What is Brain Scientific's earnings per share (EPS)?

Brain Scientific (BRSF) reported diluted earnings per share of $-12.95 for fiscal year 2022. 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.

Brain Scientific Financials

BRSF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2022 Currency USD FYE December

This page shows Brain Scientific (BRSF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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

Financial Profile 11/100

Based on FY2022 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Brain Scientific has an operating margin of -4478.1%, meaning the company retains $-4478 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 -3257.4% the prior year.

Growth

Brain Scientific's revenue declined 19.3% year-over-year, from $266K to $215K. This contraction results in a growth score of 1/100.

Leverage

Brain Scientific carries a low D/E ratio of 1.72, meaning only $1.72 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Brain Scientific's current ratio of 0.18 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Brain Scientific generated -$5.9M in operating cash flow, capex of $33K consumed most of it, leaving -$6.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Brain Scientific generates a -285.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Weak

2/9

Brain Scientific 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.

Earnings Quality Low Quality

0.48x

For every $1 of reported earnings, Brain Scientific generates $0.48 in operating cash flow (-$5.9M OCF vs -$12.3M 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

-11.4x

Brain Scientific earns $-11.4 in operating income for every $1 of interest expense (-$9.6M vs $845K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$215K

YoY-19.3%

5Y CAGR+180.3%

Brain Scientific generated $215K in revenue in fiscal year 2022. This represents a decrease of 19.3% from the prior year.

EBITDA

-$8.8M

YoY-4.1%

Brain Scientific's EBITDA was -$8.8M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.1% from the prior year.

Net Income

-$12.3M

YoY-35.6%

Brain Scientific reported -$12.3M in net income in fiscal year 2022. This represents a decrease of 35.6% from the prior year.

EPS (Diluted)

$-12.95

Brain Scientific earned $-12.95 per diluted share (EPS) in fiscal year 2022. This represents an increase of 48.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$6.0M

YoY-0.7%

Brain Scientific generated -$6.0M in free cash flow in fiscal year 2022, representing cash available after capex. This represents a decrease of 0.7% from the prior year.

Cash & Debt

$748K

YoY-4.8%

5Y CAGR+20.2%

Brain Scientific held $748K in cash against $0 in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

Brain Scientific had 1M shares outstanding in fiscal year 2022. This represents a decrease of 97.5% from the prior year.

Margins & Returns

Gross Margin

25.3%

YoY-6.0pp

5Y CAGR+25.3pp

Brain Scientific's gross margin was 25.3% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 6.0 percentage points from the prior year.

Operating Margin

-4478.1%

YoY-1220.7pp

5Y CAGR+68463.1pp

Brain Scientific's operating margin was -4478.1% in fiscal year 2022, reflecting core business profitability. This is down 1220.7 percentage points from the prior year.

Net Margin

-5753.0%

YoY-2328.4pp

5Y CAGR+71465.5pp

Brain Scientific's net profit margin was -5753.0% in fiscal year 2022, showing the share of revenue converted to profit. This is down 2328.4 percentage points from the prior year.

Return on Equity

-285.9%

Brain Scientific's ROE was -285.9% in fiscal year 2022, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$302K

YoY-8.4%

5Y CAGR+0.8%

Brain Scientific invested $302K in research and development in fiscal year 2022. This represents a decrease of 8.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$33K

YoY-43.2%

5Y CAGR+76.3%

Brain Scientific invested $33K in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents a decrease of 43.2% from the prior year.

BRSF Income Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$215K-19.3%	$266K+183.7%	$94K-80.9%	$489K+741.8%	$58K+4582.8%	$1K
Cost of Revenue	$160K-12.2%	$183K+317.1%	$44K-88.7%	$387K+1040.9%	$34K	$0
Gross Profit	$54K-34.7%	$83K+66.8%	$50K-51.1%	$102K+322.0%	$24K	$0
R&D Expenses	$302K-8.4%	$329K+56.4%	$211K+103.4%	$104K-50.7%	$210K-27.4%	$290K
SG&A Expenses	$4.5M+34.3%	$3.3M+81.6%	$1.8M+244.0%	$532K-21.2%	$676K+70.7%	$396K
Operating Income	-$9.6M-11.0%	-$8.7M-212.6%	-$2.8M-185.5%	-$970K+24.5%	-$1.3M-42.0%	-$905K
Interest Expense	$845K+80.6%	$468K+1487.3%	$29K-10.5%	$33K-79.3%	$159K+62.9%	$98K
Income Tax	N/A	N/A	N/A	$2K	$0	$0
Net Income	-$12.3M-35.6%	-$9.1M-224.7%	-$2.8M-179.2%	-$1.0M+29.6%	-$1.4M-48.8%	-$958K
EPS (Diluted)	$-12.95	$-25.04	N/A	N/A	N/A	N/A

