AVAI BIO Financials

AVAI

Source SEC Filings (10-K/10-Q) Updated Feb 12, 2026 Currency USD FYE March

This page shows AVAI BIO (AVAI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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

Piotroski F-Score Weak

1/9

AVAI BIO passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.02x

For every $1 of reported earnings, AVAI BIO generates $1.02 in operating cash flow (-$1.2M OCF vs -$1.1M 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

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Earnings & Revenue

Revenue

N/A

EBITDA

-$1.1M

YoY+48.0%

AVAI BIO's EBITDA was -$1.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 48.0% from the prior year.

Net Income

-$1.1M

YoY+46.3%

AVAI BIO reported -$1.1M in net income in fiscal year 2025. This represents an increase of 46.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$81K

YoY+28744.5%

5Y CAGR+24.3%

AVAI BIO held $81K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

137M

YoY+17.2%

AVAI BIO had 137M shares outstanding in fiscal year 2025. This represents an increase of 17.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

AVAI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	$276K-44.7%	$500K-58.8%	$1.2M+492.9%	$205K
Cost of Revenue	N/A	N/A	$317K-55.4%	$711K-42.3%	$1.2M+166.9%	$461K
Gross Profit	N/A	N/A	-$40K+80.8%	-$211K-1174.8%	-$17K+93.5%	-$256K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	$27K
SG&A Expenses	$762K-46.5%	$1.4M+506.3%	$235K-47.7%	$449K+118.9%	$205K-10.5%	$229K
Operating Income	-$1.1M+46.3%	-$2.1M-510.0%	-$349K-375.8%	$127K-58.1%	$302K+334.4%	$70K
Interest Expense	N/A	N/A	$276K-70.0%	$921K-24.1%	$1.2M+69.2%	$717K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.1M+46.3%	-$2.1M-510.0%	-$349K-175.8%	-$127K+58.1%	-$302K-334.4%	-$70K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$24K	N/A	$24K	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$190K0.0%	$190K-28.3%	$265K+23.9%	$214K	N/A	$260K-38.5%	$423K+66.0%	$255K
Operating Income	$554K+200.0%	-$554K-22.2%	-$453K+7.1%	-$488K	N/A	$452K-27.4%	$623K+217.8%	-$529K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$529K+195.5%	-$554K-22.2%	-$453K+7.1%	-$488K	N/A	-$452K+27.6%	-$625K-18.2%	-$529K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AVAI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$225K-30.2%	$322K+33.4%	$241K-46.9%	$455K-44.3%	$816K+94.4%	$420K
Current Assets	$93K-19.8%	$116K+7.9%	$108K-67.5%	$331K-46.7%	$620K+318.1%	$148K
Cash & Equivalents	$81K+28744.5%	$281-99.7%	$107K+222.8%	$33K-44.9%	$60K+121.1%	$27K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$4K-94.1%	$64K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.8M0.0%	$1.8M+104.5%	$875K+1.7%	$860K-24.8%	$1.1M+149.9%	$458K
Current Liabilities	$1.8M0.0%	$1.8M+104.5%	$875K+1.7%	$860K-24.8%	$1.1M+149.9%	$458K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$1.6M-6.6%	-$1.5M-131.6%	-$633K-56.1%	-$406K-23.9%	-$327K-768.8%	-$38K
Retained Earnings	-$4.1M-38.4%	-$3.0M-251.0%	-$848K-271.0%	$496K+34.3%	$369K+650.9%	-$67K

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$173K0.0%	$173K-25.3%	$231K+59.2%	$145K-35.3%	$225K+28.5%	$175K-3.4%	$181K-26.1%	$245K
Current Assets	$61K0.0%	$61K-46.1%	$113K+458.1%	$20K-78.3%	$93K+238.6%	$28K+94.6%	$14K-75.8%	$58K
Cash & Equivalents	$50K0.0%	$50K-45.2%	$92K+814.3%	$10K-87.6%	$81K+2540.2%	$3K+73.3%	$2K+299.1%	$444
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	-$2.6M-188.3%	$3.0M+17.2%	$2.5M+18.5%	$2.1M+19.5%	$1.8M-22.6%	$2.3M+15.8%	$2.0M-14.4%	$2.3M
Current Liabilities	$3.0M0.0%	$3.0M+17.2%	$2.5M+18.5%	$2.1M+19.5%	$1.8M-22.6%	$2.3M+15.8%	$2.0M-14.4%	$2.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.8M+200.0%	-$2.8M-21.5%	-$2.3M-15.5%	-$2.0M-27.3%	-$1.6M+26.8%	-$2.1M-17.6%	-$1.8M+12.9%	-$2.1M
Retained Earnings	$5.6M+200.0%	-$5.6M-10.9%	-$5.1M-9.8%	-$4.6M-11.8%	-$4.1M+10.1%	-$4.6M-11.0%	-$4.1M-17.8%	-$3.5M

