Item 9 Labs Financials
This page shows Item 9 Labs (INLB) 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).
Financial Health Signals
Based on FY2022 annual data. Scores normalized against common benchmarks. How we calculate these scores
Item 9 Labs has an operating margin of -106.0%, meaning the company retains $-106 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 -25.5% the prior year.
Item 9 Labs's revenue declined 0.8% year-over-year, from $21.9M to $21.8M. This contraction results in a growth score of 26/100.
Item 9 Labs carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Item 9 Labs's current ratio of 0.09 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
While Item 9 Labs generated -$2.3M in operating cash flow, capex of $4.3M consumed most of it, leaving -$6.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Item 9 Labs passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Item 9 Labs generates $0.07 in operating cash flow (-$2.3M OCF vs -$31.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Item 9 Labs earns $-3.6 in operating income for every $1 of interest expense (-$23.1M vs $6.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Item 9 Labs generated $21.8M in revenue in fiscal year 2022. This represents a decrease of 0.8% from the prior year.
Item 9 Labs's EBITDA was -$21.5M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 375.2% from the prior year.
Item 9 Labs generated -$6.6M in free cash flow in fiscal year 2022, representing cash available after capex. This represents an increase of 20.0% from the prior year.
Item 9 Labs reported -$31.2M in net income in fiscal year 2022. This represents a decrease of 185.9% from the prior year.
Item 9 Labs earned $-0.33 per diluted share (EPS) in fiscal year 2022. This represents a decrease of 135.7% from the prior year.
Item 9 Labs held $86K in cash against $7.2M in long-term debt as of fiscal year 2022.
Item 9 Labs had 96M shares outstanding in fiscal year 2022. This represents an increase of 1.6% from the prior year.
Item 9 Labs's gross margin was 33.6% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.
Item 9 Labs's operating margin was -106.0% in fiscal year 2022, reflecting core business profitability. This is down 80.5 percentage points from the prior year.
Item 9 Labs's net profit margin was -143.3% in fiscal year 2022, showing the share of revenue converted to profit. This is down 93.6 percentage points from the prior year.
Item 9 Labs invested $4.3M in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents an increase of 93.0% from the prior year.
INLB Income Statement
| Metric | Q3'23 | Q2'23 | Q1'22 | Q3'22 | Q2'22 | Q1'21 | Q3'21 | Q2'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.0M-11.3% | $5.7M+13.2% | $5.0M+1.5% | $4.9M-25.7% | $6.6M+7.3% | $6.2M-7.6% | $6.7M+9.5% | $6.1M |
| Cost of Revenue | $2.2M+13.3% | $1.9M-18.4% | $2.4M-28.7% | $3.3M-15.6% | $4.0M+4.6% | $3.8M-0.4% | $3.8M+21.8% | $3.1M |
| Gross Profit | $2.8M-24.2% | $3.7M+41.8% | $2.6M+64.9% | $1.6M-40.6% | $2.7M+11.6% | $2.4M-17.0% | $2.9M-3.3% | $3.0M |
| 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 | -$3.0M-128.9% | -$1.3M+18.3% | -$1.6M+58.8% | -$3.8M-38.8% | -$2.8M-29.9% | -$2.1M-763.3% | -$247K-147.8% | $517K |
| Interest Expense | $3.0M+40.0% | $2.1M+26.8% | $1.7M+2.3% | $1.6M+48.1% | $1.1M-9.3% | $1.2M+92.3% | $629K+34.3% | $468K |
| Income Tax | -$1K-139.7% | $4K-3.2% | $4K-19.1% | $5K+39.1% | $3K | N/A | N/A | N/A |
