WAVS · Western Acquisition Ventures 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 | $3.27M | - | $3.83M | $5.00M | $4.24M | - | - | - | - | - |
| Cost of Revenue | $2.58M | - | $3.56M | $3.98M | $3.90M | - | - | - | - | - |
| Gross Profit | $688.4K | - | $270.5K | $1.02M | $346.7K | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $2.74M | - | $2.72M | $4.00M | $379.0K | - | - | - | - | - |
| Total Operating Expenses | $3.06M | - | $299.2K | - | - | - | - | - | - | - |
| D&A | $0 | - | - | - | $2.2K | - | - | - | - | - |
| Operating Income | ($2.37M) | - | ($4.53M) | ($3.77M) | ($10.10M) | - | ($375.0K) | ($576.5K) | ($256.7K) | - |
| Interest Expense | $204.9K | - | $319.7K | $615.4K | $231.5K | - | - | - | - | - |
| Income Tax | $0 | - | $0 | - | - | - | - | - | - | - |
| Net Income | ($2.13M) | - | ($3.12M) | ($5.29M) | ($10.25M) | - | ($375.0K) | ($703.7K) | $408.4K | - |
| EPS - Basic | ($0.47) | - | ($1.59) | $0.02 | ($0.02) | - | - | - | - | - |
| EPS - Diluted | ($0.47) | - | $0.11 | ($0.15) | ($0.02) | - | - | - | - | - |
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 | $2.03M | $5.26M | $3.65M | $1.01M | $2.27M | $38.7K | $45.1K | $14.9K | $1.0K | $607.9K |
| Accounts Receivable | $3.34M | $2.69M | $3.10M | $4.12M | $3.94M | $10.35M | - | - | - | $7.09M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.44M | $1.31M | $2.51M | $5.09M | $5.67M | $3.55M | - | - | - | $2.07M |
| Current Assets | $5.47M | $8.00M | $7.04M | $5.59M | $6.72M | $10.93M | $313.7K | $149.0K | $108.5K | $118.0K |
| Total Assets | $31.45M | $33.45M | $32.31M | $30.74M | $31.53M | $25.56M | $2.91M | $2.75M | $3.08M | $3.41M |
| Current Liabilities | $17.46M | $16.91M | $16.60M | $19.99M | $21.83M | $18.74M | - | - | - | $14.11M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $17.76M | $17.21M | $16.90M | $20.29M | $22.13M | $20.18M | $3.98M | $3.44M | $2.89M | $3.31M |
| Stockholders' Equity | $17.97M | $20.10M | $19.09M | $14.01M | $12.86M | $3.47M | ($3.74M) | ($3.37M) | ($2.78M) | ($3.20M) |
| Retained Earnings | ($29.01M) | ($26.88M) | ($21.77M) | ($18.65M) | ($13.46M) | ($3.20M) | ($3.86M) | ($3.49M) | ($2.78M) | ($3.20M) |
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 | ($2.89M) | - | - | - | ($2.75M) | - | - | - | ($107.6K) | - |
| Investing Cash Flow | ($129.0K) | - | - | - | $1.80M | - | - | - | $327.4K | - |
| Financing Cash Flow | ($207.7K) | - | - | - | $3.17M | - | - | - | ($227.4K) | - |
| CapEx | $129.0K | - | - | - | $105.0K | - | - | - | - | - |
| Free Cash Flow | ($3.02M) | - | - | - | ($2.85M) | - | - | - | - | - |
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 | 21.1% | - | 7.1% | 20.5% | 8.2% | - | - | - | - | - |
| Operating margin | -72.5% | - | -118.2% | -75.3% | -238.0% | - | - | - | - | - |
| EBITDA margin | -72.5% | - | - | - | -237.9% | - | - | - | - | - |
| Net margin | -65.1% | - | -81.5% | -105.8% | -241.5% | - | - | - | - | - |
| Free cash flow margin | -92.4% | - | - | - | -67.2% | - | - | - | - | - |
| FCF / Net income | 1.42 | - | - | - | 0.28 | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 83.9% | - | 71.0% | 80.0% | 8.9% | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -6.8% | - | -9.7% | -17.2% | -32.5% | - | -12.9% | -25.6% | 13.3% | - |
| Return on equity | -11.8% | - | -16.4% | -37.7% | -79.7% | - | 10.0% | 20.9% | -14.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.31 | 0.47 | 0.42 | 0.28 | 0.31 | 0.58 | - | - | - | 0.01 |
| Quick ratio | 0.31 | 0.47 | 0.42 | 0.28 | 0.31 | 0.58 | - | - | - | 0.01 |
| Cash ratio | 0.12 | 0.31 | 0.22 | 0.05 | 0.10 | 0.00 | - | - | - | 0.04 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -11.6x | - | -14.2x | -6.1x | -43.6x | - | - | - | - | - |
| Equity multiplier | 1.75 | 1.66 | 1.69 | 2.19 | 2.45 | 7.37 | -0.78 | -0.82 | -1.11 | -1.07 |
| Liabilities / Assets | 0.56 | 0.51 | 0.52 | 0.66 | 0.70 | 0.79 | 1.37 | 1.25 | 0.94 | 0.97 |
| Efficiency | ||||||||||
| Asset turnover | 0.10 | - | 0.12 | 0.16 | 0.13 | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 373d | - | 295d | 301d | 339d | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 204d | - | 257d | 467d | 531d | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -23.0% | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 98.5% | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 76.5% | - | -1108.3% | -553.3% | -3833.0% | - | -51.8% | -190.1% | 29.9% | - |
| Net income growth (YoY) | 79.2% | - | -732.9% | -651.8% | - | - | -47.9% | -111.6% | - | - |
| EPS growth (YoY) | -2250.0% | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -5.9% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 39.7% | 479.7% | - | - | - | - | -29.4% | -32.0% | -31.0% | -1149.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$15.13M totalAdvisory Consulting$15.01M · 99.2%
Managed Security Service Practice$112.7K · 0.7%
Software As AService$13.1K · 0.1%
Peer comparison
Same SIC group: Services-Computer Programming Services
Comparing Western Acquisition Ventures Corp. against the 5 most active filers in the same SIC group.