BLDEW Financials
This page shows BLDEW (BLDEW) 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).
FY2025 profit was driven outside the core business, while cash burn and operating losses still describe how BLDEW actually runs.
The striking FY2025 swing to$41.3M of net income did not coincide with operating improvement, because operating income stayed negative at-$22.4M . Operating cash flow worsened to-$48.9M , so the reported profit appears to come from items outside the main business rather than the day-to-day operation.
Across FY2023-FY2025, revenue first fell and then recovered, yet gross margin stayed near
The balance sheet remains lightly levered, with liabilities of
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 BLDEW'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.
BLDEW has an operating margin of -11.3%, meaning the company retains $-11 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 up from -15.3% the prior year.
BLDEW's revenue surged 34.3% year-over-year to $197.1M, reflecting rapid business expansion. This strong growth earns a score of 23/100.
BLDEW carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 6.38, BLDEW holds $6.38 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While BLDEW generated -$48.9M in operating cash flow, capex of $9.6M consumed most of it, leaving -$58.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
BLDEW generates a 14.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 9/100. This is up from -12.3% the prior year.
BLDEW passes 4 of 9 financial strength tests. 2 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, BLDEW generates $-1.18 in operating cash flow (-$48.9M OCF vs $41.3M 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
BLDEW generated $197.1M in revenue in fiscal year 2025. This represents an increase of 34.3% from the prior year.
BLDEW's EBITDA was -$14.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.5% from the prior year.
BLDEW reported $41.3M in net income in fiscal year 2025. This represents an increase of 251.4% from the prior year.
BLDEW earned $0.50 per diluted share (EPS) in fiscal year 2025. This represents an increase of 242.9% from the prior year.
Cash & Balance Sheet
BLDEW generated -$58.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 75.3% from the prior year.
BLDEW held $31.0M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
BLDEW's gross margin was 20.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.
BLDEW's operating margin was -11.3% in fiscal year 2025, reflecting core business profitability. This is up 4.0 percentage points from the prior year.
BLDEW's net profit margin was 21.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 39.6 percentage points from the prior year.
BLDEW's ROE was 14.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 27.1 percentage points from the prior year.
Capital Allocation
BLDEW spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
BLDEW invested $9.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 68.9% from the prior year.
BLDEW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $67.4M+64.0% | $41.1M-16.6% | $49.3M-30.4% | $70.8M+97.0% | $35.9M | N/A | $36.1M-46.9% | $67.9M |
| Cost of Revenue | $53.3M+46.5% | $36.4M-3.5% | $37.7M-29.0% | $53.1M+83.6% | $28.9M | N/A | $28.6M-44.7% | $51.6M |
| Gross Profit | $14.1M+199.0% | $4.7M-59.3% | $11.6M-34.5% | $17.7M+151.5% | $7.1M | N/A | $7.5M-54.1% | $16.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $15.6M+28.9% | $12.1M-25.8% | $16.3M-19.1% | $20.1M+63.4% | $12.3M | N/A | $13.9M-44.8% | $25.1M |
| Operating Income | -$3.0M+51.2% | -$6.1M-8.4% | -$5.6M-13.5% | -$5.0M+12.9% | -$5.7M | N/A | -$7.1M+41.6% | -$12.1M |
| Interest Expense | N/A | N/A | N/A | $1.2M-12.6% | $1.3M | N/A | $1.8M-1.3% | $1.8M |
| Income Tax | $0+100.0% | -$21K | $0-100.0% | $21K | $0 | N/A | $0-100.0% | $52K |
| Net Income | $2.2M+124.4% | -$8.8M-115.4% | $57.4M+1634.0% | -$3.7M-7.2% | -$3.5M | N/A | -$2.0M+82.7% | -$11.3M |
| EPS (Diluted) | $0.03 | N/A | $0.70+1500.0% | $-0.05-25.0% | $-0.04 | N/A | $-0.03+80.0% | $-0.15 |
BLDEW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $327.6M+0.7% | $325.5M-2.9% | $335.1M+29.9% | $257.9M+2.9% | $250.6M-2.4% | $256.7M-9.3% | $282.9M+0.9% | $280.3M |
| Current Assets | $124.1M-1.6% | $126.2M+3.0% | $122.5M-21.7% | $156.5M+2.7% | $152.3M-5.2% | $160.7M-6.4% | $171.8M-6.1% | $182.9M |
| Cash & Equivalents | $58.7M+89.6% | $31.0M+36.1% | $22.8M-61.3% | $58.8M+68.7% | $34.8M+89.5% | $18.4M-8.2% | $20.0M-23.9% | $26.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $39.6M-0.9% | $40.0M+6.4% | $37.5M+33.2% | $28.2M+27.3% | $22.1M+11.6% | $19.8M-19.0% | $24.5M-11.7% | $27.7M |
| Goodwill | $88.6M+0.4% | $88.2M+4.3% | $84.6M+91.2% | $44.3M+5.3% | $42.0M+170.5% | $15.5M-63.8% | $43.0M+8.5% | $39.6M |
