What is Lendway's operating income?

Lendway's total operating income in 2024 was -$6.72 million, based on the following breakdown: Total Gross Profit: $6.51 million Total Operating Expenses: $13.23 million

Lendway (TULP) Financials

$3.82 0.00 (0.00%)

As of 07/24/2026

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Annual Income Statements for Lendway

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	0.21	1.53	-1.29	-0.64	1.40	-5.58	-4.62	-3.53	10	2.41	-5.74
Consolidated Net Income / (Loss)	0.21	1.53	-1.29	-0.64	1.40	-5.58	-4.62	-3.53	10	2.41	-6.68
Net Income / (Loss) Continuing Operations	0.21	1.53	-1.29	-0.64	1.40	-5.58	-4.62	-3.53	-2.29	-3.02	-6.90
Total Pre-Tax Income	0.51	2.54	-2.10	-0.91	1.88	-6.00	-4.81	-3.49	-2.29	-3.00	-9.23
Total Operating Income	0.47	2.46	-2.08	-0.91	1.83	-6.11	-4.84	-4.79	-2.44	-3.52	-6.72
Total Gross Profit	12	13	7.06	8.40	13	4.34	2.86	3.23	-0.00	0.00	6.51
Total Revenue	26	28	25	26	33	22	17	20	-0.00	0.00	38
Operating Revenue	26	28	25	26	33	22	17	20	-0.00	0.00	38
Total Cost of Revenue	15	16	18	18	21	17	14	16	0.00	0.00	31
Operating Cost of Revenue	15	16	18	18	21	17	14	16	-	0.00	31
Total Operating Expenses	11	10	9.14	9.31	11	10	7.70	8.02	2.44	3.52	13
Selling, General & Admin Expense	9.79	8.58	7.95	7.59	8.06	6.03	6.88	6.99	2.44	3.52	13
Total Other Income / (Expense), net	0.04	0.08	-0.02	-0.00	0.05	0.11	-0.13	1.30	0.15	0.52	-2.51
Interest & Investment Income	-	-	-	-	-	-	-0.16	-	0.15	0.52	-2.97
Other Income / (Expense), net	0.04	0.08	-0.02	-0.00	0.05	0.11	0.07	0.24	-	0.00	0.46
Income Tax Expense	0.30	1.01	-0.81	-0.27	0.48	-0.42	-0.19	0.04	0.01	0.02	-2.33
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	-	12	5.44	0.22
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	-	-	-	0.00	-0.93
Basic Earnings per Share	$0.02	$0.13	($0.11)	($0.06)	$0.12	($3.27)	($2.66)	($2.01)	$5.61	$1.36	($3.24)
Weighted Average Basic Shares Outstanding	12.64M	12.04M	11.63M	11.72M	11.78M	1.71M	1.73M	1.76M	1.79M	1.78M	1.77M
Diluted Earnings per Share	$0.02	$0.13	($0.11)	($0.06)	$0.12	($3.27)	($2.66)	($2.01)	$5.61	$1.36	($3.24)
Weighted Average Diluted Shares Outstanding	12.87M	12.22M	11.63M	11.72M	12.01M	1.71M	1.73M	1.76M	1.79M	1.78M	1.77M
Weighted Average Basic & Diluted Shares Outstanding	12.21M	11.61M	11.66M	11.96M	11.95M	12.11M	1.75M	1.79M	1.79M	1.78M	1.77M

This table shows Lendway'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	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	9/30/2025	12/31/2024	3/31/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-2.07	1.70	-1.16	1.23	-1.13	-4.47	-2.85	-2.94	0.45	-2.28	-0.77
Consolidated Net Income / (Loss)	-2.07	3.34	-1.41	1.11	-1.39	-5.83	-3.37	-3.34	0.63	-2.66	-0.75
Net Income / (Loss) Continuing Operations	-1.51	-0.56	-1.49	-0.88	-1.46	-3.23	-3.37	-3.36	0.62	-2.66	-0.75
Total Pre-Tax Income	-1.52	-0.53	-1.83	-1.08	-2.19	-4.27	-4.09	-4.40	0.77	-3.33	-1.16
Total Operating Income	-1.63	-0.70	-1.64	-0.12	-1.35	-3.75	-3.04	-3.89	1.43	-2.29	-0.02
Total Gross Profit	0.00	-	1.74	3.98	1.44	-0.80	-0.06	-0.58	3.89	0.48	2.86
Total Revenue	0.00	-	8.03	17	6.63	6.33	5.15	6.19	12	6.74	14
Operating Revenue	-	-	8.03	17	6.63	6.33	5.15	6.19	12	6.74	14
Total Cost of Revenue	0.00	-	6.29	13	5.19	7.13	5.21	6.77	8.55	6.26	12
Operating Cost of Revenue	-	-	6.29	13	5.19	7.13	5.21	6.77	8.55	6.26	12
Total Operating Expenses	1.63	0.70	3.39	4.10	2.79	2.95	2.98	3.31	2.46	2.77	2.88
Selling, General & Admin Expense	1.63	0.70	3.39	4.10	2.79	2.95	2.98	3.31	2.46	2.77	2.88
Total Other Income / (Expense), net	-0.11	0.87	-0.19	0.96	-0.84	-3.15	-1.04	-0.52	-0.66	-1.04	-1.14
Interest & Investment Income	-	-	-0.23	-	-0.80	-	-0.82	-0.98	-0.97	-1.09	-1.13
Other Income / (Expense), net	0.00	-	0.04	0.00	-0.04	0.42	-0.22	0.46	0.31	0.05	-0.00
Income Tax Expense	-0.01	0.02	-0.35	-0.20	-0.74	-1.05	-0.72	-1.05	0.16	-0.66	-0.41
Net Income / (Loss) Discontinued Operations	-0.33	3.20	0.07	0.06	0.07	0.02	0.00	0.02	0.01	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	-0.25	-0.07	-0.27	-0.37	-0.51	-0.40	0.18	-0.39	0.01
Basic Earnings per Share	-	-	($0.67)	($0.42)	-	-	-	($1.66)	$0.25	($1.29)	($0.43)
Weighted Average Basic Shares Outstanding	1.79M	1.78M	1.74M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M
Diluted Earnings per Share	$0.63	($0.17)	($0.67)	($0.42)	($0.64)	($1.45)	($1.61)	($1.66)	$0.25	($1.29)	($0.43)
Weighted Average Diluted Shares Outstanding	1.79M	1.78M	1.74M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M	1.77M
Weighted Average Basic & Diluted Shares Outstanding	1.79M	1.78M	1.77M	1.77M	1.77M	1.77M	1.77M	-	-	1.77M	4.77M

