Stack Capital Group (STCK) Q1 2025 earnings summary

Executive summary

• Book Value per Share (BVPS) was $12.06 as of March 31, 2025, down from $12.29 at December 31, 2024.

• CoreWeave, a portfolio company, went public on March 28, 2025; Stack invested an additional US$2.2 million prior to IPO.

• Portfolio includes investments in SpaceX, Locus Robotics, Canva, Omio, Hopper, Newfront Insurance, Prove Identity, CoreWeave, Bolt Financial, Shield AI, and Varo Money.

Financial highlights

• Book Value as of March 31, 2025, was $129.7 million.

• CoreWeave investment was written down by US$2.4 million to reflect its March 31 closing price, but share price rose 45% post-quarter, potentially increasing BVPS by $0.45 since quarter end.

• Shield AI's valuation increased after raising US$240 million at a US$5.3 billion valuation.

Outlook and guidance

• Anticipates further upside in CoreWeave's share price as it reports initial results and market sentiment improves.

• Omio plans to expand its travel offerings in Southeast Asia, aiming to be a comprehensive provider by Q4-2025.