SRAX, Inc. (SRAX): BCG Matrix [Dec-2025 Updated]

You're looking for a clear map of SRAX, Inc.'s portfolio, and honestly, it's a tough one because the company's in a deep transition, so we can't defintely point to a high-share product right now. We see no established 'Cash Cows' funding the future, and the 'Stars' quadrant remains aspirational, entirely dependent on the Sequire platform's Web3 pivot succeeding post-merger. This means the core business sits squarely as a Question Mark, demanding heavy capital to move from its current low market share to true dominance. Dive below to see exactly where the legacy assets landed and what this means for your near-term risk assessment.

Background of SRAX, Inc. (SRAX)

You're looking to map SRAX, Inc. (SRAX) onto the BCG Matrix, so let's first establish what the company actually does and what its recent financial footing looks like. SRAX, Inc. is fundamentally a technology company. Its core mission revolves around building what it calls the premier operating system for public companies, specifically designed to enhance communication between those issuers and their shareholders and investors. This is primarily delivered through its Software as a Service (SaaS) platform, Sequire.

The business model is heavily concentrated. As of the first quarter of 2023, the Sequire SaaS platform was responsible for generating nearly all the company's top line, accounting for 99.75% of total revenues for that three-month period. Geographically, SRAX, Inc. has a very strong domestic focus, with 99.41% of its Q1 2023 revenue coming from customers in the United States. To streamline operations and raise capital, SRAX, Inc. divested its subsidiary, LD Micro, in March 2023.

Financially, the company has been navigating a significant transition, which has impacted reported revenues. For instance, revenues for the six months ending June 30, 2023, were $5.917 million, a sharp drop from the prior year, which management attributed to a shift toward accepting only cash for services. However, the company has shown improvement in operational efficiency, with the income from operations moving to $0.890 million in Q1 2023, compared to a loss of $(1.328 million) in the prior year period.

As of the market close on Wednesday, March 26, 2025, SRAX, Inc. had a market capitalization of approximately $9.3M, based on 29.2M shares outstanding, with a stock price noted at $0.32. The trailing twelve-month revenue figure around that time was reported as $18.6M. Still, it's important to note that some analysis suggests a very recent year-over-year revenue growth rate of -75.4% quarter-over-quarter, alongside a negative operating margin of -21.4%. The company's strategy, as of early 2025, involved optimizing its balance sheet and reducing reliance on market securities for cash flow, which is a defintely critical factor for its near-term stability.

SRAX, Inc. (SRAX) - BCG Matrix: Stars

For SRAX, Inc. (SRAX), the Stars quadrant remains largely aspirational as of the latest available data points leading into late 2025.

• - None currently; the company lacks a high-share, high-growth segment.
• - The Sequire platform's Web3 pivot is the only candidate but has low current market share.
• - This quadrant is aspirational, contingent on the success of the DNA Holdings merger.
• - Achieving the 2025 forecasted annual revenue of $95 million would move Sequire here.

The strategic pivot following the definitive merger agreement with DNA Holdings Venture Inc., where DNA shareholders became majority owners, is the primary driver for potential Star positioning. DNA Holdings currently owns approximately 35% of the company as of May 2024. The goal is to leverage the Sequire platform to capture a leading share in the Web3 services market, which is described as a rapidly growing $2T+ Worldwide market.

To illustrate the gap between current performance and the required threshold for Star status, consider the historical revenue context. For the six months ended June 30, 2023, total revenues were $5,917,000. An older analyst estimate projected 2025 revenue to be $18.6 million, which is significantly below the $95 million target cited as the benchmark for this quadrant.

The following table contrasts the aspirational target with the last reported semi-annual revenue figure:

The Sequire platform, the focus of the growth strategy, generates revenue from licensing, data, marketing, and insight services, recognized using the percentage of completion method. The success of this unit is directly tied to the post-merger strategy focusing on Web3 projects and decentralized finance opportunities. If market share is maintained and growth accelerates as planned, Sequire could transition from a Question Mark or Dog status into a Star. The current stock price as of December 1, 2025, was $0.0120 USD.

