Metalpha Tech Financials

MATH

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2021 Currency USD FYE March

This page shows Metalpha Tech (MATH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 63/100

Based on FY2021 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Metalpha Tech has an operating margin of -1743.1%, meaning the company retains $-1743 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 -18832.5% the prior year.

Growth

100

Metalpha Tech's revenue surged 1906.3% year-over-year to $226K, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Metalpha Tech carries a low D/E ratio of 0.77, meaning only $0.77 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.20, Metalpha Tech holds $2.20 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 68/100.

Piotroski F-Score Weak

2/9

Metalpha Tech 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

0.54x

For every $1 of reported earnings, Metalpha Tech generates $0.54 in operating cash flow (-$2.8M OCF vs -$5.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-2.4x

Metalpha Tech earns $-2.4 in operating income for every $1 of interest expense (-$3.9M vs $1.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$226K

YoY+1906.3%

5Y CAGR-32.9%

Metalpha Tech generated $226K in revenue in fiscal year 2021. This represents an increase of 1906.3% from the prior year.

EBITDA

-$3.9M

YoY-89.8%

Metalpha Tech's EBITDA was -$3.9M in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 89.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$5.1M

YoY-263.4%

Metalpha Tech reported -$5.1M in net income in fiscal year 2021. This represents a decrease of 263.4% from the prior year.

EPS (Diluted)

$-0.44

YoY-266.7%

Metalpha Tech earned $-0.44 per diluted share (EPS) in fiscal year 2021. This represents a decrease of 266.7% from the prior year.

Cash & Debt

$983K

YoY+6069.4%

5Y CAGR+230.8%

Metalpha Tech held $983K in cash against $0 in long-term debt as of fiscal year 2021.

Dividends Per Share

N/A

Shares Outstanding

13M

YoY+16.1%

Metalpha Tech had 13M shares outstanding in fiscal year 2021. This represents an increase of 16.1% from the prior year.

Gross Margin

N/A

Operating Margin

-1743.1%

YoY+17089.4pp

5Y CAGR-1783.9pp

Metalpha Tech's operating margin was -1743.1% in fiscal year 2021, reflecting core business profitability. This is up 17089.4 percentage points from the prior year.

Net Margin

-2280.5%

YoY+10310.4pp

5Y CAGR-2319.7pp

Metalpha Tech's net profit margin was -2280.5% in fiscal year 2021, showing the share of revenue converted to profit. This is up 10310.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

MATH Income Statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Revenue	$226K+1906.3%	$11K-99.6%	$2.8M-35.6%	$4.3M+19.2%	$3.6M+116.0%	$1.7M
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	$4.2M+95.3%	$2.1M-57.3%	$5.0M+28.2%	$3.9M+147.3%	$1.6M+60.1%	$984K
Operating Income	-$3.9M-85.7%	-$2.1M+5.2%	-$2.2M-681.9%	$384K-80.9%	$2.0M+196.9%	$679K
Interest Expense	$1.6M+53562800.0%	$3-97.7%	$133	N/A	N/A	$62K
Income Tax	N/A	$27K	N/A	$634K+36.5%	$464K+181.7%	$165K
Net Income	-$5.1M-263.4%	-$1.4M-34.1%	-$1.1M-647.0%	$193K-88.7%	$1.7M+162.5%	$653K
EPS (Diluted)	$-0.44-266.7%	$-0.12-33.3%	$-0.09-550.0%	$0.02-88.2%	$0.17+142.9%	$0.07

Metric	Q2'21	Q2'20	Q1'20	Q2'19	Q1'19	Q1'18	Q2'17	Q1'17
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

MATH Balance Sheet

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Total Assets	$15.6M+56.9%	$10.0M-19.1%	$12.3M-5.4%	$13.0M+209.0%	$4.2M	N/A
Current Assets	$15.5M+59.4%	$9.7M-17.8%	$11.8M+0.5%	$11.8M+190.9%	$4.1M	N/A
Cash & Equivalents	$983K+6069.4%	$16K-58.7%	$39K-99.0%	$3.9M+22.2%	$3.2M+129833.9%	$2K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$1.7M+7.2%	$1.6M+139.1%	$674K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.1M+173.2%	$2.6M-13.5%	$3.0M+48.1%	$2.0M+70.0%	$1.2M	N/A
Current Liabilities	$7.1M+172.9%	$2.6M-11.6%	$2.9M+44.8%	$2.0M+70.0%	$1.2M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.2M+15.7%	$7.9M-15.0%	$9.3M-15.2%	$11.0M+263.8%	$3.0M+107.9%	$1.5M
Retained Earnings	-$5.9M-683.7%	-$753K-213.5%	$664K-64.6%	$1.9M-8.5%	$2.1M	N/A

Metric	Q2'21	Q2'20	Q1'20	Q2'19	Q1'19	Q1'18	Q2'17	Q1'17
Total Assets	$12.7M+44.3%	$8.8M-12.0%	$10.0M-8.5%	$10.9M-11.6%	$12.3M-5.4%	$13.0M+1.2%	$12.9M+205.4%	$4.2M
Current Assets	$11.9M+38.2%	$8.6M-11.7%	$9.7M-7.4%	$10.5M-11.2%	$11.8M+0.5%	$11.8M-7.5%	$12.7M+214.5%	$4.1M
Cash & Equivalents	$1.8M+1052.6%	$154K+867.3%	$16K+17.4%	$14K-64.9%	$39K-99.0%	$3.9M-53.9%	$8.5M+165.2%	$3.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$940K-45.6%	$1.7M+7.2%	$1.6M-13.2%	$1.9M+175.4%	$674K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.7M+56.5%	$2.4M-8.8%	$2.6M+12.7%	$2.3M-23.3%	$3.0M+48.1%	$2.0M+36.3%	$1.5M+24.7%	$1.2M
Current Liabilities	$3.4M+47.4%	$2.3M-9.9%	$2.6M+13.9%	$2.3M-22.4%	$2.9M+44.8%	$2.0M+36.3%	$1.5M+24.7%	$1.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.5M+36.8%	$7.0M-12.0%	$7.9M-7.7%	$8.6M-7.8%	$9.3M-15.2%	$11.0M-3.4%	$11.4M+276.6%	$3.0M
Retained Earnings	-$13.3M-569.9%	-$2.0M-163.6%	-$753K-233.1%	$566K-14.8%	$664K-64.6%	$1.9M-23.2%	$2.4M+19.1%	$2.1M

