Nexalin Tech Financials
Nexalin Tech (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).
Development-stage economics remain dominated by R&D spending and operating cash consumption, despite revenue recovery and improving reported operating margins.
Revenue nearly doubled in FY2025 while gross margin remained near80% , yet the operating loss deepened; added sales have not absorbed the company’s operating cost base. Operating cash flow moved from-$3.8M in FY2023 to-$5.0M in FY2025, showing that improved reported margins have not yet become better cash conversion. That is a scale problem, not simply a margin problem: gross profit rose, but development and overhead costs remained far larger than the revenue base.
FY2025 R&D spending was
FY2025 financing cash flow of
Financial Health Signals
Nexalin Tech 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.
Nexalin Tech 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.
Nexalin Tech 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.
Nexalin Tech 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
Earnings & Revenue
Nexalin Tech generated $302K in revenue in fiscal year 2025. This represents an increase of 78.8% from the prior year.
Nexalin Tech reported -$8.2M in net income in fiscal year 2025. This represents a decrease of 8.1% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Nexalin Tech held $655K in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Nexalin Tech's gross margin was 79.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.
Nexalin Tech's ROE was -219.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.4 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Nexalin Tech invested $1.1M in research and development in fiscal year 2025. This represents a decrease of 9.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
NXLIW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15K-91.3% | $172K+847.1% | $18K-74.3% | $71K+72.1% | $41K+50.9% | $27K-24.6% | $36K+34.2% | $27K |
| Cost of Revenue | $2K-91.4% | $21K+432.6% | $4K-82.7% | $23K+68.4% | $14K+80.9% | $7K-40.9% | $13K+75.2% | $7K |
| Gross Profit | $13K-91.3% | $151K+962.4% | $14K-70.3% | $48K+73.9% | $27K+39.5% | $20K-15.7% | $23K+19.1% | $20K |
| R&D Expenses | $346K+54.0% | $225K-0.7% | $227K+0.3% | $226K-44.4% | $406K-44.9% | $737K+312.9% | $179K+5.4% | $169K |
| SG&A Expenses | $793K-31.4% | $1.2M-18.7% | $1.4M+58.9% | $894K-3.8% | $929K-31.2% | $1.4M-24.9% | $1.8M+200.1% | $599K |
| Operating Income | -$2.1M+12.2% | -$2.4M-2.9% | -$2.3M-44.7% | -$1.6M+19.4% | -$2.0M+30.1% | -$2.9M-14.6% | -$2.5M-93.4% | -$1.3M |
| Interest Expense | -$34+78.6% | -$159+93.1% | -$2K+51.2% | -$5K-325.2% | -$1K+39.5% | -$2K-82.3% | -$1K-1415.2% | -$66 |
| Net Income | -$2.1M+11.8% | -$2.4M-4.4% | -$2.3M-44.0% | -$1.6M+20.5% | -$2.0M+29.8% | -$2.8M-15.7% | -$2.4M-90.6% | -$1.3M |
| EPS (Diluted) | -$0.11 | N/A | -$0.13-30.0% | -$0.10+33.3% | -$0.15 | N/A | -$0.23-35.3% | -$0.17 |
Not reported in any period shown, so not listed: Income Tax.
