Farmhouse Inc (FMHS) is a Nevada-incorporated company that historically engaged in technology development and brand licensing, and has more recently established a subsidiary, FT, to explore digital asset-related strategies. The company generates revenue primarily through intellectual property licensing arrangements associated with branded content, recognized under ASC 606 using the sales-based royalty exception. Licensing revenue was $623 for the year ended December 31, 2025, and $4,154 for the year ended December 31, 2024, amounts the company itself characterizes as not material to its financial condition. As of December 31, 2025, the company held $14,188 in cash, carried a working capital deficit of $2,215,329, and its auditors have raised substantial doubt about its ability to continue as a going concern. Capital has been sourced through convertible notes, related-party advances, and equity sales. CEO Evan Horowitz signed the 10-K filed April 17, 2026, on behalf of the company, which is headquartered in San Francisco, California.

Revenue model

Sales-based royalty licensing: revenue recognized when a licensee's underlying sales occur, per ASC 606. Licensing revenue totaled $623 (FY2025) and $4,154 (FY2024). No other material revenue streams are disclosed in the filing.

Products and services

Intellectual property licensing associated with branded content. A subsidiary, FT, is in exploratory discussions regarding digital asset strategies as of the filing date (April 17, 2026); no binding agreements have been established.

Customers and end markets

The filing does not identify specific customers or end markets by name. Licensing revenue is de minimis and customer concentration is not disclosed.

Value-chain role

IP licensor: the company holds branded content intellectual property and licenses it to third-party licensees who sell products or content, with royalties flowing back to Farmhouse Inc.

Geographic exposure

Headquartered in San Francisco, California. The filing does not disclose revenue by geography.

Source: SEC 10-K, filed 2026-04-17

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