Go Pro
→ The end may be near for these iconic stocks (From Chaikin Analytics) (Ad)tc pixel Free NCPL Stock Alerts

Netcapital (NCPL) Financials

Netcapital logo
$1.27 +0.23 (+22.12%)
Closing price 09/24/2026 04:00 PM Eastern
Extended Trading
$1.48 +0.21 (+16.14%)
As of 09:09 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Compare
Annual Income Statements for Netcapital

Annual Income Statements for Netcapital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 4/30/2015 4/30/2016 4/30/2017 4/30/2018 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024 4/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -0.49 -0.84 -0.83 0.13 0.58 0.60 1.47 5.31 2.95 -4.99 -28
Consolidated Net Income / (Loss)		 -0.49 -0.84 -0.83 0.13 0.59 0.55 1.47 3.50 2.95 -4.99 -28
Net Income / (Loss) Continuing Operations		 -0.85 -0.84 -0.83 0.13 0.59 0.55 1.47 5.31 2.95 -4.99 -28
Total Pre-Tax Income 		-0.49 -0.84 -0.83 0.13 0.59 0.42 2.08 4.05 3.81 -7.33 -28
Total Operating Income		 -0.85 -0.71 -0.55 -0.19 0.62 1.15 -0.40 -1.03 2.27 -3.44 -8.32
Total Gross Profit		 0.03 -0.07 0.02 0.09 0.99 1.74 3.96 5.37 8.41 4.84 0.83
Total Revenue		 0.09 0.04 0.02 0.11 1.01 1.75 4.72 5.48 8.49 4.95 0.87
Operating Revenue		 0.09 0.04 0.02 0.11 - 1.75 4.72 5.48 8.49 4.95 0.87
Total Cost of Revenue		 0.07 0.12 0.00 0.02 0.03 0.01 3.88 3.87 0.09 0.11 3.54
Operating Cost of Revenue		 0.07 0.12 0.00 0.02 - - 3.88 3.87 0.09 0.11 3.54
Total Operating Expenses		 0.88 0.64 0.57 0.28 0.36 0.60 1.25 2.64 6.14 9.33 5.68
Selling, General & Admin Expense		 0.66 0.26 0.03 0.10 0.22 0.18 1.15 2.49 5.98 7.88 5.53
Marketing Expense		 - - - 0.01 0.02 0.01 0.04 0.10 0.09 0.33 0.04
Amortization Expense		 - - - - - - - 0.00 - - 0.04
Other Operating Expenses / (Income)		 - - - 0.04 0.06 0.05 0.05 0.05 0.08 0.08 0.08
Total Other Income / (Expense), net		 0.37 -0.13 -0.28 0.32 -0.04 -0.72 2.48 6.88 1.54 -3.88 -20
Interest Expense		 0.08 0.11 0.12 0.07 0.02 0.02 0.09 -1.78 -0.13 0.05 0.04
Other Income / (Expense), net		 0.46 0.00 -0.16 0.39 -0.02 -0.70 2.57 5.10 1.41 -2.79 -20
Income Tax Expense		 0.00 0.00 0.00 0.00 -0.00 -0.13 0.61 0.54 0.85 -2.34 0.00
Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $1.50 $1.18 $1.31 $0.63 ($28.83) ($20.39)
Weighted Average Basic Shares Outstanding		 500M 506.03M 512.20M 637.66M 741.72M 402.28K 1.25M 2.67M 4.68M 172.94K 1.39M
Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $1.50 $0.89 $1.27 $0.63 ($28.83) ($20.39)
Weighted Average Diluted Shares Outstanding		 500M 506.03M 512.20M 637.66M 741.72M 402.28K 1.65M 2.75M 4.68M 172.94K 1.39M