Key strategic elements supporting the potential for Star classification include:

• - Merger with DNA Holdings to gain Web3 expertise.
• - Sequire platform's role in investor insights for Web3 projects.
• - DNA team's advisory in projects valued up to $100B USD.
• - Focus on the rapidly growing Web3 market.

SRAX, Inc. (SRAX) - BCG Matrix: Cash Cows

The Boston Consulting Group Matrix framework defines Cash Cows as established products or business units operating in a low-growth market but possessing a high market share, which results in significant, stable cash flow generation. For SRAX, Inc. (SRAX), the current operational and financial profile does not align with this classification.

You're looking for stable, high-margin businesses that fund the rest of the portfolio; SRAX, Inc. (SRAX) presents a different picture right now.

Here is the analysis supporting the absence of Cash Cows for SRAX, Inc. (SRAX) based on recent financial disclosures:

• - None; SRAX operates as a single segment focused on high-growth FinTech, specifically the Sequire SaaS platform, which accounted for 99.75% of total revenues for the three months ended March 31, 2023.
• - The company is not a net cash generator, reporting a Q2 2023 net loss of $(6.017)$ million. The latest reported quarter's net income was -6.02$ million.
• - The strategic shift to cash-only compensation has reduced revenue, not stabilized it for cash generation; Q2 2023 revenues were $1.903$ million, down from $7.722$ million in Q2 2022.
• - Total assets of $4.90$ million versus total liabilities of $11.76$ million as of the latest quarter do not support a Cash Cow profile, resulting in a stockholders' deficit of $(11.255)$ million as of June 30, 2023.

The fundamental characteristics of a Cash Cow-high market share in a mature market leading to high profit margins and strong cash flow-are absent when you look at the hard numbers. Instead, the financials point toward a business unit still in a high-investment or turnaround phase, which would typically be classified as a Question Mark or a Dog, depending on market share.

The company's reliance on converting marketable securities to meet working capital requirements further underscores the lack of inherent, stable cash flow needed for a Cash Cow designation. Furthermore, the Debt to Equity ratio is reported at -39.42%, which is inconsistent with the strong balance sheet typically associated with a Cash Cow. The focus remains on the Sequire platform, which is positioned as a high-growth FinTech play, suggesting a Question Mark or Star classification, not a mature Cash Cow.

You should note the following key financial indicators that actively disqualify SRAX, Inc. (SRAX) from the Cash Cow category:

• - Net Loss of $(6.017)$ million in Q2 2023.
• - Total Liabilities ($11.76$ million) exceeding Total Assets ($4.90$ million).
• - Revenue decline due to strategic payment model change.
• - Cash at June 30, 2023, was $0$.

Finance: review the Q3 2025 cash flow statement against the Q2 2023 figures to confirm the trend of cash consumption by next Tuesday.

SRAX, Inc. (SRAX) - BCG Matrix: Dogs

The Dogs quadrant represents business units or products that operate in low-growth markets and possess a low market share. For SRAX, Inc., these are primarily historical elements or non-core activities that have been actively divested or represent past structural inefficiencies that required capital to resolve. These units, by definition, tie up capital without generating significant returns, making divestiture the typical strategic action.

Legacy non-cash revenue streams from accepting securities as compensation represent a historical operational drag. As of December 31, 2021, management noted a specific internal control material weakness related to a lack of internal personnel to properly evaluate the fair value and the associated revenue recognition for these non-cash revenue contracts. This points to the complexity and potential misstatement risk associated with this legacy revenue type, which SRAX, Inc. has sought to minimize. For context on the overall operating environment at that time, SRAX, Inc. reported an income/(loss) from operations of $(85,000) for the year ended December 31, 2021.

The divestiture of the LD Micro subsidiary in March 2023 was a clear move to shed a low-growth/low-share component, even though it was a conference business. SRAX, Inc. successfully sold LD Micro to Freedom Holding Corp. for a total consideration of $8,300,000 on March 6, 2023. This consideration was split into $4 million in cash and common stock valued at $4.3 million from the buyer. SRAX, Inc. did, however, secure the exclusive right to stream the conference via its Sequire platform for four years, which is an attempt to extract residual value from the divested asset.

