Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Tron 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
FY2023
FY2023
FY2024
FY2025
Revenue
6.08
5.76
4.31
4.74
Cost of revenue
4.85
4.44
3.46
3.54
Gross profit
1.23
1.32
0.86
1.2
General and administrative
0.87
3.35
5.19
3.72
Operating expenses
5.19
3.72
Operating income
0.36
-2.04
-4.33
-2.52
Interest expense
0.03
0.06
0.03
0.03
Interest income
0
0.04
0.03
0.17
Other non-operating income
-0.03
-0.02
-0
-14.3
Pre-tax income
-4.34
-16.8
Net income
0.33
-2.05
-4.34
-16.8
EBITDA
0.36
-2.03
-4.22
-2.18
EPS, basic
0.05
-0.27
-0.37
-0.16
EPS, diluted
0.05
-0.27
-0.37
-0.16
Shares, basic (weighted)
6.5
7.69
11.6
103
Shares, diluted (weighted)
6.5
7.69
11.6
103
Balance sheet
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
0.01
2.98
1.35
10.5
Receivables
0.62
0.71
0.79
0.67
Inventory
0.29
0.31
0.78
0.7
Other current assets
0.08
0.03
0.04
0.07
Total current assets
2.07
4.5
3.46
12.4
Property, plant and equipment
0.01
0.05
0.05
0.07
Lease right-of-use assets
0.68
Intangible assets
2.8
Total assets
2.08
4.54
6.31
211
Accounts payable
0.38
0.13
0.26
0.14
Total current liabilities
0.01
1.02
0.65
Lease liabilities
0.46
Total liabilities
2.08
0.42
1.02
1.12
Paid-in capital
-0.7
4.81
10.2
232
Retained earnings
0.7
-1.36
-5.7
-22.5
Shareholders' equity
-0
4.12
5.29
210
Total equity
-0
4.12
5.29
210
Total liabilities and equity
2.08
4.54
6.31
211
Shares outstanding
6.5
9.77
16
261
Cash flow statement
FY2023
FY2023
FY2024
FY2025
Net income
0.33
-2.05
-4.34
-16.8
Depreciation and amortization
0
0.01
0.12
0.34
Stock-based compensation
1.29
1.28
0.03
Change in receivables
0.04
-0.09
-0.09
0.12
Change in inventory
-0.29
-0.02
-0.48
0.08
Change in payables
-0.15
-0.25
0.14
-0.12
Cash from operations
-0.03
-0.77
-2.86
-1.44
Acquisitions
-0.35
Cash from investing
-0
-0.39
-0.27
-0.07
Cash from financing
-0.03
3.69
1.5
10.6
Net change in cash
-0.06
2.53
-1.63
9.1
Interest paid
0.03
0.06
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.45 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
25.7%
Gross profit / revenue.
Operating margin
-42.3%
Operating income / revenue.
EBITDA margin
-38.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
240.7%
Pre-tax income / revenue.
Net margin
186.8%
Net income / revenue.
Operating cash flow margin
-45.4%
Cash from operations / revenue.
Return on equity (ROE)
3.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
3.5%
Net income / average total assets.
Return on invested capital (ROIC)
-0.7%
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%.
D&A / revenue
4.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
10.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-7.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
40.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-0.9%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
3,875.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
3,252.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
366.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
783.0%
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
150.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
17.8x
Current assets / current liabilities.
Quick ratio
10.5x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.16x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.02
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
$0.01
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.00
Cash from operations / diluted weighted shares.
Book value per share
$0.56
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
71.6x
Market cap / net income. Only when net income is positive.
P/S
134x
Market cap / revenue.
P/B
2.57x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.57x
Market cap / tangible book value, when positive.
EV/Sales
132x
Enterprise value / revenue.
Earnings yield
1.4%
Net income / market cap (the inverse of P/E).
What was Tron Inc.'s revenue in fiscal 2025?
Tron Inc. reported revenue of $4.7M for fiscal 2025, 10% higher than the year before.
Was Tron Inc. profitable in fiscal 2025?
No. It reported a net loss of $16.8M.
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.