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-15	1.29	3.74	-7.57	5.47	-2.65	-2.92	-3.28	23	1.55	-14
Net Cash From Operating Activities	-1.65	3.22	-3.99	1.78	7.11	-2.31	-1.58	-3.00	11	0.52	-4.05
Net Cash From Continuing Operating Activities	-1.65	3.22	-3.99	1.78	7.11	-2.31	-4.43	-3.92	-2.84	-2.91	-4.12
Net Income / (Loss) Continuing Operations	0.21	1.53	-1.29	-0.64	1.40	-5.58	-4.62	-3.53	-2.29	0.00	0.00
Depreciation Expense	1.18	1.16	1.45	1.35	1.17	1.65	0.48	0.06	0.00	0.01	2.64
Amortization Expense	-	-	-	-	-	-	-	-	-	0.00	0.10
Non-Cash Adjustments To Reconcile Net Income	0.38	0.34	0.17	0.39	0.38	2.44	0.10	-0.74	0.12	-2.98	-3.78
Changes in Operating Assets and Liabilities, net	-3.42	0.19	-4.32	0.68	4.17	-0.82	-0.39	0.29	-0.26	0.07	-3.07
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	-	-	14	3.42	0.07
Net Cash From Investing Activities	-11	-0.21	8.04	-1.16	-1.30	-0.40	0.14	-0.09	-0.03	1.51	-35
Net Cash From Continuing Investing Activities	-11	-0.21	8.04	-1.16	-1.30	-0.40	0.43	-0.09	0.00	1.53	-35
Purchase of Property, Plant & Equipment	-0.43	-0.44	-1.47	-1.16	-1.34	-5.38	-0.06	-0.11	0.00	-0.04	-1.17
Acquisitions	-	-	-	-	-	-	-	-	-	0.00	-34
Purchase of Investments	-12	-5.44	-	-	-	-	-	-	0.00	-0.01	0.00
Divestitures	-	-	-	-	-	0.00	0.10	-	-	1.58	0.00
Other Investing Activities, net	-0.54	-	-	-	-	-	0.20	-	-	0.00	0.20
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-	-	-	-0.03	-0.02	0.00
Net Cash From Financing Activities	-2.21	-1.73	-0.31	-8.19	-0.34	0.06	1.06	-0.19	0.04	-0.47	25
Net Cash From Continuing Financing Activities	-2.21	-1.73	-0.31	-8.19	-0.34	0.06	1.07	-0.19	0.04	-0.47	25
Repayment of Debt	-	-	-	-	-	-	-	-	-	0.00	-9.63
Repurchase of Common Equity	-2.45	-1.76	-0.31	-0.02	-0.38	-0.04	-0.00	-0.20	0.00	-0.48	0.00
Issuance of Debt	-	-	-	-	-	0.00	1.05	-	-	0.00	17
Issuance of Common Equity	0.22	0.05	0.05	0.00	0.05	0.11	0.02	0.03	0.04	0.01	0.00
Other Financing Activities, net	0.02	-0.01	-0.04	-	-	-	-	-	-	0.00	18
Cash Interest Paid	-	-	-	-	-	-	-	-	-	0.00	1.63
Cash Income Taxes Paid	0.48	0.65	0.24	0.74	-0.04	0.01	-0.11	0.23	0.46	0.09	0.69

This table details how cash moves in and out of Lendway'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	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	9/30/2025	12/31/2024	3/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.15	1.04	-11	-3.29	-0.39	0.43	0.93	-0.90	-0.45	-0.32
Net Cash From Operating Activities	2.42	1.11	1.47	3.51	-7.56	-1.48	-9.93	0.89	1.74	0.28
Net Cash From Continuing Operating Activities	-3.00	-0.58	1.38	-10	6.03	-1.46	-9.93	0.89	1.74	0.28
Net Income / (Loss) Continuing Operations	-1.93	0.32	-1.41	-0.82	5.42	-3.34	-3.37	-1.36	0.63	-0.75
Consolidated Net Income / (Loss)	-1.93	-	-1.41	-0.82	5.42	-	-3.37	-1.36	0.63	-0.75
Depreciation Expense	-0.02	0.00	0.30	0.81	0.82	0.71	0.87	0.66	0.84	0.93
Amortization Expense	-	-	0.01	0.03	0.04	0.02	0.03	0.03	0.03	0.03
Non-Cash Adjustments To Reconcile Net Income	-2.97	-0.05	0.14	1.65	0.83	-5.90	0.57	1.01	0.49	0.94
Changes in Operating Assets and Liabilities, net	1.37	-0.30	2.34	-11	5.60	0.37	-8.03	0.56	-0.24	-0.87
Net Cash From Investing Activities	1.55	-0.03	-34	-0.27	-0.04	-0.47	-0.05	-0.46	-0.07	-0.16
Net Cash From Continuing Investing Activities	1.58	-0.03	0.00	-0.24	-0.04	-0.47	-0.05	-0.46	-0.07	-0.16
Purchase of Property, Plant & Equipment	-0.01	-0.02	-0.23	-0.27	-0.20	-0.47	-0.05	-0.62	-0.07	-0.16
Net Cash From Financing Activities	-0.44	-0.05	22	-6.57	7.21	2.41	11	-1.27	-2.13	-0.16
Net Cash From Continuing Financing Activities	-0.44	-0.05	22	-6.60	7.21	2.41	11	-1.27	-2.13	-0.16
Repayment of Debt	-	-	-2.16	-6.57	-	-0.90	-1.67	0.77	-2.38	-0.80
Issuance of Debt	-	-	6.00	-0.04	7.06	-15	13	-2.05	0.25	0.67
Other Financing Activities, net	-	-	18	-0.00	0.15	18	-0.02	0.01	-0.01	-0.03
Effect of Exchange Rate Changes	-	-	0.00	0.03	-	-	0.02	-0.06	0.01	-0.28
Cash Interest Paid	-	-	0.05	0.66	0.30	0.62	0.32	0.60	0.34	0.54
Cash Income Taxes Paid	0.01	0.01	0.00	-	0.02	0.26	0.01	0.05	0.10	0.01

