What is Oxus Acquisition's operating income?

Oxus Acquisition's total operating income in 2025 was -$11.04 million, based on the following breakdown: Total Gross Profit: $3.51 million Total Operating Expenses: $18.40 million

Oxus Acquisition (OXUS) Financials

$0.85 +0.00 (+0.01%)

As of 07/17/2026

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Annual Income Statements for Oxus Acquisition

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

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-0.30	-27	-27	-22
Consolidated Net Income / (Loss)	-0.30	-27	-25	-19
Net Income / (Loss) Continuing Operations	-0.30	-27	-27	-22
Total Pre-Tax Income	-0.30	-28	-25	-19
Total Operating Income	-2.89	-20	-20	-11
Total Gross Profit	0.00	-1.30	2.19	3.51
Total Revenue	0.00	30	57	62
Operating Revenue	-	30	57	62
Total Cost of Revenue	0.00	31	49	51
Operating Cost of Revenue	-	31	49	51
Total Operating Expenses	2.89	19	25	18
Selling, General & Admin Expense	2.89	19	23	15
Depreciation Expense	-	-	2.32	1.84
Impairment Charge	-	-	0.00	2.01
Total Other Income / (Expense), net	2.58	-7.87	-10	-14
Interest Expense	-	7.28	5.06	5.99
Other Income / (Expense), net	0.00	-0.59	-5.05	-8.03
Income Tax Expense	-	-0.34	-0.13	-0.07
Basic Earnings per Share	($0.02)	($2.56)	($1.25)	($0.89)
Weighted Average Basic Shares Outstanding	21.86M	10.75M	20.31M	21.43M
Diluted Earnings per Share	-	($2.56)	($1.25)	($0.89)
Weighted Average Diluted Shares Outstanding	6.56M	10.75M	20.31M	21.43M

This table shows Oxus Acquisition'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	-6.59	-5.21	-9.65	-7.39	-4.77	-5.14	-4.19	-6.22	-4.34	-7.34	-3.51
Consolidated Net Income / (Loss)	-6.59	-6.66	-8.43	-6.30	-4.83	-5.77	-4.19	-4.60	-3.78	-6.41	-3.51
Net Income / (Loss) Continuing Operations	-6.59	-5.21	-9.65	-7.39	-4.77	-5.14	-4.19	-6.22	-4.34	-7.34	-3.51
Total Pre-Tax Income	-6.59	-7.01	-8.43	-6.28	-4.83	-5.92	-4.19	-4.59	-3.78	-6.49	-3.51
Total Operating Income	-4.42	-4.51	-6.97	-5.19	-3.62	-4.62	-2.92	-3.36	-1.92	-2.84	-2.06
Total Gross Profit	-0.48	0.56	0.24	0.42	1.27	0.25	0.90	0.51	1.04	1.06	0.84
Total Revenue	7.73	-1.32	16	10	15	-1.72	6.85	6.61	14	26	7.37
Operating Revenue	7.73	-1.32	16	10	15	-1.72	6.85	6.61	14	26	7.37
Total Cost of Revenue	8.20	-1.80	14	9.41	12	-1.14	5.95	6.67	12	22	6.53
Operating Cost of Revenue	8.20	-1.80	14	9.41	12	-1.14	5.95	6.20	12	22	6.53
Total Operating Expenses	3.95	5.07	8.22	6.01	5.36	4.87	3.82	4.15	3.42	6.53	2.90
Selling, General & Admin Expense	3.44	5.58	7.22	5.61	4.89	7.30	3.82	2.51	2.97	5.26	2.90
Total Other Income / (Expense), net	-2.16	-0.96	-2.92	-2.19	-2.42	0.16	-1.27	-2.46	-3.71	-5.30	-1.45
Interest Expense	2.17	1.74	1.46	1.10	1.21	1.30	1.26	1.23	1.86	1.64	1.45
Other Income / (Expense), net	0.00	0.78	-1.46	-1.09	-1.21	1.46	-0.01	-1.23	-1.86	-3.65	-0.00
Income Tax Expense	0.00	-0.35	-	0.01	0.00	-0.15	0.00	0.01	0.00	-	0.00
Basic Earnings per Share	($0.61)	($0.63)	($0.49)	$0.29	($0.23)	($0.24)	($0.20)	$0.21	($0.18)	($0.72)	($0.16)
Weighted Average Basic Shares Outstanding	10.73M	10.75M	17.08M	21.38M	21.38M	20.31M	21.38M	21.41M	21.46M	21.43M	21.43M
Diluted Earnings per Share	($0.61)	($0.63)	($0.49)	$0.29	($0.23)	($0.24)	($0.20)	$0.21	($0.18)	($0.72)	($0.16)
Weighted Average Diluted Shares Outstanding	10.73M	10.75M	17.08M	21.38M	21.38M	20.31M	21.38M	21.41M	21.46M	21.43M	21.43M

