BRAIN SCIENTIFIC INC (BRSF) Financials
Newest figures come from the 10-K for FY2022, filed Mar 31, 2023. Each column of the statement tables below links to the filing it was taken from.
BRAIN SCIENTIFIC INC (BRSF) reported $215K in revenue for fiscal year 2022, down 19.3% from the prior fiscal year. This page shows its 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).
Development-stage economics remain dominated by operating investment, with financing inflows supporting persistent cash consumption and a strained short-term balance sheet.
In FY2022, operating cash flow of-$5.9M was less negative than net loss of-$12.3M , reflecting non-cash and other accounting adjustments in reported earnings. Financing cash flow of$5.9M nearly matched operating cash flow of-$5.9M , meaning external funding—not internal cash generation—financed nearly all reported operating cash needs.
FY2022 R&D spending was
Equity turned positive at
Financial Health Signals
BRAIN SCIENTIFIC INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
BRAIN SCIENTIFIC INC scores -7.36, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($932K) relative to total liabilities ($7.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
BRAIN SCIENTIFIC INC passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
BRAIN SCIENTIFIC INC reported a net loss of $12.3M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
BRAIN SCIENTIFIC INC reported an operating loss of $9.6M against $845K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
BRAIN SCIENTIFIC INC generated $5K in revenue in Q4 2022. This represents a decrease of 98.0% from the same quarter a year earlier. Against the prior quarter it is down 55.6%.
BRAIN SCIENTIFIC INC's EBITDA was -$1.9M in Q4 2022, measuring earnings before interest, taxes, depreciation, and amortization. Against the prior quarter it is up 42.6%.
BRAIN SCIENTIFIC INC reported -$3.2M in net income in Q4 2022. Against the prior quarter it is up 27.1%.
BRAIN SCIENTIFIC INC earned -$12.82 per diluted share (EPS) in Q4 2022. This represents an increase of 48.6% from the same quarter a year earlier.
Cash & Balance Sheet
BRAIN SCIENTIFIC INC recorded an outflow of $1.2M in free cash flow in Q4 2022, representing a cash shortfall after capex. This represents an increase of 59.6% from the same quarter a year earlier. Against the prior quarter it is up 13.2%.
BRAIN SCIENTIFIC INC held $748K in cash as of Q4 2022; long-term debt is not reported for that period.
Not reported for Q4 2022.
Margins & Returns
BRAIN SCIENTIFIC INC's ROE was -74.9% in Q4 2022, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 13.2 percentage points.
Not shown for Q4 2022: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2022: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2022: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
BRAIN SCIENTIFIC INC invested $78K in research and development in Q4 2022. This represents a decrease of 60.9% from the same quarter a year earlier. Against the prior quarter it is up 36.7%.
BRAIN SCIENTIFIC INC invested $6K in capex in Q4 2022, funding long-term assets and infrastructure. This represents a decrease of 71.3% from the same quarter a year earlier. Against the prior quarter it is down 70.9%.
Not reported for Q4 2022.
BRSF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q | Q2'2110-Q | Q1'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5K-98.0% | $11K+116.7% | $38K+397.5% | $160K+10719.5% | $251K | $5K-96.4% | $8K-91.1% | $1K-98.9% |
| Cost of Revenue | $12K-93.4% | $4K-2.1% | $38K+1116.1% | $107K+18452.2% | $175K | $4K-96.5% | $3K-95.0% | $575-99.5% |
| Gross Profit | -$6K-108.4% | $7K+551.4% | $496-89.2% | $53K+5779.2% | $77K | $1K-95.7% | $5K-80.7% | $900-96.9% |
| R&D Expenses | $78K-60.9% | $57K+17.4% | $83K+196.7% | $85K+53.6% | $198K | $48K-25.4% | $28K-40.4% | $55K-42.8% |
