CapsoVision, Inc. Financials
This page shows CapsoVision, Inc. (CV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
CapsoVision’s dominant mechanic is R&D-heavy cash consumption funded by external financing, not by the current revenue base.
Revenue rose modestly from$11.8M to$13.6M , but operating cash burn worsened from-$20.1M to-$22.9M while capex stayed tiny at under$153K in both years. That mix indicates the cash need is coming mainly from ongoing R&D and overhead, not from building a heavy asset base, and FY2025 financing inflow of$23.6M effectively replaced the cash the business consumed.
Gross margin held near
The balance sheet was recapitalized: total liabilities fell from
Financial Health Signals
Based on FY2025 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 CapsoVision, 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.
CapsoVision, Inc. has an operating margin of -188.3%, meaning the company retains $-188 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 down from -169.4% the prior year.
CapsoVision, Inc.'s revenue surged 15.3% year-over-year to $13.6M, reflecting rapid business expansion. This strong growth earns a score of 59/100.
CapsoVision, Inc. carries a low D/E ratio of 0.37, meaning only $0.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.77, CapsoVision, Inc. holds $3.77 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 74/100.
While CapsoVision, Inc. generated -$22.9M in operating cash flow, capex of $90K consumed most of it, leaving -$23.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
CapsoVision, Inc. generates a -190.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
CapsoVision, Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, CapsoVision, Inc. generates $0.90 in operating cash flow (-$22.9M OCF vs -$25.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
CapsoVision, Inc. generated $13.6M in revenue in fiscal year 2025. This represents an increase of 15.3% from the prior year.
CapsoVision, Inc.'s EBITDA was -$25.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.4% from the prior year.
CapsoVision, Inc. reported -$25.3M in net income in fiscal year 2025. This represents a decrease of 27.2% from the prior year.
CapsoVision, Inc. earned $-1.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 89.5% from the prior year.
Cash & Balance Sheet
CapsoVision, Inc. generated -$23.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 13.4% from the prior year.
CapsoVision, Inc. had 47M shares outstanding in fiscal year 2025. This represents an increase of 2141.3% from the prior year.
Margins & Returns
CapsoVision, Inc.'s gross margin was 52.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.3 percentage points from the prior year.
CapsoVision, Inc.'s operating margin was -188.3% in fiscal year 2025, reflecting core business profitability. This is down 18.8 percentage points from the prior year.
CapsoVision, Inc.'s net profit margin was -186.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.5 percentage points from the prior year.
CapsoVision, Inc.'s ROE was -190.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
CapsoVision, Inc. invested $18.3M in research and development in fiscal year 2025. This represents an increase of 21.1% from the prior year.
CapsoVision, Inc. invested $90K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 41.2% from the prior year.
CV Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $3.5M+6.7% | $3.3M | N/A | N/A | $3.0M+4.3% | $2.8M | N/A |
| Cost of Revenue | N/A | $1.6M+8.0% | $1.5M | N/A | N/A | $1.3M+4.6% | $1.3M | N/A |
| Gross Profit | N/A | $1.9M+5.7% | $1.8M | N/A | N/A | $1.7M+4.1% | $1.6M | N/A |
| R&D Expenses | N/A | $6.1M+79.5% | $3.4M | N/A | N/A | $4.5M+7.1% | $4.2M | N/A |
| SG&A Expenses | N/A | $2.1M+69.3% | $1.2M | N/A | N/A | $1.2M+39.2% | $857K | N/A |
| Operating Income | N/A | -$8.0M-72.4% | -$4.7M | N/A | N/A | -$5.8M-10.1% | -$5.3M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | $0 | $0 | N/A | N/A | $0 | $0 | N/A |
| Net Income | N/A | -$7.9M-71.3% | -$4.6M+14.0% | -$5.4M | N/A | -$5.8M-10.0% | -$5.3M-25.4% | -$4.2M |
| EPS (Diluted) | N/A | $-0.17+91.6% | $-2.02 | N/A | N/A | $-2.79-8.1% | $-2.58 | N/A |
CV Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.2M-29.2% | $25.7M+168.8% | $9.5M | N/A | $16.8M | N/A | N/A | N/A |
| Current Assets | $16.7M-30.7% | $24.0M+208.3% | $7.8M | N/A | $14.8M | N/A | N/A | N/A |
| Cash & Equivalents | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventory | $3.0M-6.3% | $3.2M+4.8% | $3.0M | N/A | $2.6M | N/A | N/A | N/A |
