Stardust Power Inc. Warrant (SDSTW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SDSTW SEC filings page.
This page shows Stardust Power Inc. Warrant (SDSTW) financial statements, including the 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).
External financing, not operating cash generation, remains the dominant mechanic while losses and balance-sheet pressure moderate in FY2025.
The near match between operating cash flow of-$8.3M and free cash flow of-$8.3M indicates that the cash shortfall is primarily operating rather than driven by reinvestment. With reported capital expenditures of only$4K while financing supplied$14.2M , external capital bridged cash needs that operations did not fund.
Operating performance improved: the operating loss narrowed from
The balance sheet became less burdened as total liabilities fell from
Financial Health Signals
Stardust Power 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.
Stardust Power Inc. Warrant passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass.
Stardust Power Inc. Warrant reported a net loss of $3.8M while operations used $8.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Stardust Power Inc. Warrant reported an operating loss of $16.1M against $422 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
Stardust Power Inc. Warrant's EBITDA was -$3.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.2% from the same quarter a year earlier. Against the prior quarter it is up 2.3%.
Stardust Power Inc. Warrant reported -$3.9M in net income in Q2 2026. This represents a decrease of 5.4% from the same quarter a year earlier. Against the prior quarter it is up 25.4%.
Stardust Power Inc. Warrant earned -$0.35 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 34.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Stardust Power Inc. Warrant recorded an outflow of $2.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is up 5.4%.
Stardust Power Inc. Warrant held $540K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Stardust Power Inc. Warrant invested $18K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 1421.9%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SDSTW 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $3.9M+28.3% | $4.0M-30.7% | N/A | $3.8M-57.4% | $3.0M+139.6% | $5.7M+365.3% | N/A | $9.0M+1053.7% |
| Operating Income | -$3.9M-28.3% | -$4.0M+30.7% | N/A | -$3.8M+57.4% | -$3.0M-139.6% | -$5.7M-365.3% | N/A | -$9.0M-1053.7% |
| EBITDA | -$3.9M-28.2% | -$4.0M+30.7% | N/A | -$3.8M+57.4% | -$3.0M-139.6% | -$5.7M-365.3% | N/A | -$9.0M |
| Interest Expense | $332K+471.0% | $366K+239.0% | N/A | $11K+31.9% | $58K+7262.7% | $108K+8266.3% | N/A | $9K |
| Net Income | -$3.9M-5.4% | -$5.2M-37.4% | N/A | -$4.5M+55.8% | -$3.7M-37.5% | -$3.8M-172.3% | N/A | -$10.1M-1096.1% |
| EPS (Basic) | -$0.35+40.7% | -$0.53+26.4% | -$0.34+84.2% | -$0.53+76.2% | -$0.59-742.9% | -$0.72-1700.0% | -$2.15 | -$2.23-11050.0% |
| EPS (Diluted) | -$0.35 | -$0.53 | -$0.34 | -$0.53 | -$0.59 | -$0.72 | -$2.15 | -$2.23 |
| Diluted Shares (Avg) | 11M | 10M | N/A | 8M | 6M | 5M | N/A | 5M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.
SDSTW 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.1M-19.9% | $9.4M-17.6% | $11.8M+30.5% | $10.0M+86.7% | $11.3M+483.9% | $11.4M | $9.0M+198.4% | $5.4M-87.4% |
| Current Assets | $909K-75.4% | $1.7M-29.8% | $4.1M+90.8% | $2.4M-27.5% | $3.7M+810.7% | $2.4M | $2.1M-20.9% | $3.3M+4033.8% |
| Cash & Equivalents | $540K-79.3% | $1.2M-22.2% | $3.5M+281.4% | $1.6M-0.1% | $2.6M+306.1% | $1.6M+308.9% | $913K-28.2% | $1.6M+65.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $29K+58.0% | $43K-97.1% | $37K-97.5% | $46K-32.1% | $18K | $1.5M | $1.5M+584.7% | $68K |
| Total Liabilities | $17.3M+13.9% | $17.3M-28.7% | $17.6M-38.1% | $15.2M-18.9% | $15.2M+57.5% | $24.3M | $28.4M+320.3% | $18.7M-59.0% |
| Current Liabilities | $14.9M+0.2% | $13.9M-38.7% | $14.3M-42.9% | $14.4M+30.4% | $14.9M | $22.6M | $25.0M+1522.3% | $11.0M+191.7% |
| Non-Current Liabilities | $2.4M+728.9% | $3.4M+108.5% | $3.3M-3.1% | $796K-89.6% | $285K+113.3% | $1.7M | $3.4M-34.6% | $7.7M-81.6% |
| Total Equity | -$8.2M-112.0% | -$7.9M+38.7% | -$5.8M+70.0% | -$5.1M+61.5% | -$3.9M+49.6% | -$12.8M-152.9% | -$19.4M-419.1% | -$13.3M-370.4% |
