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 -$8M.
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 -$8M.
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.
- 7 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +95.0% 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 improved
Operating margin changed +95.3 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
- Earnings quality
- 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
- 2026-10-09
- 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$819K100.0%+95.0% yoy
- Software Upgrade Services$00.0%no prior
Members sum to the consolidated $819K for this period.
- United States$655K80.0%+135.6% yoy
- Europe$164K20.0%+15.5% yoy
Members sum to the consolidated $819K for this period.
- Service$749K73.5%no prior
- Product$270K26.5%+27.4% 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 4,070 US-listed filers · 314 in Healthcare| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $819000 | 3rdof 3,250 bottom third | 4thof 284 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 95.0% | 94thof 3,088 top third | 97thof 270 top third |
Gross margin gross profit ÷ revenue | 92.3% | 98thof 1,587 top third | 98thof 206 top third |
Operating margin operating income ÷ revenue | -2581.6% | 4thof 2,778 bottom third | 4thof 273 bottom third |
Net margin net income ÷ revenue | -2098.1% | 4thof 3,215 bottom third | 4thof 283 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -1015.0% | 5thof 2,643 bottom third | 6thof 256 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -243.6% | 4thof 3,526 bottom third | 8thof 286 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 41.3% | 10thof 2,855 bottom third | 8thof 269 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 69 days | 27thof 2,376 bottom third | 28thof 259 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -40.7% | 95thof 3,856 top third | 94thof 299 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 8.2% | 42ndof 3,309 middle third | 39thof 261 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 · 19 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2021-03-31 | $1.12M 10-Q 2021-05-12 | $4K 10-Q 2022-05-16 | -99.6% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2021-06-30 | $1M 10-Q 2021-08-11 | $9K 10-Q 2022-08-16 | -99.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2024-12-31 | 3,263,586 shares 10-K 2025-03-31 | 171,774 shares 10-K 2026-03-31 | -94.7% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2025-03-31 | 11,283,929 shares 10-Q 2025-05-14 | 593,890 shares 10-Q 2026-05-18 | -94.7% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2025-06-30 | 13,336,088 shares 10-Q 2025-08-11 | 701,896 shares 10-Q 2026-08-14 | -94.7% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2020-12-31 | $4.41M 10-K 2021-03-17 | $259K 10-K 2022-03-24 | -94.1% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-09-30 | $914K 10-Q 2020-11-16 | $68K 10-Q 2021-11-15 | -92.6% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2020-12-31 | $238K 10-K 2021-03-17 | $24K 10-K 2022-03-24 | -89.9% | first · latest · 5 filings carry it |
| Gross profit GrossProfit | fiscal year 2020-12-31 | -$1.08M 10-K 2021-03-17 | -$1.91M 10-K 2022-03-24 | -77.6% | first · latest |
| Gross profit GrossProfit | quarter 2021-03-31 | -$255K 10-Q 2021-05-12 | -$443K 10-Q 2022-05-16 | -73.7% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-06-30 | -$7.24M 10-Q 2021-08-11 | -$6.74M 10-Q 2022-08-16 | +7.0% | first · latest |
| Gross profit GrossProfit | quarter 2021-06-30 | -$483K 10-Q 2021-08-11 | -$511K 10-Q 2022-08-16 | -5.8% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | -$7.18M 10-Q 2021-05-12 | -$6.87M 10-Q 2022-05-16 | +4.4% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-09-30 | -$7.77M 10-Q 2020-11-16 | -$7.51M 10-Q 2021-11-15 | +3.4% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | -$36.1M 10-K 2021-03-17 | -$35.4M 10-K 2022-03-24 | +1.8% | first · latest |
| Gross profit GrossProfit | quarter 2020-09-30 | -$504K 10-Q 2020-11-16 | -$500K 10-Q 2021-11-15 | +0.8% | first · latest |
| Goodwill Goodwill | balance at 2023-03-31 | $0 10-Q 2023-06-02 | $56M 10-Q 2024-11-14 | - | first · latest · 5 filings carry it |
| Goodwill Goodwill | balance at 2023-06-30 | $0 10-Q 2023-12-15 | $60.9M 10-Q 2024-11-14 | - | first · latest · 4 filings carry it |
| Goodwill Goodwill | balance at 2023-09-30 | $0 10-Q 2023-12-21 | $60.9M 10-Q 2024-11-14 | - | first · latest · 3 filings carry it |
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 VJET 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.