Quarterly Income Statements for Netcapital

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

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.34 -2.23 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Consolidated Net Income / (Loss)		 0.34 -2.23 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Net Income / (Loss) Continuing Operations		 0.34 -2.23 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Total Pre-Tax Income 		0.01 -3.94 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Total Operating Income		 0.05 -1.21 -1.54 -2.51 -2.20 -1.69 -1.92 -3.29 -2.12 -2.17
Total Gross Profit		 2.02 0.98 0.34 0.13 0.15 0.15 0.40 0.18 0.05 0.09
Total Revenue		 2.04 1.04 0.35 0.14 0.17 0.15 0.40 0.19 0.05 0.09
Operating Revenue		 2.04 1.04 0.35 0.14 0.17 0.15 0.40 0.19 0.05 0.09
Total Cost of Revenue		 0.02 0.06 0.01 0.01 0.02 0.01 3.51 0.01 0.00 1.10
Operating Cost of Revenue		 0.02 0.06 0.01 0.01 0.02 0.01 3.51 0.01 0.00 1.10
Total Operating Expenses		 1.97 2.19 2.93 2.64 2.35 3.13 -2.44 3.47 2.17 1.22
Selling, General & Admin Expense		 1.90 2.14 1.85 2.61 2.33 1.80 -1.20 3.43 2.15 1.14
Marketing Expense		 0.05 0.03 0.01 0.01 - 0.01 0.01 0.01 - 0.00
Amortization Expense		 - - - - - - - - - 0.05
Other Operating Expenses / (Income)		 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Total Other Income / (Expense), net		 -0.04 -2.74 -1.07 -0.02 -0.02 -1.32 -19 -0.36 -0.01 0.42
Interest Expense		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.04 0.01 0.03
Interest & Investment Income		 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.01 0.00
Other Income / (Expense), net		 -0.03 -2.72 -0.01 -0.01 -0.01 -0.01 -20 -0.32 -0.01 0.45
Income Tax Expense		 -0.33 -1.71 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Basic Earnings per Share		 $2.52 ($13.60) ($15.07) ($5.10) ($2.34) ($1.57) ($14.81) ($1.27) ($0.44) ($0.32)
Weighted Average Basic Shares Outstanding		 134.79K 163.81K 172.94K 495.32K 947.46K 1.92M 1.39M 2.87M 4.81M 5.61M
Diluted Earnings per Share		 $2.52 ($13.60) ($15.07) ($5.10) ($2.34) ($1.57) ($14.81) ($1.27) ($0.44) ($0.32)
Weighted Average Diluted Shares Outstanding		 134.80K 163.81K 172.94K 495.32K 947.46K 1.92M 1.39M 2.87M 4.81M 5.61M
Weighted Average Basic & Diluted Shares Outstanding		 9.46M 20.01M 40.54M 774.93K 1.84M 2.19M 0.00 4.92M 6.87M 7.85M

Annual Cash Flow Statements for Netcapital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 4/30/2015 4/30/2016 4/30/2017 4/30/2018 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024 4/30/2025
Net Change in Cash & Equivalents		 0.00 -0.00 0.00 0.38 0.92 -0.01 2.46 -2.00 0.10 0.29 -0.57
Net Cash From Operating Activities		 -0.08 -0.02 -0.01 -0.05 0.03 -0.00 -3.25 -3.01 -4.62 -4.88 -5.34
Net Cash From Continuing Operating Activities		 -0.08 -0.02 -0.01 0.38 0.92 -0.00 -3.25 -3.01 -4.62 -4.88 -5.35
Net Income / (Loss) Continuing Operations		 -0.49 -0.84 -0.83 0.13 0.58 0.60 1.47 3.50 2.95 -4.99 -28
Consolidated Net Income / (Loss)		 -0.49 -0.84 -0.83 0.13 0.58 0.60 1.47 3.50 2.95 -4.99 -28
Amortization Expense		 0.00 - - - - - - 0.00 0.10 0.09 0.04
Non-Cash Adjustments To Reconcile Net Income		 0.09 0.21 0.33 0.13 0.06 -0.43 -4.15 -6.31 -9.51 1.91 21
Changes in Operating Assets and Liabilities, net		 0.09 0.22 0.10 0.12 0.28 -0.18 -0.57 -0.20 1.84 -1.90 2.16
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00 0.00 0.00 0.24 -0.32 0.20 -0.02 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00 0.00 0.00 0.24 -0.32 0.20 -0.02 0.00
Other Investing Activities, net		 - - - - - 0.00 0.24 -0.20 0.00 -0.02 0.00
Net Cash From Financing Activities		 0.08 0.02 0.02 0.05 -0.01 -0.00 5.47 1.33 4.51 5.19 4.77
Net Cash From Continuing Financing Activities		 0.08 0.02 0.02 0.00 0.00 -0.00 5.47 1.33 4.51 5.19 4.77
Repayment of Debt		 -0.01 -0.00 -0.00 - - -0.00 - 0.40 -1.06 -0.35 0.00
Issuance of Debt		 0.09 0.02 0.02 - - - 0.00 0.30 - 0.00 0.26
Issuance of Common Equity		 - - - - - 0.00 1.20 0.63 5.57 5.54 1.98
Other Financing Activities, net		 - - 0.00 - - 0.00 4.27 - 0.00 0.00 2.53
Cash Interest Paid		 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.21 0.05 0.03
Cash Income Taxes Paid		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for Netcapital

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

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
Net Change in Cash & Equivalents		 -0.50 1.64 -1.31 -0.01 0.49 -0.73 -0.32 4.27 -2.88 -0.97
Net Cash From Operating Activities		 -0.48 -1.62 -1.31 -1.96 -1.49 -1.16 -0.72 -4.21 -2.58 -0.87
Net Cash From Continuing Operating Activities		 -0.48 -1.62 -1.31 -1.96 -1.49 -1.16 -0.73 -4.21 -2.58 -0.87
Net Income / (Loss) Continuing Operations		 0.34 -2.23 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Consolidated Net Income / (Loss)		 0.34 -2.23 -2.61 -2.53 -2.22 -3.01 -21 -3.64 -2.13 -1.81
Amortization Expense		 0.03 0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.05
Non-Cash Adjustments To Reconcile Net Income		 0.28 2.93 -0.62 0.13 0.12 1.42 19 0.77 0.14 0.41
Changes in Operating Assets and Liabilities, net		 -1.13 -2.35 1.90 0.43 0.60 0.41 0.72 -1.35 -0.60 0.48
Net Cash From Investing Activities		 -0.02 - - 0.00 - - - 0.00 - -0.10
Net Cash From Continuing Investing Activities		 -0.02 - - 0.00 - - - 0.00 - -0.10
Cash Interest Paid		 0.01 0.00 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.02

