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Financial statements

SRX Global Inc. financial statements

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

FY2018FY2019FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Revenue014.815.642.64654.738.6356.53
Cost of revenue07.499.7226.530.639.426.8225.01
Gross profit07.35.8616.115.415.311.8131.53
Research and development0.10.50.50.10.1
Selling, general and administrative34.528.535.424.41912.9
Selling and marketing4.9810.17.89
General and administrative0.536.0619.826
Operating expenses0.5312.542.243.432.654331912.9
Operating income-0.53-5.16-36.3-27.3-17.3-38.8-21.2-5.97-11.4
Interest expense0.530.870.79.20.551.350.470.63
Other non-operating income-0.59-0.87-148-3220.7-0.55-1.595.812.77
Pre-tax income-1.11-59.33.42-39.3-22.8-0.16-8.64
Income tax0000.04-0.0200.01
Income from continuing operations-1.11
Net income-2.95-6.03-184-59.33.39-39.3-22.8-43.1-0.17-45
EBITDA-5.14-36.2-25.6-15.6-37.1-19.5-5.84-11.4
EPS, basic-258.59-137.21-1,464.00-319.286.60-58.93-32.29-1.95-0.10-2.13
EPS, diluted-258.59-137.21-1,464.00-319.286.16-58.93-32.29-1.95-0.10-2.13
Shares, basic (weighted)0.010.040.130.190.450.670.7122.11.6221.1
Shares, diluted (weighted)0.010.040.130.190.50.670.7122.11.6221.1

Balance sheet

FY2018FY2019FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Cash and equivalents0.23.952.363.9321.73.174.460.113.071.31
Receivables0.125.824.636.796.744.359.285.373.95
Inventory0.011.566.584.875.2510.36.613.373.872.08
Other current assets00.250.084.072.941.050.810.50.480.79
Total current assets0.215.8917.617.643.927.516.213.6158.13
Property, plant and equipment0.070.420.250.370.380.236.030.140.09
Lease right-of-use assets00.950.350.060.170.126.490.060.02
Goodwill018.618.618.600.410.41
Intangible assets014.613.111.610.17
Other non-current assets0.031.331.360.120.540.160.210.190.17
Total assets0.215.9953.551.374.738.716.733.815.88.4
Accounts payable0.040.774.053.144.552.936.9339.83.142.15
Accrued liabilities0.020.094.723.41.882.62.091.860.21.38
Deferred revenue0.070.310.350.230.340.010.030.5
Short-term debt1.03020.98.020.8604.6231.62.41
Total current liabilities2.869.033354.67.345.5813.781.37.153.54
Long-term debt0016.424.69.4211.40.72.410
Lease liabilities00.640.180.010.120.075.620.01
Total liabilities2.869.035079.416.817.113.888.97.158
Total debt1.036.237.332.610.311.44.6232.32.410
Paid-in capital3.4113.619423331732032412.533023.3
Retained earnings6.06-16.7-201-261-259-299-321-70-322-22.9
Other comprehensive income2.4
Shareholders' equity-2.65-3.04-7.07-28.157.921.52.95-55.1-63.70.41
Total equity-2.65-3.04-7.07-28.157.921.52.95-55.1-63.70.41
Total liabilities and equity0.215.9953.551.374.738.716.733.815.88.4
Shares outstanding0.010.040.180.20.660.670.7322.51.830.42

Cash flow statement

FY2018FY2019FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Net income-2.95-6.03-184-59.33.39-39.3-22.8-43.1-0.17-8.64
Depreciation and amortization0.010.171.751.661.691.684.390.130.03
Stock-based compensation0.4310.38.944.142.971.773.670.833.21
Deferred income tax000-0-0.950.01
Change in receivables0-0.2-0.11.19-2.14-0.072.39-0.41-1.155.41
Change in inventory0.01-0.40.231.45-0.64-6.823.652.562.740.5
Change in payables-0.230.06-1.7-2.450.77-0.76410.4-1.16-5.99
Cash from operations-0.84-6.9-21-7.51-11.9-20.60.1-1.48-4.36-8.14
Capital expenditures-0.03-0.11-0.15-0.35-0.2-0.02-0.04
Acquisitions0-20.50
Cash from investing0-0.03-20.2-0.15-0.35-0.2-0.02-1.09-2.255.91
Debt issued2.350
Stock issued4.6715.818.10.92
Share buybacks00-1.60-0.21-0.14
Cash from financing110.739.89.1137.21.28-5.10.935.2212.2
Net change in cash0.163.79-1.411.4625-19.5-5.02-1.64-1.391.41
Free cash flow-6.93-21.1-7.66-12.2-20.80.08-4.4
Interest paid00.272.310.360.440.542.660.250.33
Income taxes paid0000.010.010.01

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.70 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin35.0%Gross profit / revenue.
Operating margin-86.0%Operating income / revenue.
EBITDA margin-106.6%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin-155.0%Pre-tax income / revenue.
Net margin-258.4%Net income / revenue.
Return on equity (ROE)-24.4%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-24.0%Net income / average total assets.
Return on invested capital (ROIC)-8.5%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%.
SG&A / revenue121.0%Selling, general and administrative expense / revenue.
Stock-based pay / revenue15.8%Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue-20.6%Depreciation and amortization / revenue.

Balance sheet health

MetricValueHow it is calculated
Current ratio27.6xCurrent assets / current liabilities.
Quick ratio19.6x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio18.0x(Cash + short-term investments) / current liabilities.
Debt / equity0.00xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets0.0%Total debt / total assets.
Liabilities / assets1.6%Total liabilities / total assets.
Net debt-$42.7MTotal debt - cash - short-term investments. Negative means more cash than debt.
Working capital$62.9MCurrent assets - current liabilities.
Goodwill and intangibles / assets55.0%(Goodwill + intangible assets) / total assets.
Tangible book value$63.0MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.09xRevenue / average total assets.
Fixed asset turnover1,500xRevenue / average property, plant and equipment.
Inventory turnover3.36xCost of revenue / average inventory.
Days inventory109 days365 x average inventory / cost of revenue.
Receivables turnover3.72xRevenue / average receivables.
Days sales outstanding98 days365 x average receivables / revenue.
Days payables53 days365 x average accounts payable / cost of revenue.
Cash conversion cycle154 daysDays inventory + days sales outstanding - days payables.

Per share

MetricValueHow it is calculated
EPS, diluted-$3.05Net 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$1.18Revenue / diluted weighted shares.
Book value per share$7.33Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$3.23Tangible book value / shares outstanding.
Cash per share$2.19(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$34.5MShare price x shares outstanding.
Enterprise value-$8.2MMarket cap + total debt - cash - short-term investments.
P/S2.55xMarket cap / revenue.
P/B0.24xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book0.55xMarket cap / tangible book value, when positive.
Earnings yield-101.2%Net income / market cap (the inverse of P/E).
What was SRX Global Inc.'s revenue in fiscal 2025?

SRX Global Inc. reported revenue of $6.5M for fiscal 2025, 81.3% lower than the year before.

Was SRX Global Inc. profitable in fiscal 2025?

No. It reported a net loss of $45.0M.

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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