Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data TAO Synergies 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
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0.3
Cost of revenue
0
0.04
Gross profit
0
0.26
Research and development
5.67
3.07
4.34
6.32
1.97
1.6
0.32
General and administrative
9.57
8.09
8.28
9.81
6.34
5.21
9.02
Operating expenses
15.5
11.2
12.6
16.1
8.31
6.81
9.35
Operating income
-6.81
-9.05
Interest income
0.38
0.15
0.01
0.34
1.65
1.28
0.44
Other non-operating income
-1.55
0.01
10.6
2.28
-5.96
-19.7
Pre-tax income
-15.1
-12.7
-12.6
-5.57
-6.04
-12.8
-28.7
Income tax
0
0
0
Net income
-15.1
-12.7
-12.6
-5.57
-6.04
-12.8
-28.7
EBITDA
-6.81
-9.04
EPS, basic
12.03
12.03
2.51
-0.81
29.56
-10.99
-8.81
EPS, diluted
12.03
12.03
2.51
-0.81
29.56
-10.99
-8.81
Shares, basic (weighted)
1.26
1.26
5.02
6.99
0.47
1.23
3.3
Shares, diluted (weighted)
1.26
1.26
5.02
6.99
0.47
1.23
3.3
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
17.4
5.8
34.2
37.5
28.7
17.7
5.5
Short-term investments
1.44
Other current assets
0.49
0.15
0.88
0.74
0.06
0.06
1.95
Total current assets
17.9
6.73
35.5
38.6
30.5
17.7
25.4
Property, plant and equipment
0.02
0.02
0.02
0.02
0.02
0.01
0.01
Total assets
17.9
6.75
35.5
38.6
31.1
17.7
25.8
Accounts payable
0.41
1.26
1.3
0.66
0.44
0.32
1.18
Accrued liabilities
0.07
0.35
0.7
0.54
0.44
0.7
0.64
Total current liabilities
0.48
1.61
1.99
1.31
4.28
1.01
1.81
Total liabilities
0.48
1.61
1.99
3.19
5.53
11
3.94
Paid-in capital
6.67
47.7
52.5
58
53
97.2
Retained earnings
-1.53
-14.1
-19.8
-33.6
-47.2
-76.2
Other comprehensive income
0
0.01
0.01
Shareholders' equity
17.4
5.14
33.5
32.7
24.3
5.86
21.1
Total equity
17.4
5.14
33.5
32.7
24.3
5.86
21.1
Total liabilities and equity
17.9
6.75
35.5
38.6
31.1
17.7
25.8
Shares outstanding
1.26
6.73
7.27
0.96
1.36
7.45
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-15.1
-12.7
-12.6
-5.57
-6.04
-12.8
-28.7
Depreciation and amortization
0
0
0
0.01
0.01
0.01
0
Stock-based compensation
1.02
1.78
1.01
0.03
Change in payables
0.85
0.04
-0.64
-0.22
-0.13
0.86
Cash from operations
-11.9
-8.1
-8.71
-11.2
-5.17
-4.88
-6.4
Capital expenditures
-0.01
-0.01
-0
-0.01
-0
Purchases of investments
-1.44
-1
Cash from investing
-0.01
-0.01
-0
-0.01
-2
-1
-28.9
Cash from financing
0.42
-3.48
37.1
14.5
-1.64
-5.12
23.1
Net change in cash
-11.5
-11.6
28.4
3.26
-8.82
-11
-12.2
Free cash flow
-11.9
-8.11
-8.71
-11.2
-5.18
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 $4.43 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-1,013.0%
Operating income / revenue.
EBITDA margin
-1,013.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-2,155.0%
Pre-tax income / revenue.
Net margin
-2,155.0%
Net income / revenue.
Operating cash flow margin
-803.0%
Cash from operations / revenue.
Return on equity (ROE)
-130.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-78.9%
Net income / average total assets.
Return on invested capital (ROIC)
-59.6%
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
22.4%
Research and development expense / revenue.
D&A / revenue
0.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
259.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-13.6%
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
32.6%
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
45.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-12.5%
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
30.8%
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
167.5%
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
-22.1%
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
21.3%
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
20.0x
Current assets / current liabilities.
Quick ratio
2.30x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.30x
(Cash + short-term investments) / current liabilities.
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
$0.10
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.83
Cash from operations / diluted weighted shares.
Book value per share
$1.71
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
42.9x
Market cap / revenue.
P/B
2.60x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.60x
Market cap / tangible book value, when positive.
EV/Sales
39.8x
Enterprise value / revenue.
Earnings yield
-50.2%
Net income / market cap (the inverse of P/E).
What was TAO Synergies Inc.'s revenue in fiscal 2025?
TAO Synergies Inc. reported revenue of $299.1K for fiscal 2025.
Was TAO Synergies Inc. profitable in fiscal 2025?
No. It reported a net loss of $28.7M.
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.