What is Usio's operating income?

Usio's total operating income in 2025 was -$2.36 million, based on the following breakdown: Total Gross Profit: $19.69 million Total Operating Expenses: $22.05 million

Usio (USIO) Financials

$2.17 -0.06 (-2.74%)

As of 01:06 PM Eastern

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Annual Income Statements for Usio

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.02	-1.20	-3.01	-3.78	-5.12	-2.91	-0.32	-5.48	-0.48	3.31	-2.51
Consolidated Net Income / (Loss)	1.02	-1.20	-3.01	-3.78	-5.12	-2.91	-0.32	-5.48	-0.48	3.31	-2.51
Net Income / (Loss) Continuing Operations	1.02	-1.20	-3.01	-3.78	-5.12	-2.91	-0.32	-5.48	-0.48	3.31	-2.51
Total Pre-Tax Income	1.09	-1.16	-2.73	-3.70	-5.01	-2.88	-0.15	-5.20	-0.18	0.68	-2.00
Total Operating Income	0.95	-1.36	-2.84	-3.77	-5.06	-3.76	-0.16	-5.21	-0.45	-1.47	-2.36
Total Gross Profit	4.96	3.78	3.77	5.57	5.95	7.38	16	15	20	20	20
Total Revenue	14	12	15	25	28	32	62	69	84	83	85
Operating Revenue	14	12	15	25	28	32	62	69	84	83	85
Total Cost of Revenue	9.42	8.29	11	19	22	25	46	55	64	63	66
Operating Cost of Revenue	9.42	8.29	11	19	22	25	46	55	64	63	66
Total Operating Expenses	4.02	5.14	6.61	9.34	11	11	16	20	21	21	22
Selling, General & Admin Expense	2.41	3.19	4.38	6.22	7.70	8.14	12	15	16	17	18
Depreciation Expense	0.50	0.90	1.26	1.88	2.02	1.52	2.64	2.74	2.08	2.26	1.95
Other Special Charges / (Income)	1.28	1.31	0.97	1.25	1.29	1.48	1.49	2.07	2.22	2.09	1.74
Total Other Income / (Expense), net	0.14	0.20	0.10	0.08	0.05	0.87	0.00	0.01	0.26	2.15	0.36
Interest Expense	-0.08	-0.10	-0.10	-0.08	-0.08	-0.81	0.00	0.00	0.01	0.05	0.05
Interest & Investment Income	-	-	-	-	-	0.06	0.01	0.02	0.22	0.46	0.41
Other Income / (Expense), net	0.07	0.10	0.00	-0.00	-0.03	0.00	0.00	0.00	0.05	1.74	0.01
Income Tax Expense	0.08	0.03	0.27	0.08	0.10	0.02	0.17	0.28	0.29	-2.63	0.51
Basic Earnings per Share	$0.14	($0.15)	($0.33)	($0.31)	($0.39)	($0.19)	($0.02)	($0.27)	($0.02)	$0.12	($0.09)
Weighted Average Basic Shares Outstanding	7.39M	7.84M	9.00M	12.13M	12.96M	15.43M	20.03M	20.38M	26.49M	26.85M	26.93M
Diluted Earnings per Share	$0.08	($0.15)	($0.33)	($0.31)	($0.39)	($0.19)	($0.02)	($0.27)	($0.02)	$0.12	($0.09)
Weighted Average Diluted Shares Outstanding	11.99M	7.84M	9.00M	12.13M	12.96M	15.43M	20.03M	20.38M	26.49M	26.85M	26.93M
Weighted Average Basic & Diluted Shares Outstanding	12.41M	11.80M	15.87M	16.86M	17.14M	25.03M	25.53M	26.39M	26.34M	26.51M	27.75M

This table shows Usio'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	-0.72	-0.07	-0.25	0.08	2.85	0.63	-0.17	-0.37	-0.42	-1.50	0.19
Consolidated Net Income / (Loss)	-0.72	0.03	-0.25	0.08	2.85	0.63	-0.23	-0.37	-0.42	-1.50	0.12
Net Income / (Loss) Continuing Operations	-0.72	-0.07	-0.25	0.08	2.85	0.63	-0.17	-0.37	-0.42	-1.50	0.19
Total Pre-Tax Income	-0.65	0.10	-0.18	0.15	-0.26	0.98	-0.17	-0.30	-0.35	-1.18	0.29
Total Operating Income	-0.75	0.07	-0.28	-0.21	-0.38	-0.60	-0.24	-0.40	-0.46	-1.26	0.23
Total Gross Profit	4.66	5.33	4.85	4.80	4.90	5.06	4.81	5.14	4.87	4.87	5.14
Total Revenue	21	20	21	20	21	21	22	20	21	22	25
Operating Revenue	21	20	21	20	21	21	22	20	21	22	25
Total Cost of Revenue	16	15	16	15	16	15	17	15	16	17	20
Operating Cost of Revenue	16	15	16	15	16	15	17	15	16	17	20
Total Operating Expenses	5.41	5.26	5.14	5.01	5.27	5.67	5.05	5.54	5.33	6.13	4.91
Selling, General & Admin Expense	4.29	4.20	4.06	4.00	4.12	4.55	4.14	4.64	4.50	5.08	4.36
Depreciation Expense	0.52	0.52	0.58	0.55	0.58	0.56	0.50	0.46	0.43	0.55	0.23
Other Special Charges / (Income)	0.59	0.55	0.50	0.46	0.57	0.56	0.41	0.43	0.40	0.50	0.33
Total Other Income / (Expense), net	0.10	-0.06	0.10	0.35	0.11	1.58	0.13	0.10	0.12	0.08	0.14
Interest Expense	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02
Interest & Investment Income	0.05	0.03	0.12	0.11	0.13	0.12	0.08	0.11	0.12	0.09	0.09
Other Income / (Expense), net	0.05	-0.09	-	0.26	0.00	-	0.07	0.00	0.01	-	0.07
Income Tax Expense	0.07	0.07	0.07	0.07	-3.12	0.35	0.06	0.07	0.07	0.31	0.17
Basic Earnings per Share	($0.03)	-	($0.01)	$0.00	$0.10	$0.03	($0.01)	($0.01)	($0.02)	($0.05)	$0.00
Weighted Average Basic Shares Outstanding	26.38M	26.49M	26.38M	26.53M	27.32M	26.85M	26.62M	26.46M	26.89M	26.93M	27.75M
Diluted Earnings per Share	($0.03)	-	($0.01)	$0.00	$0.10	$0.03	($0.01)	($0.01)	($0.02)	($0.05)	$0.00
Weighted Average Diluted Shares Outstanding	26.38M	26.49M	26.38M	26.53M	27.32M	26.85M	26.62M	26.46M	26.89M	26.93M	27.75M
Weighted Average Basic & Diluted Shares Outstanding	26.31M	26.34M	26.43M	27.36M	27.13M	26.51M	26.61M	26.50M	27.31M	27.75M	27.60M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	1.26	0.06	-0.15	-4.44	-2.66	9.51	29	-19	8.73	-3.19	29
Net Cash From Operating Activities	2.09	0.85	-0.94	-2.76	-3.73	6.29	30	-17	3.51	2.90	1.51
Net Cash From Continuing Operating Activities	2.09	0.85	-0.94	-2.76	-3.73	6.29	30	-17	3.51	2.90	1.51
Net Income / (Loss) Continuing Operations	1.02	-1.20	-3.01	-3.78	-5.12	-2.91	-0.32	-5.48	-0.48	3.31	-2.51
Consolidated Net Income / (Loss)	1.02	-1.20	-3.01	-3.78	-5.12	-2.91	-0.32	-5.48	-0.48	3.31	-2.51
Depreciation Expense	0.47	0.74	0.76	0.88	1.02	0.52	0.77	1.20	1.21	2.26	1.95
Non-Cash Adjustments To Reconcile Net Income	1.11	1.53	0.25	-1.04	-1.07	1.14	-0.18	0.77	2.75	1.66	1.97
Changes in Operating Assets and Liabilities, net	-0.53	-0.39	0.56	0.17	0.40	6.50	28	-15	-0.85	-4.33	0.11
Net Cash From Investing Activities	-0.79	-0.36	-1.82	-0.70	-0.65	-6.76	-1.27	-0.81	-0.83	-0.94	-1.54
Net Cash From Continuing Investing Activities	-0.79	-0.36	-1.82	-0.70	-0.65	-6.76	-1.27	-0.81	-0.83	-0.94	-1.54
Purchase of Property, Plant & Equipment	-0.79	-0.16	-0.37	-0.70	-0.65	-0.86	-1.27	-0.81	-0.83	-0.99	-1.54
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	-	0.00	0.05	0.00
Net Cash From Financing Activities	-0.05	-0.43	2.61	-0.98	1.72	9.98	0.89	-1.40	6.06	-5.14	29
Net Cash From Continuing Financing Activities	-0.05	-0.43	2.61	-0.98	1.72	9.98	0.89	-1.40	6.06	-5.14	29
Repayment of Debt	-	-	-	-	-	0.00	-0.04	-0.05	-0.06	-0.11	-0.15
Repurchase of Common Equity	-0.05	-0.43	-0.11	-0.98	-0.07	-0.28	-0.24	-1.34	-0.46	-1.41	-1.07
Issuance of Debt	-	-	-	-	0.00	0.81	0.17	-	-	0.00	0.79
Issuance of Common Equity	-	0.00	2.73	0.00	1.79	10	1.00	-	0.00	0.10	0.09
Other Financing Activities, net	-	-	-	-	0.00	-0.81	-	-	6.57	-3.73	29
Cash Interest Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.05	0.05
Cash Income Taxes Paid	0.03	0.05	0.05	0.05	0.08	0.09	0.12	0.27	0.12	0.29	0.00

This table details how cash moves in and out of Usio'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	13	-32	-6.90	9.42	3.39	-9.11	4.64	-1.81	-9.06	35	-17
Net Cash From Operating Activities	14	-38	0.09	0.37	1.43	1.01	1.37	-0.26	0.30	0.10	0.95
Net Cash From Continuing Operating Activities	14	-38	0.09	0.37	1.43	1.01	1.37	-0.26	0.30	0.10	0.95
Net Income / (Loss) Continuing Operations	-0.72	0.03	-0.25	0.08	2.85	0.63	-0.23	-0.37	-0.42	-1.50	0.12
Consolidated Net Income / (Loss)	-0.72	0.03	-0.25	0.08	2.85	0.63	-0.23	-0.37	-0.42	-1.50	0.12
Depreciation Expense	0.30	0.30	0.36	0.77	0.58	0.56	0.50	0.68	0.43	0.55	0.23
Non-Cash Adjustments To Reconcile Net Income	0.80	0.80	0.45	-0.02	0.62	0.60	0.78	0.59	0.24	0.72	0.05
Changes in Operating Assets and Liabilities, net	13	-39	-0.69	-0.24	-2.62	-0.78	0.33	-0.95	0.05	0.32	0.55
Net Cash From Investing Activities	-0.20	-0.25	-0.18	-0.28	-0.24	-0.25	-0.31	-0.43	-0.39	-0.40	-0.61
Net Cash From Continuing Investing Activities	-0.20	-0.25	-0.18	-0.28	-0.24	-0.25	-0.31	-0.43	-0.39	-0.40	-0.61
Purchase of Property, Plant & Equipment	-0.20	-0.25	-0.18	-0.28	-0.24	-0.29	-0.31	-0.43	-0.39	-0.40	-0.61
Net Cash From Financing Activities	-0.06	6.17	-6.81	9.33	2.20	-9.87	3.58	-1.11	-8.98	35	-17
Net Cash From Continuing Financing Activities	-0.06	6.17	-6.81	9.33	2.20	-9.87	3.58	-1.11	-8.98	35	-17
Repayment of Debt	-0.01	-0.01	-0.01	-0.02	-0.03	-0.04	-0.04	-0.04	-0.04	-0.04	-0.04
Repurchase of Common Equity	-0.05	-0.39	-0.04	-0.10	-0.24	-1.01	-0.35	-0.36	-0.06	-0.30	-0.23
Issuance of Common Equity	-	-	0.00	0.01	0.04	0.05	0.01	0.03	0.03	0.02	0.01
Other Financing Activities, net	-	-	-6.75	9.45	2.44	-8.86	3.95	-0.75	-9.14	35	-17
Cash Interest Paid	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02
Cash Income Taxes Paid	-	-0.20	0.00	0.30	-	-0.01	0.00	0.44	-	-0.44	0.00

This table presents Usio'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	12/31/2024	12/31/2025
Total Assets	68	70	67	68	62	83	134	98	107	107	135
Total Current Assets	63	65	59	61	53	69	121	87	97	95	123
Cash & Equivalents	4.06	4.12	4.80	2.16	2.14	5.01	7.26	5.71	7.16	8.06	7.43
Accounts Receivable	1.14	0.91	0.97	1.21	1.27	2.86	4.98	4.37	5.56	6.55	5.27
Inventories, net	-	-	-	-	0.00	0.18	0.43	0.51	0.42	0.40	0.46
Prepaid Expenses	0.15	0.14	0.18	0.64	0.71	7.91	37	21	32	26	29
Other Current Assets	40	44	38	44	53	53	72	56	52	54	81
Plant, Property, & Equipment, net	3.08	2.49	2.11	1.93	1.56	3.11	3.61	3.22	3.66	3.19	4.16
Total Noncurrent Assets	2.17	2.19	6.38	5.38	6.96	10	8.82	7.28	6.03	8.86	7.32
Intangible Assets	0.34	0.17	4.68	3.68	2.68	6.04	4.16	2.63	1.75	0.88	0.01
Noncurrent Deferred & Refundable Income Taxes	1.62	1.62	1.39	1.39	1.39	1.39	1.50	1.50	1.50	4.58	4.53
Other Noncurrent Operating Assets	0.20	0.20	0.16	0.31	2.88	3.04	3.15	3.15	2.78	3.40	2.79
Total Liabilities & Shareholders' Equity	68	70	67	68	62	83	134	98	107	107	135
Total Liabilities	59	61	54	59	54	66	115	84	92	88	117
Total Current Liabilities	59	61	54	59	52	63	112	82	89	85	114
Short-Term Debt	-	-	-	-	-	0.35	0.56	0.67	0.74	0.15	0.29
Accounts Payable	0.14	0.15	0.30	0.31	0.42	0.85	1.40	0.86	1.03	1.26	0.88
Accrued Expenses	1.33	0.70	1.01	0.85	1.36	1.46	2.33	3.72	3.80	3.37	3.33
Customer Deposits	-	-	-	-	0.00	1.31	1.36	1.55	1.87	1.92	2.28
Other Current Liabilities	58	60	53	57	49	59	107	75	82	78	107
Total Noncurrent Liabilities	0.00	0.00	0.00	0.08	3.16	2.50	2.55	2.35	2.64	3.11	2.96
Long-Term Debt	-	-	-	-	-	0.00	0.07	0.01	0.72	0.57	1.07
Other Noncurrent Operating Liabilities	-	-	-	-	2.81	2.50	2.48	2.34	1.92	2.53	1.89
Commitments & Contingencies	-	-	-	-	-	-	-	-	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9.12	9.01	13	9.63	7.57	17	19	14	15	19	18
Total Preferred & Common Equity	9.12	9.01	13	9.63	7.57	17	19	14	15	19	18
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	9.12	9.01	13	9.63	7.57	17	19	14	15	19	18
Common Stock	64	64	74	75	77	90	93	94	98	100	102
Retained Earnings	-49	-50	-53	-57	-62	-65	-65	-71	-71	-68	-71
Treasury Stock	-0.29	-0.72	-0.83	-1.81	-1.89	-2.17	-2.40	-3.75	-4.36	-5.77	-6.84
Other Equity Adjustments	-6.03	-4.08	-7.01	-6.27	-5.64	-5.93	-6.84	-5.70	-6.91	-6.91	-7.10

This table presents Usio'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	131	99	109	115	110	108	99	120
Total Current Assets	121	90	100	102	98	97	88	107
Cash & Equivalents	7.40	7.05	7.50	8.39	8.72	7.51	7.75	7.73
Accounts Receivable	5.20	4.86	5.49	4.26	4.57	4.89	5.21	5.42
Inventories, net	0.40	0.43	0.41	0.40	0.35	0.38	0.34	0.39
Prepaid Expenses	60	29	29	23	15	14	11	17
Other Current Assets	49	48	58	66	69	70	64	76
Plant, Property, & Equipment, net	2.90	3.48	3.43	3.30	3.23	3.42	3.59	4.55
Total Noncurrent Assets	6.38	5.69	5.35	9.14	8.49	8.11	7.74	8.36
Intangible Assets	1.97	1.54	1.32	1.10	0.66	0.45	0.23	0.01
Noncurrent Deferred & Refundable Income Taxes	1.50	1.50	1.50	4.69	4.58	4.58	4.58	4.46
Other Noncurrent Operating Assets	2.91	2.65	2.52	3.35	3.24	3.09	2.93	3.89
Total Liabilities & Shareholders' Equity	131	99	109	115	110	108	99	120
Total Liabilities	116	84	93	96	91	90	81	102
Total Current Liabilities	114	81	91	93	88	87	78	98
Short-Term Debt	0.82	0.67	0.63	0.75	0.77	0.78	0.88	0.34
Accounts Payable	1.27	0.90	0.97	0.58	0.72	0.63	0.84	1.28
Accrued Expenses	4.15	2.78	3.21	2.88	2.71	2.56	2.72	4.05
Customer Deposits	1.58	1.81	1.81	1.82	1.91	1.99	1.94	2.24
Other Current Liabilities	106	75	84	87	82	81	72	90
Total Noncurrent Liabilities	1.89	2.59	2.46	3.14	2.90	2.70	2.64	3.78
Long-Term Debt	0.00	0.63	0.60	0.56	0.53	0.50	0.59	0.99
Other Noncurrent Operating Liabilities	1.89	1.96	1.86	2.57	2.37	2.21	2.04	2.79
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	15	15	16	19	19	19	19	18
Total Preferred & Common Equity	15	15	16	19	19	19	19	18
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	15	15	16	19	19	19	19	18
Common Stock	97	98	99	100	100	100	102	102
Retained Earnings	-71	-72	-72	-69	-68	-69	-69	-70
Treasury Stock	-3.97	-4.41	-4.51	-4.76	-6.12	-6.48	-6.54	-7.07
Other Equity Adjustments	-7.08	-6.56	-7.68	-7.30	-6.64	-6.37	-7.41	-6.85

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

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	12/31/2024	12/31/2025
DEI Shares Outstanding	12,374,537.00	12,242,959.00	13,615,343.00	15,943,624.00	16,906,853.00	24,759,545.00	24,973,775.00	25,324,198.00	26,307,286.00	27,130,334.00	27,307,839.00
DEI Adjusted Shares Outstanding	12,374,537.00	12,242,959.00	13,615,343.00	15,943,624.00	16,906,853.00	24,759,545.00	24,973,775.00	25,324,198.00	26,307,286.00	27,130,334.00	27,307,839.00
DEI Earnings Per Adjusted Shares Outstanding	0.08	-0.10	-0.22	-0.24	-0.30	-0.12	-0.01	-0.22	-0.02	0.12	-0.09
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.36%	-16.02%	20.66%	71.74%	12.69%	14.37%	92.06%	12.09%	21.08%	-1.35%	2.97%
EBITDA Growth	-35.25%	-123.84%	-338.51%	-19.82%	-60.70%	27.48%	214.61%	-197.38%	168.51%	50.26%	-116.14%
EBIT Growth	-55.78%	-224.59%	-124.80%	-33.12%	-35.00%	26.27%	95.87%	-3,261.94%	92.38%	167.28%	-980.75%
NOPAT Growth	-75.90%	-208.04%	-108.52%	-33.05%	-34.14%	25.80%	95.86%	-3,255.90%	91.42%	-2,188.15%	76.95%
Net Income Growth	-73.53%	-217.77%	-151.44%	-25.49%	-35.49%	43.19%	88.93%	-1,604.81%	91.34%	795.74%	-176.00%
EPS Growth	-80.49%	-287.50%	-120.00%	6.06%	-25.81%	51.28%	89.47%	-1,250.00%	92.59%	700.00%	-175.00%
Operating Cash Flow Growth	4.15%	-59.40%	-210.37%	-194.35%	-35.42%	268.63%	373.19%	-157.20%	120.59%	-17.43%	-47.73%
Free Cash Flow Firm Growth	121.70%	-225.35%	-111.26%	33.94%	-351.54%	74.45%	97.62%	-358.45%	-48.54%	-1,144.35%	82.58%
Invested Capital Growth	-12.91%	15.51%	39.02%	22.28%	291.63%	21.48%	0.04%	-25.99%	5.15%	26.10%	0.19%
Revenue Q/Q Growth	-0.70%	-6.01%	23.06%	3.31%	3.47%	6.66%	14.92%	1.88%	1.81%	0.44%	2.01%
EBITDA Q/Q Growth	-28.79%	-657.30%	-50.44%	10.48%	-24.31%	22.76%	74.12%	-13.17%	0.98%	109.11%	34.84%
EBIT Q/Q Growth	-44.87%	-51.05%	-38.64%	5.35%	-14.74%	18.24%	81.27%	-1.74%	14.25%	133.36%	-38.22%
NOPAT Q/Q Growth	-71.10%	-44.81%	-38.59%	5.38%	-13.99%	17.67%	-101.60%	-1.74%	25.98%	-1,177.46%	-140.38%
Net Income Q/Q Growth	-69.69%	-51.78%	-53.96%	10.04%	-14.60%	36.65%	-54.99%	-3.58%	27.12%	22.31%	-547.87%
EPS Q/Q Growth	-77.14%	-36.36%	-50.00%	20.51%	-14.71%	42.42%	-300.00%	0.00%	0.00%	33.33%	-800.00%
Operating Cash Flow Q/Q Growth	106.85%	-11.06%	-56.39%	-38.63%	2.42%	65.47%	186.47%	-894.10%	-92.59%	108.02%	-37.43%
Free Cash Flow Firm Q/Q Growth	119.59%	90.52%	28.10%	-68.56%	-19.54%	-173.65%	-130.66%	76.79%	-160.55%	-134.75%	-147.58%
Invested Capital Q/Q Growth	70.32%	16.04%	-15.81%	15.10%	55.32%	144.43%	6.02%	-10.97%	12.74%	-0.23%	-4.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.51%	31.33%	25.86%	22.26%	21.10%	22.87%	25.24%	21.02%	23.88%	23.65%	23.06%
EBITDA Margin	10.49%	-2.98%	-10.82%	-7.55%	-10.77%	-6.83%	4.08%	-3.54%	2.00%	3.05%	-0.48%
Operating Margin	6.58%	-11.27%	-19.47%	-15.08%	-17.95%	-11.65%	-0.25%	-7.51%	-0.53%	-1.77%	-2.76%
EBIT Margin	7.04%	-10.44%	-19.46%	-15.08%	-18.07%	-11.65%	-0.25%	-7.51%	-0.47%	0.32%	-2.76%
Profit (Net Income) Margin	7.07%	-9.91%	-20.65%	-15.09%	-18.14%	-9.01%	-0.52%	-7.90%	-0.57%	3.99%	-2.94%
Tax Burden Percent	93.10%	102.81%	110.03%	102.10%	102.03%	100.80%	211.92%	105.38%	260.22%	487.33%	125.65%
Interest Burden Percent	107.80%	92.28%	96.44%	97.97%	98.39%	76.74%	97.85%	99.79%	45.95%	253.72%	84.92%
Effective Tax Rate	6.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-387.33%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-149.58%	-23.96%	-0.90%	-34.83%	-3.42%	-67.62%	-13.96%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-124.36%	-0.16%	2.87%	-3.35%	-0.40%	-228.30%	-1.12%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	90.10%	0.02%	-0.92%	1.20%	0.15%	86.94%	0.41%
Return on Equity (ROE)	12.59%	-13.20%	-27.19%	-33.18%	-59.48%	-23.95%	-1.82%	-33.64%	-3.28%	19.32%	-13.55%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-187.95%	-43.36%	-0.94%	-4.96%	-8.45%	-90.71%	-14.15%
Operating Return on Assets (OROA)	1.56%	-1.83%	-4.14%	-5.57%	-7.85%	-5.21%	-0.14%	-4.50%	-0.39%	0.25%	-1.95%
Return on Assets (ROA)	1.57%	-1.74%	-4.39%	-5.57%	-7.88%	-4.03%	-0.30%	-4.74%	-0.46%	3.09%	-2.08%
Return on Common Equity (ROCE)	12.59%	-13.20%	-27.19%	-33.18%	-59.48%	-23.95%	-1.82%	-33.64%	-3.28%	19.32%	-13.55%
Return on Equity Simple (ROE_SIMPLE)	11.15%	-13.28%	-22.93%	-39.19%	-67.59%	-17.40%	-1.72%	-39.35%	-3.15%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.88	-0.95	-1.99	-2.64	-3.54	-2.63	-0.11	-3.65	-0.31	-7.17	-1.65
NOPAT Margin	6.13%	-7.89%	-13.63%	-10.56%	-12.57%	-8.15%	-0.18%	-5.26%	-0.37%	-8.64%	-1.93%
Net Nonoperating Expense Percent (NNEP)	0.66%	-1.16%	-5.15%	-6.56%	-25.22%	-23.80%	-3.77%	-31.48%	-3.02%	160.68%	-12.84%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-1.89%	-36.05%	-8.57%
Cost of Revenue to Revenue	65.49%	68.67%	74.14%	77.74%	78.90%	77.13%	74.76%	78.98%	76.12%	76.35%	76.94%
SG&A Expenses to Revenue	16.75%	26.40%	30.05%	24.84%	27.29%	25.24%	18.81%	21.61%	19.29%	20.17%	21.50%
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	27.93%	42.59%	45.33%	37.34%	39.05%	34.52%	25.49%	28.53%	24.41%	25.42%	25.82%
Earnings before Interest and Taxes (EBIT)	1.01	-1.26	-2.84	-3.77	-5.10	-3.76	-0.16	-5.21	-0.40	0.27	-2.35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.51	-0.36	-1.58	-1.89	-3.04	-2.20	2.52	-2.46	1.68	2.53	-0.41
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.70	2.51	2.62	2.75	3.48	3.96	5.83	3.00	3.00	2.07	2.07
Price to Tangible Book Value (P/TBV)	2.81	2.56	4.08	4.44	5.39	6.20	7.51	3.69	3.40	2.17	2.07
Price to Revenue (P/Rev)	1.71	1.88	2.36	1.06	0.94	2.05	1.76	0.60	0.54	0.48	0.43
Price to Earnings (P/E)	24.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.98	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	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.35%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	2.48	5.10	8.49	4.12	4.22	2.73	2.62
Enterprise Value to Revenue (EV/Rev)	0.18	0.23	1.01	0.47	0.87	1.91	1.65	0.53	0.47	0.39	0.36
Enterprise Value to EBITDA (EV/EBITDA)	1.72	0.00	0.00	0.00	0.00	0.00	40.51	0.00	23.49	12.75	0.00
Enterprise Value to EBIT (EV/EBIT)	2.56	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	120.72	0.00
Enterprise Value to NOPAT (EV/NOPAT)	2.94	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)	1.24	3.21	0.00	0.00	0.00	9.76	3.43	0.00	11.28	11.14	20.52