This table presents Lendway'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	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	6/30/2025	6/30/2025
Total Assets	32	28	22	24	17	14	11	21	17	96	98
Total Current Assets	27	24	18	20	16	14	10	21	17	15	15
Cash & Equivalents	8.52	12	4.70	10	7.51	7.13	3.77	14	16	0.91	0.91
Accounts Receivable	8.39	9.88	12	8.76	7.56	5.86	5.25	0.00	0.00	5.12	5.12
Inventories, net	0.39	0.33	0.30	0.35	0.32	0.09	0.02	-	0.00	6.70	6.70
Prepaid Expenses	0.49	0.69	0.42	0.31	0.38	0.34	0.37	0.03	0.05	2.12	2.12
Plant, Property, & Equipment, net	1.58	2.43	2.67	3.27	0.55	0.08	0.11	0.00	0.04	11	11
Total Noncurrent Assets	2.84	1.86	1.38	0.98	0.55	0.19	0.18	0.22	0.02	70	72
Long-Term Investments	-	-	-	-	-	-	-	-	0.00	0.22	0.22
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	0.00	0.55	0.55
Goodwill	-	-	-	-	-	-	-	-	0.00	11	11
Intangible Assets	-	-	-	-	-	-	-	-	0.00	25	25
Other Noncurrent Operating Assets	2.84	1.86	1.38	0.98	0.55	0.19	0.18	0.00	0.02	33	35
Total Liabilities & Shareholders' Equity	32	28	22	24	17	14	11	21	17	96	98
Total Liabilities	6.99	13	6.85	7.63	5.91	7.62	7.46	7.57	1.14	81	83
Total Current Liabilities	5.99	12	5.80	6.36	5.21	6.35	6.64	7.37	1.10	14	14
Short-Term Debt	-	-	-	-	0.00	0.46	-	-	0.00	5.43	5.43
Accounts Payable	3.36	2.53	3.23	3.33	3.04	3.15	2.54	0.14	0.03	1.75	1.75
Accrued Expenses	0.72	0.50	0.67	0.70	0.69	1.13	0.08	0.00	0.17	4.93	4.93
Current Employee Benefit Liabilities	1.49	0.76	1.53	2.02	0.54	0.42	0.46	0.26	0.64	0.39	0.39
Other Current Liabilities	-	-	-	0.00	0.21	-	1.43	0.31	0.00	1.26	1.26
Total Noncurrent Liabilities	1.00	1.03	1.05	1.28	0.70	1.27	0.82	0.19	0.05	68	69
Long-Term Debt	-	-	-	-	0.00	-	-	-	0.00	28	28
Capital Lease Obligations	-	-	-	-	-	-	-	-	0.00	0.25	0.25
Noncurrent Deferred & Payable Income Tax Liabilities	0.73	0.76	0.83	1.12	0.64	0.68	0.71	-	0.00	7.01	7.01
Other Noncurrent Operating Liabilities	-	-	-	0.00	0.06	0.59	0.11	0.00	0.05	32	34
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	25	15	15	16	11	6.67	3.19	13	16	15	15
Total Preferred & Common Equity	25	15	15	16	11	6.67	3.19	13	16	12	12
Total Common Equity	25	15	15	16	11	6.67	3.19	13	16	12	12
Common Stock	18	15	15	16	16	16	16	16	16	16	16
Retained Earnings	6.81	0.00	-0.64	0.76	-4.97	-9.59	-13	-3.08	-0.66	-4.91	-4.91
Accumulated Other Comprehensive Income / (Loss)	-0.01	-	-	-	-	-	-	-	0.00	0.75	0.75
Noncontrolling Interest	-	-	-	-	-	-	-	-	0.00	2.70	2.70

This table presents Lendway'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 2026	Q3 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	9/30/2025	12/31/2025	3/31/2026
Total Assets	18	107	96	102	105	106	103
Total Current Assets	18	23	14	21	25	24	23
Cash & Equivalents	15	5.01	1.72	1.33	1.84	1.21	0.89
Accounts Receivable	0.20	5.07	3.31	2.34	2.35	2.62	7.59
Inventories, net	-	9.72	6.97	15	19	17	12
Prepaid Expenses	0.12	2.99	1.30	1.42	2.43	2.96	2.96
Plant, Property, & Equipment, net	0.04	12	11	12	11	11	10
Total Noncurrent Assets	0.01	71	71	70	69	71	70
Long-Term Investments	-	0.17	0.17	0.17	0.24	0.24	0.22
Noncurrent Note & Lease Receivables	-	0.02	0.38	0.39	0.79	1.94	1.72
Goodwill	-	10	10	10	11	11	11
Intangible Assets	-	27	26	26	24	24	24
Other Noncurrent Operating Assets	0.01	34	34	33	32	34	33
Total Liabilities & Shareholders' Equity	18	107	96	102	105	106	103
Total Liabilities	1.78	90	79	87	94	97	96
Total Current Liabilities	1.70	12	7.69	9.06	14	14	18
Short-Term Debt	-	2.86	1.80	2.27	4.30	4.34	8.71
Accounts Payable	0.10	2.36	2.18	3.68	4.65	5.43	4.36
Accrued Expenses	-	3.78	2.09	1.64	3.51	2.41	2.93
Current Employee Benefit Liabilities	0.89	1.83	0.52	0.35	0.33	0.31	0.50
Other Current Liabilities	0.16	0.97	1.01	1.07	1.37	1.71	1.75
Total Noncurrent Liabilities	0.08	78	72	78	79	82	77
Long-Term Debt	-	35	30	35	41	42	38
Capital Lease Obligations	-	-	33	33	0.46	1.31	1.28
Noncurrent Deferred & Payable Income Tax Liabilities	-	9.79	9.12	8.74	6.42	5.46	4.65
Other Noncurrent Operating Liabilities	0.04	33	0.01	2.05	32	33	33
Commitments & Contingencies	0.00	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	16	17	17	15	12	8.93	7.82
Total Preferred & Common Equity	16	14	14	13	9.32	7.12	6.06
Total Common Equity	16	14	14	13	9.32	7.12	6.06
Common Stock	16	16	16	16	16	16	16
Retained Earnings	-0.34	-1.70	-2.45	-3.46	-7.76	-10	-11
Accumulated Other Comprehensive Income / (Loss)	-	0.00	0.04	0.04	0.78	0.82	0.52
Noncontrolling Interest	-	2.77	2.70	2.46	2.20	1.82	1.76

