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MARKETS / NYSE / SDEV
NYSE · FINANCE SERVICES · SMALL CAP

Stablecoin Development Corp. SDEV

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$-630.8M
In brief

What this company does

We were historically focused on the development and sale of scientifically-created and clinically-proven eyecare, wound care, and skin care products. We have adopted a capital allocation strategy focused on acquiring digital assets that provide exposure to economic participation within open digital financial networks. As of the closing of the Private Placement, we held an aggregate of approximately 943.6 million SKY. We hold substantially all of our SKY in custody accounts with U.S.-based service providers that have demonstrated records of regulatory compliance and information security. Our current custodial and infrastructure service providers currently are Fireblocks, Inc. (“Fireblocks”) and Payward Financial, Inc. (“Kraken”).

Written from the business description in NovaBay Pharmaceuticals, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 March 2026. Every sentence was checked against that document before publication.

Growth
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2024 · Revenue 9.8 · Net income -7.2
8M16M-8M-16M200920112013201520172019202120232025
Compound annual growth
−1.4%
+8.2%
+25.0%
−3.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
Operating margin Net margin
FY2024 · Operating -75.4% · Net -73.8%
-500%-1000%-1500%200920112013201520172019202120232025
ROE
FY2024 · ROE -453.6%
-500%-1000%200920112013201520172019202120232025

Cash & shareholders
USD 4.8M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -7.5
-8M-16M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 4.8 · Net buybacks —
2M4M201920242025

USD 4.8M in dividends went back to shareholders in a year without profit.

Total assetsUSD 9.0M
EquityUSD -631.8M
CashUSD 8.0M
Current ratio7.60×

Equity funds -6993% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B·0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
EBITDA $B·−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B−0.6−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B·−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0−0.0
EPS, diluted $····−150.00−310.00−480.00−0.46−0.48−1.40−6.82−7.65−10.51−0.24−0.20−0.1823115.00
Dividend / sh $4.00················
Payout %−1−0····−0··········
ROE %·−453.6−139.0−102.4−51.8−166.1−325.9−173.4−152.7−1313.1·−822.2·····
Shares out B0.030.000.000.000.000.040.030.020.020.020.000.000.040.040.030.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 1 failures · 1 divergences in 79 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 16 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures1 divergent
ActivityFinance Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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