Ebet Financials
This page shows Ebet (EBET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Gross profit is not the binding constraint; overhead and balance-sheet strain are consuming a shrinking revenue base.
Between FY2022 and FY2023, gross margin widened from38.5% to43.9% even as sales fell, so the business did not unravel at the gross-profit line. What broke instead was the cost-and-financing structure: operating loss reached-$65.7M and interest expense rose to$17.1M , which turned lower scale into a much larger bottom-line hit.
FY2023 ended with a working-capital deficit: current assets of
Cash burn was far smaller than the accounting loss: operating cash flow was
Financial Health Signals
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 Ebet'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.
Ebet has an operating margin of -167.7%, meaning the company retains $-168 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 -55.7% the prior year.
Ebet's revenue declined 33.1% year-over-year, from $58.6M to $39.2M. This contraction results in a growth score of 100/100.
Ebet carries a low D/E ratio of -0.01, meaning only $-0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
Ebet's current ratio of 0.04 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Ebet passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Ebet generates $0.12 in operating cash flow (-$10.0M OCF vs -$84.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Ebet earns $-3.8 in operating income for every $1 of interest expense (-$65.7M vs $17.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Ebet generated $39.2M in revenue in fiscal year 2023. This represents a decrease of 33.1% from the prior year.
Ebet's EBITDA was -$58.7M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 123.6% from the prior year.
Ebet reported -$84.2M in net income in fiscal year 2023. This represents a decrease of 103.4% from the prior year.
Ebet earned $-32.23 per diluted share (EPS) in fiscal year 2023. This represents an increase of 65.5% from the prior year.
Cash & Balance Sheet
Ebet held $305K in cash against $560K in long-term debt as of fiscal year 2023.
Ebet had 15M shares outstanding in fiscal year 2023. This represents an increase of 2598.3% from the prior year.
Margins & Returns
Ebet's gross margin was 43.9% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is up 5.4 percentage points from the prior year.
Ebet's operating margin was -167.7% in fiscal year 2023, reflecting core business profitability. This is down 112.0 percentage points from the prior year.
Ebet's net profit margin was -215.0% in fiscal year 2023, showing the share of revenue converted to profit. This is down 144.3 percentage points from the prior year.
Capital Allocation
EBET Income Statement
| Metric | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5M-17.8% | $4.3M-17.8% | $5.2M-34.6% | $8.0M-31.1% | $11.6M-19.6% | $14.4M+0.9% | $14.3M-21.4% | $18.2M |
| Cost of Revenue | $1.9M-16.6% | $2.2M-15.7% | $2.7M-36.7% | $4.2M-36.2% | $6.6M-22.6% | $8.5M+0.5% | $8.5M-22.4% | $10.9M |
| Gross Profit | $1.7M-19.1% | $2.0M-20.0% | $2.6M-32.3% | $3.8M-24.4% | $5.0M-15.3% | $5.9M+1.4% | $5.8M-19.9% | $7.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $2.1M-20.1% | $2.7M-83.1% | $15.7M+338.8% | $3.6M+5.5% | $3.4M+0.4% | $3.4M-34.8% | $5.2M+34.2% | $3.9M |
| Operating Income | -$1.9M+24.1% | -$2.5M+90.9% | -$27.9M+19.8% | -$34.7M-3500.8% | -$964K+55.2% | -$2.2M+75.3% | -$8.7M-25.0% | -$7.0M |
| Interest Expense | $1.7M+7.5% | $1.6M+1.1% | $1.6M-84.0% | $9.8M+265.5% | $2.7M-11.3% | $3.0M-30.5% | $4.4M+143.7% | $1.8M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$5.0M-32.1% | -$3.8M+86.8% | -$28.9M+33.8% | -$43.7M-990.1% | -$4.0M+46.9% | -$7.6M+35.6% | -$11.7M-30.6% | -$9.0M |
| EPS (Diluted) | $-0.34-36.0% | $-0.25 | N/A | $-1.73 | $-7.60+52.4% | $-15.95 | N/A | $-0.70 |
EBET Balance Sheet
| Metric | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.5M-6.0% | $15.5M+2.5% | $15.1M-51.8% | $31.4M-54.2% | $68.5M-4.8% | $72.0M+4.4% | $68.9M-12.9% | $79.1M |
| Current Assets | $2.2M-11.9% | $2.5M+8.3% | $2.3M-41.8% | $3.9M-39.4% | $6.5M-31.1% | $9.4M-7.5% | $10.2M-7.1% | $10.9M |
| Cash & Equivalents | $633K+17.4% | $539K+77.0% | $305K-78.8% | $1.4M-58.6% | $3.5M-40.5% | $5.8M+6.2% | $5.5M-20.4% | $6.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $552K-29.8% | $787K+22.3% | $643K-35.3% | $994K-44.8% | $1.8M-11.4% | $2.0M+23.3% | $1.6M+1.8% | $1.6M |
| Goodwill | $9.1M-2.2% | $9.3M+4.3% | $9.0M-46.7% | $16.8M-50.9% | $34.2M+2.0% | $33.5M+9.4% | $30.7M-6.2% | $32.7M |
