Farmhouse Financials

FMHS

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Farmhouse (FMHS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 FMHS FY2025 2026-05-20

Farmhouse’s dominant mechanic is external financing replacing operating cash as sales shrink and liabilities dominate the balance sheet.

Across FY2024-FY2025, operating cash burn of -$106K and -$179K was almost entirely offset by financing inflows of $107K and $193K, so new capital appears to be funding day-to-day shortfalls rather than expansion. That matters because FY2025 still ended with only $14K of cash against $2.3M of current liabilities, leaving little liquidity relief even after the cash infusion.

FY2025’s gross margin jump to 79.9% alongside revenue falling to $623 from $4.2K looks less like broad efficiency and more like a much smaller, higher-markup revenue mix. That improvement is overwhelmed by the cost structure: SG&A reached $269K and interest expense was $72K, both far above the year’s sales base.

The balance sheet is shaped by obligations rather than operating scale: liabilities increased from $2.0M in FY2023 to $2.7M in FY2025 while FY2025 assets were only $57K. With equity still negative at -$2.7M and the current ratio far below 1x, short-term commitments remain outsized relative to the resources on hand.

Financial Health Signals

Financial Profile 0/100

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 Farmhouse'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.

Growth

Farmhouse's revenue declined 85% year-over-year, from $4K to $623. This contraction results in a growth score of 0/100.

Liquidity

Farmhouse's current ratio of 0.03 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

2/9

Farmhouse passes 2 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Key Financial Metrics

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Earnings & Revenue

Revenue

$623

YoY-85.0%

5Y CAGR-48.2%

Farmhouse generated $623 in revenue in fiscal year 2025. This represents a decrease of 85.0% from the prior year.

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$14K

YoY+3335.4%

5Y CAGR+29.4%

Farmhouse held $14K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

19M

YoY+5.6%

5Y CAGR+5.1%

Farmhouse had 19M shares outstanding in fiscal year 2025. This represents an increase of 5.6% from the prior year.

Margins & Returns

Gross Margin

79.9%

YoY+25.1pp

5Y CAGR-20.1pp

Farmhouse's gross margin was 79.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 25.1 percentage points from the prior year.

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FMHS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$623-85.0%	$4K-72.7%	$15K+48.4%	$10K-16.2%	$12K-26.6%	$17K
Cost of Revenue	$125-93.3%	$2K-72.9%	$7K+82.1%	$4K-52.4%	$8K	$0
Gross Profit	$498-78.1%	$2K-72.5%	$8K+28.5%	$6K+52.1%	$4K-74.6%	$17K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$269K	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$72K+28.3%	$56K+9.2%	$51K-3.6%	$53K+27.3%	$42K-34.0%	$63K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$0	N/A	$0	N/A	$0	N/A	$0-100.0%	$2K
Cost of Revenue	$0	N/A	$0	N/A	$0	N/A	$0-100.0%	$744
Gross Profit	$0	N/A	$0	$0	$0	N/A	$0-100.0%	$1K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$68K	N/A	$67K+4.9%	$64K-4.8%	$67K	N/A	$68K	N/A
Operating Income	-$109K	N/A	-$95K+19.5%	-$118K-29.5%	-$91K	N/A	-$93K	N/A
Interest Expense	$31K	N/A	$16K+11.6%	$15K-7.8%	$16K	N/A	$14K+6.8%	$13K
Income Tax	$0	N/A	N/A	N/A	$0	N/A	N/A	N/A
Net Income	-$155K	N/A	-$111K+16.0%	-$132K-293.6%	$68K	N/A	-$107K	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FMHS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$57K+85.7%	$31K+277.3%	$8K-87.6%	$66K+736.6%	$8K+52.1%	$5K
Current Assets	$57K+1139.2%	$5K-43.5%	$8K-87.6%	$66K+774.8%	$8K+92.8%	$4K
Cash & Equivalents	$14K+3335.4%	$413	$0-100.0%	$62K+1541.9%	$4K-3.2%	$4K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$0-100.0%	$4K	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7M+15.1%	$2.4M+19.5%	$2.0M+20.4%	$1.6M+4.5%	$1.6M+38.4%	$1.1M
Current Liabilities	$2.3M-2.9%	$2.3M+19.8%	$2.0M+18.3%	$1.6M+4.5%	$1.6M+38.4%	$1.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.7M-14.2%	-$2.3M-18.4%	-$2.0M-24.9%	-$1.6M-0.8%	-$1.6M-38.3%	-$1.1M
Retained Earnings	-$7.2M-5.8%	-$6.8M-7.4%	-$6.3M-9.8%	-$5.7M-8.4%	-$5.3M-22.5%	-$4.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$95K+66.4%	$57K+90.1%	$30K-37.8%	$48K-8.8%	$53K+72.1%	$31K-11.0%	$35K+341.7%	$8K
Current Assets	$95K+66.4%	$57K+1367.2%	$4K-82.4%	$22K-17.4%	$27K+481.3%	$5K-45.1%	$8K+7.3%	$8K
Cash & Equivalents	$32K+127.9%	$14K+264.2%	$4K-69.9%	$13K-32.9%	$19K+4577.2%	$413	$0-100.0%	$2K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$2K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.9M+6.9%	$2.7M+7.8%	$2.5M+3.5%	$2.4M+5.4%	$2.3M-2.1%	$2.4M+4.0%	$2.3M+4.7%	$2.2M
Current Liabilities	$2.5M+7.8%	$2.3M+10.8%	$2.1M+3.5%	$2.0M+2.0%	$1.9M-17.0%	$2.3M+4.0%	$2.2M+4.7%	$2.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.8M-5.6%	-$2.7M-6.8%	-$2.5M-4.3%	-$2.4M-5.7%	-$2.3M+3.0%	-$2.3M-4.2%	-$2.2M-3.5%	-$2.2M
Retained Earnings	-$7.3M-2.2%	-$7.2M-3.1%	-$6.9M-1.6%	-$6.8M-2.0%	-$6.7M+1.0%	-$6.8M-1.5%	-$6.7M-1.6%	-$6.6M

