Cls Holdings Usa Financials

CLSH

Source SEC Filings (10-K/10-Q) Updated Feb 28, 2025 Currency USD FYE May

This page shows Cls Holdings Usa (CLSH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 4/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Cls Holdings Usa has an operating margin of -10.0%, meaning the company retains $-10 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 -16.3% the prior year.

Growth

Cls Holdings Usa's revenue declined 13.7% year-over-year, from $23.1M to $20.0M. This contraction results in a growth score of 0/100.

Liquidity

Cls Holdings Usa's current ratio of 0.23 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

Cls Holdings Usa's free cash flow margin of 3.3% results in a low score of 17/100. Capital expenditures of $148K absorb a large share of operating cash flow.

Piotroski F-Score Neutral

5/9

Cls Holdings Usa passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.18x

For every $1 of reported earnings, Cls Holdings Usa generates $-0.18 in operating cash flow ($809K OCF vs -$4.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.1x

Cls Holdings Usa earns $-1.1 in operating income for every $1 of interest expense (-$2.0M vs $1.9M). 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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Revenue

$20.0M

YoY-13.7%

5Y CAGR+18.7%

Cls Holdings Usa generated $20.0M in revenue in fiscal year 2024. This represents a decrease of 13.7% from the prior year.

EBITDA

-$1.2M

YoY+58.5%

Cls Holdings Usa's EBITDA was -$1.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 58.5% from the prior year.

Free Cash Flow

$661K

YoY+272.9%

Cls Holdings Usa generated $661K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 272.9% from the prior year.

Net Income

-$4.5M

YoY+67.5%

Cls Holdings Usa reported -$4.5M in net income in fiscal year 2024. This represents an increase of 67.5% from the prior year.

EPS (Diluted)

$-0.05

YoY+78.3%

Cls Holdings Usa earned $-0.05 per diluted share (EPS) in fiscal year 2024. This represents an increase of 78.3% from the prior year.

Cash & Debt

$600K

YoY-39.9%

5Y CAGR-43.6%

Cls Holdings Usa held $600K in cash against $6.8M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

125M

YoY+71.6%

Cls Holdings Usa had 125M shares outstanding in fiscal year 2024. This represents an increase of 71.6% from the prior year.

Gross Margin

42.7%

YoY-3.0pp

5Y CAGR-0.2pp

Cls Holdings Usa's gross margin was 42.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.0 percentage points from the prior year.

Operating Margin

-10.0%

YoY+6.3pp

5Y CAGR+260.1pp

Cls Holdings Usa's operating margin was -10.0% in fiscal year 2024, reflecting core business profitability. This is up 6.3 percentage points from the prior year.

Net Margin

-22.5%

YoY+37.2pp

5Y CAGR+304.0pp

Cls Holdings Usa's net profit margin was -22.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 37.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$4K

YoY+418.5%

Cls Holdings Usa invested $4K in research and development in fiscal year 2024. This represents an increase of 418.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$148K

YoY-2.7%

5Y CAGR-32.2%

Cls Holdings Usa invested $148K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 2.7% from the prior year.

