Cavitation Technologies, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Cavitation Technologies, 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1.8	1.9	1.3	1.09	1.66	0.56	1.62	0.43	1.36	0.2
Cost of revenue	0.12	0.1	0.12	0.07	0.04	0.02	0.04	0.12	0.16	0.04
Gross profit	1.68	1.8	1.18	1.02	1.62	0.54	1.62	0.31	1.21	0.17
Research and development	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0	0.06	0.1
Selling and marketing	0.05	0.03	0.02
General and administrative	1.21	2.01	1.51	1.72	1.47	1.26	1.73	1.2	0.71	1.06
Operating expenses	1.24	2.03	1.53	1.74	1.49	1.29	1.92	1.2	0.77	1.15
Operating income		-0.23	-0.35	-0.72	0.14	-0.75	-0.3	-0.89	0.44	-0.99
Interest expense					0	0.01	0.01	0.01	-0	0.01
Other non-operating income		-0	0.1		-0.01	0.1	-0.32	-1.15
Pre-tax income				-0.72	0.13	-0.65	-0.62	-2.04
Income tax	0			0	0	0	0	0
Net income	0.43	-0.23	-0.25	-0.72	0.13	-0.65	-0.62	-2.04	0.44	-0.11
EBITDA		-0.18	-0.3	-0.68	0.18	-0.73	-0.3	-0.88	0.44	-0.99
EPS, basic	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	0.00	0.00
EPS, diluted	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	0.00	0.00
Shares, basic (weighted)	194	195	197	198	197	197	249	282	284	286
Shares, diluted (weighted)	194	195	197	198	197	197	249	282	284	286

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.66	0.55	0.95	0.65	0.76	1.36	0.44	0.02	0.18	0.25
Receivables		0.09	0	0.24	0.1	0.01	0	0	0	0.01
Inventory	0.15	0.14	0.03	0.06	0.05	0.03	0.05	0	0
Other current assets					0	0	0.04	0	0.02	0.03
Total current assets	0.81	0.78	0.98	0.95	0.91	1.39	0.53	0.02	0.2	0.29
Property, plant and equipment	0.12	0.14	0.09	0.07	0.08	0.18	0	0	0
Lease right-of-use assets				0	0.31	0.25	0.18	0.11	0.04	0
Intangible assets	0.02	0
Total assets	0.96	0.93	1.08	1.02	1.3	1.83	1.87	0.14	0.25	0.3
Accounts payable	0.17	0.25	0.31	0.19	0.32	0.34	0.14	0.12	0.13	0.08
Accrued liabilities	0.99	0.99	0.89	0.89	0.69	0.67	0.28	0.28	0.41	0
Deferred revenue		0		0.76	0.37	0.73	0.08	0.39	0
Total current liabilities	1.6	1.24	1.62	1.84	1.43	1.8	0.56	0.86	0.6	0.08
Long-term debt				0	0.1	0.25	0.15	0.15	0.13	0.15
Lease liabilities				0	0.26	0.19	0.13	0.05	0	0
Total liabilities	1.6	1.24	1.62	1.84	1.79	2.24	0.84	1.06	0.73	0.23
Total debt						0.25	0.15	0.15	0.14	0.14
Paid-in capital	22.1	22.6	22.6	23.1	23.3	24	26	26.1	26.1	26.7
Retained earnings	-22.9	-23.1	-23.4	-24.1	-24	-24.6	-25.2	-27.3	-26.8	-27
Shareholders' equity	-0.64	-0.31	-0.55	-0.82	-0.49	-0.41	1.04	-0.92	-0.48	0.07
Total equity	-0.64	-0.31	-0.55	-0.82	-0.49	-0.41	1.04	-0.92	-0.48	0.07
Total liabilities and equity	0.96	0.93	1.08	1.02	1.3	1.83	1.87	0.14	0.25	0.3
Shares outstanding	194	197	197	197	197	208	277	284	284	289

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.43	-0.23	-0.25	-0.72	0.13	-0.65	-0.62	-2.04	0.44	-0.11
Depreciation and amortization	0.06	0.05	0.05	0.04	0.04	0.02	0	0	0	0
Stock-based compensation			0	0.45
Change in receivables		-0.09	0.09	-0.24	0.13	0.1	0.01	0	0	-0.01
Change in inventory	-0.04	0.01	0.11	-0.02	0.01	0.02	-0.02	0
Change in payables	-0.03	0.07	0.06	-0.12	-0.08		-0	-0.02	0.01	0
Cash from operations	-0.76	-0.05	0.4	-0.28	0.06	-0.25	-0.48	-0.42	0.17	-0.81
Capital expenditures	-0.06	-0.06	0	-0.02	-0.05	-0.13
Cash from investing	-0.06	-0.06	0	-0.02	-0.05	-0.13	-1.22	0	0	0.88
Stock issued	0				0	0.73	0.79	0
Cash from financing	0			0	0.1	0.98	0.79	0	-0.01	-0
Net change in cash	-0.82	-0.11	0.4	-0.3	0.11	0.6	-0.92	-0.42	0.16	0.07
Free cash flow	-0.82	-0.11	0.4	-0.3	0.01	-0.38
Interest paid	0	0	0	0	0	0	0	0	0	0.01
Income taxes paid	0	0	0	0	0	0	0	0	0	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $0.04 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-10,800.0%	Operating income / revenue.
Net margin	-10,800.0%	Net income / revenue.
Operating cash flow margin	-6,445.0%	Cash from operations / revenue.
Return on assets (ROA)	-1,800.0%	Net income / average total assets.
R&D / revenue	363.6%	Research and development expense / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-85.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-49.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-34.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-86.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-53.3%	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	-36.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-325.3%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-324.8%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-125.7%	Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-568.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-59.5%	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	19.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-45.9%	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	-25.6%	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	0.6%	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	4.8%	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	7.7%	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	0.14x	Current assets / current liabilities.
Quick ratio	0.13x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.12x	(Cash + short-term investments) / current liabilities.
Debt / assets	227.3%	Total debt / total assets.
Liabilities / assets	807.6%	Total liabilities / total assets.
Net debt	$105.0K	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-79.2x	Operating income / interest expense.
Working capital	-$328.0K	Current assets - current liabilities.
Tangible book value	-$467.0K	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.17x	Revenue / average total assets.
Receivables turnover	3.67x	Revenue / average receivables.
Days sales outstanding	100 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.00	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	$0.00	Revenue / diluted weighted shares.
Operating cash flow per share	-$0.00	Cash from operations / diluted weighted shares.
Book value per share	-$0.00	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.00	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$12.9M	Share price x shares outstanding.
Enterprise value	$13.1M	Market cap + total debt - cash - short-term investments.
P/S	1,177x	Market cap / revenue.
EV/Sales	1,186x	Enterprise value / revenue.
Earnings yield	-9.2%	Net income / market cap (the inverse of P/E).

What was Cavitation Technologies, Inc.'s revenue in fiscal 2025?

Cavitation Technologies, Inc. reported revenue of $203.0K for fiscal 2025, 85.1% lower than the year before.

Was Cavitation Technologies, Inc. profitable in fiscal 2025?

No. It reported a net loss of $113.0K.

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.

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