COMP <GO>

HIVE vs GAIN // ALTMAN Z-SCORE & DEBT/EQUITY

HIVE Digital Technologies Ltd. (NASDAQ) VS. Gladstone Investment Corporation Business Development Company (NASDAQ) • 15-METRIC TALLY: HIVE 2 — GAIN 4

■ METRIC PARITY

HIVE — HIVE Digital Technologies Ltd. ROARABLE D- • RQD 41/100

LAST: $1.91 (-7.73%) • MKT CAP: $567.8M

DES <GO> FA <GO> 10-K RED <GO>

balance-sheet

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GAIN — Gladstone Investment Corporation Business Development Company ROARABLE D- • RQD 37/100

LAST: $15.16 (-0.72%) • MKT CAP: $608.1M

DES <GO> FA <GO> 10-K RED <GO>

balance-sheet

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (HIVE VS. GAIN) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	HIVE	GAIN	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-26.50%	31.00%	-57.50	GAIN	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	10.98%	-16.71%	+27.69	HIVE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	-49.80%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	158.30%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	9.40%	-9.40	GAIN	/dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	5/9	2/9	+3.00	HIVE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	39.2	50.6	-11.40	GAIN	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$567.8M	$608.1M	-$40.3M	GAIN	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	HIVE REV	GAIN REV	HIVE GROSS %	GAIN GROSS %	HIVE FCF	GAIN FCF
FY 2025	$297.8M	$0	—	—	$62.3M	-$101.6M
FY 2024	$115.3M	$0	—	—	$16.6M	$16.3M
FY 2023	$114.5M	$0	—	—	$9.6M	-$69.9M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

HIVE // BETA —

GAIN // BETA —