Annual Balance Sheets for Netcapital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 4/30/2015 4/30/2016 4/30/2017 4/30/2018 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024 4/30/2025
Total Assets		 1.31 0.70 0.02 0.10 0.72 2.21 26 32 42 42 21
Total Current Assets		 0.22 0.16 0.02 0.04 0.07 0.48 4.48 2.91 2.54 1.04 0.40
Cash & Equivalents		 0.01 0.00 0.00 0.00 0.02 0.01 2.47 0.47 0.57 0.86 0.29
Accounts Receivable		 0.01 - 0.00 0.01 0.01 0.00 1.36 2.43 1.39 0.14 0.08
Prepaid Expenses		 0.20 0.15 0.02 0.04 0.03 0.47 0.65 0.01 0.58 0.02 0.03
Plant, Property, & Equipment, net		 0.92 0.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 0.17 0.01 0.00 0.06 0.65 1.74 21 29 39 41 21
Noncurrent Note & Lease Receivables		 - - - - - - 0.00 0.20 0.20 0.20 0.05
Intangible Assets		 - - - - - - - - 16 15 15
Other Noncurrent Operating Assets		 0.17 0.01 0.00 0.03 0.01 1.56 21 28 23 25 5.75
Total Liabilities & Shareholders' Equity		 1.31 0.70 0.02 0.10 0.72 2.21 26 32 42 42 21
Total Liabilities		 2.26 2.49 2.61 1.58 1.58 1.53 12 6.55 5.66 3.62 6.00
Total Current Liabilities		 0.56 0.76 2.61 0.58 0.58 1.53 9.15 6.03 5.16 3.12 5.50
Short-Term Debt		 0.08 0.09 0.62 0.06 0.04 0.04 1.89 2.19 2.29 1.92 2.18
Accounts Payable		 0.23 0.34 0.35 0.37 0.37 0.31 0.33 0.54 0.65 0.79 2.94
Accrued Expenses		 0.23 0.33 0.43 0.14 0.13 0.15 0.31 0.23 0.29 0.31 0.27
Current Deferred Revenue		 0.02 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00
Other Current Nonoperating Liabilities		 - - - 0.01 0.02 0.03 0.12 0.22 0.10 0.09 0.10
Total Noncurrent Liabilities		 1.70 1.72 0.00 1.00 1.00 0.00 2.39 1.47 0.50 0.50 0.50
Long-Term Debt		 0.55 0.55 - - - 0.00 2.39 0.50 0.50 0.50 0.50
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -0.95 -1.78 -2.59 -1.48 -0.87 0.68 14 25 36 38 15
Total Preferred & Common Equity		 -0.95 -1.78 -2.59 -1.48 -0.87 0.68 14 25 36 38 15
Preferred Stock		 - - - - - - - - - - 0.00
Total Common Equity		 -0.95 -1.78 -2.59 -1.48 -0.87 0.68 14 25 36 38 15
Common Stock		 1.17 1.17 1.19 2.17 2.20 3.14 15 22 31 37 43
Retained Earnings		 -2.12 -2.95 -3.78 -3.65 -3.07 -2.46 -0.99 2.51 5.47 0.48 -28
Other Equity Adjustments		 - - - - - - - 0.24 0.18 0.12 0.20

Quarterly Balance Sheets for Netcapital

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

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 10/31/2023 1/31/2024 7/31/2024 10/31/2024 1/31/2025 7/31/2025 10/31/2025 1/31/2026
Total Assets		 45 44 41 42 40 28 25 26
Total Current Assets		 3.92 6.05 0.92 1.42 0.67 4.99 2.01 1.04
Cash & Equivalents		 0.53 2.17 0.86 1.35 0.61 4.56 1.68 0.72
Accounts Receivable		 3.06 3.70 0.00 0.02 0.00 0.02 0.02 0.01
Prepaid Expenses		 0.31 0.16 0.05 0.03 0.04 0.41 0.30 0.31
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 41 38 41 41 39 23 23 25
Noncurrent Note & Lease Receivables		 0.20 0.20 0.20 0.20 0.20 0.05 0.05 0.05
Intangible Assets		 16 16 15 15 15 18 18 19
Other Noncurrent Operating Assets		 24 22 25 25 24 5.86 5.86 5.82
Total Liabilities & Shareholders' Equity		 45 44 41 42 40 28 25 26
Total Liabilities		 5.55 3.83 3.93 4.53 4.93 5.31 4.00 4.46
Total Current Liabilities		 5.05 3.33 3.43 4.03 4.43 4.81 3.51 3.96
Short-Term Debt		 1.94 1.94 1.92 1.92 1.92 2.52 1.92 1.93
Accounts Payable		 0.89 0.90 1.18 1.82 2.16 1.93 1.28 1.67
Accrued Expenses		 0.42 0.39 0.24 0.20 0.25 0.24 0.20 0.26
Current Deferred Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Current Nonoperating Liabilities		 0.09 0.09 0.09 0.10 0.10 0.11 0.11 0.11
Total Noncurrent Liabilities		 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.49
Long-Term Debt		 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.49
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 39 40 38 37 35 23 21 22
Total Preferred & Common Equity		 39 40 38 37 35 23 21 22
Preferred Stock		 - - - - - - - 0.00
Total Common Equity		 39 40 38 37 35 23 21 22
Common Stock		 34 37 39 42 42 55 55 57
Retained Earnings		 5.31 3.09 -2.05 -4.27 -7.27 -31 -34 -35
Other Equity Adjustments		 0.12 0.12 0.12 0.12 0.12 0.00 0.00 0.00