| Total Liabilities | $70.7M+4.1% | $68.0M+7.0% | $63.5M+26.3% | $50.3M+17.6% | $42.8M-15.5% | $50.6M+7.3% | $47.1M-1.8% | $48.0M |
| Current Liabilities | $70.1M+4.1% | $67.4M+7.0% | $63.0M+26.6% | $49.7M+66.4% | $29.9M-21.8% | $38.2M+3.7% | $36.9M+134.0% | $15.8M |
| Long-Term Debt | $586K+2.4% | $573K+2.4% | $560K+2.4% | $547K-95.7% | $12.9M+4.2% | $12.3M+20.3% | $10.3M-68.2% | $32.2M |
| Total Equity | -$56.2M-7.0% | -$52.5M-8.4% | -$48.4M-155.7% | -$18.9M-173.6% | $25.7M+20.4% | $21.4M-1.8% | $21.8M-30.0% | $31.1M |
| Retained Earnings | -$160.0M-3.3% | -$155.0M-2.5% | -$151.2M-23.7% | -$122.2M-57.7% | -$77.5M-7.7% | -$71.9M-14.5% | -$62.8M-26.6% | -$49.6M |
EBET Cash Flow Statement
| Metric | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.4M-400.0% | -$684K+72.1% | -$2.5M-697.0% | -$308K+94.3% | -$5.4M-198.0% | -$1.8M+25.5% | -$2.4M-83.4% | -$1.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $0 | $0-100.0% | $24K+17935.3% | -$133+95.6% | -$3K+63.4% | -$8K+87.5% | -$65K+72.6% | -$239K |
| Financing Cash Flow | $2.1M+10.5% | $1.9M+15.2% | $1.6M+182.5% | -$2.0M-168.4% | $2.9M+200.0% | $974K+299.0% | -$490K-134.8% | $1.4M |
| 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 |
EBET Financial Ratios
| Metric | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.9%-0.8pp | 47.7%-1.3pp | 49.0%+1.7pp | 47.3%+4.2pp | 43.1%+2.2pp | 40.9%+0.2pp | 40.7%+0.8pp | 39.9% |
| Operating Margin | -54.6%+4.5pp | -59.2%+475.1pp | -534.3%-98.8pp | -435.5%-427.2pp | -8.3%+6.6pp | -15.0%+46.2pp | -61.2%-22.7pp | -38.5% |
| Net Margin | -143.2%-54.1pp | -89.1%+465.9pp | -555.1%-6.7pp | -548.4%-513.7pp | -34.6%+17.8pp | -52.5%+29.6pp | -82.1%-32.7pp | -49.4% |
| Return on Equity | N/A | N/A | N/A | N/A | -15.6%+19.8pp | -35.4%+18.5pp | -53.9%-25.0pp | -28.9% |
| Return on Assets | -34.7%-10.0pp | -24.7%+166.9pp | -191.6%-52.1pp | -139.5%-133.6pp | -5.9%+4.6pp | -10.5%+6.5pp | -17.0%-5.7pp | -11.3% |
| Current Ratio | 0.030.0 | 0.040.0 | 0.04-0.0 | 0.08-0.1 | 0.22-0.0 | 0.25-0.0 | 0.28-0.4 | 0.69 |
| Debt-to-Equity | -0.010.0 | -0.010.0 | -0.01+0.0 | -0.03-0.5 | 0.50-0.1 | 0.58+0.1 | 0.47-0.6 | 1.04 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$48.4M), 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 (0.04), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Ebet's annual revenue?
Ebet (EBET) reported $39.2M in total revenue for fiscal year 2023. This represents a -33.1% 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 Ebet's revenue growing?
Ebet (EBET) revenue declined by 33.1% year-over-year, from $58.6M to $39.2M in fiscal year 2023.
Is Ebet profitable?
No, Ebet (EBET) reported a net income of -$84.2M in fiscal year 2023, with a net profit margin of -215.0%.
What is Ebet's EBITDA?
Ebet (EBET) had EBITDA of -$58.7M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ebet have?
As of fiscal year 2023, Ebet (EBET) had $305K in cash and equivalents against $560K in long-term debt.
What is Ebet's gross margin?
Ebet (EBET) had a gross margin of 43.9% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ebet's operating margin?
Ebet (EBET) had an operating margin of -167.7% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Ebet's net profit margin?
Ebet (EBET) had a net profit margin of -215.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Ebet's operating cash flow?
Ebet (EBET) generated -$10.0M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Ebet's total assets?
Ebet (EBET) had $15.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What is Ebet's current ratio?
Ebet (EBET) had a current ratio of 0.04 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is Ebet's debt-to-equity ratio?
Ebet (EBET) had a debt-to-equity ratio of -0.01 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ebet's return on assets (ROA)?
Ebet (EBET) had a return on assets of -557.7% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Ebet's cash runway?
Based on fiscal year 2023 data, Ebet (EBET) had $305K in cash against an annual operating cash burn of $10.0M. 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 Ebet's debt-to-equity ratio negative or unusual?
Ebet (EBET) has negative shareholder equity of -$48.4M 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 Ebet's Piotroski F-Score?
Ebet (EBET) 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.
Are Ebet's earnings high quality?
Ebet (EBET) has an earnings quality ratio of 0.12x, 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 Ebet cover its interest payments?
Ebet (EBET) has an interest coverage ratio of -3.8x, 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 Ebet?
Ebet (EBET) scores 32 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.