NNUP · Nocopi Technologies Inc/MD/ - 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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $389.7K | - | $385.8K | $360.0K | $479.0K | - | $668.4K | $459.0K | $398.3K | - |
| Cost of Revenue | $199.1K | - | $208.3K | $168.5K | $232.7K | - | $288.1K | $228.7K | $232.7K | - |
| Gross Profit | $190.6K | - | $177.5K | $191.5K | $273.7K | - | $380.3K | $230.3K | $165.6K | - |
| R&D | $55.8K | - | $43.6K | $43.2K | $45.0K | - | $43.6K | $42.1K | $41.4K | - |
| SG&A | $221.8K | - | $205.3K | $263.5K | $223.5K | - | $727.4K | $1.25M | $1.21M | - |
| Total Operating Expenses | $352.1K | - | $320.2K | $364.0K | $359.5K | - | $862.6K | $1.37M | $1.33M | - |
| D&A | $2.4K | - | - | - | $1.7K | - | - | - | $14.2K | - |
| Operating Income | ($161.5K) | - | ($142.7K) | ($172.5K) | ($85.8K) | - | ($482.3K) | ($1.14M) | ($1.16M) | - |
| Interest Expense | $6.0K | - | $6.1K | $6.1K | $5.9K | - | $5.8K | $5.8K | $5.7K | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | - | - | - |
| Net Income | ($62.3K) | - | ($26.8K) | ($58.6K) | $25.5K | - | ($251.1K) | ($1.01M) | ($1.03M) | - |
| EPS - Basic | ($0.01) | - | $0.00 | ($0.01) | $0.00 | - | ($0.02) | ($0.10) | ($0.10) | - |
| EPS - Diluted | ($0.01) | - | $0.00 | ($0.01) | $0.00 | - | ($0.02) | ($0.10) | ($0.10) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.91M | $11.55M | $11.50M | $11.29M | $11.21M | $10.84M | $10.94M | $4.68M | $3.60M | $2.27M |
| Accounts Receivable | $1.13M | $936.7K | $987.1K | $1.13M | $1.18M | $1.23M | $1.25M | $1.10M | $981.5K | $1.12M |
| Inventory | $404.1K | $456.9K | $404.2K | $372.2K | $323.8K | $349.6K | $351.5K | $319.3K | $370.3K | $448.0K |
| Accounts Payable | $33.5K | $30.6K | $64.6K | $107.6K | $62.9K | $20.9K | $68.4K | $100.2K | $47.7K | $27.5K |
| Current Assets | $13.54M | $13.09M | $12.99M | $12.91M | $12.81M | $12.58M | $12.68M | $12.28M | $12.17M | $12.11M |
| Total Assets | $14.34M | $14.04M | $14.10M | $14.20M | $14.03M | $13.92M | $14.18M | $13.93M | $13.90M | $14.00M |
| Current Liabilities | $278.2K | $290.8K | $255.3K | $438.1K | $280.5K | $191.2K | $3.89M | $3.48M | $2.43M | $1.49M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | $281.6K | - | - | - | $1.62M |
| Stockholders' Equity | $13.95M | $13.60M | $13.67M | $13.61M | $13.67M | $13.64M | $10.19M | $10.35M | $11.35M | $12.38M |
| Retained Earnings | ($12.27M) | ($12.20M) | ($12.11M) | ($12.08M) | ($12.02M) | ($12.05M) | ($11.65M) | ($11.40M) | ($10.40M) | ($9.37M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($27.0K) | - | - | - | $369.7K | - | - | - | $264.2K | - |
| Investing Cash Flow | ($13.6K) | - | - | - | $0 | - | - | - | $1.07M | - |
| Financing Cash Flow | $0 | - | - | - | - | - | - | - | - | - |
| CapEx | $13.6K | - | - | - | $0 | - | - | - | $8.0K | - |
| Free Cash Flow | ($40.6K) | - | - | - | $369.7K | - | - | - | $256.2K | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 48.9% | - | 46.0% | 53.2% | 57.1% | - | 56.9% | 50.2% | 41.6% | - |
| Operating margin | -41.4% | - | -37.0% | -47.9% | -17.9% | - | -72.2% | -248.9% | -291.1% | - |
| EBITDA margin | -40.8% | - | - | - | -17.6% | - | - | - | -287.6% | - |
| Net margin | -16.0% | - | -6.9% | -16.3% | 5.3% | - | -37.6% | -219.0% | -258.1% | - |
