Beeline Holdings, Inc.
- Open
- 1.08
- Day high
- 1.12
- Day low
- 1.08
- Prev close
- 1.07
- Volume
- 38K
- Mkt cap
- $35M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 3.4
- Yield
- —
- Per share
- —
- ▲Insiders net buying $361K over the last 3 months (6 open-market buys, 0 sales)
- 🏛Institutions reducing (13F)
Beeline Holdings, Inc. (BLNE) is a Consumer Defensive company listed on NASDAQ. The stock is down 36% over the past year. Over the trailing 3 months, insiders filed 6 open-market buys and 0 sales (SEC Form 4).
Beeline Holdings, Inc. (BLNE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BLNE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 13, 2026 | $-0.05 | $-0.13 | -160.0% | $3M | -55.7% |
| May 14, 2026 | $-0.10 | $-0.18 | -80.0% | $3M | -36.1% |
| Aug 14, 2025 | $-0.47 | $-0.41 | +12.8% | $2M | -22.5% |
| May 20, 2025 | $-5.50 | $-6.14 | -11.6% | $2M | -55.5% |
| Nov 14, 2024 | $-6.60 | $-0.41 | +93.8% | $760000 | -75.2% |
| Aug 14, 2024 | $-0.82 | $-0.87 | -6.1% | $3M | +14.6% |
| Apr 30, 2024 | $-9.00 | $-1.25 | +86.1% | $2M | -45.6% |
| Aug 14, 2023 | $-12.50 | $-1.92 | +84.6% | $3M | -57.5% |
| May 12, 2023 | $-24.00 | $-1.95 | +91.9% | $3M | -35.3% |
| Mar 31, 2023 | $-3.40 | $-12.56 | -269.3% | $2M | -36.9% |
| Nov 14, 2022 | — | $-4.55 | — | $3M | — |
| Aug 11, 2022 | — | $-2.39 | — | $5M | — |
BLNE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 1, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 96,000 | $1.03 |
| Aug 31, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 5,000 | $1.06 |
| Aug 31, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 245,000 | $0.98 |
| Aug 31, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 2,500 | $1.02 |
| Aug 31, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 15,000 | $0.98 |
| Aug 14, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 0 | — |
| Jul 24, 2026 | Caltabiano Josephdirector | Grant | 8,947 | — |
| Jul 2, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 31,111 | $2.25 |
| Jun 1, 2026 | Romano Stephen Michaeldirector | Grant | 10,000 | — |
| Jun 1, 2026 | Francis Knuettel IIdirector | Grant | 10,000 | — |
| Jun 1, 2026 | Romano Stephen Michaeldirector | Grant | 30,000 | — |
| Jun 1, 2026 | Freedman Joseph Daviddirector | Grant | 10,000 | — |
| Jun 1, 2026 | Caltabiano Josephdirector | Grant | 10,000 | — |
| May 19, 2026 | Milton Tiffanyofficer: Chief Accounting Officer | Buy | 10,000 | $1.02 |
| May 19, 2026 | Liuzza Nicholas Reyland JRdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 51,525 | $1.04 |
Source: BLNE SEC Form 4 filings, latest Sep 1, 2026. For informational purposes only — not investment advice.
See the full BLNE insider & 13F page →Beeline Holdings, Inc. company profile
Overview
Eastside Distilling, Inc. (NASDAQ:BLNE) is a Portland, Oregon-based company founded in 2008 that has undergone significant strategic transformation. Originally established as a craft spirits manufacturer, the company has evolved into a diversified business operating in both alcoholic beverages and digital printing services. In 2024, the company made a dramatic pivot by acquiring Beeline Financial Holdings, a digital mortgage technology company, signaling a major shift away from its traditional beverage-focused operations toward financial technology services.
Business
Eastside Distilling operates through multiple business segments that have evolved significantly over recent years. The company's operations can be divided into three main areas: Spirits Division represents the company's original core business, manufacturing and marketing various alcoholic beverages. The spirits portfolio includes Burnside Whiskey, Portland Potato Vodka, Hue-Hue Coffee Rum, and Azuñia Tequila brands. The company also produces gin and ready-to-drink cocktail products. These products are sold on a wholesale basis to distributors across the United States. The spirits industry involves the production, aging, blending, and bottling of distilled alcoholic beverages, which requires significant upfront capital investment in inventory that must age before sale. Craft Canning and Bottling Services has emerged as a significant growth driver for the company. This segment provides digital can printing and mobile canning services to craft beer and cider producers. Digital can printing allows beverage companies to print custom designs directly onto aluminum cans in smaller batches, which is particularly valuable for craft breweries that need flexibility in their packaging without the high minimum orders required by traditional can suppliers. The company has invested in high-capacity digital printing equipment capable of producing up to 25 million cans annually per machine. Mortgage Technology Services represents the company's newest and most significant strategic pivot. Through the 2024 acquisition of Beeline Financial Holdings, Eastside now operates in the digital mortgage origination technology sector. This business provides technology solutions to mortgage lenders to streamline and digitize the loan origination process. The U.S. mortgage origination market exceeds $1.5 trillion annually, representing a vastly larger addressable market than the company's traditional beverage operations. Based on recent financial data, the craft canning and bottling segment has become the largest revenue generator, contributing approximately 60-70% of total revenues, while spirits contribute roughly 20-30%, with the mortgage technology business being newly acquired and not yet fully integrated into reported segments.
