Amaze Holdings, Inc.

What they do

Amaze Holdings operates an asset-light, end-to-end commerce platform for creators and brands, providing tools for product creation, storefronts, payments, and order management. It also retains a legacy wine business (Fresh Vine) that is no longer a strategic focus. The company generates revenue through e-commerce/subscriptions and wine product sales.

Revenue drivers

• E-commerce/Subscriptions (Core) — The Amaze platform enables creators to sell products and subscriptions, with revenue from platform fees, transactions, and managed services. This is the primary growth segment, with GMV of $9.4 million in 2025.
• Wine Products (Non-Core) — Legacy Fresh Vine wine sales through wholesale and DTC channels, priced at $15-$25 per bottle. Not expected to be a material long-term growth driver.

Recent performance

For the year ended December 31, 2025, revenue was $2.0 million, down from $2.5 million in 2024, but net loss widened to $55.2 million from $2.5 million. Diluted EPS was -$8.18 for 2025. Quarterly revenue fluctuated: $0.87 million (Q2 2025), $1.3 million (Q3 2025), $0.47 million (Q1 2026), $0.62 million (Q2 2026). As of June 30, 2026, total assets were $32.0 million, liabilities $22.9 million, and cash was minimal ($0.156 million at end of 2024).

Strategy

Management is focused on scaling the Amaze creator commerce platform, leveraging an asset-light model with third-party manufacturing and logistics. They are integrating acquired assets, including the Food Channel digital platform (acquired November 2025 for a convertible note). The wine business is being de-emphasized. The company aims to capture high-value first-party transaction data and expand creator and brand adoption.

Risks

• Limited operating history — The combined business has a short track record, making it difficult to evaluate prospects and predict demand.
• Continued losses — The company has incurred net losses every period since inception, including a $55.2 million loss in 2025, and expects further losses.
• Cash constraints — Cash and equivalents were only $0.156 million at the end of 2024, and operating cash flow was negative $17.5 million in 2025, raising going-concern risk.
• Acquisition integration — The Amaze Software acquisition and Food Channel purchase involve integration risks, including potential material adjustments to purchase price allocation.

Outlook

Management expects to continue investing in the Amaze platform and related initiatives, with expenses expected to rise. They anticipate ongoing net losses for the foreseeable future. The company is focusing on growing GMV and expanding creator and brand adoption, while managing the legacy wine business as non-core.