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Neuroone Med Technologies Corp Financials

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

This page shows Neuroone Med Technologies Corp (NMTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 NMTC FY2025

Commercial traction is finally shrinking the burn, but equity financing still supplies the cash that operations do not.

From FY2023 to FY2025, gross margin expanded from 23.4% to 56.5%, showing the sales ramp is arriving with much better unit economics instead of simply more volume at the same loss profile. At the same time, operating cash burn improved from -$12.9M to -$2.8M, so the narrower loss is being matched by real cash improvement rather than accounting presentation alone.

The balance sheet is acting as a financing buffer: cash was $6.6M and the current ratio was 4.4x in FY2025, enough to support near-term operations even though the business is not yet self-funding. That liquidity was rebuilt externally rather than internally because operating cash flow remained negative, and share count rose to 50.0M from 30.8M, indicating equity issuance has been the main funding lever.

Because capital spending was only $82K while free cash flow was -$2.9M, the cash drain is mostly operating burn rather than a business that needs heavy equipment or facilities to keep going. R&D and SG&A still sit above current gross profit, so the remaining path to sustainability is about covering fixed operating costs with more revenue, not materially reducing reinvestment needs.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&D Intensity Revenue Progress Burn Trend Balance Sheet 80 / 100
Financial Health Score 80/100
Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Neuroone Med Technologies Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway
61
Dilution
85
R&D Intensity
70
Revenue Progress
94
Burn Trend
81
Balance Sheet
86
Altman Z-Score Distress
-5.90

Neuroone Med Technologies Corp scores -5.90, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($23.9M) relative to total liabilities ($3.7M). 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.

Piotroski F-Score Partial
6/8

Neuroone Med Technologies Corp passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality
0.79x

For every $1 of reported earnings, Neuroone Med Technologies Corp generates $0.79 in operating cash flow (-$2.8M OCF vs -$3.6M 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
$9.1M
YoY+163.5%

Neuroone Med Technologies Corp generated $9.1M in revenue in fiscal year 2025. This represents an increase of 163.5% from the prior year.

EBITDA
-$4.0M
YoY+65.9%

Neuroone Med Technologies Corp's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 65.9% from the prior year.

Net Income
-$3.6M
YoY+70.7%

Neuroone Med Technologies Corp reported -$3.6M in net income in fiscal year 2025. This represents an increase of 70.7% from the prior year.

EPS (Diluted)
$-0.09

Neuroone Med Technologies Corp earned $-0.09 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$2.9M
YoY+73.8%

Neuroone Med Technologies Corp generated -$2.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 73.8% from the prior year.

Cash & Debt
$6.6M
YoY+350.0%
5Y CAGR+10.2%

Neuroone Med Technologies Corp held $6.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
8M

Neuroone Med Technologies Corp had 8M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
56.5%
YoY+25.2pp

Neuroone Med Technologies Corp's gross margin was 56.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 25.2 percentage points from the prior year.

Operating Margin
-46.5%
YoY+297.8pp

Neuroone Med Technologies Corp's operating margin was -46.5% in fiscal year 2025, reflecting core business profitability. This is up 297.8 percentage points from the prior year.

Net Margin
-39.6%
YoY+317.1pp

Neuroone Med Technologies Corp's net profit margin was -39.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 317.1 percentage points from the prior year.

Return on Equity
-51.0%
YoY+1447.5pp
5Y CAGR+609.2pp

Neuroone Med Technologies Corp's ROE was -51.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1447.5 percentage points from the prior year.

Capital Allocation

R&D Spending
$5.0M
YoY-1.6%
5Y CAGR+19.1%

Neuroone Med Technologies Corp invested $5.0M in research and development in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$82K
YoY-32.0%
5Y CAGR-7.8%

Neuroone Med Technologies Corp invested $82K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 32.0% from the prior year.