Annual Metrics And Ratios for Netcapital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 4/30/2015 4/30/2016 4/30/2017 4/30/2018 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024 4/30/2025
DEI Shares Outstanding		 500,000,000.00 506,000,000.00 508,000,000.00 708,049,380.00 749,706,712.00 830,956,712.00 2,156,752.00 2,896,844.00 6,071,777.00 20,011,132.00 2,192,046.00
DEI Adjusted Shares Outstanding		 7,142,857.00 7,228,571.00 7,257,143.00 10,114,991.00 10,710,096.00 11,870,810.00 30,811.00 41,383.00 86,740.00 285,873.00 2,192,046.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.07 -0.12 -0.11 0.01 0.05 0.05 47.70 128.23 34.07 -17.44 -12.91
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1,901.11% -52.07% -52.07% 416.88% 811.76% 73.00% 169.22% 16.09% 54.98% -41.71% -82.44%
EBITDA Growth		 -1,652.87% -90.95% 0.13% 161.58% 202.08% -26.78% 389.03% 87.68% -7.31% -262.58% -359.31%
EBIT Growth		 -3,967.75% -78.41% 0.06% 128.38% 202.08% -26.78% 389.03% 87.68% -9.67% -269.39% -352.96%
NOPAT Growth		 -8,650.09% 17.06% 22.37% 50.03% 427.21% 137.99% -118.94% -215.03% 297.47% -236.72% -141.73%
Net Income Growth		 -1,635.46% -72.11% 0.93% 115.83% 350.22% -6.19% 165.35% 138.39% -15.66% -268.74% -467.58%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -40.67% 42.70% -50.39% -268.74% 29.28%
Operating Cash Flow Growth		 -300.80% 73.10% 34.75% -253.73% 160.93% -111.79% -90,101.66% 7.51% -53.57% -5.69% -9.41%
Free Cash Flow Firm Growth		 -89.21% 155.24% 36.26% -261.41% 190.46% -208.84% -2,098.32% 21.76% 26.13% 60.94% 556.87%
Invested Capital Growth		 -0.75% -261.16% -73.04% 26.91% -1.74% 150.59% 2,070.67% 70.46% 39.36% 2.93% -55.78%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17.57% -35.85% 7.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 153.99% -1,330.05% -255.15%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 159.38% -1,048.62% -254.02%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 49.45% -534.55% -4.82%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11.67% -217.28% -173.15%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -23.17% -217.28% -276.89%
Operating Cash Flow Q/Q Growth		 0.00% 41.20% 0.00% 0.00% 0.00% 0.00% 0.00% 2.34% -12.12% -2.34% 9.94%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 86.04% 1,007.11%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 146.57% -2.63% -52.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.91% -158.18% 100.00% 78.52% 97.51% 99.37% 83.92% 97.99% 99.00% 97.82% 95.36%
EBITDA Margin		 -182.43% -726.81% -1,514.60% 180.46% 59.79% 25.30% 45.96% 74.31% 44.44% -123.95% -3,242.14%
Operating Margin		 -910.69% -1,575.91% -2,552.74% -172.76% 61.60% 65.42% -8.50% -18.81% 26.75% -69.52% -957.07%
EBIT Margin		 -423.36% -1,575.91% -3,286.31% 180.46% 59.79% 25.30% 45.96% 74.31% 43.31% -125.85% -3,246.22%
Profit (Net Income) Margin		 -518.70% -1,862.55% -3,850.29% 117.95% 58.24% 31.58% 31.13% 63.92% 34.79% -100.70% -3,255.05%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.64% 130.36% 70.57% 86.56% 77.58% 68.07% 100.00%
Interest Burden Percent		 122.52% 118.19% 117.16% 65.36% 96.80% 95.75% 95.98% 99.39% 103.55% 117.56% 100.27%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% -0.64% -30.36% 29.43% 13.44% 22.42% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.37% -4.10% 5.37% -6.21% -20.53%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 174.03% 209.91% 61.25% -154.16% -1,171.90%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23.15% 21.88% 4.26% -7.25% -86.58%
Return on Equity (ROE)		 58.56% 61.19% 37.86% -6.44% -50.26% -595.21% 19.78% 17.78% 9.63% -13.46% -107.11%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -95.93% -185.75% -56.21% -27.52% -9.10% 56.83%
Operating Return on Assets (OROA)		 -60.30% -70.20% -195.95% 339.59% 148.20% 30.26% 15.54% 14.17% 10.00% -14.95% -90.38%
Return on Assets (ROA)		 -73.88% -82.97% -229.57% 221.96% 144.37% 37.77% 10.52% 12.19% 8.03% -11.96% -90.62%
