Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Smartbird, Inc. 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
194
219
277
298
254
190
152
Cost of revenue
94.8
107
131
168
150
109
89.9
Gross profit
98.8
113
147
130
104
81.1
62.6
Selling, general and administrative
63.5
86.7
122
167
174
133
92.5
Operating expenses
108
142
180
230
257
179
143
Operating income
-9.01
-29.2
-32.9
-100
-153
-97.6
-80
Interest expense
0.1
0.3
0.18
Other non-operating income
-1.74
-0.45
-11.5
0.14
-0.44
3.05
4.14
Pre-tax income
-10.9
-30
-44.6
-100
-152
-91.4
-76.9
Income tax
3.68
-4.11
0.81
1.23
0.33
1.87
0.39
Net income
-14.5
-25.9
-45.4
-101
-152
-93.3
-77.3
EBITDA
-5.64
-22.1
-23.2
-85.6
-132
-85.2
-71.9
EPS, basic
-5.57
-9.75
-12.94
-13.53
-20.10
-11.87
-9.47
EPS, diluted
-5.57
-9.75
-12.94
-13.53
-20.10
-11.87
-9.47
Shares, basic (weighted)
2.59
2.66
3.48
7.47
7.58
7.86
8.16
Shares, diluted (weighted)
2.59
2.66
3.48
7.47
7.58
7.86
8.16
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
75
127
289
167
130
66.7
26.7
Receivables
1.96
11
9.21
8.19
6.17
6.84
Inventory
59.2
107
117
57.8
44.1
38.9
Other current assets
27.1
37.9
15.8
16.4
13.5
9.71
Total current assets
215
444
309
212
131
82.1
Property, plant and equipment
23.3
38
54.3
26.1
17.8
10.5
Lease right-of-use assets
0
91.2
67.1
38.1
13.1
Other non-current assets
5.9
6.11
7.86
7.13
2.41
1.33
Total assets
244
488
462
313
189
109
Accounts payable
20.2
30.7
12.2
5.85
10.8
0.55
Accrued liabilities
10.7
17.8
13
13.4
11.6
10.5
Deferred revenue
2.93
4.19
4.06
4.55
3.9
1.7
Total current liabilities
54.7
81.2
50
48.6
44.4
40.6
Lease liabilities
0
95.6
78.7
42.8
15.5
Other non-current liabilities
5
10.3
0
0.04
0.03
0
Total liabilities
65.5
91.4
146
127
87.2
73.5
Total debt
0
17.4
Paid-in capital
64.5
534
559
580
592
602
Retained earnings
-92
-137
-239
-391
-485
-562
Treasury stock
0
Other comprehensive income
1.96
0.67
-3.61
-3.34
-5.68
-3.87
Shareholders' equity
-9.12
-25.5
397
317
185
102
35.9
Total equity
-9.12
-25.5
397
317
185
102
35.9
Total liabilities and equity
244
488
462
313
189
109
Shares outstanding
2.7
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-14.5
-25.9
-45.4
-101
-152
-93.3
-77.3
Depreciation and amortization
3.38
7.09
9.65
14.7
21
12.4
8.02
Stock-based compensation
4.25
6.78
11.2
19.9
19.3
11.5
7.76
Deferred income tax
3.04
-0.35
0.25
-0.9
-0.47
0.91
0.05
Change in receivables
-0.06
-0.74
-9.11
1.61
1
1.96
-0.64
Change in inventory
-10.8
-13.9
-48.5
-24.7
47.5
6.9
3.01
Change in payables
16.2
1.25
25.2
-37.6
-6.71
1.02
2.59
Cash from operations
0.04
-34.6
-50.9
-90.6
-30.2
-63.9
-55.1
Capital expenditures
-13.1
-14.4
-24.2
-31.4
-10.9
-4.1
-3.15
Cash from investing
-15.2
-16.3
-25.6
-32.3
-7.71
2.12
-1.9
Stock issued
0.59
0
0
1.2
0.33
0.25
0.01
Cash from financing
25.7
102
238
3.58
0.64
0.29
16.1
Exchange rate effect
-0.04
0.91
-0.34
-1.52
0.2
-1.64
0.88
Net change in cash
10.5
52.2
161
-121
-37.1
-63.1
-40
Free cash flow
-13.1
-48.9
-75
-122
-41.1
-68
-58.2
Interest paid
0.06
0.24
0.12
0.09
0.11
0.12
0.06
Income taxes paid
0.18
0.11
0.44
1.42
1.79
1.7
0.12
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.32 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
26.3%
Gross profit / revenue.
Operating margin
-58.3%
Operating income / revenue.
Pre-tax margin
-50.3%
Pre-tax income / revenue.
Net margin
-52.9%
Net income / revenue.
Return on equity (ROE)
-341.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-167.0%
Net income / average total assets.
SG&A / revenue
49.9%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
4.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
3.1%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-19.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-20.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-7.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-22.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-21.6%
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
-11.1%
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
-64.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-51.6%
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
-42.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-38.1%
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
-14.8%
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
3.8%
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
3.0%
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
25.1%
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
3.70x
Current assets / current liabilities.
Quick ratio
3.38x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.38x
(Cash + short-term investments) / current liabilities.
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
$15.87
Revenue / diluted weighted shares.
Book value per share
$2.46
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.19x
Market cap / revenue.
P/B
1.22x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.22x
Market cap / tangible book value, when positive.
Earnings yield
-281.0%
Net income / market cap (the inverse of P/E).
What was Smartbird, Inc.'s revenue in fiscal 2025?
Smartbird, Inc. reported revenue of $152.5M for fiscal 2025, 19.7% lower than the year before.
Was Smartbird, Inc. profitable in fiscal 2025?
No. It reported a net loss of $77.3M.
How much free cash flow did Smartbird, Inc. generate in fiscal 2025?
Cash from operations of $55.1M minus capital expenditures of $3.1M left free cash flow of -$58.2M.
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.