Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsLatest reported free cash flow was -$9M.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Free cash flow was negative
Latest reported free cash flow was -$9M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2024-12-31.
- Shareholders' equity was non-positive
Debt/equity is shown as not meaningful rather than as a negative leverage ratio.
Why this surfaced
Same-period reported shareholders' equity was zero or negative; review the balance sheet and capital structure. Period end 2025-12-31.
- 5 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +8.7% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin improved
Operating margin changed +153.5 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-10-21
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Securities Revenue Information$2.52M96.8%-8.7% yoy
- Commercial Lending Revenue Information$45K1.7%-80.1% yoy
- Biotechnology Revenue Information$38K1.5%no prior
Members sum to $2.61M against $20.8M consolidated (residual $18.1M) - eliminations or corporate lines the filer did not tag on this axis.
- Printed Products Revenue Information$18.1Mshare n/a+12.7% yoy
- Printed Products$18.1Mshare n/a+12.3% yoy
- Commission$1.35Mshare n/a+39.2% yoy
- Rental Income$1.24Mshare n/a-31.0% yoy
- Commercial Lending$45Kshare n/a-80.1% yoy
- Biotechnology$38Kshare n/ano prior
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Securities Revenue Information$321K97.3%-67.3% yoy
- Commercial Lending Revenue Information$6K1.8%-33.3% yoy
- Biotechnology Revenue Information$3K0.9%-57.1% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,060 US-listed filers · 790 in Materials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $21M | 15thof 3,247 bottom third | 28thof 512 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 8.7% | 58thof 3,083 middle third | 54thof 464 middle third |
Operating margin operating income ÷ revenue | -69.5% | 19thof 2,777 bottom third | 44thof 474 middle third |
Net margin net income ÷ revenue | -115.3% | 14thof 3,212 bottom third | 36thof 508 middle third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | -54.3× | 11thof 795 bottom third | 26thof 149 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.1% | 99thof 2,852 top third | 100thof 466 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 40 days | 63rdof 2,373 middle third | 68thof 382 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -17.0% | 85thof 3,845 top third | 77thof 752 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -49.7% | 88thof 3,301 top third | 79thof 662 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 49 changed periods, 30 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Stock-based compensation ShareBasedCompensation | quarter 2025-03-31 | $2K 10-Q 2025-05-15 | $872K 10-Q 2026-05-15 | +43500.0% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2023-12-31 | -$21.5M 10-K 2024-03-27 | -$50.8M 10-K 2025-03-31 | -136.6% | first · latest · 3 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2025-03-31 | -$1.64M 10-Q 2025-05-15 | $168K 10-Q 2026-05-15 | +110.3% | first · latest |
| Interest expense InterestExpense | fiscal year 2022-12-31 | $2.91M 10-K 2023-03-31 | $126K 10-K/A 2024-10-22 | -95.7% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | quarter 2022-09-30 | $606K 10-Q 2022-11-14 | $42K 10-Q 2023-11-14 | -93.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2022-06-30 | 90,822,875 shares 10-Q 2022-09-14 | 34,888,054 shares 10-Q 2023-08-14 | -61.6% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2022-06-30 | 90,822,875 shares 10-Q 2022-09-14 | 34,888,054 shares 10-Q 2023-08-14 | -61.6% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-03-31 | -$1.96M 10-Q 2020-05-14 | -$917K 10-Q 2021-05-14 | +53.1% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2022-12-31 | $47.3M 10-K 2023-03-31 | $28.4M 10-K/A 2024-10-22 | -40.0% | first · latest · 3 filings carry it |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2020-03-31 | $105K 10-Q 2020-05-14 | $68K 10-Q 2021-05-14 | -35.2% | first · latest |
| Net income NetIncomeLoss | fiscal year 2020-12-31 | $1.42M 10-K 2021-03-31 | $1.9M 10-K/A 2022-08-17 | +33.9% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2022-12-31 | -$43.7M 10-K 2023-03-31 | -$30M 10-K/A 2024-10-22 | +31.4% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2023-12-31 | -$80.6M 10-K 2024-03-27 | -$60.6M 10-K 2025-03-31 | +24.8% | first · latest · 3 filings carry it |
| Receivables AccountsReceivableNetCurrent | balance at 2022-12-31 | $7.56M 10-K 2023-03-31 | $5.77M 10-K/A 2024-10-22 | -23.7% | first · latest · 6 filings carry it |
| Stock-based compensation ShareBasedCompensation | quarter 2021-03-31 | $15K 10-Q 2021-05-14 | $12K 10-Q 2022-05-16 | -20.0% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2021-12-31 | $200M 10-Q 2022-05-16 | $162M 10-K 2023-03-31 | -19.2% | first · latest · 4 filings carry it |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | fiscal year 2022-12-31 | $2.29M 10-K 2023-03-31 | $1.86M 10-K/A 2024-10-22 | -18.8% | first · latest · 3 filings carry it |
| Stock-based compensation ShareBasedCompensation | fiscal year 2020-12-31 | $188K 10-K 2021-03-31 | $156K 10-K/A 2022-08-17 | -17.0% | first · latest · 3 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2022-12-31 | $19.3M 10-K 2023-03-31 | $16.2M 10-K/A 2024-10-22 | -16.1% | first · latest · 6 filings carry it |
| Depreciation and amortization DepreciationAndAmortization | quarter 2020-03-31 | $360K 10-Q 2020-05-14 | $303K 10-Q 2021-05-14 | -15.8% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-03-31 | $5M 10-Q 2020-05-14 | $4.22M 10-Q 2021-05-14 | -15.6% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2023-12-31 | $30.3M 10-K 2024-03-27 | $25.9M 10-K 2025-03-31 | -14.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2020-06-30 | -$904K 10-Q 2020-08-14 | -$792K 10-Q 2021-08-23 | +12.4% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2020-12-31 | $17.4M 10-K 2021-03-31 | $15.4M 10-K/A 2022-08-17 | -11.8% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-09-30 | $4.17M 10-Q 2020-10-23 | $3.69M 10-Q 2021-11-18 | -11.6% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-06-30 | $3.13M 10-Q 2020-08-14 | $2.78M 10-Q 2021-08-23 | -11.2% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2021-12-31 | -$21.4M 10-K 2022-03-31 | -$23.5M 10-K 2023-03-31 | -9.9% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2021-03-31 | $4.94M 10-Q 2021-05-14 | $4.47M 10-Q 2022-05-16 | -9.6% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2024-12-31 | 7,072,377 shares 10-K 2025-03-31 | 7,702,377 shares 10-K 2026-03-31 | +8.9% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2022-03-31 | -$6.74M 10-Q 2022-05-16 | -$7.32M 10-Q 2023-05-15 | -8.5% | first · latest |
10 share-count periods re-presented for a stock split (1-for-20, 1-for-2) are listed apart from restatements and not counted above.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding; share counts re-presented by an integer split ratio are listed as split adjustments, not restatements. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for DSS yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.