| Accounts Receivable | $2.5M+33.6% | $1.9M+0.9% | $1.9M | N/A | $2.0M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.9M-6.0% | $5.2M-96.5% | $148.5M | N/A | $146.3M | N/A | N/A | N/A |
| Current Liabilities | $4.4M-4.5% | $4.6M+9.8% | $4.2M | N/A | $1.8M | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $13.3M-35.1% | $20.4M+114.7% | -$139.0M-3.2% | -$134.7M-4.0% | -$129.5M-3.6% | -$125.0M-4.8% | -$119.2M-4.6% | -$114.0M |
| Retained Earnings | -$155.7M-5.0% | -$148.3M-5.6% | -$140.3M | N/A | -$130.3M | N/A | N/A | N/A |
CV Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.7M-35.7% | -$5.7M | N/A | N/A | -$5.4M+23.5% | -$7.1M | N/A | N/A |
| Capital Expenditures | $8K-33.3% | $12K | N/A | N/A | $0-100.0% | $4K | N/A | N/A |
| Free Cash Flow | -$7.7M-35.5% | -$5.7M | N/A | N/A | -$5.4M+23.5% | -$7.1M | N/A | N/A |
| Investing Cash Flow | -$8K+33.3% | -$12K | N/A | N/A | $0+100.0% | -$4K | N/A | N/A |
| Financing Cash Flow | $15K-99.9% | $22.4M | N/A | N/A | $5.0M-50.0% | $10.0M | N/A | N/A |
| 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 |
CV Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 54.1%-0.5pp | 54.6% | N/A | N/A | 55.9%-0.1pp | 56.0% | N/A |
| Operating Margin | N/A | -226.7%-86.4pp | -140.3% | N/A | N/A | -195.6%-10.2pp | -185.4% | N/A |
| Net Margin | N/A | -223.9%-84.4pp | -139.5% | N/A | N/A | -195.3%-10.1pp | -185.2% | N/A |
| Return on Equity | N/A | -38.8% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -30.9%+17.6pp | -48.4% | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 3.77-1.4 | 5.19+3.3 | 1.85 | N/A | 8.24 | N/A | N/A | N/A |
| Debt-to-Equity | 0.37+0.1 | 0.26+1.3 | -1.07 | N/A | -1.13 | N/A | N/A | N/A |
| FCF Margin | N/A | -160.5% | N/A | N/A | N/A | -238.0% | N/A | N/A |
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Frequently Asked Questions
What is CapsoVision, Inc.'s annual revenue?
CapsoVision, Inc. (CV) reported $13.6M in total revenue for fiscal year 2025. This represents a 15.3% 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 CapsoVision, Inc.'s revenue growing?
CapsoVision, Inc. (CV) revenue grew by 15.3% year-over-year, from $11.8M to $13.6M in fiscal year 2025.
Is CapsoVision, Inc. profitable?
No, CapsoVision, Inc. (CV) reported a net income of -$25.3M in fiscal year 2025, with a net profit margin of -186.8%.
What is CapsoVision, Inc.'s EBITDA?
CapsoVision, Inc. (CV) had EBITDA of -$25.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is CapsoVision, Inc.'s gross margin?
CapsoVision, Inc. (CV) had a gross margin of 52.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is CapsoVision, Inc.'s operating margin?
CapsoVision, Inc. (CV) had an operating margin of -188.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CapsoVision, Inc.'s net profit margin?
CapsoVision, Inc. (CV) had a net profit margin of -186.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is CapsoVision, Inc.'s return on equity (ROE)?
CapsoVision, Inc. (CV) has a return on equity of -190.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CapsoVision, Inc.'s free cash flow?
CapsoVision, Inc. (CV) generated -$23.0M in free cash flow during fiscal year 2025. This represents a -13.4% 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 CapsoVision, Inc.'s operating cash flow?
CapsoVision, Inc. (CV) generated -$22.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CapsoVision, Inc.'s total assets?
CapsoVision, Inc. (CV) had $18.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are CapsoVision, Inc.'s capital expenditures?
CapsoVision, Inc. (CV) invested $90K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does CapsoVision, Inc. spend on research and development?
CapsoVision, Inc. (CV) invested $18.3M in research and development during fiscal year 2025.
What is CapsoVision, Inc.'s current ratio?
CapsoVision, Inc. (CV) had a current ratio of 3.77 as of fiscal year 2025, which is generally considered healthy.
What is CapsoVision, Inc.'s debt-to-equity ratio?
CapsoVision, Inc. (CV) had a debt-to-equity ratio of 0.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CapsoVision, Inc.'s return on assets (ROA)?
CapsoVision, Inc. (CV) had a return on assets of -139.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CapsoVision, Inc.'s Piotroski F-Score?
CapsoVision, Inc. (CV) has a Piotroski F-Score of 2 out of 9, indicating weak 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.
Are CapsoVision, Inc.'s earnings high quality?
CapsoVision, Inc. (CV) has an earnings quality ratio of 0.90x, 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.
How financially healthy is CapsoVision, Inc.?
CapsoVision, Inc. (CV) scores 38 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.