Icts International Nv Financials

ICTSF

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

This page shows Icts International Nv (ICTSF) 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

Financial Profile 31/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Icts International Nv has an operating margin of -1.2%, meaning the company retains $-1 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 2.5% the prior year.

Growth

Icts International Nv's revenue grew 12.0% year-over-year to $483.3M, a solid pace of expansion. This earns a growth score of 63/100.

Liquidity

Icts International Nv's current ratio of 2.04 indicates adequate short-term liquidity, earning a score of 62/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Icts International Nv generated -$9.5M in operating cash flow, capex of $1.9M consumed most of it, leaving -$11.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

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

Earnings Quality Low Quality

2.24x

For every $1 of reported earnings, Icts International Nv generates $2.24 in operating cash flow (-$9.5M OCF vs -$4.2M 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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Revenue

$483.3M

YoY+12.0%

5Y CAGR+7.7%

10Y CAGR+10.8%

Icts International Nv generated $483.3M in revenue in fiscal year 2024. This represents an increase of 12.0% from the prior year.

EBITDA

-$3.4M

YoY-125.4%

Icts International Nv's EBITDA was -$3.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 125.4% from the prior year.

Free Cash Flow

-$11.4M

YoY-502.4%

Icts International Nv generated -$11.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 502.4% from the prior year.

Net Income

-$4.2M

YoY-159.8%

Icts International Nv reported -$4.2M in net income in fiscal year 2024. This represents a decrease of 159.8% from the prior year.

EPS (Diluted)

$-0.11

YoY-161.1%

Icts International Nv earned $-0.11 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 161.1% from the prior year.

Cash & Debt

$64.7M

YoY+17.1%

5Y CAGR+4.3%

10Y CAGR+26.9%

Icts International Nv held $64.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

37M

YoY+0.0%

5Y CAGR+1.1%

10Y CAGR+16.6%

Icts International Nv had 37M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

14.4%

YoY-4.1pp

5Y CAGR+1.6pp

10Y CAGR+2.5pp

Icts International Nv's gross margin was 14.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 4.1 percentage points from the prior year.

Operating Margin

-1.2%

YoY-3.7pp

5Y CAGR-2.6pp

10Y CAGR-1.9pp

Icts International Nv's operating margin was -1.2% in fiscal year 2024, reflecting core business profitability. This is down 3.7 percentage points from the prior year.

Net Margin

-0.9%

YoY-2.5pp

5Y CAGR+1.5pp

10Y CAGR-1.7pp

Icts International Nv's net profit margin was -0.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 2.5 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$14.4M

YoY+16.6%

5Y CAGR+23.2%

10Y CAGR+20.6%

Icts International Nv invested $14.4M in research and development in fiscal year 2024. This represents an increase of 16.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.9M

YoY+25.6%

5Y CAGR+0.7%

10Y CAGR+11.7%

Icts International Nv invested $1.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 25.6% from the prior year.

ICTSF Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$483.3M+12.0%	$431.5M+32.8%	$325.0M0.0%	$324.9M+30.8%	$248.4M-25.5%	$333.3M
Cost of Revenue	$413.5M+17.6%	$351.6M+34.6%	$261.2M+24.5%	$209.8M+6.7%	$196.6M-32.3%	$290.5M
Gross Profit	$69.8M-12.7%	$80.0M+25.4%	$63.8M-44.6%	$115.2M+122.1%	$51.9M+21.0%	$42.8M
R&D Expenses	$14.4M+16.6%	$12.3M-9.4%	$13.6M+12.3%	$12.1M+85.2%	$6.5M+29.3%	$5.1M
SG&A Expenses	$61.2M+7.6%	$56.9M+5.8%	$53.8M+5.7%	$50.9M+36.6%	$37.2M+12.6%	$33.1M
Operating Income	-$5.8M-153.9%	$10.7M+397.8%	-$3.6M-106.9%	$52.0M+544.7%	$8.1M+70.9%	$4.7M
Interest Expense	$0-100.0%	$21K-25.0%	$28K-66.3%	$83K	N/A	N/A
Income Tax	-$452K-125.9%	$1.7M+6.0%	$1.6M-82.1%	$9.2M+1462.7%	$590K-61.9%	$1.5M
Net Income	-$4.2M-159.8%	$7.1M+249.9%	-$4.7M-113.6%	$34.8M+690.5%	$4.4M+154.8%	-$8.0M
EPS (Diluted)	$-0.11-161.1%	$0.18+238.5%	$-0.13-121.3%	$0.61+454.5%	$0.11+142.3%	$-0.26

