Matternet (MTTN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the filing for Q2 FY2026, filed Aug 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MTTN SEC filings page.
Matternet Inc (MTTN) reported $393K in revenue for fiscal year 2025, down 27.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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.
Financial Health Signals
We do not publish a peer-relative financial health score for Matternet Inc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Matternet Inc scores -92.75, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $130.6M against total assets of $2.3M. 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.
Matternet Inc reported an operating loss of $8.1M against $1.1M 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
Matternet Inc generated $121K in revenue in Q2 2026.
Matternet Inc's EBITDA was -$3.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization.
Matternet Inc reported a net loss of $7.9M in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Matternet Inc recorded an outflow of $3.5M in free cash flow in Q2 2026, representing a cash shortfall after capex.
Matternet Inc held $23.1M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Matternet Inc's quarterly ROE was -35.4% in Q2 2026: one quarter's net income over shareholder equity, not annualized.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Matternet Inc invested $965K in research and development in Q2 2026.
Matternet Inc invested $66K in capex in Q2 2026, funding long-term assets and infrastructure.
Not reported for Q2 2026.
MTTN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q4'25Filing | Q3'25Filing |
|---|---|---|---|---|---|
| Revenue | $121K | N/A | N/A | N/A | $130K |
| Cost of Revenue | $341K | N/A | N/A | N/A | $213K |
| Gross Profit | -$219K | N/A | N/A | N/A | -$83K |
| R&D Expenses | $965K | N/A | N/A | N/A | $666K |
| SG&A Expenses | $2.7M | $7K | N/A | $10K | $1.2M |
| Operating Income | -$3.9M | -$7K | N/A | -$10K | -$1.9M |
| EBITDA | -$3.9M | N/A | N/A | $56K | -$1.9M |
| Interest Expense | $125K | N/A | N/A | N/A | $340K |
| Income Tax | -$3K | N/A | N/A | N/A | $4K |
| Net Income | -$7.9M | -$7K | N/A | -$10K | -$2.3M |
| EPS (Basic) | -$0.27 | $0.00 | N/A | $0.00 | -$0.20 |
| EPS (Diluted) | -$0.27 | $0.00 | N/A | $0.00 | -$0.20 |
| Diluted Shares (Avg) | 29M | 10M | N/A | 10M | 11M |
MTTN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q4'25Filing | Q3'25Filing |
|---|---|---|---|---|---|
| Total Assets | $25.5M | $6.8M | $4K | $2.3M | N/A |
| Current Assets | $24.1M | $5.3M | $4K | $955K | N/A |
| Cash & Equivalents | $23.1M | $4.6M | $4K | $294K | $441K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $26K | $7K | N/A | $60K | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.1M | $80.7M | $37K | $122.2M | N/A |
| Current Liabilities | $3.1M | $13.8M | $37K | $6.4M | N/A |
| Non-Current Liabilities | $0 | $66.9M | $0 | $115.8M | N/A |
| Total Equity | $22.4M | -$73.9M | -$33K | -$119.9M | -$96.8M |
| Retained Earnings | -$145.7M | -$137.8M | -$34K | -$130.6M | N/A |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
MTTN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q4'25Filing | Q3'25Filing |
|---|---|---|---|---|---|
| Operating Cash Flow | -$3.4M | -$6K | N/A | -$6K | -$1.7M |
| Depreciation & Amortization | $31K | N/A | N/A | $65K | $56K |
| Stock-Based Compensation | $228.9M | N/A | N/A | N/A | $130K |
| Capital Expenditures | $66K | N/A | N/A | N/A | $207K |
| Free Cash Flow | -$3.5M | N/A | N/A | N/A | -$1.9M |
| Investing Cash Flow | -$66K | N/A | N/A | $126K | -$207K |
| Financing Cash Flow | $22.0M | $15K | $20K | $11K | $1.8M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
MTTN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q4'25Filing | Q3'25Filing |
|---|---|---|---|---|---|
| Gross Margin | -180.7% | N/A | N/A | N/A | -63.4% |
| Operating Margin | -3204.7% | N/A | N/A | N/A | -1480.4% |
| Net Margin | -6525.1% | N/A | N/A | N/A | -1742.1% |
| Return on Equity | -35.4% | N/A | N/A | N/A | N/A |
| Return on Assets | -31.1% | -0.1% | N/A | -0.4% | N/A |
| Current Ratio | 7.84 | 0.38 | 0.11 | 0.15 | N/A |
| Liabilities-to-Equity | 0.14 | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.00 | N/A | N/A | N/A | N/A |
| FCF Margin | -2868.8% | N/A | N/A | N/A | -1476.8% |
Not reported in any period shown, so not listed: Debt-to-Equity.
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: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$119.9M), which causes the debt-to-equity, liabilities-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 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Matternet Inc MTTN | FY2025 | $393K | N/A | N/A | $159.9M | — |
| Butler Natl Corp BUKS | FY2026 | $98.0M | $21.9M | 22.4% | $328.8M | — |
Where Matternet Inc Ranks
Frequently Asked Questions
Matternet Inc (MTTN) reported $393K in total revenue for fiscal year 2025. This represents a -27.7% 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.
Matternet Inc (MTTN) revenue declined by 27.7% year-over-year, from $543K to $393K in fiscal year 2025.
Matternet Inc (MTTN) had EBITDA of -$8.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Matternet Inc (MTTN) had a gross margin of -52.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Matternet Inc (MTTN) recorded an outflow of $7.0M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Matternet Inc (MTTN) recorded an outflow of $6.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Matternet Inc (MTTN) had $2.3M in total assets as of fiscal year 2025, including both current and long-term assets.
Matternet Inc (MTTN) invested $85K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Matternet Inc (MTTN) invested $3.0M in research and development during fiscal year 2025.
Matternet Inc (MTTN) had a current ratio of 0.15 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Matternet Inc (MTTN) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $159.9M as of Nov 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Matternet Inc (MTTN) trades at 407x sales, its market capitalization divided by $393K revenue, FY2025. The market capitalization is $159.9M as of Nov 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
At the end of fiscal year 2025, Matternet Inc (MTTN) held $294K in cash, cash equivalents and investments, and reported an operating cash outflow of $6.9M over that year. Dividing the one by the other, the reported balance equals about 1 month of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Matternet Inc (MTTN) has negative shareholder equity of -$119.9M as of fiscal year 2025, so no debt-to-equity or liabilities-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.
Matternet Inc (MTTN) has an Altman Z-Score of -92.75, 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.
Matternet Inc (MTTN) reported an operating loss of $8.1M against $1.1M 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.