What is Ayro Inc's earnings per share (EPS)?

Ayro Inc (AYRO) reported diluted earnings per share of $-32.24 for fiscal year 2025. This represents a 0.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ayro Inc Financials

AYRO

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Ayro Inc (AYRO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI AYRO FY2025 2026-05-15

Cash preservation, not revenue scale, is now the dominant business mechanic as the balance sheet contracts.

FY2025 cash of $5.0M still sat above current liabilities of $1.6M, so short-term liquidity looks better than the headline losses suggest and day-to-day obligations appear covered. Yet operating cash use of -$7.7M was larger than that cash balance, which means the business is not currently self-financing even if near-term payables are manageable.

With FY2024 revenue only $63.8K and FY2025 SG&A plus R&D still near $9.5M, this behaves more like a cash-runway problem than a margin story. Current sales are too small to carry the operating structure, so the business is being supported by prior financing and cost containment rather than by commercial scale.

Between FY2024 and FY2025, total assets fell from $21.7M to $11.4M, a sign of balance-sheet contraction rather than expansion. Liabilities also came down, but with equity only $3.7M, the company now has a much thinner capital cushion to absorb continued losses.

Financial Health Signals

Financial Profile 27/100

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 Ayro Inc'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.

Leverage

Ayro Inc has a moderate D/E ratio of 2.07. This balance of debt and equity financing earns a leverage score of 60/100.

Liquidity

100

With a current ratio of 5.60, Ayro Inc holds $5.60 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Ayro Inc generates a -568.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -37.5% the prior year.

Piotroski F-Score Weak

2/9

Ayro Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.36x

For every $1 of reported earnings, Ayro Inc generates $0.36 in operating cash flow (-$7.7M OCF vs -$21.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-82.6x

Ayro Inc earns $-82.6 in operating income for every $1 of interest expense (-$10.5M vs $127K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

-$10.4M

YoY+41.0%

Ayro Inc's EBITDA was -$10.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.0% from the prior year.

Net Income

-$21.1M

YoY-1101.3%

Ayro Inc reported -$21.1M in net income in fiscal year 2025. This represents a decrease of 1101.3% from the prior year.

EPS (Diluted)

$-32.24

YoY+0.0%

Ayro Inc earned $-32.24 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$5.0M

YoY-68.9%

5Y CAGR-32.9%

10Y CAGR+7.7%

Ayro Inc held $5.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+172.7%

Ayro Inc had 1M shares outstanding in fiscal year 2025. This represents an increase of 172.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-568.4%

YoY-530.9pp

5Y CAGR-541.0pp

10Y CAGR-245.5pp

Ayro Inc's ROE was -568.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 530.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$1.4M

YoY-6.6%

5Y CAGR-6.2%

Ayro Inc invested $1.4M in research and development in fiscal year 2025. This represents a decrease of 6.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

AYRO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$64K-87.2%	$499K-83.3%	$3.0M+11.4%	$2.7M+67.3%	$1.6M
Cost of Revenue	$956K-85.6%	$6.7M+29.5%	$5.1M-15.0%	$6.0M+26.6%	$4.8M+169.7%	$1.8M
Gross Profit	-$956K+85.5%	-$6.6M-42.1%	-$4.6M-51.8%	-$3.1M-46.0%	-$2.1M-1156.1%	-$166K
R&D Expenses	$1.4M-6.6%	$1.5M-79.9%	$7.4M+8.4%	$6.8M-40.2%	$11.4M+496.2%	$1.9M
SG&A Expenses	$8.1M-6.3%	$8.6M-39.9%	$14.4M+25.0%	$11.5M-33.0%	$17.2M+160.0%	$6.6M
Operating Income	-$10.5M+46.0%	-$19.4M+31.2%	-$28.2M-21.0%	-$23.3M+29.7%	-$33.1M-227.8%	-$10.1M
Interest Expense	$127K-73.9%	$484K+9.7%	$441K+142.2%	$182K+7783.9%	$2K-99.3%	$327K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$21.1M-1101.3%	-$1.8M+94.9%	-$34.2M-48.9%	-$22.9M+30.7%	-$33.1M-207.3%	-$10.8M
EPS (Diluted)	$-32.240.0%	$-32.25-293.8%	$-8.19-65.5%	$-4.95	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$5K	N/A
Cost of Revenue	N/A	N/A	$717K+200.0%	$239K	N/A	N/A	$286K-73.4%	$1.1M
Gross Profit	N/A	N/A	-$717K-200.0%	-$239K	N/A	N/A	-$281K+73.9%	-$1.1M
R&D Expenses	$125K	N/A	$344K-1.8%	$350K+13.7%	$308K	N/A	$15K-97.6%	$623K
SG&A Expenses	$1.6M	N/A	$2.5M+106.2%	$1.2M-28.0%	$1.7M	N/A	$1.4M-28.5%	$2.0M
Operating Income	-$1.7M	N/A	-$3.5M-97.6%	-$1.8M+9.4%	-$2.0M	N/A	-$1.9M+51.4%	-$4.0M
Interest Expense	$10K	N/A	$62K+678.2%	$8K-69.7%	$26K	N/A	$89K-36.6%	$141K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.4M	N/A	-$2.8M+80.5%	-$14.1M-1773.7%	$845K	N/A	$551K-92.0%	$6.9M
EPS (Diluted)	$-2.42	N/A	$-3.84+87.1%	$-29.87	$-0.20	N/A	$-3.96-282.5%	$2.17

