Upexi Inc. (UPXI) — RQD Stock Rating Cockpit

The Roarable RQD rating assigns UPXI a score of 33 out of 100 with a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid" (per the Roarable RQD rating). Across the five pillars, the Fundamental Cash Engine scores 3/20, reflecting ROIC of -20.3% and an FCF yield of -12.19%, which indicates the business is currently consuming rather than generating cash relative to its market value. Whale 13F Flow scores 12/20 for institutional accumulation and options positioning, the strongest pillar, suggesting some institutional interest despite weak fundamentals. Insider Conviction scores 3/20 based on SEC Form 4 and Congressional PTR cluster flow, indicating limited insider signaling of confidence. Macro Regime Fit scores 10/20 with a Beta of 1.0 and sector sensitivity noted. Forensic Balance Sheet scores 5/20, reflecting an Altman Z-Score of 2.5, a Piotroski F-Score of 3/9, and a Debt/Equity of 0.5. For a prospective investor evaluating the stock today, the upside drivers are limited to the institutional flow signal; the valuation tradeoff is that the share price of $0.76 sits against negative returns on capital and cash flow, and the forensic indicators point to elevated risk. The rating's verdict is to avoid, and the investor implication is that any thesis must rest on a turnaround the current source data does not document.

Per the SEC financials, the company reported operating losses across all three periods, with the operating margin at -60% and net margin at -60% (per the market data). The gross margin is listed as 0%. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 3/9, and Debt/Equity is 0.5; ROIC is -20.3%. Cash and debt balances by period are reported as N/A in the SEC financials.

Per the recent news and catalysts section, five items were logged, each sourced to aggregators (Simply Wall St, Stock Titan, TradingView, Moomoo, MarketBeat) and one unattributed site, all flagged YELLOW under the MARKET WIRE label. Headlines reference a stock analysis, a material event report, estimates coverage, a company profile, and a price move to $1.06 described as testing the upper end of a recent range. One item describes a Solana treasury strategy with staking income and locked token purchases. The summaries are generic and do not disclose the substance of the "material event." Risk watch items include the sharp contrast between the $0.76 price and the 52-week high of $4.41, and the -7.32% change in the market data. The Butterfly Supply-Chain Graph contains no supply-chain links and no proprietary signals.

• What does the "material event" referenced in the news wire disclose, and what is its financial impact?
• What explains the drop in reported revenue from $36.4M in FY 2023 to $1.0M in FY 2025, and is the business model changing?
• What are the cash and debt balances behind the Debt/Equity of 0.5 and the Altman Z-Score of 2.5?
• How does the Solana treasury strategy and locked token activity relate to reported operating results?
• What are the EPS and valuation multiples (P/E, EV/EBITDA), which the source data leaves unavailable?