MDB Capital Holdings LLC Financials

MDBH

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows MDB Capital Holdings LLC (MDBH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).

Rhea AI MDBH FY2025 2026-05-14

MDB Capital’s filings show an equity-funded balance sheet where reported earnings swing sharply but cash use stays persistent.

Between FY2024 and FY2025, net income swung from $11.7M to -$21.2M even though operating cash flow was negative in both years. With cash from operations at -$5.7M in FY2025 and FY2024 cushioned by a $22.9M investing inflow, the earnings line appears more shaped by non-operating items than by a self-funding operating engine.

The balance sheet is lightly encumbered: FY2025 liabilities were just $3.2M against $60.7M of equity, so setbacks are being absorbed mainly by shareholders rather than by creditor claims. That unusually low liability load gives the company room to keep operating while cash generation remains uneven.

Operating cash burn improved from -$9.0M to -$5.7M, but the business still did not fund itself internally in FY2025. Cash still fell to $13.2M from $20.4M, and SG&A remains the dominant cost load, which means overhead control matters more here than classic revenue-scale dynamics visible in many operating companies.

Financial Health Signals

Financial health score pending refresh

We are recalculating MDB Capital Holdings LLC's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Earnings Quality Low Quality

0.27x

For every $1 of reported earnings, MDB Capital Holdings LLC generates $0.27 in operating cash flow (-$5.7M OCF vs -$21.2M 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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Earnings & Revenue

Revenue

N/A

EBITDA

$4.9M

YoY+106.7%

MDB Capital Holdings LLC's EBITDA was $4.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 106.7% from the prior year.

Net Income

-$21.2M

YoY-281.7%

MDB Capital Holdings LLC reported -$21.2M in net income in fiscal year 2025. This represents a decrease of 281.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$13.2M

YoY-35.3%

MDB Capital Holdings LLC held $13.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-35.0%

YoY-51.7pp

MDB Capital Holdings LLC's ROE was -35.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 51.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

MDBH Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$1.5M+177.9%	$528K+51.7%	$348K
SG&A Expenses	$22.6M-22.8%	$29.3M+109.9%	$14.0M+100.3%	$7.0M
Operating Income	$4.9M+127.7%	$2.2M-64.0%	$6.0M+391.8%	$1.2M
Interest Expense	N/A	$72K	N/A	N/A
Income Tax	$11K+450.0%	$2K-98.4%	$128K	N/A
Net Income	-$21.2M-281.7%	$11.7M+267.8%	-$7.0M-31.1%	-$5.3M
EPS (Diluted)	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$723K+204.8%	$237K
SG&A Expenses	$5.5M	N/A	$5.0M-8.9%	$5.5M-18.5%	$6.7M	N/A	$7.4M+2.9%	$7.2M
Operating Income	$44K	N/A	$1.3M+165.8%	-$1.9M-329.5%	$828K	N/A	-$614K-126.8%	$2.3M
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	$2K
Net Income	-$6.7M	N/A	-$4.7M+43.5%	-$8.2M-25.2%	-$6.6M	N/A	-$7.7M-81.0%	-$4.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MDBH Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$63.7M-11.4%	$72.0M+67.4%	$43.0M+67.3%	$25.7M
Current Assets	N/A	N/A	N/A	N/A
Cash & Equivalents	$13.2M-35.3%	$20.4M+234.5%	$6.1M+23.4%	$5.0M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$124K+402.0%	$25K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$3.2M+66.1%	$1.9M-66.4%	$5.7M+118.6%	$2.6M
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$60.7M-13.5%	$70.2M+88.0%	$37.3M+64.8%	$22.6M
Retained Earnings	-$19.8M-1473.3%	$1.4M+111.9%	-$12.1M-136.0%	-$5.1M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$57.5M-9.8%	$63.7M+3.6%	$61.5M-3.2%	$63.5M-7.4%	$68.6M-4.7%	$72.0M+110.4%	$34.2M-9.3%	$37.7M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$12.2M-7.7%	$13.2M-12.4%	$15.1M-11.7%	$17.1M-12.6%	$19.6M-4.3%	$20.4M+22.5%	$16.7M-4.8%	$17.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$185K+49.2%	$124K-34.1%	$188K-25.7%	$253K	N/A	$25K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2M-60.8%	$3.2M+68.1%	$1.9M+8.4%	$1.7M+5.7%	$1.6M-13.8%	$1.9M-68.4%	$6.0M+17.1%	$5.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$56.3M-7.2%	$60.7M+1.6%	$59.7M-3.5%	$61.9M-7.8%	$67.1M-4.4%	$70.2M+142.0%	$29.0M-12.1%	$33.0M
Retained Earnings	-$26.5M-34.0%	-$19.8M-9.7%	-$18.0M-34.8%	-$13.4M-160.3%	-$5.1M-456.8%	$1.4M+104.6%	-$31.3M-32.8%	-$23.6M

