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 4/5 core metricsOperating margin changed -1378.9 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -1378.9 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.
- Free cash flow was negative
Latest reported free cash flow was -$11M.
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.
- 2 filing risk checks flagged
Flagged areas: Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +1057.1% 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.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- 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- Product$420K76.6%-11.8% yoy
- Product And Service Other$128K23.4%+190.9% yoy
Members sum to $548K against $6.02M consolidated (residual $5.47M) - eliminations or corporate lines the filer did not tag on this axis.
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 4,104 US-listed filers · 898 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $6M | 9thof 3,301 bottom third | 10thof 541 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 1057.1% | 99thof 3,135 top third | 99thof 518 top third |
Gross margin gross profit ÷ revenue | 91.7% | 98thof 1,603 top third | 87thof 59 top third |
Operating margin operating income ÷ revenue | -4052.5% | 4thof 2,819 bottom third | 4thof 234 bottom third |
Net margin net income ÷ revenue | -679.6% | 7thof 3,263 bottom third | 6thof 534 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -13.6% | 31stof 3,577 bottom third | 12thof 774 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 153.7% | 5thof 2,895 bottom third | 5thof 422 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -15.9% | 87thof 3,291 top third | 95thof 761 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 200.0% | 4thof 2,805 bottom third | 5thof 694 bottom 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 · 16 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-06-30 | 2,518,071 shares 10-Q 2024-08-12 | 3,322 shares 10-Q 2025-08-14 | -99.9% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-09-30 | 3,740,625 shares 10-Q 2024-11-12 | 4,952 shares 10-Q 2025-11-18 | -99.9% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2024-12-31 | 2,709,781 shares 10-K 2025-03-25 | 3,577 shares 10-K 2026-03-31 | -99.9% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2025-03-31 | 7,556,267 shares 10-Q 2025-05-01 | 10,039 shares 10-Q 2026-05-15 | -99.9% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-06-30 | 2,518,071 shares 10-Q 2024-08-12 | 3,322 shares 10-Q 2025-08-14 | -99.9% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-09-30 | 3,740,625 shares 10-Q 2024-11-12 | 4,952 shares 10-Q 2025-11-18 | -99.9% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2024-12-31 | 2,709,781 shares 10-K 2025-03-25 | 3,577 shares 10-K 2026-03-31 | -99.9% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2025-03-31 | 7,556,267 shares 10-Q 2025-05-01 | 10,039 shares 10-Q 2026-05-15 | -99.9% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2020-03-31 | 30,972,064 shares 10-Q 2020-05-11 | 884,915 shares 10-Q 2021-05-17 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2020-06-30 | 40,623,343 shares 10-Q 2020-08-12 | 1,160,661 shares 10-Q 2021-08-12 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2020-09-30 | 45,137,995 shares 10-Q 2020-11-12 | 1,289,657 shares 10-Q 2021-11-09 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2020-03-31 | 30,972,064 shares 10-Q 2020-05-11 | 884,915 shares 10-Q 2021-05-17 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2020-06-30 | 40,623,343 shares 10-Q 2020-08-12 | 1,160,661 shares 10-Q 2021-08-12 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2020-09-30 | 45,137,995 shares 10-Q 2020-11-12 | 1,289,657 shares 10-Q 2021-11-09 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2022-09-30 | 8,543,303 shares 10-Q 2022-11-14 | 355,754 shares 10-Q 2023-11-09 | -95.8% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2022-09-30 | 8,543,303 shares 10-Q 2022-11-14 | 355,754 shares 10-Q 2023-11-09 | -95.8% | first · latest |
6 share-count periods re-presented for a stock split (1-for-50) 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. 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 HSDT 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.