Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data IP STRATEGY HOLDINGS, 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
FY2024
FY2024
FY2025
Revenue
7.97
8.4
10.1
Cost of revenue
0.23
6.28
4.56
Gross profit
2.15
2.13
5.56
Selling and marketing
5.94
6.04
5.5
General and administrative
7.48
11
12.4
Operating expenses
13.4
17
140
Operating income
-11.3
-14.9
-134
Interest expense
2.53
2.54
1.64
Other non-operating income
-25.5
15.6
-3.78
Pre-tax income
-36.8
0.72
-138
Income tax
0.01
0.01
-0.01
Net income
-36.8
0.71
-138
EBITDA
-9.83
-13.6
-133
EPS, basic
-1,932.00
0.98
-16.03
EPS, diluted
-1,932.00
-39.46
-16.03
Shares, basic (weighted)
0.02
0.06
8.62
Shares, diluted (weighted)
0.02
0.35
8.62
Dividend per share
0.00
0.00
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
0.08
0.45
0.45
Receivables
0.72
0.64
0.35
Inventory
2.76
2.47
1.64
Other current assets
1.72
0.36
0.51
Total current assets
5.27
3.92
2.75
Property, plant and equipment
6.43
5.45
1.24
Lease right-of-use assets
3.66
3.3
2.13
Goodwill
0
0.59
0
Intangible assets
0
0.42
0
Other non-current assets
0.04
0.03
0.02
Total assets
26.3
28
109
Accounts payable
5.23
4.98
1.98
Accrued liabilities
1.15
0.95
1.59
Total current liabilities
62.8
13.8
8.89
Lease liabilities
3.08
2.81
1.44
Other non-current liabilities
0
0.13
0
Total liabilities
69.7
27.2
10.5
Total debt
14.3
13.2
2.57
Paid-in capital
31.4
74.9
310
Retained earnings
-74.8
-74.1
-212
Shareholders' equity
-43.4
0.79
98.2
Total equity
-43.4
0.79
98.2
Total liabilities and equity
26.3
28
109
Shares outstanding
0.02
0.26
0.48
Cash flow statement
FY2024
FY2024
FY2025
Net income
-36.8
0.71
-138
Depreciation and amortization
1.43
1.28
1.06
Stock-based compensation
0.02
4.89
4.49
Change in receivables
-0.23
0.08
0.29
Change in inventory
0.89
1.41
0.48
Change in payables
1.08
-0.67
-3
Cash from operations
-8.48
-11.2
-15.3
Capital expenditures
-0.03
-0.11
-0.07
Cash from investing
-0.02
-0.1
-16.5
Stock issued
0
5.96
0
Share buybacks
-0.01
-0
-0
Cash from financing
8.36
11.7
31.6
Net change in cash
-0.15
0.38
-0.21
Free cash flow
-8.51
-11.3
-15.4
Interest paid
2.09
2.19
3.62
Income taxes paid
0.01
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 $3.71 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
60.1%
Gross profit / revenue.
Operating margin
-1,843.0%
Operating income / revenue.
EBITDA margin
-1,835.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1,876.0%
Pre-tax income / revenue.
Net margin
-1,876.0%
Net income / revenue.
FCF margin
-147.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-146.7%
Cash from operations / revenue.
Return on equity (ROE)
-621.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-471.0%
Net income / average total assets.
Return on invested capital (ROIC)
-448.1%
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%.
Stock-based pay / revenue
50.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.5%
Capital expenditures / revenue.
D&A / revenue
7.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
20.4%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
161.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-19,484.0%
Net income vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
12,305.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
288.4%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
2,336.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.43x
Current assets / current liabilities.
Quick ratio
0.03x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.01x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.08x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
6.0%
Total debt / total assets.
Liabilities / assets
24.2%
Total liabilities / total assets.
Net debt
$2.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$405.92
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
$21.64
Revenue / diluted weighted shares.
FCF per share
-$31.86
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$31.74
Cash from operations / diluted weighted shares.
Book value per share
$63.04
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.25x
Market cap / revenue.
P/B
0.08x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.08x
Market cap / tangible book value, when positive.
EV/Sales
0.48x
Enterprise value / revenue.
FCF yield
-590.5%
Free cash flow / market cap.
Earnings yield
-7,524.0%
Net income / market cap (the inverse of P/E).
What was IP STRATEGY HOLDINGS, INC.'s revenue in fiscal 2025?
IP STRATEGY HOLDINGS, INC. reported revenue of $10.1M for fiscal 2025, 20.4% higher than the year before.
Was IP STRATEGY HOLDINGS, INC. profitable in fiscal 2025?
No. It reported a net loss of $137.7M.
How much free cash flow did IP STRATEGY HOLDINGS, INC. generate in fiscal 2025?
Cash from operations of $15.3M minus capital expenditures of $74.8K left free cash flow of -$15.4M.
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.