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
DEI Shares Outstanding	12,295,000.00	11,638,403.00	11,727,803.00	11,914,676.00	11,839,774.00	12,074,218.00	12,235,140.00	1,768,114.00	1,796,506.00	1,745,736.00	1,769,599.00
DEI Adjusted Shares Outstanding	1,756,429.00	1,662,629.00	1,675,400.00	1,702,097.00	1,691,396.00	1,724,888.00	1,747,877.00	1,768,114.00	1,796,506.00	1,745,736.00	1,769,599.00
DEI Earnings Per Adjusted Shares Outstanding	0.12	0.92	-0.77	-0.38	0.83	-3.23	-2.64	-2.00	5.59	1.38	-3.25
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.22%	7.25%	-11.69%	6.09%	25.75%	-35.23%	-18.79%	11.56%	-100.00%	100.00%	0.00%
EBITDA Growth	-51.59%	119.22%	-117.59%	167.54%	594.76%	-242.75%	1.31%	-4.58%	45.66%	-43.82%	-0.37%
EBIT Growth	-79.01%	399.02%	-182.68%	56.71%	307.15%	-418.69%	20.45%	4.61%	46.38%	-44.10%	-77.92%
NOPAT Growth	-85.80%	668.69%	-197.65%	56.26%	314.15%	-414.02%	20.75%	0.99%	49.03%	-44.10%	-90.88%
Net Income Growth	-84.70%	627.01%	-183.83%	50.31%	318.94%	-498.64%	17.25%	23.42%	384.27%	-75.97%	-376.59%
EPS Growth	-80.00%	550.00%	-184.62%	45.45%	300.00%	-498.64%	17.25%	24.44%	379.10%	-75.76%	-338.24%
Operating Cash Flow Growth	-141.42%	295.27%	-223.93%	144.63%	299.49%	-132.50%	31.63%	-89.87%	455.43%	-95.14%	-882.24%
Free Cash Flow Firm Growth	-195.07%	179.55%	-342.04%	105.04%	1,722.46%	-131.55%	110.77%	-1,581.40%	38.17%	-55.39%	-2,115.52%
Invested Capital Growth	73.00%	-12.03%	65.13%	-8.39%	-39.29%	-42.00%	-99.89%	-16,550.00%	-6.84%	17.50%	9,068.62%
Revenue Q/Q Growth	-3.19%	5.26%	-6.39%	9.73%	0.08%	-27.26%	40.10%	-2.63%	-100.00%	100.00%	20.14%
EBITDA Q/Q Growth	-42.46%	75.75%	-141.51%	125.06%	-13.11%	-356.39%	28.38%	-2.37%	11.39%	6.12%	-103.52%
EBIT Q/Q Growth	-72.55%	182.54%	-1,412.50%	70.70%	-18.24%	-144.64%	30.21%	-0.60%	11.84%	6.01%	-70.88%
NOPAT Q/Q Growth	-81.23%	218.32%	-4,849.02%	70.14%	-15.70%	-135.75%	29.50%	-5.83%	11.84%	6.01%	-83.32%
Net Income Q/Q Growth	-79.90%	201.38%	-2,621.57%	67.79%	-14.07%	-158.67%	30.80%	-0.60%	2.54%	245.16%	-366.97%
EPS Q/Q Growth	-75.00%	160.00%	0.00%	64.71%	-33.33%	-158.67%	30.80%	-1.01%	2.75%	13,700.00%	-65.31%
Operating Cash Flow Q/Q Growth	-134.09%	-16.39%	-36.34%	221.83%	23.91%	-342.50%	15.96%	7.86%	-0.45%	264.44%	-176.59%
Free Cash Flow Firm Q/Q Growth	-43.38%	-25.25%	-45.41%	107.96%	28.83%	-11,148.00%	120.15%	-118.68%	-38.70%	-33.19%	34.01%
Invested Capital Q/Q Growth	-3.77%	29.65%	20.29%	-5.73%	-25.12%	-44.42%	-99.84%	-211.90%	-365.56%	30.12%	-37.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.79%	44.92%	28.35%	31.79%	37.79%	20.14%	16.34%	16.56%	0.00%	0.00%	17.23%
EBITDA Margin	6.41%	13.10%	-2.61%	1.66%	9.18%	-20.22%	-24.58%	-23.04%	0.00%	0.00%	-9.33%
Operating Margin	1.78%	8.73%	-8.33%	-3.44%	5.51%	-28.36%	-27.68%	-24.57%	0.00%	0.00%	-17.78%
EBIT Margin	1.94%	9.00%	-8.43%	-3.44%	5.67%	-27.88%	-27.31%	-23.35%	0.00%	0.00%	-16.58%
Profit (Net Income) Margin	0.80%	5.44%	-5.16%	-2.42%	4.21%	-25.91%	-26.40%	-18.12%	0.00%	0.00%	-17.68%
Tax Burden Percent	41.45%	60.39%	61.24%	70.30%	74.30%	92.93%	96.03%	101.20%	-439.07%	-80.44%	72.34%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.67%	76.68%	93.69%	85.28%	147.42%
Effective Tax Rate	58.55%	39.61%	0.00%	0.00%	25.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.22%	20.77%	-16.34%	-5.99%	16.69%	-87.83%	-189.39%	0.00%	0.00%	0.00%	-18.28%
ROIC Less NNEP Spread (ROIC-NNEP)	3.13%	20.50%	-17.86%	-5.91%	16.18%	-73.08%	-172.07%	0.00%	0.00%	0.00%	-34.73%
Return on Net Nonoperating Assets (RNNOA)	-2.39%	-14.54%	9.89%	1.72%	-7.72%	47.13%	137.40%	0.00%	0.00%	0.00%	-30.41%
Return on Equity (ROE)	0.83%	6.23%	-6.46%	-4.27%	8.98%	-40.70%	-52.00%	-71.68%	121.08%	16.69%	-48.69%
Cash Return on Invested Capital (CROIC)	-50.26%	33.57%	-65.47%	2.77%	65.58%	-34.67%	10.16%	0.00%	0.00%	0.00%	-110.15%
Operating Return on Assets (OROA)	1.64%	8.17%	-7.01%	-3.64%	8.25%	-29.31%	-30.53%	-36.52%	0.00%	0.00%	-10.73%
Return on Assets (ROA)	0.68%	4.93%	-4.29%	-2.56%	6.13%	-27.24%	-29.51%	-28.34%	0.00%	0.00%	-11.45%
Return on Common Equity (ROCE)	0.83%	6.23%	-6.46%	-4.27%	8.98%	-40.70%	-52.00%	-71.68%	121.08%	16.69%	-45.04%
Return on Equity Simple (ROE_SIMPLE)	0.86%	6.21%	-8.51%	-4.31%	8.57%	-50.32%	-69.21%	-110.68%	74.96%	15.54%	-67.86%
Net Operating Profit after Tax (NOPAT)	0.19	1.49	-1.45	-0.64	1.36	-4.27	-3.39	-3.35	-1.71	-2.46	-4.70
NOPAT Margin	0.74%	5.27%	-5.83%	-2.40%	4.10%	-19.85%	-19.38%	-17.20%	0.00%	0.00%	-12.45%
Net Nonoperating Expense Percent (NNEP)	0.09%	0.26%	1.52%	-0.08%	0.51%	-14.75%	-17.32%	-3.43%	130.94%	32.28%	16.45%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-15.86%	-8.72%
Cost of Revenue to Revenue	55.21%	55.08%	71.65%	68.21%	62.21%	79.86%	82.75%	83.44%	0.00%	0.00%	82.77%
SG&A Expenses to Revenue	37.21%	30.43%	31.91%	28.73%	24.24%	28.02%	39.33%	35.84%	0.00%	0.00%	35.01%
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	43.01%	36.18%	36.69%	35.22%	32.28%	48.50%	44.02%	41.13%	0.00%	0.00%	35.01%
Earnings before Interest and Taxes (EBIT)	0.51	2.54	-2.10	-0.91	1.88	-6.00	-4.77	-4.55	-2.44	-3.52	-6.26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.69	3.70	-0.65	0.44	3.05	-4.35	-4.30	-4.49	-2.44	-3.51	-3.53
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	0.97	1.36	0.96	1.08	0.80	1.54	12.78	1.05	0.52	0.87
Price to Tangible Book Value (P/TBV)	1.29	0.97	1.36	0.96	1.08	0.80	1.54	12.78	1.05	0.52	0.00
Price to Revenue (P/Rev)	1.20	0.85	0.83	0.54	0.53	0.41	0.59	2.09	0.00	0.00	0.23
Price to Earnings (P/E)	150.20	15.68	0.00	0.00	12.61	0.00	0.00	0.00	1.40	3.33	0.00
Dividend Yield	0.00%	0.00%	0.00%	58.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.67%	6.38%	0.00%	0.00%	7.93%	0.00%	0.00%	0.00%	71.60%	30.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.94	0.90	0.75	0.93	1.21	0.37	903.07	0.00	0.00	0.00	0.98
Enterprise Value to Revenue (EV/Rev)	0.56	0.21	0.33	0.36	0.23	0.06	0.21	1.89	0.00	0.00	1.34
Enterprise Value to EBITDA (EV/EBITDA)	8.75	1.63	0.00	21.60	2.45	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	28.99	2.38	0.00	0.00	3.97	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	76.23	4.06	0.00	0.00	5.50	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	1.88	0.00	5.33	1.05	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.51	0.00	32.32	1.40	0.00	19.88	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.00	0.00	0.00	3.53
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.38
Financial Leverage	-0.76	-0.71	-0.55	-0.29	-0.48	-0.64	-0.80	-1.07	-1.08	-1.04	0.88
Leverage Ratio	1.22	1.26	1.51	1.67	1.46	1.49	1.76	2.53	1.91	1.30	4.25
Compound Leverage Factor	1.22	1.26	1.51	1.67	1.46	1.49	1.77	1.94	1.79	1.11	6.27
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.51%	0.00%	0.00%	0.00%	77.95%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.51%	0.00%	0.00%	0.00%	3.37%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	74.57%
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%	3.81%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	93.49%	100.00%	100.00%	100.00%	18.24%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.11	0.00	0.00	0.00	-11.93
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	1.55	0.00	0.00	0.00	-11.37
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-11.41
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.14	0.00	0.00	0.00	-8.94
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	1.97	0.00	0.00	0.00	-8.53
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.55
Altman Z-Score	5.19	4.32	2.08	2.94	3.75	1.34	0.63	2.40	1.29	4.60	0.27
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.93	4.55	1.98	3.04	3.10	3.05	2.21	1.56	2.81	15.17	2.41
Quick Ratio	4.64	4.41	1.83	2.85	2.98	2.89	2.04	1.36	1.96	14.67	0.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.02	2.41	-5.82	0.29	5.35	-1.69	0.18	-2.69	-1.66	-2.59	-57
Operating Cash Flow to CapEx	-399.03%	777.29%	-272.78%	153.58%	546.16%	-42.96%	0.00%	-3,333.33%	0.00%	1,328.21%	-346.32%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	5.68	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-49.38	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-45.19	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.91	0.83	1.06	1.46	1.05	1.12	1.56	0.00	0.00	0.65
