NextTrip Financials
This page shows NextTrip (NTRP) 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).
External financing rather than customer economics is carrying the business, because operating burn overwhelms an almost nonexistent gross profit base.
Over the last two fiscal years, NextTrip brought in$11.6M of financing cash but finished with only$1.1M of cash. Operating cash flow consumed$10.8M over that span, so fresh capital was largely replacing cash used by the business rather than building liquidity. That matches the sub-1.0 current ratio in each of those years, meaning short-term obligations still sat roughly level with short-term assets.
Gross margin fell from
The balance sheet is better described as capital-supported than self-funded: assets were
Financial Health Signals
Scored against operating companies for FY2026. 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 NextTrip'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.
NextTrip has an operating margin of -440.4%, meaning the company retains $-440 of operating profit per $100 of revenue. This results in a moderate score of 31/100, indicating healthy but not exceptional operating efficiency. This is up from -1478.5% the prior year.
NextTrip's revenue surged 641.0% year-over-year to $3.7M, reflecting rapid business expansion. This strong growth earns a score of 98/100.
NextTrip has a moderate D/E ratio of 1.36. This balance of debt and equity financing earns a leverage score of 40/100.
NextTrip's current ratio of 0.81 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.
NextTrip generates a -296.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is down from -137.4% the prior year.
NextTrip scores -6.89, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($29.8M) relative to total liabilities ($7.3M). 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.
NextTrip passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, NextTrip generates $0.29 in operating cash flow (-$4.6M OCF vs -$15.9M 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
Earnings & Revenue
NextTrip generated $3.7M in revenue in fiscal year 2026. This represents an increase of 641.0% from the prior year.
NextTrip's EBITDA was -$15.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 127.9% from the prior year.
NextTrip reported -$15.9M in net income in fiscal year 2026. This represents a decrease of 57.2% from the prior year.
NextTrip earned $-1.82 per diluted share (EPS) in fiscal year 2026. This represents an increase of 18.4% from the prior year.
Cash & Balance Sheet
NextTrip held $1.7M in cash against $0 in long-term debt as of fiscal year 2026.
NextTrip had 14M shares outstanding in fiscal year 2026. This represents an increase of 743.7% from the prior year.
Margins & Returns
NextTrip's gross margin was 17.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 16.9 percentage points from the prior year.
NextTrip's operating margin was -440.4% in fiscal year 2026, reflecting core business profitability. This is up 1038.0 percentage points from the prior year.
NextTrip's net profit margin was -428.3% in fiscal year 2026, showing the share of revenue converted to profit. This is up 1590.0 percentage points from the prior year.
NextTrip's ROE was -296.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 158.7 percentage points from the prior year.
Capital Allocation
NTRP Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M+34.9% | $1.2M+58.4% | $758K+445.7% | $139K+66.3% | $83K+11.9% | $75K-51.7% | $154K-18.2% | $189K |
| Cost of Revenue | $1.4M+41.3% | $983K+66.0% | $592K+492.5% | $100K+8.2% | $92K+20.3% | $77K-50.6% | $155K-10.4% | $174K |
| Gross Profit | $231K+6.0% | $217K+31.3% | $166K+325.6% | $39K+540.3% | -$9K-317.6% | -$2K-121.1% | -$957-106.3% | $15K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $78K+26.2% | $62K+95.7% | $32K+3.8% | $31K+109.9% | $15K-53.8% | $32K+45.5% | $22K-21.3% | $28K |
| Operating Income | -$5.4M-76.3% | -$3.1M+3.7% | -$3.2M+31.0% | -$4.6M-109.2% | -$2.2M-25.1% | -$1.8M-20.7% | -$1.5M+24.7% | -$2.0M |
| 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 | -$5.3M-61.2% | -$3.3M-13.0% | -$2.9M+35.0% | -$4.5M+3.0% | -$4.6M-128.8% | -$2.0M-30.9% | -$1.5M+22.4% | -$2.0M |
| EPS (Diluted) | N/A | $-0.37+5.1% | $-0.39+42.6% | $-0.68 | N/A | $-0.35+69.3% | $-1.14+26.5% | $-1.55 |
NTRP Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.1M-9.3% | $14.4M+3.7% | $13.9M+27.0% | $11.0M+10.3% | $9.9M+99.6% | $5.0M+1.8% | $4.9M+4.0% | $4.7M |
| Current Assets | $3.2M-26.7% | $4.3M+22.1% | $3.5M+126.2% | $1.6M-36.8% | $2.5M+61.7% | $1.5M+12.3% | $1.4M-4.7% | $1.4M |
| Cash & Equivalents | $1.7M-30.1% | $2.4M+32.1% | $1.8M+1303.8% | $131K-87.7% | $1.1M+6805.2% | $15K-84.9% | $102K+178.1% | $37K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $119K-68.0% | $372K+39.5% | $267K+142.4% | $110K+388.0% | $23K+43.3% | $16K+40.6% | $11K-59.7% | $28K |
