Emmaus Life Sciences, Inc. (EMMA)
Emmaus Life Sciences, Inc. is a commercial-stage biopharmaceutical enterprise dedicated to the discovery, development, commercialization, and sale of treatments and therapies, primarily addressing rare and orphan diseases across the United States and internationally. The company's flagship product is Endari, an L-glutamine oral powder designed to mitigate the acute complications associated with sickle cell disease in patients aged five and above, covering both pediatric and adult populations. Furthermore, Emmaus maintains a collaborative arrangement with Kainos Medicine, Inc. for the preclinical advancement of Kainos' proprietary IRAK4 inhibitor, KM10544, which is being explored as a potential anti-cancer therapeutic. Established in 2000 as Emmaus Holdings, Inc., the organization rebranded to Emmaus Life Sciences, Inc. in September 2011 and operates from its headquarters in Torrance, California.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Emmaus Life Sciences, Inc.
OTC:EMMAHealthcare · Biotechnology
-20.09%$0.0460
Mkt Cap$3.23M
Float41.29M
O/S70.19M
Inst Own0.1%
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$12.45M
Net Income-$7.49M
Total Assets$21.44M
Free Cash Flow-$12K
Debt & Equity
Total Debt$32.56M
Total Equity-$63.61M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in EMMA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$21.44M
Liabilities$85.04M
Accounts Receivable$2.8M
Accounts Payable$4.03M
Inventory$1.55M
PP&E (Net)$879K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
| Revenue | $12.45M | $16.65M | $29.6M | $18.39M | $20.61M | $23.17M | $22.75M | $1.32M | $129K | $85K | $100K | $135K | $131K | $115K | $746K | $639K | $700K | $774K | $238K | $176K | $127K | $0 | $7K | $8K | $8K | $14K | $20K |
| YoY Growth | -25.2% | -43.7% | 60.9% | -10.8% | -11.0% | 1.8% | 1628.9% | 924.1% | 51.0% | -15.0% | -25.9% | 3.2% | 13.8% | -84.6% | 16.8% | -8.8% | -9.5% | 224.5% | 35.8% | 37.8% | - | - | -13.9% | -4.6% | -41.9% | -28.7% | - |
| Cost of Revenue | $857K | $1.2M | $1.34M | $2.59M | $3.31M | $2.25M | $1.09M | $827K | $54K | $6K | $5 | $73K | $143K | $132K | $147K | $135K | $132K | $163K | $166K | $0 | $0 | $0 | $885 | $1K | $1K | $6K | $10K |
| Gross Profit | $11.6M | $15.45M | $28.25M | $15.8M | $17.3M | $20.92M | $21.66M | $488K | $75K | $80K | $88K | $62K | -$12K | -$17K | $599K | $503K | $569K | $610K | $72K | $0 | $0 | $0 | $6K | $7K | $7K | $8K | $10K |
| Gross Margin | 93.1% | 92.8% | 95.5% | 85.9% | 83.9% | 90.3% | 95.2% | 37.1% | 58.4% | 93.5% | 87.5% | 46.0% | -8.9% | -14.8% | 80.3% | 78.8% | 81.2% | 78.9% | 30.3% | - | - | - | 87.0% | 84.7% | 86.2% | 59.5% | 50.0% |
