Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.59M | $5.62M | $4.37M | $4.93M | $4.91M | $802K | $410K | $279K | $637K | $30.0K |
| Revenue growth | — | 0.5% | -22.2% | 12.8% | -0.4% | -83.7% | -48.9% | -32.0% | 128.3% | -95.3% |
| Operating income | $1.19M | $221K | -$3.84M | -$6.70M | -$8.46M | -$28.2M | -$60.5M | -$15.0M | -$103M | -$29.2M |
| Operating margin | 21.3% | 3.9% | -87.9% | -135.8% | -172.4% | -3516.1% | -14750.5% | -5391.8% | -16111.0% | -97196.7% |
| Net income | $710K | $138K | -$11.6M | -$4.69M | -$10.8M | -$23.1M | -$125M | -$1.88M | -$34.4M | -$30.5M |
| Net margin | 12.7% | 2.5% | -266.5% | -95.2% | -219.0% | -2875.4% | -30404.4% | -672.4% | -5401.9% | -101733.3% |
| EPS (diluted) | $0.06 | $0.01 | -$0.93 | -$0.35 | -$0.66 | -$1.49 | -$6.31 | -$0.08 | -$1.45 | -$1.04 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $72.0K | -$1.62M | -$1.81M | -$3.13M | -$4.67M | -$15.6M | -$26.1M | -$10.9M | -$7.80M | -$18.9M |
| Capital expenditures | $1.55M | $1.82M | $710K | $399K | $534K | $206K | $2.00K | — | $143K | $4.00K |
| Free cash flow | -$1.48M | -$3.44M | -$2.52M | -$3.53M | -$5.20M | -$15.8M | -$26.1M | — | -$7.95M | -$18.9M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.34M | $11.8M | $15.8M | $12.0M | $6.21M | $7.85M | $26.5M | $21.5M | $2.67M | $52.8M |
| Total assets | — | $86.2M | $117M | $142M | $136M | $154M | $118M | $98.8M | $96.8M | $114M |
| Total liabilities | — | $24.1M | $1.35M | $17.4M | $5.82M | $17.4M | $21.1M | $2.20M | $10.6M | $15.7M |
| Shareholders' equity | $48.8M | $52.7M | $107M | $111M | $117M | $122M | $101M | $100M | $82.2M | $94.4M |
| Retained earnings | — | — | -$1.11M | -$5.84M | -$16.3M | -$40.8M | -$165M | -$167M | -$202M | -$232M |
| Shares (wtd avg diluted) | 12.5B | 12.5B | 12.5B | — | — | 16.5M | 19.8M | 23.3M | 23.7M | 29.4M |
Every figure is extracted from Rafael Holdings, 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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