Corgi IP Licensing & Royalties ETF (PTNT) Financials
Newest figures come from the 10-K for Q3 FY2026, filed May 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PTNT SEC filings page.
Corgi IP Licensing & Royalties ETF (PTNT) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its 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).
The dominant mechanic is a development-stage model where high gross margins are overwhelmed by operating investment and external financing.
Across FY2022-FY2024, gross margin climbed from85.2% to97.8% , yet operating margin remained deeply negative at-501.0% in FY2024: the constraint is not direct production cost but an expense base far larger than sales. FY2024 operating cash flow of-$31.5M nearly matched free cash flow of-$31.5M , while positive investing and financing cash flows offset that use of cash, showing that reported funding, not internal cash generation, supported the period.
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Assets fell from
Financial Health Signals
Corgi IP Licensing & Royalties ETF does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Corgi IP Licensing & Royalties ETF generated $3.9M in revenue in Q3 2026. Against the prior quarter it is up 3278.8%.
Corgi IP Licensing & Royalties ETF's EBITDA was -$1.6M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.1% from the same quarter a year earlier. Against the prior quarter it is up 78.6%.
Corgi IP Licensing & Royalties ETF reported -$1.4M in net income in Q3 2026. This represents an increase of 70.2% from the same quarter a year earlier. Against the prior quarter it is up 80.3%.
Corgi IP Licensing & Royalties ETF earned -$0.37 per diluted share (EPS) in Q3 2026.
Cash & Balance Sheet
Corgi IP Licensing & Royalties ETF recorded an outflow of $4.5M in free cash flow in Q3 2026, representing a cash shortfall after capex. This represents an increase of 16.8% from the same quarter a year earlier.
Corgi IP Licensing & Royalties ETF held $10.2M in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Margins & Returns
Corgi IP Licensing & Royalties ETF's operating margin was -40.3% in Q3 2026, reflecting core business profitability.
Corgi IP Licensing & Royalties ETF's net profit margin was -36.5% in Q3 2026, showing the share of revenue converted to profit.
Corgi IP Licensing & Royalties ETF's ROE was -13.5% in Q3 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 49.8 percentage points.
Not reported for Q3 2026.
Capital Allocation
Corgi IP Licensing & Royalties ETF invested $3.5M in research and development in Q3 2026. This represents a decrease of 6.3% from the same quarter a year earlier. Against the prior quarter it is down 18.6%.
Corgi IP Licensing & Royalties ETF invested $38K in capex in Q3 2026, funding long-term assets and infrastructure.
Not reported for Q3 2026.
PTNT 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.
| Metric | Q3'2610-K | Q2'2610-Q | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9M | $116K | $8.8M | N/A | $0 | N/A | $0-100.0% | N/A |
| R&D Expenses | $3.5M-6.3% | $4.3M+26.0% | $2.5M-56.0% | N/A | $3.8M-47.6% | $3.4M-38.3% | $5.7M+14.5% | N/A |
| SG&A Expenses | $2.0M+34.6% | $3.1M+85.8% | $1.7M-17.8% | N/A | $1.5M-27.5% | $1.7M-44.5% | $2.0M-36.9% | N/A |
| Operating Income | -$1.6M+67.2% | -$7.3M-180.6% | $4.7M+160.0% | N/A | -$4.8M+47.8% | -$2.6M-322.6% | -$7.8M-27.1% | N/A |
| EBITDA | -$1.6M+67.1% | -$7.3M-188.0% | $4.7M+160.8% | N/A | -$4.8M | -$2.5M | -$7.7M-27.6% | N/A |
| Interest Expense | $1K-29.4% | $498-86.9% | $2K-66.3% | N/A | $2K+43.1% | $4K+136.9% | $6K-45.4% | N/A |
| Net Income | -$1.4M+70.2% | -$7.3M-197.4% | $4.7M+159.8% | N/A | -$4.8M+43.0% | -$2.4M+68.9% | -$7.8M-50.3% | N/A |
| EPS (Basic) | -$0.37+95.9% | -$2.86+51.7% | $4.81+124.4% | N/A | -$9.13 | -$5.92-957.1% | -$19.71-4483.7% | N/A |
| EPS (Diluted) | -$0.37 | -$2.86 | $4.26 | N/A | -$9.13 | -$5.92 | -$19.71 | N/A |
| Diluted Shares (Avg) | 4M | 3M | 1M | N/A | 526,891 | 412,697 | 396,909 | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Income Tax.
PTNT Balance Sheet
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.
