Darkpulse Financials
This page shows Darkpulse (DPLS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 29 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).
DarkPulse's operating footprint has shrunk dramatically, while cash burn has fallen faster than the business has been rebuilt.
By FY2025, the net loss stopped being a good proxy for cash burn: net income was-$3.0M while operating cash flow was only-$66K . That gap, alongside capex falling to$0 , says the business has been cut back so sharply that reported losses now reflect accounting charges more than current cash use.
The balance sheet shows extreme short-term tightness, not just low profitability: current liabilities of
The apparent improvement in gross margin to
Financial Health Signals
We are recalculating Darkpulse'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.
Darkpulse scores -64.78, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.4M) relative to total liabilities ($20.3M). 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.
Darkpulse passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 3 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Darkpulse generates $0.02 in operating cash flow (-$66K OCF vs -$3.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Darkpulse earns $-18.0 in operating income for every $1 of interest expense (-$2.4M vs $136K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Darkpulse generated $308K in revenue in fiscal year 2025. This represents a decrease of 84.7% from the prior year.
Darkpulse's EBITDA was -$2.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 88.5% from the prior year.
Darkpulse reported -$3.0M in net income in fiscal year 2025.
Cash & Balance Sheet
Darkpulse generated -$66K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 98.8% from the prior year.
Darkpulse held $63K in cash against $674K in long-term debt as of fiscal year 2025.
Darkpulse had 86M shares outstanding in fiscal year 2025. This represents a decrease of 98.9% from the prior year.
Margins & Returns
Darkpulse's gross margin was 67.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 89.0 percentage points from the prior year.
Darkpulse's operating margin was -790.4% in fiscal year 2025, reflecting core business profitability.
Darkpulse's net profit margin was -961.7% in fiscal year 2025, showing the share of revenue converted to profit.
Capital Allocation
Darkpulse invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
DPLS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $19K-78.0% | $84K+161.9% | $32K-36.7% | $51K-63.9% | $141K+98.6% | $71K+131.5% | $31K+114.2% | $14K |
| Cost of Revenue | $11K | N/A | N/A | $9K-91.1% | $104K+7343.9% | $1K | $0-100.0% | $671 |
| Gross Profit | $8K | N/A | N/A | $42K+12.2% | $37K-46.7% | $70K+126.9% | $31K+124.7% | $14K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $127K-53.8% | $275K+61.8% | $170K-41.3% | $290K+100.1% | $145K+6101.9% | -$2K-101.6% | $147K-13.9% | $170K |
| Operating Income | -$394K+61.1% | -$1.0M-129.3% | -$441K+21.8% | -$564K-33.6% | -$422K-34.6% | -$314K+43.9% | -$559K-19.1% | -$469K |
| Interest Expense | -$21K-124.0% | $89K+482.3% | $15K-34.7% | $23K+192.8% | $8K-97.1% | $272K+544.4% | -$61K-114.7% | $416K |
| Income Tax | N/A | $0 | $0 | $0 | $0 | N/A | $0 | $0 |
| Net Income | -$245K+83.4% | -$1.5M-215.4% | -$467K+38.4% | -$759K-184.4% | -$267K+23.5% | -$349K+41.0% | -$591K+75.5% | -$2.4M |
| EPS (Diluted) | $0.00 | N/A | $-0.01 | $0.00 | $0.00 | N/A | $-0.01 | $0.00 |
DPLS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3M-2.7% | $1.4M-32.7% | $2.0M-6.4% | $2.2M-9.1% | $2.4M-14.4% | $2.8M-7.0% | $3.0M+18.0% | $2.5M |
| Current Assets | $524K-3.6% | $544K-48.1% | $1.0M-9.2% | $1.2M-8.7% | $1.3M+14.5% | $1.1M-5.2% | $1.2M+19.6% | $974K |
| Cash & Equivalents | $53K-15.0% | $63K+41.1% | $44K-56.4% | $102K-5.2% | $108K+24.6% | $87K-47.6% | $165K+17233.3% | $953 |
| Inventory | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Accounts Receivable | $412K-1.8% | $419K-52.0% | $873K-8.3% | $952K-9.4% | $1.1M+14.9% | $915K-1.3% | $927K+3.3% | $897K |
| Goodwill | N/A | $0-100.0% | $24K0.0% | $24K0.0% | $24K0.0% | $24K-84.7% | $157K | $0 |
| Total Liabilities | $20.7M-1.0% | $20.9M+3.1% | $20.3M-0.7% | $20.4M+4.1% | $19.6M-0.9% | $19.8M-15.0% | $23.3M+7.3% | $21.7M |
| Current Liabilities | $20.2M-0.2% | $20.3M+3.6% | $19.6M-0.4% | $19.6M+5.4% | $18.6M+2.0% | $18.3M-15.8% | $21.7M+8.4% | $20.0M |
| Long-Term Debt | $545K-11.3% | $615K-8.7% | $674K-11.1% | $758K-1.3% | $768K-26.3% | $1.0M-6.2% | $1.1M+1.0% | $1.1M |
| Total Equity | -$19.3M+0.9% | -$19.5M-7.1% | -$18.2M+0.1% | -$18.2M-5.9% | -$17.2M-1.3% | -$17.0M+16.2% | -$20.3M-5.9% | -$19.2M |