The pre-merger corporate structure and associated overhead costs are another area that fits the Dog profile, representing fixed costs that do not scale with the core business. While specific 2025 overhead figures are not isolated from current operating expenses, historical filings from 2021 noted the company incurred various one-time charges related to impairments and changes to marketable securities, which often stem from cleaning up legacy structures. The overall revenue for SRAX, Inc. in 2022 was $27.86 million, providing a baseline against which the cost structure of the pre-streamlined entity can be measured.

The historical BIGToken platform is the most significant example of a unit that was a Question Mark and then became a Dog before being eliminated. SRAX, Inc. ceased to be the majority owner on November 1, 2021, following a merger with BritePool, with the final divestiture closing on February 4, 2021, and deconsolidation effective December 1, 2021. At the time of deconsolidation, SRAX, Inc. held its remaining position on the balance sheet at approximately $4M. This move was explicitly made to allow investors to recognize the true operating performance of the core Sequire platform, indicating BIGToken's results were masking the core business's true performance.

Here is a summary of the key financial markers associated with these non-core or divested elements:

The ongoing cost of the legacy structure is implicitly captured in the overall operating expenses, which SRAX, Inc. has been working to contain. For instance, the annual Stock-Based Compensation, a non-cash expense, was reported at $-12.38M. You need to track the Q3 2025 filing to see if any residual costs from these past activities still appear as one-time charges or if the overhead has been fully absorbed by the streamlined operations. Finance: draft 13-week cash view by Friday.

SRAX, Inc. (SRAX) - BCG Matrix: Question Marks

You're looking at a business unit that's burning cash while chasing a market that's expanding rapidly-that's the classic Question Mark position for SRAX, Inc. (SRAX). The entire operation centers on the core Sequire SaaS platform, which is the sole operating segment for SRAX, Inc.. This platform is designed to be the premier operating system for public companies, helping them track shareholders and engage investors.

The market SRAX, Inc. is targeting definitely has high growth potential. The strategic pivot, solidified by the merger agreement with DNA Holdings LLC in May 2024, positions Sequire to leverage Web3 technology projects. Furthermore, the related market for private cap table management, which SRAX, Inc. is accelerating its entrance into via the DNA asset acquisition, is anticipated to grow to over $1 Billion by 2030. That's the high growth part of the equation.

However, the current market share is demonstrably low, which is why this unit consumes cash without generating commensurate returns yet. As of November 28, 2025, SRAX, Inc. had a market capitalization of $435.69 thousand. This small valuation, relative to the growth potential of the FinTech/Web3 sector, signals a low current market share. The financial reality from earlier periods underscores the cash consumption; Total Revenues for Q2 2023 were only $1.903 million. To be fair, the company had $0 in cash as of June 30, 2023, and an Accumulated Deficit of $(65,383,000) as of the same date.

The strategy here is clear: heavy investment is needed to capture market share quickly before this unit defaults to a Dog status. The merger with DNA Holdings, which aims to create a public company focused on Web3 technology projects, is the mechanism for this required investment. The goal is to get markets to adopt the Sequire platform aggressively in this new, high-growth Web3 investor relations space.

Here's a snapshot of the financial context supporting the Question Mark classification:

• The sole operating segment is the Sequire SaaS platform.
• The private cap table management market is projected to exceed $1 Billion by 2030.
• Market capitalization as of November 28, 2025, was $435.69 thousand.
• Q2 2023 Total Revenues were $1.903 million.
• The DNA Holdings merger is intended to fuel expansion into Web3 projects.

The need for capital is acute, as evidenced by the prior cash position and the ongoing operational demands of scaling a SaaS platform in a competitive environment. You need to see market share gains translate into significantly higher recurring revenue streams, or the cash drain becomes unsustainable. The path forward requires aggressive capital deployment to build out the Web3 integration and secure a dominant position in that niche.

The Sequire platform previously reached 5 million retail investors in May 2021, showing past success in user acquisition, but that growth needs to be rapidly monetized within the new Web3 focus to justify the investment required post-merger. Finance: draft 13-week cash view by Friday.