Return on Common Equity (ROCE)		 58.56% 61.19% 37.86% -6.44% -50.26% -595.21% 19.78% 17.78% 9.63% -13.46% -107.11%
Return on Equity Simple (ROE_SIMPLE)		 51.23% 46.85% 31.97% -8.84% -68.23% 81.55% 10.37% 13.88% 8.17% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.60 -0.50 -0.38 -0.19 0.63 1.50 -0.28 -0.89 1.76 -2.41 -5.82
NOPAT Margin		 -637.48% -1,103.14% -1,786.92% -172.76% 62.00% 85.29% -6.00% -16.29% 20.75% -48.67% -669.95%
Net Nonoperating Expense Percent (NNEP)		 -21.59% 53.34% 70.15% -97.39% -13.67% -350.12% -177.40% -214.01% -55.88% 147.95% 1,151.37%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - -5.97% -33.12%
Cost of Revenue to Revenue		 71.09% 258.18% 0.00% 21.48% 2.49% 0.63% 82.11% 70.68% 1.00% 2.18% 407.44%
SG&A Expenses to Revenue		 702.20% 568.64% 117.15% 89.51% 21.95% 10.00% 24.40% 45.51% 70.36% 159.06% 636.14%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 939.60% 1,417.74% 2,652.74% 251.27% 35.91% 33.94% 26.40% 48.13% 72.25% 188.51% 653.71%
Earnings before Interest and Taxes (EBIT)		 -0.40 -0.71 -0.71 0.20 0.61 0.44 2.17 4.07 3.68 -6.23 -28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.17 -0.33 -0.33 0.20 0.61 0.44 2.17 4.07 3.77 -6.14 -28
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.23 0.07 0.30
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.41 0.11 21.27
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.97 0.54 5.09
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.79 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% 35.78% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.27 0.10 0.39
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.20 0.80 7.85
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.71 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 2.78 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 5.81 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)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.42
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.67 -0.36 -0.24 -0.04 -0.05 0.06 0.30 0.11 0.08 0.06 0.18
Long-Term Debt to Equity		 -0.58 -0.31 0.00 0.00 0.00 0.00 0.17 0.02 0.01 0.01 0.03
Financial Leverage		 -0.62 -0.47 -0.29 -0.16 0.24 2.89 0.13 0.10 0.07 0.05 0.07
Leverage Ratio		 -0.79 -0.74 -0.16 -0.03 -0.35 -15.76 1.88 1.46 1.20 1.13 1.18
Compound Leverage Factor		 -0.97 -0.87 -0.19 -0.02 -0.34 -15.09 1.80 1.45 1.24 1.32 1.19
Debt to Total Capital		 -205.75% -56.77% -31.69% -4.23% -5.13% 5.85% 23.15% 9.62% 7.15% 6.00% 15.26%
Short-Term Debt to Total Capital		 -27.40% -8.17% -31.69% -4.23% -5.13% 5.85% 10.22% 7.85% 5.87% 4.76% 12.41%
Long-Term Debt to Total Capital		 -178.36% -48.60% 0.00% 0.00% 0.00% 0.00% 12.93% 1.77% 1.28% 1.24% 2.84%
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		 305.75% 156.77% 131.69% 104.23% 105.13% 94.15% 76.85% 90.38% 92.85% 94.00% 84.74%
Debt to EBITDA		 -3.74 -1.98 -1.91 0.30 0.07 0.10 1.97 0.66 0.74 -0.39 -0.10
Net Debt to EBITDA		 -3.70 -1.98 -1.90 0.18 -1.03 0.07 0.83 0.48 0.52 -0.21 -0.08
Long-Term Debt to EBITDA		 -3.24 -1.70 0.00 0.00 0.00 0.00 1.10 0.12 0.13 -0.08 -0.02
Debt to NOPAT		 -1.07 -1.30 -1.62 -0.31 0.07 0.03 -15.08 -3.01 1.58 -1.00 -0.46
Net Debt to NOPAT		 -1.06 -1.30 -1.61 -0.19 -0.99 0.02 -6.34 -2.21 1.12 -0.55 -0.41
Long-Term Debt to NOPAT		 -0.93 -1.12 0.00 0.00 0.00 0.00 -8.42 -0.55 0.28 -0.21 -0.09
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.48 0.02 -6.13
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		 0.39 0.20 0.01 0.07 0.11 0.31 0.49 0.48 0.49 0.33 0.07
Quick Ratio		 0.02 0.00 0.00 0.01 0.04 0.01 0.42 0.48 0.38 0.33 0.07
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.59 0.33 0.45 -0.72 0.65 -0.71 -16 -12 -9.04 -3.53 16
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -7.74 2.89 3.88 -10.40 33.67 -37.67 -179.02 0.00 0.00 -76.74 390.52
Operating Cash Flow to Interest Expense		 -1.05 -0.19 -0.12 -0.72 1.57 -0.19 -37.22 0.00 0.00 -106.11 -129.31
Operating Cash Flow Less CapEx to Interest Expense		 -1.05 -0.19 -0.12 -0.72 1.57 -0.19 -37.22 0.00 0.00 -106.11 -129.31