CLSH Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$20.0M-13.7%	$23.1M+2.1%	$22.7M+17.5%	$19.3M+61.9%	$11.9M+40.9%	$8.5M
Cost of Revenue	$11.4M-8.9%	$12.6M+3.2%	$12.2M+26.2%	$9.6M+61.8%	$6.0M+23.2%	$4.8M
Gross Profit	$8.5M-19.4%	$10.6M+0.8%	$10.5M+8.7%	$9.6M+61.9%	$6.0M+64.5%	$3.6M
R&D Expenses	$4K+418.5%	$809-95.3%	$17K-53.2%	$37K	$0	$0
SG&A Expenses	$10.5M-11.5%	$11.9M+4.5%	$11.4M+5.3%	$10.8M+23.1%	$8.8M-66.8%	$26.5M
Operating Income	-$2.0M+46.9%	-$3.8M-328.4%	-$878K+76.0%	-$3.7M+87.0%	-$28.0M-22.6%	-$22.8M
Interest Expense	$1.9M-28.8%	$2.7M+24.1%	$2.1M-41.2%	$3.7M+24.3%	$2.9M-33.9%	$4.4M
Income Tax	$2.1M-3.3%	$2.2M+8.8%	$2.0M-18.0%	$2.5M	$0	$0
Net Income	-$4.5M+67.5%	-$13.8M-488.9%	-$2.3M+85.3%	-$15.9M+48.2%	-$30.7M-11.0%	-$27.6M
EPS (Diluted)	$-0.05+78.3%	$-0.23-187.5%	$-0.08	$-0.13+45.8%	$-0.24+11.1%	$-0.27

Metric	Q3'25	Q2'25	Q1'25	Q2'23	Q3'24	Q2'24	Q1'24	Q2'22
Revenue	$3.9M-7.4%	$4.2M-13.4%	$4.8M-11.2%	$5.4M-0.4%	$5.4M-10.5%	$6.1M+0.5%	$6.0M+23.2%	$4.9M
Cost of Revenue	$2.3M-3.3%	$2.4M-13.3%	$2.8M+2.7%	$2.7M-6.5%	$2.9M-8.8%	$3.1M+0.1%	$3.1M+42.3%	$2.2M
Gross Profit	$1.5M-12.9%	$1.8M-13.5%	$2.0M-25.0%	$2.7M+6.4%	$2.6M-12.3%	$2.9M+0.9%	$2.9M+7.5%	$2.7M
R&D Expenses	$180-35.9%	$281+100.7%	$140-98.6%	$10K+4955.1%	$196-71.3%	$683	$0-100.0%	$5K
SG&A Expenses	$1.9M-7.6%	$2.1M-4.1%	$2.2M-28.4%	$3.1M+26.8%	$2.4M-29.8%	$3.4M+12.0%	$3.1M+9.3%	$2.8M
Operating Income	-$393K-21.7%	-$323K-136.6%	-$137K+57.7%	-$323K-304.5%	$158K+131.4%	-$503K-214.2%	-$160K-56.1%	-$103K
Interest Expense	$115K-61.1%	$296K+85.5%	$159K-60.9%	$408K-37.1%	$649K+6.6%	$609K-20.6%	$767K+2.7%	$747K
Income Tax	$443K-5.6%	$469K-10.7%	$525K+273.0%	$141K-72.7%	$516K-0.1%	$517K-0.5%	$519K	$0
Net Income	-$279K-218.1%	-$88K+89.3%	-$821K-137.6%	-$345K+61.6%	-$900K+89.1%	-$8.2M-615.4%	-$1.1M-35.2%	-$849K
EPS (Diluted)	$0.00	$0.00+100.0%	$-0.010.0%	$-0.010.0%	$-0.01+91.7%	$-0.12-200.0%	$-0.04-300.0%	$-0.01

