Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AI Financial Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
104
41.5
36.8
35.1
33.9
40
35
0
12.5
24.8
Cost of revenue
28.1
28.4
25.7
27.3
25
31.2
0
0
6.24
14.7
Gross profit
12.4
13.1
11.1
7.79
8.83
8.87
0
0
5.65
10.2
Selling, general and administrative
11.2
13.4
17.2
20.2
17.8
12.1
3.15
4.75
12.6
33
Operating expenses
17.8
12.1
3.15
19.8
12.6
33
Operating income
1.12
-0.23
-6.1
-12.4
-9
-16.8
-3.15
-19.8
-6.92
-22.9
Interest expense
1.17
0.89
0.67
Other non-operating income
0.01
-0.05
-0.24
-2.73
0.07
0.18
4.55
2.32
-1.54
-405
Pre-tax income
-0.04
4.07
-6.34
-15.2
-8.93
3.04
1.4
-17.5
-8.46
-428
Income tax
0.43
-1.33
-0.73
-3.2
0.43
0.27
-6.62
-0.43
-0.16
-86.7
Income from continuing operations
-3.31
8.02
-17.1
-8.3
-341
Net income to minority interests
-0.31
-0.5
0
Net income
-1.77
-0.38
-5.61
-12
-8.5
-16.9
11
-7.81
-7.57
-345
EBITDA
2.08
1.92
-2.1
-8.36
-4.87
-12.6
-3.15
-18.4
-5.61
-19.5
EPS, basic
-1.46
0.12
-4.55
-8.23
-5.57
-7.71
4.24
-2.37
-0.68
-5.91
EPS, diluted
-1.46
0.12
-4.55
-8.23
-5.57
-7.71
4.24
-2.37
-0.68
-5.91
Shares, basic (weighted)
1
1.1
1.23
1.45
1.53
2.19
2.59
3.3
11.2
58.3
Shares, diluted (weighted)
1
1.1
1.23
1.45
1.53
2.19
2.59
3.66
11.2
58.3
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.97
3.31
1.2
0.48
0.38
0.71
0.06
0.01
7.18
6.22
Receivables
10.5
10
5.06
7.23
4.17
6.11
7.31
0
0.06
Inventory
16.3
0.76
0.8
1.35
1.63
1.1
0.37
Other current assets
0.76
0.51
1.04
1.14
1.14
1.42
0.39
0.08
0
0.38
Total current assets
28.5
21.1
8.94
8.84
6.94
7.56
9.17
0.35
34.4
29.5
Property, plant and equipment
10.1
0.54
0.21
0.32
0.73
2.11
2.71
0
0
0.03
Lease right-of-use assets
0
1.89
2.46
3.67
5.29
0
0.12
0.1
Goodwill
0.04
0
0
3.88
12.3
Intangible assets
0.06
24.7
21.4
17.7
14
0.27
20
17.8
18.7
23
Long-term investments
0
0.32
0.29
0
Other non-current assets
0.56
0.52
0.1
0.08
0.06
0.04
0.02
0.01
0
Total assets
41.9
46.9
35
29
24.4
15.2
46.8
18.5
75.7
1,219
Accounts payable
6.14
3.32
3.17
4.37
4.7
5.07
2.28
2.27
3.23
5.1
Accrued liabilities
8.89
2
1.12
3.94
4.89
5.23
1.01
3.63
2.52
8.54
Deferred revenue
0.23
0.3
0
0.52
0.29
0.02
0.29
0
1.2
Short-term debt
2.09
5.58
0.68
0.28
0.14
0.55
4.83
0
Total current liabilities
27.5
15.8
9.68
17.6
20.6
19.4
23.9
5.91
40.9
51.4
Long-term debt
2.83
0
0
1.32
1.34
0
11.8
8.75
Lease liabilities
0
0.85
1.39
2.47
3.82
0
0.11
0.11
Other non-current liabilities
0.36
0.31
0.2
0
0
0.68
0.05
0.03
0.11
Total liabilities
30.6
20.7
13.4
18.7
22
23.8
29.9
7.29
55.8
60.3
Total debt
4.47
5.58
0.26
0.28
0.14
1.87
6.17
0
0.56
0.56
Paid-in capital
22.4
37.6
38.7
39.3
39.9
45.7
45.7
47.3
62.9
1,551
Retained earnings
-11
-10.9
-16.5
-28.4
-36.9
-53.8
-42.8
-50.6
-58.2
-403
Other comprehensive income
-0.57
-0.49
-0.53
-0.53
-0.59
-0.62
-0.62
0
-2.32
-6.31
Shareholders' equity
10.8
26.2
21.6
10.3
2.37
-8.68
2.31
-3.31
12.4
1,152
Minority interests
0.41
0
0
3.65
3.5
Total equity
11.2
26.2
21.6
10.3
2.37
-8.68
2.31
-3.31
24.8
1,155
Total liabilities and equity
41.9
46.9
35
29
24.4
15.2
46.8
18.5
75.7
1,219
Shares outstanding
0
1.13
1.4
1.58
1.51
2.33
2.33
2.33
15.4
126
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-0.47
5.4
-5.61
-12
-8.5
-16.9
11
-7.81
-3.92
-345
Depreciation and amortization
0.96
2.15
4
4.08
4.12
4.19
0
1.45
1.32
3.34
Stock-based compensation
0.25
0.27
0.66
0.63
0.58
0.3
0.01
0.01
2.29
5.9
Deferred income tax
-0.1
0.44
-3.23
-87.6
Change in receivables
0.5
-1.16
3.95
-0.77
2.98
-0.62
-5.18
-0.37
3.9
-0.95
Change in inventory
1
0.26
-0.04
-0.55
-0.28
0.42
0.74
Change in payables
-0.36
-2.08
1.66
5.06
2.04
1.84
0.18
-1.05
2.99
6.12
