VASO · Vaso Corp - 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 | $19.36M | - | $22.66M | $19.96M | $19.46M | - | $20.77M | $20.23M | $18.74M | - |
| Cost of Revenue | $7.78M | - | $8.76M | $8.16M | $8.10M | - | $9.01M | $8.07M | $7.82M | - |
| Gross Profit | $11.58M | - | $13.90M | $11.80M | $11.36M | - | $11.76M | $12.15M | $10.92M | - |
| R&D | $183.0K | - | $146.0K | $167.0K | $178.0K | - | $191.0K | $205.0K | $191.0K | - |
| SG&A | $12.72M | - | $12.21M | $12.05M | $12.40M | - | $11.41M | $10.84M | $12.20M | - |
| Total Operating Expenses | $12.91M | - | $12.36M | $12.22M | $12.58M | - | $13.15M | $11.15M | $12.39M | - |
| D&A | $243.0K | - | $179.0K | $192.0K | $185.0K | - | $219.0K | $226.0K | $185.0K | - |
| Operating Income | ($1.33M) | - | $1.54M | ($421.0K) | ($1.22M) | - | ($1.39M) | $996.0K | ($1.47M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | ($188.0K) | - | $35.0K | $40.0K | $40.0K | - | $30.0K | $112.0K | $12.0K | - |
| Net Income | ($887.0K) | - | $1.71M | ($197.0K) | ($1.07M) | - | ($1.18M) | $1.16M | ($1.17M) | - |
| EPS - Basic | ($0.01) | - | $0.01 | $0.00 | ($0.01) | - | $0.01 | $0.01 | ($0.01) | - |
| EPS - Diluted | ($0.01) | - | $0.01 | $0.00 | ($0.01) | - | $0.01 | $0.00 | ($0.01) | - |
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 | $21.97M | $35.05M | $34.86M | $32.56M | $25.31M | $26.27M | $26.84M | $25.65M | $19.54M | $11.34M |
| Accounts Receivable | - | - | $1.10M | $1.09M | $916.0K | - | - | - | $901.0K | - |
| Inventory | $827.0K | $833.0K | $893.0K | $939.0K | $965.0K | $911.0K | $1.16M | $1.22M | $1.57M | $1.47M |
| Accounts Payable | $3.92M | $4.01M | $3.95M | $4.74M | $4.39M | $4.18M | $4.56M | $2.95M | $2.98M | $2.67M |
| Current Assets | $51.14M | $58.56M | $51.91M | $49.97M | $45.98M | $51.19M | $42.99M | $40.89M | $39.00M | $45.10M |
| Total Assets | $82.98M | $88.35M | $84.47M | $82.58M | $77.91M | $82.94M | $73.94M | $72.06M | $69.44M | $75.76M |
| Current Liabilities | $30.56M | $36.85M | $31.60M | $33.02M | $30.25M | $34.72M | $30.17M | $26.84M | $27.27M | $30.04M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $28.60M | $29.43M | $28.24M | $26.50M | $26.65M | $27.70M | $25.66M | $26.72M | $25.58M | $26.84M |
| Retained Earnings | ($33.40M) | ($32.51M) | ($33.64M) | ($35.35M) | ($35.16M) | ($34.08M) | ($36.23M) | ($35.05M) | ($36.20M) | ($35.03M) |
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 | ($12.63M) | - | - | - | ($566.0K) | - | - | - | ($1.07M) | - |
| Investing Cash Flow | ($459.0K) | - | - | - | ($363.0K) | - | - | - | $9.14M | - |
| Financing Cash Flow | - | - | - | - | ($27.0K) | - | - | - | $121.0K | - |
| CapEx | $363.0K | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | ($12.99M) | - | - | - | - | - | - | - | - | - |
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 | 59.8% | - | 61.3% | 59.1% | 58.4% | - | 56.6% | 60.1% | 58.3% | - |
| Operating margin | -6.9% | - | 6.8% | -2.1% | -6.3% | - | -6.7% | 4.9% | -7.8% | - |
| EBITDA margin | -5.6% | - | 7.6% | -1.1% | -5.3% | - | -5.7% | 6.0% | -6.8% | - |
| Net margin | -4.6% | - | 7.6% | -1.0% | -5.5% | - | -5.7% | 5.7% | -6.3% | - |
| Free cash flow margin | -67.1% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 14.64 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 0.9% | - | 0.6% | 0.8% | 0.9% | - | 0.9% | 1.0% | 1.0% | - |