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.04 0.06 1.88 2.48 1.20 0.34 0.19 0.23 0.12 0.03
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 159.00 0.00 0.00 2.89 4.44 6.50 8.10
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.31 0.41 0.00 0.07 0.07 0.03 12.08 8.93 0.14 0.15 1.90
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 2.30 0.00 0.00 126.23 82.13 56.19 45.07
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 1,195.84 898.91 0.00 5,530.14 5,383.45 11,207.42 30.22 40.89 2,553.95 2,443.57 192.39
Cash Conversion Cycle (CCC)		 -1,195.84 -898.91 0.00 -5,530.14 -5,381.15 -11,207.42 -30.22 85.34 -2,471.82 -2,387.38 -147.32
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.32 -1.14 -1.97 -1.44 -1.47 0.74 16 27 38 39 17
Invested Capital Turnover		 -0.30 -0.06 -0.01 -0.07 -0.70 -4.84 0.56 0.25 0.26 0.13 0.03
Increase / (Decrease) in Invested Capital		 -0.00 -0.82 -0.83 0.53 -0.03 2.21 15 11 11 1.12 -22
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10 3.97 6.82
Market Capitalization		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.26 2.66 4.43
Book Value per Share		 $0.00 $0.00 ($0.01) $0.00 $0.00 $0.00 $0.02 $8.71 $5.95 $1.90 $6.80
Tangible Book Value per Share		 $0.00 $0.00 ($0.01) $0.00 $0.00 $0.00 $0.02 $8.71 $3.34 $1.16 $0.10
Total Capital		 -0.31 -1.14 -1.97 -1.42 -0.82 0.72 18 28 39 40 18
Total Debt		 0.64 0.65 0.62 0.06 0.04 0.04 4.27 2.69 2.79 2.42 2.68
Total Long-Term Debt		 0.55 0.55 0.00 0.00 0.00 0.00 2.39 0.50 0.50 0.50 0.50
Net Debt		 0.63 0.65 0.62 0.04 -0.62 0.03 1.80 1.97 1.98 1.32 2.39
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.26 -0.52 -1.97 -0.48 -0.50 -1.03 -5.25 -1.40 -0.91 -1.02 -3.20
Debt-free Net Working Capital (DFNWC)		 -0.26 -0.52 -1.97 -0.48 -0.48 -1.02 -2.78 -0.92 -0.34 -0.15 -2.91
Net Working Capital (NWC)		 -0.34 -0.61 -2.59 -0.54 -0.52 -1.06 -4.67 -3.11 -2.62 -2.07 -5.10
Net Nonoperating Expense (NNE)		 -0.11 0.34 0.44 -0.32 0.04 0.94 -1.75 -4.40 -1.19 2.58 22
Net Nonoperating Obligations (NNO)		 0.63 0.65 0.62 0.04 -0.60 0.06 1.91 2.19 2.07 1.41 2.49
Total Depreciation and Amortization (D&A)		 0.23 0.38 0.38 0.00 0.00 0.00 0.00 0.00 0.10 0.09 0.04
Debt-free, Cash-free Net Working Capital to Revenue		 -281.28% -1,151.94% -9,162.47% -432.09% -48.91% -58.54% -111.31% -25.48% -10.68% -20.54% -368.28%
Debt-free Net Working Capital to Revenue		 -275.68% -1,150.06% -9,147.02% -430.60% -47.03% -57.91% -58.91% -16.83% -3.97% -3.11% -334.99%
Net Working Capital to Revenue		 -366.41% -1,357.15% -12,045.30% -484.83% -51.19% -60.31% -98.85% -56.81% -30.88% -41.89% -586.13%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $82.60 $91.70 $44.10 ($28.70) ($20.39)
Adjusted Weighted Average Basic Shares Outstanding		 7.14M 7.23M 7.32M 10.45M 10.60M 11.49M 17.86K 38.09K 66.82K 172.94K 1.39M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $62.30 $88.90 $44.10 ($28.70) ($20.39)
Adjusted Weighted Average Diluted Shares Outstanding		 7.14M 7.23M 7.32M 10.45M 10.60M 11.49M 23.53K 39.26K 66.82K 172.94K 1.39M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.14M 7.23M 7.32M 9.11M 10.60M 11.49M 0.00 0.00 134.51K 579.15K 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -0.60 -0.50 -0.27 -0.04 0.48 1.05 -0.28 -0.89 1.76 -1.68 -5.82
Normalized NOPAT Margin		 -637.48% -1,103.14% -1,252.20% -38.95% 47.62% 60.02% -6.00% -16.29% 20.75% -33.84% -669.95%
Pre Tax Income Margin		 -518.70% -1,862.55% -3,850.29% 117.95% 57.87% 24.23% 44.11% 73.85% 44.84% -147.95% -3,255.05%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -5.16 -6.22 -6.13 2.89 31.23 23.50 24.85 0.00 0.00 -135.49 -683.59
NOPAT to Interest Expense		 -7.78 -4.36 -3.33 -2.76 32.38 79.22 -3.24 0.00 0.00 -52.40 -141.08
EBIT Less CapEx to Interest Expense		 -5.16 -6.22 -6.13 2.89 31.23 23.50 24.85 0.00 0.00 -135.49 -683.59
NOPAT Less CapEx to Interest Expense		 -7.78 -4.36 -3.33 -2.76 32.38 79.22 -3.24 0.00 0.00 -52.40 -141.08
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% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Netcapital

