What is Nexalin Technology, Inc. Warrant's earnings per share (EPS)?

Nexalin Technology, Inc. Warrant (NXLIW) reported diluted earnings per share of -$0.50 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.

Nexalin Technology, Inc. Warrant (NXLIW) Financials

NXLIW

Trailing 12 months to March 31, 2026

Revenue $276K +110.3% YoY

Net Income -$8.3M +2.6% YoY

EPS (Diluted) -$0.50 FY2025 annual

Operating Cash Flow -$5.2M -13.8% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 8, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NXLIW SEC filings page.

Nexalin Technology, Inc. Warrant (NXLIW) reported $276K in revenue over the twelve months to Mar 31, 2026, up 110.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 NXLIW FY2025 2026-10-03

Development-stage operations remain dependent on external financing because sales are still tiny beside operating costs.

Revenue nearly doubled from $169K in FY2024 to $302K in FY2025, yet operating cash flow moved further negative from -$3.9M to -$5.0M. That gap indicates commercial growth is not yet converting into cash, because development and operating spending still outweigh the revenue base.

The company spent $1.1M on research and development against $302K of revenue, so its cost structure is still development-led rather than supported by current sales. Selling, general, and administrative expense reached $4.4M, helping produce an operating loss of $8.4M.

Reported liabilities were $887K and debt-to-equity was 0.2x, indicating modest reported leverage despite sustained losses. However, positive financing cash flow of $5.2M alongside the higher reported share count suggests capital raising, not operations, has supplied the funding needed during FY2025.

Financial Health Signals

Financial health score not available

Nexalin Technology, Inc. Warrant does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/8

Nexalin Technology, Inc. Warrant passes 4 of 8 computable financial strength tests (1 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), both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Nexalin Technology, Inc. Warrant reported a net loss of $8.2M while operations used $5.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Nexalin Technology, Inc. Warrant reported an operating loss of $8.4M against $8K 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

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Earnings & Revenue

Revenue

$15K

YoY-63.5%

QoQ-91.3%

Nexalin Technology, Inc. Warrant generated $15K in revenue in Q1 2026. This represents a decrease of 63.5% from the same quarter a year earlier. Against the prior quarter it is down 91.3%.

EBITDA

-$2.1M

Nexalin Technology, Inc. Warrant's EBITDA was -$2.1M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization.

Net Income

-$2.1M

YoY-5.5%

QoQ+11.8%

Nexalin Technology, Inc. Warrant reported -$2.1M in net income in Q1 2026. This represents a decrease of 5.5% from the same quarter a year earlier. Against the prior quarter it is up 11.8%.

EPS (Diluted)

-$0.11

YoY+26.7%

Nexalin Technology, Inc. Warrant earned -$0.11 per diluted share (EPS) in Q1 2026. This represents an increase of 26.7% from the same quarter a year earlier.

Cash & Balance Sheet

Cash & Debt

$1.2M

YoY+94.2%

QoQ+84.5%

Nexalin Technology, Inc. Warrant held $1.2M in cash as of Q1 2026; long-term debt is not reported for that period.

Shares Outstanding

21M

YoY+54.7%

QoQ+7.3%

Nexalin Technology, Inc. Warrant had 21M shares outstanding in Q1 2026. This represents an increase of 54.7% from the same quarter a year earlier. Against the prior quarter it is up 7.3%.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

87.8%

YoY+20.9pp

QoQ+0.1pp

Nexalin Technology, Inc. Warrant's gross margin was 87.8% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 20.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Return on Equity

-72.7%

YoY+12.9pp

QoQ-9.2pp

Nexalin Technology, Inc. Warrant's ROE was -72.7% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 12.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.2 percentage points.

Operating Margin

Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending

$346K

YoY-14.7%

QoQ+54.0%

Nexalin Technology, Inc. Warrant invested $346K in research and development in Q1 2026. This represents a decrease of 14.7% from the same quarter a year earlier. Against the prior quarter it is up 54.0%.

Share Buybacks

Not reported for Q1 2026.

Capital Expenditures

Not reported for Q1 2026.

NXLIW 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.