MATH Cash Flow Statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Operating Cash Flow	-$2.8M-241.6%	-$815K-205.3%	$774K+176.5%	-$1.0M-137.8%	$2.7M+6295.6%	-$43K
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	$879K+1131.4%	$71K+101.5%	-$4.8M+23.3%	-$6.3M-886.9%	$797K+292.6%	-$414K
Financing Cash Flow	$3.1M+936.2%	$299K+14.9%	$260K-96.7%	$7.9M+4710.6%	-$171K-141.3%	$415K
Dividends Paid	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

Metric	Q2'21	Q2'20	Q1'20	Q2'19	Q1'19	Q1'18	Q2'17	Q1'17
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

MATH Financial Ratios

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1743.1%+17089.4pp	-18832.5%-18751.4pp	-81.0%-90.0pp	9.0%-47.2pp	56.1%+15.3pp	40.8%
Net Margin	-2280.5%+10310.4pp	-12590.8%-12552.5pp	-38.3%-42.8pp	4.5%-43.2pp	47.7%+8.5pp	39.3%
Return on Equity	N/A	N/A	N/A	1.8%-55.0pp	56.7%+11.8pp	44.9%
Return on Assets	-32.9%-18.7pp	-14.2%-5.6pp	-8.6%-10.1pp	1.5%-39.2pp	40.7%	N/A
Current Ratio	2.20-1.6	3.76-0.3	4.04-1.8	5.83+2.4	3.40	N/A
Debt-to-Equity	0.77+0.4	0.330.0	0.32+0.1	0.18-0.2	0.39	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'21	Q2'20	Q1'20	Q2'19	Q1'19	Q1'18	Q2'17	Q1'17
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	3.45-0.2	3.68-0.1	3.76-0.9	4.63+0.6	4.04-1.8	5.83-2.8	8.58+5.2	3.40
Debt-to-Equity	0.39+0.0	0.34+0.0	0.33+0.1	0.27-0.1	0.32+0.1	0.18+0.1	0.13-0.3	0.39
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Metalpha Tech's annual revenue?

Metalpha Tech (MATH) reported $226K in total revenue for fiscal year 2021. This represents a 1906.3% 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 Metalpha Tech's revenue growing?

Metalpha Tech (MATH) revenue grew by 1906.3% year-over-year, from $11K to $226K in fiscal year 2021.

Is Metalpha Tech profitable?

No, Metalpha Tech (MATH) reported a net income of -$5.1M in fiscal year 2021, with a net profit margin of -2280.5%.

What is Metalpha Tech's earnings per share (EPS)?

Metalpha Tech (MATH) reported diluted earnings per share of $-0.44 for fiscal year 2021. This represents a -266.7% 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 Metalpha Tech's EBITDA?

Metalpha Tech (MATH) had EBITDA of -$3.9M in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization.

What is Metalpha Tech's operating margin?

Metalpha Tech (MATH) had an operating margin of -1743.1% in fiscal year 2021, reflecting the profitability of core business operations before interest and taxes.

What is Metalpha Tech's net profit margin?

Metalpha Tech (MATH) had a net profit margin of -2280.5% in fiscal year 2021, representing the share of revenue converted into profit after all expenses.

What is Metalpha Tech's operating cash flow?

Metalpha Tech (MATH) generated -$2.8M in operating cash flow during fiscal year 2021, representing cash generated from core business activities.

What are Metalpha Tech's total assets?

Metalpha Tech (MATH) had $15.6M in total assets as of fiscal year 2021, including both current and long-term assets.

How many shares does Metalpha Tech have outstanding?

Metalpha Tech (MATH) had 13M shares outstanding as of fiscal year 2021.

What is Metalpha Tech's current ratio?

Metalpha Tech (MATH) had a current ratio of 2.20 as of fiscal year 2021, which is generally considered healthy.

What is Metalpha Tech's debt-to-equity ratio?

Metalpha Tech (MATH) had a debt-to-equity ratio of 0.77 as of fiscal year 2021, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Metalpha Tech's return on assets (ROA)?

Metalpha Tech (MATH) had a return on assets of -32.9% for fiscal year 2021, measuring how efficiently the company uses its assets to generate profit.

What is Metalpha Tech's cash runway?

Based on fiscal year 2021 data, Metalpha Tech (MATH) had $983K in cash against an annual operating cash burn of $2.8M. 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.

What is Metalpha Tech's Piotroski F-Score?

Metalpha Tech (MATH) 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 Metalpha Tech's earnings high quality?

Metalpha Tech (MATH) has an earnings quality ratio of 0.54x, 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 Metalpha Tech cover its interest payments?

Metalpha Tech (MATH) has an interest coverage ratio of -2.4x, 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 Metalpha Tech?

Metalpha Tech (MATH) scores 63 out of 100 on our Financial Profile, indicating moderate 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.