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

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
DEI Shares Outstanding		 9,434,132.00 9,459,132.00 20,011,132.00 40,540,680.00 774,934.00 1,841,335.00 2,192,046.00 2,192,046.00 4,917,889.00 6,867,899.00
DEI Adjusted Shares Outstanding		 134,773.00 135,130.00 285,873.00 579,153.00 774,934.00 1,841,335.00 2,192,046.00 2,192,046.00 4,917,889.00 6,867,899.00
DEI Earnings Per Adjusted Shares Outstanding		 2.52 -16.48 -9.12 -4.36 -2.87 -1.63 -9.37 -1.66 -0.43 -0.26
Growth Metrics		 - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 1.33 -0.84 -1.08 -1.76 -1.54 -1.18 -1.35 -2.30 -1.48 -1.52
Return On Investment Capital (ROIC_SIMPLE)		 3.20% -1.97% -2.67% -4.40% -3.87% -3.16% -7.65% -8.80% -6.22% -6.34%
Earnings before Interest and Taxes (EBIT)		 0.02 -3.93 -1.55 -2.52 -2.21 -1.70 -22 -3.61 -2.13 -1.72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.05 -3.90 -1.54 -2.51 -2.20 -1.69 -22 -3.60 -2.12 -1.67
Valuation Ratios		 - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -23 -26 -2.20 -0.76 1.00 2.60 21 15 15 12
Efficiency Ratios		 - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 41 40 39 39 38 37 17 22 22 23
Increase / (Decrease) in Invested Capital		 25 25 1.12 -0.99 -2.55 -3.78 -22 -17 -16 -13
Book Value per Share		 $4.15 $4.26 $1.90 $0.93 $48.27 $18.99 $6.80 $10.55 $4.36 $3.15
Tangible Book Value per Share		 $2.47 $2.59 $1.16 $0.56 $29.28 $11.01 $0.10 $2.55 $0.80 $0.36
Total Capital		 42 43 40 40 40 37 18 26 24 24
Total Debt		 2.44 2.44 2.42 2.42 2.42 2.42 2.68 3.02 2.42 2.42
Total Long-Term Debt		 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.49
Net Debt		 1.67 0.02 1.32 1.32 0.83 1.57 2.39 -1.54 0.74 1.70
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.28 2.48 -1.02 -1.44 -2.04 -2.45 -3.20 -1.86 -1.26 -1.71
Debt-free Net Working Capital (DFNWC)		 0.80 4.65 -0.15 -0.59 -0.70 -1.84 -2.91 2.71 0.42 -1.00
Net Working Capital (NWC)		 -1.13 2.72 -2.07 -2.51 -2.62 -3.76 -5.10 0.19 -1.50 -2.92
Net Nonoperating Expense (NNE)		 0.99 1.38 1.53 0.77 0.68 1.83 19 1.34 0.65 0.29
Net Nonoperating Obligations (NNO)		 1.75 0.11 1.41 1.42 0.93 1.66 2.49 -1.43 0.84 1.81
Total Depreciation and Amortization (D&A)		 0.03 0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.05
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.80 ($13.30) ($1,054.90) ($5.10) ($2.34) ($1.57) ($14.81) ($1.27) ($0.44) ($0.32)
Adjusted Weighted Average Basic Shares Outstanding		 134.79K 163.81K 2.47K 495.32K 947.46K 1.92M 1.39M 2.87M 4.81M 5.61M
Adjusted Diluted Earnings per Share		 $2.80 ($13.30) ($1,054.90) ($5.10) ($2.34) ($1.57) ($14.81) ($1.27) ($0.44) ($0.32)
Adjusted Weighted Average Diluted Shares Outstanding		 134.80K 163.81K 2.47K 495.32K 947.46K 1.92M 1.39M 2.87M 4.81M 5.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($1,054.90) $0.00 $0.00 $0.00 ($14.81) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 135.13K 285.87K 579.15K 774.93K 1.84M 2.19M 0.00 4.92M 6.87M 7.85M
Normalized Net Operating Profit after Tax (NOPAT)		 0.04 -0.84 -1.08 -1.76 -1.54 -0.27 -1.35 -2.30 -1.48 -1.52
Debt Service Ratios		 - - - - - - - - - -
Payout Ratios		 - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Netcapital’s financial profile remains under pressure, despite some quarter-to-quarter improvement. Revenue increased to $94,347 in Q3 fiscal 2026 from $51,076 in Q2, but remained well below the $190,058 reported in Q1 and the $2.0 million recorded in Q2 fiscal 2024. The company has not demonstrated a sustained revenue recovery over the reviewed periods.