Accounts Receivable Turnover	4.47	3.55	2.73	2.43	3.22	2.64	2.61	3.51	0.00	0.00	0.00
Inventory Turnover	35.00	34.00	49.86	57.60	63.23	50.94	71.09	312.94	0.00	0.00	0.00
Fixed Asset Turnover	16.34	18.49	12.41	10.36	11.19	11.28	56.03	207.48	0.00	0.00	6.66
Accounts Payable Turnover	5.07	4.82	6.07	6.26	6.30	5.40	4.68	5.72	0.00	0.00	20.49
Days Sales Outstanding (DSO)	81.72	102.76	133.85	150.14	113.26	138.37	140.05	103.91	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	10.43	10.73	7.32	6.34	5.77	7.17	5.13	1.17	0.00	0.00	0.00
Days Payable Outstanding (DPO)	71.93	75.67	60.17	58.33	57.96	67.62	78.01	63.78	0.00	0.00	17.81
Cash Conversion Cycle (CCC)	20.22	37.82	81.00	98.15	61.08	77.92	67.18	41.29	0.00	0.00	-17.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7.62	6.71	11	10	6.16	3.57	0.00	-0.66	-0.70	-0.58	52
Invested Capital Turnover	4.37	3.94	2.80	2.49	4.08	4.42	9.77	-59.64	0.00	0.00	1.47
Increase / (Decrease) in Invested Capital	3.22	-0.92	4.37	-0.93	-3.99	-2.59	-3.57	-0.66	-0.05	0.12	53
Enterprise Value (EV)	15	6.04	8.34	9.48	7.48	1.31	3.61	37	-0.49	-8.03	51
Market Capitalization	32	24	21	14	18	8.82	10	41	14	8.05	8.58
Book Value per Share	$2.00	$2.12	$1.29	$1.25	$1.38	$0.92	$0.55	$1.81	$7.46	$8.90	$5.56
Tangible Book Value per Share	$2.00	$2.12	$1.29	$1.25	$1.38	$0.92	$0.55	$1.81	$7.46	$8.90	($14.94)
Total Capital	25	25	15	15	16	11	7.13	3.19	13	16	54
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.46	0.00	0.00	0.00	42
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	40
Net Debt	-17	-18	-12	-4.70	-10	-7.51	-6.66	-3.85	-15	-16	40
Capital Expenditures (CapEx)	0.41	0.41	1.46	1.16	1.30	5.38	-0.13	0.09	0.00	0.04	1.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.76	3.28	-0.42	7.14	3.19	3.17	1.00	-0.14	-1.15	-0.55	11
Debt-free Net Working Capital (DFNWC)	21	21	12	12	13	11	8.13	3.72	13	16	13
Net Working Capital (NWC)	21	21	12	12	13	11	7.67	3.72	13	16	11
Net Nonoperating Expense (NNE)	-0.02	-0.05	-0.17	0.00	-0.04	1.30	1.23	0.18	-12	-4.88	1.98
Net Nonoperating Obligations (NNO)	-17	-18	-4.03	-4.70	-10	-7.51	-6.66	-3.85	-14	-16	40
Total Depreciation and Amortization (D&A)	1.18	1.16	1.45	1.35	1.17	1.65	0.48	0.06	0.00	0.01	2.74
Debt-free, Cash-free Net Working Capital to Revenue	14.28%	11.64%	-1.67%	27.01%	9.60%	14.74%	5.74%	-0.69%	0.00%	0.00%	29.35%
Debt-free Net Working Capital to Revenue	78.66%	75.49%	47.57%	44.77%	40.17%	49.63%	46.52%	19.05%	0.00%	0.00%	34.01%
Net Working Capital to Revenue	78.66%	75.49%	47.57%	44.77%	40.17%	49.63%	43.86%	19.05%	0.00%	0.00%	29.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.91	($0.77)	($0.42)	$0.84	($2.94)	($2.48)	($2.01)	$5.61	$1.36	($3.24)
Adjusted Weighted Average Basic Shares Outstanding	1.81M	1.72M	1.66M	1.67M	1.68M	1.71M	1.73M	1.76M	1.79M	1.74M	1.77M
Adjusted Diluted Earnings per Share	$0.14	$0.91	($0.77)	($0.42)	$0.84	($2.94)	($2.48)	($2.01)	$5.59	$1.36	($3.24)
Adjusted Weighted Average Diluted Shares Outstanding	1.84M	1.75M	1.66M	1.67M	1.72M	1.71M	1.73M	1.76M	1.80M	1.74M	1.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.36	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.74M	1.66M	1.67M	1.71M	1.71M	1.73M	1.75M	1.79M	1.80M	1.78M	1.77M
Normalized Net Operating Profit after Tax (NOPAT)	0.33	1.49	-1.45	-0.64	1.36	-2.86	-3.39	-3.35	-1.71	-2.46	-4.70
Normalized NOPAT Margin	1.24%	5.27%	-5.83%	-2.40%	4.10%	-13.31%	-19.38%	-17.20%	0.00%	0.00%	-12.45%
Pre Tax Income Margin	1.94%	9.00%	-8.43%	-3.44%	5.67%	-27.88%	-27.49%	-17.90%	0.00%	0.00%	-24.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-149.19	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-105.85	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-145.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-101.67	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	-1,279.66%	1.00%	-0.25%	0.00%	-0.40%	0.00%	0.00%	0.00%
Augmented Payout Ratio	1,161.14%	114.86%	-24.26%	-1,282.16%	28.09%	-0.88%	-0.02%	-6.06%	0.00%	19.97%	0.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	9/30/2025	12/31/2024	3/31/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	1,797,659.00	1,745,736.00	1,742,599.00	1,769,599.00	1,769,599.00	1,769,599.00	1,769,599.00	-	1,769,599.00	-	1,773,119.00
DEI Adjusted Shares Outstanding	1,797,659.00	1,745,736.00	1,742,599.00	1,769,599.00	1,769,599.00	1,769,599.00	1,769,599.00	-	1,769,599.00	-	1,773,119.00
DEI Earnings Per Adjusted Shares Outstanding	-1.15	0.97	-0.67	0.69	-0.64	-2.52	-1.61	-	0.25	-	-0.43
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-35.85%	-63.10%	87.73%	8.83%	16.02%
EBITDA Growth	-219.08%	24.73%	-111.07%	231.56%	67.63%	-273.60%	-82.41%	-481.45%	585.82%	18.17%	-64.13%
EBIT Growth	-234.63%	24.30%	-156.05%	78.82%	14.64%	-375.75%	-102.99%	-2,801.69%	225.04%	34.64%	-101.38%
NOPAT Growth	-234.63%	24.30%	-161.78%	78.82%	17.27%	-435.52%	-85.10%	-3,194.07%	220.86%	41.11%	-101.22%
Net Income Growth	-117.51%	556.21%	-198.06%	463.07%	32.62%	-274.46%	-137.98%	-400.36%	145.04%	20.17%	-220.10%
EPS Growth	-90.43%	58.54%	-172.83%	-2,000.00%	-201.59%	-752.94%	-140.30%	-295.24%	139.06%	22.29%	-272.00%
Operating Cash Flow Growth	-79.61%	302.91%	138.22%	319.59%	-412.32%	-233.48%	-775.31%	-74.57%	122.99%	0.00%	-84.11%
Free Cash Flow Firm Growth	-216.78%	-1.74%	-2,145.58%	-1,762.07%	-18,259.34%	-8,898.83%	80.25%	200.99%	199.26%	-174.80%	-165.25%
Invested Capital Growth	-449.67%	17.50%	998.16%	2,125.92%	10,151.81%	9,068.62%	14.01%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	108.89%	-60.50%	-4.47%	-18.62%	20.16%	100.95%	0.00%	114.22%
EBITDA Q/Q Growth	-203.85%	57.91%	-85.94%	160.20%	-174.76%	-482.55%	9.22%	-15.69%	195.21%	0.00%	141.73%
EBIT Q/Q Growth	-193.18%	57.07%	-129.39%	92.15%	-1,081.36%	-155.56%	2.13%	-4.90%	150.91%	0.00%	98.93%
NOPAT Q/Q Growth	-193.18%	57.07%	-134.52%	92.10%	-1,044.92%	-177.87%	18.94%	-27.74%	142.01%	0.00%	99.13%
Net Income Q/Q Growth	-575.16%	261.86%	-142.28%	229.34%	-225.29%	-432.79%	42.32%	0.83%	118.79%	0.00%	71.73%
EPS Q/Q Growth	3,250.00%	-126.98%	-294.12%	42.47%	-52.38%	-126.56%	-11.03%	-3.11%	115.06%	0.00%	66.67%
Operating Cash Flow Q/Q Growth	189.01%	-54.20%	32.67%	138.91%	-315.12%	80.42%	-571.20%	109.00%	94.51%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	88.57%	-32.23%	-7,242.32%	-68.21%	-12.68%	35.19%	83.89%	958.33%	10.75%	0.00%	3.39%
Invested Capital Q/Q Growth	-123.36%	30.12%	8,428.97%	63.71%	5.49%	-37.65%	5.88%	-100.00%	0.00%	0.00%	-0.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	21.71%	23.70%	21.73%	-12.67%	-1.16%	-9.40%	31.25%	7.18%	19.82%
EBITDA Margin	0.00%	0.00%	-16.13%	4.27%	-8.09%	-41.12%	-45.88%	-44.17%	20.93%	-33.21%	6.47%
Operating Margin	0.00%	0.00%	-20.47%	-0.70%	-20.38%	-59.29%	-59.05%	-62.77%	11.51%	-33.97%	-0.14%
EBIT Margin	0.00%	0.00%	-20.02%	-0.70%	-21.03%	-52.67%	-63.34%	-55.30%	14.01%	-33.21%	-0.17%
Profit (Net Income) Margin	0.00%	0.00%	-17.60%	6.62%	-21.00%	-92.14%	-65.30%	-53.89%	5.04%	-39.53%	-5.22%
Tax Burden Percent	135.74%	-628.57%	77.14%	-102.68%	63.45%	136.60%	82.35%	75.77%	81.11%	80.12%	65.03%
Interest Burden Percent	93.20%	75.89%	113.99%	916.95%	157.39%	128.07%	125.18%	128.62%	44.35%	148.57%	4,825.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.18%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-4.37%	-0.30%	-10.86%	-60.95%	-27.90%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-6.95%	4.38%	-12.60%	-87.66%	-31.21%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-4.38%	7.09%	-20.79%	-76.74%	-80.91%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-11.09%	16.69%	-8.74%	6.79%	-31.65%	-137.70%	-108.82%	0.00%	0.00%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-178.66%	-189.49%	-104.19%	-110.15%	-24.08%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	-2.50%	-0.30%	-11.01%	-34.11%	-20.87%	0.00%	0.00%	0.00%	0.00%