| Metric | Q3'2610-K | Q2'2610-Q | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.2M+254.7% | $17.9M+316.0% | $8.6M+152.2% | $3.3M-69.6% | $3.7M-67.3% | $4.3M-68.2% | $3.4M-69.6% | $10.7M-40.1% |
| Current Assets | $12.8M+295.4% | $17.5M+376.0% | $8.4M+220.4% | $2.9M-70.1% | $3.2M-68.5% | $3.7M-70.0% | $2.6M-73.4% | $9.8M-40.1% |
| Cash & Equivalents | $10.2M+303.1% | $14.5M+323.7% | $1.3M-46.6% | $2.6M-73.1% | $2.5M | $3.4M-64.0% | $2.4M-56.8% | $9.5M-13.2% |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% |
| Accounts Receivable | N/A | $1.6M | $6.9M | $0 | N/A | N/A | N/A | $0-100.0% |
| Total Liabilities | $2.6M-74.0% | $6.5M-39.6% | $8.2M-26.0% | $8.0M-25.9% | $10.1M+2.9% | $10.7M-56.4% | $11.1M-31.2% | $10.9M-44.8% |
| Current Liabilities | $2.5M-74.8% | $6.3M-33.8% | $8.2M-16.7% | $8.0M-17.1% | $10.0M+17.8% | $9.6M-14.6% | $9.9M-27.5% | $9.7M-36.2% |
| Non-Current Liabilities | $97K+44.9% | $129K-88.6% | $0-100.0% | $34K-97.2% | $67K-94.8% | $1.1M-91.5% | $1.2M-51.0% | $1.2M-73.6% |
| Total Equity | $10.6M+265.8% | $11.5M+279.7% | $396K+105.2% | -$4.8M-4184.5% | -$6.4M-504.5% | -$6.4M+43.9% | -$7.7M-21.6% | -$111K+94.4% |
| Retained Earnings | -$463.1M-1.4% | -$461.7M-2.1% | -$454.4M-1.1% | -$459.1M-3.9% | -$456.8M-5.4% | -$452.0M-6.3% | -$449.6M-6.7% | -$441.8M-7.2% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.
PTNT Cash Flow 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.
| Metric | Q3'2610-K | Q2'2610-Q | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.4M+17.5% | -$4.8M+0.8% | -$1.6M+76.9% | -$4.1M+36.8% | -$5.4M+37.8% | -$4.8M+53.7% | -$7.0M-18.8% | -$6.5M+32.6% |
| Depreciation & Amortization | $17K-68.2% | $14K-80.0% | $14K-82.2% | N/A | $53K | $72K | $81K-7.5% | N/A |
| Stock-Based Compensation | N/A | N/A | $168K-51.9% | N/A | N/A | $349K-36.6% | $349K-10.6% | N/A |
| Capital Expenditures | $38K | N/A | N/A | $0-100.0% | $0 | N/A | N/A | $5K-90.6% |
| Free Cash Flow | -$4.5M+16.8% | N/A | N/A | -$4.1M+36.9% | -$5.4M+37.8% | N/A | N/A | -$6.5M+32.9% |
| Investing Cash Flow | -$38K | N/A | N/A | $630K+12928.3% | $0 | $2.5M-73.6% | $0-100.0% | -$5K+99.8% |
| Financing Cash Flow | $139K-96.9% | $18.0M+433.3% | $328K+358.5% | $3.5M-41.5% | $4.5M-51.2% | $3.4M-32.1% | -$127K-128.3% | $6.0M+494.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PTNT 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.
| Metric | Q3'2610-K | Q2'2610-Q | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -40.3% | -6315.8% | 52.8% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -36.5% | -6260.0% | 53.0% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -13.5% | -63.3% | 1180.0% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -10.8%+118.2pp | -40.5%+16.1pp | 54.3%+283.4pp | N/A | -129.0%-55.1pp | -56.7%+1.2pp | -229.1%-182.8pp | N/A |
| Current Ratio | 5.04+4.7x | 2.76+2.4x | 1.02+0.8x | 0.36-0.6x | 0.32-0.9x | 0.38-0.7x | 0.26-0.5x | 1.01-0.1x |
| Debt-to-Equity | 0.25 | 0.56 | 20.73 | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.30+0.3x | 0.01 | 1.02+1.0x | N/A | 0.000.0x | N/A | 0.00-0.2x | N/A |
| FCF Margin | -113.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross 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, FCF Margin.
Note: Shareholder equity is negative (-$4.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| Corgi IP Licensing & Royalties ETF PTNT | FY2025 | $0 | N/A | N/A | N/A | — |
| INHIBITOR THERAPTICS INC INTI | FY2025 | N/A | -$3.3M | N/A | $15.2M | — |
| BETTERLIFE PHARMA INC BETRF | FY2018 | N/A | -$121K | N/A | $38.1M | — |
| BIOXYTRAN INC BIXT | FY2025 | N/A | -$2.1M | N/A | $2.4M | — |
Where Corgi IP Licensing & Royalties ETF Ranks
Frequently Asked Questions
What is Corgi IP Licensing & Royalties ETF's annual revenue?
Corgi IP Licensing & Royalties ETF (PTNT) reported $0 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.
How fast is Corgi IP Licensing & Royalties ETF's revenue growing?
Corgi IP Licensing & Royalties ETF (PTNT) revenue declined by 100.0% year-over-year, from $4.5M to $0 in fiscal year 2025.
What are Corgi IP Licensing & Royalties ETF's total assets?
Corgi IP Licensing & Royalties ETF (PTNT) had $3.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Corgi IP Licensing & Royalties ETF's capital expenditures?
Corgi IP Licensing & Royalties ETF (PTNT) reported no capital expenditure during fiscal year 2025.
How much does Corgi IP Licensing & Royalties ETF spend on research and development?
Corgi IP Licensing & Royalties ETF (PTNT) invested $14.9M in research and development during fiscal year 2025.
What is Corgi IP Licensing & Royalties ETF's current ratio?
Corgi IP Licensing & Royalties ETF (PTNT) had a current ratio of 0.36 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Why is Corgi IP Licensing & Royalties ETF's debt-to-equity ratio negative or not reported?
Corgi IP Licensing & Royalties ETF (PTNT) has negative shareholder equity of -$4.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.