What is Volcon's operating income?

Volcon's total operating income in 2025 was -$153.48 million, based on the following breakdown: Total Gross Profit: -$362.62 thousand Total Operating Expenses: $153.12 million

Volcon (EMPD) Financials

$3.80 -0.07 (-1.81%)

Closing price 04:00 PM Eastern

Extended Trading

$3.80 +0.01 (+0.13%)

As of 07:53 PM Eastern

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Annual Income Statements for Volcon

This table shows Volcon's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-40	-34	-45	-46	-150
Consolidated Net Income / (Loss)	-40	-34	-45	-46	-150
Net Income / (Loss) Continuing Operations	-40	-34	-45	-44	-149
Total Pre-Tax Income	-40	-34	-45	-44	-154
Total Operating Income	-39	-32	-30	-26	-153
Total Gross Profit	-10	-8.87	-8.13	-14	-0.36
Total Revenue	0.45	4.55	3.26	3.98	0.97
Operating Revenue	0.45	4.55	3.26	3.98	0.97
Total Cost of Revenue	11	13	11	18	1.34
Operating Cost of Revenue	11	13	11	18	1.34
Total Operating Expenses	29	23	22	12	153
Selling, General & Admin Expense	16	9.05	6.39	7.57	29
Marketing Expense	2.87	5.69	7.41	2.23	1.46
Research & Development Expense	10	8.46	7.87	1.86	0.40
Other Operating Expenses / (Income)	-	-	-	0.00	123
Total Other Income / (Expense), net	-0.95	-2.17	-15	-18	-0.47
Interest Expense	0.09	2.26	29	2.29	2.25
Interest & Investment Income	-	-	-	0.00	0.29
Other Income / (Expense), net	-0.85	0.09	13	-16	1.49
Income Tax Expense	0.00	0.00	0.00	0.00	-5.38
Net Income / (Loss) Discontinued Operations	-	-	-	-1.36	-1.48
Basic Earnings per Share	($8.79)	($325.20)	($187,796.71)	($1,175.22)	($8.12)
Weighted Average Basic Shares Outstanding	4.57M	105.28K	240.00	38.73K	18.48M
Diluted Earnings per Share	($8.79)	($325.20)	($187,796.71)	($1,175.22)	($8.12)
Weighted Average Diluted Shares Outstanding	4.57M	105.28K	240.00	38.73K	18.48M
Weighted Average Basic & Diluted Shares Outstanding	4.57M	24.61M	18.75M	3.85M	30.25M

This table shows Volcon's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-11	-3.42	-26	-0.61	-14	-5.22	-2.46	-3.90	-35	-109	-85
Consolidated Net Income / (Loss)	-11	-3.42	-26	-0.61	-14	-5.22	-2.46	-3.90	-35	-109	-85
Net Income / (Loss) Continuing Operations	-11	-3.42	-26	-0.61	-14	-3.86	-2.08	-3.90	-35	-108	-85
Total Pre-Tax Income	-11	-3.42	-26	-0.61	-14	-3.86	-2.08	-3.90	-35	-113	-85
Total Operating Income	-9.45	-9.88	-4.24	-5.53	-12	-3.75	-2.12	-3.87	-34	-113	-83
Total Gross Profit	-3.06	-5.20	-0.59	-2.17	-9.22	-2.03	-0.04	-0.15	-0.09	-0.08	0.06
Total Revenue	0.49	1.08	1.03	0.94	1.08	0.93	0.46	0.70	0.20	-0.66	0.23
Operating Revenue	0.49	1.08	1.03	0.94	1.08	0.93	0.46	0.70	0.20	-0.66	0.23
Total Cost of Revenue	3.54	6.28	1.62	3.11	10	2.96	0.50	0.85	0.29	-0.59	0.16
Operating Cost of Revenue	3.54	6.28	1.62	3.11	10	2.96	0.50	0.85	0.29	-0.59	0.16
Total Operating Expenses	6.40	6.47	3.66	3.36	2.92	1.72	2.08	3.72	34	113	83
Selling, General & Admin Expense	1.54	1.38	2.08	2.01	1.92	1.56	1.55	2.88	19	4.76	4.57
Marketing Expense	1.87	1.37	0.76	0.54	0.47	0.45	0.30	0.62	0.70	-0.38	0.32
Research & Development Expense	2.98	-	0.81	0.81	0.53	-0.29	0.23	0.22	0.18	-0.39	0.12
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	-	14	-	78
Total Other Income / (Expense), net	-1.87	8.24	-22	4.92	-1.50	-0.11	0.05	-0.03	-0.07	-0.42	-2.09
Interest Expense	1.14	1.90	0.33	0.20	0.08	1.68	0.09	0.07	0.36	1.73	2.06
Interest & Investment Income	-	-	0.00	0.00	0.00	-	0.05	0.10	0.08	0.05	0.04
Other Income / (Expense), net	-0.74	10	-21	5.11	-1.42	1.58	0.08	-0.06	0.20	1.26	-0.08
Income Tax Expense	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-5.38	0.00
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-0.38	-	-	-	0.00
Basic Earnings per Share	($66,245.01)	($14,231.88)	($2,615.00)	($96.59)	($191.46)	($134.73)	($7.27)	($7.57)	($0.96)	($5.90)	($2.59)
Weighted Average Basic Shares Outstanding	171.00	240.00	9.96K	6.28K	71.23K	38.73K	338.24K	515.49K	36.13M	18.48M	33.02M
Diluted Earnings per Share	($66,245.01)	($14,231.88)	($2,615.00)	($96.59)	($191.46)	($134.73)	($7.27)	($7.57)	($0.96)	($5.90)	($2.59)
Weighted Average Diluted Shares Outstanding	171.00	240.00	9.96K	6.28K	71.23K	38.73K	338.24K	515.49K	36.13M	18.48M	33.02M
Weighted Average Basic & Diluted Shares Outstanding	6.16M	18.75M	7.97M	4.66M	560.90K	3.85M	4.36M	47.44M	36.42M	30.25M	28.11M

