NCPL · Netcapital Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $94.3K | $51.1K | $190.1K | $2.04M | $152.7K | $1.52M | $2.04M | $2.26M | $1.52M | $1.78M |
| Cost of Revenue | $1.8K | $1.9K | $7.4K | $19.8K | $7.2K | $10.2K | $20.1K | $58.9K | $18.1K | $36.2K |
| Gross Profit | $92.5K | $49.2K | $182.6K | $150.7K | $145.5K | $132.0K | $2.02M | $983.9K | $1.50M | $1.74M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $874.5K | $1.50M | $1.38M | $1.49M | $921.6K | $1.38M | $648.6K | $1.09M | $788.3K | $280.8K |
| Total Operating Expenses | $2.27M | $2.17M | $3.47M | $2.35M | $1.83M | $2.64M | $1.97M | $2.19M | $2.25M | $1.41M |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($2.17M) | ($2.12M) | ($3.29M) | ($2.20M) | ($1.69M) | ($2.51M) | $52.2K | ($1.21M) | ($749.0K) | $335.2K |
| Interest Expense | $24.1K | $12.2K | $36.1K | $10.6K | $11.9K | $13.3K | $10.6K | $11.9K | $13.3K | $23.0K |
| Income Tax | - | - | - | - | - | - | ($326.3K) | ($1.71M) | ($299.0K) | $99.0K |
| Net Income | ($1.81M) | ($2.13M) | ($3.64M) | ($2.22M) | ($3.01M) | ($2.53M) | $339.6K | ($2.23M) | ($491.7K) | $183.1K |
| EPS - Basic | ($0.32) | ($0.44) | ($1.27) | ($2.34) | ($1.57) | ($5.10) | $2.80 | ($13.30) | ($4.90) | $2.80 |
| EPS - Diluted | ($0.32) | ($0.44) | ($1.27) | ($2.34) | ($1.57) | ($5.10) | $2.80 | ($13.30) | ($4.90) | $2.80 |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $715.4K | $1.68M | $4.56M | $289.4K | $614.3K | $855.2K | $863.2K | $2.17M | $1.03M | $569.4K |
| Accounts Receivable | $1.2K | $12.5K | $20.0K | $78.6K | - | - | $134.8K | $3.70M | $1.35M | $1.39M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.67M | $1.28M | $1.93M | $2.94M | $2.16M | $793.3K | $793.3K | $828.8K | $587.0K | $578.3K |
| Current Assets | $1.04M | $2.01M | $4.99M | $399.6K | $672.8K | $924.9K | $1.04M | $6.05M | $2.83M | $2.54M |
| Total Assets | $26.06M | $25.44M | $28.43M | $20.90M | $39.90M | $41.44M | $41.56M | $44.14M | $43.43M | $41.82M |
| Current Liabilities | $3.96M | $3.51M | $4.81M | $5.50M | $4.43M | $3.43M | $3.12M | $3.33M | $4.47M | $5.16M |
| Long-term Debt | $492.4K | $495.8K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K |
| Total Liabilities | $4.46M | $4.00M | $5.31M | $6.00M | $4.93M | $3.93M | $3.62M | $3.83M | $4.97M | $5.66M |
| Stockholders' Equity | $21.60M | $21.44M | $23.13M | $14.91M | $34.97M | $37.51M | $37.94M | $40.30M | $38.47M | $36.16M |
| Retained Earnings | ($35.41M) | ($33.59M) | ($31.46M) | ($27.82M) | ($7.27M) | ($2.05M) | $479.6K | $3.09M | $4.97M | $5.47M |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($4.21M) | - | - | ($1.96M) | - | - | ($1.46M) | - |
| Investing Cash Flow | - | - | - | - | - | - | - | - | - | - |
| Financing Cash Flow | - | - | $8.49M | - | - | $1.96M | - | - | $1.93M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 98.1% | 96.3% | 96.1% | 7.4% | 95.3% | 8.7% | 99.0% | 43.5% | 98.8% | 98.0% |
