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C-Bond Systems Inc. Financials

CBNT
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2024 Currency USD FYE December

This page shows C-Bond Systems Inc. (CBNT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).

Rhea AI CBNT FY2023

Paper profitability appeared in FY2023, but cash burn and balance-sheet dependence still shape how this business operates.

The FY2023 earnings turnaround did not fix cash conversion quality: net income reached $1.9M, yet operating cash flow remained -$1.6M. Because that burn was roughly unchanged from FY2022 even after a 75.8% net margin, the reported profit looks more like an accounting improvement than a business that now funds itself.

Year-end cash rose to $736K, but near-term liquidity still looks strained because current assets covered only 0.5x of current liabilities. The cash increase also coincided with $3.9M of investing inflow, so the stronger cash balance was not created by the core operation.

Over the last two fiscal years, shares outstanding rose sharply to 532.8M while negative equity still stood at -$4.5M, a sign the company has been financed externally rather than through accumulated profits. Revenue also moved only from $2.2M to $2.5M, so the profit reversal is much larger than the visible sales improvement alone.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 29 / 100
Financial Profile 29/100

Based on FY2023 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 C-Bond Systems Inc.'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.

Profitability
0

C-Bond Systems Inc. has an operating margin of 82.6%, meaning the company retains $83 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 -143.0% the prior year.

Growth
83

C-Bond Systems Inc.'s revenue grew 11.5% year-over-year to $2.5M, a solid pace of expansion. This earns a growth score of 83/100.

Leverage
84

C-Bond Systems Inc. carries a low D/E ratio of -1.51, meaning only $-1.51 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
4

C-Bond Systems Inc.'s current ratio of 0.50 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
0

While C-Bond Systems Inc. generated -$1.6M in operating cash flow, capex of $115K consumed most of it, leaving -$1.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Altman Z-Score Distress
-33.94

C-Bond Systems Inc. scores -33.94, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($239K) relative to total liabilities ($6.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
4/9

C-Bond Systems Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality
-0.85x

For every $1 of reported earnings, C-Bond Systems Inc. generates $-0.85 in operating cash flow (-$1.6M OCF vs $1.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe
363.0x

C-Bond Systems Inc. earns $363.0 in operating income for every $1 of interest expense ($2.1M vs $6K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.5M
YoY+11.5%
5Y CAGR+45.5%
10Y CAGR+41.4%

C-Bond Systems Inc. generated $2.5M in revenue in fiscal year 2023. This represents an increase of 11.5% from the prior year.

EBITDA
$2.1M
YoY+169.1%
10Y CAGR+74.7%

C-Bond Systems Inc.'s EBITDA was $2.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 169.1% from the prior year.

Net Income
$1.9M
YoY+136.6%
10Y CAGR+77.6%

C-Bond Systems Inc. reported $1.9M in net income in fiscal year 2023. This represents an increase of 136.6% from the prior year.

EPS (Diluted)
$0.00
YoY+100.0%

C-Bond Systems Inc. earned $0.00 per diluted share (EPS) in fiscal year 2023. This represents an increase of 100.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$1.7M

C-Bond Systems Inc. generated -$1.7M in free cash flow in fiscal year 2023, representing cash available after capex.

Cash & Debt
$736K
YoY+658.5%
5Y CAGR+41.8%
10Y CAGR+12.6%

C-Bond Systems Inc. held $736K in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share
N/A
Shares Outstanding
533M
YoY+52.1%
5Y CAGR+45.9%

C-Bond Systems Inc. had 533M shares outstanding in fiscal year 2023. This represents an increase of 52.1% from the prior year.

Margins & Returns

Gross Margin
52.5%
YoY-4.7pp
5Y CAGR-25.7pp

C-Bond Systems Inc.'s gross margin was 52.5% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 4.7 percentage points from the prior year.

Operating Margin
82.6%
YoY+225.6pp
10Y CAGR+75.2pp

C-Bond Systems Inc.'s operating margin was 82.6% in fiscal year 2023, reflecting core business profitability. This is up 225.6 percentage points from the prior year.