AYRO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$11.4M-47.5%	$21.7M-58.9%	$52.9M-3.9%	$55.0M-29.6%	$78.1M+86.2%	$42.0M
Current Assets	$9.2M-56.7%	$21.3M-56.6%	$49.0M-5.6%	$51.9M-31.8%	$76.2M+90.0%	$40.1M
Cash & Equivalents	$5.0M-68.9%	$16.0M-52.0%	$33.4M-14.5%	$39.1M-43.5%	$69.2M+89.3%	$36.5M
Inventory	N/A	N/A	$3.4M+253.7%	$970K-74.1%	$3.7M+219.1%	$1.2M
Accounts Receivable	N/A	N/A	$219K-57.1%	$510K-47.4%	$969K+26.6%	$766K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.7M-54.9%	$17.1M-56.0%	$38.7M+1220.9%	$2.9M-37.7%	$4.7M+80.6%	$2.6M
Current Liabilities	$1.6M-60.5%	$4.2M-3.4%	$4.3M+92.6%	$2.2M-41.8%	$3.8M+142.2%	$1.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$14K
Total Equity	$3.7M-20.8%	$4.7M-66.9%	$14.1M-72.8%	$52.1M-29.1%	$73.4M+86.6%	$39.4M
Retained Earnings	-$138.2M-18.0%	-$117.1M-1.5%	-$115.3M-42.1%	-$81.2M-39.4%	-$58.2M-131.5%	-$25.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$9.5M-16.8%	$11.4M-27.4%	$15.7M+70.9%	$9.2M-43.1%	$16.2M-25.7%	$21.7M-39.5%	$35.9M-20.2%	$45.0M
Current Assets	$8.0M-13.5%	$9.2M-33.4%	$13.8M+56.7%	$8.8M-43.9%	$15.7M-26.0%	$21.3M-36.3%	$33.4M-20.5%	$42.0M
Cash & Equivalents	$3.3M-34.5%	$5.0M-31.4%	$7.3M+41.5%	$5.1M-60.0%	$12.8M-20.1%	$16.0M+487.4%	$2.7M-80.6%	$14.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	$3.2M-3.1%	$3.3M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$129K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$8.3M+8.0%	$7.7M+4.2%	$7.4M-66.9%	$22.3M+69.6%	$13.1M-22.9%	$17.1M-30.3%	$24.5M-23.9%	$32.2M
Current Liabilities	$1.6M-4.0%	$1.6M-14.1%	$1.9M-74.8%	$7.6M+6.3%	$7.1M+71.7%	$4.2M-18.3%	$5.1M-22.2%	$6.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.2M-68.2%	$3.7M-55.4%	$8.3M+163.6%	-$13.1M-535.9%	$3.0M-35.8%	$4.7M-59.1%	$11.5M-10.7%	$12.8M
Retained Earnings	-$140.6M-1.7%	-$138.2M-3.8%	-$133.1M-2.1%	-$130.4M-12.2%	-$116.2M+0.7%	-$117.1M-5.0%	-$111.5M+0.5%	-$112.1M

AYRO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$7.7M+42.2%	-$13.3M+49.1%	-$26.2M-39.8%	-$18.7M+29.7%	-$26.6M-165.8%	-$10.0M
Capital Expenditures	N/A	$199K-90.7%	$2.1M+34.9%	$1.6M+195.3%	$538K+6.7%	$504K
Free Cash Flow	N/A	-$13.5M+52.3%	-$28.3M-39.4%	-$20.3M+25.2%	-$27.2M-158.2%	-$10.5M
Investing Cash Flow	-$2.9M+6.7%	-$3.1M-134.5%	$8.9M+178.5%	-$11.3M-1788.1%	-$600K-123.6%	$2.5M
Financing Cash Flow	-$552K+94.9%	-$10.9M-150.2%	$21.6M	N/A	$59.9M+38.0%	$43.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$377K	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$1.1M+33.6%	-$1.6M-237.5%	$1.2M+145.7%	-$2.6M-77.8%	-$1.5M+50.5%	-$3.0M+14.8%	-$3.5M-62.6%	-$2.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$36K	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$3.0M	N/A	N/A
Investing Cash Flow	-$219K+59.5%	-$540K+83.8%	-$3.3M-361.6%	-$725K-141.4%	$1.7M-85.6%	$12.2M+76.5%	$6.9M+502.7%	$1.1M
Financing Cash Flow	-$404K-357.0%	-$88K-101.2%	$7.4M+271.1%	-$4.3M-22.3%	-$3.5M+38.4%	-$5.8M-21.4%	-$4.7M	N/A
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