NXLIW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K/A	FY22	FY21
Revenue	$276K	$302K+78.8%	$169K+52.3%	$111K-91.6%	$1.3M+817.2%	$144K
Cost of Revenue	$50K	$61K+67.7%	$37K+42.5%	$26K-92.9%	$363K+1593.9%	$21K
Gross Profit	$226K	$240K+81.8%	$132K+55.3%	$85K-91.1%	$958K+681.4%	$123K
R&D Expenses	$1.0M	$1.1M-9.0%	$1.2M-38.0%	$1.9M+276.1%	$511K+267.6%	$139K
SG&A Expenses	$4.3M	$4.4M+4.0%	$4.2M+122.9%	$1.9M+27.2%	$1.5M	N/A
Operating Income	-$8.5M	-$8.4M-8.2%	-$7.8M-36.1%	-$5.7M-210.8%	-$1.8M	N/A
EBITDA	N/A	N/A	N/A	-$5.7M-210.8%	-$1.8M	N/A
Interest Expense	-$7K	-$8K-158.1%	-$3K-108.2%	$39K-34.6%	$59K-27.9%	$82K
Net Income	-$8.3M	-$8.2M-8.1%	-$7.6M-63.6%	-$4.6M-173.8%	-$1.7M	N/A
EPS (Basic)	N/A	-$0.50+39.8%	-$0.83-31.7%	-$0.63-110.0%	-$0.30	N/A
EPS (Diluted)	—	-$0.50	-$0.83-31.7%	-$0.63-110.0%	-$0.30	N/A
Diluted Shares (Avg)	N/A	16M	9M+25.3%	7M+32.0%	6M	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$15K-63.5%	$172K+532.5%	$18K-49.6%	$71K+163.0%	$41K-47.9%	$27K+32.4%	$36K+49.4%	$27K-24.5%
Cost of Revenue	$2K-86.6%	$21K+180.5%	$4K-68.9%	$23K+215.1%	$14K+48.1%	$7K+43.3%	$13K+219.5%	$7K-22.7%
Gross Profit	$13K-52.2%	$151K+666.5%	$14K-39.1%	$48K+143.7%	$27K-60.5%	$20K+28.6%	$23K+15.9%	$20K-25.1%
R&D Expenses	$346K-14.7%	$225K-69.5%	$227K+26.9%	$226K+33.3%	$406K+284.5%	$737K+931.5%	$179K-89.1%	$169K+16.0%
SG&A Expenses	$793K-14.7%	$1.2M-14.4%	$1.4M-21.0%	$894K+49.3%	$929K+92.3%	$1.4M+254.7%	$1.8M-7.6%	$599K+24.9%
Operating Income	-$2.1M-5.4%	-$2.4M+16.1%	-$2.3M+6.5%	-$1.6M-25.0%	-$2.0M-87.3%	-$2.9M-77.0%	-$2.5M-3.8%	-$1.3M-47.9%
EBITDA	-$2.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	-$34+96.9%	-$159+91.3%	-$2K-128.8%	-$5K-7006.1%	-$1K-262.8%	-$2K-109.5%	-$1K-118.8%	-$66-101.2%
Net Income	-$2.1M-5.5%	-$2.4M+16.1%	-$2.3M+7.0%	-$1.6M-23.1%	-$2.0M-91.0%	-$2.8M-262.9%	-$2.4M-6.6%	-$1.3M-56.2%
EPS (Basic)	-$0.11+26.7%	N/A	-$0.13+43.5%	-$0.10+41.2%	-$0.15-7.1%	N/A	-$0.23+25.8%	-$0.17-54.5%
EPS (Diluted)	-$0.11+26.7%	N/A	-$0.13	-$0.10	-$0.15	N/A	-$0.23+25.8%	-$0.17-54.5%
Diluted Shares (Avg)	20M+48.9%	N/A	18M	16M	13M	N/A	11M+46.3%	7M+2.9%

Not reported in any period shown, so not listed: Income Tax.