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

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.44	2.47	-6.96	-0.59
Net Cash From Operating Activities	-2.11	-18	-15	-6.60
Net Cash From Continuing Operating Activities	-2.11	-18	-15	-6.60
Net Income / (Loss) Continuing Operations	-0.30	-27	-25	-19
Consolidated Net Income / (Loss)	-0.30	-27	-25	-19
Depreciation Expense	-	3.94	2.32	1.84
Amortization Expense	-	0.12	0.31	0.50
Non-Cash Adjustments To Reconcile Net Income	-2.58	2.56	0.72	1.27
Changes in Operating Assets and Liabilities, net	0.78	2.85	6.88	8.77
Net Cash From Investing Activities	0.00	-4.47	-1.91	-0.07
Net Cash From Continuing Investing Activities	0.00	-4.47	-1.91	-0.07
Purchase of Property, Plant & Equipment	-	-4.47	-1.97	-0.07
Other Investing Activities, net	-	0.00	0.06	0.00
Net Cash From Financing Activities	1.66	25	10	6.08
Net Cash From Continuing Financing Activities	1.66	25	10	6.08
Repayment of Debt	0.00	-17	-0.57	-2.34
Issuance of Debt	1.66	42	11	8.41
Cash Interest Paid	-	2.91	2.64	1.04
Cash Income Taxes Paid	-	0.02	0.01	0.01

This table details how cash moves in and out of Oxus Acquisition'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	-3.74	-1.35	0.60	-5.08	-2.41	-0.07	-0.46	0.01	-0.08	-0.07	0.42
Net Cash From Operating Activities	-4.85	-1.95	-6.77	-4.23	-3.27	-0.82	-1.37	-2.20	-0.19	-2.84	-0.12
Net Cash From Continuing Operating Activities	-4.85	-1.95	-6.77	-4.22	-3.36	-0.82	-1.37	-2.20	-0.19	-2.84	-0.12
Net Income / (Loss) Continuing Operations	-6.59	-6.66	-8.43	-6.30	-4.83	-5.77	-4.19	-4.60	-3.78	-6.41	-3.51
Consolidated Net Income / (Loss)	-6.59	-6.66	-8.43	-6.30	-4.83	-5.77	-4.19	-4.60	-3.78	-6.41	-3.51
Depreciation Expense	1.00	1.00	0.99	0.42	0.45	0.46	0.48	0.47	0.45	0.43	0.39
Amortization Expense	0.03	0.09	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.27	0.00
Non-Cash Adjustments To Reconcile Net Income	0.01	2.26	1.61	-0.30	-0.07	0.68	-0.17	0.11	-0.09	1.36	0.00
Changes in Operating Assets and Liabilities, net	0.71	1.35	-1.02	1.89	1.02	3.72	2.43	1.74	3.14	1.51	3.00
Net Cash From Investing Activities	-0.66	-0.95	-0.49	-0.72	-0.50	-0.20	-0.03	-0.00	-0.03	-0.00	0.00
Net Cash From Continuing Investing Activities	-0.66	-0.95	-0.49	-0.72	-0.50	-0.20	-0.03	-0.00	-0.04	-0.00	0.00
Purchase of Property, Plant & Equipment	-0.66	-0.95	-0.55	-0.51	-0.45	-0.13	-0.03	0.02	-	-	0.00
Net Cash From Financing Activities	1.77	1.54	7.85	-0.12	1.36	0.95	0.94	2.21	0.15	2.78	0.54
Net Cash From Continuing Financing Activities	1.77	1.54	7.85	-0.12	1.36	0.95	0.94	2.21	0.15	2.78	0.54
Repayment of Debt	-13	-0.32	-0.15	-0.12	-0.14	-	-0.15	-0.13	-0.13	-1.93	-5.40
Issuance of Debt	15	2.00	8.00	-	1.50	1.10	1.09	2.34	0.28	4.70	5.94
Cash Interest Paid	1.35	0.37	0.65	0.91	0.75	0.32	0.24	0.79	0.05	-0.05	0.81

This table presents Oxus Acquisition's assets and liabilities at the end of each period, using annual balance sheet 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
Total Assets	177	179	66	60	53
Total Current Assets	1.44	0.92	17	12	8.06
Cash & Equivalents	1.12	0.68	7.62	0.65	0.06
Accounts Receivable	-	-	1.78	1.97	2.65
Inventories, net	-	-	6.95	8.05	4.58
Prepaid Expenses	0.31	0.24	0.85	1.13	0.76
Plant, Property, & Equipment, net	0.00	0.00	0.00	46	44
Total Noncurrent Assets	176	179	49	2.47	0.63
Intangible Assets	-	-	0.00	0.32	0.30
Other Noncurrent Operating Assets	176	179	47	0.23	0.33
Total Liabilities & Shareholders' Equity	177	179	66	60	53
Total Liabilities	0.24	2.50	87	61	72
Total Current Liabilities	0.24	2.50	67	25	70
Short-Term Debt	0.00	1.50	48	0.00	5.69
Accounts Payable	0.00	-	11	12	16
Other Current Liabilities	-	0.16	8.43	14	48
Total Noncurrent Liabilities	0.00	0.00	20	35	1.99
Capital Lease Obligations	-	-	-	1.14	0.49
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	1.57	1.46	1.38
Other Noncurrent Operating Liabilities	-	-	1.75	7.61	0.12
Total Equity & Noncontrolling Interests	1.30	-1.58	-21	-0.70	-19
Total Preferred & Common Equity	1.30	-1.58	-21	-0.70	-19
Total Common Equity	1.30	-1.58	-21	-0.70	-19
Common Stock	1.71	0.00	44	90	91
Retained Earnings	-0.41	-1.58	-65	-91	-110

