STAK Inc.

What they do

STAK Inc. conducts operations through PRC subsidiaries including Changzhou Zhongshan Intelligent Equipment Co., Ltd., YLAN Technology (Changzhou) Co., Ltd., and STAK (Changzhou) Intelligent Technology Co., Ltd. The company is classified under the Oil & Gas Field Machinery & Equipment industry and is headquartered in Changzhou, Jiangsu, People's Republic of China. As of June 30, 2025, it had 13,210,349 ordinary shares outstanding, comprising 4,010,349 Class A ordinary shares and 9,200,000 Class B ordinary shares.

Revenue drivers

• Oil and gas field machinery and equipment — The company's primary business is oil and gas field machinery and equipment, though the provided excerpts do not break out product-level or segment revenue.
• PRC operating subsidiaries — Revenue is generated through PRC subsidiaries including Changzhou Zhongshan Intelligent Equipment Co., Ltd. and YLAN Technology (Changzhou) Co., Ltd., as identified in the filing.

Recent performance

Revenue was $21.1M in 2023, $18.9M in 2024, and $24.9M in 2025, representing growth in the most recent year after a decline. Net income was $3.5M in 2023, $2.4M in 2024, and negative $5.7M in 2025, with the swing to a loss. Diluted EPS was $0.35, $0.24, and negative $0.53 for the same periods. Operating cash flow was negative in all three years: negative $1.5M, negative $2.7M, and negative $2.9M. At June 30, 2025, total assets were $26.8M, total liabilities were $13.9M, shareholder equity was $12.9M, and cash and equivalents were $1.0M.

Strategy

The provided excerpts do not include management's specific strategic plans, investment priorities, or stated direction beyond the company's identification of its PRC operating subsidiaries and its listing on Nasdaq.

Risks

• Net loss — The company reported a net loss of $5.7M in fiscal 2025, compared to net income of $2.4M in 2024 and $3.5M in 2023.
• Negative operating cash flow — Operating cash flow was negative $2.9M in 2025, following negative $2.7M in 2024 and negative $1.5M in 2023.
• Low cash balance — Cash and equivalents were $1.0M at June 30, 2025, against total liabilities of $13.9M.
• PRC operations and Cayman holding structure — Operations are conducted through PRC subsidiaries while the parent is a Cayman Islands exempted company, subjecting the company to risks associated with the PRC legal and regulatory environment.

Outlook

The provided excerpts do not contain management's outlook or guidance for future periods. The filing is a Form 20-F for the fiscal year ended June 30, 2025, and includes forward-looking statement language, but no specific forward guidance is excerpted here.