| Retained Earnings | -$74.5M-0.3% | -$74.2M-2.0% | -$72.8M-0.6% | -$72.3M-1.1% | -$71.5M-0.4% | -$71.3M-0.5% | -$70.9M-0.8% | -$70.3M |
DPLS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$341K-101.1% | -$169K+56.8% | -$392K-194.2% | $416K+427.8% | $79K+105.1% | -$1.5M-549.5% | $344K+254.7% | -$222K |
| Capital Expenditures | N/A | $0 | N/A | N/A | N/A | -$27K-145.1% | $60K | $0 |
| Free Cash Flow | N/A | -$169K | N/A | N/A | N/A | -$1.6M-655.1% | $283K+227.5% | -$222K |
| Investing Cash Flow | $0 | $0+100.0% | -$106K-222.8% | $86K+339.1% | $20K-27.8% | $27K+145.1% | -$60K | $0 |
| Financing Cash Flow | $112K-54.6% | $246K+4.0% | $237K+63.7% | $145K-54.5% | $318K-30.2% | $457K-63.8% | $1.3M+467.8% | $222K |
| 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 |
DPLS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.8% | N/A | N/A | 81.8%+55.5pp | 26.3%-71.7pp | 98.0%-2.0pp | 100.0%+4.7pp | 95.3% |
| Operating Margin | -2125.1%-926.3pp | -1198.8%+170.5pp | -1369.4%-261.8pp | -1107.6%-808.3pp | -299.3%+142.5pp | -441.7%+1380.1pp | -1821.8%+1456.1pp | -3277.9% |
| Net Margin | -1321.8%+425.4pp | -1747.2%-296.3pp | -1450.9%+39.6pp | -1490.5%-1301.4pp | -189.2%+302.3pp | -491.4%+1435.1pp | -1926.6%+14907.2pp | -16833.8% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -18.4%+89.3pp | -107.7%-84.8pp | -23.0%+12.0pp | -34.9%-23.8pp | -11.2%+1.3pp | -12.5%+7.2pp | -19.7%+75.1pp | -94.8% |
| Current Ratio | 0.030.0 | 0.03-0.0 | 0.050.0 | 0.060.0 | 0.070.0 | 0.060.0 | 0.050.0 | 0.05 |
| Debt-to-Equity | -0.030.0 | -0.030.0 | -0.040.0 | -0.040.0 | -0.04+0.0 | -0.060.0 | -0.050.0 | -0.06 |
| FCF Margin | N/A | -200.8% | N/A | N/A | N/A | -2213.3%-3136.3pp | 922.9%+2473.7pp | -1550.8% |
Note: Shareholder equity is negative (-$18.2M), 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 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Darkpulse's annual revenue?
Darkpulse (DPLS) reported $308K in total revenue for fiscal year 2025. This represents a -84.7% 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 Darkpulse's revenue growing?
Darkpulse (DPLS) revenue declined by 84.7% year-over-year, from $2.0M to $308K in fiscal year 2025.
Is Darkpulse profitable?
No, Darkpulse (DPLS) reported a net income of -$3.0M in fiscal year 2025, with a net profit margin of -961.7%.
What is Darkpulse's EBITDA?
Darkpulse (DPLS) had EBITDA of -$2.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Darkpulse have?
As of fiscal year 2025, Darkpulse (DPLS) had $63K in cash and equivalents against $674K in long-term debt.
What is Darkpulse's gross margin?
Darkpulse (DPLS) had a gross margin of 67.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Darkpulse's operating margin?
Darkpulse (DPLS) had an operating margin of -790.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Darkpulse's net profit margin?
Darkpulse (DPLS) had a net profit margin of -961.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Darkpulse's free cash flow?
Darkpulse (DPLS) generated -$66K in free cash flow during fiscal year 2025. This represents a 98.8% 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 Darkpulse's operating cash flow?
Darkpulse (DPLS) generated -$66K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Darkpulse's total assets?
Darkpulse (DPLS) had $2.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Darkpulse's capital expenditures?
Darkpulse (DPLS) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Darkpulse's current ratio?
Darkpulse (DPLS) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Darkpulse's debt-to-equity ratio?
Darkpulse (DPLS) had a debt-to-equity ratio of -0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Darkpulse's return on assets (ROA)?
Darkpulse (DPLS) had a return on assets of -145.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Darkpulse's cash runway?
Based on fiscal year 2025 data, Darkpulse (DPLS) had $63K in cash against an annual operating cash burn of $66K. This gives an estimated cash runway of approximately 11 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 Darkpulse's debt-to-equity ratio negative or unusual?
Darkpulse (DPLS) has negative shareholder equity of -$18.2M as of fiscal year 2025, 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 Darkpulse's Altman Z-Score?
Darkpulse (DPLS) has an Altman Z-Score of -64.78, 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 Darkpulse's Piotroski F-Score?
Darkpulse (DPLS) has a Piotroski F-Score of 4 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 Darkpulse's earnings high quality?
Darkpulse (DPLS) has an earnings quality ratio of 0.02x, 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 Darkpulse cover its interest payments?
Darkpulse (DPLS) has an interest coverage ratio of -18.0x, 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.