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BLMZ

Harrison Global Holdings Inc.

BLMZ

Harrison Global Holdings Inc. • NASDAQ
$1.01 ▼ -3.74% (-0.04)
Market Cap $1.48 M
52w High $7.19
52w Low $0.60
Dividend Yield 0%
P/E -0.5
Volume 86.21K
Outstanding Shares 1.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2024 $125.231M ▲ $53.493M ▲ $-18.845M ▼ -15.049% ▼ $-15.2 ▼ $-11.962M ▼
Q4-2023 $70.098M ▲ $33.854M ▲ $-7.049M ▲ -10.057% ▲ $-0.038 ▲ $4.601M ▲
Q2-2023 $60.099M ▲ $19.02M ▲ $-8.841M ▼ -14.711% ▲ $-7.151 ▼ $-4.503M ▼
Q1-2023 $30.775K ▼ $11.623K ▼ $-4.527K ▼ -14.711% ▼ $-0 ▼ $-2.306K ▼
Q4-2022 $89.767M $15.084M $577.354K 0.643% $0 $9.937M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $148.639M ▲ $729.003M ▲ $245.744M ▲ $483.259M ▲
Q2-2024 $29.07M ▼ $428.609M ▲ $218.174M ▲ $210.435M ▲
Q4-2023 $59.955M ▲ $314.319M ▲ $85.468M ▲ $1.534M ▲
Q2-2023 $1.69M ▲ $258.942M ▲ $2.323M ▲ $266.038K ▲
Q1-2023 $224.865K $34.463M $309.219K $35.407K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2024 $-124.276K ▲ $146.336K ▲ $-539.525K ▼ $184.767K ▲ $-209.698K ▲ $146.34K ▲
Q4-2023 $-7.049M ▲ $-53.832M ▼ $17.558M ▲ $-143.526M ▼ $-192.418M ▼ $-75.171M ▼
Q2-2023 $-8.841M ▼ $8.45M ▲ $-34.476M ▼ $180.203M ▲ $163.846M ▲ $8.45M ▲
Q1-2023 $-4.527K ▼ $4.327K ▼ $0 ▲ $74.623K ▲ $78.951K ▲ $4.327K ▼
Q4-2022 $577.354K $64.224M $-3.286M $-1.052M $0 $63.83M

Five-Year Company Overview

Income Statement

Income Statement BLMZ looks like a small, early‑stage company that is ramping up spending faster than its revenue is growing. Sales have been increasing, but from a very low base, and the core business is not yet large enough to cover the higher operating costs tied to its strategic pivot and acquisitions. Profitability metrics moved from roughly breakeven to clearly loss‑making in the most recent year, suggesting heavy investment in new initiatives, integration, and possibly listing‑related expenses. The income statement tells the story of a company in “build mode,” prioritizing scale and technology over near‑term profits, with rising execution risk if growth does not accelerate to match the higher cost base.

Balance Sheet

Balance Sheet The balance sheet has strengthened in size and capital structure, likely helped by the SPAC transaction, with total assets and shareholders’ equity much higher than in prior years. Cash has improved, and debt remains relatively modest, indicating a balance sheet that is more equity‑funded than debt‑funded. This gives the company some financial flexibility to pursue its strategy. However, the overall scale remains small, and the new capital will need to support both organic growth and integration of multiple acquisitions, so the cushion may not feel large if cash burn stays elevated.

Cash Flow

Cash Flow Cash flow highlights the growing pains of the transformation. Operating cash flow has shifted from roughly flat or slightly positive in earlier years to clearly negative more recently, reflecting larger losses and higher working capital needs. Free cash flow is also negative, as the company invests in its platform, partnerships, and capabilities. Capital spending is rising but still not extreme; the main drag is operating cash burn rather than heavy physical investment. Sustained negative cash flow means the company is reliant on its existing cash reserves and potential future financing, making the pace at which new ventures begin to contribute cash a key risk to monitor.

Competitive Edge

Competitive Edge BLMZ is trying to carve out a niche at the intersection of AI, VTubers, Japanese and Korean pop culture, and experiential retail. Its roots in audio production and voice actor management, combined with VTuber know‑how and new retail assets in Korea, give it a differentiated content and distribution base compared with a pure tech or pure media company. Partnerships in AI‑driven social platforms and music creation could strengthen this ecosystem and create a modest early‑mover edge in a specialized segment. At the same time, the company is competing, directly or indirectly, with very large global entertainment, social media, and gaming platforms, where audience attention is fiercely contested. The breadth of its ambitions across entertainment, retail, health‑tech, and digital finance could either create a unique ecosystem or spread management focus thin, depending on execution.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of BLMZ’s strategy. The company is pushing into AI‑powered VTuber experiences, AI music production, and an AI‑driven social platform, building on its audio and talent base. It is also experimenting beyond entertainment, with moves into health‑tech and Web3‑related financial services. Much of this is being done through partnerships and acquisitions rather than purely in‑house R&D, which can speed time to market but increases integration complexity. The innovation agenda is ambitious and forward‑looking, but many projects are still in early stages, so there is high uncertainty about which will gain real user traction and produce durable earnings. For now, the financials suggest innovation spending is a cost center rather than a profit driver, with the payoff, if it comes, likely several years out.

Summary

Overall, BLMZ is a small, newly listed company in the middle of a major strategic transition from a niche audio and talent business to a diversified, AI‑driven entertainment and pop‑culture holding company, with side bets in health‑tech and digital assets. The income statement and cash flows show a clear shift into an investment and build phase: revenue is growing but still limited, while losses and cash burn are rising as the company scales up. The balance sheet has been strengthened by new equity capital and modest leverage, giving it some room to execute, but not unlimited time if cash outflows stay elevated. Competitively, BLMZ is aiming for a differentiated position by tying together VTubers, AI tools, cross‑border Japanese–Korean content, and physical retail experiences. The opportunity is significant but comes with substantial execution risk, integration challenges, and exposure to fast‑moving, highly competitive markets. The company’s future will largely depend on how quickly and effectively these innovative initiatives can be converted into stable, cash‑generating businesses.

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