This table details how cash moves in and out of Volcon's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	5.04	5.97	-3.34	-5.89	6.77
Net Cash From Operating Activities	-24	-34	-30	-16	-18
Net Cash From Continuing Operating Activities	-24	-34	-30	-16	-18
Net Income / (Loss) Continuing Operations	-40	-34	-45	-46	-150
Consolidated Net Income / (Loss)	-40	-34	-45	-46	-150
Depreciation Expense	0.22	0.76	0.25	0.36	0.30
Amortization Expense	0.37	0.43	0.37	0.40	0.42
Non-Cash Adjustments To Reconcile Net Income	21	7.46	21	29	141
Changes in Operating Assets and Liabilities, net	-5.74	-8.07	-6.05	-0.20	-9.48
Net Cash From Investing Activities	-0.84	-0.80	-0.86	-0.23	-454
Net Cash From Continuing Investing Activities	-0.84	-0.80	-0.86	-0.23	-454
Purchase of Property, Plant & Equipment	-0.82	-0.80	-0.95	-0.31	-0.25
Sale of Property, Plant & Equipment	-	-	0.09	0.02	0.13
Other Investing Activities, net	-	0.00	0.00	0.06	-454
Net Cash From Financing Activities	30	40	27	10	478
Net Cash From Continuing Financing Activities	30	40	27	10	478
Repayment of Debt	-0.91	-0.02	-0.08	-2.99	15
Repurchase of Preferred Equity	-	-	-	0.00	-0.00
Repurchase of Common Equity	-	-	-	0.00	-96
Issuance of Debt	0.00	22	6.95	0.00	85
Issuance of Common Equity	17	18	19	13	473
Other Financing Activities, net	2.21	0.04	1.05	0.13	1.78
Cash Interest Paid	0.02	0.01	0.02	0.09	2.14
Cash Income Taxes Paid	0.00	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Volcon's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-5.54	5.22	-4.52	-1.52	3.76	-3.61	15	-5.77	7.03	-9.86	-3.26
Net Cash From Operating Activities	-6.22	-13	-4.54	-3.66	-4.07	-3.77	-3.57	-3.66	-7.62	-2.99	-3.50
Net Cash From Continuing Operating Activities	-6.22	-13	-4.54	-3.66	-4.07	-3.77	-3.57	-3.66	-7.62	-2.99	-3.50
Net Income / (Loss) Continuing Operations	-11	-3.42	-26	-0.61	-14	-5.22	-2.46	-3.90	-35	-109	-85
Consolidated Net Income / (Loss)	-11	-3.42	-26	-0.61	-14	-5.22	-2.46	-3.90	-35	-109	-85
Depreciation Expense	0.07	0.08	0.10	0.10	0.07	0.09	0.04	0.12	0.11	0.03	0.01
Amortization Expense	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.11	0.11	0.10	0.17
Non-Cash Adjustments To Reconcile Net Income	4.08	-4.92	22	-4.15	11	0.39	0.02	1.20	28	112	80
Changes in Operating Assets and Liabilities, net	0.87	-4.60	-0.65	0.90	-1.31	0.87	-1.27	-1.18	-1.41	-5.62	1.55
Net Cash From Investing Activities	-0.43	-0.13	-0.07	-0.12	-0.02	-0.03	-0.20	-2.00	-452	0.08	75
Net Cash From Continuing Investing Activities	-0.43	-0.13	-0.07	-0.12	-0.02	-0.03	-0.20	-2.00	-452	0.08	75
Purchase of Property, Plant & Equipment	-0.43	-0.13	-0.13	-0.12	-0.02	-0.04	-0.20	-0.00	0.00	-0.05	-0.02
Other Investing Activities, net	-	-	-	-	-	0.00	0.00	-	-452	0.05	75
Net Cash From Financing Activities	1.10	18	0.09	2.25	7.85	0.18	19	-0.11	466	-6.94	-74
Net Cash From Continuing Financing Activities	1.10	18	0.09	2.25	7.85	0.18	19	-0.11	466	-6.94	-74
Repayment of Debt	-0.00	-0.00	-0.04	-0.00	-2.94	-0.00	-0.00	-0.00	-35	50	-60
Repurchase of Common Equity	-	-	0.00	-	-	-	-0.40	-0.11	-39	-57	-44
Issuance of Debt	0.00	3.04	-	-	-	-	0.00	-	-	-	5.00
Issuance of Common Equity	0.57	15	0.00	2.26	11	0.18	20	-	454	0.00	25
Cash Interest Paid	0.00	0.01	0.01	0.01	0.03	0.03	0.09	0.07	0.29	1.68	2.01
Cash Income Taxes Paid	-	-	0.00	-	-	-	0.00	-	-	-	0.00