| Net Income | -$5.9M-73.6% | -$3.4M-4.9% | -$3.2M+40.7% | -$5.5M-41.4% | -$3.9M-15.8% | -$3.3M-301.1% | -$834K-1801.2% | $49K |
| EPS (Diluted) | $-0.06-100.0% | $-0.030.0% | $-0.03+50.0% | $-0.06-50.0% | $-0.040.0% | $-0.04-300.0% | $-0.01 | $0.00 |
INLB Balance Sheet
| Metric | Q3'23 | Q2'23 | Q1'22 | Q3'22 | Q2'22 | Q1'21 | Q3'21 | Q2'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $112.0M-1.8% | $114.1M-0.5% | $114.7M+3.5% | $110.8M-8.4% | $120.9M+3.3% | $117.0M+0.2% | $116.8M-23.7% | $153.1M |
| Current Assets | $3.3M-9.1% | $3.7M+29.3% | $2.8M-19.9% | $3.6M-48.4% | $6.9M-17.9% | $8.4M-16.9% | $10.1M-28.6% | $14.1M |
| Cash & Equivalents | $183K+81.3% | $101K+364.4% | $22K-74.6% | $86K0.0% | $86K-46.7% | $161K-89.0% | $1.5M-66.2% | $4.3M |
| Inventory | $1.9M-28.1% | $2.6M+36.3% | $1.9M-21.4% | $2.5M-48.9% | $4.8M-8.3% | $5.3M-17.8% | $6.4M | N/A |
| Accounts Receivable | $968K+62.5% | $596K-1.1% | $602K+2.7% | $586K-50.2% | $1.2M-27.5% | $1.6M+12.0% | $1.4M-43.6% | $2.6M |
| Goodwill | $58.1M-0.3% | $58.2M0.0% | $58.2M0.0% | $58.2M0.0% | $58.2M+0.3% | $58.1M0.0% | $58.1M+5101.1% | $1.1M |
| Total Liabilities | $59.4M+5.2% | $56.4M+3.9% | $54.3M+11.2% | $48.8M+28.1% | $38.1M+17.0% | $32.6M+6.0% | $30.7M+105.0% | $15.0M |
| Current Liabilities | $58.8M+24.8% | $47.1M+1.2% | $46.6M+14.8% | $40.6M+14.0% | $35.6M+126.2% | $15.7M+5.0% | $15.0M+23.6% | $12.1M |
| Long-Term Debt | N/A | $7.2M+9.6% | $6.6M-8.4% | $7.2M+338.7% | $1.6M-89.9% | $16.3M+8.7% | $15.0M | N/A |
| Total Equity | $52.6M-8.7% | $57.7M-4.4% | $60.4M-2.6% | $62.0M-25.1% | $82.7M-2.0% | $84.5M-1.9% | $86.1M-37.7% | $138.2M |
| Retained Earnings | -$77.6M-8.2% | -$71.7M-5.0% | -$68.3M-5.0% | -$65.0M-58.2% | -$41.1M-10.4% | -$37.2M-9.9% | -$33.9M-41.2% | -$24.0M |
INLB Cash Flow Statement
| Metric | Q3'23 | Q2'23 | Q1'22 | Q3'22 | Q2'22 | Q1'21 | Q3'21 | Q2'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $150K | N/A | N/A | -$238K-137.1% | $642K+339.6% | -$268K-130.2% | $888K+134.9% | -$2.5M |
| Capital Expenditures | $63K | N/A | N/A | $1.4M+89.7% | $743K-70.2% | $2.5M+11872.9% | -$21K-108.8% | $240K |
| Free Cash Flow | $87K | N/A | N/A | -$1.6M-1528.0% | -$101K+96.3% | -$2.8M-418.5% | $867K+131.1% | -$2.8M |
| Investing Cash Flow | -$63K | N/A | N/A | -$1.4M+46.0% | -$2.6M-78.8% | -$1.4M-2079.9% | -$66K+94.2% | -$1.1M |
| Financing Cash Flow | -$5K | N/A | N/A | $1.3M-32.2% | $1.9M+354.2% | $413K+23.0% | $336K-94.7% | $6.4M |
| 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 |
INLB Financial Ratios
| Metric | Q3'23 | Q2'23 | Q1'22 | Q3'22 | Q2'22 | Q1'21 | Q3'21 | Q2'21 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.1%-9.5pp | 65.7%+13.3pp | 52.4%+20.2pp | 32.2%-8.1pp | 40.3%+1.6pp | 38.8%-4.4pp | 43.2%-5.7pp | 48.9% |
| Operating Margin | -59.1%-36.2pp | -22.9%+8.8pp | -31.7%+46.3pp | -78.0%-36.3pp | -41.8%-7.3pp | -34.5%-30.8pp | -3.7%-12.2pp | 8.5% |
| Net Margin | -117.8%-57.6pp | -60.2%+4.7pp | -64.9%+46.2pp | -111.1%-52.7pp | -58.3%-4.3pp | -54.1%-41.6pp | -12.5%-13.3pp | 0.8% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Return on Assets | -5.3%-2.3pp | -3.0%-0.2pp | -2.8%+1.7pp | -4.5%-1.3pp | -3.2%-0.3pp | -2.9%-2.3pp | -0.6%-0.6pp | 0.0% |
| Current Ratio | 0.06-0.0 | 0.08+0.0 | 0.06-0.0 | 0.09-0.1 | 0.19-0.3 | 0.53-0.1 | 0.67-0.5 | 1.17 |
| Debt-to-Equity | 1.13+1.0 | 0.13+0.0 | 0.110.0 | 0.12+0.1 | 0.02-0.2 | 0.19+0.0 | 0.17+0.1 | 0.11 |