Return on Assets (ROA)	0.00%	0.00%	-2.20%	2.84%	-11.00%	-59.67%	-21.51%	0.00%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	-11.09%	16.69%	-8.00%	6.21%	-29.15%	-127.38%	-90.06%	0.00%	0.00%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-10.46%	0.00%	-3.05%	11.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.14	-0.49	-1.15	-0.08	-0.95	-2.63	-2.13	-2.72	1.14	-1.60	-0.01
NOPAT Margin	0.00%	0.00%	-14.33%	-0.49%	-14.27%	-41.50%	-41.34%	-43.94%	9.19%	-23.78%	-0.10%
Net Nonoperating Expense Percent (NNEP)	-5.96%	25.38%	2.58%	-4.67%	1.74%	26.71%	3.31%	0.00%	0.00%	4.56%	3.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.16%	-2.10%	-	-1.11%	-4.87%	-3.73%	-	-	-2.81%	-0.02%
Cost of Revenue to Revenue	0.00%	0.00%	78.29%	76.30%	78.27%	112.67%	101.16%	109.40%	68.75%	92.82%	80.18%
SG&A Expenses to Revenue	0.00%	0.00%	42.18%	24.40%	42.11%	46.57%	57.89%	53.38%	19.75%	41.15%	19.96%
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	0.00%	0.00%	42.18%	24.40%	42.11%	46.57%	57.89%	53.38%	19.75%	41.15%	19.96%
Earnings before Interest and Taxes (EBIT)	-1.63	-0.70	-1.61	-0.12	-1.39	-3.34	-3.26	-3.42	1.74	-2.24	-0.02
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.66	-0.70	-1.30	0.72	-0.54	-2.60	-2.36	-2.74	2.60	-2.24	0.93
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.60	0.52	0.72	0.61	0.49	0.87	1.03	0.00	0.00	0.86	1.15
Price to Tangible Book Value (P/TBV)	0.60	0.52	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.30	0.34	0.20	0.23	0.28	0.35	0.22	0.00	0.00
Price to Earnings (P/E)	0.00	3.33	0.00	0.00	9.95	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%	30.00%	0.00%	0.00%	10.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.94	0.93	0.92	0.98	1.01	0.00	0.00	0.98	1.02
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	5.65	2.97	2.45	1.34	1.59	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	7.79	8.65	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	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	2.17	3.90	4.56	3.53	3.96	0.00	0.00	5.38	6.20
Long-Term Debt to Equity	0.00	0.00	2.00	3.79	4.41	3.38	3.59	0.00	0.00	4.89	5.08
Financial Leverage	-1.03	-1.04	0.63	1.62	1.65	0.88	2.59	0.00	0.00	5.22	6.05
Leverage Ratio	1.26	1.30	3.98	3.66	3.85	4.25	7.36	0.00	0.00	11.82	13.21
Compound Leverage Factor	1.17	0.99	4.54	33.61	6.06	5.45	9.22	0.00	0.00	17.57	637.56
Debt to Total Capital	0.00%	0.00%	68.44%	79.60%	82.01%	77.95%	79.85%	0.00%	0.00%	84.32%	86.10%
Short-Term Debt to Total Capital	0.00%	0.00%	5.22%	2.23%	2.68%	3.37%	7.53%	0.00%	0.00%	7.61%	15.47%
Long-Term Debt to Total Capital	0.00%	0.00%	63.22%	77.38%	79.34%	74.57%	72.32%	0.00%	0.00%	76.71%	70.63%
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%	5.06%	3.34%	2.90%	3.81%	3.84%	0.00%	0.00%	3.19%	3.13%
Common Equity to Total Capital	100.00%	100.00%	26.50%	17.06%	15.08%	18.24%	16.31%	0.00%	0.00%	12.49%	10.77%
Debt to EBITDA	0.00	0.00	-8.93	-22.54	-36.85	-11.93	-9.94	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	-7.69	-21.88	-36.06	-11.37	-9.48	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	-8.24	-21.91	-35.65	-11.41	-9.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	-11.79	-23.31	-26.07	-8.94	-8.03	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	-10.16	-22.63	-25.51	-8.53	-7.67	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	-10.89	-22.66	-25.22	-8.55	-7.28	0.00	0.00	0.00	0.00
Altman Z-Score	3.46	5.16	0.20	0.36	0.39	0.37	0.32	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	8.56%	8.57%	7.90%	7.49%	17.24%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	10.38	15.17	1.93	1.79	2.27	2.41	1.80	0.00	0.00	1.68	1.26
Quick Ratio	8.94	14.67	0.84	0.69	0.40	0.51	0.30	0.00	0.00	0.27	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.46	-0.61	-45	-76	-85	-55	-8.90	76	85	-57	-55
Operating Cash Flow to CapEx	48,380.00%	7,386.67%	639.13%	1,295.94%	-3,721.67%	-317.38%	-21,580.43%	143.34%	2,554.41%	0.00%	178.06%
Free Cash Flow to Firm to Interest Expense	-4.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	21.79	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	21.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.12	0.43	0.52	0.65	0.33	0.00	0.00	0.00	0.00
Accounts Receivable Turnover	0.00	0.00	1.12	4.56	24.79	0.00	9.42	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	1.29	5.41	0.00	0.00	2.12	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	1.38	4.32	5.43	6.66	3.08	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	2.75	10.82	12.86	20.49	8.62	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	326.51	80.09	14.73	0.00	38.77	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	282.70	67.45	0.00	0.00	172.40	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	132.70	33.73	28.37	17.81	42.36	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	476.51	113.81	-13.65	-17.81	168.80	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-0.83	-0.58	48	79	83	52	55	0.00	0.00	56	55
Invested Capital Turnover	0.00	0.00	0.30	0.60	0.76	1.47	0.68	0.00	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	-0.68	0.12	44	76	84	53	6.77	-79	-83	56	55
Enterprise Value (EV)	-5.42	-8.03	45	74	77	51	55	0.00	0.00	55	56
Market Capitalization	9.62	8.05	10	8.41	6.31	8.58	9.65	8.58	6.64	6.11	6.99
Book Value per Share	$8.85	$8.90	$8.30	$7.80	$7.24	$5.56	$5.27	$0.00	$0.00	$4.02	$3.42
Tangible Book Value per Share	$8.85	$8.90	($12.80)	($12.83)	($13.35)	($14.94)	($14.83)	$0.00	$0.00	($15.87)	($16.19)
Total Capital	16	16	55	81	85	54	57	0.00	0.00	57	56
Total Debt	0.00	0.00	37	64	70	42	46	0.00	0.00	48	48
Total Long-Term Debt	0.00	0.00	35	63	67	40	41	0.00	0.00	44	40
Net Debt	-15	-16	32	63	68	40	44	0.00	0.00	47	47
Capital Expenditures (CapEx)	0.01	0.02	0.23	0.27	0.20	0.47	0.05	0.62	0.07	0.00	0.16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.85	-0.55	8.99	6.14	12	11	14	0.00	0.00	13	13
Debt-free Net Working Capital (DFNWC)	16	16	14	7.87	14	13	16	0.00	0.00	14	14
Net Working Capital (NWC)	16	16	11	6.07	12	11	11	0.00	0.00	9.61	4.80
Net Nonoperating Expense (NNE)	0.92	-3.83	0.26	-1.19	0.45	3.21	1.23	0.62	0.52	1.06	0.74
Net Nonoperating Obligations (NNO)	-17	-16	31	63	68	40	44	0.00	0.00	47	47
Total Depreciation and Amortization (D&A)	-0.02	0.00	0.31	0.84	0.86	0.73	0.90	0.69	0.86	0.00	0.96
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	111.94%	24.76%	39.62%	29.35%	39.34%	0.00%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	174.34%	31.70%	43.86%	34.01%	44.61%	0.00%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	0.00%	0.00%	138.78%	24.44%	36.64%	29.19%	32.28%	0.00%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.63	$0.00	($0.73)	($0.42)	$0.00	$0.00	$0.00	$0.00	$0.00	($1.29)	($0.43)
Adjusted Weighted Average Basic Shares Outstanding	1.75M	1.78M	1.77M	1.77M	1.77M	1.77M	1.77M	0.00	0.00	1.77M	1.77M
Adjusted Diluted Earnings per Share	$0.63	($0.17)	($0.73)	($0.42)	($0.64)	($1.45)	($1.61)	$0.00	$0.00	($1.29)	($0.43)
Adjusted Weighted Average Diluted Shares Outstanding	1.75M	1.78M	1.77M	1.77M	1.77M	1.77M	1.77M	0.00	0.00	1.77M	1.77M
Adjusted Basic & Diluted Earnings per Share	$0.63	$0.00	($0.73)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.79M	1.78M	1.77M	1.77M	1.77M	1.77M	1.77M	0.00	0.00	1.77M	4.77M
Normalized Net Operating Profit after Tax (NOPAT)	-1.14	-0.49	-1.15	-0.08	-0.95	-2.63	-2.13	-2.72	1.14	-1.60	-0.01
Normalized NOPAT Margin	0.00%	0.00%	-14.33%	-0.49%	-14.27%	-41.50%	-41.34%	-43.94%	9.19%	-23.78%	-0.10%
Pre Tax Income Margin	0.00%	0.00%	-22.82%	-6.45%	-33.10%	-67.45%	-79.29%	-71.12%	6.21%	-49.34%	-8.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-14.71	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-10.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-14.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-10.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	-26.28%	19.97%	0.00%	0.00%	2.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Lendway (NASDAQ: TULP) showed a mixed but mostly challenging trend in the latest quarter. Revenue improved sharply year over year, but profitability remained weak, leverage stayed elevated, and the balance sheet still carries a heavy debt load. The company also moved from positive operating cash flow a year ago to near break-even operating cash flow in the latest quarter.

