Forza Innovations Inc Financials

FORZ

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2023 Currency USD FYE June

This page shows Forza Innovations Inc (FORZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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

Piotroski F-Score Weak

2/9

Forza Innovations 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.

Earnings Quality Low Quality

0.16x

For every $1 of reported earnings, Forza Innovations Inc generates $0.16 in operating cash flow (-$764K OCF vs -$4.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-4.0x

Forza Innovations Inc earns $-4.0 in operating income for every $1 of interest expense (-$927K vs $234K). 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

$115K

YoY+343.0%

5Y CAGR-13.5%

Forza Innovations Inc generated $115K in revenue in fiscal year 2023. This represents an increase of 343.0% from the prior year.

EBITDA

-$867K

YoY+53.5%

Forza Innovations Inc's EBITDA was -$867K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 53.5% from the prior year.

Free Cash Flow

-$846K

YoY-7.4%

Forza Innovations Inc generated -$846K in free cash flow in fiscal year 2023, representing cash available after capex. This represents a decrease of 7.4% from the prior year.

Net Income

-$4.8M

YoY-76.1%

Forza Innovations Inc reported -$4.8M in net income in fiscal year 2023. This represents a decrease of 76.1% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

Forza Innovations Inc held $0 in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

1.36B

YoY+355.5%

Forza Innovations Inc had 1.36B shares outstanding in fiscal year 2023. This represents an increase of 355.5% from the prior year.

Gross Margin

76.5%

YoY-12.7pp

5Y CAGR+73.7pp

Forza Innovations Inc's gross margin was 76.5% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 12.7 percentage points from the prior year.

Operating Margin

-808.6%

YoY+6534.2pp

5Y CAGR-779.8pp

Forza Innovations Inc's operating margin was -808.6% in fiscal year 2023, reflecting core business profitability. This is up 6534.2 percentage points from the prior year.

Net Margin

-4150.0%

YoY+6288.4pp

5Y CAGR-4117.8pp

Forza Innovations Inc's net profit margin was -4150.0% in fiscal year 2023, showing the share of revenue converted to profit. This is up 6288.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$82K

YoY+8.9%

Forza Innovations Inc invested $82K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents an increase of 8.9% from the prior year.

FORZ Income Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$115K+343.0%	$26K	$0-100.0%	$605K-21.2%	$769K+224.6%	$237K
Cost of Revenue	$27K+863.4%	$3K	$0-100.0%	$398K-13.0%	$458K+99.1%	$230K
Gross Profit	$88K+280.0%	$23K	$0-100.0%	$207K-33.4%	$311K+4488.3%	$7K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$299K+96.4%	$152K+153.2%	$60K+80.9%	$33K-58.0%	$79K+88.9%	$42K
Operating Income	-$927K+51.2%	-$1.9M-3057.4%	-$60K-80.9%	-$33K-120.5%	$162K+337.5%	-$68K
Interest Expense	$234K+55.8%	$150K+477.5%	$26K-40.6%	$44K+106.9%	$21K+168.3%	$8K
Income Tax	$0	$0	$0	$0-100.0%	$38K	N/A
Net Income	-$4.8M-76.1%	-$2.7M+14.1%	-$3.1M-879.1%	-$321K-412.4%	$103K+234.7%	-$76K
EPS (Diluted)	N/A	N/A	N/A	$0.00	$0.00	$0.00

Metric	Q2'24	Q1'24	Q2'23	Q3'23	Q2'23	Q1'23	Q2'22	Q3'22
Revenue	$8K-75.9%	$32K	N/A	$40K+26.4%	$32K+9.1%	$29K	N/A	N/A
Cost of Revenue	$14-99.0%	$1K	N/A	$356-98.3%	$21K+281.6%	$5K	N/A	N/A
Gross Profit	$8K-74.9%	$31K	N/A	$40K+264.8%	$11K-53.9%	$24K	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14K-12.6%	$16K	N/A	$80K-0.1%	$80K+26.7%	$63K	N/A	$224K
Operating Income	-$17K-1037.5%	-$2K	N/A	-$298K+31.0%	-$432K+15.8%	-$513K	N/A	-$407K
Interest Expense	$66K+8.0%	$61K	N/A	$55K+157.2%	$21K-64.1%	$59K	N/A	$73K
Income Tax	$0	$0	N/A	N/A	$0	$0	N/A	N/A
Net Income	$879K+235.6%	-$648K	N/A	-$1.1M-25.2%	-$862K-2.9%	-$838K	N/A	-$999K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FORZ Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$91K-80.2%	$463K+235.5%	$138K-83.7%	$848K+35.6%	$625K+19.0%	$526K
Current Assets	N/A	$301K+2101.1%	$14K-94.8%	$261K+17.1%	$223K+59.3%	$140K
Cash & Equivalents	$0	$0-100.0%	$14K-92.2%	$175K+2.7%	$170K+852.7%	$18K
Inventory	N/A	N/A	N/A	N/A	$0-100.0%	$8K
Accounts Receivable	N/A	N/A	N/A	$86K+63.6%	$53K-53.8%	$114K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.7M+162.6%	$1.8M+325.5%	$421K-46.6%	$788K+49.5%	$527K-0.5%	$530K
Current Liabilities	$4.7M+162.6%	$1.8M+325.5%	$421K-1.5%	$427K+76.9%	$241K+24.2%	$194K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$4.6M-247.2%	-$1.3M-369.4%	-$283K-568.0%	$60K-38.6%	$98K+2375.6%	-$4K
Retained Earnings	-$11.0M-76.8%	-$6.2M-77.3%	-$3.5M-894.0%	-$352K-1049.7%	-$31K+77.1%	-$133K

