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Stock Ratings / Financials / HAPN / financials
BTDR (44) CLSK (41) TRIN (41) PGY (70) ⌘ Pro Terminal →

Happen Inc. (HAPN) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$15.53 -3.18% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $15.41

Happen Inc. (HAPN) carries a Roarable Rating of D- (Sell) with 37/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (37/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →
ROARABLE D- • RED ALERT Cap $1.79B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on HAPN Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is HAPN stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Happen Inc. (NASDAQ: HAPN) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 37/100 at a spot price of $15.53 (-3.18% 1D, market cap $1.79B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 7/20, Executive Insider Alignment 10/20, FRED Macro Regime Fit 5/20, and SEC Balance-Sheet Forensics 10/20. Across 1096 tracked Financials issuers, HAPN ranks #948 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does HAPN compare to BTDR and CLSK in the Financials sector?
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Within the Financials sector (Finance: Consumer Services), HAPN carries a Roarable D- (37/100 RQD), trailing P/E of 13.6x, gross margin of —, and ROIC of 9.0%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D grade (44/100 RQD, P/E N/A, ROIC —, cap $1.82B) and CLSK (CleanSpark Inc.) posts a D- grade (41/100 RQD, P/E 5.8x, ROIC 14.5%, cap $1.97B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while PGY leads on capital efficiency (85.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for HAPN?
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Per HAPN's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001409970), Happen Inc. generated $0 in revenue, $135.7M in net income, and -$2.87B in free cash flow against $11.57B in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $15.41 (-0.76%)🧬 Cannibal Buyback (-0.68% YoY Shares)⚙️ Cash Engine: 5/20 (E) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (37/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-8.1% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • D-
025507510037
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D- · Rk D-
Cash (5)Whales (7)SEC (10)Macro (5)CEO (10)
Each axis scored 0–20
12M PRICE TARGET CONE-9.5% Base Target
$23 Bull$14 Base$11 Bear
📬 FREE HAPN RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for HAPN)Realized 20D OHLCV Swing Band: ±9.5%
Deterministic 5-Pillar Attribution (37/100 Composite)
🔍 WHY HAPN SCORES 37/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (27% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+10/20 pts (27% of score)

SEC Form 4 / 13F Thermometer: 50% Net Buy • Cannibal Buyback (-0.68% YoY Shares)

▼ #1 Drag / Risk Factor: Macro Regime Fit5/20 pts (-15 pt drag)

Macro rate sensitivity & RSI-14 (53.2) create a -15 pt regime headwind

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
29
Grade E$14.82-1.6% Next Q
Q2 (-2Q)
32
Grade E$14.58-1.8% Next Q
Q3 (-1Q)
34
Grade E$14.32+8.4% Next Q
Current
37
Grade D-$15.53-8.1% Hist 90D α
Trajectory: E (29) → D- (37)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a HAPN Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While HAPN currently carries a cautious 37/100 (D-) rating due to Macro Regime Fit (5/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($15.80) and Max Pain ($16.31) forces dealer call-delta covering toward $22.75.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Cannibal Buyback (-0.68% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $HAPN• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “HAPN Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 37%NO 63%Trade / Inspect Odds →
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How HAPN Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)
Revenue$4.00BGross Profit $2.08B (52%)Cost of Sales $1.92BOp Profit $0 (0%)OpEx (R&D/SG&A) $2.08BNet Profit$135.7M (3.4%)Tax/Other $0

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $4.00B
FY24
Rev $4.00B
FY25
Rev $4.00B
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$4.00B52%0%$135.7M-$2.87B9%
FY 2024$4.00B52%0%$51.3M-$2.69B9%
FY 2023$4.00B52%0%$38.9M-$1.14B9%
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring HAPN)

  • ✓Walkthrough of HAPN's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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HAPN // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -6.67%📐 HORIZONTAL RANGE
2026-11-03O $16.04H $16.04L $15.53C $15.53VOL 2.45M
RES: $22.67SUP: $12.92SMA50: $15.80SMA200: $16.90
$21.78$19.60$17.41$15.23$13.05RES $22.67SUP $12.92$15.532026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

HAPN Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 HAPN Butterfly Map → + Track HAPN →
Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)
5.1%/yr Implied 5Y Growth

vs. +6.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on HAPN today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for HAPN. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for HAPN today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (HAPN)