Revenue model
Eastside Distilling's revenue model varies significantly across its three business segments, each with distinct customer bases and payment structures. The Spirits Division generates revenue through wholesale product sales to distributors, who then sell to retailers and ultimately consumers. The company receives payment upon delivery to distributors, but faces the challenge of long inventory cycles, as spirits often require aging before sale. Customers in this segment are primarily beverage distributors and wholesalers. Margins in this business are affected by commodity costs (particularly agave prices for tequila production), competition from larger spirits companies, and the company's limited scale compared to major industry players. The Craft Canning and Bottling Services operates on a service fee model, charging craft breweries and cider makers for digital printing services and mobile canning. Revenue is generated per can printed or per canning session, with payment typically received upon service completion. This segment benefits from the growing craft beer industry and the trend toward smaller, more frequent production runs that require flexible packaging solutions. Margins are influenced by equipment utilization rates, raw material costs for cans and inks, and the company's ability to minimize waste and downtime during production. The Mortgage Technology Services segment, acquired through Beeline Financial Holdings, likely operates on a software-as-a-service model typical of financial technology companies. This would involve recurring subscription fees from mortgage lenders, potentially supplemented by transaction-based pricing for loan processing services. The customer base consists of mortgage lenders, banks, and credit unions seeking to digitize their loan origination processes. Key factors that impact profitability include equipment utilization rates in the canning business, commodity price fluctuations for spirits production, competitive pressure from larger beverage companies, the cyclical nature of the mortgage industry, and the company's ability to achieve operational scale across its diverse business segments. The company's small size relative to competitors in each market creates both challenges in achieving economies of scale and opportunities for niche market focus.
Competitive moat
Eastside Distilling operates in highly competitive markets with limited sustainable competitive advantages. The company's moat is relatively weak across all business segments. In the spirits business, the company faces intense competition from large, well-capitalized beverage companies with established distribution networks and brand recognition. While craft spirits have grown in popularity, Eastside's brands lack the marketing resources and distribution reach of major players. The company's regional focus in the Pacific Northwest provides some local market advantages, but this also limits growth potential. Barriers to entry in spirits production are moderate, primarily consisting of regulatory requirements and initial capital investment, but these are not prohibitive for well-funded competitors. The craft canning and bottling services segment offers somewhat stronger positioning due to the specialized equipment and technical expertise required for digital can printing. However, this advantage is not insurmountable, as other companies can invest in similar equipment and develop comparable capabilities. The company's early entry into digital can printing provides some first-mover advantages, but the technology itself is not proprietary. Geographic proximity to customers offers convenience benefits, but this advantage is limited to the company's immediate service area. The newly acquired mortgage technology business operates in a crowded fintech space with numerous competitors ranging from established players to well-funded startups. The mortgage technology sector is characterized by rapid innovation and significant capital requirements for product development and customer acquisition. Without more detailed information about Beeline's specific technology and market position, it's difficult to assess any sustainable competitive advantages. Overall, Eastside Distilling's competitive position is vulnerable across all segments. The company's diversification strategy may provide some risk mitigation, but it also spreads management attention and capital across multiple challenging markets. The lack of dominant market positions or proprietary technology suggests that the company must compete primarily on execution, cost management, and customer service rather than sustainable competitive advantages.
Risks & safety
Eastside Distilling presents significant financial risk with a very thin margin of safety: • Liquidity Crisis: Current ratio of 0.62 indicates the company cannot meet short-term obligations with current assets. With only $391,000 in cash against $16.2 million in current liabilities, the company faces immediate solvency concerns. • Negative Cash Generation: Operating cash flow of -$3.2 million annually and free cash flow of -$3.3 million demonstrate the company is burning cash at an unsustainable rate. • Debt Burden: While debt-to-equity ratio of 0.30 appears manageable, the company's negative equity and poor cash generation make debt service challenging. • Valuation Metrics: Trading at 0.43x book value might appear attractive, but negative earnings and EBITDA make traditional valuation metrics unreliable. The company's enterprise value reflects distressed pricing. • Asset Coverage: Graham net-net working capital per share is deeply negative at -$5.25, indicating the company would not cover liquidation value. • Business Transformation Risk: The recent pivot to mortgage technology adds execution risk during a period when the company cannot afford operational missteps. The margin of safety is essentially non-existent, with the company appearing to be in financial distress requiring either significant operational improvements or additional capital infusion to remain viable.
Recent development
Eastside Distilling has undergone dramatic strategic transformation over the past few years, moving from a traditional craft spirits company to a diversified operation spanning beverages, digital printing services, and financial technology. The most significant development was the 2024 acquisition of Beeline Financial Holdings, a digital mortgage technology company. This acquisition represents a complete strategic pivot away from the company's beverage-focused origins toward the financial technology sector. Management has indicated that this move positions the company to capitalize on the massive U.S. mortgage origination market, which exceeds $1.5 trillion annually, particularly as interest rates potentially decline and mortgage activity increases. In the craft canning and bottling segment, the company has achieved substantial growth, expanding from printing 4.8 million cans in 2022 to 14.1 million cans in 2023. The company has invested in high-capacity digital printing equipment and hired business development personnel to expand its customer base across the West Coast. Management has indicated plans to potentially double production capacity by adding a second printing machine, reflecting confidence in this segment's growth prospects. The spirits division has undergone significant restructuring efforts aimed at achieving profitability. The company has reduced bulk bourbon inventory, focused on core regional markets, and implemented cost reduction measures. While spirits sales have declined, the division achieved positive EBITDA before corporate expenses in Q3 2024, marking a significant operational improvement. However, the company has also initiated a strategic review that includes considering the potential sale of its craft and spirits brands. Financial restructuring has been another key focus, with management working to reduce debt levels and improve NASDAQ listing compliance. The company has raised capital through direct equity placements and closed debt facilities to support working capital needs. These efforts reflect the company's ongoing financial challenges and the need to stabilize its balance sheet while executing its strategic transformation.
BLNE company profile · for informational purposes only — not investment advice.
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