Metric	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21
Revenue	$5K-55.6%	$11K-70.3%	$38K-75.9%	$160K-36.5%	$251K+4663.3%	$5K-31.8%	$8K+424.2%	$1K
Cost of Revenue	$12K+184.3%	$4K-89.3%	$38K-64.4%	$107K-38.9%	$175K+4116.2%	$4K+32.7%	$3K+443.0%	$575
Gross Profit	-$6K-187.6%	$7K+1386.7%	$496-99.1%	$53K-30.9%	$77K+6665.5%	$1K-75.4%	$5K+412.2%	$900
R&D Expenses	$78K+36.7%	$57K-31.7%	$83K-2.0%	$85K-57.2%	$198K+310.1%	$48K+72.6%	$28K-49.3%	$55K
SG&A Expenses	$1.9M+3194.7%	$57K-95.8%	$1.4M+14.6%	$1.2M-45.3%	$2.2M+4387.9%	$48K-91.2%	$552K-1.4%	$559K
Operating Income	-$1.5M+62.6%	-$4.0M-83.3%	-$2.2M-15.7%	-$1.9M+63.2%	-$5.2M-197.3%	-$1.7M-62.6%	-$1.1M-50.6%	-$708K
Interest Expense	-$1.7M-348.1%	$703K-56.4%	$1.6M+493.7%	$272K-4.7%	$285K+317.3%	$68K+23.3%	$55K-5.7%	$59K
Income Tax	N/A	N/A	N/A	N/A	N/A	$30.0%	$3-99.5%	$622
Net Income	-$3.2M+27.1%	-$4.4M-76.5%	-$2.5M-16.4%	-$2.2M+60.9%	-$5.5M-206.8%	-$1.8M-60.7%	-$1.1M-71.4%	-$654K
EPS (Diluted)	N/A	$-0.040.0%	$-0.04	N/A	N/A	$-0.06-50.0%	$-0.04	N/A

BRSF Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$11.7M-12.2%	$13.4M+5841.1%	$225K-22.6%	$291K+61.6%	$180K-41.9%	$310K
Current Assets	$1.3M+15.6%	$1.1M+748.5%	$133K-53.9%	$289K+62.4%	$178K-42.3%	$309K
Cash & Equivalents	$748K-4.8%	$785K+1039.1%	$69K-73.6%	$261K+59.8%	$164K-45.0%	$298K
Inventory	$150K+2.4%	$146K+225.3%	$45K	$0	$0	$0
Accounts Receivable	$947-94.4%	$17K+1059.0%	$1K-73.7%	$6K	$0	N/A
Goodwill	N/A	$913K	N/A	N/A	N/A	N/A
Total Liabilities	$7.4M-47.2%	$14.1M+530.2%	$2.2M+88.2%	$1.2M+406.9%	$234K-80.8%	$1.2M
Current Liabilities	$7.4M+70.8%	$4.3M+104.8%	$2.1M+78.8%	$1.2M+422.7%	$227K-81.2%	$1.2M
Long-Term Debt	N/A	N/A	$31K	N/A	N/A	N/A
Total Equity	$4.3M+721.2%	-$695K+65.4%	-$2.0M-124.2%	-$896K-1559.3%	-$54K+94.1%	-$911K
Retained Earnings	-$34.6M-55.4%	-$22.3M-69.1%	-$13.2M-258.9%	-$3.7M-37.6%	-$2.7M-114.8%	-$1.2M