| SG&A Expenses | $1.9M-13.8% | $57K+17.4% | $1.4M+146.4% | $1.2M+111.9% | $2.2M | $48K-79.7% | $552K+209.0% | $559K+168.2% |
| Operating Income | -$1.5M | -$4.0M | -$2.2M | -$1.9M-167.8% | N/A | N/A | N/A | -$708K-56.5% |
| EBITDA | -$1.9M | -$3.2M | -$2.0M | -$1.7M-139.5% | N/A | N/A | N/A | -$707K-56.6% |
| Interest Expense | -$1.7M-711.6% | $703K+928.8% | $1.6M+2812.3% | $272K+362.6% | $285K | $68K | $55K | $59K-87.0% |
| Income Tax | N/A | N/A | N/A | N/A | N/A | $3 | $3 | $622 |
| Net Income | -$3.2M | -$4.4M | -$2.5M | -$2.2M-230.3% | N/A | N/A | N/A | -$654K |
| EPS (Basic) | -$12.82-9761.5% | -$0.04+33.3% | -$0.040.0% | -$0.04-100.0% | -$0.13-244.4% | -$0.06-20.0% | -$0.04+55.6% | -$0.02 |
| EPS (Diluted) | -$12.82+48.6% | -$0.04 | -$0.040.0% | N/A | -$24.92 | -$0.06-20.0% | -$0.04+55.6% | N/A |
| Diluted Shares (Avg) | N/A | 105M | 61M+107.0% | N/A | N/A | 30M+52.0% | 30M+52.3% | N/A |
BRSF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q | Q2'2110-Q | Q1'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.7M-12.2% | $14.0M+9752.6% | $15.7M+7419.0% | $12.6M+6295.1% | $13.4M+5841.1% | $142K-22.1% | $209K+142.0% | $198K+317.1% |
| Current Assets | $1.3M+15.6% | $2.5M+1623.4% | $3.9M+1776.4% | $643K+225.4% | $1.1M+748.5% | $142K-21.8% | $209K+144.8% | $198K+328.9% |
| Cash & Equivalents | $748K-4.8% | $2.0M+7554.3% | $3.5M+4057.9% | $346K+263.9% | $785K+1039.1% | $27K-65.0% | $85K+25.3% | $95K+240.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $150K+2.4% | $126K+6853.3% | $131K+7115.0% | $156K+8491.6% | $146K+225.3% | $2K-55.6% | $2K+388.9% | $2K+388.9% |
| Accounts Receivable | $947-94.4% | $6K-61.1% | $6K-81.6% | $20K | $17K+1059.0% | $15K+227.3% | $32K+392.7% | N/A |
| Long-Term Investments | $75K-21.1% | $80K | $85K | $90K | $95K | $0 | $0 | $0 |
| Goodwill | N/A | $913K | $913K | $913K | $913K | N/A | N/A | N/A |
| Total Liabilities | $7.4M-47.2% | $6.8M+2.1% | $6.7M+2.4% | $15.1M+89.5% | $14.1M+530.2% | $6.7M+44.5% | $6.5M+76.4% | $8.0M+324.7% |
| Current Liabilities | $7.4M+70.8% | $6.8M+1.7% | $6.6M+1.7% | $4.3M-46.6% | $4.3M+104.8% | $6.7M+45.8% | $6.5M+76.2% | $8.0M+323.7% |
| Non-Current Liabilities | $7K-99.9% | $29K | $50K+525.6% | $10.9M+54709.5% | $9.7M+8625.2% | $0-100.0% | $8K | $20K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $8K | $20K |
| Total Equity | $4.3M+721.2% | $7.2M+209.7% | $9.0M+242.2% | -$2.5M+68.0% | -$695K+65.4% | -$6.5M-47.2% | -$6.3M-74.8% | -$7.8M-324.9% |
| Retained Earnings | -$34.6M-55.4% | -$31.4M-199.2% | -$27.0M-164.9% | -$24.4M-119.1% | -$22.3M-69.1% | -$10.5M-42.1% | -$10.2M-58.0% | -$11.2M-141.2% |
BRSF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q | Q2'2110-Q | Q1'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.2M+59.6% | -$1.4M | -$1.8M-93.7% | -$1.5M-122.0% | -$3.1M-1163.8% | N/A | -$918K-467.4% | -$673K-166.7% |
| Depreciation & Amortization | $30K-85.2% | $778K+9751.1% | $201K | $201K+113924.4% | $200K | $8K+2189.3% | N/A | $176-48.4% |
| Stock-Based Compensation | N/A | N/A | N/A | N/A | N/A | $22K+174.8% | $22K+174.8% | $89K+1407.1% |
| Capital Expenditures | $6K-71.3% | $20K+105.7% | $963-88.7% | $7K-67.7% | $20K | $10K | $8K | $20K |
| Free Cash Flow | -$1.2M+59.6% | -$1.4M | -$1.8M-92.0% | -$1.5M-116.4% | -$3.1M | N/A | -$927K | -$693K |
| Investing Cash Flow | -$6K-101.0% | -$20K+96.3% | -$963+98.8% | -$7K+67.7% | $583K | -$543K | -$78K | -$20K |
| Financing Cash Flow | -$88K-102.8% | -$20K-103.1% | $5.0M | $1.1M | $3.2M+786.8% | $650K+129.4% | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BRSF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q | Q2'2110-Q | Q1'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -127.1% | 64.5%+43.0pp | 1.3%-58.3pp | 33.2%-27.9pp | 30.5% | 21.5%+3.3pp | 59.6%+32.1pp | 61.0%+39.5pp |
| Operating Margin | -29590.8% | -35147.7% | -5699.6% | -1187.3% | N/A | N/A | N/A | -47970.0% |
