Quince Financials

QNCX

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

1/9

Quince passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.56x

For every $1 of reported earnings, Quince generates $0.56 in operating cash flow (-$31.9M OCF vs -$56.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Quince (QNCX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$57.1M

YoY-66.5%

Quince's EBITDA was -$57.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 66.5% from the prior year.

Free Cash Flow

-$32.2M

YoY-74.3%

Quince generated -$32.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 74.3% from the prior year.

Net Income

-$56.8M

YoY-81.1%

Quince reported -$56.8M in net income in fiscal year 2024. This represents a decrease of 81.1% from the prior year.

EPS (Diluted)

$-1.31

YoY-56.0%

Quince earned $-1.31 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 56.0% from the prior year.

Cash & Debt

$6.2M

YoY-70.1%

5Y CAGR-34.4%

Quince held $6.2M in cash against $14.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

44M

YoY+2.4%

5Y CAGR+10.4%

Quince had 44M shares outstanding in fiscal year 2024. This represents an increase of 2.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$18.6M

YoY+96.8%

5Y CAGR-9.3%

Quince invested $18.6M in research and development in fiscal year 2024. This represents an increase of 96.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$257K

YoY+60.6%

5Y CAGR+36.1%

Quince invested $257K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 60.6% from the prior year.

QNCX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$18.6M+96.8%	$9.4M-62.5%	$25.2M-58.6%	$60.8M-0.8%	$61.3M+102.9%	$30.2M
SG&A Expenses	$17.6M-0.6%	$17.7M-32.0%	$26.0M-11.9%	$29.5M+67.9%	$17.6M+96.4%	$9.0M
Operating Income	-$57.3M-65.5%	-$34.6M+33.4%	-$52.0M+42.4%	-$90.3M-14.5%	-$78.9M-101.4%	-$39.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$87K+144.2%	-$197K+30.6%	-$284K	$0	$0	$0
Net Income	-$56.8M-81.1%	-$31.4M+39.2%	-$51.7M+42.6%	-$89.9M-17.0%	-$76.8M-107.8%	-$37.0M
EPS (Diluted)	$-1.31-56.0%	$-0.84+45.5%	$-1.54+49.2%	$-3.03	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$8.1M+23.3%	$6.6M-19.5%	$8.1M+65.7%	$4.9M+18.5%	$4.1M+12.0%	$3.7M	N/A	$1.4M
SG&A Expenses	$3.3M-1.8%	$3.3M-30.2%	$4.8M+31.9%	$3.6M-22.7%	$4.7M-5.6%	$5.0M	N/A	$4.7M
Operating Income	-$13.4M-28.8%	-$10.4M+29.8%	-$14.9M-153.4%	-$5.9M+79.2%	-$28.2M-151.3%	-$11.2M	N/A	-$6.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$46K-168.7%	$67K+42.6%	$47K+261.5%	$13K-63.9%	$36K+16.1%	$31K	N/A	$0
Net Income	-$13.4M+16.2%	-$16.0M-6.8%	-$15.0M-173.7%	-$5.5M+80.2%	-$27.7M-148.7%	-$11.1M	N/A	-$5.4M
EPS (Diluted)	$-0.25+26.5%	$-0.340.0%	$-0.34-161.5%	$-0.13+79.7%	$-0.64-146.2%	$-0.26	N/A	$-0.15

QNCX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$114.5M-31.8%	$167.9M+61.6%	$103.9M-22.0%	$133.2M-29.7%	$189.5M+52.3%	$124.4M
Current Assets	$44.0M-43.1%	$77.4M-17.4%	$93.7M-16.1%	$111.7M-19.0%	$137.9M+30.0%	$106.1M
Cash & Equivalents	$6.2M-70.1%	$20.8M-48.9%	$40.6M+37.8%	$29.5M-55.9%	$66.8M+30.5%	$51.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$0-100.0%	$17.6M	$0	$0	N/A	N/A
Total Liabilities	$84.3M+1.8%	$82.8M+2396.7%	$3.3M-77.3%	$14.6M-14.9%	$17.2M+93.5%	$8.9M
Current Liabilities	$7.3M-24.0%	$9.6M+211.9%	$3.1M-78.4%	$14.2M-16.3%	$17.0M+91.1%	$8.9M
Long-Term Debt	$14.3M+6.6%	$13.4M	$0	N/A	N/A	N/A
Total Equity	$30.1M-64.6%	$85.1M-15.4%	$100.6M-15.2%	$118.6M-31.2%	$172.3M+49.2%	$115.5M
Retained Earnings	-$376.5M-17.8%	-$319.6M-10.9%	-$288.3M-21.8%	-$236.6M-61.3%	-$146.7M-110.1%	-$69.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$109.9M-6.2%	$117.2M+9.5%	$107.1M-6.5%	$114.5M-15.1%	$134.8M-15.4%	$159.3M-5.1%	$167.9M+96.6%	$85.4M
Current Assets	$29.2M-21.8%	$37.3M+10.4%	$33.8M-23.2%	$44.0M-30.6%	$63.4M-9.9%	$70.4M-9.0%	$77.4M-9.1%	$85.2M
Cash & Equivalents	$6.5M-61.7%	$16.8M+116.5%	$7.8M+25.1%	$6.2M-21.3%	$7.9M-63.8%	$21.8M+5.1%	$20.8M-0.3%	$20.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$0	N/A	N/A	$0	$0-100.0%	$17.2M-2.2%	$17.6M	$0
Total Liabilities	$108.8M+3.2%	$105.5M+19.2%	$88.5M+5.0%	$84.3M-4.0%	$87.9M+3.2%	$85.1M+2.8%	$82.8M+3575.8%	$2.3M
Current Liabilities	$26.0M+248.8%	$7.5M-10.6%	$8.4M+14.8%	$7.3M-29.5%	$10.3M+4.9%	$9.8M+2.8%	$9.6M+324.9%	$2.3M
Long-Term Debt	$0-100.0%	$17.0M+11.3%	$15.3M+6.6%	$14.3M+3.5%	$13.8M+2.3%	$13.5M+0.7%	$13.4M	N/A
Total Equity	$1.1M-91.0%	$11.7M-36.8%	$18.6M-38.4%	$30.1M-35.8%	$47.0M-36.7%	$74.2M-12.8%	$85.1M+2.3%	$83.1M
Retained Earnings	-$421.0M-3.3%	-$407.6M-4.1%	-$391.5M-4.0%	-$376.5M-5.0%	-$358.5M-8.4%	-$330.8M-3.5%	-$319.6M-2.9%	-$310.8M