Metric	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21
Total Assets	$11.7M-16.2%	$14.0M-10.6%	$15.7M+24.1%	$12.6M-5.5%	$13.4M+9298.3%	$142K-31.8%	$209K+5.6%	$198K
Current Assets	$1.3M-46.7%	$2.5M-37.4%	$3.9M+509.1%	$643K-43.2%	$1.1M+695.3%	$142K-31.8%	$209K+5.6%	$198K
Cash & Equivalents	$748K-63.2%	$2.0M-42.7%	$3.5M+923.0%	$346K-55.9%	$785K+2861.5%	$27K-68.9%	$85K-10.5%	$95K
Inventory	$150K+18.6%	$126K-3.6%	$131K-16.0%	$156K+6.7%	$146K+7953.5%	$2K0.0%	$2K0.0%	$2K
Accounts Receivable	$947-84.1%	$6K+0.8%	$6K-70.5%	$20K+18.7%	$17K+10.2%	$15K-52.3%	$32K	N/A
Goodwill	N/A	$913K0.0%	$913K0.0%	$913K0.0%	$913K	N/A	N/A	N/A
Total Liabilities	$7.4M+8.7%	$6.8M+2.1%	$6.7M-55.8%	$15.1M+7.5%	$14.1M+110.2%	$6.7M+2.4%	$6.5M-18.1%	$8.0M
Current Liabilities	$7.4M+9.0%	$6.8M+2.5%	$6.6M+56.1%	$4.3M-2.0%	$4.3M-35.1%	$6.7M+2.5%	$6.5M-18.0%	$8.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$8K-59.4%	$20K
Total Equity	$4.3M-39.9%	$7.2M-20.1%	$9.0M+461.5%	-$2.5M-258.1%	-$695K+89.4%	-$6.5M-3.5%	-$6.3M+18.7%	-$7.8M
Retained Earnings	-$34.6M-10.3%	-$31.4M-16.5%	-$27.0M-10.3%	-$24.4M-9.7%	-$22.3M-112.3%	-$10.5M-3.1%	-$10.2M+8.8%	-$11.2M

BRSF Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	-$5.9M-1.2%	-$5.9M-529.7%	-$932K-9.0%	-$855K+23.2%	-$1.1M-27.4%	-$874K
Capital Expenditures	$33K-43.2%	$59K+93.1%	$30K+2922.0%	$1K-12.1%	$1K-41.6%	$2K
Free Cash Flow	-$6.0M-0.7%	-$5.9M-515.9%	-$962K-12.4%	-$856K+23.2%	-$1.1M-27.2%	-$876K
Investing Cash Flow	-$33K+43.2%	-$59K-93.1%	-$30K-2922.0%	-$1K+12.1%	-$1K+41.6%	-$2K
Financing Cash Flow	$5.9M-10.8%	$6.6M+671.4%	$861K-9.6%	$953K-2.7%	$980K-13.3%	$1.1M
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	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21
Operating Cash Flow	-$1.2M+12.4%	-$1.4M+20.2%	-$1.8M-19.1%	-$1.5M+51.4%	-$3.1M-156.2%	-$1.2M-30.8%	-$918K-36.4%	-$673K
Capital Expenditures	$6K-70.9%	$20K+1976.3%	$963-85.2%	$7K-68.0%	$20K+108.9%	$10K+14.4%	$8K-57.8%	$20K
Free Cash Flow	-$1.2M+13.2%	-$1.4M+19.1%	-$1.8M-18.6%	-$1.5M+51.5%	-$3.1M-155.8%	-$1.2M-30.6%	-$927K-33.7%	-$693K
Investing Cash Flow	-$6K+70.9%	-$20K-1976.3%	-$963+85.2%	-$7K-101.1%	$583K+207.4%	-$543K-591.5%	-$78K-290.1%	-$20K
Financing Cash Flow	-$88K-339.9%	-$20K-100.4%	$5.0M+369.3%	$1.1M-66.6%	$3.2M+388.6%	$650K-56.7%	$1.5M+13.6%	$1.3M
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

BRSF Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	25.3%-6.0pp	31.3%-22.0pp	53.3%+32.4pp	20.8%-20.8pp	41.6%+41.6pp	0.0%
Operating Margin	-4478.1%-1220.7pp	-3257.4%-300.6pp	-2956.8%-2758.5pp	-198.3%+2013.1pp	-2211.4%+70729.8pp	-72941.2%
Net Margin	-5753.0%-2328.4pp	-3424.6%-431.9pp	-2992.6%-2787.4pp	-205.2%+2248.8pp	-2454.0%+74764.5pp	-77218.5%
Return on Equity	-285.9%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-105.1%-37.1pp	-68.0%+1177.0pp	-1245.1%-900.1pp	-345.0%+446.8pp	-791.8%-482.7pp	-309.1%
Current Ratio	0.18-0.1	0.26+0.2	0.06-0.2	0.24-0.5	0.78+0.5	0.26
Debt-to-Equity	1.72+22.0	-20.25-20.2	-0.02+1.3	-1.32+3.0	-4.34-3.0	-1.34
FCF Margin	-2781.6%-551.9pp	-2229.7%-1202.6pp	-1027.1%-852.2pp	-174.9%+1741.7pp	-1916.7%+68639.3pp	-70556.0%