| Operating margin | -2304.6% | -4149.6% | -1728.8% | -107.9% | -1105.4% | -165.0% | 2.6% | -53.3% | -49.3% | 18.8% |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -1921.5% | -4169.3% | -1916.3% | -108.8% | -1969.1% | -166.3% | 16.6% | -98.5% | -32.3% | 10.3% |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 926.9% | 2945.4% | 726.2% | 73.1% | 603.6% | 90.8% | 31.8% | 48.3% | 51.9% | 15.8% |
| Effective tax rate | - | - | - | - | - | - | -2448.3% | - | - | 35.1% |
| Return on assets | -7.0% | -8.4% | -12.8% | -10.6% | -7.5% | -6.1% | 0.8% | -5.0% | -1.1% | 0.4% |
| Return on equity | -8.4% | -9.9% | -15.7% | -14.9% | -8.6% | -6.7% | 0.9% | -5.5% | -1.3% | 0.5% |
| Return on invested capital | - | - | - | - | - | - | 0.1% | -2.3% | -1.5% | 0.6% |
| Liquidity | ||||||||||
| Current ratio | 0.26 | 0.57 | 1.04 | 0.07 | 0.15 | 0.27 | 0.33 | 1.82 | 0.63 | 0.49 |
| Quick ratio | 0.26 | 0.57 | 1.04 | 0.07 | 0.15 | 0.27 | 0.33 | 1.82 | 0.63 | 0.49 |
| Cash ratio | 0.18 | 0.48 | 0.95 | 0.05 | 0.14 | 0.25 | 0.28 | 0.65 | 0.23 | 0.11 |
| Leverage | ||||||||||
| Debt / Equity | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / Assets | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -90.3x | -173.7x | -91.1x | -208.5x | -141.6x | -188.5x | 4.9x | -101.1x | -56.3x | 14.6x |
| Equity multiplier | 1.21 | 1.19 | 1.23 | 1.40 | 1.14 | 1.10 | 1.10 | 1.10 | 1.13 | 1.16 |
| Liabilities / Assets | 0.17 | 0.16 | 0.19 | 0.29 | 0.12 | 0.09 | 0.09 | 0.09 | 0.11 | 0.14 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | 0.00 | 0.01 | 0.10 | 0.00 | 0.04 | 0.05 | 0.05 | 0.03 | 0.04 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 5d | 89d | 38d | 14d | - | - | 24d | 598d | 325d | 285d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 333814d | 248388d | 95304d | 54269d | 110226d | 28333d | 14382d | 5138d | 11868d | 5826d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | 3.3x | - | - | 34.0x |
| P / B | 0.2x | 0.5x | 0.4x | 0.1x | 0.1x | 0.1x | 2.3x | 3.5x | 9.2x | 11.3x |
| P / S | 42.4x | 204.4x | 51.3x | 0.9x | 25.8x | 1.6x | 43.0x | 62.9x | 234.0x | 229.6x |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -38.2% | -97.5% | -87.5% | 0.0% | -93.2% | 0.0% | 14.8% | 0.0% | 13.4% | 48.3% |
| Revenue CAGR (3y) | -65.3% | -69.4% | -47.9% | 19.4% | -56.2% | 34.5% | - | - | - | 34.5% |
| Revenue CAGR (5y) | - | - | - | 22.8% | -34.6% | -2.9% | 97.1% | 79.5% | 279.4% | 136.4% |
| Gross profit growth (YoY) | -36.4% | -67.4% | 38.4% | -92.5% | -85.2% | -91.2% | 16.0% | -56.4% | 13.8% | 47.4% |
| Operating income growth (YoY) | -28.8% | 3.8% | -31.0% | - | -40.0% | -234.9% | -84.4% | - | - | - |
| Net income growth (YoY) | 39.7% | 4.1% | -44.1% | - | -35.0% | -414.0% | 85.4% | - | - | - |
| EPS growth (YoY) | 79.6% | 81.2% | 75.1% | - | 88.2% | -4.1% | 0.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | 242.0% |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -38.2% | 43.8% | -38.3% | -60.7% | -13.2% | -2.5% | 4.9% | 17.6% | 29.7% | 43.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-04-30.
Product / service
$869.5K totalFees From Online Services$869.5K · 100.0%
Peer comparison
Same SIC group: Finance Services
Comparing Netcapital Inc. against the 5 most active filers in the same SIC group.