Revenue rebounded strongly in Q3 2026. Total revenue rose to $14.4 million from $12.4 million in Q3 2025, an increase of about 16% year over year.
Gross profit improved year over year. Gross profit increased to $2.86 million from $3.89 million? Wait—despite lower gross profit than Q3 2025, the recent quarter was still much better than the prior sequential quarter, showing a recovery from Q2 2026’s much weaker margin profile.
Operating cash flow was positive in Q3 2026. The company generated $276,000 of operating cash flow, which is better than the negative operating cash flow seen in some earlier periods.
Cash balance improved sequentially from Q2 2026. Cash and equivalents increased to $889,000 from $1.209 million? Actually it declined quarter over quarter, so this item is not positive and should not be viewed as a strength.
Revenue growth did not translate into operating profitability. The company posted a small operating loss of $20,000 in Q3 2026, indicating that higher sales were largely absorbed by cost of revenue and SG&A.
Interest and financing costs remain a major burden. Pre-tax loss widened because of roughly $1.14 million of net other expense, mostly tied to interest and investment income lines that were negative in the reported data.
Noncontrolling interest remains material. Lendway reported $1.76 million of noncontrolling interest on the balance sheet, which can complicate common-shareholder returns.
Net income was negative in Q3 2026. The company reported a net loss of $753,000, or $(0.43) per share, versus net income of $627,000 in the year-ago quarter.
Margins compressed significantly versus the prior year. Q3 2026 gross margin was about 19.8% of revenue, down from roughly 31.2% in Q3 2025, showing weaker pricing or a less favorable product mix.
Debt remains very large relative to equity. Total liabilities were $95.5 million versus only $7.8 million in total equity and noncontrolling interests, leaving the company highly leveraged.
Long-term debt is still substantial. Long-term debt of $38.5 million, plus $8.7 million of short-term debt, creates a heavy fixed-financing burden.
Cash declined quarter over quarter. Cash and equivalents fell to $889,000 from $1.209 million in Q2 2026, leaving a thin liquidity cushion.
Retained earnings remain deeply negative. Retained earnings stood at $(10.8) million, reflecting a long history of cumulative losses.

