KOSS CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KOSS CORP 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	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	24.1	23.5	21.8	18.3	19.5	17.7	13.1	12.3	12.6	13
Cost of revenue	17.2	17	15	12.6	12.8	11	8.64	8.08	7.85	7.57
Gross profit	6.9	6.56	6.82	5.66	6.73	6.72	4.46	4.19	4.77	5.45
Research and development	0.21	0.43		0.4	0.41	0.29	0.29	0.24	0.21	0.23
Selling, general and administrative	7.6	6.92	6.54	6.15	7.12	5.81	29.3	6.06	6.51	6.96
Operating income		-0.36	0.28	-0.48	-0.39	0.9	-24.9	-1.87	-1.74	-1.51
Interest expense	0	0.01	0	0	0	0	0	0	0	0
Interest income									0.88	0.88
Other non-operating income					0.89	0.36	33
Pre-tax income	-0.77	-0.37	0.28	-0.46	0.5	1.28	8.64	-1.02	-0.86	-0.38
Income tax	0.19	3.04	-0.03	0	0	0.01	0.32	-0.07	0.02	0.01
Net income	-0.96	-3.41	0.31	-0.47	0.49	1.27	8.32	-0.95	-0.87	-0.39
EBITDA		0.16	0.71	-0.15	-0.09	1.2	-24.7	-1.68	-1.5	-1.22
EPS, basic	-0.09	-0.31	0.04	-0.06	0.06	0.14	0.90	-0.10	-0.09	-0.04
EPS, diluted	-0.09	-0.31	0.04	-0.06	0.05	0.13	0.85	-0.10	-0.09	-0.04
Shares, basic (weighted)	11.1	11.1	7.4	7.4	7.86	9.07	9.19	9.25	9.36	9.46
Shares, diluted (weighted)	11.1	11.1	7.41	7.4	9.64	9.99	9.75	9.25	9.36	9.46

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	0.43	1.08	2.23	4	6.95	9.21	3.09	2.84	2.81	3.02
Short-term investments							17.1	12.1	12.9	16.8
Receivables	3.93	4.71	3.66	2.32	2.24	1.85	1.38	1.21	1.14	1.22
Inventory	8.35	6.14	6.85	5.54	5.9	8.63	6.42	4.47	4.89	4.59
Other current assets	0.21	0.21	0.13	0.27	0.46	0.19	1	1.08	0.74	0.24
Total current assets	12.9	12.2	12.9	12.1	15.5	19.9	29.1	21.9	22.6	26
Property, plant and equipment	1.41	1.13	0.89	0.98	1.28	1.09	0.95	1.22	1.48	1.5
Lease right-of-use assets		3.1	2.85	2.58	2.31	3.25	3.02	2.77	2.52	2.26
Long-term investments								4.99	4
Other non-current assets	9.07	9.48	9.43	9.46	9.49	8.99	9.04	14.1	13.1	9.16
Total assets	23.4	22.8	23.2	22.6	26.3	30	39.1	37.2	37.2	36.7
Accounts payable	2.24	1.43	1.44	0.83	0.4	0.8	0.27	0.33	0.82	0.29
Accrued liabilities	1.15	0.79	0.65	0.58	0.67	0.56	1.34	0.46	0.58	1.01
Deferred revenue		0.69	0.65	0.42	0.69	0.54	0.45	0.23	0.24	0.24
Short-term debt				0.51
Total current liabilities	3.39	3.16	3	2.62	2.05	2.13	2.38	1.3	1.94	1.86
Lease liabilities		2.85	2.58	2.31	2.02	3.02	2.79	2.54	2.29	2.02
Other non-current liabilities	0.16	0
Total liabilities	5.85	8.57	8.16	7.42	6.75	7.26	7.28	6.05	6.57	6.5
Paid-in capital	5.42	5.75	6.33	6.88	10.8	12.7	13.1	13.4	13.7	13.8
Retained earnings	12.1	8.41	8.7	8.24	8.73	10.3	18.6	17.7	16.8	16.4
Other comprehensive income										-0.1
Shareholders' equity	17.6	14.2	15.1	15.2	19.6	23	31.8	31.1	30.6	30.2
Total equity	17.6	14.2	15.1	15.2	19.6	23	31.8	31.1	30.6	30.2
Total liabilities and equity	23.4	22.8	23.2	22.6	26.3	30	39.1	37.2	37.2	36.7
Shares outstanding	11.1	11.1	7.38	7.4	8.61	9.15	9.23	9.3	9.46	9.47