MDBH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	-$5.7M+37.1%	-$9.0M-26.8%	-$7.1M-8.4%	-$6.6M
Capital Expenditures	N/A	N/A	$439K+127.1%	$193K
Free Cash Flow	N/A	N/A	-$7.6M-11.8%	-$6.8M
Investing Cash Flow	-$49K-100.2%	$22.9M+378.0%	-$8.2M+49.7%	-$16.4M
Financing Cash Flow	N/A	$69K-99.6%	$17.8M-18.1%	$21.7M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$2.9M-717.2%	-$360K+81.2%	-$1.9M+10.7%	-$2.1M-70.8%	-$1.3M-201.5%	-$417K+80.6%	-$2.2M+48.9%	-$4.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	-$75K-336.0%	$32K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$2.2M+47.5%	-$4.2M
Investing Cash Flow	-$69K-195.8%	-$23K	N/A	N/A	N/A	$2.8M+1795.4%	$150K-99.1%	$16.4M
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	$587K+348.9%	-$236K-23.7%	-$191K
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

MDBH Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	-35.0%-51.7pp	16.7%+35.3pp	-18.7%+4.8pp	-23.5%
Return on Assets	-33.3%-49.6pp	16.2%+32.5pp	-16.2%+4.5pp	-20.7%
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	0.05+0.0	0.03-0.1	0.15+0.0	0.11
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-12.0%	N/A	-7.8%+5.5pp	-13.3%-3.5pp	-9.8%	N/A	-26.7%-13.7pp	-13.0%
Return on Assets	-11.7%	N/A	-7.6%+5.4pp	-13.0%-3.4pp	-9.6%	N/A	-22.6%-11.3pp	-11.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.02-0.0	0.05+0.0	0.030.0	0.030.0	0.020.0	0.03-0.2	0.21+0.1	0.16
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

Is MDB Capital Holdings LLC profitable?

No, MDB Capital Holdings LLC (MDBH) reported a net income of -$21.2M in fiscal year 2025.

What is MDB Capital Holdings LLC's EBITDA?

MDB Capital Holdings LLC (MDBH) had EBITDA of $4.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is MDB Capital Holdings LLC's return on equity (ROE)?

MDB Capital Holdings LLC (MDBH) has a return on equity of -35.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is MDB Capital Holdings LLC's operating cash flow?

MDB Capital Holdings LLC (MDBH) generated -$5.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MDB Capital Holdings LLC's total assets?

MDB Capital Holdings LLC (MDBH) had $63.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What is MDB Capital Holdings LLC's debt-to-equity ratio?

MDB Capital Holdings LLC (MDBH) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is MDB Capital Holdings LLC's return on assets (ROA)?

MDB Capital Holdings LLC (MDBH) had a return on assets of -33.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is MDB Capital Holdings LLC's cash runway?

Based on fiscal year 2025 data, MDB Capital Holdings LLC (MDBH) had $13.2M in cash against an annual operating cash burn of $5.7M. This gives an estimated cash runway of approximately 28 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.

Are MDB Capital Holdings LLC's earnings high quality?

MDB Capital Holdings LLC (MDBH) has an earnings quality ratio of 0.27x, 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.