Financials Rank #948 of 1096 ⚔️ BTDR vs HAPN Full Matrix →

1. Head-to-Head Financials Peer Comparison (HAPN vs. BTDR, CLSK, TRIN, PGY)

Industry: Finance: Consumer Services (156 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Happen Inc. (HAPN) ranks #948 by composite RQD confidence (37/100, grade D-) and #443 by equity capitalization ($1.79B). Within this direct 5-issuer industry benchmark cohort, CLSK leads on earnings valuation at 5.8x trailing P/E, while PGY leads on capital efficiency and profitability with 85.0% ROIC and — gross margin. PGY currently holds the highest overall quantitative score in the immediate peer group at 70/100 (B-) compared with HAPN at 37/100 (D-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
HAPN ACTIVE
Happen Inc.
D- 37/100 13.6x — 9.0% -3.18% $1.79B Benchmark Subject
BTDR
Bitdeer Technologies Group (Class A)
D 44/100 — — — -11.48% $1.82B /btdr-vs-hapn →
CLSK
CleanSpark Inc.
D- 41/100 5.8x — 14.5% -6.46% $1.97B /clsk-vs-hapn →
TRIN
Trinity Capital Inc.
D- 41/100 — — — -1.51% $1.61B /trin-vs-hapn →
PGY
Pagaya Technologies Ltd. (Class A)
B- 70/100 21.3x — 85.0% -7.59% $1.60B /pgy-vs-hapn →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001409970

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Happen Inc. (HAPN) reported GAAP revenue of $0 (N/A vs. FY2024 revenue of $0 ) , GAAP net income of $135.7M, operating cash flow of -$2.73B, and free cash flow of -$2.87B (-6.7% YoY). On the balance sheet, HAPN closed FY2025 with $11.57B in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $0 $135.7M -$2.73B -$2.87B $11.57B —
FY2024 (FY) 2024-12-31 $0 $51.3M -$2.63B -$2.69B $10.63B —
FY2023 (FY) 2023-12-31 $0 $38.9M -$1.14B -$1.14B — —

3. HAPN Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is HAPN stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Happen Inc. (NASDAQ: HAPN) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 37/100 at a spot price of $15.53 (-3.18% 1D, market cap $1.79B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 7/20, Executive Insider Alignment 10/20, FRED Macro Regime Fit 5/20, and SEC Balance-Sheet Forensics 10/20. Across 1096 tracked Financials issuers, HAPN ranks #948 in composite RQD confidence.

How does HAPN compare to BTDR and CLSK in the Financials sector?

Within the Financials sector (Finance: Consumer Services), HAPN carries a Roarable D- (37/100 RQD), trailing P/E of 13.6x, gross margin of —, and ROIC of 9.0%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D grade (44/100 RQD, P/E N/A, ROIC —, cap $1.82B) and CLSK (CleanSpark Inc.) posts a D- grade (41/100 RQD, P/E 5.8x, ROIC 14.5%, cap $1.97B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while PGY leads on capital efficiency (85.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for HAPN?

Per HAPN's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001409970), Happen Inc. generated $0 in revenue, $135.7M in net income, and -$2.87B in free cash flow against $11.57B in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is HAPN trading relative to its 50-day, 200-day, and 52-week technical levels?

HAPN last traded at $15.53 (-3.18% on volume of 2,448,183 shares), positioning the stock -1.71% below its 50-day simple moving average ($15.80) and -8.11% below its 200-day simple moving average ($16.90). Across its 52-week range of $13.05 to $21.67, HAPN sits at the 28.8% percentile with a 14-day RSI of 53.2 (NEUTRAL RANGE) and an implied next-earnings move of ±9.5% ($14.05 to $17.01).

HAPN Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is Happen Inc. (HAPN)?

In FY 2025 (10-K), HAPN converted $4.0B of revenue into a 52% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Direct Sub-Reports: HAPN RQD Cockpit HAPN 12M Forecast HAPN Earnings & Move HAPN Dividends & DRIP HAPN Insiders & 13F HAPN Whale Options HAPN Profit Sankey HAPN News & Why
ROARABLE RATING BRIEF • RQD 37/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

HAPN — Happen Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5
As of: 2026-11-02T15:27:32Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, HAPN scores 42 out of 100, a letter grade of D-, with the verdict label "Roarable Sell — Vulnerable Balance Sheet & Flow." Across the five pillars:

  • Fundamental Cash Engine: 5 / 20. Per the Roarable RQD rating, this pillar reflects ROIC of 9% and an FCF yield of 0%. The weak score indicates that, on this framework, the business is not generating free cash flow relative to its valuation, which limits the margin of safety an investor would receive for the current price.
  • Whale / 13F Flow: 11 / 20. Per the Roarable RQD rating, this pillar covers institutional accumulation and options positioning. A mid-range score suggests mixed or moderate institutional signal; the underlying 13F detail is not available in source data.
  • Insider Conviction: 10 / 20. Per the Roarable RQD rating, this pillar covers SEC Form 4 and Congressional PTR cluster flow. A below-midpoint score suggests insider and disclosed-trade conviction is not a strong supporting factor.
  • Macro Regime Fit: 6 / 20. Per the Roarable RQD rating, beta is 1.0 and the score reflects sector sensitivity. A low score indicates limited alignment between the stock's profile and the framework's preferred macro regime.
  • Forensic Balance Sheet: 10 / 20. Per the Roarable RQD rating, Altman Z is 2.5, Piotroski F is 2/9, and Debt/Equity is 0.5. The Piotroski reading of 2/9 is weak, and this pillar is a principal reason the verdict is labeled "Vulnerable Balance Sheet & Flow."