Metric	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21
Gross Margin	-127.1%-191.6pp	64.5%+63.2pp	1.3%-31.9pp	33.2%+2.7pp	30.5%+9.0pp	21.5%-38.2pp	59.6%-1.4pp	61.0%
Operating Margin	-29590.8%+5556.9pp	-35147.7%-29448.1pp	-5699.6%-4512.3pp	-1187.3%+862.8pp	-2050.1%+30793.2pp	-32843.3%-19065.3pp	-13777.9%+34192.0pp	-47970.0%
Net Margin	-63651.5%-24841.6pp	-38809.9%-32274.8pp	-6535.1%-5181.7pp	-1353.5%+845.5pp	-2198.9%+31940.2pp	-34139.1%-19644.3pp	-14494.9%+29844.4pp	-44339.3%
Return on Equity	-74.9%-13.2pp	-61.7%-33.8pp	-27.9%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-27.5%+4.1pp	-31.6%-15.6pp	-16.0%+1.1pp	-17.1%+24.2pp	-41.3%+1224.1pp	-1265.4%-728.3pp	-537.1%-206.2pp	-330.9%
Current Ratio	0.18-0.2	0.36-0.2	0.59+0.4	0.15-0.1	0.26+0.2	0.02-0.0	0.030.0	0.02
Debt-to-Equity	1.72+0.8	0.95+0.2	0.74+6.8	-6.08+14.2	-20.25-19.2	-1.02-1.0	-0.000.0	-0.00
FCF Margin	-24590.6%-11998.3pp	-12592.3%-7966.0pp	-4626.3%-3686.2pp	-940.0%+292.0pp	-1232.0%+21710.3pp	-22942.3%-10958.2pp	-11984.1%+35004.6pp	-46988.8%

Note: The current ratio is below 1.0 (0.18), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Brain Scientific's annual revenue?

Brain Scientific (BRSF) reported $215K in total revenue for fiscal year 2022. This represents a -19.3% 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 Brain Scientific's revenue growing?

Brain Scientific (BRSF) revenue declined by 19.3% year-over-year, from $266K to $215K in fiscal year 2022.

Is Brain Scientific profitable?

No, Brain Scientific (BRSF) reported a net income of -$12.3M in fiscal year 2022, with a net profit margin of -5753.0%.

What is Brain Scientific's EBITDA?

Brain Scientific (BRSF) had EBITDA of -$8.8M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.

What is Brain Scientific's gross margin?

Brain Scientific (BRSF) had a gross margin of 25.3% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.

What is Brain Scientific's operating margin?

Brain Scientific (BRSF) had an operating margin of -4478.1% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.

What is Brain Scientific's net profit margin?

Brain Scientific (BRSF) had a net profit margin of -5753.0% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.

What is Brain Scientific's return on equity (ROE)?

Brain Scientific (BRSF) has a return on equity of -285.9% for fiscal year 2022, measuring how efficiently the company generates profit from shareholder equity.

What is Brain Scientific's free cash flow?

Brain Scientific (BRSF) generated -$6.0M in free cash flow during fiscal year 2022. This represents a -0.7% 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 Brain Scientific's operating cash flow?

Brain Scientific (BRSF) generated -$5.9M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are Brain Scientific's total assets?

Brain Scientific (BRSF) had $11.7M in total assets as of fiscal year 2022, including both current and long-term assets.

What are Brain Scientific's capital expenditures?

Brain Scientific (BRSF) invested $33K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How much does Brain Scientific spend on research and development?

Brain Scientific (BRSF) invested $302K in research and development during fiscal year 2022.

How many shares does Brain Scientific have outstanding?

Brain Scientific (BRSF) had 1M shares outstanding as of fiscal year 2022.

What is Brain Scientific's current ratio?

Brain Scientific (BRSF) had a current ratio of 0.18 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is Brain Scientific's debt-to-equity ratio?

Brain Scientific (BRSF) had a debt-to-equity ratio of 1.72 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brain Scientific's return on assets (ROA)?

Brain Scientific (BRSF) had a return on assets of -105.1% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.

What is Brain Scientific's cash runway?

Based on fiscal year 2022 data, Brain Scientific (BRSF) had $748K in cash against an annual operating cash burn of $5.9M. This gives an estimated cash runway of approximately 2 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 Brain Scientific's Piotroski F-Score?

Brain Scientific (BRSF) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Brain Scientific's earnings high quality?

Brain Scientific (BRSF) has an earnings quality ratio of 0.48x, 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 Brain Scientific cover its interest payments?

Brain Scientific (BRSF) has an interest coverage ratio of -11.4x, 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.

How financially healthy is Brain Scientific?

Brain Scientific (BRSF) scores 11 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.