Forensic Analysis · Technology / Software · as of Sep 29, 2026
Brightline Interactive, Inc. (BTLN)
A forensic read on Brightline Interactive, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-2.5
Distress distance
Clean
Earnings quality
4
Forensic signals
-15.1%
ROE
19.6%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Brightline Interactive, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -2.5, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-21.4%
FY2025
Return on invested capital.Return on invested capital is -21.4% in the latest fiscal year and rising across FY2023–FY2025 from -216.0%. After-tax operating profit was ($23M) in FY2023 and ($2M) in FY2025, with operating income at -213.7% of revenue in FY2023, -75.1% in FY2024 and -26.0% in FY2025. The capital base behind it went from $11M in FY2023 to $10M in FY2025 (-4%), while the revenue it carried went from $13M to $11M. FY2023's operating profit carried a $15M asset write-down and a $13M goodwill write-off that alone took about 211.6 points off that year's return, so more than the whole 194.6-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more.
+18.7%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +41% over the last 2 years to FY2025 (+18.7%/yr). The count is growing — 13.9M shares in FY2023, 19.6M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~18.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~29%.
9% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 9% of revenue in FY2025 — about $0.05 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 18.7% a year across FY2023–FY2025, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
$13M
FY2023–FY2024
Key fundamentals
Latest Revenue$10.5M
Revenue Growth YoY+19.6%
Revenue CAGR (2yr)-11.6%
Net Margin-24.2%
Free Cash Flow-$316,282.00
Return on Equity-15.1%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Brightline Interactive, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 29, 2026. Forensic signals flag probability, not certainty.
Brightline Interactive, Inc. (BTLN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Goodwill impairments.Took $13M of goodwill writedowns across 2 years (FY2023 ($13M), FY2024 ($379,038)). Writedowns mean past acquisitions underperformed what was paid for them.