Metric	Q2'25	Q2'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	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	N/A	N/A	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	N/A	N/A

ICTSF Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$185.8M-5.7%	$197.1M+6.8%	$184.6M-5.7%	$195.9M+39.5%	$140.4M+13.7%	$123.4M
Current Assets	$161.6M-8.5%	$176.6M+13.6%	$155.5M-10.9%	$174.6M+49.8%	$116.6M+13.0%	$103.1M
Cash & Equivalents	$64.7M+17.1%	$55.2M+8.4%	$50.9M-42.6%	$88.8M+72.0%	$51.6M-1.4%	$52.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$68.3M-3.0%	$70.4M+29.7%	$54.3M-1.4%	$55.1M+60.3%	$34.4M-20.6%	$43.3M
Goodwill	$633K-5.2%	$668K+3.4%	$646K-6.4%	$690K-7.5%	$746K+9.5%	$681K
Total Liabilities	$192.2M-3.8%	$199.7M+2.4%	$195.0M-3.3%	$201.7M+18.0%	$170.9M+7.4%	$159.1M
Current Liabilities	$79.2M-1.6%	$80.5M+17.8%	$68.3M+12.2%	$60.9M+2.6%	$59.3M-21.4%	$75.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$6.4M-146.1%	-$2.6M+74.9%	-$10.4M-77.6%	-$5.8M+80.9%	-$30.5M+14.6%	-$35.7M
Retained Earnings	-$35.7M-13.5%	-$31.4M+18.4%	-$38.5M-14.0%	-$33.8M+50.7%	-$68.6M+6.0%	-$73.0M

Metric	Q2'25	Q2'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Total Assets	$188.4M+1.4%	$185.8M-7.8%	$201.5M+2.2%	$197.1M+6.2%	$185.6M+0.5%	$184.6M-1.0%	$186.5M-4.8%	$195.9M
Current Assets	$164.3M+1.6%	$161.6M-8.8%	$177.3M+0.4%	$176.6M+11.7%	$158.1M+1.7%	$155.5M-6.0%	$165.4M-5.3%	$174.6M
Cash & Equivalents	$36.4M-43.7%	$64.7M+27.2%	$50.9M-7.9%	$55.2M+22.3%	$45.2M-11.4%	$50.9M-37.3%	$81.2M-8.5%	$88.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$86.9M+27.1%	$68.3M-15.5%	$80.8M+14.7%	$70.4M+3.5%	$68.1M+25.4%	$54.3M-3.8%	$56.5M+2.5%	$55.1M
Goodwill	$712K+12.5%	$633K-3.1%	$653K-2.2%	$668K+1.2%	$660K+2.2%	$646K+2.1%	$633K-8.3%	$690K
Total Liabilities	$202.6M+5.4%	$192.2M-7.7%	$208.3M+4.3%	$199.7M+0.9%	$197.9M+1.5%	$195.0M+1.1%	$192.8M-4.4%	$201.7M
Current Liabilities	$93.4M+18.0%	$79.2M-12.2%	$90.1M+12.0%	$80.5M+5.0%	$76.6M+12.2%	$68.3M+10.9%	$61.6M+1.2%	$60.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$14.2M-121.8%	-$6.4M+6.5%	-$6.9M-163.4%	-$2.6M+79.0%	-$12.4M-19.4%	-$10.4M-63.3%	-$6.3M-8.8%	-$5.8M
Retained Earnings	-$43.8M-22.6%	-$35.7M+1.4%	-$36.2M-15.1%	-$31.4M+23.1%	-$40.9M-6.1%	-$38.5M-14.0%	-$33.8M0.0%	-$33.8M

ICTSF Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$9.5M-315.8%	$4.4M+307.9%	-$2.1M-104.0%	$53.4M+120.3%	$24.2M+366.5%	-$9.1M
Capital Expenditures	$1.9M+25.6%	$1.6M-11.2%	$1.7M+21.8%	$1.4M-34.7%	$2.2M+16.6%	$1.9M
Free Cash Flow	-$11.4M-502.4%	$2.8M+173.6%	-$3.9M-107.4%	$51.9M+135.8%	$22.0M+300.8%	-$11.0M
Investing Cash Flow	-$2.1M-239.0%	-$623K+76.8%	-$2.7M-11.2%	-$2.4M+22.3%	-$3.1M+7.3%	-$3.4M
Financing Cash Flow	-$159K-182.4%	$193K+227.0%	-$152K+97.9%	-$7.2M+56.1%	-$16.5M-131.8%	$51.9M
Dividends Paid	$3.2M	$0	$0	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	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