QNCX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$31.9M-74.4%	-$18.3M+58.5%	-$44.0M+30.0%	-$62.9M-23.8%	-$50.8M-52.7%	-$33.3M
Capital Expenditures	$257K+60.6%	$160K+20.3%	$133K-26.1%	$180K+246.2%	$52K-5.5%	$55K
Free Cash Flow	-$32.2M-74.3%	-$18.5M+58.2%	-$44.2M+30.0%	-$63.1M-24.1%	-$50.9M-52.6%	-$33.3M
Investing Cash Flow	$21.9M+480.5%	-$5.8M-132.0%	$18.0M-69.5%	$59.0M+212.4%	-$52.4M-195.4%	-$17.7M
Financing Cash Flow	-$4.8M-3439.2%	$143K-79.8%	$707K-89.6%	$6.8M-94.3%	$118.9M+53.7%	$77.4M
Dividends Paid	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

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$9.9M+13.0%	-$11.4M-18.9%	-$9.6M-27.1%	-$7.6M+13.6%	-$8.7M-4.6%	-$8.4M-37.4%	-$6.1M-26.2%	-$4.8M
Capital Expenditures	$74K-41.3%	$126K-14.9%	$148K+11.3%	$133K+241.0%	$39K0.0%	$39K+62.5%	$24K	$0
Free Cash Flow	-$10.0M+13.3%	-$11.5M-18.4%	-$9.7M-26.9%	-$7.7M+12.5%	-$8.8M-4.6%	-$8.4M-37.5%	-$6.1M-26.7%	-$4.8M
Investing Cash Flow	-$1.8M-129.5%	$6.0M-44.6%	$10.9M+0.3%	$10.9M+318.3%	-$5.0M-155.8%	$8.9M+65.4%	$5.4M+48.3%	$3.6M
Financing Cash Flow	$1.4M-90.5%	$14.4M+16465.5%	$87K	$0-100.0%	$35K-81.6%	$190K+233.3%	$57K+470.0%	$10K
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

QNCX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-49.6%-30.9pp	-18.7%+31.0pp	-49.7%+17.8pp	-67.5%-27.0pp	-40.6%-10.8pp	-29.7%
Current Ratio	6.05-2.0	8.09-22.5	30.55+22.7	7.85-0.3	8.11-3.8	11.93
Debt-to-Equity	0.48+0.3	0.16+0.2	0.00-0.1	0.12+0.0	0.10+0.0	0.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-12.2%+1.5pp	-13.7%+0.4pp	-14.0%-9.7pp	-4.3%+16.2pp	-20.6%-13.6pp	-7.0%	N/A	-6.3%
Current Ratio	1.12-3.9	5.00+1.0	4.05-2.0	6.05-0.1	6.15-1.0	7.16-0.9	8.09-29.7	37.80
Debt-to-Equity	0.00-1.4	1.45+0.6	0.82+0.3	0.48+0.2	0.29+0.1	0.18+0.0	0.16+0.1	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Quince profitable?

No, Quince (QNCX) reported a net income of -$56.8M in fiscal year 2024.

What is Quince's earnings per share (EPS)?

Quince (QNCX) reported diluted earnings per share of $-1.31 for fiscal year 2024. This represents a -56.0% change compared to the previous fiscal year. 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 Quince's EBITDA?

Quince (QNCX) had EBITDA of -$57.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Quince have?

As of fiscal year 2024, Quince (QNCX) had $6.2M in cash and equivalents against $14.3M in long-term debt.

What is Quince's free cash flow?

Quince (QNCX) generated -$32.2M in free cash flow during fiscal year 2024. This represents a -74.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Quince's operating cash flow?

Quince (QNCX) generated -$31.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Quince's total assets?

Quince (QNCX) had $114.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Quince's capital expenditures?

Quince (QNCX) invested $257K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Quince spend on research and development?

Quince (QNCX) invested $18.6M in research and development during fiscal year 2024.

How many shares does Quince have outstanding?

Quince (QNCX) had 44M shares outstanding as of fiscal year 2024.

What is Quince's current ratio?

Quince (QNCX) had a current ratio of 6.05 as of fiscal year 2024, which is generally considered healthy.

What is Quince's debt-to-equity ratio?

Quince (QNCX) had a debt-to-equity ratio of 0.48 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Quince's return on assets (ROA)?

Quince (QNCX) had a return on assets of -49.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Quince's cash runway?

Based on fiscal year 2024 data, Quince (QNCX) had $6.2M in cash against an annual operating cash burn of $31.9M. This gives an estimated cash runway of approximately 2 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 Quince's Piotroski F-Score?

Quince (QNCX) has a Piotroski F-Score of 1 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 Quince's earnings high quality?

Quince (QNCX) has an earnings quality ratio of 0.56x, 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.