Metric	Q2'24	Q1'24	Q2'23	Q3'23	Q2'23	Q1'23	Q2'22	Q3'22
Total Assets	$73K-17.0%	$88K-3.3%	$91K-63.7%	$252K-10.5%	$282K-44.1%	$504K+9.0%	$463K-21.8%	$591K
Current Assets	$1K-88.3%	$10K-50.1%	$21K-64.6%	$59K-16.2%	$70K-74.4%	$274K-8.8%	$301K-30.0%	$430K
Cash & Equivalents	$1K-88.1%	$10K	$0-100.0%	$13K	$0	$0	$0-100.0%	$430K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$200	N/A	N/A	N/A	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	$4.3M-17.5%	$5.3M+11.7%	$4.7M+61.1%	$2.9M+34.4%	$2.2M+2.2%	$2.1M+18.8%	$1.8M-2.3%	$1.8M
Current Liabilities	$4.3M-17.5%	$5.3M+11.7%	$4.7M+61.1%	$2.9M+34.4%	$2.2M+2.2%	$2.1M+18.8%	$1.8M-2.3%	$1.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$4.3M+17.5%	-$5.2M-12.0%	-$4.6M-72.9%	-$2.7M-41.1%	-$1.9M-16.5%	-$1.6M-22.2%	-$1.3M-7.0%	-$1.2M
Retained Earnings	-$10.7M+7.6%	-$11.6M-5.9%	-$11.0M-22.0%	-$9.0M-13.7%	-$7.9M-12.3%	-$7.0M-13.5%	-$6.2M-6.0%	-$5.8M

FORZ Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$764K-7.2%	-$712K-1174.2%	$66K+206.7%	$22K-90.4%	$225K+322.2%	-$101K
Capital Expenditures	$82K+8.9%	$76K+89.0%	$40K	$0-100.0%	$58K	N/A
Free Cash Flow	-$846K-7.4%	-$788K-3095.6%	$26K+21.7%	$22K-87.1%	$167K	N/A
Investing Cash Flow	-$129K-70.0%	-$76K+31.3%	-$110K+57.0%	-$256K-343.6%	-$58K+85.5%	-$397K
Financing Cash Flow	$596K-44.3%	$1.1M+1761.0%	$57K-76.0%	$239K+1689.4%	-$15K-103.0%	$496K
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	Q2'24	Q1'24	Q2'23	Q3'23	Q2'23	Q1'23	Q2'22	Q3'22
Operating Cash Flow	-$16K-34.7%	-$12K+72.7%	-$43K+73.6%	-$161K+48.7%	-$315K-28.6%	-$245K-12.1%	-$218K+31.4%	-$318K
Capital Expenditures	N/A	N/A	$0-100.0%	$4+200.0%	-$4-100.0%	$82K+305.9%	$20K	N/A
Free Cash Flow	N/A	N/A	-$43K+73.6%	-$161K+48.7%	-$315K+3.8%	-$327K-37.0%	-$239K	N/A
Investing Cash Flow	N/A	N/A	$0+100.0%	-$28K-46.7%	-$19K+77.2%	-$82K-305.9%	-$20K	N/A
Financing Cash Flow	$32K+3055.8%	$1K-96.7%	$30K-80.0%	$150K+35.7%	$111K-63.9%	$306K+192.5%	$105K-86.6%	$781K
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

FORZ Financial Ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	76.5%-12.7pp	89.2%	N/A	34.2%-6.2pp	40.4%+37.6pp	2.9%
Operating Margin	-808.6%+6534.2pp	-7342.9%	N/A	-5.5%-26.6pp	21.1%+50.0pp	-28.9%
Net Margin	-4150.0%+6288.4pp	-10438.4%	N/A	-53.0%-66.4pp	13.4%+45.6pp	-32.2%
Return on Equity	N/A	N/A	N/A	N/A	104.4%	N/A
Return on Assets	-5202.9%-4619.1pp	-583.8%+1695.8pp	-2279.6%-2241.8pp	-37.8%-54.3pp	16.4%+30.9pp	-14.5%
Current Ratio	N/A	0.17+0.1	0.03-0.6	0.61-0.3	0.92+0.2	0.72
Debt-to-Equity	-1.02+0.3	-1.35+0.1	-1.49-14.5	13.04+7.7	5.35+127.9	-122.51
FCF Margin	-738.1%+2306.8pp	-3044.9%	N/A	3.6%-18.2pp	21.8%	N/A

Metric	Q2'24	Q1'24	Q2'23	Q3'23	Q2'23	Q1'23	Q2'22	Q3'22
Gross Margin	99.8%+4.2pp	95.6%	N/A	99.1%+64.8pp	34.3%-46.9pp	81.2%	N/A	N/A
Operating Margin	-223.5%-218.8pp	-4.7%	N/A	-745.8%+620.6pp	-1366.4%+404.6pp	-1771.0%	N/A	N/A
Net Margin	11330.0%+13340.7pp	-2010.7%	N/A	-2701.5%+25.4pp	-2726.8%+164.5pp	-2891.4%	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	1197.2%+1930.4pp	-733.2%	N/A	-428.1%-122.1pp	-306.0%-139.8pp	-166.2%	N/A	-169.0%
Current Ratio	0.00-1.5	1.45-1.6	3.02+3.0	0.02-0.0	0.03-0.1	0.13-0.0	0.17-0.1	0.23
Debt-to-Equity	-1.020.0	-1.020.0	-1.02+0.1	-1.09+0.1	-1.15+0.2	-1.31+0.0	-1.35+0.1	-1.48
FCF Margin	N/A	N/A	N/A	-403.9%+591.6pp	-995.5%+133.2pp	-1128.7%	N/A	N/A

Note: Shareholder equity is negative (-$4.6M), 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.

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Frequently Asked Questions

What is Forza Innovations Inc's annual revenue?

Forza Innovations Inc (FORZ) reported $115K in total revenue for fiscal year 2023. This represents a 343.0% 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 Forza Innovations Inc's revenue growing?

Forza Innovations Inc (FORZ) revenue grew by 343% year-over-year, from $26K to $115K in fiscal year 2023.

Is Forza Innovations Inc profitable?

No, Forza Innovations Inc (FORZ) reported a net income of -$4.8M in fiscal year 2023, with a net profit margin of -4150.0%.

What is Forza Innovations Inc's EBITDA?

Forza Innovations Inc (FORZ) had EBITDA of -$867K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Forza Innovations Inc's gross margin?

Forza Innovations Inc (FORZ) had a gross margin of 76.5% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

What is Forza Innovations Inc's operating margin?

Forza Innovations Inc (FORZ) had an operating margin of -808.6% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

What is Forza Innovations Inc's net profit margin?

Forza Innovations Inc (FORZ) had a net profit margin of -4150.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.

What is Forza Innovations Inc's free cash flow?

Forza Innovations Inc (FORZ) generated -$846K in free cash flow during fiscal year 2023. This represents a -7.4% 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 Forza Innovations Inc's operating cash flow?

Forza Innovations Inc (FORZ) generated -$764K in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Forza Innovations Inc's total assets?

Forza Innovations Inc (FORZ) had $91K in total assets as of fiscal year 2023, including both current and long-term assets.

What are Forza Innovations Inc's capital expenditures?

Forza Innovations Inc (FORZ) invested $82K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.

How many shares does Forza Innovations Inc have outstanding?

Forza Innovations Inc (FORZ) had 1.36B shares outstanding as of fiscal year 2023.

What is Forza Innovations Inc's debt-to-equity ratio?

Forza Innovations Inc (FORZ) had a debt-to-equity ratio of -1.02 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Forza Innovations Inc's return on assets (ROA)?

Forza Innovations Inc (FORZ) had a return on assets of -5202.9% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Forza Innovations Inc's cash runway?

Based on fiscal year 2023 data, Forza Innovations Inc (FORZ) had $0 in cash against an annual operating cash burn of $764K. 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 Forza Innovations Inc's debt-to-equity ratio negative or unusual?

Forza Innovations Inc (FORZ) has negative shareholder equity of -$4.6M 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 Forza Innovations Inc's Piotroski F-Score?

Forza Innovations Inc (FORZ) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Forza Innovations Inc's earnings high quality?

Forza Innovations Inc (FORZ) has an earnings quality ratio of 0.16x, 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 Forza Innovations Inc cover its interest payments?

Forza Innovations Inc (FORZ) has an interest coverage ratio of -4.0x, 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.