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: $14.55 million

Oxus Acquisition (OXUSW) Financials

$0.04 0.00 (0.00%)

As of 10/15/2026

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	-25	-19
Consolidated Net Income / (Loss)	-0.30	-27	-25	-19
Net Income / (Loss) Continuing Operations	-0.30	-27	-25	-19
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	28	30
Operating Revenue	-	30	28	30
Total Cost of Revenue	0.00	31	25	27
Operating Cost of Revenue	-	31	25	27
Total Operating Expenses	2.89	19	23	15
Selling, General & Admin Expense	2.89	19	23	15
Total Other Income / (Expense), net	2.58	-7.87	-5.06	-8.01
Interest Expense	-	7.28	5.06	5.99
Other Income / (Expense), net	0.00	-0.59	0.00	-2.02
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	2.00	1.71
Changes in Operating Assets and Liabilities, net	0.78	2.85	5.61	8.33
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
Goodwill	-	-	1.92	1.92	0.00
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
Long-Term Debt	-	-	17	25	0.00
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’ Q1 2026 results show modest operating improvement, but the company remains unprofitable and financially strained. Revenue increased to $7.4 million from $6.8 million in Q1 2025, a gain of approximately 8%. However, revenue was substantially below Q4 2025’s $26.4 million, highlighting significant quarter-to-quarter volatility.

Gross profit declined to $838,891 from $899,802 year over year. As a result, gross margin fell to approximately 11.4% from 13.1%. Despite the weaker margin, lower selling, general and administrative expenses helped narrow the operating loss to $2.1 million from $2.9 million in Q1 2025.

Revenue growth resumed year over year: Q1 2026 revenue rose approximately 8% from the restated Q1 2025 level.
Operating losses narrowed: The operating loss improved to $2.1 million from $2.9 million, primarily because SG&A expense declined to $2.9 million from $3.8 million.
Net loss improved: Net loss attributable to common shareholders decreased to $3.5 million, or $0.16 per share, compared with a $4.2 million loss, or $0.20 per share, in Q1 2025.
Operating cash burn moderated: Cash used in operating activities was $122,872 in Q1 2026, substantially better than the $1.4 million used in Q1 2025 and the $2.8 million used in Q4 2025.
Working-capital changes supported cash flow: Changes in operating assets and liabilities provided approximately $3.0 million in Q1 2026, helping offset the company’s net loss.
Cash increased during the quarter: Cash and equivalents rose to approximately $480,000 from $129,000 at Q3 2025, but the increase was largely supported by financing activity rather than internally generated cash.
Debt refinancing activity was significant: Borealis issued $5.9 million of debt and repaid $5.4 million during Q1 2026, producing only $539,000 of net financing cash inflow.
Gross margins remain thin: The Q1 2026 gross margin of approximately 11.4% leaves limited room to absorb overhead, interest expense and other operating costs.
Interest expense continues to pressure results: Q1 interest expense was $1.5 million, while cash interest paid was $808,850. The company remains dependent on financing despite continued operating losses.
Liquidity and solvency are major risks: Current assets of $6.8 million were far below current liabilities of $71.8 million, and shareholders’ equity was negative $22.7 million. Accounts payable and other current liabilities totaled approximately $66.7 million, creating substantial refinancing and payment risk.

The balance sheet has deteriorated considerably. Shareholders’ equity declined from positive $5.1 million in Q3 2024 to negative $22.7 million by Q1 2026, reflecting accumulated losses. Cash remains limited relative to the company’s obligations, and the improvement in operating cash flow will need to continue before Borealis can reduce its reliance on debt financing.

Overall, the quarter contained some encouraging signs—higher year-over-year revenue, lower operating expenses and reduced cash burn—but these improvements were not enough to establish profitability or financial stability. Retail investors should closely monitor gross margins, operating cash flow, debt maturities and the company’s ability to address its negative working capital and shareholders’ deficit.

10/17/26 12:18 AM 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 fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Oxus Acquisition's net income appears to be on a downward trend, with a most recent value of -$18.98 million in 2025, falling 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: $14.55 million

Over the last 3 years, Oxus Acquisition's total revenue changed from $0.00 in 2022 to $30.08 million in 2025, a change of 3,007,957,100.0%.

In the past 10 quarters, Oxus Acquisition's cash and equivalents has ranged from $70.19 thousand in Q3 2023 to $8.21 million in Q1 2024, and is currently $479.86 thousand as of their latest financial filing in Q1 2026.

Oxus Acquisition had total debt of $6.18 million at the end of 2025, a 79.8% decrease from 2024, and a 312.0% increase since 2022.

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%.

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

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Oxus Acquisition (OXUSW) Financials

Financials Breakdown Chart

Key Financial Trends

Oxus Acquisition Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Oxus Acquisition (OXUSW) Financials

Annual Income Statements for Oxus Acquisition

Quarterly Income Statements for Oxus Acquisition

Annual Cash Flow Statements for Oxus Acquisition

Quarterly Cash Flow Statements for Oxus Acquisition

Annual Balance Sheets for Oxus Acquisition

Quarterly Balance Sheets for Oxus Acquisition

Annual Metrics And Ratios for Oxus Acquisition

Quarterly Metrics And Ratios for Oxus Acquisition

Financials Breakdown Chart

Key Financial Trends

Oxus Acquisition Financials - Frequently Asked Questions

When does Oxus Acquisition's financial year end?

How has Oxus Acquisition's net income changed over the last 3 years?

What is Oxus Acquisition's operating income?

How has Oxus Acquisition's revenue changed over the last 3 years?

How much cash does Oxus Acquisition have?

How much debt does Oxus Acquisition have?

How has Oxus Acquisition's book value per share changed over the last 3 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools