P2 Solar Financials
This page shows P2 Solar (PTOS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Financial Health Signals
P2 Solar passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, P2 Solar generates $1.99 in operating cash flow (-$69K OCF vs -$34K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
P2 Solar earns $-3.4 in operating income for every $1 of interest expense (-$103K vs $31K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
P2 Solar generated $26K in revenue in fiscal year 2025. This represents a decrease of 84.1% from the prior year.
P2 Solar reported -$34K in net income in fiscal year 2025. This represents an increase of 76.8% from the prior year.
P2 Solar held $0 in cash against $0 in long-term debt as of fiscal year 2025.
P2 Solar had 127M shares outstanding in fiscal year 2025. This represents an increase of 86.9% from the prior year.
P2 Solar's gross margin was 83.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 43.1 percentage points from the prior year.
P2 Solar's operating margin was -391.7% in fiscal year 2025, reflecting core business profitability. This is down 322.5 percentage points from the prior year.
P2 Solar's net profit margin was -130.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 41.5 percentage points from the prior year.
PTOS Income Statement
| Metric | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $4K-49.7% | $7K-52.9% | $16K-29.6% | $22K-76.0% | $92K+132.9% | $40K | $0 |
| Cost of Revenue | N/A | $0-100.0% | $4K+1327.1% | $292-98.8% | $24K-52.7% | $50K+178.1% | $18K | $0 |
| Gross Profit | N/A | $4K+16.0% | $3K-79.2% | $15K+1167.4% | -$1K-103.4% | $43K+95.7% | $22K | $0 |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | $5K-11.9% | $6K-14.2% | $6K-70.4% | $22K+103.4% | $11K+94.5% | $6K+545.0% | $853 |
| Operating Income | N/A | -$20K+43.3% | -$35K-78.2% | -$20K+57.7% | -$46K-174.0% | -$17K+47.6% | -$32K-35.4% | -$24K |
| Interest Expense | N/A | $8K | N/A | $8K+0.6% | $8K+2.9% | $8K+1.8% | $8K+1.7% | $8K |
| Income Tax | N/A | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | N/A | -$78K-145.4% | -$32K+10.2% | -$36K-2.4% | -$35K+16.1% | -$41K-60.8% | -$26K+49.9% | -$51K |
| EPS (Diluted) | N/A | $0.00 | $0.00 | N/A | $0.00 | $0.00 | N/A | N/A |
PTOS Balance Sheet
| Metric | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $103K+0.4% | $102K-0.8% | $103K-2.7% | $106K+141.7% | $44K-29.2% | $62K+73.3% | $36K | N/A |
| Current Assets | $12K+3.7% | $12K-6.1% | $13K-18.2% | $16K-61.5% | $41K-30.8% | $59K+80.4% | $33K | N/A |
| Cash & Equivalents | $0 | $0-100.0% | $235-93.7% | $4K+1350.8% | $256-99.3% | $35K+248.0% | $10K+98.3% | $5K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $470.0% | $47-6.0% | $50+2.0% | $49-99.8% | $28K+129.0% | $12K-12.6% | $14K | N/A |
| Goodwill | $90K0.0% | $90K0.0% | $90K0.0% | $90K+2748.9% | $3K0.0% | $3K0.0% | $3K | N/A |
| Total Liabilities | $1.1M-43.3% | $2.0M-2.2% | $2.0M+2.8% | $2.0M+4.4% | $1.9M+3.1% | $1.8M+1.7% | $1.8M | N/A |
| Current Liabilities | $1.0M-45.1% | $1.9M-2.2% | $1.9M+3.5% | $1.9M-0.3% | $1.9M+3.1% | $1.8M+1.7% | $1.8M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.0M+45.7% | -$1.9M+2.2% | -$1.9M-3.1% | -$1.8M-1.1% | -$1.8M-4.3% | -$1.8M-0.3% | -$1.8M-3.4% | -$1.7M |
| Retained Earnings | -$8.1M+1.4% | -$8.3M-1.0% | -$8.2M-0.4% | -$8.1M-1.0% | -$8.1M-0.4% | -$8.0M-0.5% | -$8.0M | N/A |
PTOS Cash Flow Statement
| Metric | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8K+77.2% | -$36K-125.0% | -$16K-82.4% | -$9K+62.0% | -$23K-445.5% | $7K+510.6% | -$2K-883.1% | $207 |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $13K+160.6% | $5K-85.6% | $35K+497.8% | -$9K-327.4% | -$2K-122.8% | $9K-36.5% | $14K+21.1% | $12K |
