Accredited Solutions Inc Financials
This page shows Accredited Solutions Inc (ASII) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Financial Health Signals
Accredited Solutions Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Accredited Solutions Inc generates $0.05 in operating cash flow (-$81K OCF vs -$1.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Accredited Solutions Inc earns $-0.4 in operating income for every $1 of interest expense (-$149K vs $399K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Accredited Solutions Inc generated $689K in revenue in fiscal year 2023. This represents an increase of 42.6% from the prior year.
Accredited Solutions Inc's EBITDA was -$123K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.8% from the prior year.
Accredited Solutions Inc reported -$1.5M in net income in fiscal year 2023. This represents a decrease of 4597.7% from the prior year.
Accredited Solutions Inc held $919 in cash against $0 in long-term debt as of fiscal year 2023.
Accredited Solutions Inc had 712M shares outstanding in fiscal year 2023. This represents an increase of 109.9% from the prior year.
Accredited Solutions Inc's gross margin was 20.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.
Accredited Solutions Inc's operating margin was -21.6% in fiscal year 2023, reflecting core business profitability. This is up 21.1 percentage points from the prior year.
Accredited Solutions Inc's net profit margin was -216.1% in fiscal year 2023, showing the share of revenue converted to profit. This is down 209.5 percentage points from the prior year.
ASII Income Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $241K+135.7% | $102K-6.4% | $109K-25.0% | $146K-11.4% | $165K-26.0% | $222K+42.3% | $156K-4.4% | $163K |
| Cost of Revenue | $190K+253.1% | $54K-54.9% | $119K-12.4% | $136K+11.9% | $122K-25.4% | $163K+25.4% | $130K-6.7% | $139K |
| Gross Profit | $51K+5.7% | $49K+589.6% | -$10K-203.2% | $10K-77.6% | $43K-27.7% | $59K+126.0% | $26K+9.0% | $24K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $424K+593.5% | $61K+9.0% | $56K-50.7% | $114K+60.8% | $71K+2202.7% | $3K-95.8% | $73K+6.4% | $69K |
| Operating Income | -$375K-2333.9% | -$15K+77.6% | -$69K+35.7% | -$107K-212.1% | -$34K-171.4% | $48K+186.6% | -$55K+8.0% | -$60K |
| Interest Expense | $36K+51.6% | $24K-81.0% | $124K-51.5% | $256K+441.0% | $47K+1.1% | $47K-3.1% | $48K-89.5% | $462K |
| Income Tax | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $4.3M+305.4% | -$2.1M-2736.7% | -$73K-115.1% | $484K+292.9% | -$251K+83.2% | -$1.5M-543.9% | -$231K+90.2% | -$2.4M |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | N/A | $0.00 | $0.00 | $0.00 | N/A |
ASII Balance Sheet
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $249K+51.0% | $165K+2.4% | $161K-29.9% | $230K-61.9% | $602K+15.4% | $522K-29.3% | $738K-9.4% | $815K |
| Current Assets | $97K+877.6% | $10K+218.1% | $3K-95.5% | $69K-49.6% | $137K+174.1% | $50K-80.7% | $258K-19.7% | $321K |
| Cash & Equivalents | $12K+78.6% | $7K+2666.9% | $245-73.3% | $919-98.4% | $56K+384.0% | $12K+228.4% | $4K-90.2% | $36K |
| Inventory | $0-100.0% | $33K | N/A | $0 | N/A | $0 | N/A | $0 |
| Accounts Receivable | $61K | $0 | $0-100.0% | $64K-20.7% | $81K+112.6% | $38K+58.2% | $24K-53.1% | $51K |
| Goodwill | N/A | N/A | N/A | $0-100.0% | $302K0.0% | $302K0.0% | $302K0.0% | $302K |
| Total Liabilities | $1.3M-81.7% | $7.2M+40.3% | $5.2M-2.8% | $5.3M-14.8% | $6.2M+4.7% | $5.9M+28.3% | $4.6M-1.2% | $4.7M |
| Current Liabilities | $1.3M-81.7% | $7.2M+40.3% | $5.2M-2.8% | $5.3M-14.8% | $6.2M+4.7% | $5.9M+28.3% | $4.6M-1.2% | $4.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.1M+84.8% | -$7.1M-41.5% | -$5.0M+1.6% | -$5.1M+9.8% | -$5.6M-4.5% | -$5.4M-38.1% | -$3.9M-0.5% | -$3.9M |
| Retained Earnings | -$5.8M+42.6% | -$10.0M-26.2% | -$7.9M-0.9% | -$7.9M+5.8% | -$8.4M-2.5% | -$8.2M-23.2% | -$6.6M-3.6% | -$6.4M |
ASII Cash Flow Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$208K-481.6% | -$36K-5213.9% | -$674+99.1% | -$72K-311.7% | $34K+660.1% | $4K+109.3% | -$48K+44.8% | -$87K |
| Capital Expenditures | N/A | N/A | $0 | N/A | N/A | N/A | N/A | -$60K |
| Free Cash Flow | N/A | N/A | $0 | N/A | N/A | N/A | N/A | -$293K |