Enterprise Value to Free Cash Flow (EV/FCFF)	1.10	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	0.00	0.00	0.05	0.02	0.03	0.05	0.10	0.04	0.08
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.05	0.00	0.00	0.00	0.05	0.03	0.06
Financial Leverage	-2.51	-2.31	-1.79	-1.52	-0.72	-0.10	-0.32	-0.36	-0.37	-0.38	-0.36
Leverage Ratio	8.02	7.61	6.19	5.96	7.54	5.94	6.12	7.10	7.06	6.26	6.53
Compound Leverage Factor	8.65	7.02	5.97	5.84	7.42	4.56	5.99	7.09	3.25	15.87	5.55
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	4.49%	2.03%	3.27%	4.71%	8.83%	3.62%	7.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	2.03%	2.90%	4.61%	4.48%	0.74%	1.50%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	4.49%	0.00%	0.37%	0.10%	4.35%	2.88%	5.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	95.51%	97.97%	96.73%	95.29%	91.17%	96.38%	92.92%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.12	-0.16	0.25	-0.28	0.87	0.28	-3.34
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.59	2.12	-2.62	2.04	-3.38	-2.90	14.86
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.12	0.00	0.03	-0.01	0.43	0.23	-2.63
Debt to NOPAT	0.00	0.00	0.00	0.00	-0.10	-0.13	-5.79	-0.19	-4.66	-0.10	-0.83
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.50	1.77	60.91	1.38	18.19	1.02	3.68
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-0.10	0.00	-0.66	0.00	-2.30	-0.08	-0.65
Altman Z-Score	-0.43	-0.60	-0.56	-0.67	-0.91	-0.18	0.42	-0.11	0.23	0.28	0.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.07	1.07	1.09	1.04	1.03	1.09	1.08	1.07	1.09	1.12	1.08
Quick Ratio	0.09	0.08	0.11	0.06	0.07	0.12	0.11	0.12	0.14	0.17	0.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2.36	-2.96	-6.24	-4.13	-19	-4.76	-0.11	-0.52	-0.77	-9.61	-1.67
Operating Cash Flow to CapEx	266.04%	545.44%	-251.51%	-392.03%	-576.58%	735.85%	2,339.67%	-2,097.46%	420.10%	306.68%	98.46%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-26.29	-128.37	-148.49	-178.65	-32.15
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	6,904.25	-4,205.50	674.30	53.83	29.06
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	6,609.15	-4,406.00	513.79	36.28	-0.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.18	0.21	0.37	0.43	0.45	0.57	0.60	0.82	0.77	0.71
Accounts Receivable Turnover	13.24	11.82	15.52	22.92	22.67	15.59	15.80	14.85	16.92	13.69	14.45
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	151.59	116.44	137.59	153.20	151.83
Fixed Asset Turnover	4.97	4.33	6.34	12.39	16.16	13.83	18.45	20.33	24.43	24.20	23.23
Accounts Payable Turnover	104.07	57.55	48.47	63.90	61.13	39.14	41.14	48.55	67.73	55.35	61.48
Days Sales Outstanding (DSO)	27.57	30.88	23.51	15.93	16.10	23.41	23.11	24.58	21.57	26.65	25.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	2.41	3.13	2.65	2.38	2.40
Days Payable Outstanding (DPO)	3.51	6.34	7.53	5.71	5.97	9.33	8.87	7.52	5.39	6.59	5.94
Cash Conversion Cycle (CCC)	24.06	24.53	15.98	10.22	10.13	14.09	16.64	20.20	18.83	22.44	21.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-13	-11	-6.65	-5.17	9.91	12	12	8.91	9.37	12	12
Invested Capital Turnover	-1.18	-1.01	-1.66	-4.23	11.90	2.94	5.14	6.63	9.19	7.83	7.22
Increase / (Decrease) in Invested Capital	-1.48	2.00	4.26	1.48	15	2.13	0.00	-3.13	0.46	2.45	0.02
Enterprise Value (EV)	2.59	2.73	15	12	25	61	102	37	40	32	31
Market Capitalization	25	23	34	26	26	66	109	42	45	40	37
Book Value per Share	$0.74	$0.74	$0.96	$0.60	$0.45	$0.67	$0.75	$0.55	$0.57	$0.71	$0.66
Tangible Book Value per Share	$0.71	$0.72	$0.62	$0.37	$0.29	$0.43	$0.58	$0.45	$0.51	$0.67	$0.66
Total Capital	9.12	9.01	13	9.63	7.92	17	19	15	17	20	19
Total Debt	0.00	0.00	0.00	0.00	0.36	0.35	0.63	0.69	1.46	0.72	1.36
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.36	0.00	0.07	0.01	0.72	0.57	1.07
Net Debt	-22	-20	-20	-15	-1.78	-4.66	-6.63	-5.02	-5.70	-7.34	-6.07
Capital Expenditures (CapEx)	0.79	0.16	0.37	0.70	0.65	0.86	1.27	0.81	0.83	0.94	1.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-18	-15	-15	-12	-0.80	0.96	2.10	0.75	1.60	2.30	2.25
Debt-free Net Working Capital (DFNWC)	3.87	4.52	4.79	2.40	1.34	5.97	9.35	6.46	8.75	10	9.68
Net Working Capital (NWC)	3.87	4.52	4.79	2.40	1.34	5.62	8.79	5.79	8.01	10	9.39
Net Nonoperating Expense (NNE)	-0.13	0.24	1.02	1.13	1.57	0.28	0.21	1.83	0.16	-10	0.86
Net Nonoperating Obligations (NNO)	-22	-20	-20	-15	2.34	-4.66	-6.63	-5.02	-5.70	-7.34	-6.07
Total Depreciation and Amortization (D&A)	0.50	0.90	1.26	1.88	2.06	1.55	2.68	2.76	2.08	2.26	1.95
Debt-free, Cash-free Net Working Capital to Revenue	-126.28%	-127.54%	-102.86%	-49.56%	-2.85%	2.98%	3.39%	1.08%	1.90%	2.77%	2.63%
Debt-free Net Working Capital to Revenue	26.93%	37.45%	32.87%	9.61%	4.73%	18.51%	15.10%	9.30%	10.41%	12.49%	11.34%
Net Working Capital to Revenue	26.93%	37.45%	32.87%	9.61%	4.73%	17.44%	14.20%	8.33%	9.53%	12.31%	11.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	($0.15)	($0.33)	($0.31)	($0.39)	($0.19)	($0.02)	($0.27)	($0.02)	$0.12	($0.09)
Adjusted Weighted Average Basic Shares Outstanding	7.39M	7.84M	9.00M	12.13M	12.96M	15.43M	20.03M	20.38M	20.11M	26.85M	26.93M
Adjusted Diluted Earnings per Share	$0.08	($0.15)	($0.33)	($0.31)	($0.39)	($0.19)	($0.02)	($0.27)	($0.02)	$0.12	($0.09)
Adjusted Weighted Average Diluted Shares Outstanding	11.99M	7.84M	9.00M	12.13M	12.96M	15.43M	20.03M	20.38M	20.11M	26.85M	26.93M
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	12.41M	11.80M	15.87M	16.86M	17.14M	25.03M	25.53M	26.39M	26.34M	26.51M	27.75M
Normalized Net Operating Profit after Tax (NOPAT)	2.07	-0.03	-1.31	-1.77	-2.64	-1.60	0.93	-2.20	1.24	0.44	-0.43
Normalized NOPAT Margin	14.39%	-0.27%	-8.98%	-7.06%	-9.36%	-4.95%	1.51%	-3.17%	1.48%	0.53%	-0.50%
Pre Tax Income Margin	7.59%	-9.64%	-18.77%	-14.78%	-17.78%	-8.94%	-0.25%	-7.49%	-0.22%	0.82%	-2.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-35.95	-1,287.20	-76.39	4.97	-45.21
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-25.21	-901.04	-60.20	-133.18	-31.71
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-331.05	-1,487.70	-236.90	-12.58	-74.73
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-320.31	-1,101.54	-220.71	-150.74	-61.23
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	4.75%	-36.08%	-3.75%	-26.02%	-1.41%	-9.64%	-74.23%	-24.52%	-96.18%	42.61%	-42.45%

