Nakamoto (NAKA) Stock Overview

Develops and invests in a global portfolio of Bitcoin-native companies. More details

NAKA fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	0/6
Financial Health	1/6
Dividends	0/6

Rewards

Revenue is forecast to grow 87.42% per year

Risk Analysis

Shareholders have been substantially diluted in the past year

Has less than 1 year of cash runway

Does not have meaningful revenue ($3M)

Currently unprofitable and not forecast to become profitable over the next 3 years

+ 2 more risks

NAKA Community Fair Values

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Nakamoto Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Nakamoto
Historical stock prices
Current Share Price	US$4.21
52 Week High	US$679.20
52 Week Low	US$4.05
Beta	15.71
1 Month Change	-41.77%
3 Month Change	-57.22%
1 Year Change	-99.26%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-96.51%

Recent updates

Seeking Alpha • Oct 30

Kindly MD's Bitcoin Strategy: Post-Selloff Valuation Looks Compelling

Summary After merging with Nakamoto, Kindly MD pivoted to a Bitcoin-treasury strategy while maintaining negligible legacy outpatient healthcare services in Utah. NAKA has secured a loan from Two Prime and redeemed a Yorkville debenture. The long-term goal remains to continue refinancing and growing its Bitcoin holdings. The main risk remains the Nasdaq’s new regulations that require shareholder approval for equity-funded crypto purchases. However, NAKA’s Bitcoin holdings imply a much more reasonable valuation for the stock at these levels. Therefore, I believe NAKA’s risk-reward equation has substantially improved, which is why I upgrade it to a viable speculative “buy” for long-term Bitcoin bulls. Read the full article on Seeking Alpha

Shareholder Returns

	NAKA	US Healthcare	US Market
7D	-2.5%	-2.4%	1.4%
1Y	-99.3%	17.6%	25.7%

Return vs Industry: NAKA underperformed the US Healthcare industry which returned 17.6% over the past year.

Return vs Market: NAKA underperformed the US Market which returned 25.7% over the past year.

Price Volatility

Is NAKA's price volatile compared to industry and market?
NAKA volatility
NAKA Average Weekly Movement	14.8%
Healthcare Industry Average Movement	6.9%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

Stable Share Price: NAKA's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: NAKA's weekly volatility has decreased from 24% to 15% over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2019	49	David Forrest Bailey	nakamoto.com

Nakamoto Inc. develops and invests in a global portfolio of Bitcoin-native companies. It offers commercial and financial infrastructure for the capital markets. The company was formerly known as Kindly MD, Inc. and change its name to Nakamoto Inc. in January 2026.

Nakamoto Inc. Fundamentals Summary

How do Nakamoto's earnings and revenue compare to its market cap?
NAKA fundamental statistics
Market cap	US$73.26m
Earnings (TTM)	-US$289.97m
Revenue (TTM)	US$2.85m

25.7x

P/S Ratio

-0.3x

P/E Ratio

Is NAKA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NAKA income statement (TTM)
Revenue	US$2.85m
Cost of Revenue	US$14.86m
Gross Profit	-US$12.01m
Other Expenses	US$277.96m
Earnings	-US$289.97m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	-16.66
Gross Margin	-421.57%
Net Profit Margin	-10,180.30%
Debt/Equity Ratio	57.1%

How did NAKA perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/21 16:14
End of Day Share Price	2026/06/18 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nakamoto Inc. is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Fedor Shabalin	B. Riley Securities, Inc.
Matthew Galinko	Maxim Group

Nakamoto (NAKA) Stock Overview

Rewards

Risk Analysis

Nakamoto Inc. Competitors

DocGo

Park Dental Partners

P3 Health Partners

EUDA Health Holdings

Price History & Performance

Recent News & Updates

Nakamoto Inc. (NasdaqGM:NAKA) announces an Equity Buyback for $25 million worth of its shares.

High number of new and inexperienced directors

Chairman & CEO recently bought US$993k worth of stock

Consensus revenue estimates increase by 24%

New minor risk - Market cap size

High number of new and inexperienced directors

Recent updates

Nakamoto Inc. (NasdaqGM:NAKA) announces an Equity Buyback for $25 million worth of its shares.

High number of new and inexperienced directors

Chairman & CEO recently bought US$993k worth of stock

Consensus revenue estimates increase by 24%

New minor risk - Market cap size

High number of new and inexperienced directors

Price target decreased by 25% to US$0.75

Kindly MD, Inc. Receives A Non-Compliance Notice from the Listing Qualifications Department of the Nasdaq Stock Market

Kindlymd, Inc. Appoints John Dalton as Chief Accounting Officer and Controller, Effective December 8, 2025

Kindly MD, Inc. announced delayed 10-Q filing

Kindly MD's Bitcoin Strategy: Post-Selloff Valuation Looks Compelling

Kindly MD, Inc., Annual General Meeting, Dec 17, 2025

Kindly MD, Inc. has filed a Follow-on Equity Offering in the amount of $5 billion.

Kindly MD, Inc. Appoints Tim Pickett as Chief Medical Officer

New major risk - Shareholder dilution

Nakamoto Holdings Inc. completed the acquisition of Kindly MD, Inc. (NasdaqCM:KDLY) from Wade Rivers LLC and others in a reverse merger transaction.

New major risk - Financial position

Second quarter 2025 earnings released: US$0.35 loss per share (vs US$0.26 loss in 2Q 2024)

Kindly MD, Inc. announced that it expects to receive $51.5 million in funding

Nakamoto Holdings Inc. entered into a definitive merger agreement to acquire Kindly MD, Inc. (NasdaqCM:KDLY) in a reverse merger transaction for $24.9 million.

New major risk - Financial position

Kindly MD, Inc. announced that it expects to receive $710 million in funding from Yorkville Advisors Global LP, ACTAI Ventures, Arrington Capital Investment Management, LLC, Kingsway Financial Services Inc., Off The Chain Capital, LLC and other investors

First quarter 2025 earnings released: US$0.17 loss per share (vs US$0.061 loss in 1Q 2024)

Full year 2024 earnings released: US$0.67 loss per share (vs US$0.36 loss in FY 2023)

New major risk - Financial position

Kindly MD, Inc. (NasdaqCM:KDLY) announces an Equity Buyback for $0.5 million worth of its shares.

Kindly MD, Inc., Annual General Meeting, Nov 08, 2024

Kindly MD, Inc. Appoints Jeremy Joyal as Medical Director

Kindly MD, Inc. Appoints Nancy Pratt as Behavioral Health Program Director

Second quarter 2024 earnings released: US$0.26 loss per share (vs US$0.13 loss in 2Q 2023)

New major risk - Market cap size

First quarter 2024 earnings released: US$0.061 loss per share (vs US$0.041 loss in 1Q 2023)

Shareholder Returns

Price Volatility

About the Company

Nakamoto Inc. Fundamentals Summary

Earnings & Revenue

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources