DEVSF on OTC

DevvStream Corp.

DevvStream operates across three strategic domains designed to support the generation and commercialization of environmental assets:.⁴ From its latest annual report

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Last updated Oct 19, 2026.

Overview

$25.8KRevenue, fiscal 2025²

-$12.1MNet income, fiscal 2025²

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TickerDEVSF on OTC¹
IndustryInvestors, NEC¹
HeadquartersSacramento, California¹
Incorporated inAlberta, Canada³
Business address2108 N St., Suite 4254, Suite 2800, Sacramento, Ca 95816³
Filer category, Emerging growth company³
Legal formCorporation

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DevvStream operates across three strategic domains designed to support the generation and commercialization of environmental assets:⁴ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

60.5%Gross margin²

-46783.1%Net margin²

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueOther costs

Cost of revenue39¢$10.2K
Other costs61¢$15.6K

Out of $25.8K in revenue.² The company lost money this year.

Financial statements

Revenue²$25.8K in 2025

Gross profit²$15.6K in 2025

Operating income⁵-$5.2M in 2023+170% since 2022

Net income⁵²-$12.1M in 2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.²

Period ending	2025-07-31	2024-07-31
Revenue	$25.8K	$0
Cost of sales	-$10.2K	$0
Gross profit	$15.6K	$0
Sales and marketing	$1.0M	$481.1K
Depreciation	$953	$1.8K
General and administrative	$964.5K	$461.2K
Professional fees	$8.4M	$5.7M
Salaries and wages	$1.6M	$2.1M
Total operating expenses	-$12.0M	-$8.7M
Interest expense	-$313.8K	-$29.3K
Accretion expense	-$346.4K	-$52.6K
Change in fair value of derivative liabilities	$719.0K	-$845.7K
Change in fair value of warrant liabilities	$1.7M	$0
Change in fair value of mandatory convertible debentures	$70.5K	-$27.5K
Impairment of carbon credits	-$1.2M	$0
Stop-loss provision loss	-$1.1M	$0
Equity loss on investment in associate	-$512.0K	$0
Gain on settlement of debt	$899.0K	$0
Foreign exchange loss	-$31.7K	-$107.6K
Net loss before income taxes	-$12.1M	-$9.8M
Current income tax expense	$0	-$72.5K
Net loss	-$12.1M	-$9.9M
Foreign currency translation	$1.4K	$127.1K
Net loss and comprehensive loss	-$12.1M	-$9.7M
Weighted average number of common shares outstanding - Basic (in shares)	2.5M shares	1.2M shares
Weighted average number of common shares outstanding - Diluted (in shares)	2.5M shares	1.2M shares
Loss per share - Basic (in dollars per share)	-$4.79	-$8.49
Loss per share - Diluted (in dollars per share)	-$4.79	-$8.49

Total assets⁹⁵²$11.9M in 2025−95% since 2021

Total liabilities⁹⁵²$31.5M in 2025+48% since 2021

Shareholders’ equity⁵²-$19.6M in 2025+3% since 2021

Cash⁹⁵²$0 in 2025

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.²

Period ending	2025-07-31	2024-07-31	2023-07-31	2022-10-31
Cash	$3.4M	$21.1K
Trade receivable	$7.4K	$0
GST receivable	$140.6K	$85.7K
Corporate taxes receivable	$171.6K	$0
Deferred financing costs	$138.7K	$0
Prepaid expenses	$175.9K	$35.1K
Deposit on carbon credits purchase	$173.6K	$0
Carbon credits	$83.7K	$0
Total current assets	$4.3M	$141.9K
Restricted cash	$6.4M	$0
Equipment	$0	$953
Deferred financing costs, long-term	$172.9K	$0
Deposit on carbon credits purchase, long-term	$247.8K	$0
Investment in associate	$708.0K	$0
Total assets	$11.9M	$142.9K
Accounts payable and accrued liabilities	$10.7M	$6.1M
Accounts payable and accrued liabilities - related parties	$795.0K	$478.1K
Mandatory convertible debentures	$0	$127.5K
Derivative liabilities	$72.5K	$919.2K		$1.8M
Warrant liabilities	$5.6M	$0
Stock option liabilities	$133.5K	$0
Stop loss provision liabilities	$1.1M	$0
Total current liabilities	$18.8M	$8.5M
Total liabilities	$31.5M	$8.5M
Common shares (No par value, unlimited common shares authorized; 3,541,668 common shares issued and outstanding) (July 31, 2024 - 1,163,871)	$0	$0
Additional paid in capital	$14.2M	$13.3M
Subscription receivable	-$20.0K	$0
Accumulated other comprehensive income	$45.0K	$43.6K
Deficit	-$33.8M	-$21.7M
Total shareholders' deficiency	-$19.6M	-$8.4M	-$54.8K
Total liabilities and shareholders' deficiency	$11.9M	$142.9K
Common stock, no par value (in dollars per share)	$0	$0
Common stock, shares issued (in shares)	3.5M shares	1.2M shares
Common stock, shares outstanding (in shares)	3.5M shares	1.2M shares	1.1M shares

Period ending	2025-07-31	2024-07-31	2023-07-31	2022-10-31
Cash	$3.4M	$21.1K
Trade receivable	$7.4K	$0
GST receivable	$140.6K	$85.7K
Corporate taxes receivable	$171.6K	$0
Deferred financing costs	$138.7K	$0
Prepaid expenses	$175.9K	$35.1K
Deposit on carbon credits purchase	$173.6K	$0
Carbon credits	$83.7K	$0
Total current assets	$4.3M	$141.9K
Restricted cash	$6.4M	$0
Equipment	$0	$953
Deferred financing costs, long-term	$172.9K	$0
Deposit on carbon credits purchase, long-term	$247.8K	$0
Investment in associate	$708.0K	$0
Total assets	$11.9M	$142.9K
Accounts payable and accrued liabilities	$10.7M	$6.1M
Accounts payable and accrued liabilities - related parties	$795.0K	$478.1K
Mandatory convertible debentures	$0	$127.5K
Derivative liabilities	$72.5K	$919.2K		$1.8M
Warrant liabilities	$5.6M	$0
Stock option liabilities	$133.5K	$0
Stop loss provision liabilities	$1.1M	$0
Total current liabilities	$18.8M	$8.5M
Total liabilities	$31.5M	$8.5M
Common shares (No par value, unlimited common shares authorized; 3,541,668 common shares issued and outstanding) (July 31, 2024 - 1,163,871)	$0	$0
Additional paid in capital	$14.2M	$13.3M
Subscription receivable	-$20.0K	$0
Accumulated other comprehensive income	$45.0K	$43.6K
Deficit	-$33.8M	-$21.7M
Total shareholders' deficiency	-$19.6M	-$8.4M	-$54.8K
Total liabilities and shareholders' deficiency	$11.9M	$142.9K
Common stock, no par value (in dollars per share)	$0	$0
Common stock, shares issued (in shares)	3.5M shares	1.2M shares
Common stock, shares outstanding (in shares)	3.5M shares	1.2M shares	1.1M shares

Cash from operations⁵²-$6.4M in 2025+565% since 2022

Share buybacks⁵$179.9M in 2023

Every line of the cash flow as filed: the last 2 fiscal years, latest first.²

Period ending	2025-07-31	2024-07-31
Net loss for the year	-$12.1M	-$9.9M
Depreciation	$953	$1.8K
Share based compensation	$583.0K	$1.3M
Change in fair value of derivative liabilities	-$719.0K	$845.7K
Change in fair value of mandatory convertible debentures	-$70.5K	$27.5K
Change in fair value of warrant liabilities	-$1.7M	$0
Change in fair value of stock option liabilities	-$196.6K	$0
Gain on settlement of accounts payable	-$899.0K	$0
Loss on investment in associate	$512.0K	$0
Impairment of carbon credits	$1.2M	$0
Stop-loss provision loss	$1.1M	$0
Non-cash general and administrative	$0	$50.0K
Accrued interest	$305.6K	$19.0K
Accretion expense	$346.4K	$52.6K
Trade receivable	-$7.4K	$0
GST receivable	-$55.0K	$0
Corporate taxes receivables	-$171.6K	-$39.1K
Carbon credits	-$143.2K	$0
Prepaid expenses	-$140.8K	$267.3K
Accounts payable and accrued liabilities	$5.7M	$5.8M
Net cash used in operating activities	-$6.4M	-$1.5M
Cash assumed on RTO	$1.7M	$0
Net cash provided by investing activity	$1.7M	$0
Proceeds from convertible debentures	$9.4M	$883.5K
Proceeds from warrant exercise	$86.2K	$176.1K
Proceeds from issuance of mandatory convertible debentures	$0	$50.0K
Proceeds from PIPE financing	$2.2M	$0
Proceeds from ELOC drawdown	$2.9M	$0
Net cash provided by financing activities	$14.6M	$1.1M
Effect of exchange rate changes on cash	$1.4K	-$29.5K
Net increase (decrease) in cash	$9.8M	-$468.9K
Taxes paid	$0	$0
Interest paid	$0	$0
Repayment of convertible debentures from ELOC drawdown proceeds	$448.2K	$0
Fair value of warrants exercised	$389.7K	$0
Fair value of securities issued for the RTO (Note 4)	$3.1M	$0
Fair value of securities issued for settlement of accounts payable	$10.9M	$0
Fair value of securities issued for services	$585.2K	$0
Fair value of securities issued for carbon credits	$2.0M	$0
Fair value of securities issued for the acquisition of interest in associate	$1.2M	$0
Fair value of securities issued for ELOC commitment	$363.3K	$0

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Leadership

Who has led DevvStream Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chief financial officer

Chief operating officer

Chris Merkel2024–now

2025

Chief executive officerSunny Trinh Nov 7, 2024 to now¹⁰
Chief executive officerCarl Stanton Oct 27, 2021 to Oct 27, 2021¹¹
Chief financial officerDavid Goertz Nov 7, 2024 to now¹²
Chief financial officerErnest D. Lyles Oct 27, 2021 to Oct 27, 2021¹³
Chief operating officerChris Merkel Nov 7, 2024 to now¹⁴

Board members and other officers (13)

Chief Revenue OfficerBryan Went Nov 7, 2024 to now¹⁵
Chief Investment OfficerWray T. Thorn Nov 1, 2021 to Nov 1, 2021¹⁶
Board memberJamila Piracci Nov 7, 2024 to now¹⁷
Board memberMichael Max Buhler Nov 7, 2024 to now¹⁸
Board memberRay Quintana Nov 7, 2024 to now¹⁹
Board memberStephen Kukucha Nov 7, 2024 to now²⁰
Board memberThomas G. Anderson Nov 7, 2024 to now²¹
Board memberCarl Stanton Nov 15, 2024 to now²²
Board memberWray T. Thorn Nov 15, 2024 to now²³
Board memberD'Angela Simms Jul 21, 2022 to Jul 21, 2022²⁴
Board memberDawanna Williams Oct 27, 2021 to Oct 27, 2021²⁵
Board memberHoward L. Sanders Oct 27, 2021 to Oct 27, 2021²⁶
Board memberTroy L. Carter Nov 10, 2021 to Nov 10, 2021²⁷

Former names

Focus Impact Acquisition Corp.Apr 23, 2021 to Nov 4, 2024³

Timeline

Nov 7, 2024New chief executive Sunny Trinh becomes CEO¹⁰
Oct 27, 2021New chief executive Carl Stanton becomes CEO¹¹

Filings

351 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 68 major events, 43 insider forms, 25 large holders, 2 private raises, 193 other. The latest 20:

Oct 15, 2026SCHEDULE 13G EDGAR
Oct 15, 20263 EDGAR
Sep 24, 20268-K EDGAR
Sep 18, 2026RW EDGAR
Sep 17, 20268-K EDGAR
Sep 14, 2026DEFA14A EDGAR
Sep 14, 2026DEFA14A EDGAR
Sep 14, 20268-K EDGAR
Sep 10, 2026DEFA14A EDGAR
Sep 10, 20268-K EDGAR
Aug 3, 2026DEFM14A PROXY STATEMENT EDGAR
Jul 9, 20268-K EDGAR
Jul 7, 20268-K EDGAR
Jun 25, 2026SCHEDULE 13G/A EDGAR
Jun 23, 20268-K EDGAR
Jun 22, 2026SCHEDULE 13G EDGAR
Jun 15, 2026SCHEDULE 13G/A EDGAR
Jun 15, 2026SCHEDULE 13G EDGAR
Jun 15, 202610-Q EDGAR
Jun 8, 2026SCHEDULE 13G/A EDGAR

The 351 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Helena Global Investment Opportunities 1 Ltd.SCHEDULE 13G, 9 filings Mar 17, 2026 to Oct 15, 2026²⁸
Focus Impact Partners, LLCSCHEDULE 13G, 1 filing Apr 16, 2026²⁹
Focus Impact Sponsor, LLCSCHEDULE 13G/A, 6 filings Feb 11, 2022 to Apr 2, 2026³⁰
WOLVERINE ASSET MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Oct 10, 2025 to Feb 2, 2026³¹
Polar Asset Management Partners Inc.SCHEDULE 13G/A, 2 filings Nov 14, 2024 to Feb 14, 2025³²
Crestmont Investments LLCSC 13G, 1 filing Nov 14, 2024³³
Saba Capital Management, L.P.SC 13G/A, 2 filings Jun 10, 2022 to Feb 14, 2023³⁴
Sculptor Capital LPSC 13G/A, 2 filings Jan 28, 2022 to Feb 14, 2023³⁵

Money raised

Private offerings the company reported to the SEC on Form D.

Dec 3, 2025Raised $2 million in a private offering of equity Form D: 1 investor so far Form D
Jul 18, 2025Raised $10 million in a private offering of debt Form D: $300 million offered in all Form D

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARDevvStream Corp. filings on SEC EDGAR
2
SEC EDGARDevvStream Corp. 10-K for fiscal 2025
3
SEC EDGARDevvStream Corp. filings on SEC EDGAR
4
SEC EDGARDevvStream Corp. annual report, Item 1 (Business)
5
SEC EDGARDevvStream Corp. 10-K for fiscal 2022
6
SEC EDGARDevvStream Corp. 10-Q for fiscal 2025
7
SEC EDGARDevvStream Corp. 10-Q for fiscal 2026
8
SEC EDGARDevvStream Corp. 10-Q for fiscal 2026
9
SEC EDGARDevvStream Corp. 10-K for fiscal 2021
10
SEC EDGARSunny Trinh, Chief executive officer
11
SEC EDGARCarl Stanton, Chief executive officer
12
SEC EDGARDavid Goertz, Chief financial officer
13
SEC EDGARErnest D. Lyles, Chief financial officer
14
SEC EDGARChris Merkel, Chief operating officer
15
SEC EDGARBryan Went, Chief Revenue Officer
16
SEC EDGARWray T. Thorn, Chief Investment Officer
17
SEC EDGARJamila Piracci, Board member
18
SEC EDGARMichael Max Buhler, Board member
19
SEC EDGARRay Quintana, Board member
20
SEC EDGARStephen Kukucha, Board member
21
SEC EDGARThomas G. Anderson, Board member
22
SEC EDGARCarl Stanton, Board member
23
SEC EDGARWray T. Thorn, Board member
24
SEC EDGARD'Angela Simms, Board member
25
SEC EDGARDawanna Williams, Board member
26
SEC EDGARHoward L. Sanders, Board member
27
SEC EDGARTroy L. Carter, Board member
28
SEC EDGARHelena Global Investment Opportunities 1 Ltd. SCHEDULE 13G on DevvStream Corp.
29
SEC EDGARFocus Impact Partners, LLC SCHEDULE 13G on DevvStream Corp.
30
SEC EDGARFocus Impact Sponsor, LLC SCHEDULE 13G/A on DevvStream Corp.
31
SEC EDGARWOLVERINE ASSET MANAGEMENT LLC SCHEDULE 13G/A on DevvStream Corp.
32
SEC EDGARPolar Asset Management Partners Inc. SCHEDULE 13G/A on DevvStream Corp.
33
SEC EDGARCrestmont Investments LLC SC 13G on DevvStream Corp.
34
SEC EDGARSaba Capital Management, L.P. SC 13G/A on DevvStream Corp.
35
SEC EDGARSculptor Capital LP SC 13G/A on DevvStream Corp.