Can B Corp Financials
Can B Corp (CANB) reported $2.2M in revenue for fiscal year 2023, down 67.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Fixed-cost strain dominates: falling sales and shrinking gross margin leave operating losses far larger than revenue.
The earnings-to-cash gap is unusually wide in FY2023: net loss was-$9.7M while operating cash flow was-$1.3M . That difference indicates non-cash charges and financing-related costs heavily depressed accounting earnings, but the business still consumed cash from operations. Meanwhile, the margin contraction across the latest periods means weak profitability reflects both reduced contribution per sale and an expense base that sales could not absorb.
FY2023 revenue was
Liabilities reached
Financial Health Signals
Can B Corp 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.
Can B Corp scores -17.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.4M) relative to total liabilities ($12.0M). 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.
Can B Corp passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Can B Corp reported a net loss of $9.7M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Can B Corp reported an operating loss of $7.5M against $2.5M 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
Can B Corp generated $2.2M in revenue in fiscal year 2023. This represents a decrease of 67.8% from the prior year.
Can B Corp's EBITDA was -$6.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 52.2% from the prior year.
Can B Corp reported -$9.7M in net income in fiscal year 2023. This represents an increase of 34.8% from the prior year.
Cash & Balance Sheet
Can B Corp recorded an outflow of $1.3M in free cash flow in fiscal year 2023, representing a cash shortfall after capex.
Can B Corp held $34K in cash as of fiscal year 2023; long-term debt is not reported for that period.
Not reported for fiscal year 2023.
Margins & Returns
Can B Corp's gross margin was 16.6% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 22.5 percentage points from the prior year.
Not shown for fiscal year 2023: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2023: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2023.
Capital Allocation
Can B Corp invested $15K in capex in fiscal year 2023, funding long-term assets and infrastructure.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
CANB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15K-94.4% | $272K-26.2% | $369K-2.1% | $377K-10.0% | $419K-0.4% | $421K-55.2% | $939K+41.0% | $666K |
| Cost of Revenue | $416K-37.5% | $665K-44.2% | $1.2M+232.9% | -$898K-172.6% | $1.2M+32.2% | $934K+78.1% | $525K-36.1% | $821K |
| Gross Profit | -$401K-1.9% | -$393K+52.3% | -$824K-164.7% | $1.3M+256.1% | -$817K-58.9% | -$514K-223.9% | $415K+368.0% | -$155K |
| SG&A Expenses | $2.4M+107.2% | $1.2M-30.5% | $1.7M | N/A | $2.8M+111.2% | $1.3M-29.3% | $1.8M | N/A |
| Operating Income | -$2.8M-80.8% | -$1.6M+72.3% | -$5.7M-767.7% | -$652K+81.8% | -$3.6M-96.4% | -$1.8M-27.0% | -$1.4M+44.6% | -$2.6M |
| Interest Expense | $430K-7.2% | $463K-8.5% | $506K-56.9% | $1.2M+100.7% | $585K+40.6% | $416K+24.7% | $334K+37.6% | $243K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | $10K | N/A |
| Net Income | -$3.3M-60.8% | -$2.0M+67.1% | -$6.2M-241.1% | -$1.8M+56.6% | -$4.2M-105.5% | -$2.0M-16.6% | -$1.7M+40.0% | -$2.9M |
| EPS (Diluted) | -$0.05-25.0% | -$0.04+75.0% | -$0.16 | N/A | -$0.36 | -$0.37-2.8% | -$0.36 | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
CANB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.9M-62.3% | $4.9M-7.6% | $5.3M-47.4% | $10.1M-22.6% | $13.1M-10.3% | $14.6M-6.4% | $15.6M+0.1% | $15.6M |
| Current Assets | $1.6M-59.9% | $4.0M-5.9% | $4.2M-21.4% | $5.4M-29.5% | $7.6M-9.4% | $8.4M-7.9% | $9.1M+5.1% | $8.7M |
| Cash & Equivalents | $8K | N/A | $27K-21.8% | $34K+8.6% | $31K-74.6% | $123K-37.1% | $196K+168.1% | $73K |
| Inventory | $156K-72.3% | $563K-5.1% | $593K-63.4% | $1.6M+68.8% | $960K-38.2% | $1.6M-23.5% | $2.0M+0.4% | $2.0M |
| Accounts Receivable | $1.4M-58.3% | $3.4M-5.4% | $3.6M-3.3% | $3.7M-43.7% | $6.6M-1.6% | $6.7M-2.5% | $6.9M+4.7% | $6.6M |
| Total Liabilities | $11.6M+4.8% | $11.1M+6.9% | $10.4M-13.3% | $12.0M-6.8% | $12.9M-8.3% | $14.0M+6.9% | $13.1M+2.0% | $12.9M |
| Current Liabilities | $11.6M+4.8% | $11.1M+6.9% | $10.4M-13.3% | $12.0M-6.8% | $12.9M-6.3% | $13.7M+6.8% | $12.8M+3.4% | $12.4M |