This table presents Oxus Acquisition'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	22	70	64	62	58	57	56	51
Total Current Assets	0.08	22	15	13	11	9.93	9.47	6.82
Cash & Equivalents	0.07	8.21	3.13	0.72	0.19	0.21	0.13	0.48
Accounts Receivable	-	4.77	2.55	2.91	1.78	2.32	2.57	1.74
Inventories, net	-	6.80	7.66	8.75	7.75	7.00	6.00	3.53
Prepaid Expenses	0.01	2.40	1.81	1.05	0.85	0.40	0.77	1.07
Plant, Property, & Equipment, net	0.00	46	46	46	45	45	44	44
Total Noncurrent Assets	22	2.19	2.38	2.42	2.55	2.57	2.50	0.62
Intangible Assets	-	-	0.21	0.25	0.33	0.35	0.38	0.30
Other Noncurrent Operating Assets	22	0.27	0.26	0.25	0.31	0.30	0.20	0.32
Total Liabilities & Shareholders' Equity	22	70	64	62	58	57	56	51
Total Liabilities	6.11	54	54	57	63	66	69	74
Total Current Liabilities	6.11	29	29	30	36	39	64	72
Short-Term Debt	3.35	13	5.80	5.72	-	0.00	10	5.21
Accounts Payable	-	7.24	6.86	8.60	13	14	14	17
Other Current Liabilities	0.06	8.45	16	16	23	25	40	49
Total Noncurrent Liabilities	0.00	25	25	27	27	27	5.13	1.80
Capital Lease Obligations	-	1.53	-	-	0.98	0.83	0.67	0.31
Noncurrent Deferred & Payable Income Tax Liabilities	-	1.57	1.57	1.57	1.46	1.46	1.46	1.38
Other Noncurrent Operating Liabilities	-	0.04	1.46	1.33	0.00	0.00	0.00	0.11
Total Equity & Noncontrolling Interests	-6.02	16	9.90	5.07	-4.83	-9.17	-13	-23
Total Preferred & Common Equity	-6.02	16	9.90	5.07	-4.83	-9.17	-13	-23
Total Common Equity	-6.02	16	9.90	5.07	-4.83	-9.17	-13	-23
Common Stock	0.00	90	90	90	90	90	90	91
Retained Earnings	-6.02	-74	-80	-85	-95	-100	-103	-113

