Houston American Financials

HUSA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Houston American (HUSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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

Houston American 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), both operating efficiency signals pass.

Earnings Quality Low Quality

0.19x

For every $1 of reported earnings, Houston American generates $0.19 in operating cash flow (-$1.5M OCF vs -$8.2M 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

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Earnings & Revenue

Revenue

$560K

YoY-29.5%

5Y CAGR-10.9%

Houston American generated $560K in revenue in fiscal year 2024. This represents a decrease of 29.5% from the prior year.

EBITDA

-$9.1M

YoY-105.8%

Houston American's EBITDA was -$9.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 105.8% from the prior year.

Net Income

-$8.2M

YoY-155.9%

Houston American reported -$8.2M in net income in fiscal year 2024. This represents a decrease of 155.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$526K

YoY-87.0%

5Y CAGR+40.0%

10Y CAGR-18.5%

Houston American held $526K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

32M

YoY+191.4%

5Y CAGR+43.2%

Houston American had 32M shares outstanding in fiscal year 2024. This represents an increase of 191.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-1649.6%

YoY-1072.7pp

5Y CAGR-1415.7pp

Houston American's operating margin was -1649.6% in fiscal year 2024, reflecting core business profitability. This is down 1072.7 percentage points from the prior year.

Net Margin

-1466.7%

YoY-1062.3pp

5Y CAGR-1214.6pp

Houston American's net profit margin was -1466.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1062.3 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

HUSA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$560K-29.5%	$794K-51.5%	$1.6M+23.2%	$1.3M+140.8%	$552K-44.7%	$998K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.2M+20.1%	$1.9M+17.2%	$1.6M+5.9%	$1.5M+3.1%	$1.4M+6.6%	$1.4M
Operating Income	-$9.2M-101.7%	-$4.6M-488.9%	-$778K+24.8%	-$1.0M+75.3%	-$4.2M-79.2%	-$2.3M
Interest Expense	N/A	N/A	N/A	$296-99.1%	$32K-82.7%	$184K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$8.2M-155.9%	-$3.2M-331.5%	-$744K+27.1%	-$1.0M+74.7%	-$4.0M-60.5%	-$2.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$200K+80.9%	$111K+8.0%	$102K-38.5%	$166K+27.8%	$130K+12.5%	$116K-21.6%	$148K-40.1%	$247K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	$111K	N/A	N/A	N/A
SG&A Expenses	$16.6M+902.5%	$1.7M+55.7%	$1.1M-1.0%	$1.1M+148.6%	$433K+21.8%	$356K-0.6%	$358K-19.3%	$443K
Operating Income	-$20.1M-1004.0%	-$1.8M-71.6%	-$1.1M+86.5%	-$7.9M-1346.1%	-$545K-32.8%	-$410K-0.5%	-$408K+87.5%	-$3.3M
Interest Expense	$100K	N/A	N/A	N/A	$100K	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$20.4M-1036.9%	-$1.8M-73.8%	-$1.0M+87.6%	-$8.3M-2850.7%	-$282K-171.0%	$397K+2627.0%	-$16K+99.5%	-$3.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HUSA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.1M-60.4%	$10.4M-11.5%	$11.7M+9.3%	$10.7M+56.9%	$6.8M-3.2%	$7.1M
Current Assets	$854K-79.5%	$4.2M-13.1%	$4.8M-7.7%	$5.2M+278.0%	$1.4M+531.5%	$218K
Cash & Equivalents	$526K-87.0%	$4.1M-10.7%	$4.5M-7.1%	$4.9M+293.9%	$1.2M+1169.0%	$98K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$75K+4.7%	$72K-56.4%	$165K-23.3%	$215K+124.2%	$96K+19.4%	$80K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.2M+1516.7%	$383K-7.5%	$414K-1.8%	$422K+4.6%	$403K-67.2%	$1.2M
Current Liabilities	$6.2M+2388.1%	$249K+27.6%	$195K+37.5%	$142K-38.7%	$232K-76.0%	$966K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.1M-120.8%	$10.0M-11.7%	$11.3M+9.7%	$10.3M+60.1%	$6.4M+10.3%	$5.8M
Retained Earnings	-$16.7M+78.4%	-$77.0M-4.4%	-$73.8M-1.0%	-$73.0M-1.4%	-$72.0M-5.9%	-$68.0M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$28.8M+230.8%	$8.7M+21.6%	$7.2M+74.1%	$4.1M-59.6%	$10.2M-2.0%	$10.4M-0.9%	$10.5M+1.1%	$10.4M
Current Assets	$2.4M-68.4%	$7.5M+27.6%	$5.9M+585.5%	$854K-72.2%	$3.1M-12.8%	$3.5M-9.9%	$3.9M-6.4%	$4.2M
Cash & Equivalents	$1.5M-78.2%	$7.0M+30.9%	$5.3M+909.6%	$526K-81.5%	$2.8M-15.8%	$3.4M-9.9%	$3.8M-7.6%	$4.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$33K-0.7%	$33K-8.8%	$36K-51.9%	$75K-46.3%	$140K+335.7%	$32K+18.2%	$27K-62.1%	$72K
Goodwill	$13.0M0.0%	$13.0M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$12.5M+4016.7%	$305K+93.3%	$158K-97.5%	$6.2M+1599.1%	$365K-17.8%	$443K-3.8%	$461K+20.3%	$383K
Current Liabilities	$6.3M+2521.6%	$242K+154.7%	$95K-98.5%	$6.2M+2014.5%	$293K-16.3%	$350K+1.1%	$346K+39.0%	$249K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.3M+93.7%	$8.4M+20.0%	$7.0M+437.1%	-$2.1M-121.2%	$9.8M-1.3%	$10.0M-0.8%	$10.0M+0.3%	$10.0M
Retained Earnings	-$39.2M+55.5%	-$88.0M-2.1%	-$86.2M-417.8%	-$16.7M+78.4%	-$77.2M-0.2%	-$77.1M-0.1%	-$77.0M0.0%	-$77.0M

HUSA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$1.5M-683.8%	$263K+214.9%	-$229K+66.4%	-$681K+21.3%	-$865K-19.3%	-$725K
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	-$1.9M+21.5%	-$2.4M-44.6%	-$1.7M-597.5%	-$238K+84.8%	-$1.6M-76.7%	-$889K
Financing Cash Flow	$2.3M+40.7%	$1.7M+7.1%	$1.5M-66.2%	$4.6M+27.6%	$3.6M+270.5%	$967K
Dividends Paid	N/A	N/A	N/A	$37K-84.0%	$232K+0.7%	$230K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$1.8M-18.8%	-$1.5M-14.9%	-$1.3M-700.1%	-$164K+88.8%	-$1.5M-4076.6%	-$35K-128.5%	$123K-74.1%	$475K
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	-$1.7M	$0+100.0%	-$160K+86.0%	-$1.1M-6074.1%	$19K+105.7%	-$335K+22.1%	-$431K+4.0%	-$449K
Financing Cash Flow	$463K-85.3%	$3.1M-17.6%	$3.8M+1597.6%	$225K	N/A	N/A	N/A	$0
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

HUSA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1649.6%-1072.7pp	-576.9%-529.4pp	-47.5%+30.3pp	-77.8%+679.5pp	-757.3%-523.4pp	-233.8%
Net Margin	-1466.7%-1062.3pp	-404.4%-359.0pp	-45.4%+31.4pp	-76.8%+654.1pp	-730.9%-478.8pp	-252.1%
Return on Equity	N/A	-32.1%-25.5pp	-6.6%+3.3pp	-9.9%+52.8pp	-62.7%-19.6pp	-43.1%
Return on Assets	-199.7%-168.7pp	-30.9%-24.6pp	-6.3%+3.2pp	-9.5%+49.5pp	-59.0%-23.4pp	-35.6%
Current Ratio	0.14-16.6	16.74-7.8	24.58-12.0	36.59+30.7	5.93+5.7	0.23
Debt-to-Equity	-2.98-3.0	0.040.0	0.040.0	0.04-0.0	0.06-0.1	0.21
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-10060.3%-8411.8pp	-1648.5%-610.8pp	-1037.7%+3695.0pp	-4732.6%-4314.4pp	-418.3%-64.0pp	-354.3%-77.9pp	-276.4%+1045.0pp	-1321.4%
Net Margin	-10203.1%-8579.6pp	-1623.5%-614.6pp	-1008.8%+3986.8pp	-4995.7%-4779.3pp	-216.4%-558.9pp	342.6%+353.2pp	-10.6%+1388.2pp	-1398.8%
Return on Equity	-125.3%-103.9pp	-21.3%-6.6pp	-14.7%	N/A	-2.9%-6.9pp	4.0%+4.1pp	-0.2%+34.4pp	-34.5%
Return on Assets	-70.8%-50.2pp	-20.6%-6.2pp	-14.4%+187.7pp	-202.1%-199.3pp	-2.8%-6.6pp	3.8%+4.0pp	-0.1%+33.1pp	-33.2%
Current Ratio	0.37-30.5	30.84-30.7	61.54+61.4	0.14-10.3	10.47+0.4	10.05-1.2	11.27-5.5	16.74
Debt-to-Equity	0.77+0.7	0.04+0.0	0.02+3.0	-2.98-3.0	0.040.0	0.040.0	0.050.0	0.04
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$2.1M), 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 (0.14), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Houston American's annual revenue?

Houston American (HUSA) reported $560K in total revenue for fiscal year 2024. This represents a -29.5% 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 Houston American's revenue growing?

Houston American (HUSA) revenue declined by 29.5% year-over-year, from $794K to $560K in fiscal year 2024.

Is Houston American profitable?

No, Houston American (HUSA) reported a net income of -$8.2M in fiscal year 2024, with a net profit margin of -1466.7%.

What is Houston American's EBITDA?

Houston American (HUSA) had EBITDA of -$9.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Houston American's operating margin?

Houston American (HUSA) had an operating margin of -1649.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Houston American's net profit margin?

Houston American (HUSA) had a net profit margin of -1466.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Houston American's operating cash flow?

Houston American (HUSA) generated -$1.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Houston American's total assets?

Houston American (HUSA) had $4.1M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Houston American have outstanding?

Houston American (HUSA) had 32M shares outstanding as of fiscal year 2024.

What is Houston American's current ratio?

Houston American (HUSA) had a current ratio of 0.14 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Houston American's debt-to-equity ratio?

Houston American (HUSA) had a debt-to-equity ratio of -2.98 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Houston American's return on assets (ROA)?

Houston American (HUSA) had a return on assets of -199.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Houston American's cash runway?

Based on fiscal year 2024 data, Houston American (HUSA) had $526K in cash against an annual operating cash burn of $1.5M. This gives an estimated cash runway of approximately 4 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 Houston American's debt-to-equity ratio negative or unusual?

Houston American (HUSA) has negative shareholder equity of -$2.1M as of fiscal year 2024, 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 Houston American's Piotroski F-Score?

Houston American (HUSA) 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 Houston American's earnings high quality?

Houston American (HUSA) has an earnings quality ratio of 0.19x, 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.