Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $50.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Revenue growth | — | — | -100.0% | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | -$1.82M | -$1.19M | -$1.25M | -$891K | -$1.58M | -$14.9M |
| Net income | -$4.00M | -$4.83M | -$3.06M | -$5.62M | -$2.42M | -$1.42M | -$1.55M | -$1.22M | -$1.93M | -$15.3M |
| Net margin | — | -9670.0% | — | — | — | — | — | — | — | — |
| EPS (diluted) | -$0.02 | -$0.02 | -$0.01 | -$0.02 | -$0.01 | $0.00 | $0.00 | $0.00 | $0.00 | -$0.03 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.63M | -$1.79M | -$1.48M | -$2.68M | -$969K | -$722K | -$923K | -$629K | -$1.17M | -$4.01M |
| Capital expenditures | $5.00K | $49.0K | $0.00 | $6.00K | $0.00 | $0.00 | $1.00K | $0.00 | $2.00K | $0.00 |
| Free cash flow | -$1.63M | -$1.83M | -$1.48M | -$2.68M | -$969K | -$722K | -$924K | -$629K | -$1.17M | -$4.01M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | — | — | — | $479K | $52.0K | $114K | $133K | $70.0K | $150K | $6.00K |
| Total assets | $186K | $290K | $1.21M | $600K | $114K | $280K | $158K | $84.0K | $164K | $55.0K |
| Total liabilities | — | — | — | — | $3.62M | $4.45M | $4.85M | $5.33M | $5.86M | $5.93M |
| Shareholders' equity | -$1.36M | -$1.87M | -$1.48M | -$2.27M | -$3.51M | -$4.17M | -$4.69M | -$5.24M | -$5.70M | -$5.88M |
| Retained earnings | -$105M | -$110M | -$113M | -$119M | -$121M | -$123M | -$124M | -$125M | -$127M | -$143M |
| Shares (wtd avg diluted) | 199M | 234M | 256M | 310M | 316M | 336M | 362M | 386M | 405M | 500M |
Every figure is extracted from QS Energy, 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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