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

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	21,862,500.00	6,561,968.00	-	21,378,890.00
DEI Adjusted Shares Outstanding	21,862,500.00	6,561,968.00	-	21,378,890.00
DEI Earnings Per Adjusted Shares Outstanding	-0.01	-4.19	-	-1.03
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	0.00%	-7.72%	8.43%
EBITDA Growth	0.00%	-471.14%	-7.80%	26.74%
EBIT Growth	0.00%	-611.78%	0.67%	25.13%
NOPAT Growth	0.00%	-591.09%	-2.28%	45.92%
Net Income Growth	0.00%	-8,982.73%	7.83%	25.07%
EPS Growth	0.00%	0.00%	51.17%	28.80%
Operating Cash Flow Growth	0.00%	-755.06%	16.19%	56.27%
Free Cash Flow Firm Growth	0.00%	0.00%	-106.19%	933.86%
Invested Capital Growth	0.00%	-80.01%	-17.85%	-152.72%
Revenue Q/Q Growth	0.00%	-4.22%	1,546.27%	187.60%
EBITDA Q/Q Growth	0.00%	6.15%	-218.04%	-48.70%
EBIT Q/Q Growth	0.00%	-16.96%	-265.20%	-41.98%
NOPAT Q/Q Growth	0.00%	-23.29%	-272.41%	13.91%
Net Income Q/Q Growth	0.00%	-36.99%	-1,407.34%	-3.51%
EPS Q/Q Growth	0.00%	0.00%	0.00%	10.10%
Operating Cash Flow Q/Q Growth	0.00%	-2.92%	-2,625.97%	-44.09%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	57.69%	26.04%
Invested Capital Q/Q Growth	0.00%	89.13%	-13.45%	-1,874.43%
Profitability Metrics	-	-	-	-
Gross Margin	0.00%	-4.35%	7.91%	5.70%
EBITDA Margin	0.00%	-54.96%	-64.21%	-27.16%
Operating Margin	0.00%	-66.53%	-73.75%	-17.93%
EBIT Margin	0.00%	-68.50%	-73.73%	-30.97%
Profit (Net Income) Margin	0.00%	-91.64%	-91.54%	-30.83%
Tax Burden Percent	100.00%	98.79%	99.47%	99.65%
Interest Burden Percent	10.48%	135.43%	124.81%	99.92%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-13.09%	-44.14%	-131.39%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-59.94%	-69.60%	-202.42%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-22.23%	273.94%	321.88%
Return on Equity (ROE)	-0.17%	-35.32%	229.80%	190.49%
Cash Return on Invested Capital (CROIC)	0.00%	120.28%	-24.55%	0.00%
Operating Return on Assets (OROA)	0.00%	-16.75%	-32.44%	-33.86%
Return on Assets (ROA)	0.00%	-22.41%	-40.27%	-33.72%
Return on Common Equity (ROCE)	0.00%	5.21%	229.80%	190.49%
Return on Equity Simple (ROE_SIMPLE)	19.10%	128.72%	3,639.56%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.02	-14	-14	-7.73
NOPAT Margin	0.00%	-46.57%	-51.62%	-12.55%
Net Nonoperating Expense Percent (NNEP)	-209.73%	46.85%	25.46%	71.03%
Return On Investment Capital (ROIC_SIMPLE)	-	-32.37%	-47.87%	59.20%
Cost of Revenue to Revenue	0.00%	104.35%	92.09%	83.33%
SG&A Expenses to Revenue	0.00%	62.18%	81.66%	23.63%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	62.18%	81.66%	29.89%
Earnings before Interest and Taxes (EBIT)	-2.89	-21	-20	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.89	-16	-18	-17
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	2.48	4.61	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.28	3.69	5.39	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	4.37	5.69	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.02	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.01	-3.02	-43.88	-0.32
Long-Term Debt to Equity	0.00	-0.77	-36.04	-0.03
Financial Leverage	0.00	0.37	-3.94	-1.59
Leverage Ratio	1.01	1.58	-5.71	-5.65
Compound Leverage Factor	0.11	2.13	-7.12	-5.65
Debt to Total Capital	0.84%	149.48%	102.33%	-47.36%
Short-Term Debt to Total Capital	0.84%	111.21%	18.29%	-43.61%
Long-Term Debt to Total Capital	0.00%	38.27%	84.04%	-3.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	100.05%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-0.89%	-49.48%	-2.33%	147.36%
Debt to EBITDA	-0.52	-3.91	-1.72	-0.37
Net Debt to EBITDA	-0.28	-3.45	-1.68	-0.37
Long-Term Debt to EBITDA	0.00	-1.00	-1.41	-0.03
Debt to NOPAT	-0.74	-4.62	-2.14	-0.80
Net Debt to NOPAT	-0.41	-4.07	-2.09	-0.79
Long-Term Debt to NOPAT	0.00	-1.18	-1.76	-0.06
Altman Z-Score	54.10	-2.37	-1.79	0.00
Noncontrolling Interest Sharing Ratio	100.08%	114.74%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	0.37	0.26	0.46	0.12
Quick Ratio	0.27	0.14	0.10	0.04
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	128	-7.94	30
Operating Cash Flow to CapEx	0.00%	-403.15%	-913.74%	-10,038.06%
Free Cash Flow to Firm to Interest Expense	0.00	17.63	-1.57	5.06
Operating Cash Flow to Interest Expense	0.00	-2.47	-2.98	-1.10
Operating Cash Flow Less CapEx to Interest Expense	0.00	-3.09	-3.31	-1.11
Efficiency Ratios	-	-	-	-
Asset Turnover	0.00	0.24	0.44	1.09
Accounts Receivable Turnover	0.00	0.00	14.79	26.68
Inventory Turnover	0.00	0.00	3.40	8.12
Fixed Asset Turnover	0.00	0.00	0.00	1.37
Accounts Payable Turnover	0.00	0.00	2.27	3.72
Days Sales Outstanding (DSO)	0.00	0.00	24.68	13.68
Days Inventory Outstanding (DIO)	0.00	0.00	107.38	44.93
