 23,106,392 | 2025-04-10 | 2025-04-15 | 10-K | filing · viewer · series |
| 5 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $141,955 | 2026-06-30 | 2026-08-18 | 10-Q | filing · viewer · series |
| 6 | gross profit | us-gaap:GrossProfit | -$13.2M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 7 | operating income | us-gaap:OperatingIncomeLoss | -$38.7M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 8 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | -$39.1M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 9 | income tax | us-gaap:IncomeTaxExpenseBenefit | $0 | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 10 | total debt | us-gaap:LongTermDebt | $485,773 | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 11 | book equity | us-gaap:StockholdersEquity | -$8.9M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 12 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $358,966 | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 13 | total debt | us-gaap:LongTermDebt | $3.4M | 2024-12-31 | 2025-04-15 | 10-K | filing · viewer · series |
| 14 | book equity | us-gaap:StockholdersEquity | $20.9M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 15 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $1.9M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 16 | net income | us-gaap:NetIncomeLoss | -$39.1M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 17 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.6M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 18 | assets | us-gaap:Assets | $32.7M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 19 | gross profit | us-gaap:GrossProfit | $488,803 | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 20 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $1.9M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 21 | gross profit | us-gaap:GrossProfit | $1.0M | 2023-12-31 | 2025-04-15 | 10-K | filing · viewer · series |
| 22 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $2.9M | 2023-12-31 | 2025-04-15 | 10-K | filing · viewer · series |
| 23 | gross profit | us-gaap:GrossProfit | $1.7M | 2022-12-31 | 2024-03-28 | 10-K | filing · viewer · series |
| 24 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $4.5M | 2022-12-31 | 2024-03-28 | 10-K | filing · viewer · series |
| 25 | gross profit | us-gaap:GrossProfit | $761,376 | 2021-12-31 | 2023-09-25 | 10-K | filing · viewer · series |
| 26 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $2.0M | 2021-12-31 | 2023-09-25 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $3.5M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $13.3M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 29 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$112.6M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 30 | liabilities | us-gaap:Liabilities | $13.6M | 2025-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 31 | assets | us-gaap:Assets | $22.7M | 2023-12-31 | 2025-04-15 | 10-K | filing · viewer · series |
| 32 | assets | us-gaap:Assets | $33.5M | 2022-12-31 | 2024-03-28 | 10-K | filing · viewer · series |
| 33 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 16,467,848 | 2026-08-12 | 2026-08-18 | 10-Q | filing · viewer · series |
| 34 | net income | us-gaap:NetIncomeLoss | -$8.8M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 35 | current assets | us-gaap:AssetsCurrent | $17.6M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 36 | current liabilities | us-gaap:LiabilitiesCurrent | $11.7M | 2024-12-31 | 2026-04-13 | 10-K | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$8.7M | 2026-06-30 | 2026-08-18 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.3M | 2026-03-31 | 2026-05-19 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$6.3M | 2025-09-30 | 2025-11-20 | 10-Q | filing · viewer · series |
| 40 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.4M | 2025-06-30 | 2026-08-18 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 99.3 is 19.3 points from the nearest band edge; sampling error is 2.3 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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