This table presents Volcon's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1.85	15	23	22	6.23	372
Total Current Assets	0.64	11	20	20	5.07	14
Cash & Equivalents	0.54	5.57	11	7.98	2.19	8.96
Restricted Cash	-	0.00	0.55	0.21	0.11	0.11
Short-Term Investments	-	-	-	-	0.00	2.05
Accounts Receivable	0.00	0.03	0.86	0.20	0.09	0.31
Inventories, net	0.00	4.19	6.07	9.23	1.65	0.35
Prepaid Expenses	0.10	1.09	1.85	1.90	1.03	2.48
Other Current Assets	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	0.31	0.81	0.60	1.26	0.00	0.00
Total Noncurrent Assets	0.91	2.93	1.80	1.34	1.16	358
Intangible Assets	0.02	0.02	0.01	0.00	0.02	0.27
Other Noncurrent Operating Assets	0.89	2.92	1.79	1.34	1.14	358
Total Liabilities & Shareholders' Equity	1.85	15	23	22	6.23	372
Total Liabilities	3.00	8.32	22	42	6.19	103
Total Current Liabilities	2.32	6.48	21	41	4.64	53
Short-Term Debt	0.01	0.02	0.02	30	0.01	50
Accounts Payable	0.08	1.45	1.04	0.83	0.39	0.75
Accrued Expenses	0.03	0.77	2.07	3.13	1.38	0.56
Other Current Liabilities	2.14	1.96	18	6.37	2.65	1.59
Total Noncurrent Liabilities	0.67	1.84	1.19	0.84	1.55	50
Long-Term Debt	0.06	0.07	0.05	0.07	0.03	50
Other Noncurrent Operating Liabilities	0.61	1.77	1.14	0.78	1.52	0.47
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-1.14	6.30	0.64	-20	0.04	269
Total Preferred & Common Equity	-1.14	6.30	0.64	-20	0.04	269
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-1.14	6.30	0.64	-20	0.04	269
Common Stock	0.23	48	76	101	166	682
Retained Earnings	-1.37	-41	-76	-121	-166	-316
Treasury Stock	-	-	-	-	0.00	-96

This table presents Volcon's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	16	17	16	10	22	18	492	218
Total Current Assets	13	15	14	8.68	20	17	25	13
Cash & Equivalents	2.43	3.57	2.05	5.81	18	12	19	5.70
Restricted Cash	0.55	0.11	0.11	0.11	0.11	0.11	0.11	0.11
Short-Term Investments	-	-	-	-	-	2.01	2.03	2.07
Accounts Receivable	0.21	0.28	0.30	0.35	0.10	0.20	1.58	0.06
Inventories, net	7.46	9.70	11	1.95	1.19	1.48	0.78	0.40
Prepaid Expenses	2.81	1.41	0.96	0.47	1.48	0.97	1.89	2.06
Other Current Assets	-	-	-	-	-	-	-	2.44
Plant, Property, & Equipment, net	1.26	1.07	0.63	0.29	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1.43	1.24	1.14	1.04	1.28	1.39	467	205
Intangible Assets	0.00	-	-	-	0.44	0.58	0.45	0.28
Other Noncurrent Operating Assets	1.43	1.24	1.14	1.04	0.83	0.80	467	205
Total Liabilities & Shareholders' Equity	16	17	16	10	22	18	492	218
Total Liabilities	37	14	7.89	4.95	4.99	4.12	55	52
Total Current Liabilities	36	13	6.62	4.19	4.02	3.63	54	6.31
Short-Term Debt	0.01	0.01	1.42	0.01	0.01	0.01	50	0.00
Accounts Payable	3.47	0.32	0.96	0.26	0.22	0.19	0.96	3.82
Accrued Expenses	1.81	3.41	1.74	1.52	1.24	0.96	0.95	1.39
Other Current Liabilities	31	9.00	2.33	2.30	2.51	2.45	2.33	1.10
Total Noncurrent Liabilities	0.92	0.70	1.28	0.76	0.97	0.48	0.51	45
Long-Term Debt	0.07	0.03	0.03	0.03	0.03	0.02	0.02	45
Other Noncurrent Operating Liabilities	0.85	0.67	1.24	0.73	0.94	0.46	0.49	0.45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-21	3.79	7.90	5.06	17	14	438	166
Total Preferred & Common Equity	-21	3.79	7.90	5.06	17	14	438	166
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-21	3.79	7.90	5.06	17	14	438	166
Common Stock	96	151	155	166	186	187	684	708
Retained Earnings	-117	-147	-147	-161	-169	-173	-207	-402
Treasury Stock	-	-	-	-	-0.40	-0.51	-39	-141

