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 metricsFlagged areas: Earnings quality, Solvency & liquidity.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 3 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +12.6% 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 +32.2 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 turned positive
Latest reported free cash flow was $56M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. 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
- Earnings quality
- Solvency & liquidity
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- Europe$212Mshare n/a+12.9% yoy
- Asia Pacific$176Mshare n/a-0.8% yoy
- China$139Mshare n/a+9.3% yoy
- Italy$92.9Mshare n/a-38.4% yoy
- France$78.2Mshare n/a+512.6% yoy
- Other European Countries$40.8Mshare n/a+69.0% yoy
- United States$39.3Mshare n/a+173.2% yoy
- India$34.6Mshare n/a-29.1% yoy
- +1 more member in the filing
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Europe$52.4Mshare n/a+34.7% yoy
- Italy$39.8Mshare n/a+147.4% yoy
- Asia Pacific$36.6Mshare n/a-23.2% yoy
- China$33.3Mshare n/a-4.3% yoy
- France$11.8Mshare n/a+26.5% yoy
- Other Asia And Pacific Countries$3.27Mshare n/a-74.5% yoy
- +1 more member in the filing
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 · 808 in Technology| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $428M | 41stof 3,247 middle third | 39thof 769 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 12.6% | 67thof 3,083 middle third | 58thof 735 middle third |
Gross margin gross profit ÷ revenue | 28.6% | 34thof 1,585 middle third | 24thof 552 bottom third |
Operating margin operating income ÷ revenue | 1.6% | 46thof 2,777 middle third | 48thof 742 middle third |
Net margin net income ÷ revenue | -6.8% | 32ndof 3,212 bottom third | 33rdof 761 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 13.1% | 73rdof 2,640 top third | 60thof 692 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -7.1% | 36thof 3,520 middle third | 34thof 713 middle third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | 4.3× | 68thof 795 top third | 56thof 189 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.7% | 77thof 2,852 top third | 87thof 719 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 133 days | 6thof 2,373 bottom third | 7thof 706 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | -1.2× | 91stof 1,524 top third | 91stof 334 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -10.7% | 74thof 3,845 top third | 65thof 769 middle third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -11.0% | 75thof 3,301 top third | 75thof 678 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 · 22 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Total liabilities Liabilities | balance at 2020-12-31 | $867K 10-K 2021-03-25 | $389M 10-K 2022-03-29 | +44777.1% | first · latest · 6 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-03-31 | $44.1K 10-Q 2021-06-02 | $9.63M 10-Q 2022-05-16 | +21745.5% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-06-30 | $66.5K 10-Q 2021-08-17 | $13.4M 10-Q 2022-08-11 | +20008.3% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-12-31 | $136K 10-K 2021-03-25 | $21.5M 10-K 2023-03-16 | +15710.4% | first · latest · 7 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-09-30 | -$174K 10-Q 2020-11-09 | -$9.1M 10-Q 2021-11-15 | -5117.4% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-06-30 | -$544K 10-Q 2021-08-17 | -$22.3M 10-Q 2022-08-11 | -4007.3% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | -$922K 10-K 2021-03-25 | -$29.1M 10-K 2023-03-16 | -3058.1% | first · latest · 4 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | fiscal year 2020-12-31 | -$706K 10-K 2021-03-25 | $15.6M 10-K 2023-03-16 | +2303.4% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | -$891K 10-Q 2021-06-02 | -$10.8M 10-Q 2022-05-16 | -1116.2% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2020-12-31 | 8,417,241 shares 10-K/A 2021-06-01 | 99,028,297 shares 10-K 2023-03-16 | +1076.5% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2021-03-31 | 17,137,983 shares 10-Q 2021-06-02 | 99,028,297 shares 10-Q 2022-05-16 | +477.8% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2021-03-31 | -$570K 10-Q 2021-06-02 | -$2.17M 10-Q 2022-05-16 | -281.6% | first · latest |
| Net income NetIncomeLoss | fiscal year 2020-12-31 | $1.38M 10-K 2021-03-25 | -$2.42M 10-K/A 2021-06-01 | -276.2% | first · latest |
| Net income NetIncomeLoss | quarter 2020-06-30 | -$163K 10-Q 2020-08-07 | -$297K 10-Q 2021-08-17 | -82.1% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2025-06-30 | $16.2M 10-Q 2025-08-11 | $9.03M 10-Q 2026-08-10 | -44.3% | first · latest |
| Total assets Assets | balance at 2020-12-31 | $282M 10-K 2021-03-25 | $405M 10-K 2022-03-29 | +43.2% | first · latest · 6 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2024-06-30 | -$75.6M 10-Q 2024-08-09 | -$98.7M 10-Q 2025-08-11 | -30.6% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2024-06-30 | -$78.4M 10-Q 2024-08-09 | -$102M 10-Q 2025-08-11 | -29.5% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2025-03-31 | $18.9M 10-Q 2025-05-12 | $15.3M 10-Q 2026-05-11 | -19.4% | first · latest |
| Net income NetIncomeLoss | quarter 2020-03-31 | $1.77M 10-Q 2020-05-04 | $1.9M 10-Q 2021-06-02 | +7.8% | first · latest · 4 filings carry it |
| Total assets Assets | balance at 2024-06-30 | $985M 10-Q 2024-08-09 | $961M 10-Q/A 2025-03-31 | -2.4% | first · latest |
| Total assets Assets | balance at 2024-09-30 | $1.02B 10-Q 2024-11-12 | $998M 10-Q/A 2025-03-31 | -2.3% | first · latest |
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 MVST 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.