Cash from operations
2.66
1.23
4.15
-3.51
-0.62
-5.29
-3.06
1.46
1.78
-7.16
Capital expenditures
-0.38
-0.02
-0.4
-0.21
-0.51
-1.66
-0.81
-0.01
Purchases of investments
-0.63
Sales and maturities of investments
0.95
0.9
0.52
Cash from investing
-0.41
7.33
-0.17
0.35
-0.83
-1.72
-1.51
-0.16
5.85
-707
Debt issued
1.24
0.56
Stock issued
0
0
5.54
0
0.79
0.85
750
Cash from financing
-3.22
-6.27
-6.11
2.46
1.4
7.37
3.98
-1.44
6.09
717
Net change in cash
-1
2.35
-2.12
-0.71
-0.1
0.33
-0.59
-0.11
7.17
-0.96
Free cash flow
2.28
1.2
3.74
-3.72
-1.12
-6.95
-3.87
-7.17
Interest paid
1.05
0.78
0.53
0.13
0.13
0.48
0.41
0.13
0.3
1.39
Income taxes paid
-0.87
0.05
0.2
0.26
0.03
0.04
0.11
0
0.02
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $0.52 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
55.0%
Gross profit / revenue.
Operating margin
-107.3%
Operating income / revenue.
EBITDA margin
-94.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-5,121.0%
Pre-tax income / revenue.
Net margin
-4,022.0%
Net income / revenue.
Operating cash flow margin
-91.1%
Cash from operations / revenue.
Return on equity (ROE)
-124.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-115.2%
Net income / average total assets.
Return on invested capital (ROIC)
-2.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
160.7%
Selling, general and administrative expense / revenue.
D&A / revenue
12.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
98.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-10.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-6.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
80.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 5y
2.9%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-502.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
9,153.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
693.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
244.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
1,510.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
196.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
118.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
420.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
182.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
107.2%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.60x
Current assets / current liabilities.
Quick ratio
0.24x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.24x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.00x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.0%
Total debt / total assets.
Liabilities / assets
6.7%
Total liabilities / total assets.
Net debt
-$5.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.15
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.14
Cash from operations / diluted weighted shares.
Book value per share
$4.78
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.49x
Market cap / revenue.
P/B
0.11x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.12x
Market cap / tangible book value, when positive.
EV/Sales
3.21x
Enterprise value / revenue.
Earnings yield
-1,154.0%
Net income / market cap (the inverse of P/E).
What was AI Financial Corp's revenue in fiscal 2025?
AI Financial Corp reported revenue of $24.8M for fiscal 2025, 98.2% higher than the year before.
Was AI Financial Corp profitable in fiscal 2025?
No. It reported a net loss of $344.5M.
How much free cash flow did AI Financial Corp generate in fiscal 2025?
Cash from operations of $7.2M minus capital expenditures of $11.0K left free cash flow of -$7.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.