SharonAI Holdings, Inc Class A Common Stock (SHAZ) had the highest return last year by a small-cap US stock, returning 440,376.2%.

ASSET	YEAR	% RETURN
SharonAI Holdings, Inc Class A Common Stock (SHAZ)	2025	440,376.19%
Santacruz Silver Mining Ltd Common Shares (SCZM)	2025	1,148.06%
Oncology Institute (TOI)	2025	1,063.4%
Relmada Therapeutics (RLMD)	2025	830.99%
XMax (XWIN)	2025	809.09%
XMax (XMAX)	2025	809.09%
Palvella Therapeutics (PVLA)	2025	801.55%
Nanobiotix (NBTX)	2025	643.41%
Avino Silver & Gold Mines (ASM)	2025	582.42%
Charming Medical Limited Class A Ordinary Shares (MCTA)	2025	539.54%
Newegg Commerce (NEGG)	2025	534.5%
DBV Technologies (DBVT)	2025	482.67%
Anbio Biotechnology Class A Ordinary Shares (NNNN)	2025	471.67%
Americas Silver (USAS)	2025	437.89%
Inhibrx Biosciences (INBX)	2025	416%
Nutex Health (NUTX)	2025	413.96%
Damora Therapeutics (DMRA)	2025	381.38%
Integra Resources (ITRG)	2025	355.68%
ThredUp (TDUP)	2025	343.75%
SuperX AI Technology (SUPX)	2025	333.27%
Sify Technologies (SIFY)	2025	326.22%
Olema Pharmaceuticals (OLMA)	2025	322.3%
CytomX Therapeutics (CTMX)	2025	321.78%
Alto Neuroscience (ANRO)	2025	313.95%
International Tower Hill Mines (THM)	2025	303.47%

Small-cap stocks are treated as having a market cap between $300M and $2B.