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Nordicus Partner Financials

NORD
Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE March

This page shows Nordicus Partner (NORD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 NORD FY2025

FY2025 shows a balance-sheet expansion driven by non-cash assets while operating liquidity became exceptionally tight.

Between FY2024 and FY2025, total assets jumped from $1.8M to $70.2M and goodwill reached $25.5M, yet cash slipped to $19.9K and the current ratio fell from 1.9x to 0.05x. That combination means the company became much larger on paper without becoming more capable of meeting near-term obligations from liquid resources.

With only $5.0K of revenue against $1.33M of R&D and a -$2.9M net loss, FY2025 looks like a development-stage spending model rather than a business currently scaling sales. Traditional margin reading is less useful here because the cost base is being set by investment and overhead decisions, not by customer volume.

Operating cash outflow of -$1.28M was only partly covered by $1.08M of financing cash flow, so routine activity still depended on fresh capital. At the same time, reported equity of $59.9M did not create much working-capital cushion: current assets were just $57.6K, showing that accounting strength and usable liquidity had sharply diverged.

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Financial Health Signals

Financial health score pending refresh

We are recalculating Nordicus Partner'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.

Altman Z-Score Distress
1.64

Nordicus Partner scores 1.64, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($47.2M) relative to total liabilities ($10.4M). 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
2/7

Nordicus Partner passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality
0.44x

For every $1 of reported earnings, Nordicus Partner generates $0.44 in operating cash flow (-$1.3M OCF vs -$2.9M 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
-14596.8x

Nordicus Partner earns $-14596.8 in operating income for every $1 of interest expense (-$2.9M vs $200). 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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Earnings & Revenue

Revenue
$5K
YoY+100.0%
10Y CAGR-47.6%

Nordicus Partner generated $5K in revenue in fiscal year 2025. This represents an increase of 100.0% from the prior year.

EBITDA
N/A
Net Income
-$2.9M
YoY-872.9%

Nordicus Partner reported -$2.9M in net income in fiscal year 2025. This represents a decrease of 872.9% from the prior year.

EPS (Diluted)
$-0.32

Nordicus Partner earned $-0.32 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$20K
YoY-60.1%
5Y CAGR-67.6%
10Y CAGR-12.4%

Nordicus Partner held $20K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
17M

Nordicus Partner had 17M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
N/A
Operating Margin
-58387.3%
YoY-46083.8pp

Nordicus Partner's operating margin was -58387.3% in fiscal year 2025, reflecting core business profitability. This is down 46083.8 percentage points from the prior year.

Net Margin
-58026.4%
YoY-46098.3pp
10Y CAGR-58016.4pp

Nordicus Partner's net profit margin was -58026.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 46098.3 percentage points from the prior year.

Return on Equity
-4.9%
YoY+11.9pp
5Y CAGR-104.1pp

Nordicus Partner's ROE was -4.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.9 percentage points from the prior year.

Capital Allocation

R&D Spending
$1.3M
10Y CAGR+15.7%

Nordicus Partner invested $1.3M in research and development in fiscal year 2025.

Share Buybacks
N/A
Capital Expenditures
N/A

NORD Income Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue N/A N/A N/A N/A $3K0.0% $3K 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 $445K-2.0% $455K+7.3% $424K N/A $418K+21.7% $343K N/A N/A
SG&A Expenses $296K-15.2% $349K+436.0% $65K N/A $115K+61.7% $71K+116.0% $33K N/A
Operating Income -$1.1M+7.4% -$1.2M-45.6% -$832K N/A -$1.3M-149.4% -$507K-96.5% -$258K N/A
Interest Expense $189+4825.0% -$4 N/A N/A $10.0% $1 N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$1.2M+18.8% -$1.5M-25.2% -$1.2M N/A -$1.5M-206.7% -$501K-94.0% -$258K N/A
EPS (Diluted) $-0.07+12.5% $-0.08-14.3% $-0.07 N/A $-0.13-30.0% $-0.10-25.0% $-0.08 N/A

