Guardian Companies we are short, in their own words.
Each report is built from the company's SEC filings, press releases and court records. Every number links to the document it came from, estimates are labelled as ours, and the position is disclosed in the report. The reports are free. Follow-ups run on X and Substack as the facts change.
GLOO: Gloo's own filings make the short case.
A going-concern warning, growth that was mostly bought, and a CEO on every side of the table. Gloo Holdings (Nasdaq: GLOO), a Boulder faith-tech roll-up that IPO'd at $8.00 in November 2025 and sold stock again at $3.25 eight months later.
The short version
- The 10-Q for the quarter ended July 31, 2026 says there is substantial doubt about Gloo's ability to continue as a going concern. Cash was $39.3mm against a first-half operating cash burn of $28.0mm.
- Headline Q2 growth was 188%. On Gloo's own pro forma table, with every acquisition owned in both periods, revenue rose about 60%.
- Goodwill, intangibles and capitalized software are about 70% of assets; tangible equity is about negative $53mm.
- The CEO controls 53.3% of the vote, his entities have been the company's senior lender and landlord, and he has personally promised buybacks to pre-IPO investors at $18 to $27 a share.
- Every one of the five analysts covering GLOO was an underwriter on the IPO or the follow-on. The stock should become S-3 eligible around November 20, 2026, and we expect the next raise to follow.
What would make it wrong
Two quarters of positive operating cash flow without a raise, disclosed organic growth above 30%, the material weaknesses remediated, and the put obligations settled without Class A share sales.
Filings first, position disclosed.
What goes in
- The company's own documents: 10-K, 10-Q, proxy, prospectus, 8-K, Forms 3, 4 and 13D, and the press releases they contradict.
- Court records and state filings where they exist.
- Our arithmetic, labelled as ours, with the inputs shown so a reader can redo it.
What stays out
- Anonymous sources, former-employee hearsay and anything we cannot link to a document.
- Price targets. We show what the stock is worth at stated revenue multiples and let the reader pick one.
Disclosure
Guardian Research LLC and its author may hold, or may establish, a short position in any company covered here, including through options, and profit if the share price falls. We may cover, add to or reverse any position at any time, including immediately after publication, without notice. We do not contact companies before publication and have no duty to update a report.
Guardian Research LLC is not a registered investment adviser or broker-dealer. Nothing here is investment advice or a recommendation to buy or sell any security. Information comes from public sources we believe reliable and is provided as is.