NMTC Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $1.9M-35.6% $2.9M+5.5% $2.7M+61.6% $1.7M+22.3% $1.4M-57.7% $3.3M+1102.5% $272K-67.0% $826K
Cost of Revenue $872K-34.2% $1.3M+9.3% $1.2M+55.2% $781K+26.9% $615K-54.3% $1.3M+926.7% $131K-75.9% $544K
Gross Profit $990K-36.8% $1.6M+2.6% $1.5M+67.1% $915K+18.6% $771K-60.0% $1.9M+1266.0% $141K-50.0% $282K
R&D Expenses $1.5M+5.6% $1.4M+24.3% $1.1M-5.5% $1.2M-21.7% $1.5M+28.9% $1.2M+5.3% $1.1M-6.8% $1.2M
SG&A Expenses $1.9M+1.8% $1.9M+5.8% $1.8M+10.1% $1.6M-16.6% $1.9M-5.0% $2.0M+10.8% $1.8M-2.0% $1.9M
Operating Income -$2.4M-40.4% -$1.7M-24.5% -$1.4M+27.3% -$1.9M+29.6% -$2.7M-256.6% $1.7M+160.8% -$2.8M-0.8% -$2.8M
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 -$2.4M-65.7% -$1.4M+11.2% -$1.6M-7.9% -$1.5M+33.9% -$2.3M-227.2% $1.8M+153.3% -$3.4M-21.1% -$2.8M
EPS (Diluted) $-0.28 $-0.03 N/A $-0.03+93.2% $-0.44-833.3% $0.06 N/A $-0.10

NMTC Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $7.6M-11.8% $8.6M-20.5% $10.8M-0.3% $10.8M+142.8% $4.5M-31.4% $6.5M+20.9% $5.4M+9.3% $4.9M
Current Assets $7.1M-11.9% $8.1M-21.1% $10.2M+0.5% $10.2M+170.9% $3.8M-34.3% $5.7M+23.3% $4.6M+13.4% $4.1M
Cash & Equivalents $2.8M-21.3% $3.6M-45.8% $6.6M-18.3% $8.0M+509.0% $1.3M+16.4% $1.1M-22.3% $1.5M-9.9% $1.6M
Inventory $2.1M+26.0% $1.7M-25.2% $2.2M+17.3% $1.9M+3.4% $1.8M-5.0% $1.9M-26.7% $2.6M+46.9% $1.8M
Accounts Receivable $1.9M-28.7% $2.7M+110.5% $1.3M N/A $319K-86.5% $2.4M+1241.1% $177K-57.0% $411K
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $2.5M+14.5% $2.2M-41.4% $3.7M+40.5% $2.6M-20.7% $3.3M-6.4% $3.6M-21.7% $4.5M+139.3% $1.9M
Current Liabilities $1.7M+34.2% $1.3M-45.4% $2.3M+61.5% $1.4M-19.1% $1.8M+12.2% $1.6M-29.0% $2.2M+30.9% $1.7M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $5.1M-20.7% $6.4M-9.5% $7.1M-13.5% $8.2M+626.3% $1.1M-61.6% $2.9M+257.1% $822K-72.7% $3.0M
Retained Earnings -$82.4M-3.0% -$80.0M-1.8% -$78.6M-2.1% -$77.0M-2.0% -$75.5M-3.1% -$73.2M+2.4% -$75.0M-4.7% -$71.7M

NMTC Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$1.3M+57.4% -$3.1M-104.2% -$1.5M-4.2% -$1.5M-2506.7% -$56K-127.0% $208K+107.8% -$2.7M-13.0% -$2.4M
Capital Expenditures $39K-5.5% $41K+284.2% $11K-75.6% $44K+1273.3% $3K-87.0% $24K-33.8% $37K+149.3% $15K
Free Cash Flow -$1.4M+56.7% -$3.2M-105.5% -$1.5M-1.9% -$1.5M-2440.8% -$59K-132.3% $184K+106.8% -$2.7M-13.8% -$2.4M
Investing Cash Flow -$39K+5.5% -$41K-284.2% -$11K+75.6% -$44K-1273.3% -$3K+87.0% -$24K+33.8% -$37K-149.3% -$15K
Financing Cash Flow $610K+312.4% $148K+120.7% $67K-99.2% $8.2M+3254.8% $245K+148.1% -$509K-120.0% $2.5M+63.0% $1.6M
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