This table displays calculated financial ratios and metrics derived from Volcon's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	24,376,260.00	13,638,556.00	560,902.00	36,423,863.00
DEI Adjusted Shares Outstanding	0.00	17.00	47.00	70,113.00	36,423,863.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-2,013,847.35	-958,961.94	-649.10	-4.12
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	913.03%	-28.28%	22.16%	-75.52%
EBITDA Growth	0.00%	21.97%	48.86%	-161.12%	-268.03%
EBIT Growth	0.00%	20.13%	48.84%	-155.88%	-263.08%
NOPAT Growth	0.00%	18.16%	7.08%	13.88%	-498.18%
Net Income Growth	0.00%	14.68%	-31.65%	-0.97%	-229.71%
EPS Growth	0.00%	14.68%	-31.65%	-0.97%	99.31%
Operating Cash Flow Growth	0.00%	-39.27%	12.12%	45.76%	-11.29%
Free Cash Flow Firm Growth	0.00%	0.00%	-215.95%	60.91%	-3,408.30%
Invested Capital Growth	0.00%	-1,424.40%	122.24%	-192.22%	16,208.76%
Revenue Q/Q Growth	0.00%	9.06%	11.34%	-3.64%	-62.85%
EBITDA Q/Q Growth	0.00%	21.98%	28.63%	-6.21%	-248.70%
EBIT Q/Q Growth	0.00%	21.19%	28.18%	-6.15%	-244.15%
NOPAT Q/Q Growth	0.00%	19.42%	-14.19%	19.29%	-233.90%
Net Income Q/Q Growth	0.00%	16.94%	8.86%	-4.12%	-225.26%
EPS Q/Q Growth	0.00%	16.94%	8.86%	-4.12%	-534.38%
Operating Cash Flow Q/Q Growth	0.00%	5.73%	-15.38%	35.95%	4.15%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-494.53%	70.55%	6.40%
Invested Capital Q/Q Growth	0.00%	-452.10%	110.11%	-171.98%	-23.28%
Profitability Metrics	-	-	-	-	-
Gross Margin	-2,241.13%	-195.00%	-249.31%	-351.57%	-37.19%
EBITDA Margin	-8,789.34%	-677.03%	-482.71%	-1,031.86%	-15,515.73%
Operating Margin	-8,729.54%	-705.21%	-913.61%	-644.11%	-15,741.95%
EBIT Margin	-8,919.83%	-703.28%	-501.69%	-1,050.91%	-15,589.46%
Profit (Net Income) Margin	-8,940.15%	-752.97%	-1,382.13%	-1,142.48%	-15,390.36%
Tax Burden Percent	100.00%	100.00%	100.00%	103.07%	97.47%
Interest Burden Percent	100.23%	107.07%	275.50%	105.47%	101.29%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-3,352.65%	0.00%	0.00%	-19,154.74%	-60.40%
ROIC Less NNEP Spread (ROIC-NNEP)	-3,121.18%	0.00%	0.00%	-19,433.34%	-158.97%
Return on Net Nonoperating Assets (RNNOA)	2,716.17%	0.00%	0.00%	19,619.36%	-51.05%
Return on Equity (ROE)	-636.48%	-986.72%	474.53%	464.62%	-111.46%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-1,415.10%	0.00%	-130.63%
Operating Return on Assets (OROA)	-485.90%	-171.22%	-72.95%	-295.30%	-80.28%
Return on Assets (ROA)	-487.01%	-183.32%	-200.98%	-321.03%	-79.25%
Return on Common Equity (ROCE)	-636.48%	-986.72%	474.53%	464.62%	-111.46%
Return on Equity Simple (ROE_SIMPLE)	-636.48%	0.00%	229.59%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-27	-22	-21	-18	-107
NOPAT Margin	-6,110.68%	-493.65%	-639.53%	-450.87%	-11,019.37%
Net Nonoperating Expense Percent (NNEP)	-231.48%	-139.08%	458.14%	278.59%	98.56%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-196.69%	-23,485.38%	-29.11%
Cost of Revenue to Revenue	2,341.13%	295.00%	349.31%	451.57%	137.19%
SG&A Expenses to Revenue	3,516.65%	198.98%	195.89%	189.98%	2,933.61%
R&D to Revenue	2,331.72%	185.99%	241.31%	46.63%	40.88%
Operating Expenses to Revenue	6,488.41%	510.21%	664.30%	292.54%	15,704.76%
Earnings before Interest and Taxes (EBIT)	-40	-32	-16	-42	-152
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-39	-31	-16	-41	-151
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	38.77	0.00	60.13	0.62
Price to Tangible Book Value (P/TBV)	0.00	39.13	0.00	97.80	0.62
Price to Revenue (P/Rev)	0.00	5.42	0.21	0.62	170.54
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	9.43	0.00	0.71
Enterprise Value to Revenue (EV/Rev)	0.00	2.89	6.97	0.05	261.56
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.01	0.11	-1.54	0.88	0.37
Long-Term Debt to Equity	0.01	0.08	0.00	0.70	0.19
Financial Leverage	-0.87	-2.44	-0.56	-1.01	0.32
Leverage Ratio	3.19	5.38	-2.36	-1.45	1.41
Compound Leverage Factor	3.20	5.76	-6.50	-1.53	1.42
Debt to Total Capital	1.35%	9.77%	285.15%	46.70%	27.06%
Short-Term Debt to Total Capital	0.27%	2.65%	284.49%	9.39%	13.52%
Long-Term Debt to Total Capital	1.08%	7.12%	0.65%	37.31%	13.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	98.65%	90.23%	-185.15%	53.30%	72.94%
Debt to EBITDA	0.00	0.00	-1.92	0.00	-0.66
Net Debt to EBITDA	0.14	0.37	-1.40	0.06	-0.59
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.33
Debt to NOPAT	0.00	0.00	-1.45	0.00	-0.93
Net Debt to NOPAT	0.20	0.51	-1.06	0.13	-0.83
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-0.47
Altman Z-Score	0.00	-8.47	-11.09	-58.62	-1.69
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	1.68	0.97	0.48	1.09	0.27
Quick Ratio	0.86	0.57	0.20	0.49	0.21
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-11	-34	-13	-468
Operating Cash Flow to CapEx	-2,928.89%	-4,209.00%	-3,435.27%	-5,561.39%	-15,281.86%
Free Cash Flow to Firm to Interest Expense	0.00	-4.78	-1.19	-5.82	-207.47
Operating Cash Flow to Interest Expense	-264.81	-14.89	-1.03	-7.00	-7.92
Operating Cash Flow Less CapEx to Interest Expense	-273.85	-15.25	-1.06	-7.13	-7.97
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.05	0.24	0.15	0.28	0.01
Accounts Receivable Turnover	0.00	10.21	6.11	27.33	4.87
Inventory Turnover	0.00	2.61	1.49	3.31	1.34
Fixed Asset Turnover	0.81	6.44	3.51	0.00	0.00
Accounts Payable Turnover	13.69	10.77	12.20	29.57	2.37
Days Sales Outstanding (DSO)	0.00	35.75	59.78	13.36	74.94
Days Inventory Outstanding (DIO)	0.00	139.66	245.21	110.37	271.90
Days Payable Outstanding (DPO)	26.67	33.89	29.92	12.34	154.28
Cash Conversion Cycle (CCC)	-26.67	141.51	275.07	111.38	192.55
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.82	-11	2.41	-2.22	358
Invested Capital Turnover	0.55	-0.91	-0.77	42.48	0.01
Increase / (Decrease) in Invested Capital	0.00	-12	13	-4.63	360
Enterprise Value (EV)	0.00	13	23	0.19	255
Market Capitalization	0.00	25	0.68	2.45	166
Book Value per Share	$1.38	$0.03	($2.88)	$0.07	$7.39
Tangible Book Value per Share	$1.38	$0.03	($2.88)	$0.04	$7.38
Total Capital	6.39	0.70	11	0.08	369
Total Debt	0.09	0.07	30	0.04	100
Total Long-Term Debt	0.07	0.05	0.07	0.03	50
Net Debt	-5.49	-11	22	-2.26	89
Capital Expenditures (CapEx)	0.82	0.80	0.86	0.29	0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.16	-12	0.59	-1.86	0.24
Debt-free Net Working Capital (DFNWC)	4.41	-0.55	8.78	0.44	11
Net Working Capital (NWC)	4.40	-0.57	-21	0.43	-39
Net Nonoperating Expense (NNE)	13	12	24	28	43
Net Nonoperating Obligations (NNO)	-5.49	-11	22	-2.26	89
Total Depreciation and Amortization (D&A)	0.59	1.19	0.62	0.76	0.72
Debt-free, Cash-free Net Working Capital to Revenue	-257.94%	-265.90%	18.11%	-46.74%	25.02%
Debt-free Net Working Capital to Revenue	983.59%	-12.14%	269.37%	10.96%	1,165.38%
Net Working Capital to Revenue	979.76%	-12.55%	-655.65%	10.78%	-3,951.77%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	($197,775.00)	($32,625.00)	($187,496.00)	($1,175.20)	($8.12)
Adjusted Weighted Average Basic Shares Outstanding	1.07K	1.05K	240.00	38.73K	18.48M
Adjusted Diluted Earnings per Share	($197,775.00)	($32,625.00)	($187,496.00)	($1,175.20)	($8.12)
Adjusted Weighted Average Diluted Shares Outstanding	1.07K	1.05K	240.00	38.73K	18.48M
Adjusted Basic & Diluted Earnings per Share	($197,775.00)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	203.00	1.09K	23.44K	481.35K	30.25M
Normalized Net Operating Profit after Tax (NOPAT)	-27	-22	-21	-18	-107
Normalized NOPAT Margin	-6,110.68%	-493.65%	-639.53%	-450.87%	-11,019.37%
Pre Tax Income Margin	-8,940.15%	-752.97%	-1,382.13%	-1,108.43%	-15,790.61%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-438.79	-14.15	-0.57	-18.27	-67.44
NOPAT to Interest Expense	-300.60	-9.93	-0.73	-7.84	-47.67
EBIT Less CapEx to Interest Expense	-447.83	-14.51	-0.60	-18.40	-67.49
NOPAT Less CapEx to Interest Expense	-309.64	-10.29	-0.76	-7.96	-47.72
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-64.17%

