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Companies with the steepest year-over-year revenue decline in Delaware. Minimum $10M prior-year revenue. Based on SEC EDGAR filings.
Market contraction analysis for Delaware reveals significant operational headwinds across multiple sectors in the 2026 fiscal cycle. Forte Biosciences, Inc. (FBRX) recorded the steepest contraction at -99.8% (Revenue: $36,000 (was $18.0M)), indicating a fundamental shift in market positioning or sector-wide downturn. IMAC Holdings, Inc. follows with a -99.6% revenue decline. This ranking identifies 100 SEC-registered entities currently navigating revenue contraction, providing a critical risk-assessment benchmark. Only companies with prior-year revenue exceeding $10M are included.
| # | Company | Location | YoY Revenue Decline | |
|---|---|---|---|---|
| 1 | Forte Biosciences, Inc.FBRX | Delaware | -99.8% | Revenue: $36,000 (was $18.0M) |
| 2 | IMAC Holdings, Inc.BACK | Delaware | -99.6% | Revenue: $72,050 (was $16.2M) |
| 3 | Cartesian Therapeutics, Inc.RNAC | Delaware | -99.0% | Revenue: $400,000 (was $38.3M) |
| 4 | Lipocine Inc.LPCN | Delaware | -96.9% | Revenue: $500,000 (was $16.1M) |
| 5 | Seres Therapeutics, Inc.MCRB | Delaware | -95.0% | Revenue: $7.1M (was $143.9M) |
| 6 | Alto Ingredients, Inc.ALTO | Delaware | -91.7% | Revenue: $100.0M (was $1.21B) |
| 7 | Elicio Therapeutics, Inc.ELTX | Delaware | -91.6% | Revenue: $2.3M (was $27.5M) |
| 8 | Bally's CorpBALY | Delaware | -91.0% | Revenue: $220.5M (was $2.45B) |
| 9 | Trinity Place Holdings Inc.TPHS | Delaware | -89.5% | Revenue: $3.5M (was $33.6M) |
| 10 | Protagonist Therapeutics, IncPTGX | Delaware | -89.4% | Revenue: $46.0M (was $434.4M) |
| 11 | Entrada Therapeutics, Inc.TRDA | Delaware | -87.9% | Revenue: $25.4M (was $210.8M) |
| 12 | GPGI, Inc.GPGI | Delaware | -85.8% | Revenue: $59.8M (was $420.6M) |
| 13 | United States Gasoline Fund, LPUGA | Delaware | -85.7% | Revenue: $2.3M (was $16.1M) |
| 14 | Foxx Development Holdings Inc.FOXX | Delaware | -85.1% | Revenue: $3.2M (was $21.6M) |
| 15 | ProPhase Labs, Inc.PRPH | Delaware | -80.6% | Revenue: $6.8M (was $35.0M) |
| 16 | LENNOX INTERNATIONAL INCLII | Delaware | -79.9% | Revenue: $1.07B (was $5.34B) |
| 17 | Greenlane Holdings, Inc.GNLN | Delaware | -79.7% | Revenue: $13.3M (was $65.4M) |
| 18 | Arcellx, Inc.ACLX | Delaware | -79.4% | Revenue: $22.3M (was $107.9M) |
| 19 | Limitless X Holdings Inc.LIMX | Delaware | -78.3% | Revenue: $3.4M (was $15.5M) |
| 20 | BGSF, INC.BGSF | Delaware | -77.0% | Revenue: $68.8M (was $298.4M) |
| 21 | Blend Labs, Inc.BLND | Delaware | -76.8% | Revenue: $26.8M (was $115.8M) |
| 22 | United States Brent Oil Fund, LPBNO | Delaware | -74.8% | Revenue: $5.2M (was $20.6M) |
| 23 | Aptevo Therapeutics Inc.APVO | Delaware | -74.7% | Revenue: $3.1M (was $12.3M) |
| 24 | Kodiak AI, Inc.KDK | Delaware | -74.6% | Revenue: $3.8M (was $14.9M) |
| 25 | Whitehawk Therapeutics, Inc.WHWK | Delaware | -72.5% | Revenue: $7.1M (was $26.0M) |
| 26 | T3 Defense Inc.DFNS | Delaware | -72.2% | Revenue: $5.9M (was $21.3M) |
| 27 | MONOLITHIC POWER SYSTEMS INCMPWR | Delaware | -71.1% | Revenue: $637.6M (was $2.21B) |
| 28 | Ernexa Therapeutics Inc.ERNA | Delaware | -70.7% | Revenue: $5.8M (was $19.8M) |
| 29 | Surrozen, Inc./DESRZN | Delaware | -67.4% | Revenue: $3.5M (was $10.7M) |
