Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Waton Financial Ltd 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
FY2025
FY2025
FY2026
Revenue
5.74
10.1
7.45
11.1
Research and development
0
0
0.43
0.73
Operating expenses
2.67
7.11
18.1
25.6
Operating income
3.07
2.94
-10.7
-14.5
Other non-operating income
0.73
-0.01
-1.16
-0.63
Pre-tax income
3.8
2.94
-11.8
-15.2
Income tax
0.71
0.44
0.15
0
Net income
3.08
2.5
-12
-15.2
EBITDA
3.07
3.01
-10.5
-14.4
EPS, basic
0.09
0.04
-0.29
-0.31
EPS, diluted
0.09
0.04
-0.29
-0.31
Shares, basic (weighted)
34.7
62.8
41.8
48.2
Shares, diluted (weighted)
34.7
62.8
41.8
48.2
Balance sheet
FY2023
FY2025
FY2025
FY2026
Cash and equivalents
19.1
4.95
7.72
10.4
Other current assets
0.13
0.89
1.09
Total current assets
25.8
25.3
50.1
Property, plant and equipment
0.21
0.12
0.29
Lease right-of-use assets
0.98
0.47
0.99
Long-term investments
3.47
2.88
Other non-current assets
1.26
1.73
0.48
Total assets
32.7
30.7
54.7
Accrued liabilities
0.71
0.75
0.78
Total current liabilities
21.5
17.9
32.5
Lease liabilities
0.49
0.03
0.46
Total liabilities
21.9
18
32.9
Paid-in capital
7.91
21.8
46.1
Retained earnings
2.86
-9.11
-24.3
Other comprehensive income
-0.03
0.06
-0.07
Shareholders' equity
14.2
10.7
12.8
21.7
Total equity
14.2
10.7
12.8
21.7
Total liabilities and equity
32.7
30.7
54.7
Shares outstanding
77
41
43.2
48.2
Cash flow statement
FY2023
FY2025
FY2025
FY2026
Net income
3.08
2.5
-12
-15.2
Depreciation and amortization
0.01
0.07
0.1
0.15
Stock-based compensation
0.38
0
8.79
7.06
Deferred income tax
0.71
0.44
0.15
0
Cash from operations
12
-1.85
0.36
-7.06
Capital expenditures
-0
-0.26
-0.01
-0.32
Purchases of investments
0
-7.5
0
0
Cash from investing
-0
-8.21
-0.01
-2.03
Stock issued
10
0
5.12
0
Share buybacks
0
-6
0
0
Cash from financing
13
-8.3
2.76
19.6
Exchange rate effect
-0.13
0.15
0.15
-0.11
Net change in cash
24.8
-18.2
3.25
10.4
Free cash flow
12
-2.11
0.35
-7.38
Interest paid
0.02
0.16
0.25
0.88
Income taxes paid
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $2.46 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-131.1%
Operating income / revenue.
EBITDA margin
-129.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-136.7%
Pre-tax income / revenue.
Net margin
-136.7%
Net income / revenue.
FCF margin
-66.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-63.7%
Cash from operations / revenue.
Return on equity (ROE)
-87.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-35.5%
Net income / average total assets.
Return on invested capital (ROIC)
-140.3%
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
6.6%
Research and development expense / revenue.
Stock-based pay / revenue
63.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
2.9%
Capital expenditures / revenue.
D&A / revenue
1.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
48.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
24.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-2,061.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-2,233.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
70.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
15.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
77.9%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
15.4%
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
11.6%
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
1.54x
Current assets / current liabilities.
Quick ratio
0.32x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.32x
(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.
EPS, basic
-$0.31
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.23
Revenue / diluted weighted shares.
FCF per share
-$0.15
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.15
Cash from operations / diluted weighted shares.
Book value per share
$0.45
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
10.7x
Market cap / revenue.
P/B
5.46x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
5.46x
Market cap / tangible book value, when positive.
EV/Sales
9.77x
Enterprise value / revenue.
FCF yield
-6.2%
Free cash flow / market cap.
Earnings yield
-12.8%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.0%
(Dividends paid + share buybacks) / market cap.
What was Waton Financial Ltd's revenue in fiscal 2026?
Waton Financial Ltd reported revenue of $11.1M for fiscal 2026, 48.8% higher than the year before.
Was Waton Financial Ltd profitable in fiscal 2026?
No. It reported a net loss of $15.2M.
How much free cash flow did Waton Financial Ltd generate in fiscal 2026?
Cash from operations of $7.1M minus capital expenditures of $323.6K left free cash flow of -$7.4M.
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.