CLSH Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$7.9M-21.3%	$10.1M-36.4%	$15.8M+36.5%	$11.6M-24.0%	$15.3M-67.2%	$46.5M
Current Assets	$3.3M-28.1%	$4.6M-33.3%	$6.9M+79.2%	$3.8M-51.6%	$7.9M-37.4%	$12.7M
Cash & Equivalents	$600K-39.9%	$998K-60.9%	$2.6M+53.2%	$1.7M-43.1%	$2.9M-72.2%	$10.5M
Inventory	$2.0M-34.7%	$3.0M-11.8%	$3.4M+178.3%	$1.2M+113.5%	$575K-23.0%	$747K
Accounts Receivable	$683K+58.4%	$431K-30.3%	$618K-9.7%	$685K+324.3%	$161K-1.3%	$164K
Goodwill	$558K0.0%	$558K0.0%	$558K0.0%	$558K0.0%	$558K-97.8%	$25.7M
Total Liabilities	$20.8M-12.7%	$23.9M-27.6%	$33.0M+23.5%	$26.7M+29.2%	$20.7M-3.7%	$21.5M
Current Liabilities	$14.2M-12.9%	$16.3M-41.9%	$28.1M+464.0%	$5.0M+164.8%	$1.9M-72.8%	$6.9M
Long-Term Debt	$6.8M-43.2%	$12.0M-49.7%	$23.8M+18.6%	$20.1M+1.1%	$19.9M-11.1%	$22.4M
Total Equity	-$11.8M+7.0%	-$12.7M+25.8%	-$17.1M-12.9%	-$15.1M-179.8%	-$5.4M-121.5%	$25.0M
Retained Earnings	-$113.4M-4.1%	-$108.9M-14.5%	-$95.1M-2.5%	-$92.7M-20.7%	-$76.8M-66.4%	-$46.2M

Metric	Q3'25	Q2'25	Q1'25	Q2'23	Q3'24	Q2'24	Q1'24	Q2'22
Total Assets	$7.0M-11.6%	$7.9M-27.8%	$10.9M+8.4%	$10.1M-30.0%	$14.4M-7.4%	$15.5M+1.6%	$15.3M-3.4%	$15.8M
Current Assets	$2.9M-19.4%	$3.6M-44.0%	$6.4M+39.7%	$4.6M-25.2%	$6.1M-12.0%	$7.0M+16.9%	$6.0M-13.3%	$6.9M
Cash & Equivalents	$221K-62.8%	$593K+13.7%	$521K-47.8%	$998K+12.5%	$888K+9.8%	$809K+36.6%	$592K-76.8%	$2.6M
Inventory	$1.4M-23.6%	$1.8M-11.4%	$2.0M-32.4%	$3.0M-30.7%	$4.3M-10.8%	$4.9M+15.6%	$4.2M+23.4%	$3.4M
Accounts Receivable	$1.2M+7.0%	$1.2M-5.1%	$1.2M+181.6%	$431K-40.0%	$718K-28.5%	$1.0M+36.0%	$739K+19.6%	$618K
Goodwill	$558K0.0%	$558K0.0%	$558K0.0%	$558K0.0%	$558K0.0%	$558K0.0%	$558K0.0%	$558K
Total Liabilities	$19.5M-3.3%	$20.2M-10.0%	$22.4M-6.1%	$23.9M-0.1%	$23.9M-0.5%	$24.0M-28.9%	$33.8M+2.4%	$33.0M
Current Liabilities	$17.5M+4.6%	$16.7M+3.1%	$16.2M-0.9%	$16.3M+0.5%	$16.3M+42.0%	$11.5M-60.2%	$28.8M+2.4%	$28.1M
Long-Term Debt	$3.2M-21.2%	$4.0M-42.3%	$6.9M-42.0%	$12.0M-1.2%	$12.1M-1.2%	$12.3M-48.5%	$23.8M0.0%	$23.8M
Total Equity	-$11.4M-2.3%	-$11.1M-7.6%	-$10.4M+18.1%	-$12.7M-38.7%	-$9.1M-10.9%	-$8.2M+54.8%	-$18.2M-6.7%	-$17.1M
Retained Earnings	-$114.6M-0.2%	-$114.3M-0.1%	-$114.2M-4.9%	-$108.9M-3.4%	-$105.3M-0.9%	-$104.4M-8.5%	-$96.2M-1.2%	-$95.1M

