1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Price Chart
4. Valuation
5. Offer Terms
6. Financial Statements
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
ONFO
Listed on
2022-08-26
Sector
Information Technology
Subsector
IT Services
Offer Price
$5.00
first filed $4.15–$6.00Shares Offered
2.75M
5.11M
$25.6M
53.9%
Implied Upside vs Midpoint
Description
We acquire controlling interests in and actively manage websites that we believe (i) operate in sectors with long-term growth opportunities, (ii) have positive and stable cash flows, (iii) face minimal threats of technological or competitive obsolescence and (iv) can be managed by our existing team or have strong management teams largely in place. Through the acquisition and growth of a diversified group of websites with these characteristics, we believe we offer investors in our shares an opportunity to diversify their own portfolio risk. Our ideal acquisition candidate has the following characteristics: · Proven track record with paid media; · A product, physical or digital with satisfied customers and brand equity; · Upwards growth trajectory; · Growing industry or sector; · Attractive purchase price; · Under-utilized marketing assets or channels; · Passionate, high-value audience or customer base; · Attractive profit margin and cashflow; · Diversified traffic and revenue sources; and · Content or community-based. We currently operate in the following verticals: Pets, Arts and Crafts, B2B SEO Services, Molecular Hydrogen Supplements, Computers, Graphic Design, and People Search. We anticipate a combination of continuous expansion of these verticals and increasing our share within them. Our business model is not based around success in a particular “niche”, but rather focusing on certain verticals and mediums where content has a key part to play (for example, the MightyDeals community, or the Pet vertical publishing arm). All of our wholly owned websites are held either directly by our Company or by our wholly owned subsidiaries: Onfolio LLC, Vital Reaction LLC, Mighty Deals LLC, Onfolio Gaming LLC, Inner Studios LLC and Onfolio Crafts LLC. All of the websites that we partially own and manage are held by various limited liability companies in joint venture structures, whereby our Company owns a certain percentage interest in each of the respective limited liability companies. These include: Onfolio JV I, LLC, Onfolio JV II LLC, Onfolio JV III LLC, Onfolio JV IV LLC, and Onfolio Groupbuild 1 LLC. We also actively manage websites in which we have no ownership interest. --- Onfolio Holdings Inc. was incorporated as a C-corporation under the laws of the State of Delaware on July 20, 2020, and our initial wholly owned operating subsidiary, Onfolio LLC, a Delaware limited liability corporation, was formed on May 14, 2019. We consider our space at 1007 North Orange Street, 4th Floor Wilmington, Delaware 19801 to be our principal executive office. The Company is a remote company, meaning that it does not have a physical office where employees work. Our executive officers and other employees have the option of either telecommuting or working from somewhere else. The Company employs workers in numerous time zones around the world. Our telephone number is (682) 990-6920. Our website address is located at www.onfolio.com.
| Metric | Value | Peer median | Among peers | |
|---|---|---|---|---|
EV / revenue | 13.2x | 29.8x | ||
Gross margin | 40.6% | 29.2% | ||
Operating margin | -108% | -62.2% | ||
Net margin | -105% | -61.0% | ||
Free cash flow margin | -63.1% | -41.8% | ||
Net cash / market cap | 6.7% | 1.8% | ||
Debt / equity | 0.00 | 0.00 | ||
Current ratio | 6.37 | 4.03 | ||
Stock comp / revenue | 42.5% | 18.3% | ||
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||
▼ Priced at $5.00, 1% below the midpoint of the first filed range ($4.15–$6.00, 2022-04-26).
Each filing is plotted ahead of the first trading day on the price chart.
| Filed | Form | Price range | Price | Shares offered | Deal size |
|---|---|---|---|---|---|
| 2022-04-26 | S-1/A | $4.15–$6.00 | — | 2,912,621 | $14.8M |
| 2022-05-13 | S-1/A | $4.25–$6.25 | — | 2,857,143 | $15.0M |
| 2022-06-14 | S-1/A | $4.50–$5.50 | — | 1,700,000 | $8.5M |
| 2022-07-25 | S-1/A | — | $4.50 | 1,605,000 | $7.2M |
| 2022-08-16 | S-1/A | — | $4.50 | 3,130,000 | $14.1M |
| 2022-08-29 | 424B4 | — | $5.00 | 2,753,750 | $13.8M |
Onfolio Holdings, Inc income statement and balance sheet, FY Dec 2022 to FY Dec 2025, as reported in SEC filings.
| Metric | FY Dec 2022after listing | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Revenue | $2.2M | $5.2M | $7.9M | $10.7M |
| Gross profit | $1.2M | $3.2M | $4.5M | $6.4M |
| Operating income | ($4.1M) | ($8.2M) | ($2.5M) | ($2.8M) |
| Net income | ($4.2M) | ($8.1M) | ($1.8M) | ($2.6M) |
| Revenue growth | — | 136% | 50.0% | 36.5% |
| Gross margin | 54.0% | 61.9% | 57.8% | 59.9% |
| Operating margin | −185% | −157% | −31.9% | −25.7% |
| Net margin | −191% | −155% | −22.5% | −24.1% |
| Metric | FY Dec 2022after listing | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Total assets | $15.8M | $6.1M | $9.6M | $11.4M |
| Total liabilities | $3.3M | $789K | $5.2M | $7.5M |
| Total equity | $12.5M | $5.3M | $4.3M | $3.9M |
| Cash & equivalents | $6.7M | $982K | $477K | $2.2M |
Backlog (RPO) $204K, −39.9% vs a year ago (as of Jun 30, 2026, 10-Q)
Fiscal years parsed from inline XBRL in the company's SEC filings. Parentheses indicate negative values; growth compares the same length of period a year earlier.