AYRO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	-10328.5%-9399.5pp	-929.0%-826.9pp	-102.1%-24.2pp	-77.9%-67.5pp	-10.4%
Operating Margin	N/A	-30382.4%-24738.9pp	-5643.5%-4865.1pp	-778.4%+456.1pp	-1234.5%-604.5pp	-630.0%
Net Margin	N/A	-2752.5%+4094.4pp	-6846.9%-6080.0pp	-766.9%+465.7pp	-1232.6%-561.6pp	-671.0%
Return on Equity	-568.4%-530.9pp	-37.5%+204.1pp	-241.6%-197.6pp	-44.1%+1.0pp	-45.1%-17.7pp	-27.4%
Return on Assets	-184.8%-176.8pp	-8.1%+56.5pp	-64.6%-22.9pp	-41.7%+0.6pp	-42.3%-16.7pp	-25.7%
Current Ratio	5.60+0.5	5.11-6.3	11.37-11.8	23.19+3.4	19.81-5.4	25.26
Debt-to-Equity	2.07-1.6	3.64+0.9	2.74+2.7	0.060.0	0.06+0.1	0.00
FCF Margin	N/A	-21190.6%-15513.4pp	-5677.2%-4997.8pp	-679.4%+333.0pp	-1012.4%-356.4pp	-656.1%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	-5171.4%	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	-35495.9%	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	10146.6%	N/A
Return on Equity	-204.6%	N/A	-33.1%	N/A	28.1%	N/A	4.8%-49.1pp	53.9%
Return on Assets	-25.4%	N/A	-17.5%+136.3pp	-153.8%-159.1pp	5.2%	N/A	1.5%-13.8pp	15.4%
Current Ratio	5.05-0.6	5.60-1.6	7.23+6.1	1.16-1.0	2.20-2.9	5.11-1.4	6.55+0.1	6.42
Debt-to-Equity	7.04+5.0	2.07+1.2	0.89+2.6	-1.70-6.1	4.37+0.7	3.64+1.5	2.14-0.4	2.51
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Chijet Motor Company CJET

$3.8M

LOBO LOBO

$9.7M

ECD Automotive Design ECDA

$333K

Envirotech Vehicles Inc EVTV

$28.3M

Fly-E Group Inc FLYE

$3.1M

Frequently Asked Questions

Is Ayro Inc profitable?

No, Ayro Inc (AYRO) reported a net income of -$21.1M in fiscal year 2025.

What is Ayro Inc's EBITDA?

Ayro Inc (AYRO) had EBITDA of -$10.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ayro Inc's return on equity (ROE)?

Ayro Inc (AYRO) has a return on equity of -568.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ayro Inc's operating cash flow?

Ayro Inc (AYRO) generated -$7.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ayro Inc's total assets?

Ayro Inc (AYRO) had $11.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Ayro Inc spend on research and development?

Ayro Inc (AYRO) invested $1.4M in research and development during fiscal year 2025.

How many shares does Ayro Inc have outstanding?

Ayro Inc (AYRO) had 1M shares outstanding as of fiscal year 2025.

What is Ayro Inc's current ratio?

Ayro Inc (AYRO) had a current ratio of 5.60 as of fiscal year 2025, which is generally considered healthy.

What is Ayro Inc's debt-to-equity ratio?

Ayro Inc (AYRO) had a debt-to-equity ratio of 2.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ayro Inc's return on assets (ROA)?

Ayro Inc (AYRO) had a return on assets of -184.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ayro Inc's cash runway?

Based on fiscal year 2025 data, Ayro Inc (AYRO) had $5.0M in cash against an annual operating cash burn of $7.7M. This gives an estimated cash runway of approximately 8 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.

What is Ayro Inc's Piotroski F-Score?

Ayro Inc (AYRO) has a Piotroski F-Score of 2 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ayro Inc's earnings high quality?

Ayro Inc (AYRO) has an earnings quality ratio of 0.36x, 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 Ayro Inc cover its interest payments?

Ayro Inc (AYRO) has an interest coverage ratio of -82.6x, 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.

How financially healthy is Ayro Inc?

Ayro Inc (AYRO) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.