Igen Networks Corp Financials
This page shows Igen Networks Corp (IGEN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).
Tiny revenue leaves the business operating as a financing-dependent enterprise, where outside cash rather than customers has funded recurring losses.
From FY2020 through FY2022, operating cash burn stayed close to$1.0M a year, while financing inflows were of similar size, which means the company was replacing cash consumption with new capital rather than replenishing it through operations. That dependence lines up with shares outstanding rising from 1.19B to 1.89B over the same span, a sign that balance-sheet support came with dilution instead of operating scale.
In FY2022, gross margin turned negative at
The balance sheet is dominated by non-cash assets: goodwill alone was
Financial Health Signals
Based on FY2022 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 Igen Networks Corp'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.
Igen Networks Corp has an operating margin of -305.8%, meaning the company retains $-306 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 up from -1244.1% the prior year.
Igen Networks Corp's revenue surged 18.2% year-over-year to $318K, reflecting rapid business expansion. This strong growth earns a score of 22/100.
Igen Networks Corp carries a low D/E ratio of -0.81, meaning only $-0.81 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
Igen Networks Corp'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.
Igen Networks Corp 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.
For every $1 of reported earnings, Igen Networks Corp generates $1.08 in operating cash flow (-$978K OCF vs -$908K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Igen Networks Corp earns $-6.4 in operating income for every $1 of interest expense (-$972K vs $152K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Igen Networks Corp generated $318K in revenue in fiscal year 2022. This represents an increase of 18.2% from the prior year.
Igen Networks Corp reported -$908K in net income in fiscal year 2022. This represents an increase of 73.5% from the prior year.
Cash & Balance Sheet
Igen Networks Corp held $0 in cash against $794K in long-term debt as of fiscal year 2022.
Igen Networks Corp had 1.89B shares outstanding in fiscal year 2022. This represents an increase of 28.0% from the prior year.
Margins & Returns
Igen Networks Corp's gross margin was -1.4% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 55.4 percentage points from the prior year.
Igen Networks Corp's operating margin was -305.8% in fiscal year 2022, reflecting core business profitability. This is up 938.3 percentage points from the prior year.
Igen Networks Corp's net profit margin was -285.4% in fiscal year 2022, showing the share of revenue converted to profit. This is up 989.6 percentage points from the prior year.
Capital Allocation
IGEN Income Statement
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $48K+32.2% | $36K-23.3% | $47K-2.1% | $48K-63.4% | $132K+43.1% | $92K+98.8% | $46K-3.6% | $48K |
| Cost of Revenue | $17K-36.3% | $27K-1.6% | $27K-50.2% | $55K-66.1% | $161K+75.1% | $92K+535.4% | $14K+135.8% | -$40K |
| Gross Profit | $31K+226.9% | $9K-52.8% | $20K+406.4% | -$7K+78.0% | -$30K-23830.6% | -$124-100.4% | $32K-64.1% | $88K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $26K-73.1% | $98K+13.6% | $86K+10.3% | $78K-42.2% | $136K-8.9% | $149K+289.5% | $38K-2.4% | $39K |
| Operating Income | -$75K | N/A | -$115K+44.2% | -$205K+42.1% | -$355K-55.6% | -$228K-23.9% | -$184K+92.2% | -$2.4M |
| Interest Expense | $46K+14.0% | $40K-14.4% | $47K-29.7% | $66K+125.6% | $29K-26.3% | $40K+145.8% | $16K+121.5% | $7K |
| Income Tax | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
| Net Income | -$178K | N/A | -$117K+68.5% | -$371K-2.7% | -$361K-3512.3% | $11K+105.7% | -$186K+92.5% | -$2.5M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
IGEN Balance Sheet
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $33K-1.9% | $34K-94.3% | $593K-3.9% | $616K-13.5% | $712K-14.0% | $828K-0.9% | $836K+9.7% | $762K |
| Current Assets | $33K-1.9% | $34K-1.6% | $34K-33.7% | $52K-63.4% | $142K-43.6% | $252K-0.7% | $254K+45.7% | $174K |
| Cash & Equivalents | $0 | $0 | $0 | $0-100.0% | $84K+56.4% | $53K+51.0% | $35K-45.1% | $64K |
| Inventory | $33K-1.6% | $34K0.0% | $34K+12.4% | $30K-37.4% | $48K-64.8% | $137K-27.6% | $189K+165.5% | $71K |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $0 | $0-100.0% | $506K0.0% | $506K0.0% | $506K0.0% | $506K0.0% | $506K0.0% | $506K |
| Total Liabilities | $1.5M+2.5% | $1.4M+0.1% | $1.4M-9.3% | $1.6M+1.6% | $1.6M+10.7% | $1.4M-6.6% | $1.5M+10.7% | $1.4M |
| Current Liabilities | $1.2M+6.7% | $1.2M-2.4% | $1.2M+1.0% | $1.2M+15.9% | $1.0M-0.1% | $1.0M-11.4% | $1.2M+6.7% | $1.1M |
