Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KELSO 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
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
8.08
6.06
12.7
20.6
11.1
7.43
10.9
10.8
10.7
10.8
Cost of revenue
6.1
5.04
7.43
11
6.36
4.23
6.02
6.24
5.99
6.35
Gross profit
1.98
1.02
5.29
9.58
4.79
3.2
4.91
4.58
4.69
4.43
Research and development
0.7
1.57
1.35
1.13
1.39
1.7
0.47
0.53
0.37
0.28
General and administrative
2.08
1.7
1.67
2.22
2.07
2.24
1.89
2.08
2.19
1.9
Operating income
-3.48
-4.94
0.33
3.5
-0.98
-3.06
0.29
0.22
-0.83
0.44
Pre-tax income
-3.45
-5.17
-0.06
3.43
-1.06
-2.59
0.34
0.05
-1.42
0.48
Income tax
-0.99
-0.15
-0.25
0.1
0.25
0.17
0.17
0.17
0.24
-0.07
Income from continuing operations
0.18
-0.12
-1.65
0.55
Net income
-2.47
-5.02
0.19
3.33
-1.31
-2.76
-1.36
-2.1
-4.62
0.45
EBITDA
-3.48
-4.93
0.36
3.56
-0.84
-2.62
0.61
0.23
-0.82
0.46
EPS, basic
-0.05
-0.11
0.00
0.07
-0.03
-0.05
-0.02
-0.04
-0.08
0.01
EPS, diluted
-0.05
-0.11
0.00
0.07
-0.03
-0.05
-0.02
-0.04
-0.08
0.01
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2.31
0.41
1.25
4.42
1.05
3.38
2.71
1.43
0.15
0.4
Receivables
0.64
0.65
1.22
1.82
0.54
0.81
1.38
1.07
1.09
0.63
Inventory
5.21
3.98
3.67
3.39
5.46
5.53
4.14
3.38
3.04
2.21
Total current assets
9.62
5.23
6.25
9.73
7.21
9.88
8.33
6.01
4.41
3.32
Property, plant and equipment
3.19
2.99
3.09
3.39
4.2
3.25
3.28
3.16
2.16
1.99
Intangible assets
0.23
0.94
0.61
0.61
0.61
0.47
0.47
0.47
0
0
Total assets
13.1
9.17
9.94
13.7
12
13.7
12.1
9.7
6.57
5.47
Accounts payable
0.27
0.88
1.31
1.64
0.81
1.12
1.18
0.93
2.14
0.63
Total current liabilities
1.11
1.6
1.78
1.8
0.96
1.21
1.33
0.98
2.28
0.78
Lease liabilities
0.09
0.1
0.2
0.03
0
0.06
0.02
Total liabilities
1.28
1.6
1.78
1.89
1.06
1.67
1.37
0.98
2.34
0.79
Retained earnings
-14.3
-19.3
-19.1
-15.8
-17.1
-19.8
-21.2
-23.3
-27.9
-27.5
Total equity
11.8
7.57
8.17
11.8
11
12.1
10.8
8.72
4.23
4.68
Total liabilities and equity
13.1
9.17
9.94
13.7
12
13.7
12.1
9.7
6.57
5.47
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-2.47
-5.02
0.19
3.33
-1.31
-2.76
-1.36
-2.1
-4.62
0.45
Depreciation and amortization
0
0.02
0.03
0.07
0.14
0.44
0.32
0.01
0.02
0.01
Cash from operations
-1.14
-1.63
1.21
3.62
-1.56
-1.82
0.31
-0.28
-0.39
0.11
Capital expenditures
-0.04
-0.03
-0.37
-0.43
-1.71
-0.13
0
0
-0.01
0
Cash from investing
-0.06
-0.39
-0.37
-0.43
-1.71
-0.4
-0.88
-0.85
-0.75
0.11
Stock issued
0.15
0
0
0
0
4.59
0
0
Dividends paid
0
0
Cash from financing
0.15
0
0
-0.02
-0.09
4.54
-0.14
-0.16
-0.14
-0.08
Exchange rate effect
0.19
0.12
-0
0
0
0.01
0.03
-0
0
0.1
Net change in cash
-0.86
-1.9
0.84
3.17
-3.37
2.33
-0.67
-1.28
-1.28
0.25
Free cash flow
-1.18
-1.66
0.84
3.19
-3.28
-1.95
0.31
-0.28
-0.41
0.11
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.09 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
41.1%
Gross profit / revenue.
Operating margin
4.1%
Operating income / revenue.
EBITDA margin
4.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
4.5%
Pre-tax income / revenue.
Net margin
4.1%
Net income / revenue.
FCF margin
1.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
1.0%
Cash from operations / revenue.
Effective tax rate
-13.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
7.4%
Net income / average total assets.
R&D / revenue
2.6%
Research and development expense / revenue.
Capex / revenue
0.0%
Capital expenditures / revenue.
D&A / revenue
0.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
1.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-0.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-0.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-5.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-3.3%
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
-1.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y
14.9%
Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 3y
-9.2%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y
-29.7%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y
-29.7%
Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-16.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-23.4%
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
-14.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.27x
Current assets / current liabilities.
Quick ratio
1.33x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.51x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
14.5%
Total liabilities / total assets.
Working capital
$2.5M
Current assets - current liabilities.
Goodwill and intangibles / assets
0.0%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
1.79x
Revenue / average total assets.
Fixed asset turnover
5.19x
Revenue / average property, plant and equipment.
Inventory turnover
2.42x
Cost of revenue / average inventory.
Days inventory
151 days
365 x average inventory / cost of revenue.
Receivables turnover
12.5x
Revenue / average receivables.
Days sales outstanding
29 days
365 x average receivables / revenue.
Days payables
79 days
365 x average accounts payable / cost of revenue.
Cash conversion cycle
101 days
Days inventory + days sales outstanding - days payables.
FCF conversion
24.4%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
0.0%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.01
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.
EPS, basic
$0.01
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$4.9M
Share price x shares outstanding.
Enterprise value
$4.5M
Market cap + total debt - cash - short-term investments.
P/E
11.0x
Market cap / net income. Only when net income is positive.
P/S
0.46x
Market cap / revenue.
P/FCF
45.0x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
45.0x
Market cap / cash from operations, when positive.
EV/Sales
0.42x
Enterprise value / revenue.
EV/EBIT
10.2x
Enterprise value / operating income, when both are positive.
EV/EBITDA
9.86x
Enterprise value / EBITDA, when both are positive.
EV/FCF
41.4x
Enterprise value / free cash flow, when both are positive.
FCF yield
2.2%
Free cash flow / market cap.
Earnings yield
9.1%
Net income / market cap (the inverse of P/E).
What was KELSO TECHNOLOGIES INC's revenue in fiscal 2025?
KELSO TECHNOLOGIES INC reported revenue of $10.8M for fiscal 2025, 1% higher than the year before.
Was KELSO TECHNOLOGIES INC profitable in fiscal 2025?
Yes. Net income was $447.4K, a net margin of 4.1%.
How much free cash flow did KELSO TECHNOLOGIES INC generate in fiscal 2025?
Cash from operations of $109.3K minus capital expenditures of $0.0 left free cash flow of $109.3K.
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.