| Investing Cash Flow | $0 | $0 | $0 | $0 | $0+100.0% | -$541 | $0-100.0% | $14K |
| Financing Cash Flow | $214K+404.5% | $42K | $0-100.0% | $17K+64.3% | $10K+152.4% | $4K-73.5% | $16K+255.0% | -$10K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ASII Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.3%-26.2pp | 47.5%+56.5pp | -9.1%-15.7pp | 6.6%-19.5pp | 26.1%-0.6pp | 26.7%+9.9pp | 16.8%+2.1pp | 14.7% |
| Operating Margin | -155.6%-140.5pp | -15.1%+47.9pp | -62.9%+10.5pp | -73.4%-52.6pp | -20.8%-42.4pp | 21.6%+57.1pp | -35.5%+1.4pp | -36.9% |
| Net Margin | 1771.6%+3803.8pp | -2032.2%-1965.1pp | -67.0%-399.1pp | 332.1%+484.7pp | -152.6%+517.6pp | -670.2%-522.1pp | -148.1%+1300.3pp | -1448.4% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 1717.6%+2980.2pp | -1262.7%-1217.1pp | -45.6%-256.5pp | 210.9%+252.6pp | -41.7%+243.8pp | -285.5%-254.1pp | -31.3%+259.1pp | -290.5% |
| Current Ratio | 0.07+0.1 | 0.000.0 | 0.00-0.0 | 0.010.0 | 0.02+0.0 | 0.01-0.0 | 0.06-0.0 | 0.07 |
| Debt-to-Equity | -1.23-0.2 | -1.020.0 | -1.03+0.0 | -1.05+0.1 | -1.110.0 | -1.11+0.1 | -1.19+0.0 | -1.21 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$5.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Accredited Solutions Inc's annual revenue?
Accredited Solutions Inc (ASII) reported $689K in total revenue for fiscal year 2023. This represents a 42.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Accredited Solutions Inc's revenue growing?
Accredited Solutions Inc (ASII) revenue grew by 42.6% year-over-year, from $483K to $689K in fiscal year 2023.
Is Accredited Solutions Inc profitable?
No, Accredited Solutions Inc (ASII) reported a net income of -$1.5M in fiscal year 2023, with a net profit margin of -216.1%.
What is Accredited Solutions Inc's EBITDA?
Accredited Solutions Inc (ASII) had EBITDA of -$123K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is Accredited Solutions Inc's gross margin?
Accredited Solutions Inc (ASII) had a gross margin of 20.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is Accredited Solutions Inc's operating margin?
Accredited Solutions Inc (ASII) had an operating margin of -21.6% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Accredited Solutions Inc's net profit margin?
Accredited Solutions Inc (ASII) had a net profit margin of -216.1% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Accredited Solutions Inc's operating cash flow?
Accredited Solutions Inc (ASII) generated -$81K in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Accredited Solutions Inc's total assets?
Accredited Solutions Inc (ASII) had $230K in total assets as of fiscal year 2023, including both current and long-term assets.
How many shares does Accredited Solutions Inc have outstanding?
Accredited Solutions Inc (ASII) had 712M shares outstanding as of fiscal year 2023.
What is Accredited Solutions Inc's current ratio?
Accredited Solutions Inc (ASII) had a current ratio of 0.01 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is Accredited Solutions Inc's debt-to-equity ratio?
Accredited Solutions Inc (ASII) had a debt-to-equity ratio of -1.05 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Accredited Solutions Inc's return on assets (ROA)?
Accredited Solutions Inc (ASII) had a return on assets of -648.6% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Accredited Solutions Inc's cash runway?
Based on fiscal year 2023 data, Accredited Solutions Inc (ASII) had $919 in cash against an annual operating cash burn of $81K. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Accredited Solutions Inc's debt-to-equity ratio negative or unusual?
Accredited Solutions Inc (ASII) has negative shareholder equity of -$5.1M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Accredited Solutions Inc's Piotroski F-Score?
Accredited Solutions Inc (ASII) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Accredited Solutions Inc's earnings high quality?
Accredited Solutions Inc (ASII) has an earnings quality ratio of 0.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Accredited Solutions Inc cover its interest payments?
Accredited Solutions Inc (ASII) has an interest coverage ratio of -0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.