NXLIW Balance Sheet

NXLIW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K/A	FY22	FY21
Total Assets	$4.6M+9.8%	$4.2M+16.3%	$3.6M-51.1%	$7.4M+886.1%	$754K
Current Assets	$4.3M+8.5%	$4.0M+15.5%	$3.4M-53.8%	$7.4M+886.6%	$753K
Cash & Equivalents	$655K+14.0%	$574K-1.0%	$580K+256.5%	$163K-75.4%	$662K
Short-Term Investments	$3.1M	N/A	N/A	N/A	N/A
Inventory	$131K-24.7%	$175K+11.6%	$156K+1.3%	$154K+391.5%	$31K
Accounts Receivable	$82K+525.4%	$13K+39.2%	$9K+92.2%	$5K-70.1%	$16K
Total Liabilities	$887K+62.3%	$547K+28.5%	$425K-78.2%	$2.0M-19.8%	$2.4M
Current Liabilities	$887K+62.3%	$547K+28.5%	$425K-78.2%	$1.9M-17.5%	$2.4M
Non-Current Liabilities	$0	$0	$0-100.0%	$4K-93.8%	$72K
Total Equity	$3.7M+2.0%	$3.7M+14.6%	$3.2M-41.5%	$5.5M+425.7%	-$1.7M
Retained Earnings	-$92.9M-9.7%	-$84.6M-9.9%	-$77.0M-6.4%	-$72.4M-2.4%	-$70.7M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$3.7M+27.4%	$4.6M+9.8%	$5.1M-2.5%	$6.6M+319.9%	$2.9M+2.3%	$4.2M+16.3%	$5.3M+18.6%	$1.6M-69.8%
Current Assets	$3.3M+25.6%	$4.3M+8.5%	$4.8M-1.8%	$6.3M+430.3%	$2.6M+2.2%	$4.0M+15.5%	$4.9M+15.1%	$1.2M-76.9%
Cash & Equivalents	$1.2M+94.2%	$655K+14.0%	$590K+624.7%	$431K-49.2%	$622K+13.9%	$574K-1.0%	$81K-77.5%	$849K+266.3%
Inventory	$179K+2.4%	$131K-24.7%	$160K+1.2%	$173K+19.2%	$175K+14.0%	$175K+11.6%	$158K-0.2%	$145K-9.3%
Accounts Receivable	$43K+197.0%	$82K+525.4%	$8K-47.8%	$60K+410.6%	$14K+295.0%	$13K+39.2%	$15K+4.8%	$12K-18.2%
Total Liabilities	$808K+40.6%	$887K+62.3%	$358K+19.4%	$601K+183.2%	$575K+13.3%	$547K+28.5%	$299K-75.0%	$212K-82.1%
Current Liabilities	$808K+40.6%	$887K+62.3%	$358K+19.4%	$601K+183.2%	$575K+13.3%	$547K+28.5%	$299K-75.0%	$212K-82.1%
Non-Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0
Total Equity	$2.9M+24.1%	$3.7M+2.0%	$4.8M-3.8%	$6.0M+341.4%	$2.3M-0.1%	$3.7M+14.6%	$5.0M+53.2%	$1.4M-66.2%
Retained Earnings	-$95.0M-9.6%	-$92.9M-9.7%	-$90.5M-10.6%	-$88.2M-11.2%	-$86.6M-11.0%	-$84.6M-9.9%	-$81.8M-7.3%	-$79.4M-7.3%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.

NXLIW Cash Flow Statement

NXLIW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K/A	FY22	FY21
Operating Cash Flow	-$5.2M	-$5.0M-25.7%	-$3.9M-2.8%	-$3.8M-73.1%	-$2.2M-105.8%	-$1.1M
Depreciation & Amortization	N/A	N/A	N/A	$503-6.0%	$535-0.4%	$537
Stock-Based Compensation	N/A	$3.1M-12.3%	$3.6M+47.5%	$2.4M+791.6%	$271K-94.0%	$4.5M
Investing Cash Flow	-$96K	-$132K+77.1%	-$578K-113.0%	$4.5M+165.5%	-$6.8M	N/A
Financing Cash Flow	N/A	$5.2M+14.5%	$4.5M+2358.1%	-$200K-102.3%	$8.5M+412.7%	$1.7M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$1.7M-20.1%	-$1.1M-1.2%	-$1.5M-83.2%	-$917K+26.4%	-$1.4M-86.9%	-$1.1M-13.0%	-$800K-14.1%	-$1.2M-52.8%
Depreciation & Amortization	$4K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Stock-Based Compensation	$479K-24.8%	N/A	N/A	N/A	$637K+294.7%	N/A	N/A	N/A
Investing Cash Flow	$1.5M+2.4%	$689K-57.7%	$1.6M+136.2%	-$3.9M-353.1%	$1.5M+102.1%	$1.6M+33.1%	-$4.5M-639.7%	$1.5M+77.6%
Financing Cash Flow	$756K	$524K	$0	N/A	N/A	$0	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

NXLIW 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.

NXLIW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K/A	FY22	FY21
Gross Margin	79.7%+1.3pp	78.3%+1.5pp	76.8%+4.3pp	72.5%-12.6pp	85.1%
Operating Margin	-2781.7%	-4596.1%	-5143.5%	-138.7%	N/A
Net Margin	-2725.8%	-4508.7%	-4197.6%	-128.5%	N/A
Return on Equity	-219.4%-12.4pp	-206.9%-62.0pp	-145.0%-114.0pp	-31.0%	N/A
Return on Assets	-177.4%+2.8pp	-180.2%-52.2pp	-128.0%-105.2pp	-22.8%	N/A
Current Ratio	4.85-2.4x	7.25-0.8x	8.06+4.3x	3.81+3.5x	0.32
Debt-to-Equity	0.24+0.1x	0.150.0x	0.13-0.2x	0.36	N/A
Asset Turnover	0.070.0x	0.040.0x	0.03-0.1x	0.180.0x	0.19