Days Payable Outstanding (DPO)	0.00	0.00	160.57	98.11
Cash Conversion Cycle (CCC)	0.00	0.00	-28.51	-39.50
Capital & Investment Metrics	-	-	-	-
Invested Capital	178	36	29	-13
Invested Capital Turnover	0.00	0.28	0.86	10.47
Increase / (Decrease) in Invested Capital	0.00	-142	-6.34	-38
Enterprise Value (EV)	405	131	157	0.00
Market Capitalization	226	74	127	0.00
Book Value per Share	($0.07)	($3.25)	($0.03)	($0.90)
Tangible Book Value per Share	($0.07)	($3.55)	($0.14)	($0.91)
Total Capital	178	43	30	-13
Total Debt	1.50	64	31	6.18
Total Long-Term Debt	0.00	17	25	0.49
Net Debt	0.82	57	30	6.12
Capital Expenditures (CapEx)	0.00	4.47	1.65	0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.77	-9.76	-8.80	-56
Debt-free Net Working Capital (DFNWC)	-0.08	-2.14	-8.15	-56
Net Working Capital (NWC)	-1.58	-50	-14	-62
Net Nonoperating Expense (NNE)	-1.72	14	11	11
Net Nonoperating Obligations (NNO)	0.82	57	30	6.12
Total Depreciation and Amortization (D&A)	0.00	4.06	2.63	2.34
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-32.54%	-31.82%	-91.19%
Debt-free Net Working Capital to Revenue	0.00%	-7.14%	-29.46%	-91.09%
Net Working Capital to Revenue	0.00%	-167.16%	-49.18%	-100.34%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	($0.64)	($1.25)	($0.89)
Adjusted Weighted Average Basic Shares Outstanding	21.86M	9.08M	20.31M	21.43M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.25)	($0.89)
Adjusted Weighted Average Diluted Shares Outstanding	6.56M	21.38M	20.31M	21.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	6.56M	21.38M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-2.02	-14	-14	-6.32
Normalized NOPAT Margin	0.00%	-46.57%	-51.62%	-10.27%
Pre Tax Income Margin	0.00%	-92.76%	-92.02%	-30.94%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	0.00	-2.82	-4.03	-3.18
NOPAT to Interest Expense	0.00	-1.92	-2.82	-1.29
EBIT Less CapEx to Interest Expense	0.00	-3.44	-4.36	-3.20
NOPAT Less CapEx to Interest Expense	0.00	-2.53	-3.15	-1.30
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Oxus Acquisition'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	6,561,968.00	6,561,968.00	6,561,968.00	6,561,968.00	21,378,852.00	-	21,378,890.00	21,378,890.00	21,378,890.00	21,378,890.00	21,378,890.00
DEI Adjusted Shares Outstanding	6,561,968.00	6,561,968.00	6,561,968.00	6,561,968.00	21,378,852.00	-	21,378,890.00	21,378,890.00	21,378,890.00	21,378,890.00	21,378,890.00
DEI Earnings Per Adjusted Shares Outstanding	-1.00	-0.79	-1.47	-1.13	-0.22	-	-0.20	-0.29	-0.20	-0.34	-0.16
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-7.84%	58.92%	99.03%	-30.51%	-56.65%	-35.50%	-5.91%	71.97%	7.63%
EBITDA Growth	-231.21%	-248.95%	-47.98%	-5.81%	-26.84%	0.91%	67.78%	30.22%	24.49%	-7.79%	29.31%
EBIT Growth	-331.24%	-393.00%	-42.05%	2.62%	-9.40%	15.40%	65.27%	26.93%	21.77%	-9.79%	29.57%
NOPAT Growth	-326.30%	-323.51%	-52.78%	19.52%	18.13%	-2.39%	58.17%	35.33%	46.84%	38.59%	29.34%
Net Income Growth	-2,797.66%	-971.92%	-42.05%	24.14%	26.62%	13.38%	50.33%	26.96%	21.76%	-11.18%	16.12%
EPS Growth	0.00%	0.00%	10.91%	137.66%	62.30%	61.90%	59.18%	-27.59%	21.74%	12.20%	20.00%
Operating Cash Flow Growth	-1,695.92%	-35.50%	-14.45%	20.03%	32.59%	57.97%	79.72%	48.11%	94.17%	-246.43%	91.05%
Free Cash Flow Firm Growth	31,540.80%	0.00%	-62.57%	-114.09%	-111.36%	-97.77%	166.61%	173.65%	281.06%	385.23%	69.33%
Invested Capital Growth	-89.31%	-80.01%	166.54%	110.60%	79.52%	-17.85%	-53.43%	-53.21%	-97.81%	-152.72%	-184.62%
Revenue Q/Q Growth	19.83%	-117.10%	1,295.57%	-35.12%	50.07%	-122.42%	-55.42%	-53.04%	118.94%	82.53%	-72.10%
EBITDA Q/Q Growth	37.94%	22.07%	-178.30%	21.39%	25.60%	15.31%	55.87%	-10.86%	19.49%	-78.20%	71.06%
EBIT Q/Q Growth	31.47%	15.44%	-125.66%	25.53%	23.01%	12.77%	50.49%	-9.28%	17.58%	-71.68%	68.24%
NOPAT Q/Q Growth	31.41%	-2.06%	-54.48%	25.58%	30.22%	-27.63%	36.88%	-15.05%	42.64%	-47.44%	27.37%
Net Income Q/Q Growth	20.68%	-1.09%	-26.67%	25.31%	23.27%	-19.32%	27.37%	-9.85%	17.81%	-69.54%	45.20%
EPS Q/Q Growth	20.78%	-3.28%	22.22%	159.18%	-179.31%	-4.35%	75.61%	205.00%	-185.71%	-300.00%	77.78%
Operating Cash Flow Q/Q Growth	8.47%	59.76%	-247.18%	37.45%	22.85%	74.92%	-67.51%	-60.06%	91.33%	-1,389.61%	95.67%
Free Cash Flow Firm Q/Q Growth	-0.62%	-9.56%	-123.64%	33.72%	19.84%	117.78%	195.22%	-26.71%	97.07%	13.79%	3.03%
Invested Capital Q/Q Growth	14.38%	89.13%	26.15%	-22.83%	-2.50%	-13.45%	-16.09%	-22.46%	-95.43%	-1,874.43%	-34.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-6.17%	0.00%	1.54%	4.12%	8.28%	0.00%	13.14%	7.79%	7.19%	4.00%	11.39%
EBITDA Margin	-43.93%	0.00%	-46.61%	-56.47%	-28.00%	0.00%	-34.64%	-61.09%	-22.47%	-21.93%	-22.75%
Operating Margin	-57.25%	0.00%	-44.16%	-50.65%	-23.55%	0.00%	-42.61%	-50.79%	-13.30%	-10.75%	-27.98%
