Realloys
ALOY on Nasdaq. Blackbox sells trading analytics and social media tools to stock and options traders. Market value $559m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
Read the warning sign in its own filings
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 20 of 100. Price score: 16 of 100. Our list needs 70 on quality and 60 on price.
$8.12 a share, 35% above its 1-year low
Over the past year the price has ranged from $6.00 to $26.90.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $6m | $5m | $3m | $3m | $2m |
| Operating margin | |||||
| Operating margin | -37.3% | -91.7% | -170.6% | -128.9% | -165.7% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.00bn | 0.00bn | 0.00bn | 0.07bn |
Health checks
- Free cash flow positive0 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)3 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsShrinking, 6.3% a year
- Buying back its own sharesNo, 423% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $804,000 last quarter, up 83% on a year ago.
- A loss of $37 million, compared with a loss of $2 million a year ago.
- 51% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $647,842 |
| December 2024 | $584,972 |
| March 2025 | $0 |
| June 2025 | $440,000 |
| September 2025 | $696,995 |
| December 2025 | $628,377 |
| March 2026 | $706,000 |
| June 2026 | $804,000 |
| Quarter to | Amount |
|---|---|
| September 2024 | -$780,833 |
| December 2024 | -$948,740 |
| March 2025 | -$2m |
| June 2025 | -$2m |
| September 2025 | -$720,607 |
| December 2025 | -$2m |
| March 2026 | -$107m |
| June 2026 | -$37m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 23 February 2026
- Next quarterly (estimated, 10-Q)
- 12 November 2026
Who owns it
None of the long-term investors we follow own it. 106 funds in all.
Largest holders overall
- BlackRock$61mNew
- Citadel Advisors$58mAdded
- State Street$39mAdded
- Vanguard Capital Management$34mAdded
- Davidson Kempner Capital Management LP$25mAdded
- Geode Capital Management$19mAdded
- Ghisallo Capital Management$10mNew
- Vanguard Portfolio Management$6mNew
- Northern Trust$6mNew
- UBS Group AG$6mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Andrew ShermanPassive investorat least 9.4%(filed with 2 related holders)Since 24 February 2026
- BlackRock, Inc.Passive investor6.2%Since 30 June 2026
- Kenneth GriffinPassive investorat least 6.1%(filed with 6 related holders)Since 30 June 2026
- Quadrifoglio Holdings LLCat least 4.8%(filed with 2 related holders)Since 23 May 2025
What they said
The Reporting Persons sold an aggregate of 114,613 Shares between May 13, 2025, and June 6, 2025.
Read the filing - Five Narrow Lane LPPassive investorSold down below 5%Since 26 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Andrew Sherman Passive investor | at least 9.4% (filed with 2 related holders) | 24 February 2026 | |
BlackRock, Inc. Passive investor | 6.2% | 30 June 2026 | |
Kenneth Griffin Passive investor | at least 6.1% (filed with 6 related holders) | 30 June 2026 | |
Quadrifoglio Holdings LLC | at least 4.8% (filed with 2 related holders) | 23 May 2025 | What they saidThe Reporting Persons sold an aggregate of 114,613 Shares between May 13, 2025, and June 6, 2025. Read the filing |
Five Narrow Lane LP Passive investor | Sold down below 5% | 26 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $385,966.
- WINSPEAR ROBERT LChief Financial Officer, DirectorSold
- Date
- 26 February 2026
- Shares
- 17,000
- Price
- $15.09
- Value
- $256,530
- Smith Charles BrandonChief Technology OfficerSold
- Date
- 23 October 2025
- Shares
- 9,167
- Price
- $9.08
- Value
- $83,236
- Reid Charles KellerDirectorSold
- Date
- 21 October 2025
- Shares
- 5,000
- Price
- $9.24
- Value
- $46,200
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 26 February 2026 | WINSPEAR ROBERT L Chief Financial Officer, Director | Sold | 17,000 | $15.09 | $256,530 |
| 23 October 2025 | Smith Charles Brandon Chief Technology Officer | Sold | 9,167 | $9.08 | $83,236 |
| 21 October 2025 | Reid Charles Keller Director | Sold | 5,000 | $9.24 | $46,200 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Realloys’ filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 23 Feb 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.
Weak checks on its own accounts
SeriousThe company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.
“Based on this evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2026, due to the material weaknesses in internal control over financial reporting described below.”
Show the full paragraph
As of June 30, 2026, under the supervision and with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, management evaluated the effectiveness of the Company’s disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2026, due to the material weaknesses in internal control over financial reporting described below.
From the 10-Q filed 13 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On April 17, 2026, REalloys Inc. (the “Company”) dismissed Victor Mokuolo CPA PLLC (“VMCPA”) as its independent registered public accounting firm.”
From an 8-K filed 20 April 2026: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 6.3% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.