MeritValue

Hypha Labs, Inc.

FUNIdata completeness 63%15 fiscal years on file

Data notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$2.5M1$2.7M1———
Net income−$686,5032−$2.06M3$246,7744−$785,4295−$3.1M5
Operating cash flow−$135,9686−$184,7867$112,5258−$1.03M9−$379,9759
Capital expenditure$56,20610$17,72210—$27,65511$32,96611
Free cash flow (derived)−$192,1746−$202,5087—−$1.06M9−$412,9419
Total debt—————
Cash & equivalents$295,93212$56,16812———
Diluted shares65.9M74.2M83.9M101.3M135.1M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$0.18
your share of equity
Profit it earned you last year
−$0.23
Free cash flow it threw off
−$0.03
Debt you’d be carrying
—

10 shares is a claim on −$0.18 of net worth that earned you −$0.23 and generated −$0.03 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+105% shares · 5y

Share count is up 105% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-09-30 · accession 0001493152-23-001551 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2021-09-30 · accession 0001493152-23-001551 (NetIncomeLoss)
  3. 10-K/A · period ending 2022-09-30 · accession 0001493152-24-002937 (NetIncomeLoss)
  4. 10-K · period ending 2023-09-30 · accession 0001493152-25-001966 (NetIncomeLoss)
  5. 10-K · period ending 2024-09-30 · accession 0001493152-26-002451 (NetIncomeLoss)
  6. 10-K · period ending 2021-09-30 · accession 0001493152-23-001551 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K/A · period ending 2022-09-30 · accession 0001493152-24-002937 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-09-30 · accession 0001493152-25-001966 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-09-30 · accession 0001493152-26-002451 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-09-30 · accession 0001493152-23-001551 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2024-09-30 · accession 0001493152-26-002451 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2021-09-30 · accession 0001493152-23-001551 (CashAndCashEquivalentsAtCarryingValue)