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	87.8%+20.9pp	87.8%+15.4pp	78.3%+13.5pp	67.7%-5.3pp	66.9%-21.4pp	72.4%-2.1pp	64.8%-18.8pp	73.0%-0.6pp
Operating Margin	-14179.9%	-1403.9%	-12924.3%	-2296.2%	-4903.6%	-10579.5%	-6962.1%	-4832.4%
Net Margin	-14025.7%	-1382.6%	-12542.4%	-2239.7%	-4847.8%	-10424.5%	-6794.9%	-4785.7%
Return on Equity	-72.7%+12.9pp	-63.4%+13.7pp	-47.7%+1.6pp	-26.5%+68.6pp	-85.5%-40.8pp	-77.1%-52.7pp	-49.4%+21.6pp	-95.1%-74.5pp
Return on Assets	-56.8%+11.8pp	-51.3%+15.8pp	-44.4%+2.2pp	-24.1%+58.1pp	-68.6%-31.8pp	-67.1%-45.6pp	-46.6%+5.2pp	-82.2%-66.3pp
Current Ratio	4.07-0.5x	4.85-2.4x	13.47-2.9x	10.44+4.9x	4.56-0.5x	7.25-0.8x	16.39+12.8x	5.57+1.3x
Debt-to-Equity	0.280.0x	0.24+0.1x	0.070.0x	0.10-0.1x	0.250.0x	0.150.0x	0.06-0.3x	0.16-0.1x
Asset Turnover	0.000.0x	0.040.0x	0.000.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.020.0x

Not reported in any period shown, so not listed: FCF Margin.

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: Operating Margin, Net Margin.

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.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Nexalin Technology, Inc. Warrant NXLIW	FY2025	$302K	-$8.2M	N/A	N/A	—
Ainos, Inc. Warrants AIMDW	FY2025	$124K	-$14.8M	N/A	N/A	—
Inspira Technologies Oxy B.H.N. Ltd. Warrant IINNW	FY2025	$289K	-$13.2M	N/A	N/A	—
Bone Biologics Corp Warrants BBLGW	FY2025	N/A	-$3.1M	N/A	N/A	—
HeartSciences Inc. Warrant HSCSW	FY2026	$4K	-$9.1M	N/A	N/A	—

Where Nexalin Technology, Inc. Warrant Ranks

Frequently Asked Questions

What is Nexalin Technology, Inc. Warrant's annual revenue?

Nexalin Technology, Inc. Warrant (NXLIW) reported $302K in total revenue for fiscal year 2025. This represents a 78.8% 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 Nexalin Technology, Inc. Warrant's revenue growing?

Nexalin Technology, Inc. Warrant (NXLIW) revenue grew by 78.8% year-over-year, from $169K to $302K in fiscal year 2025.

Is Nexalin Technology, Inc. Warrant profitable?

No, Nexalin Technology, Inc. Warrant (NXLIW) reported a net income of -$8.2M in fiscal year 2025.

What is Nexalin Technology, Inc. Warrant's gross margin?

Nexalin Technology, Inc. Warrant (NXLIW) had a gross margin of 79.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Nexalin Technology, Inc. Warrant's return on equity (ROE)?

Nexalin Technology, Inc. Warrant (NXLIW) has a return on equity of -219.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Nexalin Technology, Inc. Warrant's operating cash flow?

Nexalin Technology, Inc. Warrant (NXLIW) recorded an outflow of $5.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Nexalin Technology, Inc. Warrant's total assets?

Nexalin Technology, Inc. Warrant (NXLIW) had $4.6M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Nexalin Technology, Inc. Warrant spend on research and development?

Nexalin Technology, Inc. Warrant (NXLIW) invested $1.1M in research and development during fiscal year 2025.

How many shares does Nexalin Technology, Inc. Warrant have outstanding?

Nexalin Technology, Inc. Warrant (NXLIW) had 19M shares outstanding as of fiscal year 2025.

What is Nexalin Technology, Inc. Warrant's current ratio?

Nexalin Technology, Inc. Warrant (NXLIW) had a current ratio of 4.85 as of fiscal year 2025, which is generally considered healthy.

What is Nexalin Technology, Inc. Warrant's debt-to-equity ratio?

Nexalin Technology, Inc. Warrant (NXLIW) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Nexalin Technology, Inc. Warrant's return on assets (ROA)?

Nexalin Technology, Inc. Warrant (NXLIW) had a return on assets of -177.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Nexalin Technology, Inc. Warrant's Piotroski F-Score?

Nexalin Technology, Inc. Warrant (NXLIW) has a Piotroski F-Score of 4 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 Nexalin Technology, Inc. Warrant's earnings high quality?

Nexalin Technology, Inc. Warrant (NXLIW) reported a net loss of $8.2M while operations used $5.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

Can Nexalin Technology, Inc. Warrant cover its interest payments?

Nexalin Technology, Inc. Warrant (NXLIW) reported an operating loss of $8.4M against $8K 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.