| 30 | SANGAMO THERAPEUTICS, INCSGMO | Delaware | -67.2% | Revenue: $57.8M (was $176.2M) |
| 31 | Viewbix Inc.VBIX | Delaware | -66.2% | Revenue: $26.9M (was $79.6M) |
| 32 | Tvardi Therapeutics, Inc.TVRD | Delaware | -66.0% | Revenue: $7.1M (was $21.0M) |
| 33 | Cogent Biosciences, Inc.COGT | Delaware | -65.0% | Revenue: $7.9M (was $22.5M) |
| 34 | Exceed World, Inc.EXDW | Delaware | -64.6% | Revenue: $8.6M (was $24.4M) |
| 35 | US ENERGY CORPUSEG | Delaware | -64.3% | Revenue: $7.4M (was $20.6M) |
| 36 | FutureFuel Corp.FF | Delaware | -60.7% | Revenue: $95.7M (was $243.3M) |
| 37 | Direct Digital Holdings, Inc.DRCT | Delaware | -60.4% | Revenue: $62.3M (was $157.1M) |
| 38 | Sports Entertainment Gaming Global CorpSEGG | Delaware | -58.7% | Revenue: $6.8M (was $16.4M) |
| 39 | Aclaris Therapeutics, Inc.ACRS | Delaware | -58.2% | Revenue: $7.8M (was $18.7M) |
| 40 | OLB GROUP, INC.OLB | Delaware | -58.0% | Revenue: $12.8M (was $30.6M) |
| 41 | Gossamer Bio, Inc.GOSS | Delaware | -57.7% | Revenue: $48.5M (was $114.7M) |
| 42 | BIOLARGO, INC.BLGO | Delaware | -56.3% | Revenue: $7.8M (was $17.8M) |
| 43 | Vroom, Inc.VRM | Delaware | -54.2% | Revenue: $893.2M (was $1.95B) |
| 44 | Five Point Holdings, LLCFPH | Delaware | -54.2% | Revenue: $108.2M (was $236.0M) |
| 45 | STRATUS PROPERTIES INCSTRS | Delaware | -53.9% | Revenue: $17.3M (was $37.5M) |
| 46 | XCel Brands, Inc.XELB | Delaware | -53.5% | Revenue: $8.3M (was $17.8M) |
| 47 | PRECISION BIOSCIENCES INCDTIL | Delaware | -50.1% | Revenue: $34.3M (was $68.7M) |
| 48 | Voyager Therapeutics, Inc.VYGR | Delaware | -49.5% | Revenue: $40.4M (was $80.0M) |
| 49 | Triller Group Inc.ILLR | Delaware | -49.3% | Revenue: $27.5M (was $54.2M) |
| 50 | Golden Minerals CoAUMN | Delaware | -48.5% | Revenue: $12.0M (was $23.3M) |
| 51 | DocGo Inc.DCGO | Delaware | -47.7% | Revenue: $322.2M (was $616.6M) |
| 52 | Velo3D, Inc.VELO | Delaware | -47.1% | Revenue: $41.0M (was $77.4M) |
| 53 | Arcturus Therapeutics Holdings Inc.ARCT | Delaware | -46.1% | Revenue: $82.0M (was $152.3M) |
| 54 | DNA X, Inc.SONM | Delaware | -45.6% | Revenue: $50.9M (was $93.6M) |
| 55 | IRONWOOD PHARMACEUTICALS INCIRWD | Delaware | -45.1% | Revenue: $41.1M (was $74.9M) |
| 56 | Navitas Semiconductor CorpNVTS | Delaware | -44.9% | Revenue: $45.9M (was $83.3M) |
| 57 | CytomX Therapeutics, Inc.CTMX | Delaware | -44.8% | Revenue: $76.2M (was $138.1M) |
| 58 | PFIZER INCPFE | Delaware | -44.5% | Revenue: $50.91B (was $91.79B) |
| 59 | NEKTAR THERAPEUTICSNKTR | Delaware | -43.9% | Revenue: $55.2M (was $98.4M) |
| 60 | Emmaus Life Sciences, Inc.EMMA | Delaware | -43.7% | Revenue: $16.7M (was $29.6M) |
| 61 | Paramount Skydance CorpPSKY | Delaware | -43.1% | Revenue: $16.62B (was $29.21B) |
| 62 | urban-gro, Inc.UGRO | Delaware | -42.8% | Revenue: $40.0M (was $69.9M) |
| 63 | MICROCHIP TECHNOLOGY INCMCHP | Delaware | -42.3% | Revenue: $4.40B (was $7.63B) |
| 64 | Solid Biosciences Inc.SLDB | Delaware | -40.6% | Revenue: $8.1M (was $13.6M) |
| 65 | ASPEN AEROGELS INCASPN | Delaware | -40.1% | Revenue: $271.1M (was $452.7M) |
| 66 | ALLURION TECHNOLOGIES, INC.ALUR | Delaware | -39.9% | Revenue: $32.1M (was $53.5M) |
| 67 | Moderna, Inc.MRNA | Delaware | -39.9% | Revenue: $1.94B (was $3.24B) |
| 68 | Beachbody Company, Inc.BODI | Delaware | -39.9% | Revenue: $251.7M (was $418.8M) |
