# Heritage Distilling Holding Company, Inc. (IPST)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $29M  
**Price:** $3.35 (+0.90%)

> IP Strategy Holdings, Inc. operates as a diversified business centered on digital asset–based infrastructure and intellectual property (“IP”) management, supplemented by a legacy craft spirit. The company operates through Crypto and Related Business and Spirits Business segments. The company's treasury reserve of IP tokens provides direct participation in the Story blockchain ecosystem, which enables on-chain registration, licensing, and monetization of intellectual property. The company was formerly known as Heritage Distilling Holding Company, Inc. and change its name to IP Strategy Holdings, Inc. in February 2026. The company was founded in 2011 and is based in Gig Harbor, Washington.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $10M | $6M | -$134M | -$138M | — |
| 2024 | $8M | $2M | -$15M | $710,458 | — |
| 2023 | $8M | $2M | -$11M | -$37M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $109M | $11M | $98M | — | $3M |
| 2024 | $28M | $27M | $791,767 | — | $13M |
| 2023 | $26M | $70M | -$43M | — | $14M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$15M | $74,754 | -$15M |
| 2024 | -$11M | $106,421 | -$11M |
| 2023 | -$8M | $26,512 | -$9M |

Source: [CompaniesByCap](https://companiesbycap.com/company/IPST)