NASDAQ : NCPL
Netcapital Inc. — Financial statements
Financials · Capital Markets · United States
Last price 1.78 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 13.97M
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Financial statements
Netcapital Inc. (NCPL) reported revenue of 739.50K USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year May - April; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 739.50K | 869.46K | 4.95M | 8.49M | 5.48M | 4.72M |
| Cost of Revenue | 14.30K | 40.34K | 108.06K | 85.04K | 110.11K | 759.16K |
| Gross Profit | 725.21K | 829.12K | 4.84M | 8.41M | 5.37M | 3.96M |
| Selling, General & Admin | 10.23M | 9.15M | 8.29M | 6.14M | 6.40M | 4.36M |
| Amortization of Goodwill & Intangibles | 80.91K | 35.48K | 93.86K | 96.41K | ||
| Other Operating Expenses | -1.20K | -1.20K | -1.20K | -51.65K | -25.01K | |
| Operating Expenses | 10.31M | 9.18M | 8.38M | 6.18M | 6.38M | 4.36M |
| Operating Income | -9.58M | -8.36M | -3.54M | 2.23M | -1.01M | -401.50K |
| Interest Expense | -446.55K | -48.23K | -45.99K | -93.84K | -126.37K | -87.33K |
| EBT Excluding Unusual Items | -10.02M | -8.40M | -3.58M | 2.13M | -1.13M | -488.83K |
| Gain (Loss) on Sale of Investments | 513.04K | 18.05K | -2.70M | 1.45M | 3.28M | 2.57M |
| Asset Writedown | -18.62M | -19.92M | -1.05M | |||
| Other Unusual Items | -10.81K | 224.26K | 1.90M | |||
| Pretax Income | -28.13M | -28.30M | -7.33M | 3.81M | 4.05M | 2.08M |
| Income Tax Expense | -2.34M | 854.00K | 544.00K | 613.00K | ||
| Net Income | -28.13M | -28.30M | -4.99M | 2.95M | 3.50M | 1.47M |
| Net Income to Common | -28.13M | -28.30M | -4.99M | 2.95M | 3.50M | 1.47M |
| Shares Outstanding (Basic) | 3.87M | 1.39M | 172.94K | 66.82K | 38.09K | 17.86K |
| Shares Outstanding (Diluted) | 3.87M | 1.39M | 172.94K | 66.82K | 39.26K | 23.53K |
| EPS (Basic) | -7.27 | -20.39 | -28.83 | 44.22 | 91.99 | 82.30 |
| EPS (Diluted) | -7.27 | -20.39 | -28.83 | 44.10 | 88.90 | 62.30 |
| Gross Margin | 98.07% | 95.36% | 97.82% | 99.00% | 97.99% | 83.92% |
| Operating Margin | -1,295.75% | -961.01% | -71.39% | 26.22% | -18.36% | -8.51% |
| Profit Margin | -3,804.10% | -3,255.05% | -100.70% | 34.79% | 63.92% | 31.13% |
| EBITDA | -9.50M | -8.32M | -3.44M | 2.32M | ||
| EBITDA Margin | -69.50% | 27.36% | ||||
| D&A For EBITDA | 80.91K | 35.48K | 93.86K | 96.41K | ||
| EBIT | -9.58M | -8.36M | -3.54M | 2.23M | -1.01M | -401.50K |
| EBIT Margin | -71.39% | 26.22% | -18.36% | -8.50% | ||
| Effective Tax Rate | 22.42% | 13.44% | 29.43% |
Balance sheet
Fiscal year May - April; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 715.44K | 289.43K | 863.18K | 569.44K | 473.93K | 2.47M |
| Cash & Short-Term Investments | 715.44K | 289.43K | 863.18K | 569.44K | 473.93K | 2.47M |
| Accounts Receivable | 1.23K | 78.65K | 134.85K | 1.39M | 2.43M | 1.36M |
| Other Receivables | 11.67K | 1.20K | 668.00 | |||
| Receivables | 12.90K | 78.65K | 156.05K | 1.39M | 2.43M | 1.36M |
| Prepaid Expenses | 313.58K | 31.54K | 23.30K | 583.03K | 5.69K | 653.86K |
