CID HoldCo, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsCID Holdco is a developer of a SaaS asset tracking platform using passive and active RFID and AI-enabled cameras, which went public in June 2025 through a business combination with ShoulderUp Technology Acquisition Corp.
What they do
CID Holdco helps businesses improve safety, security, and efficiency through real-time tracking of high-value assets. The company offers a SaaS platform paired with machine learning and AI to track inventory, personnel, and vehicles, and to enable vehicle collision avoidance. It serves industries including construction, military, mining, retail, warehousing, and manufacturing. The company is headquartered in Las Vegas, with administrative staff in Bethesda, hardware manufacturing in Puerto Rico through subsidiary Dot Works, embedded development in Worcester, MA, and software development in Bangalore, India.
Revenue drivers
- SaaS platform subscriptions — The company offers a SaaS platform for customer subscriptions that provides real-time tracking and visibility of high-value assets, paired with intelligent software algorithms including machine learning and AI.
- Trading — Trading
Recent performance
Annual revenue rose to $5.8 million in 2025 from $172,661 in 2024, while annual net loss widened to $36.7 million from $21.5 million. Recent quarterly revenue was highly volatile: $126,833 in the June 2025 quarter, $778,482 in the September 2025 quarter, $4.5 million in the December 2025 quarter, and just $12,214 in the March 2026 quarter. Operating cash flow was negative $13.3 million in 2025, compared with negative $3.3 million in 2024. As of March 31, 2026, total assets were $7.8 million, total liabilities were $11.9 million, and shareholders' equity was negative $4.1 million, with cash and equivalents of $853,728.
Strategy
The company focuses its research and development initiatives on Industrial IoT, indoor and outdoor tracking with seamless transitions, passive RFID including Bluetooth and 5G, in-process locating systems, and dolly management. It completed a business combination with ShoulderUp Technology Acquisition Corp. on June 18, 2025, and its common stock began trading following that transaction. Management has emphasized acquiring new customers and expanding strategic relationships, including with a key supplier in Israel. Hardware manufacturing is conducted through wholly owned subsidiary Dot Works in Puerto Rico.
Risks
- Going concern — The independent registered public accounting firm has expressed substantial doubt about the company's ability to continue as a going concern, citing the need to maintain sufficient liquidity.
- Material weaknesses — The company has identified material weaknesses in its internal control over financial reporting and has limited experience operating as a public company.
- Negative equity — As of March 31, 2026, total liabilities of $11.9 million exceeded total assets of $7.8 million, resulting in negative shareholders' equity of $4.1 million.
- Delisting and agreement terminations — Since the last 10-K, the company has disclosed delisting or listing-rule failures on August 12, August 18, and September 1, 2026, a debt-accelerating triggering event on August 18, 2026, and terminated a material agreement on July 29, 2026.
Outlook
Management states that its success depends on retaining and expanding the customer base and executing strategic initiatives. The company must manage liquidity to fund operations and meet obligations, given the going concern doubt. It also depends on continued development of its Dot Cloud SaaS platform and on strategic relationships, including with a key supplier in Israel.