Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Nuburu, 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
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
1.44
2.09
0.15
0
Cost of revenue
4.86
5.7
2.21
0.18
Gross profit
-3.42
-3.61
-2.05
-0.18
Research and development
4.55
5.46
1.82
0.17
Selling and marketing
0.71
1.54
0.47
4.67
General and administrative
5.32
11.1
8.81
13.3
Operating expenses
10.6
18.1
11.1
18.2
Operating income
-5.57
-14
-21.7
-13.2
-18.4
Interest expense
0.18
0.86
3.35
0.47
Interest income
0.12
0.04
0.12
0.02
0.01
Other non-operating income
23.4
0
0
0.22
-1.45
Pre-tax income
17.8
-29.5
-20.7
-34.5
-79.1
Income tax
0
0
0
0
0
Net income
17.8
-29.5
-20.7
-34.5
-79.1
EBITDA
-13.5
-21.2
-12.4
-17.9
EPS, basic
-27.01
-3.15
-29.51
-2.25
EPS, diluted
-27.01
-3.15
-29.51
-2.25
Shares, basic (weighted)
1.09
6.62
1.17
31.9
Shares, diluted (weighted)
1.09
6.62
1.17
31.9
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.48
2.88
2.15
0.21
24.7
Receivables
0.33
0.48
0
0
Inventory
0.97
1.46
1.53
Other current assets
0.11
0.01
0
0.01
0.01
Total current assets
0.59
8.49
4.29
1.9
45.8
Property, plant and equipment
3.77
5.65
4.83
Lease right-of-use assets
0.64
0.59
0.2
Other non-current assets
0.03
0.03
0.03
Total assets
335
13.1
10.6
6.97
49.8
Accounts payable
3.87
4.46
4.74
6.3
2.13
Accrued liabilities
2.31
2.5
4.3
3.28
Deferred revenue
0.18
0.03
0.02
0
Short-term debt
25.9
Total current liabilities
3.98
30
9.78
20.8
61.4
Lease liabilities
0.37
0.24
Total liabilities
29.4
30.4
19.2
20.9
65
Total debt
22.7
9.12
9.24
25.5
Paid-in capital
59.3
64.7
94
185
Retained earnings
-28.6
-76.6
-97.3
-132
-200
Shareholders' equity
9.58
-17.2
-32.5
-37.8
-15.2
Total equity
9.58
-17.2
-32.5
-37.8
-15.2
Total liabilities and equity
335
13.1
10.6
6.97
49.8
Shares outstanding
1.11
0.18
4.06
2.32
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
17.8
-29.5
-20.7
-34.5
-79.1
Depreciation and amortization
0.45
0.51
0.79
0.45
Stock-based compensation
2.36
2.49
1.87
1.79
Change in receivables
-0.1
-0.16
0.48
Change in inventory
-0.2
-1.61
-0.2
Change in payables
3.66
0.63
2.72
1.59
2.03
Cash from operations
-1.75
-10.2
-17.5
-6.62
-16.1
Capital expenditures
-0.54
-1.17
-4.71
Cash from investing
-0.54
-1.17
-16.7
Debt repaid
-3.11
Stock issued
0.15
0.01
0.2
Share buybacks
-303
Cash from financing
-0.02
7.64
18
4.68
58.1
Net change in cash
-1.77
-3.13
-0.73
-1.94
25.3
Free cash flow
-10.8
-18.7
-20.8
Interest paid
0.85
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 $0.96 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-61.5%
Gross profit / revenue.
Operating margin
-2,621.0%
Operating income / revenue.
EBITDA margin
-2,595.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-6,049.0%
Pre-tax income / revenue.
Net margin
-6,049.0%
Net income / revenue.
Operating cash flow margin
-2,917.0%
Cash from operations / revenue.
Return on equity (ROE)
-556.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-81.6%
Net income / average total assets.
Return on invested capital (ROIC)
-46.9%
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
30.6%
Research and development expense / revenue.
Stock-based pay / revenue
150.3%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
26.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-100.0%
Revenue vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
614.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
56.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
2,628.0%
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
207.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.62x
Current assets / current liabilities.
Quick ratio
0.02x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.01x
(Cash + short-term investments) / current liabilities.
Debt / equity
3.13x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
45.9%
Total debt / total assets.
Liabilities / assets
84.0%
Total liabilities / total assets.
Net debt
$31.0M
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
$0.19
Revenue / diluted weighted shares.
Operating cash flow per share
-$5.44
Cash from operations / diluted weighted shares.
Book value per share
$1.68
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
9.49x
Market cap / revenue.
P/B
0.87x
Market cap / shareholders' equity. Only when equity is positive.
EV/Sales
42.7x
Enterprise value / revenue.
Earnings yield
-637.7%
Net income / market cap (the inverse of P/E).
What was Nuburu, Inc.'s revenue in fiscal 2025?
Nuburu, Inc. reported revenue of $0.0 for fiscal 2025, 100% lower than the year before.
Was Nuburu, Inc. profitable in fiscal 2025?
No. It reported a net loss of $79.1M.
How much free cash flow did Nuburu, Inc. generate in fiscal 2025?
Cash from operations of $16.1M minus capital expenditures of $4.7M left free cash flow of -$20.8M.
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.