NMTC Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 53.2%-1.0pp 54.2%-1.6pp 55.8%+1.8pp 53.9%-1.7pp 55.6%-3.2pp 58.9%+7.0pp 51.8%+17.7pp 34.1%
Operating Margin -128.7%-69.7pp -59.0%-9.0pp -50.0%+61.2pp -111.2%+82.1pp -193.3%-245.5pp 52.3%+1086.7pp -1034.5%-696.1pp -338.3%
Net Margin -127.9%-78.2pp -49.7%+9.4pp -59.1%+29.4pp -88.5%+75.3pp -163.8%-218.3pp 54.5%+1285.1pp -1230.5%-895.4pp -335.1%
Return on Equity -46.9%-24.5pp -22.5%+0.4pp -22.9%-4.5pp -18.4%+183.3pp -201.7%-262.5pp 60.8%+468.4pp -407.6%-315.7pp -91.9%
Return on Assets -31.5%-14.7pp -16.8%-1.7pp -15.0%-1.1pp -13.9%+37.1pp -50.9%-78.4pp 27.5%+89.9pp -62.4%-6.1pp -56.3%
Current Ratio 4.21-2.2 6.41+2.0 4.44-2.7 7.13+5.0 2.13-1.5 3.64+1.5 2.09-0.3 2.42
Debt-to-Equity 0.49+0.2 0.34-0.2 0.53+0.2 0.32-2.6 2.96+1.7 1.21-4.3 5.53+4.9 0.63
FCF Margin -73.4%+35.7pp -109.1%-53.1pp -56.0%+32.8pp -88.9%-84.6pp -4.3%-9.9pp 5.6%+998.6pp -993.0%-705.4pp -287.6%

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Frequently Asked Questions

Neuroone Med Technologies Corp (NMTC) reported $9.1M in total revenue for fiscal year 2025. This represents a 163.5% 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.

Neuroone Med Technologies Corp (NMTC) revenue grew by 163.5% year-over-year, from $3.5M to $9.1M in fiscal year 2025.

No, Neuroone Med Technologies Corp (NMTC) reported a net income of -$3.6M in fiscal year 2025, with a net profit margin of -39.6%.

Neuroone Med Technologies Corp (NMTC) reported diluted earnings per share of $-0.09 for fiscal year 2025. 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.

Neuroone Med Technologies Corp (NMTC) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Neuroone Med Technologies Corp (NMTC) had a gross margin of 56.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Neuroone Med Technologies Corp (NMTC) had an operating margin of -46.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Neuroone Med Technologies Corp (NMTC) had a net profit margin of -39.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Neuroone Med Technologies Corp (NMTC) has a return on equity of -51.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Neuroone Med Technologies Corp (NMTC) generated -$2.9M in free cash flow during fiscal year 2025. This represents a 73.8% 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.

Neuroone Med Technologies Corp (NMTC) generated -$2.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Neuroone Med Technologies Corp (NMTC) had $10.8M in total assets as of fiscal year 2025, including both current and long-term assets.

Neuroone Med Technologies Corp (NMTC) invested $82K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Neuroone Med Technologies Corp (NMTC) invested $5.0M in research and development during fiscal year 2025.

Neuroone Med Technologies Corp (NMTC) had 8M shares outstanding as of fiscal year 2025.

Neuroone Med Technologies Corp (NMTC) had a current ratio of 4.44 as of fiscal year 2025, which is generally considered healthy.

Neuroone Med Technologies Corp (NMTC) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Neuroone Med Technologies Corp (NMTC) had a return on assets of -33.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Neuroone Med Technologies Corp (NMTC) had $6.6M in cash against an annual operating cash burn of $2.8M. 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.

Neuroone Med Technologies Corp (NMTC) has an Altman Z-Score of -5.90, 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.

Neuroone Med Technologies Corp (NMTC) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.

Neuroone Med Technologies Corp (NMTC) has an earnings quality ratio of 0.79x, 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.

Neuroone Med Technologies Corp (NMTC) scores 80 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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