CEA Industries (ADR)
Operates a BNB treasury alongside Central Canadian vape and industrial climate-control businesses.
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Profile
Operates a BNB-focused digital-asset treasury alongside a Central Canadian vape retailer and manufacturer and an industrial climate-control business, while reported customer revenue comes from the operating units.
Operates two segments: BNB Treasury Management, which acquires, holds, disposes of, and manages BNB and ancillary digital assets, and Retail and Industry. The latter combines Fat Panda's Central Canadian vape shops, e-commerce, proprietary e-liquids, and wholesale business with Surna's environmental-control design, engineering, equipment-selection, and start-up support for controlled-environment agriculture.
Centers its capital strategy on BNB exposure managed through U.S., Delaware, and Cayman entities, while customer revenue comes from the retail and industrial operations. Fat Panda uses a Winnipeg manufacturing and distribution hub and a Central Canadian store network; Surna provides project support but does not construct or install facilities.
BNB concentration connects results to the BNB Chain and Binance ecosystem, a non-U.S. custody provider, and digital-asset regulation. Vape operations depend on Canadian licensing, labeling, promotion, flavor, age, and excise-tax rules.
Company facts
Key statistics
Year to date −53.1% · Average volume (30d) 204.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Mar 16, 2026Q4 FY25 | $0.48 | $0.29 | −39.6% | $9.3M | $7.3M | −21.1% | −0.91% |
| Dec 15, 2025Q3 FY25 | — | $5.36 | — | — | $116.5M | — | −0.47% |
| Oct 1, 2025Q2 FY25 | $0.71 | −$0.66 | −193.0% | — | $7.5M | — | −3.31% |
| May 15, 2025Q1 FY25 | — | −$1.33 | — | — | $713.5K | — | −8.04% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $417.4K | $713.5K | $7.5M | $116.5M | $7.3M | $26.4M | |
| Gross profit | −$174.9K | $38.7K | $2.3M | $111.5M | $1.8M | $7.9M | |
| Operating income | −$1.0M | −$1.1M | −$5.6M | $89.8M | $89.55B | −$159.6M | |
| Net income | −$1.0M | −$1.1M | −$5.8M | $283.6M | −$106.6M | $115.2M | |
| Diluted EPS | −$1.29 | −$1.33 | −$7.27 | $5.36 | −$2.00 | $2.52 | |
| Gross margin | -41.9% | 5.4% | 30.6% | 95.7% | 24.0% | 29.8% | |
| Operating margin | -245.4% | -150.5% | -74.9% | 77.1% | 1,220,938.0% | -604.3% |
Fiscal years (4-quarter sums)FY21 $13.6M · FY22 $11.3M · FY23 $6.9M · FY24 $2.8M · FY25 $132.1M
Revenue by product · Q1 FY26
Balance sheet, Apr 30, 2026Cash & short-term investments $3.1M · Total debt $3.6M · Total assets $337.8M · Shareholders' equity $304.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 41.17M · Float 36.45M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| YZILabs Management Ltd. | 2.15M | 5.07% of class | 13D | Jun 24, 2026 |
| Vanguard Capital Management LLC | 1.90M | 4.62% | 13F | May 15, 2026 |
| Brevan Howard Capital Management LP | 1.53M | 3.73% | 13F | May 15, 2026 |
| Saba Capital Management, L.P. | 1.14M | 2.78% | 13F | May 15, 2026 |
| David Namdar · officer: Chief Executive Officer | 864.4K | 2.10% | Form 4 | Dec 19, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Oct 6, 2025 | Anthony K. McDonald | director, officer: President | +5,848 | $8.55 |
| Oct 1, 2025 | Anthony K. McDonald | director, officer: President | +1,230 | $7.86 |
Peers
- British American Tobacco (ADR)
Vuse devices and pods contest Canadian vape purchases.
- Nano Labs (ADR)
Closest listed BNB-treasury alternative for digital-asset exposure.
- Strategy
Large corporate crypto-treasury alternative for public-market capital.
- Grayscale Bitcoin Mini Trust ETF
Thai listed digital-asset vehicle with a sizeable BNB allocation.
- Hydrofarm
North American CEA-equipment alternative for indoor growers.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CEA Industries (ADR) | $3.06 | +1.49% | $123.9M | — | — | 0.8 | +1,657.0% |
| British American Tobacco (ADR) | $56.13 | +0.02% | $121.07B | 13.9 | — | 3.5 | −0.1% |
| Nano Labs (ADR) | $2.14 | −4.89% | $149.5M | 0.0 | — | 0.0 | −66.1% |
| Strategy | $127.88 | +0.46% | $42.12B | — | 3.7 | 84.5 | +6.9% |
| Grayscale Bitcoin Mini Trust ETF | $34.28 | −0.04% | $4.91B | — | — | — | — |
| Hydrofarm | $0.8206 | +0.33% | $4.0M | — | — | 0.0 | −40.9% |
| Median | 7.0 | 3.7 | 1.7 | −20.5% |