| Total Current Assets | 1.04M | 399.61K | 1.04M | 2.54M | 2.91M | 4.48M |
| Long-Term Investments | 5.81M | 5.75M | 25.57M | 23.20M | 13.10M | 6.42M |
| Other Intangible Assets | 19.15M | 14.70M | 14.73M | 15.88M | 15.54M | 14.80M |
| Other Long-Term Assets | 6.30K | 6.30K | 6.30K | 6.30K | 6.30K | 6.30K |
| Total Assets | 26.06M | 20.90M | 41.56M | 41.82M | 31.76M | 25.72M |
| Accounts Payable | 1.67M | 2.94M | 793.33K | 653.53K | 914.59K | 4.15M |
| Accrued Expenses | 369.57K | 370.77K | 402.78K | 383.32K | 452.16K | 422.79K |
| Short-Term Debt | 34.32K | 297.76K | 34.32K | 399.32K | 1.76M | 1.06M |
| Current Portion of Long-Term Debt | 1.89M | 1.89M | 1.89M | 1.89M | 1.89M | 1.89M |
| Current Income Taxes Payable | 174.00K | |||||
| Current Unearned Revenue | 270.00 | 330.00 | 466.00 | 661.00 | 2.53K | 622.00 |
| Other Current Liabilities | 10.00K | 33.40K | 1.20M | |||
| Total Current Liabilities | 3.96M | 5.50M | 3.12M | 5.16M | 6.03M | 9.15M |
| Long-Term Debt | 492.44K | 500.00K | 500.00K | 500.00K | 495.07K | 2.39M |
| Total Liabilities | 4.46M | 6.00M | 3.62M | 5.66M | 6.52M | 11.54M |
| Common Stock | 6.85K | 2.19K | 327.00 | 6.44K | 2.93K | 2.18K |
| Additional Paid-In Capital | 57.00M | 42.53M | 37.34M | 30.50M | 22.48M | 15.17M |
| Retained Earnings | -35.41M | -27.82M | 479.56K | 5.47M | 2.51M | -992.62K |
| Comprehensive Income & Other | 200.00K | 122.12K | 183.19K | 244.25K | ||
| Shareholders' Equity | 21.60M | 14.91M | 37.94M | 36.16M | 25.24M | 14.18M |
| Total Liabilities & Equity | 26.06M | 20.90M | 41.56M | 41.82M | 31.76M | 25.72M |
| Total Debt | 2.42M | 2.68M | 2.42M | 2.79M | 4.14M | 5.33M |
| Net Cash (Debt) | -1.70M | -2.39M | -1.56M | -2.22M | -3.67M | -2.85M |
| Net Cash Per Share | -0.44 | -1.73 | -9.00 | -33.16 | -93.45 | -121.31 |
| Filing Date Shares Outstanding | 7.85M | 4.72M | 579.15K | 134.50K | 61.04K | 41.38K |
| Total Common Shares Outstanding | 6.85M | 2.19M | 326.87K | 92.01K | 41.92K | 31.12K |
| Working Capital | -2.92M | -5.10M | -2.07M | -2.62M | -3.11M | -4.67M |
| Book Value Per Share | 3.15 | 6.80 | 116.07 | 392.98 | 602.06 | 455.54 |
| Tangible Book Value | 2.45M | 208.19K | 23.21M | 20.28M | 9.70M | -625.41K |
| Tangible Book Value Per Share | 0.36 | 0.09 | 71.00 | 220.43 | 231.43 | -20.09 |
Cash flow statement
Fiscal year May - April; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -28.13M | -28.30M | -4.99M | 2.95M | 3.50M | 1.47M |
| Depreciation & Amortization | 80.91K | 35.48K | 93.86K | 96.41K | ||
| Asset Writedown & Restructuring Costs | 18.62M | 19.92M | 1.05M | |||
| Loss (Gain) From Sale of Investments | -13.04K | -18.05K | 2.70M | -1.45M | -3.28M | -2.57M |
| Stock-Based Compensation | 1.36M | 757.48K | 1.32M | 269.58K | 1.18M | 680.61K |
| Provision & Write-off of Bad Debts | 178.53K | 178.53K | 267.50K | 5.44K | 76.63K | 60.33K |
| Other Operating Activities | 263.50K | -65.15K | -5.08M | -7.65M | -3.75M | -1.71M |
| Change in Accounts Receivable | -5.37K | 52.07K | -293.85K | 1.04M | -1.15M | -1.42M |
| Change in Accounts Payable | -482.20K | 2.11M | 240.23K | 88.20K | 272.41K | 184.52K |