| 69 | UPEXI, INC.UPXI | Delaware | -39.2% | Revenue: $15.8M (was $26.0M) |
| 70 | CLEARONE INCCLRO | Delaware | -39.1% | Revenue: $11.4M (was $18.7M) |
| 71 | CHEGG, INCCHGG | Delaware | -39.0% | Revenue: $376.9M (was $617.6M) |
| 72 | Skillz Inc.SKLZ | Delaware | -38.9% | Revenue: $92.9M (was $152.1M) |
| 73 | ORASURE TECHNOLOGIES INCOSUR | Delaware | -38.1% | Revenue: $115.0M (was $185.8M) |
| 74 | Core Scientific, Inc./txCORZ | Delaware | -37.5% | Revenue: $319.0M (was $510.7M) |
| 75 | INTERPARFUMS INCIPAR | Delaware | -36.2% | Revenue: $71.5M (was $112.0M) |
| 76 | MEDIFAST INCMED | Delaware | -36.0% | Revenue: $385.8M (was $602.5M) |
| 77 | Super League Enterprise, Inc.SLE | Delaware | -35.5% | Revenue: $16.2M (was $25.1M) |
| 78 | Arcus Biosciences, Inc.RCUS | Delaware | -35.3% | Revenue: $33.0M (was $51.0M) |
| 79 | Spire Global, Inc.SPIR | Delaware | -35.2% | Revenue: $71.6M (was $110.5M) |
| 80 | Jet.AI Inc.JTAI | Delaware | -34.6% | Revenue: $9.2M (was $14.0M) |
| 81 | Rigetti Computing, Inc.RGTI | Delaware | -34.3% | Revenue: $7.1M (was $10.8M) |
| 82 | Sensus Healthcare, Inc.SRTS | Delaware | -34.3% | Revenue: $27.5M (was $41.8M) |
| 83 | Spectral AI, Inc.MDAI | Delaware | -33.6% | Revenue: $19.6M (was $29.6M) |
| 84 | Airship AI Holdings, Inc.AISP | Delaware | -33.5% | Revenue: $15.3M (was $23.1M) |
| 85 | EDUCATIONAL DEVELOPMENT CORPEDUC | Delaware | -33.0% | Revenue: $34.2M (was $51.0M) |
| 86 | SIGA TECHNOLOGIES INCSIGA | Delaware | -31.8% | Revenue: $94.6M (was $138.7M) |
| 87 | ROCKWELL MEDICAL, INC.RMTI | Delaware | -31.8% | Revenue: $69.3M (was $101.5M) |
| 88 | BREAD FINANCIAL HOLDINGS, INC.BFH | Delaware | -31.3% | Revenue: $577.2M (was $840.2M) |
| 89 | Coronado Global Resources Inc.CODQL | Delaware | -30.8% | Revenue: $409.3M (was $591.9M) |
| 90 | Vivid Seats Inc.SEAT | Delaware | -30.5% | Revenue: $450.5M (was $647.9M) |
| 91 | Aterian, Inc.ATER | Delaware | -30.4% | Revenue: $69.0M (was $99.0M) |
| 92 | Solo Brands, Inc.SBDS | Delaware | -30.4% | Revenue: $316.6M (was $454.6M) |
| 93 | HYDROFARM HOLDINGS GROUP, INC.HYFM | Delaware | -29.4% | Revenue: $134.3M (was $190.3M) |
| 94 | OmniAb, Inc.OABIW | Delaware | -29.3% | Revenue: $18.7M (was $26.4M) |
| 95 | Emergent BioSolutions Inc.EBS | Delaware | -28.8% | Revenue: $742.9M (was $1.04B) |
| 96 | MARAVAI LIFESCIENCES HOLDINGS, INC.MRVI | Delaware | -28.3% | Revenue: $185.7M (was $259.2M) |
| 97 | Lulu's Fashion Lounge Holdings, Inc.LVLU | Delaware | -28.2% | Revenue: $315.9M (was $439.7M) |
| 98 | Alpha Metallurgical Resources, Inc.AMR | Delaware | -28.0% | Revenue: $2.12B (was $2.95B) |
| 99 | FALCONSTOR SOFTWARE INCFALC | Delaware | -27.9% | Revenue: $10.1M (was $13.9M) |
| 100 | TRINITY INDUSTRIES INCTRN | Delaware | -27.7% | Revenue: $585.4M (was $809.6M) |
According to SEC EDGAR annual filings, Forte Biosciences, Inc. (FBRX) experienced the steepest revenue contraction in Delaware at -99.8% (Revenue: $36,000 (was $18.0M)). This ranking identifies entities navigating significant operational headwinds.
Sprytne.com currently identifies 100 SEC-registered entities in Delaware with year-over-year revenue decline. Only companies with prior-year revenue above $10M are included to ensure data relevance for institutional analysis.
Based on publicly available SEC EDGAR and U.S. Census data. Rankings update as new filings are processed. Methodology