NXLIW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.7M-20.3% | $4.6M-9.6% | $5.1M-21.9% | $6.6M+126.3% | $2.9M-31.3% | $4.2M-19.7% | $5.3M+236.3% | $1.6M |
| Current Assets | $3.3M-23.5% | $4.3M-10.8% | $4.8M-23.2% | $6.3M+139.2% | $2.6M-33.8% | $4.0M-19.3% | $4.9M+315.1% | $1.2M |
| Cash & Equivalents | $1.2M+84.5% | $655K+11.0% | $590K+36.8% | $431K-30.7% | $622K+8.3% | $574K+605.6% | $81K-90.4% | $849K |
| Inventory | $179K+36.5% | $131K-17.9% | $160K-7.4% | $173K-1.3% | $175K+0.4% | $175K+10.2% | $158K+9.1% | $145K |
| Accounts Receivable | $43K-47.3% | $82K+929.3% | $8K-86.8% | $60K+313.3% | $14K+11.0% | $13K-14.0% | $15K+29.4% | $12K |
| Total Liabilities | $808K-8.9% | $887K+148.2% | $358K-40.5% | $601K+4.5% | $575K+5.1% | $547K+82.6% | $299K+41.2% | $212K |
| Current Liabilities | $808K-8.9% | $887K+148.2% | $358K-40.5% | $601K+4.5% | $575K+5.1% | $547K+82.6% | $299K+41.2% | $212K |
| Total Equity | $2.9M-23.0% | $3.7M-21.4% | $4.8M-20.0% | $6.0M+156.4% | $2.3M-36.7% | $3.7M-25.9% | $5.0M+267.0% | $1.4M |
| Retained Earnings | -$95.0M-2.3% | -$92.9M-2.6% | -$90.5M-2.6% | -$88.2M-1.8% | -$86.6M-2.3% | -$84.6M-3.5% | -$81.8M-3.1% | -$79.4M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
NXLIW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M-49.2% | -$1.1M+21.7% | -$1.5M-59.9% | -$917K+35.7% | -$1.4M-25.7% | -$1.1M-41.8% | -$800K+35.8% | -$1.2M |
| Investing Cash Flow | $1.5M+119.1% | $689K-57.6% | $1.6M+141.5% | -$3.9M-366.0% | $1.5M-9.4% | $1.6M+136.3% | -$4.5M-389.4% | $1.5M |
| Financing Cash Flow | $756K+44.5% | $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.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.8%+0.1pp | 87.8%+9.5pp | 78.3%+10.6pp | 67.7%+0.7pp | 66.9%-5.5pp | 72.4%+7.6pp | 64.8%-8.2pp | 73.0% |
| 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%-9.2pp | -63.4%-15.7pp | -47.7%-21.2pp | -26.5%+59.0pp | -85.5%-8.4pp | -77.1%-27.7pp | -49.4%+45.7pp | -95.1% |
| Return on Assets | -56.8%-5.5pp | -51.3%-6.9pp | -44.4%-20.3pp | -24.1%+44.5pp | -68.6%-1.5pp | -67.1%-20.5pp | -46.6%+35.6pp | -82.2% |
| Current Ratio | 4.07-0.8x | 4.85-8.6x | 13.47+3.0x | 10.44+5.9x | 4.56-2.7x | 7.25-9.1x | 16.39+10.8x | 5.57 |
| Debt-to-Equity | 0.280.0x | 0.24+0.2x | 0.070.0x | 0.10-0.1x | 0.25+0.1x | 0.15+0.1x | 0.06-0.1x | 0.16 |
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.
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Where Nexalin Tech Ranks
Frequently Asked Questions
What is Nexalin Tech's annual revenue?
Nexalin Tech (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 Tech's revenue growing?
Nexalin Tech (NXLIW) revenue grew by 78.8% year-over-year, from $169K to $302K in fiscal year 2025.
Is Nexalin Tech profitable?
No, Nexalin Tech (NXLIW) reported a net income of -$8.2M in fiscal year 2025.
What is Nexalin Tech's gross margin?
Nexalin Tech (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 Tech's return on equity (ROE)?
Nexalin Tech (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 Tech's operating cash flow?
Nexalin Tech (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 Tech's total assets?
Nexalin Tech (NXLIW) had $4.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Nexalin Tech spend on research and development?
Nexalin Tech (NXLIW) invested $1.1M in research and development during fiscal year 2025.
What is Nexalin Tech's current ratio?
Nexalin Tech (NXLIW) had a current ratio of 4.85 as of fiscal year 2025, which is generally considered healthy.
What is Nexalin Tech's debt-to-equity ratio?
Nexalin Tech (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 Tech's return on assets (ROA)?
Nexalin Tech (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 Tech's Piotroski F-Score?
Nexalin Tech (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 Tech's earnings high quality?
Nexalin Tech (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 Tech cover its interest payments?
Nexalin Tech (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.