Spacefy (SPFY.X) AI Stock Analysis

Spacefy

(CNQX:SPFY.X)

Select Model

Rating:46Neutral

Price Target:CAD 0.02▲(50.00% Upside)

Action:reiterated

Date:10/15/26

The score is primarily constrained by very weak financial performance—near-zero revenue, recurring losses, and deeply negative equity—despite some improvement in debt levels and cash burn. Technical indicators are broadly neutral and provide limited support, while valuation is difficult to justify given negative earnings and no dividend yield data.

Positive Factors

Debt ReductionThe substantial reduction in debt lowers fixed financial obligations and may reduce pressure on future cash flows. Although the balance sheet remains distressed, deleveraging improves financial flexibility relative to the prior year and removes part of the company’s solvency burden.

Negative Factors

Near-Zero RevenueNear-zero revenue shows that the platform has not yet demonstrated meaningful commercial traction or sufficient transaction volume. Without sustained top-line growth, Spacefy cannot establish operating scale, fund development internally, or create a durable base for future profitability.

Spacefy (SPFY.X) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 459.13K
Dividend Yield: ―
Average Volume (3M): 18.52K
Price to Earnings (P/E): -7.7
Beta (1Y): 0.60
Revenue Growth: ―
EPS Growth: -85.71%
Country: Canada
Employees: 3
Sector: Communication Services
Sector Strength: 60
Industry: Internet Content & Information

Spacefy Business Overview & Revenue Model

Company Description

Spacefy Inc. operates an online platform that bridges the gap between creative professionals and businesses seeking specific locations for their projects, and property owners offering such venues. This marketplace serves clients both in Canada and in...

Spacefy Financial Statement Overview

Summary

Financial condition is distressed: revenue is effectively near-zero in 2024–2025, losses persist, and shareholders’ equity is deeply negative (a major solvency red flag). Debt reduction and a smaller operating/free cash outflow in 2025 are positives, but they do not offset the lack of revenue traction and ongoing losses.

Income Statement

6Very Negative

Balance Sheet

8Very Negative

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	0	0	0	525	1,173	1,559
Gross Profit	-31.50K	0	-57.00K	-35.48K	-34.83K	-34.44K
EBITDA	-101.50K	-58.22K	-32.21K	-83.80K	-129.43K	-106.47K
Net Income	-58.22K	-58.22K	-33.39K	-83.80K	-129.43K	-106.47K
Balance Sheet
Total Assets	6,270	6,270	12.93K	20.73K	22.81K	52.77K
Cash, Cash Equivalents and Short-Term Investments	3,230	3,230	3,503	8,263	8,021	34.98K
Total Debt	347.27K	347.27K	343.12K	321.57K	267.00K	195.00K
Total Liabilities	723.95K	723.95K	672.39K	646.80K	565.08K	465.61K
Stockholders Equity	-717.68K	-717.68K	-659.46K	-626.07K	-542.27K	-412.84K
Cash Flow
Free Cash Flow	-4,422	-4,422	-25.13K	-54.33K	-98.96K	-59.44K
Operating Cash Flow	-4,422	-4,422	-25.13K	-54.33K	-98.96K	-59.44K
Investing Cash Flow	0	0	0	0	0	0
Financing Cash Flow	4,150	4,150	20.37K	54.57K	72.00K	80.00K

Spacefy Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

TSE:SPFY.X against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
TSE:ZOMD	60Neutral	CAD 37.93M	5.85	16.27%	―	-45.64%	-72.40%
TSE:QYOU	50Neutral	CAD 20.39M	-6.77	-168.15%	―	32.52%	64.42%
TSE:SPFY.X	46Neutral	CAD 227.29K	-7.69	7.99%	―	―	-85.71%
TSE:SPN	45Neutral	CAD 9.61M	-4.82	-31.81%	―	-11.89%	-18.33%
TSE:DGTL.H	26Underperform	CAD 413.50K	-0.35	50.17%	―	―	―

* Communication Services Sector Average

Performance Comparison

TSE:SPFY.X and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:SPFY.X	Spacefy	0.01	0.00	0.00%
TSE:ADYA	Adya Inc	0.38	-0.02	-4.25%
TSE:SPN	Snipp Interactive	0.04	-0.02	-36.36%
TSE:QYOU	QYOU Media, Inc.	0.39	-0.09	-18.75%
TSE:ZOMD	Zoomd Technologies Ltd.	0.38	-2.04	-84.50%
TSE:DGTL.H	Dgtl Holdings, Inc.	0.02	-0.03	-60.00%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 15, 2026

Spacefy AI Stock Analysis