| Change in Unearned Revenue | -90.00 | -136.00 | -195.00 | -1.87K | 1.91K | -34.00 |
| Change in Income Taxes | -174.00K | 174.00K | ||||
| Change in Other Net Operating Assets | -255.52K | -1.12K | -11.85K | -138.85K | 140.60K | 49.34K |
| Operating Cash Flow | -8.39M | -5.34M | -4.88M | -4.62M | -3.01M | -3.25M |
| Cash Acquisitions | 364.94K | |||||
| Investment in Securities | 200.00K | -117.17K | -122.91K | |||
| Other Investing Activities | -20.00K | -202.00K | ||||
| Investing Cash Flow | -100.00K | -20.00K | 200.00K | -319.17K | 242.03K | |
| Short-Term Debt Issued | 256.50K | |||||
| Long-Term Debt Issued | 700.00K | 4.27M | ||||
| Total Debt Issued | 556.50K | 256.50K | 700.00K | 4.27M | ||
| Long-Term Debt Repaid | -350.00K | -1.05M | ||||
| Net Debt Issued (Repaid) | -63.35K | 256.50K | -350.00K | -1.05M | 700.00K | 4.27M |
| Issuance of Common Stock | 8.65M | 4.51M | 5.54M | 5.57M | 625.80K | 1.20M |
| Other Financing Activities | -7.86K | |||||
| Financing Cash Flow | 8.59M | 4.77M | 5.19M | 4.51M | 1.33M | 5.47M |
| Net Cash Flow | 101.14K | -573.75K | 293.74K | 95.52K | -2.00M | 2.46M |
| Levered Free Cash Flow | -5.66M | -2.27M | -709.14K | 2.67M | -3.79M | 4.56M |
| Unlevered Free Cash Flow | -5.39M | -2.24M | -680.39K | 2.73M | -3.71M | 4.62M |
| Cash Interest Paid | 46.32K | 32.85K | 50.27K | 207.69K | 2.06K | 2.07K |
| Cash Income Tax Paid | 4.99K | |||||
| Change in Working Capital | -743.18K | 2.16M | -239.67K | 1.16M | -739.34K | -1.18M |
Ratios
Fiscal year May - April; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.48M | 4.43M | 2.66M | 8.26M | 26.07M | 24.80M |
| Enterprise Value | 14.18M | 6.23M | 2.92M | 9.27M | 29.04M | 27.96M |
| Last Close Price | 1.59 | 2.02 | 9.29 | 95.20 | 630.00 | 805.00 |
| PE Ratio | 2.79 | 7.44 | 16.88 | |||
| Forward PE | 0.79 | 0.79 | ||||
| PS Ratio | 16.87 | 5.09 | 0.54 | 0.97 | 4.76 | 5.25 |
| PB Ratio | 0.50 | 0.30 | 0.07 | 0.23 | 1.03 | 1.75 |
| P/TBV Ratio | 5.09 | 21.27 | 0.11 | 0.41 | 2.69 | |
| EV/Sales Ratio | 19.18 | 7.17 | 0.59 | 1.09 | 5.30 | 5.92 |
| EV/EBITDA Ratio | 3.99 | |||||
| EV/EBIT Ratio | 4.16 | |||||
| Debt / Equity Ratio | 0.11 | 0.18 | 0.06 | 0.08 | 0.16 | 0.38 |
| Debt / EBITDA Ratio | 1.20 | |||||
| Net Debt / Equity Ratio | 0.08 | 0.16 | 0.04 | 0.06 | 0.14 | 0.20 |
| Net Debt / EBITDA Ratio | -0.18 | -0.29 | -0.45 | 0.95 | ||
| Asset Turnover | 0.02 | 0.03 | 0.12 | 0.23 | 0.19 | 0.34 |
| Quick Ratio | 0.18 | 0.07 | 0.32 | 0.38 | 0.48 | 0.42 |
| Current Ratio | 0.26 | 0.07 | 0.33 | 0.49 | 0.48 | 0.49 |
| Return on Equity (ROE) | -99.45% | -107.11% | -13.46% | 9.63% | 17.78% | 19.78% |
| Return on Assets (ROA) | -18.16% | -16.72% | -5.30% | 3.78% | -2.19% | -1.80% |
| Return on Invested Capital (ROIC) | -42.14% | -29.42% | -9.08% | 5.14% | -3.79% | -3.02% |
| Return on Capital Employed (ROCE) | -43.40% | -54.20% | -9.20% | 6.10% | -3.90% | -2.40% |
| Earnings Yield | -456.93% | -639.15% | -187.78% | 35.78% | 13.44% | 5.93% |
| Buyback Yield / Dilution | -324.94% | -702.41% | -158.81% | -70.18% | -66.85% |