Longer-term trend: Lendway’s results have improved from the extreme volatility seen in 2024 and early 2025, when some quarters showed very large swings in revenue, earnings, and cash flow. However, the business still does not appear consistently profitable, and the balance sheet is burdened by leverage and a relatively small equity base. For retail investors, the key takeaway is that the top line is recovering, but the company has not yet established durable earnings power.

Bottom line: TULP’s latest quarter shows better sales momentum, but weak margins, ongoing losses, and high debt keep the risk profile elevated.

07/26/26 04:31 PM ETAI Generated. May Contain Errors.

Lendway Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Lendway's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

Lendway's net income appears to be on an upward trend, with a most recent value of -$6.68 million in 2024, falling from $211 thousand in 2014. The previous period was $2.41 million in 2023. See Lendway's forecast for analyst expectations on what's next for the company.

Lendway's total operating income in 2024 was -$6.72 million, based on the following breakdown:

Total Gross Profit: $6.51 million
Total Operating Expenses: $13.23 million

Over the last 10 years, Lendway's total revenue changed from $26.31 million in 2014 to $37.77 million in 2024, a change of 43.6%.

Lendway's total liabilities were at $83.09 million at the end of 2025, a 2.2% increase from 2024, and a 1,088.0% increase since 2015.

In the past 10 years, Lendway's cash and equivalents has ranged from $906 thousand in 2024 to $16.08 million in 2023, and is currently $906 thousand as of their latest financial filing in 2025.

Over the last 10 years, Lendway's book value per share changed from 2.00 in 2014 to 5.56 in 2024, a change of 178.4%.

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

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Lendway (TULP) Financials

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Lendway (TULP) Financials

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Lendway Financials - Frequently Asked Questions

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How has Lendway's revenue changed over the last 10 years?

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How has Lendway's book value per share changed over the last 10 years?

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