| Goodwill | $3.1M0.0% | $3.1M0.0% | $3.1M+10.1% | $2.8M+142.9% | $1.2M0.0% | $1.2M0.0% | $1.2M0.0% | $1.2M |
| Total Liabilities | $7.3M-10.2% | $8.1M+2.8% | $7.9M+85.1% | $4.3M+66.7% | $2.6M-59.8% | $6.4M+27.3% | $5.0M+42.1% | $3.5M |
| Current Liabilities | $3.9M-22.6% | $5.1M+1.0% | $5.0M+85.2% | $2.7M+5.0% | $2.6M-59.8% | $6.4M+27.3% | $5.0M+42.1% | $3.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $5.4M-8.7% | $5.9M+5.3% | $5.6M-16.2% | $6.7M-9.4% | $7.4M+620.4% | -$1.4M-955.4% | -$134K-111.5% | $1.2M |
| Retained Earnings | -$50.6M-11.8% | -$45.2M-7.8% | -$42.0M-7.9% | -$38.9M-13.2% | -$34.3M-15.6% | -$29.7M-7.3% | -$27.7M-5.9% | -$26.1M |
NTRP Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.1M-6.6% | -$2.0M-446.0% | $572K+154.9% | -$1.0M+46.4% | -$1.9M-64.4% | -$1.2M-46.0% | -$810K+29.1% | -$1.1M |
| 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 | -$970K | $0+100.0% | -$471K+63.3% | -$1.3M-126.8% | -$565K-613.5% | -$79K+64.0% | -$220K-30.0% | -$169K |
| Financing Cash Flow | $2.3M-8.6% | $2.6M+60.1% | $1.6M+15.2% | $1.4M-60.8% | $3.6M+202.6% | $1.2M+7.3% | $1.1M+6.9% | $1.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $11K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NTRP Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.2%-3.9pp | 18.1%-3.7pp | 21.9%-6.2pp | 28.0%+38.6pp | -10.6%-7.7pp | -2.8%-2.2pp | -0.6%-8.7pp | 8.1% |
| Operating Margin | -335.9%-78.9pp | -257.0%+165.7pp | -422.7%+2919.4pp | -3342.1%-685.5pp | -2656.6%-280.4pp | -2376.3%-1425.3pp | -951.0%+83.1pp | -1034.2% |
| Net Margin | -326.2%-53.3pp | -272.9%+109.6pp | -382.5%+2828.1pp | -3210.6%+2295.5pp | -5506.1%-2814.0pp | -2692.1%-1698.8pp | -993.3%+54.8pp | -1048.1% |
| Return on Equity | -98.3%-42.6pp | -55.6%-3.8pp | -51.8%+15.0pp | -66.8%-4.4pp | -62.4% | N/A | N/A | -169.7% |
| Return on Assets | -40.4%-17.7pp | -22.7%-1.9pp | -20.8%+19.8pp | -40.7%+5.6pp | -46.3%-5.9pp | -40.4%-9.0pp | -31.4%+10.7pp | -42.1% |
| Current Ratio | 0.81-0.0 | 0.85+0.1 | 0.70+0.1 | 0.58-0.4 | 0.96+0.7 | 0.24-0.0 | 0.27-0.1 | 0.40 |
| Debt-to-Equity | 1.36-0.0 | 1.38-0.0 | 1.42+0.8 | 0.64+0.3 | 0.35+4.9 | -4.52+32.9 | -37.45-40.5 | 3.03 |
| 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 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is NextTrip's annual revenue?
NextTrip (NTRP) reported $3.7M in total revenue for fiscal year 2026. This represents a 641.0% 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.
How fast is NextTrip's revenue growing?
NextTrip (NTRP) revenue grew by 641% year-over-year, from $501K to $3.7M in fiscal year 2026.
Is NextTrip profitable?
No, NextTrip (NTRP) reported a net income of -$15.9M in fiscal year 2026, with a net profit margin of -428.3%.
What is NextTrip's EBITDA?
NextTrip (NTRP) had EBITDA of -$15.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is NextTrip's gross margin?
NextTrip (NTRP) had a gross margin of 17.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is NextTrip's operating margin?
NextTrip (NTRP) had an operating margin of -440.4% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is NextTrip's net profit margin?
NextTrip (NTRP) had a net profit margin of -428.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is NextTrip's return on equity (ROE)?
NextTrip (NTRP) has a return on equity of -296.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is NextTrip's operating cash flow?
NextTrip (NTRP) generated -$4.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are NextTrip's total assets?
NextTrip (NTRP) had $13.1M in total assets as of fiscal year 2026, including both current and long-term assets.
What is NextTrip's current ratio?
NextTrip (NTRP) had a current ratio of 0.81 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is NextTrip's debt-to-equity ratio?
NextTrip (NTRP) had a debt-to-equity ratio of 1.36 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NextTrip's return on assets (ROA)?
NextTrip (NTRP) had a return on assets of -121.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is NextTrip's cash runway?
Based on fiscal year 2026 data, NextTrip (NTRP) had $1.7M in cash against an annual operating cash burn of $4.6M. 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 NextTrip's Altman Z-Score?
NextTrip (NTRP) has an Altman Z-Score of -6.89, 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.
What is NextTrip's Piotroski F-Score?
NextTrip (NTRP) has a Piotroski F-Score of 3 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.
Are NextTrip's earnings high quality?
NextTrip (NTRP) has an earnings quality ratio of 0.29x, 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.
How financially healthy is NextTrip?
NextTrip (NTRP) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.