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-0.96	-3.41	0.31	-0.47	0.49	1.27	8.32	-0.95	-0.87	-0.39
Depreciation and amortization	0.5	0.53	0.43	0.33	0.3	0.29	0.23	0.19	0.24	0.3
Stock-based compensation		0.33	0.52	0.55	0.62	0.46	0.29	0.16	0.03	0.02
Deferred income tax	0.17	3.04	-0.01	0.01
Change in receivables	-0.4	-0.77	1.03	1.28	0.09	0.43	0.46	0.18	0.07	-0.09
Change in inventory	0.25	2.21	-0.71	1.31	-0.36	-2.73	2.21	1.95	-0.41	0.29
Change in payables	0.28	-0.81	0.01	-0.61	-0.43	0.4	-0.53	0.06	0.49	-0.53
Cash from operations	0.23	1.03	1.41	1.8	0.35	-0.94	10.7	-0.19	-0.21	0.44
Capital expenditures	-0.4	-0.25	-0.19	-0.42	-0.6	-0.11	-0.1	-0.46	-0.49	-0.32
Cash from investing	-0.54	-0.38	-0.31	-0.54	-0.7	1.81	-17	-0.2	-0.12	-0.24
Debt issued				0.51
Stock issued	0	0	0.05		3.31	1.39	0.17	0.13	0.31	0.02
Cash from financing			0.05	0.51	3.31	1.39	0.17	0.13	0.31	0.01
Net change in cash		0.65	1.15	1.77	2.95	2.26	-6.12	-0.25	-0.03	0.21
Free cash flow	-0.17	0.78	1.22	1.38	-0.25	-1.05	10.6	-0.65	-0.71	0.12
Interest paid	0	0.01
Income taxes paid	-0.52	0	0				0.32	-0.07	0	-0.01

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $4.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	41.9%	Gross profit / revenue.
Operating margin	-11.6%	Operating income / revenue.
EBITDA margin	-9.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-2.9%	Pre-tax income / revenue.
Net margin	-3.0%	Net income / revenue.
FCF margin	0.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	3.4%	Cash from operations / revenue.
Return on equity (ROE)	-1.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.1%	Net income / average total assets.
Return on invested capital (ROIC)	-4.3%	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	1.8%	Research and development expense / revenue.
SG&A / revenue	53.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-7.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	14.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.9%	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	-4.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-65.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-77.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-1.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.1%	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	6.8%	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	1.1%	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	-1.0%	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	-0.4%	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	14.0x	Current assets / current liabilities.
Quick ratio	11.3x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	10.6x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	17.7%	Total liabilities / total assets.
Interest coverage	-715x	Operating income / interest expense.
Working capital	$24.1M	Current assets - current liabilities.
Tangible book value	$30.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.35x	Revenue / average total assets.
Fixed asset turnover	8.75x	Revenue / average property, plant and equipment.
Inventory turnover	1.60x	Cost of revenue / average inventory.
Days inventory	229 days	365 x average inventory / cost of revenue.
Receivables turnover	11.0x	Revenue / average receivables.
Days sales outstanding	33 days	365 x average receivables / revenue.
Days payables	27 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	235 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	72.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.04	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	-$0.04	Net income per basic share, as reported (split-adjusted).
Revenue per share	$1.38	Revenue / diluted weighted shares.
FCF per share	$0.01	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.05	Cash from operations / diluted weighted shares.
Book value per share	$3.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.19	Tangible book value / shares outstanding.
Cash per share	$2.09	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$37.9M	Share price x shares outstanding.
Enterprise value	$18.0M	Market cap + total debt - cash - short-term investments.
P/S	2.91x	Market cap / revenue.
P/B	1.26x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.26x	Market cap / tangible book value, when positive.
P/FCF	309x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	86.2x	Market cap / cash from operations, when positive.
EV/Sales	1.39x	Enterprise value / revenue.
EV/FCF	147x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.3%	Free cash flow / market cap.
Earnings yield	-1.0%	Net income / market cap (the inverse of P/E).

What was KOSS CORP's revenue in fiscal 2026?

KOSS CORP reported revenue of $13.0M for fiscal 2026, 3.1% higher than the year before.

Was KOSS CORP profitable in fiscal 2026?

No. It reported a net loss of $391.5K.

How much free cash flow did KOSS CORP generate in fiscal 2026?

Cash from operations of $439.2K minus capital expenditures of $316.5K left free cash flow of $122.7K.

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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