This table displays calculated financial ratios and metrics derived from Usio'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	26,385,331.00	26,307,286.00	26,342,459.00	26,430,824.00	27,361,329.00	27,130,334.00	26,514,356.00	26,605,906.00	26,495,782.00	27,307,839.00	27,746,208.00
DEI Adjusted Shares Outstanding	26,385,331.00	26,307,286.00	26,342,459.00	26,430,824.00	27,361,329.00	27,130,334.00	26,514,356.00	26,605,906.00	26,495,782.00	27,307,839.00	27,746,208.00
DEI Earnings Per Adjusted Shares Outstanding	-0.03	0.00	-0.01	0.00	0.10	0.02	-0.01	-0.01	-0.02	-0.05	0.01
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	27.98%	7.99%	-2.22%	-6.33%	1.61%	1.78%	4.95%	-0.59%	-0.66%	8.19%	15.71%
EBITDA Growth	82.79%	3.40%	-52.26%	8.57%	213.95%	-109.52%	9.91%	-65.09%	-112.71%	-1,394.98%	60.85%
EBIT Growth	58.80%	71.72%	-386.95%	-77.25%	46.22%	-2,215.96%	38.85%	-856.54%	-21.91%	-108.84%	270.74%
NOPAT Growth	55.91%	128.17%	-21,916.06%	-162.83%	49.80%	-2,265.31%	15.03%	-156.31%	-23.24%	-127.27%	156.01%
Net Income Growth	59.27%	117.19%	-1,786.70%	-63.18%	495.51%	2,325.01%	6.08%	-585.69%	-114.56%	-337.81%	152.14%
EPS Growth	66.67%	0.00%	0.00%	-100.00%	433.33%	0.00%	0.00%	0.00%	-120.00%	-266.67%	100.00%
Operating Cash Flow Growth	1,985.42%	-754.59%	142.77%	-98.68%	-89.57%	102.65%	1,449.96%	-171.49%	-78.80%	-90.09%	-31.11%
Free Cash Flow Firm Growth	651.44%	-114.39%	-163.15%	-116.85%	-423.58%	-542.12%	-54.14%	-816.40%	76.41%	68.10%	96.86%
Invested Capital Growth	-16.97%	5.15%	15.05%	2.78%	42.50%	26.10%	21.60%	32.34%	4.82%	0.19%	1.41%
Revenue Q/Q Growth	-2.12%	-3.73%	3.81%	-4.25%	6.18%	-3.57%	7.05%	-9.31%	6.11%	5.02%	14.49%
EBITDA Q/Q Growth	-124.11%	372.90%	-40.67%	178.14%	-74.70%	-122.80%	784.84%	11.49%	-109.22%	-2,581.37%	173.69%
EBIT Q/Q Growth	-403.56%	96.28%	-983.28%	118.61%	-817.81%	-60.04%	71.40%	-65.69%	-15.67%	-174.16%	123.38%
NOPAT Q/Q Growth	-404.38%	103.41%	-1,202.21%	45.07%	-143.19%	-47.06%	56.75%	-65.69%	-16.93%	-171.21%	110.66%
Net Income Q/Q Growth	-451.59%	103.60%	-1,064.67%	130.17%	3,676.91%	-77.94%	-137.36%	-56.04%	-13.21%	-260.32%	108.19%
EPS Q/Q Growth	-400.00%	0.00%	0.00%	100.00%	0.00%	-70.00%	-133.33%	0.00%	-100.00%	-150.00%	100.00%
Operating Cash Flow Q/Q Growth	-50.90%	-376.63%	100.23%	316.32%	288.32%	-29.87%	36.71%	-119.20%	215.14%	-67.22%	850.56%
Free Cash Flow Firm Q/Q Growth	-45.63%	-137.61%	-226.94%	74.79%	-943.86%	25.36%	21.52%	-49.87%	73.12%	-0.91%	92.28%
Invested Capital Q/Q Growth	-9.56%	12.74%	1.58%	-0.77%	25.40%	-0.23%	-2.04%	8.00%	-0.68%	-4.64%	-0.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.19%	26.38%	23.15%	23.90%	22.96%	24.63%	21.85%	25.75%	22.99%	21.91%	20.17%
EBITDA Margin	-0.87%	2.45%	1.40%	4.08%	0.97%	-0.23%	1.47%	1.43%	-0.12%	-3.17%	2.04%
Operating Margin	-3.58%	0.33%	-1.34%	-1.04%	-1.77%	-2.93%	-1.09%	-1.99%	-2.19%	-5.66%	0.89%
EBIT Margin	-3.34%	-0.13%	-1.34%	0.26%	-1.77%	-2.93%	-0.78%	-1.99%	-2.17%	-5.66%	1.16%
Profit (Net Income) Margin	-3.44%	0.13%	-1.19%	0.38%	13.37%	3.06%	-1.07%	-1.84%	-1.96%	-6.72%	0.48%
Tax Burden Percent	110.75%	27.03%	138.85%	51.89%	-1,076.82%	64.32%	136.28%	123.12%	119.95%	126.40%	41.61%
Interest Burden Percent	92.95%	-368.58%	63.91%	277.28%	70.30%	-162.20%	100.00%	75.02%	75.36%	93.99%	100.00%
Effective Tax Rate	0.00%	72.97%	0.00%	48.11%	0.00%	35.68%	0.00%	0.00%	0.00%	0.00%	58.39%
Return on Invested Capital (ROIC)	-22.56%	0.82%	-8.84%	-4.76%	-10.13%	-14.76%	-6.07%	-10.64%	-10.58%	-28.60%	2.81%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.85%	0.67%	-7.96%	-7.79%	-55.75%	-30.36%	-5.04%	-9.21%	-9.23%	-19.43%	2.40%
Return on Net Nonoperating Assets (RNNOA)	6.89%	-0.25%	3.19%	3.07%	22.51%	11.56%	1.94%	3.34%	3.28%	7.03%	-0.89%
Return on Equity (ROE)	-15.66%	0.57%	-5.65%	-1.69%	12.38%	-3.20%	-4.13%	-7.29%	-7.31%	-21.57%	1.92%
Cash Return on Invested Capital (CROIC)	13.92%	-8.45%	-19.78%	-11.56%	-40.62%	-90.71%	-85.01%	-202.42%	29.01%	-14.15%	-12.78%
Operating Return on Assets (OROA)	-2.47%	-0.11%	-1.18%	0.19%	-1.19%	-2.27%	-0.63%	-1.54%	-1.70%	-3.99%	0.89%
Return on Assets (ROA)	-2.54%	0.11%	-1.05%	0.27%	9.01%	2.37%	-0.86%	-1.42%	-1.53%	-4.74%	0.37%
Return on Common Equity (ROCE)	-15.66%	0.57%	-5.65%	-1.69%	12.38%	-3.20%	-4.13%	-7.29%	-7.31%	-21.57%	1.92%
Return on Equity Simple (ROE_SIMPLE)	-4.38%	0.00%	-4.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.53	0.02	-0.20	-0.11	-0.26	-0.39	-0.17	-0.28	-0.32	-0.88	0.09
NOPAT Margin	-2.50%	0.09%	-0.94%	-0.54%	-1.24%	-1.89%	-0.76%	-1.39%	-1.53%	-3.96%	0.37%
Net Nonoperating Expense Percent (NNEP)	-3.71%	0.15%	-0.89%	3.03%	45.62%	15.60%	-1.02%	-1.42%	-1.35%	-9.17%	0.41%
Return On Investment Capital (ROIC_SIMPLE)	-	0.11%	-1.19%	-0.64%	-1.30%	-1.95%	-0.83%	-1.39%	-1.61%	-4.57%	0.48%
Cost of Revenue to Revenue	77.81%	73.62%	76.85%	76.10%	77.04%	75.37%	78.15%	74.25%	77.01%	78.09%	79.83%
SG&A Expenses to Revenue	20.46%	20.77%	19.36%	19.92%	19.32%	22.12%	18.82%	23.24%	21.25%	22.84%	17.11%
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	25.77%	26.05%	24.49%	24.94%	24.73%	27.57%	22.94%	27.74%	25.18%	27.57%	19.29%
Earnings before Interest and Taxes (EBIT)	-0.70	-0.03	-0.28	0.05	-0.38	-0.60	-0.17	-0.40	-0.46	-1.26	0.29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.18	0.50	0.29	0.82	0.21	-0.05	0.32	0.29	-0.03	-0.71	0.52
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.10	3.00	2.93	2.57	1.97	2.07	2.04	2.17	2.01	2.07	1.74
Price to Tangible Book Value (P/TBV)	3.58	3.40	3.26	2.81	2.09	2.17	2.11	2.23	2.04	2.07	1.74
Price to Revenue (P/Rev)	0.56	0.54	0.54	0.49	0.45	0.48	0.46	0.49	0.45	0.43	0.36
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	14.26	11.98	11.43	14.14	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%	7.01%	8.35%	8.75%	7.07%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.76	4.22	4.10	3.62	2.54	2.73	2.70	2.76	2.52	2.62	2.15
Enterprise Value to Revenue (EV/Rev)	0.48	0.47	0.47	0.42	0.36	0.39	0.37	0.41	0.37	0.36	0.28
Enterprise Value to EBITDA (EV/EBITDA)	23.74	23.49	27.79	61.74	24.89	12.75	32.17	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	120.72	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	7.67	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.84	11.28	10.26	0.00	0.00	11.14	7.48	9.72	12.96	20.52	23.22
Enterprise Value to Free Cash Flow (EV/FCFF)	31.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.91	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.10	0.09	0.08	0.07	0.04	0.07	0.07	0.08	0.08	0.07