CLSH Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$809K+451.8%	-$230K+92.7%	-$3.2M-24.6%	-$2.5M+19.8%	-$3.2M+68.9%	-$10.2M
Capital Expenditures	$148K-2.7%	$152K-86.2%	$1.1M+310.0%	$269K-86.0%	$1.9M+85.4%	$1.0M
Free Cash Flow	$661K+272.9%	-$382K+91.0%	-$4.3M-52.0%	-$2.8M+44.9%	-$5.1M+54.6%	-$11.2M
Investing Cash Flow	-$148K-36.8%	-$108K-110.9%	$992K-22.2%	$1.3M+391.0%	-$438K+96.4%	-$12.2M
Financing Cash Flow	-$1.1M+12.9%	-$1.2M-139.8%	$3.1M	$0+100.0%	-$4.0M-112.2%	$32.8M
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	Q3'25	Q2'25	Q1'25	Q2'23	Q3'24	Q2'24	Q1'24	Q2'22
Operating Cash Flow	-$147K-168.2%	$216K-14.3%	$252K-68.0%	$789K-1.7%	$803K+323.3%	-$360K+75.4%	-$1.5M-143.5%	-$600K
Capital Expenditures	$3K-82.8%	$16K	$0-100.0%	$11K+261.7%	$3K-94.1%	$50K-43.1%	$88K-90.6%	$939K
Free Cash Flow	-$150K-175.0%	$200K-20.7%	$252K-67.6%	$778K-2.7%	$800K+295.2%	-$410K+73.6%	-$1.5M-0.7%	-$1.5M
Investing Cash Flow	-$3K+82.8%	-$16K	$0+100.0%	-$18K+68.9%	-$57K-111.2%	$512K+193.9%	-$545K+44.2%	-$978K
Financing Cash Flow	-$222K+91.9%	-$2.7M-220.3%	$2.3M+443.6%	-$660K+0.9%	-$666K-1140.0%	$64K+35.6%	$47K-93.0%	$676K
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

CLSH Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	42.7%-3.0pp	45.7%-0.6pp	46.3%-3.7pp	50.0%0.0pp	50.0%+7.2pp	42.8%
Operating Margin	-10.0%+6.3pp	-16.3%-12.4pp	-3.9%+15.1pp	-18.9%+216.1pp	-235.0%+35.1pp	-270.1%
Net Margin	-22.5%+37.2pp	-59.7%-49.3pp	-10.3%+72.0pp	-82.4%+174.9pp	-257.3%+69.3pp	-326.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-56.6%+80.4pp	-137.0%-122.2pp	-14.8%+122.2pp	-137.0%+63.8pp	-200.8%-141.4pp	-59.4%
Current Ratio	0.23-0.0	0.28+0.0	0.24-0.5	0.77-3.4	4.22+2.4	1.83
Debt-to-Equity	-0.58+0.4	-0.95+0.5	-1.40-0.1	-1.33+2.4	-3.69-4.6	0.89
FCF Margin	3.3%+5.0pp	-1.7%+17.2pp	-18.8%-4.3pp	-14.5%+28.1pp	-42.7%+89.7pp	-132.4%

Metric	Q3'25	Q2'25	Q1'25	Q2'23	Q3'24	Q2'24	Q1'24	Q2'22
Gross Margin	40.0%-2.5pp	42.6%-0.1pp	42.6%-7.8pp	50.4%+3.2pp	47.2%-1.0pp	48.2%+0.2pp	48.0%-7.0pp	55.0%
Operating Margin	-10.2%-2.4pp	-7.8%-4.9pp	-2.8%+3.1pp	-6.0%-8.9pp	2.9%+11.2pp	-8.3%-5.6pp	-2.6%-0.6pp	-2.1%
Net Margin	-7.2%-5.1pp	-2.1%+15.0pp	-17.1%-10.7pp	-6.4%+10.2pp	-16.5%+118.7pp	-135.3%-116.3pp	-19.0%-1.7pp	-17.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-4.0%-2.9pp	-1.1%+6.4pp	-7.5%-4.8pp	-2.8%+3.5pp	-6.3%+46.7pp	-52.9%-45.4pp	-7.5%-1.6pp	-5.9%
Current Ratio	0.17-0.0	0.21-0.2	0.40+0.1	0.28-0.1	0.38-0.2	0.61+0.4	0.21-0.0	0.24
Debt-to-Equity	-0.28+0.1	-0.36+0.3	-0.67+0.3	-0.95+0.4	-1.33+0.2	-1.49-0.2	-1.31+0.1	-1.40
FCF Margin	-3.9%-8.7pp	4.8%-0.4pp	5.3%+19.9pp	-14.7%-29.4pp	14.7%+21.5pp	-6.8%+18.9pp	-25.6%-11.0pp	-14.6%