| SG&A / Revenue | 65.7% | - | 53.9% | 60.4% | 63.7% | - | 54.9% | 53.6% | 65.1% | - |
| Effective tax rate | - | - | 2.0% | - | - | - | - | 8.8% | - | - |
| Return on assets | -1.1% | - | 2.0% | -0.2% | -1.4% | - | -1.6% | 1.6% | -1.7% | - |
| Return on equity | -3.1% | - | 6.1% | -0.7% | -4.0% | - | -4.6% | 4.3% | -4.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.67 | 1.59 | 1.64 | 1.51 | 1.52 | 1.47 | 1.43 | 1.52 | 1.43 | 1.50 |
| Quick ratio | 1.65 | 1.57 | 1.61 | 1.48 | 1.49 | 1.45 | 1.39 | 1.48 | 1.37 | 1.45 |
| Cash ratio | 0.72 | 0.95 | 1.10 | 0.99 | 0.84 | 0.76 | 0.89 | 0.96 | 0.72 | 0.38 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.90 | 3.00 | 2.99 | 3.12 | 2.92 | 2.99 | 2.88 | 2.70 | 2.71 | 2.82 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | - | 0.27 | 0.24 | 0.25 | - | 0.28 | 0.28 | 0.27 | - |
| Inventory turnover | 9.41 | - | 9.81 | 8.69 | 8.40 | - | 7.80 | 6.63 | 4.99 | - |
| Days sales outstanding | - | - | 18d | 20d | 17d | - | - | - | 18d | - |
| Days inventory outstanding | 39d | - | 37d | 42d | 43d | - | 47d | 55d | 73d | - |
| Days payable outstanding | 184d | - | 164d | 212d | 198d | - | 185d | 133d | 139d | - |
| Cash conversion cycle | - | - | -109d | -150d | -137d | - | - | - | -48d | - |
| Valuation | ||||||||||
| P / E | - | - | 12.0x | - | - | - | 19.0x | - | - | - |
| P / B | 0.0x | - | 0.7x | 0.9x | 0.9x | - | 1.3x | 2.0x | 2.1x | - |
| P / S | 0.0x | - | 0.9x | 1.1x | 1.3x | - | 1.6x | 2.6x | 2.8x | - |
| EV / EBITDA | - | - | -8.0x | - | - | - | - | 22.2x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -0.5% | - | 9.1% | -1.3% | 3.9% | - | 6.8% | -1.0% | -2.5% | - |
| Revenue CAGR (3y) | 0.2% | - | 4.2% | 0.8% | 4.6% | - | 4.1% | 7.8% | 4.3% | - |
| Revenue CAGR (5y) | 3.2% | - | 5.3% | 4.1% | 2.4% | - | 2.1% | 2.9% | 3.8% | - |
| Gross profit growth (YoY) | 1.9% | - | 18.2% | -2.9% | 4.0% | - | -2.4% | -5.0% | -6.8% | - |
| Operating income growth (YoY) | -9.2% | - | - | - | 17.0% | - | - | -47.8% | - | - |
| Net income growth (YoY) | 17.5% | - | - | - | 8.4% | - | - | -44.3% | - | - |
| EPS growth (YoY) | 0.0% | - | 0.0% | - | 0.0% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | 0.0% | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 7.3% | 6.2% | 10.0% | -0.8% | 4.2% | 3.2% | 0.2% | 5.9% | 9.5% | 17.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$135.73M totalProfessional Sales Service Segments$44.19M · 32.6%
Professional Sales Services$44.19M · 32.6%
ITSegment$42.47M · 31.3%
Equipment Segments$2.44M · 1.8%
Equipments$2.44M · 1.8%
Product / service
$220.66M totalCommissions$44.19M · 20.0%
Professional Sales Services$44.19M · 20.0%
Managed ITSystems And Services$42.47M · 19.2%
Network Services$39.29M · 17.8%
Revenue Recognized Over Time$38.44M · 17.4%
Revenue Recognized At APoint In Time$4.03M · 1.8%
Software Sales And Support$3.18M · 1.4%
Equipment Sales And Services$2.44M · 1.1%
Medical Equipment Sales$2.32M · 1.1%
Medical Equipment Service$121.0K · 0.1%
Geographic
$89.10M totalDomestic United States$86.69M · 97.3%
Non Domestic Foreign$2.41M · 2.7%
Peer comparison
Same SIC group: Electromedical & Electrotherapeutic Apparatus
Comparing VASO Corp against the 5 most active filers in the same SIC group.