DXYZ - Destiny Tech100 Inc. Stock Analysis | Stock Taper
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Destiny Tech100 Inc.

DXYZ

Destiny Tech100 Inc. NYSE
$28.42 1.79% (+0.50)

Market Cap $309.21 M
52w High $50.50
52w Low $19.71
P/E 15.53
Volume 1.31M
Outstanding Shares 10.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $-4.33M $0 $5.25M -121.15% $0.48 $5.25M
Q4-2024 $1.74M $-13.17M $14.05M 809.16% $1.29 $14.05M
Q2-2024 $167.33K $4.19M $3.38M 2.02K% $0.31 $3.38M
Q4-2023 $278.45K $-5.3 $-1.47M -529.58% $-0.14 $-1.47M
Q2-2023 $82.01K $-32.51 $0 0% $0 $-2.67M

What's going well?

The company has no debt or tax burden, and it still reported a profit despite negative revenue. Share count is stable, so there's no dilution.

What's concerning?

Revenue turned negative, gross profit vanished, and net income dropped by more than half. The business model looks unstable and the numbers are highly unusual.

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.76M $77.6M $2.3M $75.3M
Q4-2024 $0 $71.41M $1.36M $70.05M
Q2-2024 $0 $56.75M $754.86K $56M
Q4-2023 $4.83M $53.46M $838.43K $52.62M
Q2-2023 $0 $56.08M $0 $54.1M

What's financially strong about this company?

DXYZ has zero debt, lots of investments, and more than $75 million in equity. Their assets are high quality and liquid, with no risky goodwill or inventory.

What are the financial risks or weaknesses?

The company has negative retained earnings, meaning it has lost money over its history. There is very little cash on hand, and almost all assets are tied up in investments.

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $5.25M $-1.52M $1.82M $-293.56K $0 $-1.52M
Q4-2024 $14.05M $-1.22M $1.57M $-344.99K $0 $-1.22M
Q4-2023 $-1.47M $-2.33M $2.62M $-291.51K $0 $-2.33M
Q2-2023 $-2.67M $-942.71K $-11.08M $0 $-12.03M $-942.71K
Q4-2022 $-9.81M $-3.42M $2.91M $0 $-509.23K $-3.42M

What's strong about this company's cash flow?

Receivables were collected quickly this quarter, providing a short-term cash boost. No new debt or dilution occurred.

What are the cash flow concerns?

Operations are burning over $1.5M in cash per quarter, and the company has no cash left. The business cannot sustain itself without new funding.

5-Year Trend Analysis

A comprehensive look at Destiny Tech100 Inc.'s financial evolution and strategic trajectory over the past five years.

+ Strengths

DXYZ combines a unique market position with a now much stronger balance sheet: it has eliminated debt, grown shareholder equity, and built a differentiated portfolio of private technology companies that retail investors would struggle to access on their own. The business is asset-light, does not require heavy capital expenditure, and can deliver strong reported profits when portfolio valuations move favorably. Its first-mover status and closed-end structure provide a meaningful, if specialized, platform advantage in a growing area of interest.

! Risks

Financial statements show extreme volatility, with revenue, earnings, and cash flows driven more by valuation swings and one-off events than by a stable earnings engine, which makes future results hard to predict. Liquidity is thin, with very little cash on hand and heavy reliance on illiquid private holdings for value and potential funding. The company still carries accumulated losses, depends heavily on the health of the tech and venture markets, and faces the possibility of increased competition, regulatory scrutiny, and persistent gaps between its trading price and the value of its underlying assets.

Outlook

Looking ahead, DXYZ’s prospects are closely tied to the performance and eventual exit paths of its private tech holdings, as well as management’s ability to continue sourcing high-quality new investments. Financial results are likely to remain lumpy and sensitive to market conditions rather than smoothing into a predictable earnings pattern. If the underlying portfolio of companies delivers strong long-term outcomes and the fund maintains its access and brand, DXYZ could continue to grow in relevance, but investors should expect substantial uncertainty and cyclicality in reported financial metrics along the way.