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ZeroStack Corp. (formerly Flora Growth Corp.) was incorporated as Flora Growth Corp. on March 13, 2019, under the laws of the Province of Ontario. On January 29, 2026, the Company changed its corporate name from "Flora Growth Corp." to "ZeroStack Corp." and changed its Nasdaq ticker from "FLGC" to "ZSTK".
The business is unprofitable at the operating level (-433.49% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 0.5% YoY. Margins deteriorated 408.6pp alongside, both lines moving the wrong way.
ROIC dropped from -72.37% to -182.50%, capital efficiency is deteriorating. Negative free cash flow of -$9M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$36M
▼ -0.5% YoY
Net Income (TTM)
-$156M
▼ -652.7% YoY
Op. Margin
-597.73%
▼ -408.6pp YoY
ROIC
-280.60%
▼ -110.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$10M
▼ -70.4% YoY
Op. Cash Flow (TTM)
-$10M
▼ -72.4% YoY
Net Debt
$2M
Cash & Equiv.
$2M
3Y CAGR: +2.2%
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