| Total Liabilities | $41.9M-9.7% | $46.4M-10.9% | $52.1M+49.6% | $34.8M+13.0% | $30.8M-11.3% | $34.7M-29.7% | $49.4M-2.9% | $50.9M |
| Current Liabilities | $20.9M+5.8% | $19.8M-29.0% | $27.9M+5.9% | $26.3M+20.3% | $21.9M-3.7% | $22.7M-16.4% | $27.2M-10.3% | $30.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $285.7M+2.4% | $279.1M-1.4% | $283.0M+26.8% | $223.1M+1.5% | $219.7M-1.0% | $221.9M-5.0% | $233.5M+1.8% | $229.4M |
| Retained Earnings | -$143.4M+1.5% | -$145.6M-6.5% | -$136.7M+29.6% | -$194.1M-2.0% | -$190.4M-1.9% | -$186.9M-5.5% | -$177.1M-1.1% | -$175.2M |
BLDEW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.9M+146.8% | -$8.3M+77.7% | -$37.3M-1117.3% | -$3.1M-1145.5% | -$246K+86.0% | -$1.8M-127.6% | $6.4M-24.6% | $8.4M |
| Capital Expenditures | $5.2M+180.2% | $1.8M-34.7% | $2.8M+22.8% | $2.3M-11.9% | $2.6M-42.9% | $4.6M-50.8% | $9.3M-42.4% | $16.2M |
| Free Cash Flow | -$1.3M+87.3% | -$10.2M+74.7% | -$40.1M-647.5% | -$5.4M-87.7% | -$2.9M+54.8% | -$6.3M-114.4% | -$3.0M+61.8% | -$7.7M |
| Investing Cash Flow | $24.7M+35.4% | $18.3M+661.7% | $2.4M-91.6% | $28.7M+40.5% | $20.4M+413.3% | $4.0M+131.4% | -$12.6M+25.2% | -$16.9M |
| Financing Cash Flow | -$859K+50.7% | -$1.7M+2.5% | -$1.8M-57.2% | -$1.1M+73.2% | -$4.2M-9.6% | -$3.9M-430.0% | -$731K+39.5% | -$1.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0 | $0 | N/A | N/A | $0 | $0 | N/A |
BLDEW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.9%+9.5pp | 11.5%-12.1pp | 23.6%-1.5pp | 25.1%+5.4pp | 19.6% | N/A | 20.8%-3.3pp | 24.1% |
| Operating Margin | -4.4%+10.4pp | -14.8%-3.4pp | -11.4%-4.4pp | -7.0%+8.8pp | -15.8% | N/A | -19.7%-1.8pp | -17.9% |
| Net Margin | 3.2%+24.7pp | -21.5%-138.0pp | 116.5%+121.8pp | -5.3%+4.4pp | -9.7% | N/A | -5.4%+11.2pp | -16.7% |
| Return on Equity | 0.8%+3.9pp | -3.2%-23.5pp | 20.3%+22.0pp | -1.7%-0.1pp | -1.6% | N/A | -0.8%+4.1pp | -4.9% |
| Return on Assets | 0.7%+3.4pp | -2.7%-19.9pp | 17.1%+18.6pp | -1.5%-0.1pp | -1.4% | N/A | -0.7%+3.4pp | -4.0% |
| Current Ratio | 5.93-0.4 | 6.38+2.0 | 4.39-1.6 | 5.95-1.0 | 6.96-0.1 | 7.07+0.8 | 6.32+0.3 | 6.04 |
| Debt-to-Equity | 0.15-0.0 | 0.17-0.0 | 0.18+0.0 | 0.16+0.0 | 0.14-0.0 | 0.16-0.1 | 0.21-0.0 | 0.22 |
| FCF Margin | -1.9%+22.8pp | -24.7%+56.7pp | -81.4%-73.8pp | -7.6%+0.4pp | -8.0% | N/A | -8.2%+3.2pp | -11.4% |
Frequently Asked Questions
What is BLDEW's annual revenue?
BLDEW (BLDEW) reported $197.1M in total revenue for fiscal year 2025. This represents a 34.3% 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 BLDEW's revenue growing?
BLDEW (BLDEW) revenue grew by 34.3% year-over-year, from $146.8M to $197.1M in fiscal year 2025.
Is BLDEW profitable?
Yes, BLDEW (BLDEW) reported a net income of $41.3M in fiscal year 2025, with a net profit margin of 21.0%.
What is BLDEW's EBITDA?
BLDEW (BLDEW) had EBITDA of -$14.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is BLDEW's gross margin?
BLDEW (BLDEW) had a gross margin of 20.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is BLDEW's operating margin?
BLDEW (BLDEW) had an operating margin of -11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is BLDEW's net profit margin?
BLDEW (BLDEW) had a net profit margin of 21.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is BLDEW's return on equity (ROE)?
BLDEW (BLDEW) has a return on equity of 14.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is BLDEW's free cash flow?
BLDEW (BLDEW) generated -$58.5M in free cash flow during fiscal year 2025. This represents a -75.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is BLDEW's operating cash flow?
BLDEW (BLDEW) generated -$48.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are BLDEW's total assets?
BLDEW (BLDEW) had $325.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are BLDEW's capital expenditures?
BLDEW (BLDEW) invested $9.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is BLDEW's current ratio?
BLDEW (BLDEW) had a current ratio of 6.38 as of fiscal year 2025, which is generally considered healthy.
What is BLDEW's debt-to-equity ratio?
BLDEW (BLDEW) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BLDEW's return on assets (ROA)?
BLDEW (BLDEW) had a return on assets of 12.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is BLDEW's cash runway?
Based on fiscal year 2025 data, BLDEW (BLDEW) had $31.0M in cash against an annual operating cash burn of $48.9M. 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 BLDEW's Piotroski F-Score?
BLDEW (BLDEW) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 BLDEW's earnings high quality?
BLDEW (BLDEW) has an earnings quality ratio of -1.18x, 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.
How financially healthy is BLDEW?
BLDEW (BLDEW) scores 38 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.