Proshares Morningstar Alts Solu Financials
This page shows Proshares Morningstar Alts Solu (ALTS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 reads as a capital-funded balance-sheet expansion, while the core operating model still consumed cash.
From FY2024 to FY2025, assets expanded from$75.7M to$1.2B , which means the company’s larger footprint was built mainly with new capital rather than new borrowing. That reading fits the cash-flow shape:$716.8M of financing inflow was almost matched by-$706.6M of investing outflow, so the headline scale change was financial repositioning more than operating self-funding.
The income statement did not improve with the bigger balance sheet; revenue rose to
Liquidity stayed tighter than the enlarged asset base suggests: cash ended FY2025 at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Proshares Morningstar Alts Solu's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Proshares Morningstar Alts Solu has an operating margin of -92.0%, meaning the company retains $-92 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -55.2% the prior year.
Proshares Morningstar Alts Solu carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Proshares Morningstar Alts Solu's current ratio of 0.57 is below the typical benchmark, resulting in a score of 6/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Proshares Morningstar Alts Solu generated -$7.2M in operating cash flow, capex of $11K consumed most of it, leaving -$7.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Proshares Morningstar Alts Solu generates a -29.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -60.8% the prior year.
Proshares Morningstar Alts Solu passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Proshares Morningstar Alts Solu generates $0.02 in operating cash flow (-$7.2M OCF vs -$344.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Proshares Morningstar Alts Solu generated $24.8M in revenue in fiscal year 2025. This represents an increase of 98.2% from the prior year.
Proshares Morningstar Alts Solu's EBITDA was -$19.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 248.0% from the prior year.
Proshares Morningstar Alts Solu reported -$344.5M in net income in fiscal year 2025. This represents a decrease of 4452.2% from the prior year.
Proshares Morningstar Alts Solu earned $-5.91 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 769.1% from the prior year.
Cash & Balance Sheet
Proshares Morningstar Alts Solu generated -$7.2M in free cash flow in fiscal year 2025, representing cash available after capex.
Proshares Morningstar Alts Solu held $6.2M in cash against $563K in long-term debt as of fiscal year 2025.
Proshares Morningstar Alts Solu had 126M shares outstanding in fiscal year 2025. This represents an increase of 718.5% from the prior year.
Margins & Returns
Proshares Morningstar Alts Solu's gross margin was 41.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.1 percentage points from the prior year.
Proshares Morningstar Alts Solu's operating margin was -92.0% in fiscal year 2025, reflecting core business profitability. This is down 36.8 percentage points from the prior year.
Proshares Morningstar Alts Solu's net profit margin was -1386.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1326.5 percentage points from the prior year.
Proshares Morningstar Alts Solu's ROE was -29.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 30.9 percentage points from the prior year.
Capital Allocation
Proshares Morningstar Alts Solu invested $11K in capex in fiscal year 2025, funding long-term assets and infrastructure.
ALTS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M-22.0% | $6.0M-20.3% | $7.6M+18.8% | $6.4M+31.5% | $4.8M | N/A | $4.9M+127.8% | $2.2M |