| Research and Development | $313K | $657K | $1.19M | $1.73M | $4.11M | $2.41M | $2.18M | $1.38M | $1.36M | $1.99M | $784K | $1.45M | $1.29M | $854K | $925K | $1.12M | $1.92M | $2.1M | $1.44M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $11.05M | $16.69M | $23.53M | $20.66M | $19.32M | $18.54M | $23.99M | $9.36M | $5.82M | $3.05M | $1.96M | $2.42M | $2.9M | $3.94M | $5.15M | $5.89M | $4.8M | $3.99M | $1.9M | $416K | $29K | $261K | $145K | $17K | $16K | $16K | $20K |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $307K | $0 | $0 | $1.01M | $0 | $382K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1 | $0 | $0 | -$0 |
| Total Operating Expenses | $11.37M | $17.35M | $24.71M | $22.39M | $23.43M | $20.95M | $26.17M | $10.29M | $7.18M | $3.85M | $2.75M | $3.88M | $3.91M | $4.79M | $6.43M | $7.01M | $6.94M | $6.08M | $3.34M | $416K | $29K | $261K | $145K | $17K | $16K | $16K | $20K |
| Operating Income (EBIT) | $231K | -$1.89M | $3.54M | -$6.59M | -$6.13M | -$32K | -$4.51M | -$10.24M | -$7.1M | -$3.77M | -$2.65M | -$3.82M | -$4.2M | -$4.81M | -$5.83M | -$6.5M | -$6.69M | -$5.47M | -$3.27M | -$416K | -$29K | -$261K | -$139K | -$10K | -$9K | -$7K | -$10K |
| Operating Margin | 1.9% | -11.4% | 12.0% | -35.8% | -29.7% | -0.1% | -19.8% | -778.5% | -5528.1% | -4426.6% | -2647.2% | -2825.2% | -3209.3% | -4179.1% | -781.5% | -1018.8% | -955.9% | -707.7% | -1371.5% | -237.0% | -22.4% | - | -2039.9% | -131.4% | -112.0% | -49.6% | -50.0% |
| Interest Expense | $7.13M | $5.49M | $7.38M | $5.01M | $3.1M | $5.99M | $27.39M | $86K | $7K | $2.72M | $257K | $14K | $1.29M | $4.12M | $7.57M | $361K | $1.83M | $0 | $206K | $19K | $31K | $5K | $725 | $458 | $203 | $0 | -$10K |
| Interest Income | $270K | $274K | $681K | $680K | $761K | $801K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.38M | $0 | $0 | $100K | $104K | $91K | $0 | $0 | $0 | $0 | $0 | $6 | $11 | $0 |
| Other Income (Expense) | -$7.71M | -$4.53M | -$7.33M | -$3.98M | -$9.79M | $1M | -$50.17M | -$318K | -$7K | -$2.17M | -$725K | $1.16M | -$6.69M | $1.89M | -$3.04M | -$1.67M | -$1.82M | $104K | -$9K | -$19K | $9K | -$5K | -$629 | -$458 | -$197 | $11 | -$10K |
| Income Before Tax (EBT) | -$7.48M | -$6.42M | -$3.79M | -$10.56M | -$15.92M | $973K | -$54.68M | -$10.33M | -$7.11M | -$5.94M | -$3.38M | -$2.65M | -$10.89M | -$2.91M | -$8.87M | -$8.17M | -$8.52M | -$5.37M | -$3.28M | -$435K | -$20K | -$266K | -$139K | -$11K | -$9K | -$7K | -$20K |
| Income Tax Expense | $9K | $29K | -$59K | $60K | $25K | -$381K | $164K | $2K | $3K | $2K | $5K | $5K | $800 | $2K | $1K | $800 | $7K | $1K | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $20K |
| Net Income | -$7.49M | -$6.45M | -$3.73M | -$10.63M | -$15.95M | $1.35M | -$54.84M | -$9.6M | -$7.11M | -$5.94M | -$3.38M | -$2.66M | -$10.91M | -$3.41M | -$8.87M | -$8.17M | -$8.52M | -$5.37M | -$3.28M | -$436K | -$21K | -$266K | -$140K | -$12K | -$10K | -$8K | -$40K |
| Net Income Margin | -60.2% | -38.7% | -12.6% | -57.8% | -77.4% | 5.8% | -241.0% | -729.4% | -5535.3% | -6981.2% | -3376.0% | -1971.0% | -8332.3% | -2962.6% | -1188.8% | -1280.2% | -1217.3% | -694.4% | -1375.5% | -248.4% | -16.2% | - | -2060.9% | -147.4% | -124.0% | -55.1% | -200.0% |
| Supplementary Data | |||||||||||||||||||||||||||