NORD Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $75.9M0.0% $75.9M-0.3% $76.1M+8.4% $70.2M+17.6% $59.7M+187.3% $20.8M-0.1% $20.8M+1050.8% $1.8M
Current Assets $644K+33.0% $484K+200.0% $161K+180.5% $58K-26.0% $78K-34.3% $118K+47.4% $80K+60.9% $50K
Cash & Equivalents $189K-21.8% $242K+2776.6% $8K-57.7% $20K-28.9% $28K-39.3% $46K+72.6% $27K-46.5% $50K
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 N/A N/A N/A N/A N/A
Goodwill $27.7M0.0% $27.7M-0.3% $27.8M+9.0% $25.5M-55.6% $57.4M+208.0% $18.6M0.0% $18.6M N/A
Total Liabilities $11.1M-1.0% $11.2M-5.5% $11.9M+14.3% $10.4M+1067.9% $889K+481.5% $153K+134.6% $65K+146.8% $26K
Current Liabilities $902K-10.4% $1.0M-37.8% $1.6M+52.4% $1.1M+19.6% $889K+481.5% $153K+134.6% $65K+146.8% $26K
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $64.8M+0.2% $64.7M+0.6% $64.3M+7.3% $59.9M+1.8% $58.8M+199.0% $19.7M-0.5% $19.8M+1010.8% $1.8M
Retained Earnings -$50.7M-2.5% -$49.5M-3.1% -$48.0M-2.6% -$46.8M-1.3% -$46.2M-3.4% -$44.6M-1.1% -$44.1M-0.6% -$43.9M

NORD Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow -$1.5M+17.1% -$1.8M-314.1% -$426K-10.5% -$385K-28.5% -$300K+21.6% -$382K-75.7% -$218K-101.6% -$108K
Capital Expenditures $9K N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow -$1.5M N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow -$1K N/A N/A -$8K-134.9% $24K+1109.9% -$2K-101.8% $135K N/A
Financing Cash Flow $1.4M-29.9% $2.0M+390.1% $410K+30.8% $313K-1.8% $319K-17.6% $387K+545.5% $60K-47.5% $114K
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

NORD Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
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 -50612.4%-30316.6pp -20295.8% N/A N/A
Net Margin N/A N/A N/A N/A -61438.5%-41407.1pp -20031.4% N/A N/A
Return on Equity -1.9%+0.5pp -2.3%-0.5pp -1.9% N/A -2.6%-0.1pp -2.5%-1.2pp -1.3% N/A
Return on Assets -1.6%+0.4pp -2.0%-0.4pp -1.6% N/A -2.6%-0.2pp -2.4%-1.2pp -1.2% N/A
Current Ratio 0.71+0.2 0.48+0.4 0.10+0.0 0.05-0.0 0.09-0.7 0.78-0.5 1.23-0.7 1.89
Debt-to-Equity 0.170.0 0.17-0.0 0.18+0.0 0.17+0.2 0.020.0 0.010.0 0.00-0.0 0.01
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: The current ratio is below 1.0 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Nordicus Partner (NORD) reported $5K in total revenue for fiscal year 2025. This represents a 100.0% 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.

Nordicus Partner (NORD) revenue grew by 100% year-over-year, from $3K to $5K in fiscal year 2025.

No, Nordicus Partner (NORD) reported a net income of -$2.9M in fiscal year 2025, with a net profit margin of -58026.4%.

Nordicus Partner (NORD) reported diluted earnings per share of $-0.32 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.

Nordicus Partner (NORD) had an operating margin of -58387.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Nordicus Partner (NORD) had a net profit margin of -58026.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Nordicus Partner (NORD) has a return on equity of -4.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Nordicus Partner (NORD) generated -$1.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Nordicus Partner (NORD) had $70.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Nordicus Partner (NORD) invested $1.3M in research and development during fiscal year 2025.

Nordicus Partner (NORD) had 17M shares outstanding as of fiscal year 2025.

Nordicus Partner (NORD) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Nordicus Partner (NORD) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Nordicus Partner (NORD) had a return on assets of -4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Nordicus Partner (NORD) had $20K in cash against an annual operating cash burn of $1.3M. This gives an estimated cash runway of approximately 0 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.

Nordicus Partner (NORD) has an Altman Z-Score of 1.64, 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.

Nordicus Partner (NORD) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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.

Nordicus Partner (NORD) has an earnings quality ratio of 0.44x, 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.

Nordicus Partner (NORD) has an interest coverage ratio of -14596.8x, 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.

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