| Net Margin | -63651.5% | -38809.9% | -6535.1% | -1353.5% | N/A | N/A | N/A | -44339.3% |
| Return on Equity | -74.9% | -61.7% | -27.9% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -27.5% | -31.6% | -16.0% | -17.1%+313.8pp | N/A | N/A | N/A | -330.9% |
| Current Ratio | 0.18-0.1x | 0.36+0.3x | 0.59+0.6x | 0.15+0.1x | 0.26+0.2x | 0.020.0x | 0.030.0x | 0.020.0x |
| Debt-to-Equity | 1.72 | 0.95 | 0.74 | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.010.0x | 0.02 | 0.04-0.8x | 0.04-1.0x | 0.01-2.8x |
| FCF Margin | -24590.6% | -12592.3% | -4626.3% | -940.0% | -1232.0% | N/A | -11984.1% | -46988.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.18), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| BRAIN SCIENTIFIC INC BRSF | FY2022 | $215K | -$12.3M | N/A | $932K | — |
| DYNATRONICS CORP DYNT | FY2025 | $27.4M | -$10.9M | -39.8% | $1.0M | — |
| ELECTROMEDICAL TECH INC EMED | FY2023 | $1.3M | -$2.6M | N/A | $373K | — |
| QHSLAB, INC USAQ | FY2025 | $2.7M | -$457K | -17.0% | $6.0M | — |
Where BRAIN SCIENTIFIC INC Ranks
Frequently Asked Questions
What is BRAIN SCIENTIFIC INC's annual revenue?
BRAIN SCIENTIFIC INC (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 INC's revenue growing?
BRAIN SCIENTIFIC INC (BRSF) revenue declined by 19.3% year-over-year, from $266K to $215K in fiscal year 2022.
Is BRAIN SCIENTIFIC INC profitable?
No, BRAIN SCIENTIFIC INC (BRSF) reported a net income of -$12.3M in fiscal year 2022.
What is BRAIN SCIENTIFIC INC's EBITDA?
BRAIN SCIENTIFIC INC (BRSF) had EBITDA of -$8.8M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
What is BRAIN SCIENTIFIC INC's gross margin?
BRAIN SCIENTIFIC INC (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 INC's return on equity (ROE)?
BRAIN SCIENTIFIC INC (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 INC's free cash flow?
BRAIN SCIENTIFIC INC (BRSF) recorded an outflow of $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 INC's operating cash flow?
BRAIN SCIENTIFIC INC (BRSF) recorded an outflow of $5.9M in operating cash flow during fiscal year 2022, representing cash used by core business activities.
What are BRAIN SCIENTIFIC INC's total assets?
BRAIN SCIENTIFIC INC (BRSF) had $11.7M in total assets as of fiscal year 2022, including both current and long-term assets.
What are BRAIN SCIENTIFIC INC's capital expenditures?
BRAIN SCIENTIFIC INC (BRSF) invested $33K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
How much does BRAIN SCIENTIFIC INC spend on research and development?
BRAIN SCIENTIFIC INC (BRSF) invested $302K in research and development during fiscal year 2022.
What is BRAIN SCIENTIFIC INC's current ratio?
BRAIN SCIENTIFIC INC (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 INC's debt-to-equity ratio?
BRAIN SCIENTIFIC INC (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 INC's return on assets (ROA)?
BRAIN SCIENTIFIC INC (BRSF) had a return on assets of -105.1% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
How does BRAIN SCIENTIFIC INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2022, BRAIN SCIENTIFIC INC (BRSF) held $823K in cash, cash equivalents and investments, and reported an operating cash outflow of $5.9M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is BRAIN SCIENTIFIC INC's Altman Z-Score?
BRAIN SCIENTIFIC INC (BRSF) has an Altman Z-Score of -7.36, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is BRAIN SCIENTIFIC INC's Piotroski F-Score?
BRAIN SCIENTIFIC INC (BRSF) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 BRAIN SCIENTIFIC INC's earnings high quality?
BRAIN SCIENTIFIC INC (BRSF) reported a net loss of $12.3M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 INC cover its interest payments?
BRAIN SCIENTIFIC INC (BRSF) reported an operating loss of $9.6M against $845K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.