For a prospective investor, the upside case rests on the pillars that are not weak: institutional flow and valuation. Per the Snapshot data, the stock trades at a trailing P/E of 13.6 and a forward P/E of 12.6, which is a valuation tradeoff in its favor relative to earnings, but that discount is offset by zero free-cash-flow yield and a Piotroski score of 2/9. Investors should weigh whether earnings-based valuation is credible against the cash-generation and balance-sheet signals the rating flags. This is an analytical framing, not personalized advice.

Financial Trend

PeriodRevenueOperating IncomeNet IncomeEPSFCFCashDebt
FY 2025$0.0M$0.0M$135.7MN/A$-2867.3MN/AN/A
FY 2024$0.0M$0.0M$51.3MN/A$-2688.5MN/AN/A
FY 2023$0.0M$0.0M$38.9MN/A$-1136.6MN/AN/A

Per the SEC financials, reported net income rose from $38.9M (FY 2023) to $51.3M (FY 2024) and $135.7M (FY 2025), while reported FCF was negative in each period. Per the market data, gross, operating, and net margins are each 0% and FCF yield is 0%. ROIC is 9% per the market data. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 2/9, and Debt/Equity is 0.5; the Piotroski reading points to weak fundamental quality and the balance-sheet posture is characterized in the rating as vulnerable.

Recent Catalysts & News Wire Analysis

Per the recent news section, six items are listed, all tagged to HAPN:

  • Market wire (YELLOW): "Why Happen Bank (HAPN) stock is up today" (Yahoo Finance) and related items from Seeking Alpha, TradingView, and 24/7 Wall St. describe market action and institutional positioning in general terms; the articles' content is not provided.
  • Seeking Alpha "Happen: Back In The Buy Zone" (YELLOW) is a market-wire item; its thesis is not provided in source data.
  • Catalyst (GREEN): "Is Happen (HAPN) Undervalued As Raised Guidance And Buybacks Lift Interest?" (Yahoo Finance) references raised guidance and buybacks. The source data does not provide the guidance figures or buyback size.
  • Catalyst (GREEN): "Happen: Growth Is Strong, But The Discount Looks Justified" (Seeking Alpha) references growth and a discount; no figures are provided.

Per the Butterfly Supply-Chain Graph, the supply_chain value is NONE, there are no butterfly links, and there are no proprietary signals. Risk watch items: the headlines themselves are the only source; the stock's 11.86% single-day change is recorded in the market data and is not explained by the source data.

Open Questions

  • What products and services generate HAPN's revenue, given reported revenue of $0.0M in each period?
  • Why does reported net income rise to $135.7M while FCF remains around -$2.9B, and what drives the gap?
  • What are the cash and debt balances underlying the 0.5 Debt/Equity and 2.5 Altman Z-Score?
  • What were the raised guidance and buyback details referenced in the catalyst headlines?
  • What caused the 11.86% single-day price change, and do any institutional or insider holdings exist to confirm the flow signals?

HAPN Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Happen Inc. (HAPN) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to HAPN Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

HAPN Bull vs. Bear Conversation Board — What's Your Call at $15.53?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON HAPN 🐻 67% BEARISH CONVICTION
1. Pick Your Side on HAPN:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $14.12 (-12.0%)
📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is HAPN (D- • RQD 42/100) a Buy at $16.04?

Welcome to the HAPN (Happen Inc.) Roar Pit. Current RQD Composite is 42/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Finance: Consumer Services. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

FO ForensicBear Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $12.99 (-19.0%)
Spot @ $16.04

Pump the brakes on HAPN — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on HAPN, but look at what you are paying: 13.6x trailing P/E with tightening sector spreads. Unless Happen Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

SI SiliconVal_Bull Verified K Arena Trader 🐂 BULLISH 🎯 Target: $20.37 (+27.0%)
Spot @ $16.04

HAPN cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on HAPN, the market is fixating on short-term headline noise in Finance: Consumer Services and ignoring the balance sheet and cash flow trajectory. At $16.04 (52-wk range $13.05 - $21.67), any beat on forward guidance forces shorts and underweight funds to chase.

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