This table displays calculated financial ratios and metrics derived from Volcon's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	30,615,119.00	13,638,556.00	18,748,955.00	25,098,955.00	4,661,782.00	560,902.00	3,850,824.00	4,355,874.00	47,444,907.00	36,423,863.00	30,247,668.00
DEI Adjusted Shares Outstanding	21.00	47.00	2,930.00	3,922.00	72,840.00	70,113.00	481,353.00	544,484.00	47,444,907.00	36,423,863.00	30,247,668.00
DEI Earnings Per Adjusted Shares Outstanding	-539,423.62	-72,673.45	-8,890.12	-154.62	-187.24	-74.41	-5.11	-7.16	-0.73	-3.00	-2.82
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	100.83%	44.20%	-11.70%	81.18%	120.72%	-13.90%	-55.27%	-25.29%	-81.57%	-170.97%	-51.18%
EBITDA Growth	-44.79%	107.21%	-256.89%	-121.62%	-33.39%	-565.63%	92.57%	-1,584.83%	-154.51%	-5,526.04%	-4,289.73%
EBIT Growth	-39.99%	104.12%	-252.61%	-147.94%	-32.99%	-953.93%	92.07%	-841.38%	-152.88%	-5,028.08%	-3,987.72%
NOPAT Growth	-29.23%	-59.90%	23.18%	-12.12%	-28.37%	62.06%	49.99%	29.98%	-184.16%	-2,903.59%	-3,825.31%
Net Income Growth	-43.41%	56.20%	-256.85%	97.37%	-20.40%	-52.75%	90.55%	-543.10%	-153.37%	-1,991.80%	-3,371.08%
EPS Growth	-43.41%	56.20%	-256.85%	97.37%	-20.40%	-52.75%	90.55%	92.16%	99.50%	95.62%	64.37%
Operating Cash Flow Growth	5.76%	-44.65%	29.88%	10.85%	34.52%	70.51%	21.35%	-0.06%	-87.15%	20.50%	2.05%
Free Cash Flow Firm Growth	806.57%	-375.22%	-215.94%	-233.02%	-255.29%	109.95%	96.75%	110.44%	-1,460.08%	-21,973.27%	-60,190.91%
Invested Capital Growth	-874.43%	122.24%	101.48%	122.20%	96.57%	-192.22%	-692.32%	-100.74%	57,205.92%	16,208.76%	22,706.60%
Revenue Q/Q Growth	-6.14%	122.35%	-4.64%	-8.97%	14.35%	-13.26%	-50.46%	-4.50%	-71.79%	-433.99%	134.08%
EBITDA Q/Q Growth	-1,085.10%	104.23%	-6,111.56%	99.14%	-5,978.32%	85.23%	4.13%	-62.74%	-818.19%	-226.55%	25.20%
EBIT Q/Q Growth	-1,268.89%	102.49%	-10,213.48%	98.37%	-3,142.78%	83.98%	6.06%	-62.34%	-771.09%	-224.86%	25.12%
NOPAT Q/Q Growth	-91.69%	-4.55%	57.05%	-30.27%	-119.46%	69.10%	43.40%	-54.47%	-790.59%	-226.61%	26.02%
Net Income Q/Q Growth	50.81%	69.85%	-662.61%	97.67%	-2,149.02%	61.75%	52.84%	-58.50%	-786.06%	-215.83%	21.75%
EPS Q/Q Growth	50.81%	69.85%	-662.61%	97.67%	-2,149.02%	61.75%	52.84%	-731.87%	87.32%	-514.58%	56.10%
Operating Cash Flow Q/Q Growth	-51.67%	-105.23%	64.43%	19.48%	-11.41%	7.57%	5.14%	-2.44%	-108.37%	60.74%	-16.87%
Free Cash Flow Firm Q/Q Growth	-37.93%	-199.37%	33.63%	-224.92%	27.54%	106.37%	-121.68%	744.62%	-10,930.27%	10.68%	40.23%
Invested Capital Q/Q Growth	26.48%	110.11%	-93.70%	4,642.34%	-111.35%	-171.98%	59.55%	94.10%	880,633.85%	-23.28%	-43.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-626.76%	-479.81%	-56.89%	-230.91%	-856.88%	-217.00%	-9.14%	-21.13%	-47.05%	0.00%	27.95%
EBITDA Margin	-2,058.23%	39.17%	-2,469.53%	-23.40%	-1,243.90%	-211.85%	-409.96%	-527.72%	-17,176.12%	0.00%	-36,863.21%
Operating Margin	-1,939.38%	-911.88%	-410.66%	-587.68%	-1,127.89%	-401.80%	-459.07%	-550.80%	-17,388.61%	0.00%	-36,912.09%
EBIT Margin	-2,091.13%	23.46%	-2,488.33%	-44.43%	-1,259.93%	-232.70%	-441.23%	-559.80%	-17,285.83%	0.00%	-36,946.08%
Profit (Net Income) Margin	-2,324.00%	-315.16%	-2,520.25%	-64.45%	-1,267.68%	-559.09%	-532.18%	-554.80%	-17,425.68%	0.00%	-37,839.07%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	135.13%	118.50%	99.87%	100.00%	96.55%	100.00%
Interest Burden Percent	111.14%	-1,343.18%	101.28%	145.07%	100.61%	177.81%	101.78%	99.24%	100.81%	101.51%	102.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-11,948.81%	0.00%	-378.05%	-137.16%	0.00%	-188.63%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	-11,975.03%	0.00%	-361.73%	-227.55%	0.00%	-467.07%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	12,089.66%	0.00%	242.76%	-11.85%	0.00%	-49.70%
Return on Equity (ROE)	753.60%	474.53%	7,111.52%	514.62%	550.42%	140.85%	-213.60%	-135.29%	-149.01%	0.00%	-238.33%
Cash Return on Invested Capital (CROIC)	0.00%	-1,415.10%	-20,014.59%	-833.63%	0.00%	0.00%	0.00%	0.00%	-107.07%	-130.63%	-181.29%
Operating Return on Assets (OROA)	-275.18%	3.41%	-449.07%	-8.55%	-398.34%	-65.39%	-77.00%	-116.24%	-180.63%	0.00%	-227.75%
Return on Assets (ROA)	-305.83%	-45.83%	-454.83%	-12.41%	-400.79%	-157.10%	-92.86%	-115.21%	-182.09%	0.00%	-233.26%