| Free cash flow margin | -10.4% | - | - | - | 77.2% | - | - | - | 64.3% | - |
| FCF / Net income | 0.65 | - | - | - | 14.50 | - | - | - | -0.25 | - |
| R&D / Revenue | 14.3% | - | 11.3% | 12.0% | 9.4% | - | 6.5% | 9.2% | 10.4% | - |
| SG&A / Revenue | 56.9% | - | 53.2% | 73.2% | 46.7% | - | 108.8% | 273.4% | 305.0% | - |
| Effective tax rate | - | - | - | - | 0.0% | - | - | - | - | - |
| Return on assets | -0.4% | - | -0.2% | -0.4% | 0.2% | - | -1.8% | -7.2% | -7.4% | - |
| Return on equity | -0.4% | - | -0.2% | -0.4% | 0.2% | - | -2.5% | -9.7% | -9.1% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 48.66 | 45.02 | 50.87 | 29.48 | 45.66 | 65.79 | 3.26 | 3.53 | 5.01 | 8.14 |
| Quick ratio | 47.20 | 43.45 | 49.29 | 28.63 | 44.50 | 63.96 | 3.17 | 3.44 | 4.85 | 7.84 |
| Cash ratio | 42.82 | 39.73 | 45.04 | 25.78 | 39.96 | 56.69 | 2.81 | 1.35 | 1.48 | 1.53 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -26.9x | - | -23.4x | -28.3x | -14.5x | - | -83.2x | -197.0x | -203.4x | - |
| Equity multiplier | 1.03 | 1.03 | 1.03 | 1.04 | 1.03 | 1.02 | 1.39 | 1.35 | 1.22 | 1.13 |
| Liabilities / Assets | - | - | - | - | - | 0.02 | - | - | - | 0.12 |
| Efficiency | ||||||||||
| Asset turnover | 0.03 | - | 0.03 | 0.03 | 0.03 | - | 0.05 | 0.03 | 0.03 | - |
| Inventory turnover | 0.49 | - | 0.52 | 0.45 | 0.72 | - | 0.82 | 0.72 | 0.63 | - |
| Days sales outstanding | 1060d | - | 934d | 1150d | 899d | - | 685d | 873d | 899d | - |
| Days inventory outstanding | 741d | - | 708d | 806d | 508d | - | 445d | 510d | 581d | - |
| Days payable outstanding | 61d | - | 113d | 233d | 99d | - | 87d | 160d | 75d | - |
| Cash conversion cycle | 1740d | - | 1529d | 1723d | 1308d | - | 1043d | 1223d | 1405d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 755.0x | - | - | - | - | - |
| P / B | 1.2x | - | 1.2x | 1.2x | 1.2x | - | 2.1x | 2.9x | 2.7x | - |
| P / S | 42.6x | - | 42.8x | 45.3x | 34.0x | - | 32.6x | 64.7x | 77.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -18.6% | - | -42.3% | -21.6% | 20.3% | - | 16.2% | -23.4% | -32.7% | - |
| Revenue CAGR (3y) | -13.0% | - | -17.5% | -11.2% | 12.2% | - | 28.8% | -3.7% | -13.3% | - |
| Revenue CAGR (5y) | -8.6% | - | -12.6% | -10.5% | -1.6% | - | 1.0% | -2.3% | -0.5% | - |
| Gross profit growth (YoY) | -30.4% | - | -53.3% | -16.8% | 65.3% | - | 43.5% | -37.8% | -46.9% | - |
| Operating income growth (YoY) | -88.2% | - | 70.4% | 84.9% | 92.6% | - | 29.0% | - | -5501.9% | - |
| Net income growth (YoY) | - | - | 89.3% | 94.2% | - | - | 44.6% | - | - | - |
| EPS growth (YoY) | - | - | - | 90.0% | - | - | 60.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | 44.3% | - | - | - | 344.8% | - |
| FCF CAGR (5y) | - | - | - | - | -6.5% | - | - | - | - | - |
| Book value growth (YoY) | 2.1% | -0.3% | 34.2% | 31.5% | 20.4% | 10.2% | -24.4% | 15.9% | 28.3% | 40.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$1.49M totalProductand Other Sales$888.7K · 59.5%
Licenses Royalties And Fees$605.1K · 40.5%
Geographic
$1.49M totalAsia$822.6K · 55.1%
North America$590.0K · 39.5%
AU$81.2K · 5.4%
Peer comparison
Same SIC group: Games, Toys & Children's Vehicles (No Dolls & Bicycles)
Comparing NOCOPI TECHNOLOGIES INC/MD/ against the 4 most active filers in the same SIC group.