Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.0M | $16.8M | $13.9M | $17.6M | $21.6M | $23.0M | $27.7M | $34.8M | $47.2M | $84.3M |
| Revenue growth | — | -40.0% | -17.5% | 26.9% | 22.9% | 6.7% | 20.4% | 25.5% | 35.6% | 78.6% |
| Gross profit | $16.5M | $8.12M | $6.54M | $9.90M | $11.8M | $12.8M | $16.7M | $21.3M | $25.9M | $40.5M |
| Gross margin | 58.9% | 48.4% | 47.2% | 56.3% | 54.7% | 55.5% | 60.1% | 61.2% | 54.9% | 48.1% |
| Operating income | $2.44M | -$77.6K | -$3.71M | $1.53M | $2.75M | $3.90M | $7.22M | $7.36M | $9.66M | $20.1M |
| Operating margin | 8.7% | -0.5% | -26.8% | 8.7% | 12.7% | 16.9% | 26.0% | 21.1% | 20.5% | 23.8% |
| Net income | $1.99M | $4.57M | -$3.65M | $1.85M | $3.27M | $5.06M | $5.52M | $6.03M | $7.00M | $15.6M |
| Net margin | 7.1% | 27.2% | -26.4% | 10.5% | 15.1% | 22.0% | 19.9% | 17.3% | 14.8% | 18.5% |
| EPS (diluted) | $0.12 | $0.27 | -$0.22 | $0.11 | $0.19 | $0.29 | $0.32 | $0.35 | $0.40 | $0.88 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.56M | $6.07M | -$1.74M | $2.11M | $4.59M | $4.59M | $6.09M | $2.10M | $5.80M | $13.3M |
| Capital expenditures | $353K | $153K | $2.55M | $81.3K | $341K | $341K | $161K | $298K | $658K | $6.51M |
| Free cash flow | $3.21M | $5.91M | -$4.29M | $2.03M | $4.25M | $4.25M | $5.93M | $1.80M | $5.14M | $6.79M |
| Share buybacks | $725K | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | $19.8M | $19.8M | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $18.8M | $24.7M | $20.4M | $22.4M | $12.6M | $8.27M | $17.3M | $3.10M | $539K | $2.69M |
| Total assets | $36.5M | $41.0M | $37.6M | $38.6M | $41.5M | $27.1M | $34.7M | $63.0M | $82.4M | $103M |
| Total liabilities | $3.64M | $3.43M | $3.48M | $2.35M | $13.8M | $2.50M | $3.96M | $24.3M | $35.7M | $38.8M |
| Long-term debt | — | — | — | — | — | — | — | $17.5M | $28.0M | $21.7M |
| Shareholders' equity | $32.8M | $37.6M | $34.2M | $36.2M | $27.8M | $24.6M | $30.7M | $38.6M | $46.6M | $64.6M |
| Retained earnings | $2.81M | $7.37M | $3.72M | $5.57M | -$2.34M | -$5.88M | -$359K | $5.67M | $12.7M | $28.3M |
| Shares (wtd avg diluted) | 17.0M | 16.9M | 16.8M | 16.9M | 17.1M | 17.2M | 17.3M | 17.4M | 17.5M | 17.8M |
Every figure is extracted from INNOVATIVE SOLUTIONS & SUPPORT INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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