| Long-Term Debt | $944K+8.0% | $874K+947.8% | $83K-89.5% | $794K+9.5% | $726K+10.3% | $658K+15.5% | $570K+45.8% | $391K |
| Total Equity | -$1.4M-2.6% | -$1.4M-47.7% | -$956K+2.2% | -$978K-14.1% | -$857K-14.8% | -$747K+6.0% | -$794K-14.5% | -$694K |
| Retained Earnings | -$21.2M-1.0% | -$21.0M-3.3% | -$20.3M-0.9% | -$20.2M-2.2% | -$19.7M-1.9% | -$19.4M-0.1% | -$19.4M-1.5% | -$19.1M |
IGEN Cash Flow Statement
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$26K-48.6% | -$18K+79.7% | -$86K+65.1% | -$247K-16.9% | -$212K+1.9% | -$216K+28.9% | -$303K-72.0% | -$176K |
| 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 | $26K+48.6% | $18K-79.7% | $86K-47.3% | $164K-32.2% | $242K+3.4% | $234K-14.8% | $274K+49.6% | $183K |
| Dividends Paid | $21K+822.1% | $2K-91.7% | $28K | N/A | $22K+225.5% | $7K-90.1% | $69K | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
IGEN Financial Ratios
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3%+38.3pp | 26.0%-16.3pp | 42.3%+55.8pp | -13.5%+9.0pp | -22.6%-22.4pp | -0.1%-68.8pp | 68.7%-115.7pp | 184.4% |
| Operating Margin | -156.5% | N/A | -242.8%+183.5pp | -426.3%-156.6pp | -269.7%-21.8pp | -247.9%+150.0pp | -397.8%+4545.6pp | -4943.4% |
| Net Margin | -372.1% | N/A | -247.4%+522.2pp | -769.6%-495.1pp | -274.4%-285.9pp | 11.5%+413.8pp | -402.3%+4783.5pp | -5185.8% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -534.5% | N/A | -19.7%+40.5pp | -60.2%-9.5pp | -50.7%-52.0pp | 1.3%+23.5pp | -22.3%+304.3pp | -326.6% |
| Current Ratio | 0.030.0 | 0.030.0 | 0.03-0.0 | 0.04-0.1 | 0.14-0.1 | 0.25+0.0 | 0.22+0.1 | 0.16 |
| Debt-to-Equity | -0.65-0.0 | -0.62-0.5 | -0.09+0.7 | -0.81+0.0 | -0.85+0.0 | -0.88-0.2 | -0.72-0.2 | -0.56 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$978K), 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 Igen Networks Corp's annual revenue?
Igen Networks Corp (IGEN) reported $318K in total revenue for fiscal year 2022. This represents a 18.2% 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 Igen Networks Corp's revenue growing?
Igen Networks Corp (IGEN) revenue grew by 18.2% year-over-year, from $269K to $318K in fiscal year 2022.
Is Igen Networks Corp profitable?
No, Igen Networks Corp (IGEN) reported a net income of -$908K in fiscal year 2022, with a net profit margin of -285.4%.
How much debt does Igen Networks Corp have?
As of fiscal year 2022, Igen Networks Corp (IGEN) had $0 in cash and equivalents against $794K in long-term debt.
What is Igen Networks Corp's gross margin?
Igen Networks Corp (IGEN) had a gross margin of -1.4% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
What is Igen Networks Corp's operating margin?
Igen Networks Corp (IGEN) had an operating margin of -305.8% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.
What is Igen Networks Corp's net profit margin?
Igen Networks Corp (IGEN) had a net profit margin of -285.4% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.
What is Igen Networks Corp's operating cash flow?
Igen Networks Corp (IGEN) generated -$978K in operating cash flow during fiscal year 2022, representing cash generated from core business activities.
What are Igen Networks Corp's total assets?
Igen Networks Corp (IGEN) had $616K in total assets as of fiscal year 2022, including both current and long-term assets.
What is Igen Networks Corp's current ratio?
Igen Networks Corp (IGEN) had a current ratio of 0.04 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.
What is Igen Networks Corp's debt-to-equity ratio?
Igen Networks Corp (IGEN) had a debt-to-equity ratio of -0.81 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Igen Networks Corp's return on assets (ROA)?
Igen Networks Corp (IGEN) had a return on assets of -147.3% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
What is Igen Networks Corp's cash runway?
Based on fiscal year 2022 data, Igen Networks Corp (IGEN) had $0 in cash against an annual operating cash burn of $978K. 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 Igen Networks Corp's debt-to-equity ratio negative or unusual?
Igen Networks Corp (IGEN) has negative shareholder equity of -$978K as of fiscal year 2022, 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 Igen Networks Corp's Piotroski F-Score?
Igen Networks Corp (IGEN) 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.
Are Igen Networks Corp's earnings high quality?
Igen Networks Corp (IGEN) has an earnings quality ratio of 1.08x, 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 Igen Networks Corp cover its interest payments?
Igen Networks Corp (IGEN) has an interest coverage ratio of -6.4x, 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 Igen Networks Corp?
Igen Networks Corp (IGEN) scores 18 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.