Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.9K | $21.5K | $111K | $1.01M | $1.75M | $4.72M | $5.48M | $8.49M | $4.95M | $869K |
| Revenue growth | — | -52.1% | 416.9% | 811.8% | 73.0% | 169.2% | 16.1% | 55.0% | -41.7% | -82.4% |
| Gross profit | — | $21.5K | $87.3K | $988K | $1.74M | $3.96M | $5.37M | $8.41M | $4.84M | $829K |
| Gross margin | — | 100.0% | 78.5% | 97.5% | 99.4% | 83.9% | 98.0% | 99.0% | 97.8% | 95.4% |
| Operating income | -$707K | -$549K | -$192K | $624K | $1.15M | -$402K | -$1.03M | $2.27M | -$3.44M | -$8.32M |
| Operating margin | -1575.9% | -2552.7% | -172.8% | 61.6% | 65.4% | -8.5% | -18.8% | 26.7% | -69.5% | -957.1% |
| Net income | -$836K | -$828K | $131K | $583K | $605K | $1.47M | $3.50M | $2.95M | -$4.99M | -$28.3M |
| Net margin | -1862.5% | -3850.3% | 118.0% | 57.5% | 34.5% | 31.1% | 63.9% | 34.8% | -100.7% | -3255.0% |
| EPS (diluted) | $0.00 | $0.00 | $0.00 | $0.00 | $1.50 | $0.89 | $1.27 | $0.63 | -$28.83 | -$20.39 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21.7K | -$14.2K | -$50.2K | $30.6K | -$3.60K | -$3.25M | -$3.01M | -$4.62M | -$4.88M | -$5.34M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $843.00 | $17.5K | $1.66K | $19.1K | $11.2K | $2.47M | $474K | $569K | $863K | $289K |
| Total assets | $702K | $19.7K | $98.4K | $719K | $2.21M | $25.7M | $31.8M | $41.8M | $41.6M | $20.9M |
| Total liabilities | $2.49M | $2.61M | $1.58M | $1.58M | $1.53M | $11.5M | $6.55M | $5.66M | $3.62M | $6.00M |
| Long-term debt | — | — | — | — | — | $2.39M | $495K | $500K | $500K | $500K |
| Shareholders' equity | -$1.78M | -$2.59M | -$1.48M | -$865K | $679K | $14.2M | $25.2M | $36.2M | $37.9M | $14.9M |
| Retained earnings | -$2.95M | -$3.78M | -$3.65M | -$3.07M | -$2.46M | -$993K | $2.51M | $5.47M | $480K | -$27.8M |
| Shares (wtd avg diluted) | 506M | 512M | 638M | 742M | 402K | 1.65M | 2.75M | 4.68M | 173K | 1.39M |
Every figure is extracted from Netcapital 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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