Return on Common Equity (ROCE)	753.60%	474.53%	7,111.52%	514.62%	550.42%	140.85%	-213.60%	-135.29%	-149.01%	0.00%	-238.33%
Return on Equity Simple (ROE_SIMPLE)	236.16%	0.00%	-1,685.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-6.62	-6.92	-2.97	-3.87	-8.49	-2.62	-1.49	-2.71	-24	-79	-58
NOPAT Margin	-1,357.56%	-638.31%	-287.46%	-411.38%	-789.53%	-281.26%	-321.35%	-385.56%	-12,172.03%	0.00%	-25,838.46%
Net Nonoperating Expense Percent (NNEP)	-123.52%	-66.26%	-555.26%	71.51%	-117.39%	26.22%	-9.16%	-16.32%	90.39%	70.08%	278.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-65.25%	-77.62%	-41.38%	-166.70%	-3,432.06%	-8.86%	-19.57%	-4.95%	-21.36%	-27.63%
Cost of Revenue to Revenue	726.76%	579.81%	156.89%	330.91%	956.88%	317.00%	109.14%	121.13%	147.05%	0.00%	72.05%
SG&A Expenses to Revenue	316.83%	127.78%	201.33%	213.37%	178.16%	167.47%	335.10%	409.62%	9,783.49%	0.00%	2,025.58%
R&D to Revenue	612.03%	0.00%	78.85%	85.62%	49.11%	-31.23%	50.75%	31.46%	91.61%	0.00%	55.36%
Operating Expenses to Revenue	1,312.61%	596.89%	353.76%	356.77%	271.02%	184.80%	449.93%	529.67%	17,341.56%	0.00%	36,940.04%
Earnings before Interest and Taxes (EBIT)	-10	0.25	-26	-0.42	-14	-2.17	-2.04	-3.94	-34	-111	-83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-10	0.42	-26	-0.22	-13	-1.98	-1.90	-3.71	-34	-111	-83
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	3.37	0.14	0.96	60.13	0.21	0.27	0.82	0.62	0.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	3.37	0.14	0.96	97.80	0.21	0.29	0.82	0.62	0.77
Price to Revenue (P/Rev)	5.28	0.21	4.08	0.30	1.17	0.62	1.01	1.08	135.96	170.54	173.29
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	9.43	60.06	0.05	0.00	0.00	0.00	0.00	0.83	0.71	0.81
Enterprise Value to Revenue (EV/Rev)	4.29	6.97	2.92	0.11	0.00	0.05	0.00	0.00	146.98	261.56	223.53
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	1.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	-1.54	0.01	0.18	0.01	0.88	0.00	0.00	0.11	0.37	0.27
Long-Term Debt to Equity	0.00	0.00	0.01	0.00	0.01	0.70	0.00	0.00	0.00	0.19	0.27
Financial Leverage	0.58	-0.56	4.63	0.57	0.55	-1.01	-1.04	-0.67	0.05	0.32	0.11
Leverage Ratio	-3.39	-2.36	-19.29	-2.29	-1.65	-1.45	1.91	1.55	1.13	1.41	1.31
Compound Leverage Factor	-3.77	31.71	-19.54	-3.32	-1.66	-2.57	1.94	1.54	1.14	1.43	1.34
Debt to Total Capital	-0.42%	285.15%	1.06%	15.56%	0.73%	46.70%	0.20%	0.23%	10.23%	27.06%	21.31%
Short-Term Debt to Total Capital	-0.07%	284.49%	0.17%	15.22%	0.14%	9.39%	0.04%	0.05%	10.23%	13.52%	0.00%
Long-Term Debt to Total Capital	-0.35%	0.65%	0.89%	0.34%	0.60%	37.31%	0.16%	0.18%	0.00%	13.54%	21.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.42%	-185.15%	98.94%	84.44%	99.27%	53.30%	99.80%	99.77%	89.77%	72.94%	78.69%
Debt to EBITDA	0.00	-1.92	0.00	-0.04	0.00	0.00	0.00	0.00	-1.15	-0.66	-0.19
Net Debt to EBITDA	0.13	-1.40	0.11	0.02	0.15	0.06	1.01	0.61	-0.67	-0.59	-0.16
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.33	-0.19
Debt to NOPAT	0.00	-1.45	0.00	-0.07	0.00	0.00	0.00	0.00	-1.55	-0.93	-0.27
Net Debt to NOPAT	0.16	-1.06	0.18	0.03	0.26	0.13	1.07	0.84	-0.90	-0.83	-0.23
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.47	-0.27
Altman Z-Score	-13.52	-8.61	-15.82	-12.29	-25.47	-37.59	-9.71	-12.59	3.04	-1.33	-2.32
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.37	0.48	1.17	2.12	2.07	1.09	5.09	4.56	0.47	0.27	2.03
Quick Ratio	0.07	0.20	0.30	0.36	1.47	0.49	4.39	3.85	0.41	0.21	1.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	20	-20	-13	-43	-32	2.01	-0.44	4.54	-492	-439	-262
Operating Cash Flow to CapEx	-1,463.49%	-9,722.70%	-6,856.81%	-2,097.21%	-25,294.30%	-11,889.96%	-1,769.65%	-118,568.89%	0.00%	0.00%	-14,734.20%
Free Cash Flow to Firm to Interest Expense	17.87	-10.63	-40.55	-220.71	-378.07	1.19	-4.88	60.95	-1,359.81	-253.95	-127.50
Operating Cash Flow to Interest Expense	-5.48	-6.73	-13.76	-18.56	-48.89	-2.24	-40.05	-49.14	-21.09	-1.73	-1.70
Operating Cash Flow Less CapEx to Interest Expense	-5.86	-6.80	-13.96	-19.45	-49.08	-2.26	-42.31	-49.18	-20.94	-1.71	-1.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.15	0.18	0.19	0.32	0.28	0.17	0.21	0.01	0.01	0.01
Accounts Receivable Turnover	3.30	6.11	6.28	13.24	14.94	27.33	17.53	13.96	2.72	4.87	8.80
