NAKA
Nakamoto Inc.Healthcare·Medical - Equipment & Services
$6.26
$6.0B market cap
Revenue
$3.1M
Free Cash Flow
$-7.6M
Rev Growth
+0.0%
FCF Margin
-242.3%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Nakamoto Inc. develops and invests in a global portfolio of Bitcoin-native companies. The company provides commercial and financial infrastructure for the capital markets. The company was formerly known as Kindly MD, Inc. and change its name to Nakamoto Inc. in January 2026. The company was incorporated in 2019 and is based in Nashville, Tennessee.
2-Year Price History
$7.23-93.4%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 2.7 | -14.7 | -15.8 | -238.8 | -23.3 | 0.0 | -23.3 | 35.3 | 209.7 | 200.2 | -27.8% | -3.5x | -- |
| Act | 2025-Q4 | 0.4 | 43.8 | -7.3 | 37.3 | -7.6 | -7.6 | -0.0 | 22.6 | 209.6 | 200.2 | -7.7% | 6.2x | -- |
Valuation & Metrics
Market Stats
Price$6.26
Market Cap$6.0B
Enterprise Value$6.2B
P/S Ratio1924.7x
P/FCF--
EV/FCF--
FCF Margin (TTM)-242.3%
FCF Yield-0.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$3.1M
Net Income$-201.5M
Free Cash Flow$-7.6M
Revenue Growth (YoY)+0.0%
EBITDA Margin930.9%
Net Margin-6452.8%
FCF Margin-242.3%
CapEx % of Revenue745.6%
SBC % of Revenue0.0%
ROIC-17.8%
WC Change % Rev0.0%
Interest Coverage2.6x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares22.4M
Days to Cover3.3
Change (vs Prior)+20.0%
Need at least 2 settlement dates for chart
Employees
Headcount23
Revenue / Employee$135,779
Gross Profit / Employee$-723,550
Cash Runway
56.0months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
19.2%(+17.9% YoY)
47 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
4.4%(+4.4% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
0.9%(+0.9% YoY)
6 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Alyeska Investment Group, L.P. | $5.7M | $22.34 | +$0 | +$5.7M | -0.2% | $35.33B |
| UBS Group AG | $3.7M | $12.11 | +$75.3M | +$3.7M | -0.3% | $562.11B |
| Yorkville Advisors Global, LP | $2.1M | $42.80 | +$0 | +$2.1M | -17.6% | $147M |
| Hunting Hill Global Capital, LLC | $1.8M | $14.04 | −$44.8M | +$1.8M | +2.4% | $83.8M |
| BlackRock, Inc.Passive | $1.7M | $42.71 | +$189K | +$1.7M | -0.2% | $5.69T |
| MILLENNIUM MANAGEMENT LLC | $1.5M | $15.56 | +$745K | +$1.5M | -0.5% | $127.40B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $1.1M | $38.51 | +$2.7M | +$1.1M | +2.3% | $1.61T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $1.1M | $8.84 | +$43.7M | +$1.1M | — | $4.04T |
| Saba Capital Management, L.P. | $1.1M | $13.16 | +$7.2M | +$1.1M | -3.9% | $3.09B |
| Stratos Wealth Partners, LTD. | $988K | $14.04 | +$0 | +$988K | -0.1% | $8.78B |
| VAN ECK ASSOCIATES CORP | $986K | $42.80 | +$0 | +$986K | +0.9% | $133.17B |
| Brevan Howard Capital Management LP | $924K | $14.04 | −$38.5M | +$924K | -0.6% | $9.34B |
| JANE STREET GROUP, LLCMM | $920K | $14.18 | −$15.3M | +$920K | -0.1% | $92.10B |
| Arrington Capital Management, LLC | $647K | $14.04 | +$0 | +$647K | +0.2% | $88.1M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $550K | $37.41 | +$3.7M | +$550K | +0.7% | $645.81B |
| VANGUARD FIDUCIARY TRUST COPassive | $490K | $8.84 | +$19.6M | +$490K | — | $395.83B |
| Vontobel Holding Ltd. | $452K | $9.07 | +$17.9M | +$452K | -0.7% | $29.07B |
| RK Capital Management, LLC/FL | $437K | $42.80 | −$7.0M | +$437K | +2.4% | $43.5M |
| STATE STREET CORPPassive | $411K | $39.85 | +$1.5M | +$411K | -0.2% | $2.89T |
| NORTHERN TRUST CORPPassive | $194K | $51.17 | −$197K | +$194K | -0.2% | $755.34B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-7.63%
avg per quarter
Holders (ex-self)
-1.72%
excl. this stock
Buyers (this Q)
-0.31%
19 buyers · $0.00B in
Sellers (this Q)
-3.39%
14 sellers · $0.01B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+12.8%
how holders react when this stock falls
On quiet Qs
-10.7%
−10% to +10% baseline
On rallies (+10%+)
-5.8%
how they react when this stock rises
Holders' portfolio flow this Q
+8.1%
inflows — adds are organic
Sellers' portfolio flow this Q
+24.4%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-4.9%
Holder mid (any stock)
-10.7%
Holder rally (any stock)
-11.3%
Biggest decreases this quarter
Hunting Hill Global Capital, LLC−$44.8Mα+2.4Brevan Howard Capital Management LP−$38.5Mα-0.6JANE STREET GROUP, LLC−$15.3Mα-0.1RK Capital Management, LLC/FL−$7.0Mα+2.4Verition Fund Management LLC−$2.1Mα-0.1Luxor Capital Group, LPexited−$439KGROUP ONE TRADING LLCexited−$360KNewEdge Advisors, LLCexited−$316KNORTHERN TRUST CORP−$197Kα-0.2SIMPLEX TRADING, LLCexited−$87K
New buyers this quarter
Top-5 holders · 53.4%
Alyeska Investment Group, L.P.--
UBS Group AG--
Yorkville Advisors Global, LP--
Hunting Hill Global Capital, LLC--
BlackRock, Inc.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
ParaFi Capital LP—FMR LLC—RK Capital Management, LLC/FL2.0MYorkville Advisors Global, LP9.3MAlyeska Investment Group, L.P.25.6MVerition Fund Management LLC560KVAN ECK ASSOCIATES CORP4.5MCORRECT CAPITAL WEALTH MANAGEMENT—Hunting Hill Global Capital, LLC8.2MUBS Group AG16.9M
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (1 analysts)$8.002780.0%
Current Price$6.26
Analyst Ratings
2
Buy: 2Consensus: Buy
Filing Risk Analysis
Filing Risk Scores
KindlyMD: A Shrinking Healthcare Shell Pivoting into a Dilutive Bitcoin Holding Vehicle
Overall Risk
9/10
Fraud
7/10
Dilution
10/10
Insolvency
6/10
Earnings Overstated
5/10
Hidden Liabilities
8/10
Legal
6/10
Audit Warnings
7/10
Hidden Upside
3/10
Contextually Acceptable
2/10