Dalrada Technology Group, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Dalrada Technology Group, 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	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	0	0.07	1.18	3.41	19.3	29.7	19.8	20.3
Cost of revenue	0	0.07	0.63	2.47	8.76	20.7	18.9	15
Gross profit	0	-0	0.55	0.93	10.5	9.06	0.98	5.3
Research and development	0	0.05	0.47	0.52	0.66	0.12	0	0
Selling, general and administrative	0.09	0.72	2.77	8.98	20.1	29.5	27.8	23
Operating expenses	0.09	1.04	3.24	9.5	20.9	30	27.8	25.8
Operating income		-1.05	-2.69	-8.57	-10.4	-21	-26.8	-20.5
Interest expense	0.95	0.85	1.04	0.67	1.3	2.55	1.24	-4.2
Other non-operating income	-0.95	1.41	0.21	8.57	-1	0.33	-2.34	-4.2
Pre-tax income	-0.09	-0.77	-2.48	0	-11.4	-20.6	-29.2	-24.7
Income tax	0	0	0	0	0.13	0	0.01	0.01
Net income to minority interests		0	-0.01	-0.09	2.53	-0.34	-0.24	-0.03
Net income	-1.04	0.37	-2.47	0.09	-14.1	-20.3	-28.9	-24.6
EBITDA		-1.05	-2.64	-8.49	-10.2	-20.6	-26	-19.5
EPS, basic	-0.02	0.01	-0.04	0.00	-0.20	-0.24	-0.31	-0.23
EPS, diluted	-0.02	0.00	-0.04	0.00	-0.20	-0.24	-0.31	-0.23
Shares, basic (weighted)	47.3	47.4	56.8	70.3	72.2	83.8	92.2	108
Shares, diluted (weighted)	47.3	103	56.8	129	72.2	83.8	92.2	108

Balance sheet

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.01	0	0.08	0.11	0.77	0.81	0.5	0.17
Receivables	0	0.03	0.27	0.27	6.41	4.45	2.86	2.75
Inventory	0	0.02	0.65	0.84	1.62	2.08	2.65	2.69
Other current assets		0	0.12	0.29	0.43	1.34	0.67	0.71
Total current assets	0.01	0.05	1.25	1.64	9.56	9.82	8.61	7.74
Property, plant and equipment	0	0.01	0.24	0.49	1.08	1.48	1.45	1.27
Lease right-of-use assets		0	0.32	0.53	1.67	2.77	2.44	2.63
Goodwill		0	0.14	0.74	4.25	3.8	4.18	1.53
Intangible assets			0	0.66	3.52	3.86	3.55	3.11
Other non-current assets			0.03
Total assets	0.01	0.05	2.78	4.7	22.4	25.2	23.1	18.4
Accounts payable	0	0.03	0.3	0.91	2.33	5.18	5.87	4.18
Accrued liabilities	1.62	0.02	0.23	0.64	1.8	1.08	1.02	1.26
Deferred revenue		0	0.18	0.22	0.72	1.34	1.57	1.51
Total current liabilities		13.7	17	17.2	20.4	10	15.7	15.7
Long-term debt			0	0	0.48	1.01	1.04	4.93
Lease liabilities		0	0.29	0.46	1.23	2.16	1.69	1.85
Total liabilities	14	13.7	17.9	18.1	37.4	20.9	19.7	25
Paid-in capital	91.1	91.1	91.9	93	105	145	152	176
Retained earnings	-105	-105	-107	-107	-121	-142	-171	-195
Other comprehensive income		0	-0.01	0.03	-0.05	-0.05	-0	-0.15
Shareholders' equity	-14	-13.6	-15.1	-13.4	-15.4	4.11	3.44	-6.75
Minority interests		0	0.05	-0.04	0.48	0.14	-0.09	0.07
Total equity	-14	-13.6	-15.1	-13.4	-15	4.25	3.35	-6.69
Total liabilities and equity	0.01	0.05	2.78	4.7	22.4	25.2	23.1	18.4
Shares outstanding	47.3	48.3	68.5	73.8	72.2	88.7	97.2	120

