Added to YB: 2026-04-22
Pitch date: 2026-04-19
DBO.TO [neutral]
D-BOX Technologies Inc.
Author Info
SpruceHill Capital is a value investor with a focus on illiquid small and micro cap stocks. Sign up for the newsletter.
Company Info
D-BOX Technologies Inc. designs, manufactures, and commercializes haptic motion systems intended for theatrical entertainment, sim racing and simulation, and training business in the United States, Canada, Europe, Asia, South America, Oceania, and Africa.
Market Cap
CAD 187.1M
Pitch Price
CAD 0.82
Price Target
4.92 (+500%)
Dividend
N/A
EV/EBITDA
13.16
P/E
11.89
EV/Sales
3.39
Sector
Household Durables
Category
turnaround
Full Portfolio Breakdown - D-BOX Technologies Inc.
DBO.TO (holding update): Theater haptic chair biz turned profitable post-activist overhaul. Capital-light royalty model: sell vibrating seats, collect per-ticket fees. Q4 2025 added 86 screens (+8% QoQ), targeting 20% screen growth in 2026. Box office +10-15% expected, action-heavy slate favors D-BOX. Margins expanding as royalty mix rises. Low-teens P/E despite potential to 2x FCF/earnings in 3yr. Debt-free, $16.2M cash, 10% buyback initiated. Bull case: 6x return if FCF doubles & re-rates to 20x P/E.
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