Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data A2Z CUST2MATE SOLUTIONS 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
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
1.38
1.07
2.69
9.35
9.21
5.38
7.9
Cost of revenue
0.78
0.85
2.03
7.52
7.96
3.49
6.81
Gross profit
0.6
0.22
0.66
1.83
1.25
1.89
1.09
Research and development
0.41
0.42
3.22
4.46
4.1
3.85
9.94
Selling, general and administrative
2.37
6.49
13.6
13.1
7.95
23.7
Operating income
-2.68
-9.16
-16.7
-18.3
-12.9
-36.5
Interest expense
0.11
0.11
0.09
1.39
0.26
0.34
1.22
Interest income
0.08
0.09
0.16
0.62
Pre-tax income
-5.94
-40.1
-18.3
-18.1
-19.3
-38.5
Income tax
-0.38
0.02
0.14
Income from continuing operations
-17.2
-17.4
-36.1
Net income to minority interests
-0.75
Net income
-5.95
-39.2
-16.6
-16.1
-17
-37.7
EBITDA
-2.46
-8.84
-16.3
-17.9
-12.5
-36
EPS, basic
-4.20
-1.50
-1.15
-0.80
EPS, diluted
-4.20
-1.50
-1.15
-0.80
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.36
5.4
8.47
2.62
2.27
13.5
13.5
Receivables
1.26
0.35
0.43
2.57
0.66
0.58
2.94
Inventory
0.04
0.02
1.15
0.38
0.25
0.8
3.89
Total current assets
6.16
11
6.94
4.73
17.1
79.4
Property, plant and equipment
0.27
0.46
1.07
2.36
1.86
1.55
3.56
Goodwill
1.19
Intangible assets
2.24
2.09
2.21
1.85
0.64
Total assets
8.85
14.1
12.7
8.52
18.9
85.2
Accounts payable
1.99
0.38
1.1
0.96
2.53
0.92
2.2
Short-term debt
0.2
0.36
0.16
1.4
1.17
0.11
0.01
Total current liabilities
1.3
2.37
6.24
5.63
11.5
6.95
Lease liabilities
0.15
0.61
0.41
0.24
1.76
Total liabilities
10.8
3.22
9.81
10.8
12
8.74
Total debt
1.02
0.64
1.74
1.39
0.93
0.04
Retained earnings
-11.6
-50.8
-67.4
-83.5
-100
-138
Shareholders' equity
1.36
-2.49
11.5
5.29
2.49
13.9
78
Minority interests
0.52
-0.61
-2.4
-4.8
-7.07
-1.55
Total equity
1.36
-1.97
10.9
2.89
-2.31
6.84
76.4
Total liabilities and equity
8.85
14.1
12.7
8.52
18.9
85.2
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-5.95
-40.3
-18.3
-18.1
-19.3
-38.5
Depreciation and amortization
0.21
0.32
0.42
0.41
0.4
0.49
Cash from operations
-1.51
-1
-9.38
-9.43
-11.4
-11.7
-22.9
Capital expenditures
-0.23
-0.41
-0.73
-0.17
-0.14
-0.45
Cash from investing
-0.03
-0.43
-0.28
-1.56
-0.32
-0.27
-57
Debt repaid
-0.1
-0.32
-0.34
-0.48
-0.58
-0.81
Stock issued
8.25
8.36
3.89
10.3
24.4
65.7
Cash from financing
1.84
7.2
12.4
6.1
10.9
22.8
81.3
Exchange rate effect
-0.74
0.38
-0.96
0.47
0.31
-1.38
Free cash flow
-1.23
-9.79
-10.2
-11.6
-11.9
-23.4
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $5.45 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
13.8%
Gross profit / revenue.
Operating margin
-461.4%
Operating income / revenue.
EBITDA margin
-455.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-487.1%
Pre-tax income / revenue.
Net margin
-477.6%
Net income / revenue.
FCF margin
-295.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-289.9%
Cash from operations / revenue.
Return on equity (ROE)
-82.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-72.5%
Net income / average total assets.
Return on invested capital (ROIC)
-87.5%
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%.
R&D / revenue
125.9%
Research and development expense / revenue.
SG&A / revenue
300.6%
Selling, general and administrative expense / revenue.
Capex / revenue
5.7%
Capital expenditures / revenue.
D&A / revenue
6.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
47.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-5.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
49.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-42.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-15.8%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
38.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
460.6%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
145.2%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
351.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
88.6%
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
57.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
11.4x
Current assets / current liabilities.
Quick ratio
2.37x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.95x
(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
10.3%
Total liabilities / total assets.
Net debt
-$13.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Valuation
Metric
Value
How it is calculated
Market cap
$239.9M
Share price x shares outstanding.
Enterprise value
$226.5M
Market cap + total debt - cash - short-term investments.
P/S
30.4x
Market cap / revenue.
P/B
3.08x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.10x
Market cap / tangible book value, when positive.
EV/Sales
28.7x
Enterprise value / revenue.
FCF yield
-9.7%
Free cash flow / market cap.
Earnings yield
-15.7%
Net income / market cap (the inverse of P/E).
What was A2Z CUST2MATE SOLUTIONS CORP.'s revenue in fiscal 2025?
A2Z CUST2MATE SOLUTIONS CORP. reported revenue of $7.9M for fiscal 2025, 47% higher than the year before.
Was A2Z CUST2MATE SOLUTIONS CORP. profitable in fiscal 2025?
No. It reported a net loss of $37.7M.
How much free cash flow did A2Z CUST2MATE SOLUTIONS CORP. generate in fiscal 2025?
Cash from operations of $22.9M minus capital expenditures of $452.0K left free cash flow of -$23.4M.
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.