Long-Term Debt to Equity	0.00	0.05	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.06	0.05
Financial Leverage	-0.37	-0.37	-0.40	-0.39	-0.40	-0.38	-0.38	-0.36	-0.36	-0.36	-0.37
Leverage Ratio	7.72	7.06	6.39	7.46	7.25	6.26	6.09	6.30	5.69	6.53	6.19
Compound Leverage Factor	7.17	-26.03	4.08	20.69	5.10	-10.15	6.09	4.73	4.29	6.14	6.19
Debt to Total Capital	5.25%	8.83%	7.86%	7.27%	6.47%	3.62%	6.43%	6.38%	7.32%	7.08%	6.81%
Short-Term Debt to Total Capital	5.25%	4.48%	4.05%	3.75%	3.68%	0.74%	3.80%	3.91%	4.37%	1.50%	1.73%
Long-Term Debt to Total Capital	0.00%	4.35%	3.81%	3.52%	2.78%	2.88%	2.63%	2.48%	2.95%	5.58%	5.07%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	94.75%	91.17%	92.14%	92.73%	93.53%	96.38%	93.57%	93.62%	92.68%	92.92%	93.19%
Debt to EBITDA	0.49	0.87	0.93	2.23	1.08	0.28	1.34	-3.29	-2.36	-3.34	-6.26
Net Debt to EBITDA	-3.94	-3.38	-4.10	-11.32	-5.85	-2.90	-7.62	16.04	10.00	14.86	30.26
Long-Term Debt to EBITDA	0.00	0.43	0.45	1.08	0.47	0.23	0.55	-1.28	-0.95	-2.63	-4.67
Debt to NOPAT	-1.95	-4.66	-2.53	-1.50	-2.33	-0.10	-0.19	-0.07	0.36	-0.83	-1.00
Net Debt to NOPAT	15.53	18.19	11.17	7.62	12.63	1.02	1.07	0.33	-1.53	3.68	4.83
Long-Term Debt to NOPAT	0.00	-2.30	-1.23	-0.73	-1.00	-0.08	-0.08	-0.03	0.15	-0.65	-0.75
Altman Z-Score	0.16	0.24	0.25	0.20	0.21	0.25	0.26	0.26	0.25	0.14	0.20
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.07	1.09	1.11	1.10	1.10	1.12	1.12	1.11	1.13	1.08	1.09
Quick Ratio	0.11	0.14	0.15	0.14	0.14	0.17	0.15	0.14	0.17	0.11	0.13
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1.17	-0.44	-1.44	-0.36	-3.80	-2.83	-2.22	-3.33	-0.90	-0.90	-0.07
Operating Cash Flow to CapEx	6,908.74%	-15,352.20%	50.16%	132.63%	589.32%	342.35%	438.69%	-60.82%	77.55%	25.00%	154.29%
Free Cash Flow to Firm to Interest Expense	2,986.07	-122.13	-106.23	-25.53	-277.17	-231.05	-187.82	-284.07	-79.09	-52.63	-3.06
Operating Cash Flow to Interest Expense	34,952.07	-10,514.30	6.53	25.90	104.62	81.94	116.04	-22.49	26.82	5.80	41.48
Operating Cash Flow Less CapEx to Interest Expense	34,446.16	-10,582.79	-6.48	6.37	86.87	58.01	89.59	-59.46	-7.77	-17.40	14.59
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.82	0.88	0.72	0.67	0.77	0.80	0.77	0.78	0.71	0.77
Accounts Receivable Turnover	18.82	16.92	16.58	15.35	17.46	13.69	17.81	16.15	17.68	14.45	17.79
Inventory Turnover	153.75	137.59	137.58	140.79	156.57	153.20	165.54	162.40	173.04	151.83	185.68
Fixed Asset Turnover	26.16	24.43	25.26	25.56	26.60	24.20	25.03	24.50	24.27	23.23	22.85
Accounts Payable Turnover	66.92	67.73	72.72	66.54	67.62	55.35	79.93	79.88	89.91	61.48	69.17
Days Sales Outstanding (DSO)	19.39	21.57	22.01	23.78	20.91	26.65	20.50	22.61	20.64	25.27	20.52
Days Inventory Outstanding (DIO)	2.37	2.65	2.65	2.59	2.33	2.38	2.20	2.25	2.11	2.40	1.97
Days Payable Outstanding (DPO)	5.45	5.39	5.02	5.49	5.40	6.59	4.57	4.57	4.06	5.94	5.28
Cash Conversion Cycle (CCC)	16.31	18.83	19.64	20.89	17.84	22.44	18.14	20.28	18.69	21.73	17.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8.31	9.37	9.52	9.45	12	12	12	13	12	12	12
Invested Capital Turnover	9.01	9.19	9.39	8.82	8.19	7.83	7.96	7.64	6.90	7.22	7.62
Increase / (Decrease) in Invested Capital	-1.70	0.46	1.25	0.26	3.53	2.45	2.06	3.06	0.57	0.02	0.16
Enterprise Value (EV)	40	40	39	34	30	32	31	34	31	31	25
Market Capitalization	46	45	45	40	37	40	39	41	38	37	32
Book Value per Share	$0.56	$0.57	$0.58	$0.59	$0.69	$0.71	$0.72	$0.70	$0.71	$0.66	$0.65
Tangible Book Value per Share	$0.49	$0.51	$0.52	$0.54	$0.65	$0.67	$0.69	$0.69	$0.70	$0.66	$0.65
Total Capital	16	17	17	17	20	20	20	20	20	19	19
Total Debt	0.82	1.46	1.30	1.23	1.31	0.72	1.30	1.28	1.48	1.36	1.33
Total Long-Term Debt	0.00	0.72	0.63	0.60	0.56	0.57	0.53	0.50	0.59	1.07	0.99
Net Debt	-6.57	-5.70	-5.75	-6.27	-7.08	-7.34	-7.41	-6.23	-6.27	-6.07	-6.40
Capital Expenditures (CapEx)	0.20	0.25	0.18	0.28	0.24	0.29	0.31	0.43	0.39	0.40	0.61
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.92	1.60	2.30	2.54	1.97	2.30	2.23	3.18	3.13	2.25	1.63
Debt-free Net Working Capital (DFNWC)	8.32	8.75	9.36	10	10	10	11	11	11	9.68	9.36
Net Working Capital (NWC)	7.49	8.01	8.69	9.40	9.62	10	10	9.91	10.00	9.39	9.02
Net Nonoperating Expense (NNE)	0.20	-0.01	0.05	-0.18	-3.11	-1.02	0.07	0.09	0.09	0.61	-0.03
Net Nonoperating Obligations (NNO)	-6.57	-5.70	-5.75	-6.27	-7.08	-7.34	-7.41	-6.23	-6.27	-6.07	-6.40
Total Depreciation and Amortization (D&A)	0.52	0.52	0.58	0.77	0.58	0.56	0.50	0.68	0.43	0.55	0.23
Debt-free, Cash-free Net Working Capital to Revenue	1.11%	1.90%	2.76%	3.09%	2.39%	2.77%	2.65%	3.79%	3.74%	2.63%	1.84%
Debt-free Net Working Capital to Revenue	10.07%	10.41%	11.20%	12.20%	12.55%	12.49%	13.03%	12.75%	12.99%	11.34%	10.53%
Net Working Capital to Revenue	9.07%	9.53%	10.39%	11.43%	11.65%	12.31%	12.12%	11.81%	11.94%	11.00%	10.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.04)	$0.00	($0.01)	$0.00	$0.10	$0.03	($0.01)	($0.01)	($0.02)	($0.05)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	20.10M	26.49M	46.37M	26.53M	27.32M	26.85M	26.62M	26.46M	26.89M	26.93M	27.75M
Adjusted Diluted Earnings per Share	($0.04)	$0.00	($0.01)	$0.00	$0.10	$0.03	($0.01)	($0.01)	($0.02)	($0.05)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	20.10M	26.49M	26.38M	26.53M	27.32M	26.85M	26.62M	26.46M	26.89M	26.93M	27.75M
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	26.31M	26.34M	26.43M	27.36M	27.13M	26.51M	26.61M	26.50M	27.31M	27.75M	27.60M
Normalized Net Operating Profit after Tax (NOPAT)	-0.11	0.43	0.15	0.13	0.14	-0.02	0.12	0.03	-0.05	-0.53	0.39
Normalized NOPAT Margin	-0.52%	2.12%	0.73%	0.65%	0.63%	-0.12%	0.54%	0.13%	-0.21%	-2.39%	1.53%
Pre Tax Income Margin	-3.10%	0.47%	-0.86%	0.72%	-1.24%	4.76%	-0.78%	-1.49%	-1.63%	-5.32%	1.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1,781.91	-7.20	-20.76	3.68	-27.49	-49.14	-14.56	-33.83	-40.53	-73.29	12.90
NOPAT to Interest Expense	-1,336.39	4.95	-14.53	-7.61	-19.24	-31.61	-14.16	-23.68	-28.68	-51.30	4.12
EBIT Less CapEx to Interest Expense	-2,287.82	-75.69	-33.77	-15.85	-45.25	-73.07	-41.01	-70.80	-75.12	-96.48	-13.99
NOPAT Less CapEx to Interest Expense	-1,842.30	-63.53	-27.54	-27.14	-37.00	-55.54	-40.61	-60.66	-63.27	-74.50	-22.77
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	-79.60%	-96.18%	-66.64%	-67.58%	28.93%	42.61%	51.65%	68.33%	-459.16%	-42.45%	-44.01%