Profitability improved sequentially, with the net loss narrowing to $1.81 million in Q3 fiscal 2026 from $2.13 million in Q2 and $3.64 million in Q1. However, Netcapital has reported net losses in every provided quarter since Q3 fiscal 2024, apart from a $339,616 profit in Q2 fiscal 2024. The latest quarter’s $450,050 of other income also helped reduce the reported loss.

Cash generation remains the primary concern. Operating cash flow was negative in every reported quarter, including negative $868,745 in Q3 fiscal 2026. Cash and equivalents fell from $4.56 million at the end of Q1 fiscal 2026 to $1.68 million in Q2 and $715,443 in Q3. At the latest balance-sheet date, current liabilities of $3.96 million significantly exceeded current assets of $1.04 million.

  • The Q3 fiscal 2026 net loss improved to $1.81 million from $2.13 million in Q2 and $3.64 million in Q1.
  • Selling, general and administrative expense declined to $1.14 million in Q3 from $2.15 million in Q2 and $3.43 million in Q1, indicating some reduction in operating spending.
  • Total debt declined modestly from approximately $2.42 million in Q2 fiscal 2026 to approximately $2.42 million in Q3, while the company reported a $300,000 debt repayment in Q2 and no new debt issuance in the latest quarter.
  • Shareholders’ equity remained positive at $21.60 million at January 31, 2026, providing a financial cushion if the reported asset values are realized.
  • Q3 revenue increased sequentially, but at $94,347 it was still materially below the $190,058 reported in Q1 fiscal 2026 and historical quarterly levels above $1 million.
  • Q3 operating results were distorted by a $1.10 million cost of revenue charge, producing gross profit of only $92,524 despite the reported revenue of $94,347.
  • Operating cash flow has been negative throughout the supplied periods, and Q3 fiscal 2026 cash usage of $868,745 exceeded the company’s $715,443 cash balance at quarter-end.
  • Cash declined approximately 84% from $4.56 million at the end of Q1 fiscal 2026 to $715,443 at the end of Q3, raising the risk of additional financing or capital raising.
  • Current liabilities were nearly four times current assets at the latest quarter-end, reflecting substantial short-term liquidity pressure.
  • The share count expanded sharply, with weighted-average basic shares rising from 172,937 in Q4 fiscal 2024 to 5.61 million in Q3 fiscal 2026. The $8.51 million common-equity issuance in Q1 fiscal 2026 helped fund operations but increased dilution risk.

Overall, the latest quarter shows lower expenses and a narrower loss, but these improvements are outweighed by weak revenue, recurring operating losses, persistent cash burn and deteriorating liquidity. Investors should closely monitor future equity issuance, cash balances and whether revenue can recover enough to support positive operating cash flow.

09/25/26 09:09 AM ETAI Generated. May Contain Errors.

Netcapital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Netcapital's financial year ends in April. Their financial year 2025 ended on April 30, 2025.

Netcapital's net income appears to be on a downward trend, with a most recent value of -$28.30 million in 2025, falling from -$485.67 thousand in 2015. The previous period was -$4.99 million in 2024. See Netcapital's forecast for analyst expectations on what's next for the company.

Netcapital's total operating income in 2025 was -$8.32 million, based on the following breakdown:
  • Total Gross Profit: $829.12 thousand
  • Total Operating Expenses: $5.68 million

Over the last 10 years, Netcapital's total revenue changed from $93.63 thousand in 2015 to $869.46 thousand in 2025, a change of 828.6%.

In the past 9 quarters, Netcapital's cash and equivalents has ranged from $528.83 thousand in Q2 2024 to $4.56 million in Q1 2026, and is currently $715.44 thousand as of their latest financial filing in Q3 2026.

Netcapital had total debt of $2.68 million at the end of 2025, a 10.9% increase from 2024, and a 320.6% increase since 2015.

Over the last 10 years, Netcapital's book value per share changed from 0.00 in 2015 to 6.80 in 2025.


Related Companies

Financial statements for NASDAQ:NCPL last updated on 9/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
ALERT: Drop these 5 stocks before the market opens tomorrow!
The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings researc...
Weiss Ratings | Sponsoredtc pixel
Small Colorado Company (Backed by Sam Altman) Could Save U.S. Power Grid
A small Colorado company has secured rights to technology that could prevent the U.S. public power grid from c...
Altimetry | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
Stansberry Research | Sponsoredtc pixel
Here’s Why Trump Won’t End The Iran War
Trump has called an Iran deal close 38 times since the war began, yet the fighting keeps flaring back up. O...
Banyan Hill Publishing | Sponsoredtc pixel
These gold assets are priced for $1,800 gold [it's over $4,000]
Gold's major miners are generating record free cash flow, with margins as high as 75 percent even after gold's...
Golden Portfolio | Sponsoredtc pixel
Your book is inside
The "Sucker's Bet" Most New Options Traders Fall For Most people who try options lose money the same way. ...
Profits Run | Sponsoredtc pixel