| EPS | -0.12 | -0.10 | -0.07 | -0.21 | -0.32 | 0.03 | -1.30 | -11.16 | -15.15 | -55.54 | -39.83 | -32.17 | -172.68 | -2135.92 | -5694.67 | -5629.48 | -7346.72 | -3955.08 | -2107.39 | -279.91 | -13.25 | -171.21 | -90.01 | -7.48 | -6.60 | -5.05 | -4.00 |
| Diluted EPS | -0.12 | -0.10 | -0.07 | -0.21 | -0.32 | 0.03 | -1.30 | -11.16 | -15.15 | -55.54 | -39.83 | -36.00 | -168.00 | -2135.92 | -5694.67 | -5629.48 | -7346.72 | -3955.08 | -2107.39 | -279.91 | -13.25 | -171.21 | -90.01 | -7.48 | -6.60 | -5.05 | -4.00 |
| Weighted Average OS | 64.04M | 63.23M | 53.10M | 49.44M | 49.25M | 48.90M | 42.26M | 5.20M | 727,095 | 106,974 | 84,844 | 82,772 | 63,166 | 1,595 | 1,557 | 1,452 | 1,160 | 1,358 | 1,556 | 1,556 | 1,556 | 1,556 | 1,556 | 1,556 | 1,556 | 1,556 | 10,000 |
| EBITDA | -$310K | -$910K | $3.62M | -$5.5M | -$12.76M | $7.02M | -$26.98M | -$10.13M | -$7.05M | -$3.76M | -$3.12M | -$2.63M | -$4.19M | -$4.79M | -$748K | -$7.8M | -$6.36M | -$5.47M | -$3.25M | $554K | -$1.09M | -$261K | -$139K | -$10K | -$9K | -$7K | -$30K |
| EBITDA Margin | -2.5% | -5.5% | 12.2% | -29.9% | -61.9% | 30.3% | -118.6% | -769.5% | -5490.2% | -4418.3% | -3112.9% | -1947.5% | -3199.4% | -4162.6% | -100.3% | -1222.1% | -908.9% | -706.9% | -1363.1% | 315.6% | -858.4% | - | -2039.9% | -131.4% | -111.2% | -48.0% | -150.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
| Assets | |||||||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||||||
| Cash and Cash Equivalents | $2.13M | $1.39M | $2.55M | $2.02M | $2.28M | $2.49M | $1.77M | $3.25M | $5.45M | $318K | $432K | $1.24M | $1.27M | $8K | $93K | $62K | $1.93M | $1.02M | $5.79M | $112K | $0 | $0 | $27 | $310 | $2K | $2K | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $27.93M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $2.13M | $1.39M | $2.55M | $2.02M | $2.28M | $2.49M | $29.7M | $3.25M | $5.45M | $318K | $432K | $1.24M | $1.27M | $8K | $93K | $62K | $1.93M | $1.02M | $5.79M | $112K | $0 | $0 | $27 | $310 | $2K | $2K | $0 |
| Accounts Receivable | $2.8M | $2.62M | $5.52M | $375K | $1.04M | $198K | $2.15M | $63K | $166K | $5K | $12K | $9K | $27K | $12K | $54K | $49K | $57K | $89K | $59K | $25K | $0 | $0 | $1K | $752 | $929 | $2K | $0 |
| Inventory | $1.55M | $1.64M | $1.71M | $2.38M | $4.39M | $7.09M | $7.97M | $4.71M | $625K | $166K | $219K | $250K | $239K | $44K | $72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $253 | $1K | $10K |
| Other Current Assets | $359K | $226K | $596K | $449K | $394K | $643K | $667K | $0 | $0 | $0 | $0 | $58K | $64K | $18K | $103K | $85K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $7.75M | $6.77M | $11.51M | $6.29M | $9.09M | $11.26M | $41.22M | $3.51M | $5.69M | $1.21M | $548K | $1.31M | $1.36M | $82K | $323K | $196K | $2.03M | $1.24M | $6.01M | $112K | $0 | $0 | $1K | $1K | $3K | $5K | $10K |