| FCF Margin | 1.7% | N/A | N/A | -27.2%-25.7pp | -1.5%+43.1pp | -44.6%+14.0pp | -58.6%-13.0pp | -45.6% |
Note: The current ratio is below 1.0 (0.09), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Item 9 Labs's annual revenue?
Item 9 Labs (INLB) reported $21.8M in total revenue for fiscal year 2022. This represents a -0.8% 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 Item 9 Labs's revenue growing?
Item 9 Labs (INLB) revenue declined by 0.8% year-over-year, from $21.9M to $21.8M in fiscal year 2022.
Is Item 9 Labs profitable?
No, Item 9 Labs (INLB) reported a net income of -$31.2M in fiscal year 2022, with a net profit margin of -143.3%.
What is Item 9 Labs's earnings per share (EPS)?
Item 9 Labs (INLB) reported diluted earnings per share of $-0.33 for fiscal year 2022. This represents a -135.7% 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 Item 9 Labs's EBITDA?
Item 9 Labs (INLB) had EBITDA of -$21.5M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Item 9 Labs have?
As of fiscal year 2022, Item 9 Labs (INLB) had $86K in cash and equivalents against $7.2M in long-term debt.
What is Item 9 Labs's gross margin?
Item 9 Labs (INLB) had a gross margin of 33.6% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
What is Item 9 Labs's operating margin?
Item 9 Labs (INLB) had an operating margin of -106.0% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.
What is Item 9 Labs's net profit margin?
Item 9 Labs (INLB) had a net profit margin of -143.3% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.
What is Item 9 Labs's free cash flow?
Item 9 Labs (INLB) generated -$6.6M in free cash flow during fiscal year 2022. This represents a 20.0% 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 Item 9 Labs's operating cash flow?
Item 9 Labs (INLB) generated -$2.3M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.
What are Item 9 Labs's total assets?
Item 9 Labs (INLB) had $110.8M in total assets as of fiscal year 2022, including both current and long-term assets.
What are Item 9 Labs's capital expenditures?
Item 9 Labs (INLB) invested $4.3M in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
How many shares does Item 9 Labs have outstanding?
Item 9 Labs (INLB) had 96M shares outstanding as of fiscal year 2022.
What is Item 9 Labs's current ratio?
Item 9 Labs (INLB) had a current ratio of 0.09 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.
What is Item 9 Labs's debt-to-equity ratio?
Item 9 Labs (INLB) had a debt-to-equity ratio of 0.12 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Item 9 Labs's return on assets (ROA)?
Item 9 Labs (INLB) had a return on assets of -28.1% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
What is Item 9 Labs's cash runway?
Based on fiscal year 2022 data, Item 9 Labs (INLB) had $86K in cash against an annual operating cash burn of $2.3M. 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.
What is Item 9 Labs's Piotroski F-Score?
Item 9 Labs (INLB) has a Piotroski F-Score of 3 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 Item 9 Labs's earnings high quality?
Item 9 Labs (INLB) has an earnings quality ratio of 0.07x, 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 Item 9 Labs cover its interest payments?
Item 9 Labs (INLB) has an interest coverage ratio of -3.6x, 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 Item 9 Labs?
Item 9 Labs (INLB) scores 25 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.