Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Zeta Network Group 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
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
45
45.7
43.7
6.78
16.5
2.83
8.73
Cost of revenue
44
39
39.1
4.14
8.55
1.99
8.98
Gross profit
1.09
6.71
4.56
2.64
7.97
0.84
-0.25
Research and development
0.85
1.18
0.22
0.12
0.82
68.3
0.12
Selling, general and administrative
5.38
0.92
2.07
1.6
5.66
13.9
15
7.06
5.17
Operating income
-8.77
-2.31
-6.66
-5.16
-9.66
-78.9
-37.8
-27
-33.4
Interest expense
0.83
1.36
2.04
0.08
0.29
Interest income
0.03
0
0
0
0
0.6
Other non-operating income
-2.26
-0
-0
-0.01
0.02
1.69
-0.01
0.14
-9.64
Pre-tax income
-11
-2.31
-6.66
-5.17
-8.24
-77.2
-37.8
-26.9
-43
Income tax
6.66
5.17
9.64
77.2
37.8
Income from continuing operations
-2.31
-6.66
-5.17
-9.64
-77.2
-37.8
Net income
-11
-7.4
-14.4
-11.6
-8.24
-77.2
-37.8
-26.9
-43
EBITDA
-7.59
-2.31
-6.66
-5.16
-8.12
-77.5
-37.8
-27
-30.4
EPS, basic
-609,334.00
-141,596.00
-206,948.00
-1,100.00
-349.89
-49,734.00
-10,322.00
-1,764.00
-111.67
EPS, diluted
-609,336.00
-314,052.00
-239,623.00
-99,843.00
-12,096.00
-49,734.00
-10,322.00
-1,764.00
-111.67
Shares, basic (weighted)
0
0
0
0
0
0
0
0.02
0.39
Shares, diluted (weighted)
0
0
0
0
0
0
0
0.02
0.39
Balance sheet
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.22
1.1
0.35
0.99
0.17
0.87
0.24
0.02
1.06
Receivables
43.3
37
2.51
1.23
2.67
Inventory
0.43
0.51
Other current assets
1.57
52.2
1.17
4.27
17.7
10.3
8.85
0
Total current assets
50.7
52.5
3.16
7.64
27.9
16
10.5
3.73
Property, plant and equipment
2.75
1.66
3.96
9.16
0.03
0.02
0
32.1
Lease right-of-use assets
0.11
0.01
Intangible assets
12.3
25.6
14
17
Other non-current assets
1.66
Total assets
53.4
54.2
7.12
81.1
53.5
30
27.6
35.8
Accounts payable
10.3
12.8
3.77
3.27
3.27
Accrued liabilities
1.22
3.08
0.64
Deferred revenue
3.6
Total current liabilities
43.7
53.6
0.53
4.12
5.02
5.33
9.06
12.5
Lease liabilities
0.01
Total liabilities
43.7
53.6
0.53
4.12
5.02
5.33
9.07
12.5
Paid-in capital
48.4
54.2
69.7
148
196
213
231
278
Retained earnings
-49.6
-64
-61.9
-70.2
-147
-185
-212
-255
Other comprehensive income
7.56
7.22
Shareholders' equity
9.88
9.7
0.52
6.59
77
48.4
24.7
18.5
23.3
Total equity
9.88
9.7
0.52
6.59
77
48.4
24.7
18.5
23.3
Total liabilities and equity
53.4
54.2
7.12
81.1
53.5
30
27.6
35.8
Shares outstanding
0
0
0.01
0
0
Cash flow statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-11
-7.4
-14.4
-11.6
-8.24
-77.2
-37.8
-26.9
-43
Depreciation and amortization
1.18
0
0
0
1.54
1.45
0.01
0.01
2.92
Stock-based compensation
0.29
1.39
4.59
3.44
5.72
4.73
3.49
3.87
1.68
Change in receivables
-13.5
-4.65
-6.03
-3.19
0.68
0.16
-1.23
-2.17
Change in inventory
0.37
0.22
-0.1
Change in payables
0.01
-12.8
10.4
3.77
-0.5
-3.27
Cash from operations
1.7
2.45
-1.08
-2.54
-2.8
-29.4
-7.88
-2.78
-8.34
Capital expenditures
-0.21
-0.14
-0.14
-2
-2.02
-0.04
-3.4
Cash from investing
-0.21
-0.14
-0.14
-1.39
-65.5
-14.2
-3.4
Debt issued
1
14.3
Stock issued
0.6
0.95
4.5
62.3
43.9
1.5
1.38
Cash from financing
-2.06
-5.8
0.52
4.8
67.5
44.3
7.25
2.56
12.8
Exchange rate effect
-0.1
0.15
-0.06
-0
Net change in cash
-0.67
-3.33
-0.75
0.86
-0.81
0.7
-0.63
-0.22
1.04
Free cash flow
1.49
2.31
-1.21
-4.54
-4.82
-29.4
-11.7
Interest paid
0.83
1.36
2.04
0.01
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.35 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-2.9%
Gross profit / revenue.
Operating margin
-382.3%
Operating income / revenue.
EBITDA margin
-348.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-492.8%
Pre-tax income / revenue.
Net margin
-492.8%
Net income / revenue.
FCF margin
-134.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-95.5%
Cash from operations / revenue.
Return on equity (ROE)
-205.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-135.6%
Net income / average total assets.
Return on invested capital (ROIC)
-129.3%
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%.
SG&A / revenue
59.2%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
19.2%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
39.0%
Capital expenditures / revenue.
D&A / revenue
33.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
208.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-19.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
-129.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
25.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-21.6%
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
28.8%
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
29.8%
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
38.1%
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
2,428.0%
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
528.2%
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
406.1%
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
0.30x
Current assets / current liabilities.
Quick ratio
0.30x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.08x
(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
-$111.67
Net income per basic share, as reported (split-adjusted).
Revenue per share
$22.66
Revenue / diluted weighted shares.
FCF per share
-$30.48
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$21.65
Cash from operations / diluted weighted shares.
Book value per share
$60.57
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.04x
Market cap / revenue.
P/B
0.02x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.02x
Market cap / tangible book value, when positive.
FCF yield
-3,317.0%
Free cash flow / market cap.
Earnings yield
-12,154.0%
Net income / market cap (the inverse of P/E).
What was Zeta Network Group's revenue in fiscal 2025?
Zeta Network Group reported revenue of $8.7M for fiscal 2025, 208.3% higher than the year before.
Was Zeta Network Group profitable in fiscal 2025?
No. It reported a net loss of $43.0M.
How much free cash flow did Zeta Network Group generate in fiscal 2025?
Cash from operations of $8.3M minus capital expenditures of $3.4M left free cash flow of -$11.7M.
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.