Inventory Turnover	1.34	1.49	1.38	1.66	4.53	3.31	3.10	2.49	3.71	1.34	1.25
Fixed Asset Turnover	3.13	3.51	3.17	4.64	5.34	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	3.53	12.20	26.71	18.00	11.44	29.57	61.79	26.12	8.32	2.37	0.49
Days Sales Outstanding (DSO)	110.54	59.78	58.14	27.56	24.43	13.36	20.82	26.15	134.00	74.94	41.46
Days Inventory Outstanding (DIO)	272.30	245.21	263.71	220.22	80.55	110.37	117.82	146.30	98.35	271.90	291.41
Days Payable Outstanding (DPO)	103.32	29.92	13.66	20.28	31.91	12.34	5.91	13.98	43.90	154.28	741.64
Cash Conversion Cycle (CCC)	279.52	275.07	308.18	227.51	73.07	111.38	132.74	158.47	188.45	192.55	-408.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-24	2.41	0.15	7.20	-0.82	-2.22	-0.90	-0.05	467	358	203
Invested Capital Turnover	-0.28	-0.77	-0.62	-0.28	-0.34	42.48	-9.14	0.98	0.01	0.01	0.01
Increase / (Decrease) in Invested Capital	-27	13	10	40	23	-4.63	-1.05	-7.25	467	360	204
Enterprise Value (EV)	13	23	9.11	0.37	-1.03	0.19	-14	-10	386	255	165
Market Capitalization	15	0.68	13	1.07	4.85	2.45	3.44	3.79	357	166	128
Book Value per Share	($0.68)	($2.88)	$0.20	$0.31	$1.09	$0.07	$29.84	$3.17	$9.22	$7.39	$5.49
Tangible Book Value per Share	($0.68)	($2.88)	$0.20	$0.31	$1.09	$0.04	$29.06	$3.04	$9.21	$7.38	$5.48
Total Capital	-21	11	3.83	9.35	5.10	0.08	17	14	488	369	211
Total Debt	0.09	30	0.04	1.46	0.04	0.04	0.03	0.03	50	100	45
Total Long-Term Debt	0.07	0.07	0.03	0.03	0.03	0.03	0.03	0.02	0.02	50	45
Net Debt	-2.89	22	-3.64	-0.70	-5.88	-2.26	-18	-14	29	89	37
Capital Expenditures (CapEx)	0.43	0.13	0.07	0.17	0.02	0.03	0.20	0.00	-0.06	-0.03	0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-26	0.59	-1.49	6.67	-1.41	-1.86	-1.23	-0.98	0.00	0.24	-1.35
Debt-free Net Working Capital (DFNWC)	-23	8.78	2.18	8.83	4.50	0.44	16	13	21	11	6.53
Net Working Capital (NWC)	-23	-21	2.18	7.41	4.49	0.43	16	13	-29	-39	6.53
Net Nonoperating Expense (NNE)	4.71	-3.50	23	-3.26	5.14	2.59	0.97	1.19	10	30	27
Net Nonoperating Obligations (NNO)	-2.89	22	-3.64	-0.70	-5.88	-2.26	-18	-14	29	89	37
Total Depreciation and Amortization (D&A)	0.16	0.17	0.19	0.20	0.17	0.19	0.14	0.23	0.22	0.13	0.19
Debt-free, Cash-free Net Working Capital to Revenue	-876.81%	18.11%	-47.80%	188.21%	-34.17%	-46.74%	-36.17%	-27.98%	0.06%	25.02%	-183.04%
Debt-free Net Working Capital to Revenue	-775.16%	269.37%	69.87%	249.05%	108.85%	10.96%	481.73%	369.11%	798.50%	1,165.38%	883.94%
Net Working Capital to Revenue	-775.67%	-655.65%	69.66%	208.91%	108.68%	10.78%	481.52%	368.89%	-1,101.42%	-3,951.77%	883.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($512,347,680.00)	($2,616.00)	($96.64)	($191.44)	($1,077.84)	($7.28)	($7.57)	($0.96)	($5.90)	($2.59)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	9.96K	6.28K	71.23K	4.84K	338.24K	515.49K	36.13M	18.48M	33.02M
Adjusted Diluted Earnings per Share	$0.00	($512,347,680.00)	($2,616.00)	($96.64)	($191.44)	($1,077.84)	($7.28)	($7.57)	($0.96)	($5.90)	($2.59)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	31.37K	6.28K	71.23K	4.84K	338.24K	515.49K	36.13M	18.48M	33.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	($512,347,680.00)	$0.00	$0.00	$0.00	($1,077.84)	$0.00	$0.00	$0.00	($5.90)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	521.00	9.96K	72.84K	70.11K	481.35K	544.48K	47.44M	36.42M	30.25M	28.11M
Normalized Net Operating Profit after Tax (NOPAT)	-6.62	-6.92	-2.97	-3.87	-8.49	-2.62	-1.49	-2.71	-24	-79	-58
Normalized NOPAT Margin	-1,357.56%	-638.31%	-287.46%	-411.38%	-789.53%	-281.26%	-321.35%	-385.56%	-12,172.03%	0.00%	-25,838.46%
Pre Tax Income Margin	-2,324.00%	-315.16%	-2,520.25%	-64.45%	-1,267.68%	-413.75%	-449.11%	-555.53%	-17,425.68%	0.00%	-37,839.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.98	0.13	-77.94	-2.12	-162.66	-1.29	-22.87	-52.85	-94.83	-64.42	-40.52
NOPAT to Interest Expense	-5.83	-3.65	-9.00	-19.65	-101.93	-1.56	-16.66	-36.40	-66.78	-45.60	-28.34
EBIT Less CapEx to Interest Expense	-9.35	0.06	-78.14	-3.01	-162.85	-1.31	-25.14	-52.89	-94.67	-64.40	-40.53
NOPAT Less CapEx to Interest Expense	-6.20	-3.72	-9.20	-20.53	-102.12	-1.58	-18.92	-36.44	-66.62	-45.58	-28.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.83%	0.00%	0.00%	-64.17%	-60.13%