| Long-Term Assets | |||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $879K | $1.58M | $2.4M | $2.87M | $3.63M | $4.19M | $4.63M | $111K | $121K | $10K | $2K | $9K | $17K | $20K | $33K | $23K | $15K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $65 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.39M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $320K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $117K | $60K | $87K | $0 | $893K | $1.11M | $1.32M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $12.6M | $15.04M | $20.98M | $18.83M | $17.62M | $15.66M | $13.32M | $14.11M | $196K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$14.11M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $207K | $222K | $296K | $20.23M | $26.39M | $28.16M | $285K | $27K | $25K | $14K | $17K | -$874K | -$1.09M | -$1.3M | $14K | $19K | $21K | $26K | $4K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $13.69M | $16.84M | $23.67M | $41.94M | $47.64M | $48.02M | $18.23M | $1.64M | $402K | $110K | $19K | $28K | $38K | $44K | $47K | $42K | $36K | $347K | $4K | $0 | $0 | $0 | $0 | $0 | $0 | $65 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $21.44M | $23.6M | $35.18M | $48.23M | $56.73M | $59.27M | $59.46M | $5.15M | $6.1M | $1.32M | $567K | $1.34M | $1.4M | $125K | $370K | $238K | $2.06M | $1.58M | $6.01M | $112K | $0 | $0 | $1K | $1K | $3K | $5K | $10K |
| Liabilities | |||||||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||||||
| Accounts Payable | $4.03M | $3.31M | $1.29M | $301K | $262K | $2.02M | $7.28M | $347K | $737K | $427K | $318K | $869K | $2.49M | $3.09M | $1.74M | $1.22M | $1.09M | $285K | $219K | $666K | $0 | $202K | $12K | $8K | $9K | $6K | $0 |
| Short-Term Debt | $28.53M | $27.48M | $27.72M | $23.84M | $22M | $11M | $14.55M | $0 | $32K | $56K | $1.75M | $4K | $7K | $286K | $4.27M | $27K | $98K | $140K | $50K | $0 | $107K | $90K | $15K | $9K | $6K | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $13M | $10.02M | $10M | $10M | $6.61M | $5.44M | $4.22M | $160K | $46K | $46K | $46K | $46K | $787K | $9.01M | $932K | $966K | $0 | $0 | $317K | $0 | $0 | -$202K | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $4.58M | $6.73M | $6.04M | $6.24M | $8.63M | $5.5M | $13.28M | $273K | $60K | $66K | $1.91M | $672K | $293K | $9.09M | $5.6M | $2.83M | $227K | $240K | $73K | -$412K | $0 | $0 | $0 | $0 | $0 | $0 | $10K |
| Total Current Liabilities | $69.07M | $63.55M | $61.51M | $54.32M | $37.1M | $23.38M | $32.83M | $1.17M | $1.55M | $1.54M | $2.53M | $1.62M | $3.56M | $13K | $11.78M | $4.44M | $1.92M | $1.63M | $659K | $330K | $313K | $292K | $27K | $17K | $15K | $6K | $10K |
| Long-Term Liabilities | |||||||||||||||||||||||||||
| Long-Term Debt | $2.27M | $2.25M | $2.23M | $3.73M | $4.65M | $3.37M | $0 | $588K | $0 | $31K | $2.77M | $1.48M | $0 | $0 | $0 | $0 | $0 | $96K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $10M | $10M | $10.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | -$10.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $12.29M | $13.46M | $17.36M | $21.71M | $23.17M | $24.47M | $33.75M | $110K | $0 | $0 | $104K | $3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $15.97M | $16.53M | $21.43M | $27.99M | $41.08M | $41.31M | $37.68M | $700K | $3K | $36K | $2.87M | $1.48M | $6K | $5K | $10K | $3K | $5K | $103K | $269K | $0 | $107K | $292K | $27K | $0 | $15K | $6K | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$269K | $0 | -$107K | -$292K | -$27K | $0 | -$15K | -$6K | $0 |