FMHS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$179K-68.2%	-$106K	N/A	-$271K	N/A	N/A
Capital Expenditures	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
Investing Cash Flow	$0	$0	$0	N/A	-$250	$0
Financing Cash Flow	$193K+80.5%	$107K+399.4%	$21K+135.2%	-$61K	N/A	N/A
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$61K-37.5%	-$45K-125.9%	-$20K+74.3%	-$77K-104.9%	-$38K-236.6%	-$11K+71.2%	-$39K	N/A
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	-$15K	$0	$0	$0	$0	$0	$0	$0
Financing Cash Flow	$95K+72.7%	$55K+412.5%	$11K-84.8%	$71K+25.1%	$56K+367.7%	$12K-66.6%	$36K	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

FMHS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	79.9%+25.1pp	54.9%+0.4pp	54.5%-8.4pp	62.9%+28.2pp	34.7%-65.3pp	100.0%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.03+0.0	0.000.0	0.00-0.0	0.04+0.0	0.000.0	0.00
Debt-to-Equity	-1.020.0	-1.010.0	-1.00+0.0	-1.04-0.0	-1.000.0	-1.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	60.7%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-163.4%	N/A	-369.0%-95.5pp	-273.5%-402.4pp	128.9%	N/A	-310.0%	N/A
Current Ratio	0.04+0.0	0.03+0.0	0.000.0	0.010.0	0.01+0.0	0.000.0	0.000.0	0.00
Debt-to-Equity	-1.03-0.0	-1.020.0	-1.010.0	-1.020.0	-1.02-0.0	-1.010.0	-1.02-0.0	-1.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$2.7M), 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 (0.03), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Farmhouse's annual revenue?

Farmhouse (FMHS) reported $623 in total revenue for fiscal year 2025. This represents a -85.0% 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 Farmhouse's revenue growing?

Farmhouse (FMHS) revenue declined by 85% year-over-year, from $4K to $623 in fiscal year 2025.

What is Farmhouse's gross margin?

Farmhouse (FMHS) had a gross margin of 79.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Farmhouse's operating cash flow?

Farmhouse (FMHS) generated -$179K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Farmhouse's total assets?

Farmhouse (FMHS) had $57K in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Farmhouse have outstanding?

Farmhouse (FMHS) had 19M shares outstanding as of fiscal year 2025.

What is Farmhouse's current ratio?

Farmhouse (FMHS) had a current ratio of 0.03 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Farmhouse's debt-to-equity ratio?

Farmhouse (FMHS) had a debt-to-equity ratio of -1.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Farmhouse's cash runway?

Based on fiscal year 2025 data, Farmhouse (FMHS) had $14K in cash against an annual operating cash burn of $179K. This gives an estimated cash runway of approximately 1 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 Farmhouse's debt-to-equity ratio negative or unusual?

Farmhouse (FMHS) has negative shareholder equity of -$2.7M 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 Farmhouse's Piotroski F-Score?

Farmhouse (FMHS) 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.

How financially healthy is Farmhouse?

Farmhouse (FMHS) scores 0 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.