AVAI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$1.2M+12.2%	-$1.3M-2328.2%	-$54K-110.2%	$535K+2217.1%	$23K-82.3%	$131K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	-$149K-344.6%	-$34K+0.6%	-$34K-57.8%	-$21K+92.1%	-$271K
Financing Cash Flow	$1.2M-9.0%	$1.4M+741.3%	$162K-65.8%	$474K+1263.3%	$35K-79.3%	$168K
Dividends Paid	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

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$959K+376.3%	-$347K+6.6%	-$372K-54.6%	-$240K-28.2%	-$188K-39.6%	-$134K+83.7%	-$826K-6403.3%	-$13K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$928K+203.9%	$306K-32.6%	$453K+167.8%	$169K-36.2%	$265K+95.7%	$136K-83.6%	$827K+6331.3%	$13K
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

AVAI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	-14.6%+27.5pp	-42.2%-40.8pp	-1.4%+123.8pp	-125.2%
Operating Margin	N/A	N/A	-126.3%-151.6pp	25.3%+0.4pp	24.9%-9.1pp	34.0%
Net Margin	N/A	N/A	-126.3%-101.0pp	-25.3%-0.4pp	-24.9%+9.1pp	-34.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-508.2%+152.8pp	-661.0%-516.5pp	-144.5%-116.7pp	-27.8%+9.2pp	-37.0%-20.5pp	-16.6%
Current Ratio	0.05-0.0	0.06-0.1	0.12-0.3	0.38-0.2	0.54+0.2	0.32
Debt-to-Equity	-1.14+0.1	-1.22+0.2	-1.38+0.7	-2.12+1.4	-3.49+8.7	-12.14
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	18.9%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	305.9%+626.1pp	-320.2%-124.4pp	-195.8%+139.8pp	-335.6%	N/A	-258.6%+86.7pp	-345.3%-129.3pp	-215.9%
Current Ratio	0.020.0	0.02-0.0	0.04+0.0	0.01-0.0	0.05+0.0	0.010.0	0.01-0.0	0.03
Debt-to-Equity	-0.94+0.1	-1.06+0.0	-1.10-0.0	-1.07+0.1	-1.14-0.1	-1.08+0.0	-1.10+0.0	-1.12
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$1.6M), 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 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is AVAI BIO profitable?

No, AVAI BIO (AVAI) reported a net income of -$1.1M in fiscal year 2025.

What is AVAI BIO's EBITDA?

AVAI BIO (AVAI) had EBITDA of -$1.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is AVAI BIO's operating cash flow?

AVAI BIO (AVAI) generated -$1.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are AVAI BIO's total assets?

AVAI BIO (AVAI) had $225K in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does AVAI BIO have outstanding?

AVAI BIO (AVAI) had 137M shares outstanding as of fiscal year 2025.

What is AVAI BIO's current ratio?

AVAI BIO (AVAI) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is AVAI BIO's debt-to-equity ratio?

AVAI BIO (AVAI) had a debt-to-equity ratio of -1.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is AVAI BIO's return on assets (ROA)?

AVAI BIO (AVAI) had a return on assets of -508.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is AVAI BIO's cash runway?

Based on fiscal year 2025 data, AVAI BIO (AVAI) had $81K in cash against an annual operating cash burn of $1.2M. This gives an estimated cash runway of approximately 1 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 AVAI BIO's debt-to-equity ratio negative or unusual?

AVAI BIO (AVAI) has negative shareholder equity of -$1.6M as of fiscal year 2025, 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 AVAI BIO's Piotroski F-Score?

AVAI BIO (AVAI) has a Piotroski F-Score of 1 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 AVAI BIO's earnings high quality?

AVAI BIO (AVAI) has an earnings quality ratio of 1.02x, 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.