| Total Liabilities | $85.04M | $80.08M | $82.94M | $82.32M | $78.18M | $64.69M | $70.51M | $1.87M | $1.55M | $1.58M | $5.4M | $3.1M | $3.56M | $13.2M | $11.79M | $4.44M | $1.93M | $1.73M | $659K | $330K | $313K | $292K | $27K | $17K | $15K | $6K | $10K |
| Stockholders' Equity | |||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $70K | $64K | $62K | $50K | $49K | $49K | $48K | $7K | $4K | $2K | $102K | $102K | $93K | $2K | $56K | $56K | $53K | $25K | $25K | $11K | $7K | $7K | $82K | $69K | $67K | $67K | $60K |
| Retained Earnings | -$270.07M | -$262.57M | -$256.12M | -$252.34M | -$241.27M | -$225.33M | -$226.23M | -$85.25M | -$75.65M | -$68.53M | -$62.59M | -$59.21M | -$56.55M | -$45.64M | -$42.24M | -$33.37M | -$27.06M | -$18.11M | -$11.3M | -$1.68M | -$1.25M | -$1.23M | -$961K | -$821K | -$809K | -$799K | -$790K |
| Comprehensive Income & Other | -$2.73M | -$3M | -$160K | -$2.62M | -$255K | $1.14M | -$79K | -$69K | $41.28M | -$3.45M | -$318K | -$194K | -$65K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$225K | -$3.6M | -$7K | -$7K | -$7K | -$7K | -$10K |
| Other Stockholders' Equity | $206.39M | $206.03M | $208.3M | $218.2M | $219.77M | $219.87M | $215.13M | $89.26M | $80.19M | $68.28M | $57.65M | $57.35M | $54.3M | $32.57M | $30.76M | $29.11M | $27.14M | $17.93M | $16.63M | $1.46M | $928K | $928K | $853K | $736K | $730K | $730K | $740K |
| Total Equity | -$63.61M | -$56.48M | -$47.76M | -$34.09M | -$21.45M | -$5.42M | -$11.05M | $4.02M | $4.55M | -$257K | -$4.84M | -$1.76M | -$2.16M | -$13.07M | -$11.42M | -$4.2M | $137K | -$152K | $5.35M | -$217K | -$313K | -$292K | -$26K | -$16K | -$12K | -$1K | $10K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$734K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $21.44M | $23.6M | $35.18M | $48.23M | $56.73M | $59.27M | $59.46M | $5.89M | $6.1M | $1.32M | $567K | $1.34M | $1.4M | $125K | $370K | $238K | $2.06M | $1.58M | $6.01M | $112K | $0 | $0 | $1K | $1K | $3K | $5K | $20K |
| Supplementary Data | |||||||||||||||||||||||||||
| Total Debt | $32.56M | $32.96M | $32.65M | $30.82M | $29.91M | $18.99M | $19.48M | $591K | $36K | $94K | $2.77M | $1.48M | $13K | $291K | $4.28M | $30K | $103K | $243K | $50K | $0 | $107K | $90K | $15K | $9K | $6K | $0 | $0 |
| Net Debt | $30.43M | $31.57M | $30.1M | $28.8M | $27.64M | $16.5M | $17.71M | -$2.66M | -$5.41M | -$225K | $2.34M | $241K | -$1.26M | $283K | $4.19M | -$32K | -$1.82M | -$778K | -$5.74M | -$112K | $107K | $90K | $15K | $8K | $4K | -$2K | $0 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
| Operating Activities | |||||||||||||||||||||||||||