| 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 |
PTOS Financial Ratios
| Metric | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 100.0%+56.7pp | 43.3%-54.8pp | 98.1%+104.6pp | -6.5%-52.5pp | 46.0%-8.8pp | 54.8% | N/A |
| Operating Margin | N/A | -534.4%-60.5pp | -473.8%-348.6pp | -125.3%+83.1pp | -208.4%-190.1pp | -18.3%+62.9pp | -81.1% | N/A |
| Net Margin | N/A | -2121.9%-1687.2pp | -434.8%-206.7pp | -228.0%-71.3pp | -156.8%-111.9pp | -44.9%+20.1pp | -65.0% | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -76.7%-45.7pp | -31.0%+2.6pp | -33.6%+45.7pp | -79.3%-12.4pp | -66.9%+5.2pp | -72.1% | N/A |
| Current Ratio | 0.010.0 | 0.010.0 | 0.010.0 | 0.01-0.0 | 0.02-0.0 | 0.03+0.0 | 0.02 | N/A |
| Debt-to-Equity | -1.10-0.0 | -1.050.0 | -1.050.0 | -1.06-0.0 | -1.02+0.0 | -1.04-0.0 | -1.02 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$1.0M), 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 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is P2 Solar's annual revenue?
P2 Solar (PTOS) reported $26K in total revenue for fiscal year 2025. This represents a -84.1% 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 P2 Solar's revenue growing?
P2 Solar (PTOS) revenue declined by 84.1% year-over-year, from $166K to $26K in fiscal year 2025.
Is P2 Solar profitable?
No, P2 Solar (PTOS) reported a net income of -$34K in fiscal year 2025, with a net profit margin of -130.7%.
What is P2 Solar's earnings per share (EPS)?
P2 Solar (PTOS) reported diluted earnings per share of $0.00 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.
What is P2 Solar's gross margin?
P2 Solar (PTOS) had a gross margin of 83.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is P2 Solar's operating margin?
P2 Solar (PTOS) had an operating margin of -391.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is P2 Solar's net profit margin?
P2 Solar (PTOS) had a net profit margin of -130.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is P2 Solar's operating cash flow?
P2 Solar (PTOS) generated -$69K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are P2 Solar's total assets?
P2 Solar (PTOS) had $103K in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does P2 Solar have outstanding?
P2 Solar (PTOS) had 127M shares outstanding as of fiscal year 2025.
What is P2 Solar's current ratio?
P2 Solar (PTOS) had a current ratio of 0.01 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is P2 Solar's debt-to-equity ratio?
P2 Solar (PTOS) had a debt-to-equity ratio of -1.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is P2 Solar's return on assets (ROA)?
P2 Solar (PTOS) had a return on assets of -33.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is P2 Solar's cash runway?
Based on fiscal year 2025 data, P2 Solar (PTOS) had $0 in cash against an annual operating cash burn of $69K. 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.
Why is P2 Solar's debt-to-equity ratio negative or unusual?
P2 Solar (PTOS) has negative shareholder equity of -$1.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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.
What is P2 Solar's Piotroski F-Score?
P2 Solar (PTOS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are P2 Solar's earnings high quality?
P2 Solar (PTOS) has an earnings quality ratio of 1.99x, 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.
Can P2 Solar cover its interest payments?
P2 Solar (PTOS) has an interest coverage ratio of -3.4x, 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.