Net Margin
75.8%
YoY+306.8pp
10Y CAGR+68.0pp

C-Bond Systems Inc.'s net profit margin was 75.8% in fiscal year 2023, showing the share of revenue converted to profit. This is up 306.8 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
$0

C-Bond Systems Inc. invested $0 in research and development in fiscal year 2023.

Share Buybacks
N/A
Capital Expenditures
$115K

C-Bond Systems Inc. invested $115K in capex in fiscal year 2023, funding long-term assets and infrastructure.

CBNT Income Statement

Metric Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Q4'22
Revenue $660K-23.6% $864K-7.8% $937K+25.7% $745K-8.4% $814K+96.6% $414K-19.6% $515K-15.2% $608K
Cost of Revenue $382K-10.2% $425K-8.0% $462K+21.6% $380K+9.6% $347K+65.8% $209K-14.8% $245K-1.4% $249K
Gross Profit $278K-36.6% $439K-7.6% $475K+30.0% $365K-21.8% $467K+128.0% $205K-24.0% $270K-24.9% $359K
R&D Expenses N/A N/A $0 N/A N/A N/A $0 N/A
SG&A Expenses $151K-10.9% $169K-13.5% $196K+7.0% $183K+12.9% $162K+13.7% $142K-20.4% $179K-19.4% $222K
Operating Income -$363K-88.7% -$192K+70.0% -$642K+18.4% -$786K-585.9% -$115K-103.3% $3.5M+764.6% -$524K+13.7% -$606K
Interest Expense $88K+65.0% $54K+279.7% $14K+124.1% -$59K-200.0% $59K+2888.1% $2K-46.9% $4K+100.4% -$1.0M
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$673K-173.5% -$246K+22.4% -$317K+68.8% -$1.0M-519.9% -$164K-104.3% $3.8M+634.3% -$706K+44.9% -$1.3M
EPS (Diluted) $0.00 $0.00 $0.00 N/A $0.00 $0.00 $0.00 N/A

CBNT Balance Sheet

Metric Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Q4'22
Total Assets $1.4M-15.2% $1.7M-14.5% $2.0M-14.3% $2.3M-8.6% $2.5M-7.5% $2.7M+81.3% $1.5M-8.2% $1.6M
Current Assets $587K-30.3% $841K-22.5% $1.1M-21.0% $1.4M-11.4% $1.5M-15.4% $1.8M+325.9% $430K-16.6% $515K
Cash & Equivalents $22K-89.0% $196K-0.8% $198K-73.1% $736K-35.0% $1.1M-25.0% $1.5M+1721.5% $83K-14.5% $97K
Inventory $146K-9.6% $162K+59.3% $102K-44.0% $182K+64.6% $110K-7.4% $119K+100.8% $59K-23.4% $77K
Accounts Receivable $227K-6.9% $243K-52.0% $507K+19.6% $424K+56.6% $271K+236.4% $81K-59.5% $199K-26.3% $269K
Goodwill $350K0.0% $350K0.0% $350K0.0% $350K0.0% $350K0.0% $350K0.0% $350K0.0% $350K
Total Liabilities $6.4M+6.5% $6.0M-3.9% $6.3M-7.3% $6.7M+13.4% $6.0M+1.4% $5.9M-33.1% $8.8M-0.6% $8.8M
Current Liabilities $2.4M+12.6% $2.1M+2.0% $2.1M-24.2% $2.7M-3.5% $2.8M-2.8% $2.9M-42.1% $5.0M+3.2% $4.9M
Long-Term Debt N/A N/A N/A N/A $8K N/A $169K-32.9% $251K
Total Equity -$5.0M-14.9% -$4.3M-0.9% -$4.3M+3.7% -$4.5M-29.3% -$3.5M-9.1% -$3.2M+56.5% -$7.3M-1.1% -$7.2M
Retained Earnings -$62.1M-1.1% -$61.4M-0.4% -$61.2M-0.5% -$60.9M-1.7% -$59.8M-0.3% -$59.6M+6.0% -$63.4M-1.1% -$62.7M