Financials Breakdown Chart

Volcon Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Volcon's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Volcon's net income appears to be on an upward trend, with a most recent value of -$150.05 million in 2025, rising from -$40.13 million in 2021. The previous period was -$45.51 million in 2024. Check out Volcon's forecast to explore projected trends and price targets.

Volcon's total operating income in 2025 was -$153.48 million, based on the following breakdown:

Total Gross Profit: -$362.62 thousand
Total Operating Expenses: $153.12 million

Over the last 4 years, Volcon's total revenue changed from $448.82 thousand in 2021 to $974.98 thousand in 2025, a change of 117.2%.

Volcon's total liabilities were at $103.22 million at the end of 2025, a 1,568.7% increase from 2024, and a 3,345.5% increase since 2020.

In the past 5 years, Volcon's cash and equivalents has ranged from $536.08 thousand in 2020 to $10.99 million in 2022, and is currently $8.96 million as of their latest financial filing in 2025.

Over the last 4 years, Volcon's book value per share changed from 1.38 in 2021 to 7.39 in 2025, a change of 435.4%.

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Financial statements for NASDAQ:EMPD last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Volcon (EMPD) Financials

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Volcon Financials - Frequently Asked Questions

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Volcon (EMPD) Financials

Annual Income Statements for Volcon

Quarterly Income Statements for Volcon

Annual Cash Flow Statements for Volcon

Quarterly Cash Flow Statements for Volcon

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Annual Metrics And Ratios for Volcon

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Financials Breakdown Chart

Volcon Financials - Frequently Asked Questions

When does Volcon's financial year end?

How has Volcon's net income changed over the last 4 years?

What is Volcon's operating income?

How has Volcon's revenue changed over the last 4 years?

How much debt does Volcon have?

How much cash does Volcon have?

How has Volcon's book value per share changed over the last 4 years?

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