| Cost of Revenue | $1.1M-64.1% | $3.2M-35.9% | $5.0M+37.4% | $3.6M+23.3% | $2.9M | N/A | $2.6M+140.9% | $1.1M |
| Gross Profit | $3.6M+24.8% | $2.9M+9.2% | $2.6M-5.5% | $2.8M+44.1% | $1.9M | N/A | $2.4M+115.0% | $1.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $6.3M+23.0% | $5.1M-73.2% | $19.2M+293.5% | $4.9M+25.8% | $3.9M | N/A | $3.1M-12.4% | $3.5M |
| Operating Income | -$2.7M-20.8% | -$2.3M+86.3% | -$16.5M-689.5% | -$2.1M-7.7% | -$1.9M | N/A | -$732K+69.9% | -$2.4M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$85.1M+13.3% | -$98.2M-912.4% | $12.1M+2897.0% | -$432K-92.0% | -$225K | N/A | -$415K+84.9% | -$2.8M |
| Net Income | -$271.5M+28.9% | -$382.0M-880.1% | $49.0M+637.2% | -$9.1M-281.1% | -$2.4M | N/A | -$822K-239.6% | $589K |
| EPS (Diluted) | $-2.14 | N/A | $0.29+159.2% | $-0.49 | $-0.15 | N/A | $-0.06-185.7% | $0.07 |
ALTS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $959.7M-21.3% | $1.2B-25.6% | $1.6B+1632.1% | $94.7M+21.4% | $78.0M+3.0% | $75.7M+1.1% | $74.9M-0.7% | $75.4M |
| Current Assets | $32.2M+9.3% | $29.5M-34.2% | $44.8M+32.8% | $33.7M+6.1% | $31.8M-7.5% | $34.4M+7.7% | $31.9M+3.3% | $30.9M |
| Cash & Equivalents | $10.5M+69.1% | $6.2M-15.0% | $7.3M-23.5% | $9.6M-11.6% | $10.8M+50.6% | $7.2M-17.2% | $8.7M+50.4% | $5.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | $439K | N/A | N/A | $57K-93.3% | $853K-1.4% | $865K |
| Goodwill | $12.3M0.0% | $12.3M-38.9% | $20.1M0.0% | $20.1M+71.9% | $11.7M+201.9% | $3.9M-49.8% | $7.7M0.0% | $7.7M |
| Total Liabilities | $62.6M+3.9% | $60.3M-24.8% | $80.1M+30.1% | $61.6M+26.1% | $48.8M-12.5% | $55.8M+9.8% | $50.8M+4.5% | $48.6M |
| Current Liabilities | $39.1M-24.0% | $51.4M-8.9% | $56.4M+47.4% | $38.3M+0.2% | $38.2M-6.6% | $40.9M-3.4% | $42.3M-0.4% | $42.5M |
| Long-Term Debt | $75K-86.7% | $563K | N/A | N/A | N/A | $563K | N/A | N/A |
| Total Equity | $889.7M-22.8% | $1.2B-25.8% | $1.6B+5860.9% | $26.1M+19.3% | $21.8M+75.4% | $12.4M-38.4% | $20.2M-11.8% | $22.9M |
| Retained Earnings | -$674.1M-67.4% | -$402.7M-1924.4% | -$19.9M+71.1% | -$68.9M-15.3% | -$59.7M-2.6% | -$58.2M-9.8% | -$53.0M-1.6% | -$52.2M |
ALTS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.3M-247.9% | $8.3M+195.1% | -$8.7M-64.8% | -$5.3M-272.7% | -$1.4M+27.1% | -$2.0M-146.6% | $4.2M+5141.3% | $80K |
| Capital Expenditures | N/A | -$5K | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | $8.3M | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | $4.7M+100.7% | -$711.4M-583234.4% | $122K | $0 | $0 | $0-100.0% | $5.9M |
| Financing Cash Flow | $8.5M+428.5% | -$2.6M-100.4% | $715.7M+33049.0% | $2.2M+39.8% | $1.5M-61.6% | $4.0M+346.2% | $900K+56.0% | $577K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ALTS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.8%+28.4pp | 47.4%+12.8pp | 34.6%-8.9pp | 43.5%+3.8pp | 39.7% | N/A | 47.8%-2.8pp | 50.6% |
| Operating Margin | -58.2%-20.6pp | -37.6%+180.7pp | -218.3%-185.5pp | -32.9%+7.3pp | -40.1% | N/A | -14.8%+97.4pp | -112.2% |
| Net Margin | -5761.7%+564.2pp | -6326.0%-6972.3pp | 646.4%+789.3pp | -142.9%-93.6pp | -49.3% | N/A | -16.6%-43.8pp | 27.2% |
| Return on Equity | -30.5%+2.7pp | -33.2%-36.3pp | 3.1%+38.1pp | -35.0%-24.0pp | -11.0% | N/A | -4.1%-6.6pp | 2.6% |
| Return on Assets | -28.3%+3.0pp | -31.3%-34.3pp | 3.0%+12.6pp | -9.6%-6.6pp | -3.1% | N/A | -1.1%-1.9pp | 0.8% |
| Current Ratio | 0.82+0.3 | 0.57-0.2 | 0.79-0.1 | 0.88+0.0 | 0.830.0 | 0.84+0.1 | 0.75+0.0 | 0.73 |
| Debt-to-Equity | 0.000.0 | 0.00-0.1 | 0.05-2.3 | 2.36+0.1 | 2.24+2.2 | 0.05-2.5 | 2.51+0.4 | 2.12 |
| FCF Margin | N/A | 137.5% | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.57), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