EBIT Margin	-57.20%	0.00%	-53.40%	-61.29%	-31.44%	0.00%	-42.77%	-69.43%	-26.14%	-24.58%	-27.99%
Profit (Net Income) Margin	-85.24%	0.00%	-53.40%	-61.47%	-31.43%	0.00%	-61.17%	-69.61%	-26.13%	-24.27%	-47.67%
Tax Burden Percent	100.00%	94.99%	100.00%	100.22%	100.02%	97.47%	100.00%	100.31%	100.00%	98.76%	100.00%
Interest Burden Percent	149.03%	187.55%	100.00%	100.07%	99.94%	187.13%	143.01%	99.95%	99.98%	99.97%	170.32%
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)	-12.90%	0.00%	-28.73%	-45.10%	-25.17%	0.00%	-43.43%	-31.24%	-11.57%	-78.76%	-757.24%
ROIC Less NNEP Spread (ROIC-NNEP)	-265.73%	0.00%	-53.60%	-66.69%	-39.56%	0.00%	-51.33%	-40.24%	-23.06%	-106.68%	-770.71%
Return on Net Nonoperating Assets (RNNOA)	-3.83%	0.00%	-46.27%	-62.52%	-61.40%	0.00%	-245.13%	-2,753.93%	123.94%	169.63%	860.60%
Return on Equity (ROE)	-16.73%	0.00%	-75.00%	-107.62%	-86.58%	0.00%	-288.56%	-2,785.17%	112.37%	90.87%	103.36%
Cash Return on Invested Capital (CROIC)	0.00%	120.28%	-141.66%	-129.12%	-111.02%	-24.55%	38.06%	32.47%	139.34%	0.00%	0.00%
Operating Return on Assets (OROA)	-17.96%	0.00%	-33.54%	-46.93%	-30.18%	0.00%	-31.78%	-25.63%	-9.47%	-26.88%	-31.78%
Return on Assets (ROA)	-26.77%	0.00%	-33.54%	-47.07%	-30.17%	0.00%	-45.45%	-25.70%	-9.46%	-26.54%	-54.13%
Return on Common Equity (ROCE)	0.60%	0.00%	-27.91%	-21.23%	4.01%	0.00%	-288.56%	-2,785.17%	112.37%	90.87%	103.36%
Return on Equity Simple (ROE_SIMPLE)	333.05%	0.00%	-185.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.10	-3.16	-4.88	-3.63	-2.53	-3.24	-2.04	-2.35	-1.35	-1.99	-1.44
NOPAT Margin	-40.08%	0.00%	-30.91%	-35.45%	-16.49%	0.00%	-29.83%	-35.55%	-9.31%	-7.52%	-19.58%
Net Nonoperating Expense Percent (NNEP)	252.82%	12.12%	24.87%	21.60%	14.39%	5.83%	7.90%	9.00%	11.49%	27.92%	13.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.32%	-9.20%	-9.63%	-7.36%	-10.84%	-9.69%	-14.33%	-155.24%	15.22%	8.40%
Cost of Revenue to Revenue	106.17%	0.00%	90.57%	91.85%	80.44%	0.00%	86.86%	100.99%	80.68%	81.55%	88.61%
SG&A Expenses to Revenue	44.50%	0.00%	45.69%	54.77%	31.83%	0.00%	55.76%	37.91%	20.50%	19.92%	39.36%
R&D to Revenue	2.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.19%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	51.08%	0.00%	52.06%	58.63%	34.83%	0.00%	55.76%	62.84%	23.63%	24.72%	39.36%
Earnings before Interest and Taxes (EBIT)	-4.42	-3.74	-8.43	-6.28	-4.83	-3.16	-2.93	-4.59	-3.78	-6.49	-2.06
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.39	-2.64	-7.36	-5.79	-4.30	-2.62	-2.37	-4.04	-3.25	-5.79	-1.68
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.37	0.00	24.12	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.69	0.00	42.18	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.31	2.48	1.34	0.00	3.05	4.61	2.91	0.00	0.00	0.00	0.00
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)	5.18	3.69	1.50	0.00	4.48	5.39	7.90	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	3.11	4.37	2.34	0.00	3.76	5.69	3.45	0.00	0.00	0.00	0.00
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)	0.00	1.02	0.00	0.00	0.00	0.00	13.19	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.22	-3.02	2.27	2.81	5.79	-43.88	-5.37	-2.79	-1.07	-0.32	-0.24
Long-Term Debt to Equity	0.00	-0.77	1.46	2.22	4.66	-36.04	-5.37	-2.79	-0.28	-0.03	-0.01
Financial Leverage	0.01	0.37	0.86	0.94	1.55	-3.94	4.78	68.44	-5.37	-1.59	-1.12
Leverage Ratio	1.04	1.58	2.76	3.22	4.06	-5.71	11.32	165.30	-15.00	-5.65	-3.97
Compound Leverage Factor	1.55	2.96	2.76	3.22	4.06	-10.68	16.19	165.22	-15.00	-5.65	-6.77
Debt to Total Capital	17.77%	149.48%	69.45%	73.75%	85.28%	102.33%	122.91%	155.95%	1,591.91%	-47.36%	-32.14%
Short-Term Debt to Total Capital	17.77%	111.21%	24.74%	15.38%	16.62%	18.29%	0.00%	0.00%	1,169.42%	-43.61%	-30.32%
Long-Term Debt to Total Capital	0.00%	38.27%	44.71%	58.36%	68.66%	84.04%	122.91%	155.95%	422.49%	-3.75%	-1.82%
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	114.18%	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	-31.94%	-49.48%	30.55%	26.25%	14.72%	-2.33%	-22.91%	-55.95%	-1,491.91%	147.36%	132.14%
Debt to EBITDA	-0.19	-3.91	-1.95	-1.45	-1.46	-1.72	-1.45	-2.08	-1.23	-0.37	-0.34
Net Debt to EBITDA	-0.19	-3.45	-1.52	-1.29	-1.43	-1.68	-1.44	-2.06	-1.22	-0.37	-0.31
Long-Term Debt to EBITDA	0.00	-1.00	-1.26	-1.15	-1.18	-1.41	-1.45	-2.08	-0.33	-0.03	-0.02
Debt to NOPAT	-0.30	-4.62	-2.35	-1.88	-2.07	-2.14	-2.26	-2.52	-1.54	-0.80	-0.77
Net Debt to NOPAT	-0.29	-4.07	-1.83	-1.67	-2.02	-2.09	-2.25	-2.50	-1.53	-0.79	-0.71
Long-Term Debt to NOPAT	0.00	-1.18	-1.51	-1.49	-1.66	-1.76	-2.26	-2.52	-0.41	-0.06	-0.04
Altman Z-Score	7.17	-1.53	-1.15	0.00	-0.57	-0.84	-0.82	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	103.57%	0.00%	62.78%	80.27%	104.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.01	0.26	0.77	0.53	0.44	0.46	0.29	0.25	0.15	0.12	0.10