| Net Income | -$7.49M | -$6.45M | -$3.73M | -$10.63M | -$15.95M | $1.1M | -$54.84M | -$10.33M | -$7.11M | -$5.94M | -$3.38M | -$2.66M | -$10.91M | -$3.41M | -$8.87M | -$8.17M | -$8.52M | -$5.37M | -$3.28M | -$436K | -$21K | -$266K | -$140K | -$12K | -$10K | -$8K | -$20K |
| Depreciation & Amortization | $39K | $22K | $32K | $53K | $59K | $60K | $73K | $118K | $49K | $7K | $8K | $10K | $13K | $19K | $12K | $9K | $9K | $6K | $20K | $225K | $80K | $0 | $0 | $0 | $65 | $231 | $0 |
| Deferred Income Tax | $0 | $0 | -$100K | $0 | $9.66M | -$427K | $19.01M | $800 | $0 | -$488K | $482K | -$1.13M | $5.38M | -$3.7M | -$2.63M | $336K | $320K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $25K | $256K | $1.26M | $16K | $553K | $739K | $3.81M | $1.59M | $2.09M | $758K | $242K | $1.01M | $1.26M | $1.35M | $1.61M | $1.3M | $851K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||||||
| Accounts Receivable | -$182K | $2.9M | -$5.15M | $607K | -$845K | $1.95M | -$361K | -$500 | -$1K | $7K | -$3K | $17K | -$14K | $7K | -$6K | -$150 | $14K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$21K | $7K | $650K | $434K | $462K | -$245K | -$3.27M | -$92K | -$517K | $52K | $31K | -$19K | -$51K | -$12K | $0 | -$166K | $8K | $0 | $0 | $0 | $0 | $0 | $0 | $253 | $923 | $6K | $0 |
| Accounts Payable | $6.46M | $1.3M | $4.8M | $3.68M | $2.52M | -$3.35M | $4.32M | -$433K | $302K | -$183K | -$16K | $0 | $0 | $0 | $0 | $232K | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$345K | -$7K | -$2.92M | -$2.51M | -$30K | -$2.33M | -$381K | -$172K | $14K | -$39K | $282K | -$524K | -$53K | $1.89M | $659K | $29K | -$40K | $637K | -$432K | $124K | $43K | $191K | $3K | -$79 | $3K | $3K | $0 |
| Total Working Capital Change | $5.91M | $4.2M | -$2.62M | $2.21M | $2.11M | -$3.97M | $311K | -$697K | $13K | -$33K | $279K | -$506K | -$67K | $1.89M | $653K | $95K | $985K | $637K | -$432K | $124K | $43K | $191K | $3K | $174 | $4K | $8K | $10K |
| Other Non-Cash Items | $1.51M | -$311K | $3.65M | $3.27M | $2.31M | $45K | $27.12M | $284K | $173K | $2.72M | $254K | $8K | $1.28M | $1.21M | $5.06M | $1.52M | $1.74M | $1.07M | $732K | $0 | -$119K | $0 | $130K | $0 | $0 | $0 | $0 |
| Net Cash from Operating | -$11K | -$2.29M | -$1.5M | -$5.07M | -$1.25M | -$2.45M | -$4.52M | -$9.04M | -$4.79M | -$2.98M | -$2.11M | -$3.27M | -$3.04M | -$2.63M | -$4.17M | -$4.91M | -$4.61M | -$3.66M | -$2.96M | -$87K | -$17K | -$75K | -$7K | -$11K | -$6K | $808 | -$10K |
| Investing Activities | |||||||||||||||||||||||||||
| Capital Expenditures | -$1K | -$12K | -$17K | -$26K | -$73K | -$26.18M | -$60K | -$55K | -$130K | -$82K | -$5K | -$64K | -$9K | -$26K | -$22K | -$15K | -$2K | -$31K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $5.28M | $0 | $30.12M | -$1.65M | -$307K | -$190K | $0 | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$5.28M | -$6.3M | -$30.12M | $1.65M | $0 | -$190K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $2.51M | $2.23M | $2.92M | $0 | $35.6M | $221K | $0 | $188K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $2.17M | $4K | -$2.65M | -$5.28M | -$6.3M | -$3.96M | -$1.65M | -$7.35M | -$157K | -$14M | $2K | $0 | $1K | -$1.5M | $0 | -$15K | -$2K | -$44K | -$7K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $2.17M | $2.5M | -$432K | -$2.39M | -$6.38M | $5.47M | -$1.48M | -$362K | -$480K | -$82K | $2K | -$64K | $1K | -$26K | -$22K | -$15K | -$2K | -$75K | -$7K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | |||||||||||||||||||||||||||
| Debt Repaid | $1.22M | $500K | -$1.82M | -$2.92M | -$13.09M | - | - | $76K | $57K | -$2.95M | -$1.35M | -$1.64M | -$1.36M | $6K | -$4.23M | -$1M | -$1.52M | $62K | - | $38K | -$17K | -$75K | -$6K | -$2K | -$6K | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $142K | $8.59M | $930K | $10.46M | $0 | $0 | $1.69M | $2.96M | $900 | $0 | $3M | $1.79M | $0 | $8.56M | $238K | $0 | $0 | $0 | $8K | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $186K | $4.31M | -$4K | $0 | $0 | $2.07M | $0 | $0 | $0 | $0 | $296K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K |
| Net Cash from Financing | -$1.43M | -$1.35M | $2.48M | $7.23M | $7.41M | -$2.31M | $3.88M | $7.21M | $10.4M | $2.95M | $1.35M | $3.33M | $4.32M | $2.59M | $4.22M | $4M | $3.61M | -$62K | $8.55M | $199K | $17K | $75K | $6K | $10K | $6K | $0 | $10K |
| Forex Effect | $3K | -$19K | -$16K | -$31K | $12K | $9K | -$13K | $0 | -$13K | -$6K | -$42K | -$3K | -$22K | -$10K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $738K | -$1.16M | $526K | -$258K | -$208K | $718K | -$2.14M | -$2.19M | $5.13M | -$114K | -$809K | -$33K | $1.27M | -$66K | $31K | -$926K | -$1.01M | -$3.79M | $5.59M | $112K | $0 | -$27 | -$283 | -$2K | $147 | $808 | $0 |
| Supplementary Data | |||||||||||||||||||||||||||
| Operating Cash Flow | -$11K | -$2.29M | -$1.5M | -$5.07M | -$1.25M | -$2.45M | -$4.52M | -$9.04M | -$4.79M | -$2.98M | -$2.11M | -$3.27M | -$3.04M | -$2.63M | -$4.17M | -$4.91M | -$4.61M | -$3.66M | -$2.96M | -$87K | -$17K | -$75K | -$7K | -$11K | -$6K | $808 | -$10K |
| Capital Expenditure | -$1K | -$12K | -$17K | -$26K | -$73K | -$26.18M | -$60K | -$55K | -$130K | -$82K | -$5K | -$64K | -$9K | -$26K | -$22K | -$15K | -$2K | -$31K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | -$12K | -$2.3M | -$1.52M | -$5.1M | -$1.33M | -$28.63M | -$4.58M | -$9.09M | -$4.92M | -$3.06M | -$2.12M | -$3.34M | -$3.04M | -$2.66M | -$4.19M | -$4.93M | -$4.62M | -$3.69M | -$2.96M | -$87K | -$17K | -$75K | -$7K | -$11K | -$6K | $808 | -$10K |
| Cash at Beginning | $1.39M | $2.55M | $2.02M | $2.28M | $2.49M | $1.77M | $3.9M | $5.45M | $318K | $432K | $1.24M | $1.27M | $8K | $74K | $62K | $988K | $2M | $5.79M | $205K | $0 | $0 | $27 | $310 | $2K | $2K | $1K | $0 |
| Cash at End | $2.13M | $1.39M | $2.55M | $2.02M | $2.28M | $2.49M | $1.77M | $3.25M | $5.45M | $318K | $432K | $1.24M | $1.27M | $8K | $93K | $62K | $988K | $2M | $5.79M | $112K | $0 | $0 | $27 | $310 | $2K | $2K | $0 |