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VSTD

Vestand Inc.

VSTD

Vestand Inc. • NASDAQ
$0.55 ▼ -4.89% (-0.03)
Market Cap $3.11 M
52w High $5.63
52w Low $0.40
Dividend Yield 0%
P/E -0.87
Volume 110
Outstanding Shares 5.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $3.689M ▲ $2.329M ▲ $-1.204M ▲ -32.637% ▲ $-1 ▼ $-857.892K ▼
Q1-2025 $3.512M ▼ $1.368M ▲ $-1.425M ▼ -40.574% ▼ $-0.24 ▼ $-826.291K ▼
Q4-2024 $3.687M ▲ $897.025K ▼ $537.268K ▲ 14.574% ▲ $0.1 ▲ $818.587K ▲
Q3-2024 $3.016M ▼ $1.008M ▼ $-1.222M ▼ -40.527% ▼ $-0.228 ▼ $-789.395K ▼
Q2-2024 $3.325M $1.17M $-1.105M -33.224% $-0.205 $-742.246K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.327M ▼ $19.067M ▲ $14.38M ▼ $4.688M ▲
Q1-2025 $3.397M ▲ $18.986M ▲ $14.842M ▼ $4.145M ▲
Q4-2024 $1.241M ▼ $17.573M ▲ $17.318M ▼ $255.399K ▲
Q3-2024 $1.712M ▲ $17.312M ▲ $17.712M ▲ $-399.806K ▼
Q2-2024 $1.194M $17.13M $16.394M $736.607K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-1.204M ▲ $-898.807K ▼ $-2.717M ▼ $1.546M ▼ $-2.07M ▼ $-1.116M ▼
Q1-2025 $-1.425M ▼ $-863.204K ▼ $-32.622K ▲ $3.052M ▲ $2.156M ▲ $-895.826K ▼
Q4-2024 $537.268K ▲ $-289.495K ▼ $-324.485K ▼ $142.952K ▲ $-471.028K ▼ $-613.98K ▼
Q3-2024 $-1.222M ▼ $543.261K ▼ $-38.401K ▲ $13.03K ▼ $517.89K ▲ $504.86K ▼
Q2-2024 $-1.105M $994.654K $-1.842M $685.781K $-161.564K $952.655K

Five-Year Company Overview

Income Statement

Income Statement Vestand’s income statement looks very early‑stage. Revenue is essentially negligible, there is no visible gross profit, and the company has been consistently losing money each year. Earnings per share have been negative throughout, with some fluctuation but no clear sign yet of a profitable core business. Because the company is in the middle of a complete strategic pivot (from restaurants to tech‑driven real estate and crypto), past income figures mostly show that there is not yet a stable, proven earnings engine behind the new vision.

Balance Sheet

Balance Sheet The balance sheet is very thin. Total assets are very small, cash on hand appears limited, and debt makes up most of the capital structure, with only a sliver of equity. This suggests a company that has very little cushion and relies heavily on external financing to support its plans. Any large-scale real estate or crypto strategy will likely require significant additional capital beyond what is shown here.

Cash Flow

Cash Flow Cash flows so far do not show a business that funds itself. Operating cash flow is effectively flat to slightly negative, and free cash flow has been weak, driven by modest but persistent outflows. There is no sign yet of strong, recurring cash generation from operations, so the company’s growth plans depend on new funding sources rather than internally generated cash.

Competitive Edge

Competitive Edge Competitively, Vestand is trying to carve out a niche by blending real estate technology, tokenized ownership, and crypto treasury management. This is different from both traditional real estate operators and pure‑play PropTech or crypto firms. However, it is starting from a very small base in markets that already include large, data‑driven homebuyers and numerous crypto platforms. Its position will depend heavily on execution, regulatory navigation, and the strength of its partner network, rather than on scale or brand recognition at this stage.

Innovation and R&D

Innovation and R&D Innovation is the core of the new story. Vestand is betting on AI tools to pick and manage properties, security tokens to fractionalize real estate ownership, and a crypto treasury strategy to add a digital asset layer on top. These ideas are ambitious and potentially distinctive, but they are still mostly conceptual and partnership‑driven. The key uncertainties are whether the AI actually improves returns, whether tokenized property investing gains real user traction, and whether the crypto strategy adds value without adding excessive volatility and regulatory risk.

Summary

Overall, Vestand looks like a very early‑stage transformation story with a bold, technology‑heavy vision and extremely limited current financial footprint. Historic financials show minimal revenue, ongoing losses, a thin balance sheet, and no meaningful internal cash generation. The strategic pivot toward AI‑driven real estate, tokenization, and crypto could, if executed well, create a differentiated model, but it also introduces complex operational, regulatory, and market‑adoption risks. At this point, the company appears to be primarily a high‑concept, high‑uncertainty venture rather than a mature, financially established operator.

NEWS

October 27, 2025 · 5:53 PM UTC

Vestand Appoints Jaeho Yoon as Chief Financial Officer and Andrew Yun as Chief Compliance Officer

Read more

September 2, 2025 · 9:15 AM UTC

Yoshiharu Announces Corporate Name Change to Vestand Inc. and Ticker Change to “VSTD”

Read more