Quick Ratio	0.01	0.14	0.45	0.20	0.12	0.10	0.06	0.06	0.04	0.04	0.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	154	139	-33	-22	-17	3.11	22	16	32	36	37
Operating Cash Flow to CapEx	-732.20%	-205.33%	-1,388.86%	-823.23%	-719.68%	-619.86%	-5,331.75%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	70.99	79.90	-22.54	-19.84	-14.47	2.40	17.39	13.07	17.05	21.90	25.58
Operating Cash Flow to Interest Expense	-2.24	-1.12	-4.64	-3.85	-2.71	-0.63	-1.09	-1.79	-0.10	-1.73	-0.08
Operating Cash Flow Less CapEx to Interest Expense	-2.54	-1.67	-4.98	-4.32	-3.08	-0.73	-1.11	-1.77	-0.10	-1.73	-0.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.24	0.63	0.77	0.96	0.44	0.74	0.37	0.36	1.09	1.14
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	14.79	14.60	9.17	7.81	26.68	35.25
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	3.40	5.53	2.71	2.60	8.12	9.20
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	1.05	0.49	0.47	1.37	1.40
Accounts Payable Turnover	0.00	0.00	7.72	8.70	0.00	2.27	3.97	1.90	1.69	3.72	3.41
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	24.68	24.99	39.80	46.75	13.68	10.35
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	107.38	65.95	134.79	140.50	44.93	39.70
Days Payable Outstanding (DPO)	0.00	0.00	47.25	41.95	0.00	160.57	91.92	191.72	215.55	98.11	106.98
Cash Conversion Cycle (CCC)	0.00	0.00	-47.25	-41.95	0.00	-28.51	-0.98	-17.13	-28.30	-39.50	-56.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	19	36	45	35	34	29	21	16	0.74	-13	-18
Invested Capital Turnover	0.32	0.28	0.93	1.27	1.53	0.86	1.46	0.88	1.24	10.47	38.67
Increase / (Decrease) in Invested Capital	-157	-142	28	18	15	-6.34	-24	-18	-33	-38	-39
Enterprise Value (EV)	97	131	67	0.00	151	157	165	0.00	0.00	0.00	0.00
Market Capitalization	72	74	38	0.00	122	127	139	0.00	0.00	0.00	0.00
Book Value per Share	($0.92)	($3.25)	$2.47	$0.46	$0.24	($0.03)	($0.23)	($0.43)	($0.60)	($0.90)	($1.06)
Tangible Book Value per Share	($0.92)	($3.55)	$2.18	$0.36	$0.14	($0.14)	($0.33)	($0.53)	($0.71)	($0.91)	($1.07)
Total Capital	19	43	53	38	34	30	21	16	0.87	-13	-17
Total Debt	3.35	64	37	28	29	31	26	26	14	6.18	5.52
Total Long-Term Debt	0.00	17	24	22	24	25	26	26	3.67	0.49	0.31
Net Debt	3.28	57	29	25	29	30	26	25	14	6.12	5.04
Capital Expenditures (CapEx)	0.66	0.95	0.49	0.51	0.45	0.13	0.03	-0.02	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2.74	-9.76	-1.72	-11	-12	-8.80	-25	-30	-45	-56	-60
Debt-free Net Working Capital (DFNWC)	-2.67	-2.14	6.49	-7.71	-11	-8.15	-25	-29	-44	-56	-60
Net Working Capital (NWC)	-6.02	-50	-6.63	-14	-17	-14	-25	-29	-55	-62	-65
Net Nonoperating Expense (NNE)	3.49	3.50	3.55	2.67	2.30	2.53	2.15	2.25	2.43	4.42	2.07
Net Nonoperating Obligations (NNO)	3.28	57	29	25	29	30	26	25	14	6.12	5.04
Total Depreciation and Amortization (D&A)	1.02	1.09	1.07	0.49	0.53	0.54	0.56	0.55	0.53	0.70	0.39
Debt-free, Cash-free Net Working Capital to Revenue	-8.76%	-32.54%	-6.02%	-33.40%	-29.60%	-31.82%	-53.30%	-133.12%	-208.51%	-91.19%	-97.13%
Debt-free Net Working Capital to Revenue	-8.54%	-7.14%	22.65%	-23.76%	-27.80%	-29.46%	-52.90%	-132.19%	-207.91%	-91.09%	-96.35%
Net Working Capital to Revenue	-19.24%	-167.16%	-23.15%	-41.65%	-42.08%	-49.18%	-52.90%	-132.19%	-255.33%	-100.34%	-104.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.28)	($0.63)	($0.49)	($0.29)	($0.23)	($0.24)	($0.20)	$0.21	($0.18)	($0.72)	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	6.56M	10.75M	17.08M	21.38M	21.38M	20.31M	21.38M	21.41M	21.46M	21.43M	21.43M
Adjusted Diluted Earnings per Share	$0.00	($0.63)	($0.49)	($0.29)	($0.23)	($0.24)	($0.20)	$0.21	($0.18)	($0.72)	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	6.56M	10.75M	17.08M	21.38M	21.38M	20.31M	21.38M	21.41M	21.46M	21.43M	21.43M
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	6.56M	21.38M	21.38M	21.38M	21.38M	0.00	21.38M	21.38M	21.46M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-3.10	-3.16	-4.88	-3.63	-2.53	-3.24	-2.04	-2.35	-1.35	-1.99	-1.44
Normalized NOPAT Margin	-40.08%	0.00%	-30.91%	-35.45%	-16.49%	0.00%	-29.83%	-35.55%	-9.31%	-7.52%	-19.58%
Pre Tax Income Margin	-85.24%	0.00%	-53.40%	-61.33%	-31.42%	0.00%	-61.17%	-69.40%	-26.13%	-24.58%	-47.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.04	-2.15	-5.78	-5.71	-4.00	-2.44	-2.33	-3.74	-2.04	-3.95	-1.42
NOPAT to Interest Expense	-1.43	-1.82	-3.35	-3.31	-2.10	-2.50	-1.62	-1.91	-0.73	-1.21	-1.00
EBIT Less CapEx to Interest Expense	-2.35	-2.69	-6.11	-6.18	-4.38	-2.54	-2.35	-3.72	-2.04	-3.95	-1.42
NOPAT Less CapEx to Interest Expense	-1.73	-2.36	-3.68	-3.77	-2.48	-2.60	-1.64	-1.90	-0.73	-1.21	-1.00
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%

