Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $4.87M | $4.30M | $1.80M | $122K | $0.00 | $4.36M | $0.00 | — | — |
| Revenue growth | — | — | -11.7% | -58.1% | -93.2% | -100.0% | — | -100.0% | — | — |
| Gross profit | $988K | $908K | $822K | $427K | $52.2K | $0.00 | — | — | — | — |
| Gross margin | — | 18.6% | 19.1% | 23.6% | 42.8% | — | — | — | — | — |
| Operating income | -$2.69M | -$3.24M | -$2.26M | -$5.01M | -$6.83M | -$10.4M | -$12.6M | -$14.0M | -$15.2M | -$18.0M |
| Operating margin | — | -66.5% | -52.5% | -277.7% | -5597.8% | — | -288.4% | — | — | — |
| Net income | -$1.75M | -$3.90M | -$3.26M | -$7.61M | -$13.6M | -$25.4M | -$20.1M | -$15.3M | -$16.6M | -$22.1M |
| Net margin | — | -80.0% | -75.7% | -421.7% | -11122.5% | — | -460.3% | — | — | — |
| EPS (diluted) | -$1.22 | -$1.01 | -$0.38 | -$0.42 | -$0.62 | -$0.86 | — | — | -$7.85 | -$0.39 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.75M | -$1.26M | -$1.12M | -$3.10M | -$3.91M | -$6.85M | -$6.92M | -$10.4M | -$12.8M | -$7.60M |
| Capital expenditures | $23.4K | -$2.44K | $97.3K | $79.9K | $70.1K | $300K | $855K | $80.8K | $66.4K | $0.00 |
| Free cash flow | -$2.77M | -$1.26M | -$1.21M | -$3.18M | -$3.98M | -$7.15M | -$7.78M | -$10.4M | -$12.9M | -$7.60M |
| Share buybacks | — | — | — | — | — | — | $855K | $0.00 | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $188K | $103K | $934K | $1.90M | $4.30M | $12.3M | $12.6M | $8.02M | $3.11M | $4.10M |
| Total assets | $2.63M | $1.19M | $2.10M | $2.64M | $4.68M | $12.9M | $13.8M | $8.27M | $3.66M | $125M |
| Total liabilities | — | — | — | — | — | — | — | $4.52M | $5.82M | $28.0M |
| Long-term debt | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — |
| Shareholders' equity | -$2.81M | -$3.96M | -$2.61M | -$3.30M | -$1.91M | $1.24M | $9.86M | $3.74M | -$2.16M | $97.1M |
| Retained earnings | -$27.1M | -$31.5M | -$34.8M | -$42.4M | -$56.0M | -$81.3M | -$101M | -$122M | -$139M | -$163M |
| Shares (wtd avg diluted) | 2.36M | 4.66M | 17.5M | 18.4M | 24.8M | 33.7M | 48.2M | 80.4M | 2.15M | 63.1M |
Every figure is extracted from USBC, 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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