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
Caution evidenceCoverage 4/5 core metricsLatest reported annual revenue changed -100.0% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -100.0% 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 compressed
Operating margin changed -8799.8 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2024-12-31.
- Free cash flow was negative
Latest reported free cash flow was -$78M.
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.
- 1 filing risk check flagged
Flagged areas: Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
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
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 filingThe latest 10-K carries no single-axis revenue breakdown; the quarter below is the only reported split.
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 4,119 US-listed filers · 795 in Materials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Return on equity net income ÷ stockholders' equity (positive equity only) | -34.1% | 23rdof 3,577 bottom third | 51stof 701 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -4.2% | 48thof 3,461 middle third | 41stof 635 middle third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -7.6% | 73rdof 2,960 top third | 62ndof 560 middle 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 · 26 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Net income NetIncomeLoss | quarter 2023-06-30 | -$2.08M 10-Q 2023-08-10 | -$11.9M 10-Q 2024-11-18 | -468.8% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-09-30 | $75.2M 10-Q 2023-11-14 | -$183M 10-Q 2024-11-18 | -343.5% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2023-06-30 | $79.6M 10-Q 2023-08-10 | -$169M 10-Q 2024-11-18 | -312.4% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2023-06-30 | -$3.07M 10-Q 2023-08-10 | -$12.6M 10-Q 2024-08-09 | -310.8% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2023-03-31 | $81.4M 10-Q 2023-05-08 | -$158M 10-Q 2024-11-18 | -293.7% | first · latest · 6 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-12-31 | $94.3M 10-K 2023-03-20 | -$146M 10-K 2025-03-24 | -254.5% | first · latest · 9 filings carry it |
| Net income NetIncomeLoss | quarter 2023-09-30 | -$4.53M 10-Q 2023-11-14 | -$14.6M 10-Q 2024-11-18 | -222.1% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2023-09-30 | -$5.57M 10-Q 2023-11-14 | -$15.2M 10-Q 2024-11-18 | -173.3% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2021-12-31 | $143M 10-K 2022-03-01 | -$91.9M 10-K 2024-03-18 | -164.3% | first · latest · 9 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2023-03-31 | $329K 10-Q 2023-05-08 | $812K 10-Q 2024-05-10 | +146.8% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2022-12-31 | $37.9M 10-K 2023-03-20 | $82M 10-K 2024-03-18 | +116.5% | first · latest · 5 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | fiscal year 2022-12-31 | $1.56M 10-K 2023-03-20 | $3.2M 10-K 2024-03-18 | +104.7% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | fiscal year 2022-12-31 | $1.11M 10-K 2023-03-20 | $2.23M 10-K 2024-03-18 | +100.9% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-06-30 | 56,158,629 shares 10-Q 2023-08-10 | 444,465 shares 10-Q 2024-08-09 | -99.2% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-06-30 | 56,158,629 shares 10-Q 2023-08-10 | 444,465 shares 10-Q 2024-08-09 | -99.2% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2023-03-31 | $419K 10-Q 2023-05-08 | $29K 10-Q 2024-05-10 | -93.1% | first · latest |
| Stock-based compensation ShareBasedCompensation | fiscal year 2022-12-31 | $8.83M 10-K 2023-03-20 | $1.25M 10-K 2024-03-18 | -85.8% | first · latest |
| Stock-based compensation ShareBasedCompensation | quarter 2023-03-31 | $1.19M 10-Q 2023-05-08 | $293K 10-Q 2024-05-10 | -75.4% | first · latest |
| Total liabilities Liabilities | balance at 2022-12-31 | $21.6M 10-K 2023-03-20 | $10.6M 10-K 2024-03-18 | -50.8% | first · latest · 5 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | fiscal year 2022-12-31 | -$45.6M 10-K 2023-03-20 | -$52.8M 10-K 2024-03-18 | -15.8% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2023-03-31 | -$15.1M 10-Q 2023-05-08 | -$13M 10-Q 2024-05-10 | +13.9% | first · latest |
| Net income NetIncomeLoss | quarter 2023-03-31 | -$14.2M 10-Q 2023-05-08 | -$12.3M 10-Q 2024-11-18 | +13.7% | first · latest · 6 filings carry it |
| Total assets Assets | balance at 2022-12-31 | $116M 10-K 2023-03-20 | $109M 10-K 2024-03-18 | -5.8% | first · latest · 5 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2022-12-31 | -$59.1M 10-K 2023-03-20 | -$56.5M 10-K 2024-03-18 | +4.4% | first · latest |
| Net income NetIncomeLoss | fiscal year 2022-12-31 | -$57.6M 10-K 2023-03-20 | -$55.2M 10-K 2024-03-18 | +4.1% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2023-03-31 | -$13M 10-Q 2023-05-08 | -$13.6M 10-Q 2024-05-10 | -4.0% | first · latest |
4 share-count periods re-presented for a stock split (1-for-25, 1-for-5) 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 NGNE 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.