Can B Corp Financials
This page shows Can B Corp (CANB) financial statements, including the 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).
External financing is plugging an operating cash shortfall while shrinking gross margin leaves little room to rebuild liquidity.
In FY2023, financing cash inflow of$1.35M almost exactly matched operating cash burn of-$1.30M , showing new money was used to keep operations running rather than to build liquidity. With current liabilities equaling total liabilities and the current ratio dropping from 0.7x to 0.4x, the balance sheet now carries mostly near-term obligations just as equity turned negative.
This is not a simple "grow into profitability" story: at its best recent sales level, revenue reached
Free cash flow of
Financial Health Signals
We are recalculating Can B Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. 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.
For every $1 of reported earnings, Can B Corp generates $0.13 in operating cash flow (-$1.3M OCF vs -$9.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Can B Corp earns $-3.0 in operating income for every $1 of interest expense (-$7.5M vs $2.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
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.
Can B Corp earned $-0.77 per diluted share (EPS) in fiscal year 2023. This represents an increase of 81.6% from the prior year.
Cash & Balance Sheet
Can B Corp generated -$1.3M in free cash flow in fiscal year 2023, representing cash available after capex.
Can B Corp held $34K in cash against $0 in long-term debt as of fiscal year 2023.
Can B Corp had 33M shares outstanding in fiscal year 2023. This represents an increase of 709.4% from the prior year.
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.
Can B Corp's operating margin was -347.3% in fiscal year 2023, reflecting core business profitability. This is down 135.4 percentage points from the prior year.
Can B Corp's net profit margin was -451.7% in fiscal year 2023, showing the share of revenue converted to profit. This is down 228.5 percentage points from the prior year.
Capital Allocation
Can B Corp invested $15K in capex in fiscal year 2023, funding long-term assets and infrastructure.
CANB Income Statement
| 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 |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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+2.7% | $-0.37-2.8% | $-0.36 | N/A |
CANB Balance Sheet
| 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 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 |
CANB Cash Flow Statement
| 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 |
| 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 |
CANB Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -2623.3%-2478.9pp | -144.4%+78.9pp | -223.3%-561.4pp | 338.2%+533.1pp | -194.9%-72.8pp | -122.2%-166.3pp | 44.1%+67.4pp | -23.2% |
| Operating Margin | -18553.7%-17978.2pp | -575.5%+956.6pp | -1532.1%-1359.2pp | -172.9%+681.2pp | -854.1%-421.0pp | -433.1%-280.4pp | -152.8%+236.0pp | -388.8% |
| Net Margin | -21367.6%-20622.5pp | -745.0%+924.2pp | -1669.3%-1190.1pp | -479.2%+515.0pp | -994.2%-512.3pp | -481.9%-296.8pp | -185.1%+250.2pp | -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 | 0.14-0.2 | 0.36-0.0 | 0.41-0.0 | 0.45-0.1 | 0.59-0.0 | 0.61-0.1 | 0.71+0.0 | 0.70 |
| Debt-to-Equity | -1.19+0.5 | -1.65+0.3 | -1.96+4.5 | -6.45-65.0 | 58.54+33.3 | 25.28+19.9 | 5.35+0.6 | 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 |
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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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, with a net profit margin of -451.7%.
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 operating margin?
Can B Corp (CANB) had an operating margin of -347.3% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Can B Corp's net profit margin?
Can B Corp (CANB) had a net profit margin of -451.7% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Can B Corp's free cash flow?
Can B Corp (CANB) generated -$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) generated -$1.3M in operating cash flow during fiscal year 2023, representing cash generated from 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 debt-to-equity ratio?
Can B Corp (CANB) had a debt-to-equity ratio of -6.45 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
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.
What is Can B Corp's cash runway?
Based on fiscal year 2023 data, Can B Corp (CANB) had $34K in cash against an annual operating cash burn of $1.3M. This gives an estimated cash runway of approximately 0 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.
Why is Can B Corp's debt-to-equity ratio negative or unusual?
Can B Corp (CANB) has negative shareholder equity of -$1.9M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. 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) has an earnings quality ratio of 0.13x, 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 Can B Corp cover its interest payments?
Can B Corp (CANB) has an interest coverage ratio of -3.0x, 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.