Note: Shareholder equity is negative (-$11.8M), 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 (0.23), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Cls Holdings Usa's annual revenue?

Cls Holdings Usa (CLSH) reported $20.0M in total revenue for fiscal year 2024. This represents a -13.7% 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 Cls Holdings Usa's revenue growing?

Cls Holdings Usa (CLSH) revenue declined by 13.7% year-over-year, from $23.1M to $20.0M in fiscal year 2024.

Is Cls Holdings Usa profitable?

No, Cls Holdings Usa (CLSH) reported a net income of -$4.5M in fiscal year 2024, with a net profit margin of -22.5%.

What is Cls Holdings Usa's earnings per share (EPS)?

Cls Holdings Usa (CLSH) reported diluted earnings per share of $-0.05 for fiscal year 2024. This represents a 78.3% 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.

What is Cls Holdings Usa's EBITDA?

Cls Holdings Usa (CLSH) had EBITDA of -$1.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Cls Holdings Usa have?

As of fiscal year 2024, Cls Holdings Usa (CLSH) had $600K in cash and equivalents against $6.8M in long-term debt.

What is Cls Holdings Usa's gross margin?

Cls Holdings Usa (CLSH) had a gross margin of 42.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Cls Holdings Usa's operating margin?

Cls Holdings Usa (CLSH) had an operating margin of -10.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Cls Holdings Usa's net profit margin?

Cls Holdings Usa (CLSH) had a net profit margin of -22.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Cls Holdings Usa's free cash flow?

Cls Holdings Usa (CLSH) generated $661K in free cash flow during fiscal year 2024. This represents a 272.9% 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 Cls Holdings Usa's operating cash flow?

Cls Holdings Usa (CLSH) generated $809K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Cls Holdings Usa's total assets?

Cls Holdings Usa (CLSH) had $7.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Cls Holdings Usa's capital expenditures?

Cls Holdings Usa (CLSH) invested $148K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Cls Holdings Usa spend on research and development?

Cls Holdings Usa (CLSH) invested $4K in research and development during fiscal year 2024.

How many shares does Cls Holdings Usa have outstanding?

Cls Holdings Usa (CLSH) had 125M shares outstanding as of fiscal year 2024.

What is Cls Holdings Usa's current ratio?

Cls Holdings Usa (CLSH) had a current ratio of 0.23 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Cls Holdings Usa's debt-to-equity ratio?

Cls Holdings Usa (CLSH) had a debt-to-equity ratio of -0.58 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cls Holdings Usa's return on assets (ROA)?

Cls Holdings Usa (CLSH) had a return on assets of -56.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Cls Holdings Usa's debt-to-equity ratio negative or unusual?

Cls Holdings Usa (CLSH) has negative shareholder equity of -$11.8M as of fiscal year 2024, 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 Cls Holdings Usa's Piotroski F-Score?

Cls Holdings Usa (CLSH) has a Piotroski F-Score of 5 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cls Holdings Usa's earnings high quality?

Cls Holdings Usa (CLSH) has an earnings quality ratio of -0.18x, considered mixed quality. 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 Cls Holdings Usa cover its interest payments?

Cls Holdings Usa (CLSH) has an interest coverage ratio of -1.1x, 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 Cls Holdings Usa?

Cls Holdings Usa (CLSH) scores 4 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.