Karbon-X Financials
Karbon-X (KARX) reported $3.2M in revenue for fiscal year 2025, up 667.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
KARX is turning small but rising sales into larger cash losses, making external funding part of the operating model.
FY2025 brought$4.6M of financing cash, yet KARX ended with only$704K of cash. Because operating cash use reached$6.5M while the current ratio fell below 1.0x, new capital is no longer fully offsetting the company’s cash drain, which creates clear short-term liquidity pressure.
Revenue reached
The balance sheet weakened in a specific way: KARX finished FY2025 with negative equity of
Financial Health Signals
Karbon-X does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Karbon-X scores -4.49, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($14.3M) relative to total liabilities ($8.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Karbon-X passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Karbon-X reported a net loss of $7.1M while operations used $6.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Karbon-X reported an operating loss of $6.6M against $339K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Karbon-X generated $3.2M in revenue in fiscal year 2025. This represents an increase of 667.8% from the prior year.
Karbon-X's EBITDA was -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 337.5% from the prior year.
Karbon-X reported -$7.1M in net income in fiscal year 2025. This represents a decrease of 157.0% from the prior year.
Karbon-X earned -$0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Cash & Balance Sheet
Karbon-X recorded an outflow of $6.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 492.0% from the prior year.
Karbon-X held $704K in cash against $0 in long-term debt as of fiscal year 2025, with $7.4M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
Karbon-X's gross margin was 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 11.8 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
Karbon-X invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
KARX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62.4M | $3.2M+667.8% | $412K+4090.6% | $10K | $0 | $0 | $0 | $0 |
| Cost of Revenue | $61.5M | $2.4M+563.4% | $356K+34641.8% | $1K | $0 | N/A | N/A | N/A |
| Gross Profit | $871K | $801K+1332.4% | $56K+535.3% | $9K | $0 | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | $6K+33.0% | $5K+79.5% | $3K |
| Operating Income | -$10.6M | -$6.6M-339.9% | -$1.5M+23.7% | -$2.0M-729.8% | -$239K | N/A | N/A | N/A |
| Interest Expense | -$1.6M | $339K+715.3% | $42K | $0 | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
| Net Income | -$13.1M | -$7.1M-157.0% | -$2.7M-38.1% | -$2.0M-746.8% | -$235K-664.9% | -$31K+15.8% | -$36K-138.4% | -$15K |
| EPS (Diluted) | — | -$0.08-100.0% | -$0.04 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
KARX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $6.8M+70.8% | $4.0M+57.9% | $2.5M+274.5% | $672K | N/A | N/A | N/A |
| Current Assets | $5.8M+85.8% | $3.1M+897.3% | $312K-36.4% | $491K+2312.3% | $20K+4019.8% | $494+814.8% | $54 |
| Cash & Equivalents | $704K-73.7% | $2.7M+1193.6% | $207K-56.7% | $477K | $0-100.0% | $494+814.8% | $54 |
| Inventory | $100K-68.5% | $317K+292.2% | $81K | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2K-98.5% | $120K | $0 | $0 | N/A | N/A | N/A |
| Total Liabilities | $8.1M+613.4% | $1.1M+357.1% | $250K+640.9% | $34K | N/A | N/A | N/A |
| Current Liabilities | $7.4M+785.8% | $840K+331.8% | $194K+476.6% | $34K-60.6% | $86K+144.2% | $35K+168.5% | $13K |
| Long-Term Debt | $0 | $0 | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.4M-148.4% | $2.8M+24.9% | $2.3M+255.1% | $638K | $0-100.0% | $35K+365.8% | -$13K |
| Retained Earnings | -$12.0M-142.9% | -$4.9M-125.2% | -$2.2M-973.4% | -$204K-142.7% | -$84K-57.4% | -$53K-214.4% | -$17K |
Not reported in any period shown, so not listed: Goodwill.
KARX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.7M | -$6.5M-491.8% | -$1.1M+26.1% | -$1.5M-704.5% | -$185K-129890.8% | -$142+99.0% | -$15K-273.7% | -$4K |
| Capital Expenditures | N/A | $3K | $0-100.0% | $7K+117.0% | $3K | N/A | N/A | N/A |
| Free Cash Flow | N/A | -$6.5M-492.0% | -$1.1M+26.4% | -$1.5M-694.4% | -$188K | N/A | N/A | N/A |
| Investing Cash Flow | -$2.3M | -$8K+99.0% | -$802K-6.9% | -$751K-316.9% | -$180K | $0 | $0 | $0 |
| Financing Cash Flow | $11.9M | $4.6M+4.7% | $4.4M+122.8% | $2.0M+128.8% | $855K | $0-100.0% | $15K | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $10 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
KARX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3%+11.8pp | 13.6%-76.0pp | 89.6% | N/A | N/A | N/A | N/A |
| Operating Margin | -210.1% | -366.7% | -20146.7% | N/A | N/A | N/A | N/A |
| Net Margin | -222.9% | -666.1% | -20216.4% | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | -97.0%-9.3pp | -87.8%-51.0pp | -36.8% | N/A | -105.5% | N/A |
| Return on Assets | -104.0%-34.9pp | -69.1%+9.9pp | -79.0%-44.1pp | -34.9% | N/A | N/A | N/A |
| Current Ratio | 0.78-2.9x | 3.71+2.1x | 1.61-13.0x | 14.56+14.3x | 0.24+0.2x | 0.010.0x | 0.00 |
| Debt-to-Equity | N/A | 0.00-0.1x | 0.11+0.1x | 0.05 | N/A | N/A | N/A |
| FCF Margin | -205.5% | -266.5% | -15174.7% | N/A | N/A | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$1.4M), 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.
Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Karbon-X Ranks
Frequently Asked Questions
What is Karbon-X's annual revenue?
Karbon-X (KARX) reported $3.2M in total revenue for fiscal year 2025. This represents a 667.8% 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 Karbon-X's revenue growing?
Karbon-X (KARX) revenue grew by 667.8% year-over-year, from $412K to $3.2M in fiscal year 2025.
Is Karbon-X profitable?
No, Karbon-X (KARX) reported a net income of -$7.1M in fiscal year 2025.
What is Karbon-X's EBITDA?
Karbon-X (KARX) had EBITDA of -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Karbon-X have?
As of fiscal year 2025, Karbon-X (KARX) had $704K in cash and equivalents against $0 in long-term debt.
What is Karbon-X's gross margin?
Karbon-X (KARX) had a gross margin of 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Karbon-X's free cash flow?
Karbon-X (KARX) recorded an outflow of $6.5M in free cash flow during fiscal year 2025. This represents a -492.0% 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 Karbon-X's operating cash flow?
Karbon-X (KARX) recorded an outflow of $6.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Karbon-X's total assets?
Karbon-X (KARX) had $6.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Karbon-X's capital expenditures?
Karbon-X (KARX) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Karbon-X's current ratio?
Karbon-X (KARX) had a current ratio of 0.78 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Karbon-X's return on assets (ROA)?
Karbon-X (KARX) had a return on assets of -104.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Karbon-X's debt-to-equity ratio negative or not reported?
Karbon-X (KARX) has negative shareholder equity of -$1.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Karbon-X's Altman Z-Score?
Karbon-X (KARX) has an Altman Z-Score of -4.49, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Karbon-X's Piotroski F-Score?
Karbon-X (KARX) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Karbon-X's earnings high quality?
Karbon-X (KARX) reported a net loss of $7.1M while operations used $6.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Karbon-X cover its interest payments?
Karbon-X (KARX) reported an operating loss of $6.6M against $339K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.