CBNT Cash Flow Statement

Metric Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Q4'22
Operating Cash Flow -$324K-101.8% -$161K+75.3% -$651K-74.2% -$374K-18.6% -$315K+49.3% -$622K-113.8% -$291K+27.6% -$402K
Capital Expenditures N/A N/A N/A $0 N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A -$374K N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A $9K+107.8% -$115K N/A N/A N/A
Financing Cash Flow $192K+20.5% $159K+41.4% $113K+455.0% -$32K-161.4% $52K+102.6% -$2.0M-819.5% $277K-18.8% $341K
Dividends Paid N/A -$3K-105.0% $59K 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

CBNT Financial Ratios

Metric Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Q4'22
Gross Margin 42.1%-8.6pp 50.8%+0.1pp 50.7%+1.7pp 49.0%-8.4pp 57.4%+7.9pp 49.5%-2.9pp 52.4%-6.7pp 59.1%
Operating Margin -55.0%-32.7pp -22.3%+46.2pp -68.5%+37.0pp -105.5%-91.4pp -14.1%-854.5pp 840.4%+942.1pp -101.6%-1.9pp -99.8%
Net Margin -102.0%-73.5pp -28.5%+5.4pp -33.9%+102.6pp -136.5%-116.3pp -20.2%-931.7pp 911.5%+1048.6pp -137.1%+73.7pp -210.8%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -47.4%-32.7pp -14.7%+1.5pp -16.2%+28.3pp -44.5%-38.0pp -6.6%-146.3pp 139.7%+187.1pp -47.4%+31.5pp -78.9%
Current Ratio 0.25-0.2 0.40-0.1 0.53+0.0 0.50-0.0 0.55-0.1 0.63+0.5 0.09-0.0 0.11
Debt-to-Equity -1.28+0.1 -1.39+0.1 -1.45+0.1 -1.51-1.5 -0.00+1.9 -1.85-1.8 -0.02+0.0 -0.03
FCF Margin N/A N/A N/A -50.2% N/A N/A N/A N/A

Note: Shareholder equity is negative (-$4.5M), 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 (0.50), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

C-Bond Systems Inc. (CBNT) reported $2.5M in total revenue for fiscal year 2023. This represents a 11.5% 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.

C-Bond Systems Inc. (CBNT) revenue grew by 11.5% year-over-year, from $2.2M to $2.5M in fiscal year 2023.

Yes, C-Bond Systems Inc. (CBNT) reported a net income of $1.9M in fiscal year 2023, with a net profit margin of 75.8%.

C-Bond Systems Inc. (CBNT) reported diluted earnings per share of $0.00 for fiscal year 2023. This represents a 100.0% change compared to the previous fiscal year. 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.

C-Bond Systems Inc. (CBNT) had EBITDA of $2.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

C-Bond Systems Inc. (CBNT) had a gross margin of 52.5% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

C-Bond Systems Inc. (CBNT) had an operating margin of 82.6% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

C-Bond Systems Inc. (CBNT) had a net profit margin of 75.8% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.

C-Bond Systems Inc. (CBNT) generated -$1.7M 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.

C-Bond Systems Inc. (CBNT) generated -$1.6M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

C-Bond Systems Inc. (CBNT) had $2.3M in total assets as of fiscal year 2023, including both current and long-term assets.

C-Bond Systems Inc. (CBNT) invested $115K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.

C-Bond Systems Inc. (CBNT) had 533M shares outstanding as of fiscal year 2023.

C-Bond Systems Inc. (CBNT) had a current ratio of 0.50 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.

C-Bond Systems Inc. (CBNT) had a debt-to-equity ratio of -1.51 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

C-Bond Systems Inc. (CBNT) had a return on assets of 82.6% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2023 data, C-Bond Systems Inc. (CBNT) had $736K in cash against an annual operating cash burn of $1.6M. This gives an estimated cash runway of approximately 6 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.

C-Bond Systems Inc. (CBNT) has negative shareholder equity of -$4.5M 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.

C-Bond Systems Inc. (CBNT) has an Altman Z-Score of -33.94, 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.

C-Bond Systems Inc. (CBNT) 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.

C-Bond Systems Inc. (CBNT) has an earnings quality ratio of -0.85x, 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.

C-Bond Systems Inc. (CBNT) has an interest coverage ratio of 363.0x, meaning it can comfortably 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.

C-Bond Systems Inc. (CBNT) scores 29 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.

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