Cash flow statement

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-1.04	0.37	-2.47	0.09	-11.6	-20.6	-29.2	-24.7
Depreciation and amortization		0	0.05	0.08	0.25	0.36	0.89	1
Stock-based compensation			0	0.8	2.77	4.02	5.09	1.93
Deferred income tax	0.01	0.21	0.67	-2.05	-2.86	-4.18	-6.51	-5.88
Change in receivables	0	-0.03	-0.14	0.03	-7.38	-3.9	-1.38	0.21
Change in inventory	0	-0.02	-0.52	-0.19	-0.61	-0.45	-0.57	-0.04
Change in payables	0	0.01	0.15	0.56	1.12	2.82	0.69
Cash from operations	-0.03	-0.82	-2.39	-5.58	-10.3	-4.61	-7.87	-18
Capital expenditures	0	-0.01	-0.19	-0.36	-0.64	-0.69	-0.43	-0.37
Acquisitions							0	-0.32
Cash from investing	0	-0.01	0.01	-0.39	-0.57	-1.06	-0.55	-0.7
Stock issued							0.6	0.01
Cash from financing	0.04	0.82	2.46	5.96	11.7	5.72	8.07	18.8
Exchange rate effect		0	-0.01	0.04	-0.08	-0	0.05	-0.15
Net change in cash	0.01	-0	0.07	-0.01	0.74	0.04	-0.36	0.15
Free cash flow	-0.03	-0.83	-2.59	-5.94	-11	-5.31	-8.31	-18.3
Interest paid	0	0	0	0	0	0.01	0.62	3.2
Income taxes paid	0	0	0	0	0.08	0.14	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 $0.01 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	26.4%	Gross profit / revenue.
Operating margin	-108.6%	Operating income / revenue.
EBITDA margin	-102.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-131.4%	Pre-tax income / revenue.
Net margin	-131.8%	Net income / revenue.
Operating cash flow margin	-108.4%	Cash from operations / revenue.
Return on assets (ROA)	-122.8%	Net income / average total assets.
R&D / revenue	0.0%	Research and development expense / revenue.
SG&A / revenue	118.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	4.2%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	6.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	76.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	438.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-20.4%	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	57.2%	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	-296.3%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-20.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-6.4%	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	45.8%	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	17.6%	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	14.5%	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	13.8%	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	0.27x	Current assets / current liabilities.
Quick ratio	0.08x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.00x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	217.5%	Total liabilities / total assets.
Working capital	-$22.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	24.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$25.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.93x	Revenue / average total assets.
Fixed asset turnover	18.3x	Revenue / average property, plant and equipment.
Inventory turnover	4.46x	Cost of revenue / average inventory.
Days inventory	82 days	365 x average inventory / cost of revenue.
Receivables turnover	6.92x	Revenue / average receivables.
Days sales outstanding	53 days	365 x average receivables / revenue.
Days payables	133 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	1 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.20	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	-$0.16	Cash from operations / diluted weighted shares.
Book value per share	-$0.17	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.21	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	$1.1M	Share price x shares outstanding.
Enterprise value	$998.8K	Market cap + total debt - cash - short-term investments.
P/S	0.07x	Market cap / revenue.
EV/Sales	0.06x	Enterprise value / revenue.
Earnings yield	-2,011.0%	Net income / market cap (the inverse of P/E).

What was Dalrada Technology Group, Inc.'s revenue in fiscal 2025?

Dalrada Technology Group, Inc. reported revenue of $20.3M for fiscal 2025, 2.3% higher than the year before.

Was Dalrada Technology Group, Inc. profitable in fiscal 2025?

No. It reported a net loss of $24.6M.

How much free cash flow did Dalrada Technology Group, Inc. generate in fiscal 2025?

Cash from operations of $18.0M minus capital expenditures of $374.5K left free cash flow of -$18.3M.

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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