Financials Breakdown Chart

Key Financial Trends

Usio’s latest quarter shows a meaningful improvement in profitability, but the balance sheet remains highly leveraged to current liabilities. In Q1 2026, revenue grew year over year, operating income turned positive again, and the company generated solid operating cash flow. At the same time, most of Usio’s liabilities are short-term, and a large “other current liabilities” balance continues to dominate the balance sheet, which adds risk for retail investors.

Revenue grew year over year. Q1 2026 revenue rose to $25.5 million from $22.0 million in Q1 2025, showing continued top-line expansion.
Operating profit improved sharply. Usio posted $225,712 of operating income in Q1 2026 versus an operating loss of $239,584 in Q1 2025, a clear operational turnaround.
Net income was positive. Q1 2026 consolidated net income came in at $122,503, a big improvement from the prior-year quarter’s loss.
Operating cash flow was healthy. The company generated $946,724 in cash from operations in Q1 2026, up from $303,830 in Q3 2025 and better than several earlier loss-making quarters.
Interest income helped support earnings. Usio earned $91,491 of interest and investment income in Q1 2026, which helped offset interest expense and boost pre-tax results.
Debt levels remain relatively modest in absolute terms. Total debt was about $1.3 million at quarter-end, with long-term debt under $1 million.
Cash declined sharply from the prior quarter. Cash and equivalents fell to $7.7 million from $24.5 million at year-end 2025, largely reflecting financing and other balance sheet activity.
Working capital is heavily tied up in “other current assets” and prepaid items. These balances are large, but they are less liquid than cash and can make the current asset picture look stronger than it really is.
Current liabilities remain very high. Usio had $98.3 million in current liabilities versus $107.3 million in current assets, leaving only a thin margin of safety and a current ratio near 1.1x.
“Other current liabilities” is the biggest red flag. That line item alone was $90.4 million in Q1 2026 and accounts for most of the company’s short-term obligations.

Four-year trend: Usio’s revenue has generally held in the low- to mid-$20 million range per quarter, but profitability has been volatile. The company swung from a strong profit in late 2024 to losses in 2025, then back to a small profit in Q1 2026. Gross margin has been relatively stable around the low-20% range, while operating expenses have been the main swing factor in earnings.

Balance sheet trend: Equity has improved from the low-to-mid teens millions in 2024 to $18.1 million in Q1 2026, but that improvement sits on top of a large liability base. The balance sheet is still dominated by short-term obligations, which means execution and cash generation remain critical.

Bottom line: Usio is showing signs of operational recovery, and Q1 2026 was encouraging on earnings and cash flow. However, the company’s balance sheet structure is still the key concern. Investors will likely want to see several more quarters of positive operating income and cash flow before assigning a more durable valuation premium.

07/17/26 01:08 PM ETAI Generated. May Contain Errors.

Usio Financials - Frequently Asked Questions

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

Usio's net income appears to be on a downward trend, with a most recent value of -$2.51 million in 2025, falling from $1.02 million in 2015. The previous period was $3.31 million in 2024. View Usio's forecast to see where analysts expect Usio to go next.

Usio's total operating income in 2025 was -$2.36 million, based on the following breakdown:

Total Gross Profit: $19.69 million
Total Operating Expenses: $22.05 million

Over the last 10 years, Usio's total revenue changed from $14.38 million in 2015 to $85.39 million in 2025, a change of 493.8%.

Usio's total liabilities were at $116.98 million at the end of 2025, a 32.9% increase from 2024, and a 97.5% increase since 2015.

In the past 10 years, Usio's cash and equivalents has ranged from $2.14 million in 2019 to $8.06 million in 2024, and is currently $7.43 million as of their latest financial filing in 2025.

Over the last 10 years, Usio's book value per share changed from 0.74 in 2015 to 0.66 in 2025, a change of -11.0%.

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

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Usio (USIO) Financials

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Usio (USIO) Financials

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