STAK Inc. (NASDAQ: STAK)

STAK Inc. is a holding company that conducts its operations in mainland China through its PRC subsidiaries, focusing on the research, development, manufacturing, and sale of oilfield‑specialized production and maintenance equipment. The company designs and manufactures equipment such as oil pumping trucks, oil‑well repair trucks, fracking trucks, well flushing‑wax removal trucks, and boiler trucks, then collaborates with qualified vehicle manufacturers to integrate this equipment onto chassis to produce complete specialized oilfield vehicles. In addition, STAK Inc. sells equipment components, related products, and provides automation solutions aimed at improving efficiency, reducing costs, and enhancing environmental performance for oilfield service companies.

STAK Inc. generates revenue primarily from the sale of its oilfield‑specialized vehicles and equipment, including complete vehicles assembled by partner manufacturers and standalone components such as pumping units, fracturing assemblies, and cementing systems. The company also earns revenue from automation products and related services that support oilfield operations. Its customers are dealers and resellers who subsequently distribute the products to end‑user oilfield service companies, with payment typically structured as a deposit upon order and final settlement upon delivery.

Within the oilfield equipment industry, STAK Inc. positions itself as a fast‑growing, technology‑driven player that differentiates itself through a strong emphasis on research and development, evidenced by its portfolio of 57 registered patents in China and numerous software copyrights. The company leverages strategic partnerships with academic institutions such as Dalian University of Technology and Jiangsu University to advance intelligent, lightweight, safe, and environmentally friendly solutions. Its competitive advantages include ISO 9001, ISO 14001, ISO 45001, and CE certifications, a robust intellectual property portfolio, and a business model that outsources final vehicle assembly to qualified manufacturers while retaining control over core design, R&D, and integration.

STAK Inc. sells its products through a network of dealers and resellers who then serve oilfield service companies across China. While the filing does not disclose specific customer names, it notes that the three largest customers accounted for approximately 62% of the company’s revenue for the fiscal year ended June 30, 2025, indicating a concentrated but diversified client base within the oilfield services sector.