Financials Breakdown Chart

Key Financial Trends

Borealis Foods (NASDAQ: BRLS) continues to grow revenue, but profitability and liquidity remain major concerns. Over the last four years, the company has shown meaningful top-line expansion at times, but it has not translated that growth into sustained earnings or positive operating cash flow. The balance sheet also shows heavy leverage and negative equity, which raises financial risk for retail investors.

Revenue has improved sharply from the weak 2023 period. In Q1 2026, revenue was $7.4 million, up from $6.8 million in Q1 2025 and far above the deeply negative/erratic revenue reported in late 2023 and early 2024 restated periods.
Gross profit turned positive and has generally stabilized at low but positive levels. Q1 2026 gross profit was $839 thousand, suggesting the company is at least covering direct production costs on a gross basis.
Operating cash flow improved materially versus the worst prior quarters. Q1 2026 operating cash flow was only a small outflow of $123 thousand, better than the multi-million-dollar outflows seen in many 2024 quarters.
Interest-bearing debt has been actively managed through repayments and refinancing. The company regularly repays and re-raises debt, which indicates ongoing access to financing and active liability management.
Quarterly revenue has been volatile. Revenue ranged from over $26.4 million in Q4 2025 to $7.4 million in Q1 2026, showing uneven demand or seasonality.
EPS remains negative on a GAAP basis. Q1 2026 basic and diluted EPS were both -$0.16, even after a better operating quarter than some prior periods.
The company carries a large inventory and receivables base relative to cash. At Q1 2026, inventories were $3.5 million and receivables were $1.7 million, while cash was only about $480 thousand.
BRLS remains unprofitable at the operating and net-income levels. Q1 2026 operating loss was $2.1 million and net loss was $3.5 million.
Interest expense is a major drag on earnings. Q1 2026 interest expense was $1.45 million, which is very large relative to gross profit and makes it harder to reach profitability.
The balance sheet is highly leveraged and shows negative equity. As of Q1 2026, total liabilities were $73.6 million versus total assets of $51.0 million, resulting in negative shareholders’ equity of $22.7 million.
Liquidity is tight. Cash and equivalents were only $480 thousand in Q1 2026, while current liabilities were $71.8 million, creating a significant short-term funding risk.
Working capital remains deeply negative. Current assets of $6.8 million were far below current liabilities of $71.8 million, indicating the company depends heavily on ongoing financing and vendor support.
The company has not yet shown a durable path to self-funded growth. Historically, BRLS has relied on debt issuance and balance-sheet support to offset operating losses and cash burn.

Bottom line: Borealis Foods has improved its revenue and gross margin profile compared with its weakest periods, but the business still looks financially fragile. Until the company can demonstrate sustained operating profitability and better liquidity, the stock is likely to remain high risk.

07/19/26 05:20 PM ETAI Generated. May Contain Errors.

Oxus Acquisition Financials - Frequently Asked Questions

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

Oxus Acquisition's net income appears to be on an upward trend, with a most recent value of -$18.98 million in 2025, rising from -$302.54 thousand in 2022. The previous period was -$25.33 million in 2024.

Oxus Acquisition's total operating income in 2025 was -$11.04 million, based on the following breakdown:

Total Gross Profit: $3.51 million
Total Operating Expenses: $18.40 million

Over the last 3 years, Oxus Acquisition's total revenue changed from $0.00 in 2022 to $61.56 million in 2025, a change of 6,155,519,900.0%.

Oxus Acquisition's total liabilities were at $71.80 million at the end of 2025, a 18.3% increase from 2024, and a 30,448.2% increase since 2021.

In the past 4 years, Oxus Acquisition's cash and equivalents has ranged from $63.86 thousand in 2025 to $7.62 million in 2023, and is currently $63.86 thousand as of their latest financial filing in 2025.

Over the last 3 years, Oxus Acquisition's book value per share changed from -0.07 in 2022 to -0.90 in 2025, a change of 1,137.8%.

Related Companies

Financial statements for NASDAQ:OXUS last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Oxus Acquisition (OXUS) Financials

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Oxus Acquisition (OXUS) Financials

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