ICTSF Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	14.4%-4.1pp	18.5%-1.1pp	19.6%-15.8pp	35.4%+14.6pp	20.9%+8.0pp	12.8%
Operating Margin	-1.2%-3.7pp	2.5%+3.6pp	-1.1%-17.1pp	16.0%+12.8pp	3.3%+1.8pp	1.4%
Net Margin	-0.9%-2.5pp	1.6%+3.1pp	-1.5%-12.2pp	10.7%+8.9pp	1.8%+4.2pp	-2.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-2.3%-5.9pp	3.6%+6.2pp	-2.6%-20.3pp	17.8%+14.6pp	3.1%+9.7pp	-6.5%
Current Ratio	2.04-0.2	2.19-0.1	2.28-0.6	2.87+0.9	1.96+0.6	1.37
Debt-to-Equity	-30.00+46.7	-76.72-57.9	-18.82+15.8	-34.59-29.0	-5.61-1.1	-4.46
FCF Margin	-2.4%-3.0pp	0.7%+1.9pp	-1.2%-17.2pp	16.0%+7.1pp	8.9%+12.2pp	-3.3%

Metric	Q2'25	Q2'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.76-0.3	2.04+0.1	1.97-0.2	2.19+0.1	2.06-0.2	2.28-0.4	2.68-0.2	2.87
Debt-to-Equity	-14.26+15.7	-30.00+0.4	-30.39+46.3	-76.72-60.7	-16.01+2.8	-18.82+11.6	-30.39+4.2	-34.59
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$6.4M), 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.

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Frequently Asked Questions

What is Icts International Nv's annual revenue?

Icts International Nv (ICTSF) reported $483.3M in total revenue for fiscal year 2024. This represents a 12.0% 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 Icts International Nv's revenue growing?

Icts International Nv (ICTSF) revenue grew by 12% year-over-year, from $431.5M to $483.3M in fiscal year 2024.

Is Icts International Nv profitable?

No, Icts International Nv (ICTSF) reported a net income of -$4.2M in fiscal year 2024, with a net profit margin of -0.9%.

What is Icts International Nv's earnings per share (EPS)?

Icts International Nv (ICTSF) reported diluted earnings per share of $-0.11 for fiscal year 2024. This represents a -161.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Icts International Nv's EBITDA?

Icts International Nv (ICTSF) had EBITDA of -$3.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Icts International Nv's gross margin?

Icts International Nv (ICTSF) had a gross margin of 14.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Icts International Nv's operating margin?

Icts International Nv (ICTSF) had an operating margin of -1.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Icts International Nv's net profit margin?

Icts International Nv (ICTSF) had a net profit margin of -0.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Icts International Nv's free cash flow?

Icts International Nv (ICTSF) generated -$11.4M in free cash flow during fiscal year 2024. This represents a -502.4% 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 Icts International Nv's operating cash flow?

Icts International Nv (ICTSF) generated -$9.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Icts International Nv's total assets?

Icts International Nv (ICTSF) had $185.8M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Icts International Nv's capital expenditures?

Icts International Nv (ICTSF) invested $1.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Icts International Nv spend on research and development?

Icts International Nv (ICTSF) invested $14.4M in research and development during fiscal year 2024.

How many shares does Icts International Nv have outstanding?

Icts International Nv (ICTSF) had 37M shares outstanding as of fiscal year 2024.

What is Icts International Nv's current ratio?

Icts International Nv (ICTSF) had a current ratio of 2.04 as of fiscal year 2024, which is generally considered healthy.

What is Icts International Nv's debt-to-equity ratio?

Icts International Nv (ICTSF) had a debt-to-equity ratio of -30.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Icts International Nv's return on assets (ROA)?

Icts International Nv (ICTSF) had a return on assets of -2.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Icts International Nv's cash runway?

Based on fiscal year 2024 data, Icts International Nv (ICTSF) had $64.7M in cash against an annual operating cash burn of $9.5M. This gives an estimated cash runway of approximately 82 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 Icts International Nv's debt-to-equity ratio negative or unusual?

Icts International Nv (ICTSF) has negative shareholder equity of -$6.4M 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 Icts International Nv's Piotroski F-Score?

Icts International Nv (ICTSF) 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 Icts International Nv's earnings high quality?

Icts International Nv (ICTSF) has an earnings quality ratio of 2.24x, 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.

How financially healthy is Icts International Nv?

Icts International Nv (ICTSF) scores 31 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.