| Total Equity | -$9.8M-44.9% | -$6.8M-27.1% | -$5.3M-186.1% | -$1.9M-945.9% | $220K-60.4% | $555K-77.4% | $2.5M-9.0% | $2.7M |
| Retained Earnings | -$113.9M-2.9% | -$110.7M-1.9% | -$108.6M-6.0% | -$102.5M-1.8% | -$100.6M-4.3% | -$96.5M-2.1% | -$94.4M-1.9% | -$92.7M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
CANB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $9K+106.9% | -$131K-160.4% | $217K+43.2% | $151K+173.3% | -$207K+39.8% | -$343K+62.1% | -$906K-72.1% | -$526K |
| Capital Expenditures | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $15K | N/A |
| Free Cash Flow | N/A | N/A | N/A | $151K+173.3% | -$207K+39.8% | -$343K+62.7% | -$921K | N/A |
| Investing Cash Flow | -$6K | N/A | N/A | $369 | $0 | $0+100.0% | -$85K | N/A |
| Financing Cash Flow | $5K-95.1% | $108K+148.2% | -$224K-50.4% | -$149K-230.2% | $115K-57.7% | $270K-75.7% | $1.1M+97.1% | $565K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CANB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -2623.3% | -144.4% | -223.3% | 338.2% | -194.9% | -122.2% | 44.1%+67.4pp | -23.2% |
| Operating Margin | -18553.7% | -575.5% | -1532.1% | -172.9% | -854.1% | -433.1% | -152.8% | -388.8% |
| Net Margin | -21367.6% | -745.0% | -1669.3% | -479.2% | -994.2% | -481.9% | -185.1% | -435.3% |
| Return on Equity | N/A | N/A | N/A | N/A | -1896.8%-1531.5pp | -365.3%-294.4pp | -70.9%+36.6pp | -107.5% |
| Return on Assets | -175.8%-134.5pp | -41.2%+74.5pp | -115.8%-97.9pp | -17.8%+14.0pp | -31.9%-18.0pp | -13.9%-2.7pp | -11.2%+7.5pp | -18.6% |
| Current Ratio | 0.14-0.2x | 0.360.0x | 0.410.0x | 0.45-0.1x | 0.590.0x | 0.61-0.1x | 0.710.0x | 0.70 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 58.54+33.3x | 25.28+19.9x | 5.35+0.6x | 4.77 |
| FCF Margin | N/A | N/A | N/A | 40.2%+89.5pp | -49.3%+32.3pp | -81.6%+16.5pp | -98.1% | N/A |
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.
Note: Shareholder equity is negative (-$1.9M), 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 (0.45), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Can B Corp Ranks
Frequently Asked Questions
What is Can B Corp's annual revenue?
Can B Corp (CANB) reported $2.2M in total revenue for fiscal year 2023. This represents a -67.8% 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 Can B Corp's revenue growing?
Can B Corp (CANB) revenue declined by 67.8% year-over-year, from $6.7M to $2.2M in fiscal year 2023.
Is Can B Corp profitable?
No, Can B Corp (CANB) reported a net income of -$9.7M in fiscal year 2023.
What is Can B Corp's EBITDA?
Can B Corp (CANB) had EBITDA of -$6.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is Can B Corp's gross margin?
Can B Corp (CANB) had a gross margin of 16.6% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is Can B Corp's free cash flow?
Can B Corp (CANB) recorded an outflow of $1.3M in free cash flow during fiscal year 2023. 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 Can B Corp's operating cash flow?
Can B Corp (CANB) recorded an outflow of $1.3M in operating cash flow during fiscal year 2023, representing cash used by core business activities.
What are Can B Corp's total assets?
Can B Corp (CANB) had $10.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Can B Corp's capital expenditures?
Can B Corp (CANB) invested $15K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
What is Can B Corp's current ratio?
Can B Corp (CANB) had a current ratio of 0.45 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is Can B Corp's return on assets (ROA)?
Can B Corp (CANB) had a return on assets of -96.2% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
Why is Can B Corp's debt-to-equity ratio negative or not reported?
Can B Corp (CANB) has negative shareholder equity of -$1.9M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Can B Corp's Altman Z-Score?
Can B Corp (CANB) has an Altman Z-Score of -17.11, 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 Can B Corp's Piotroski F-Score?
Can B Corp (CANB) has a Piotroski F-Score of 1 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 Can B Corp's earnings high quality?
Can B Corp (CANB) reported a net loss of $9.7M while operations used $1.3M 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 Can B Corp cover its interest payments?
Can B Corp (CANB) reported an operating loss of $7.5M against $2.5M 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.