| Retained Earnings | -$77.5M-28.8% | -$73.6M-30.4% | -$68.3M-29.9% | -$64.6M-50.0% | -$60.1M-152.7% | -$56.4M | -$52.6M-1287.1% | -$43.1M-200.9% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
SDSTW 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M-19.9% | -$2.1M+28.2% | -$1.7M-43.2% | -$2.1M+67.9% | -$1.6M-38.1% | -$2.9M-207.6% | -$1.2M-307.3% | -$6.4M-10583.7% |
| Depreciation & Amortization | $2K+103.9% | $992+29.8% | $849+13.4% | $781+37.3% | $772+141.3% | $764+313.0% | $749 | $569 |
| Stock-Based Compensation | N/A | $1.5M-48.9% | N/A | N/A | N/A | $3.0M+4856.9% | N/A | N/A |
| Capital Expenditures | $18K | $1K | N/A | N/A | N/A | N/A | $4K | $4K |
| Free Cash Flow | -$2.0M | -$2.1M | N/A | N/A | N/A | N/A | -$1.2M | -$6.4M |
| Investing Cash Flow | -$19K+98.5% | -$175K+81.8% | -$399K+88.6% | -$785K-0.7% | -$1.3M-152.7% | -$960K-30571.7% | -$3.5M-485.4% | -$779K-159.6% |
| Financing Cash Flow | $1.3M-67.6% | -$4K-100.1% | $4.0M-0.6% | $1.8M-77.6% | $3.9M+102.6% | $4.5M+8194.7% | $4.0M+340.9% | $8.1M+2191.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SDSTW 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$5.8M), 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 (0.29), 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 |
|---|---|---|---|---|---|---|
| Stardust Power Inc. Warrant SDSTW | FY2025 | N/A | -$3.8M | N/A | $4.4M | — |
| Dragonfly Energy Holdings Corp. Warrant DFLIW | FY2025 | $58.6M | -$69.9M | N/A | N/A | 38/100 |
| E-Power Inc. EPOW | FY2025 | $46.4M | -$16.6M | -35.8% | $12.4M | 21/100 |
| Asia Pacific Wire & Cable Corp APWC | FY2025 | $489.7M | $5.2M | 1.1% | $56.1M | 29/100 |
| Flux Power Holdings, Inc. FLUX | FY2026 | $42.1M | -$7.4M | -17.7% | $12.4M | 19/100 |
| ESS Tech, Inc. GWH | FY2025 | $1.6M | $63.4M | N/A | $15.2M | 40/100 |
Where Stardust Power Inc. Warrant Ranks
Frequently Asked Questions
Is Stardust Power Inc. Warrant profitable?
No, Stardust Power Inc. Warrant (SDSTW) reported a net income of -$3.8M in fiscal year 2025.
What is Stardust Power Inc. Warrant's EBITDA?
Stardust Power Inc. Warrant (SDSTW) had EBITDA of -$16.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Stardust Power Inc. Warrant's free cash flow?
Stardust Power Inc. Warrant (SDSTW) recorded an outflow of $8.3M in free cash flow during fiscal year 2025. This represents a 14.9% 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 Stardust Power Inc. Warrant's operating cash flow?
Stardust Power Inc. Warrant (SDSTW) recorded an outflow of $8.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Stardust Power Inc. Warrant's total assets?
Stardust Power Inc. Warrant (SDSTW) had $11.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Stardust Power Inc. Warrant's capital expenditures?
Stardust Power Inc. Warrant (SDSTW) invested $4K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Stardust Power Inc. Warrant's current ratio?
Stardust Power Inc. Warrant (SDSTW) had a current ratio of 0.29 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Stardust Power Inc. Warrant's return on assets (ROA)?
Stardust Power Inc. Warrant (SDSTW) had a return on assets of -32.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Stardust Power Inc. Warrant's P/E ratio?
Stardust Power Inc. Warrant (SDSTW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $4.4M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Stardust Power Inc. Warrant's price-to-sales ratio?
Stardust Power Inc. Warrant (SDSTW) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $4.4M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Stardust Power Inc. Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Stardust Power Inc. Warrant (SDSTW) held $3.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.3M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Stardust Power Inc. Warrant's debt-to-equity ratio negative or not reported?
Stardust Power Inc. Warrant (SDSTW) has negative shareholder equity of -$5.8M 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.
What is Stardust Power Inc. Warrant's Piotroski F-Score?
Stardust Power Inc. Warrant (SDSTW) has a Piotroski F-Score of 3 out of 6 computable signals; 3 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 Stardust Power Inc. Warrant's earnings high quality?
Stardust Power Inc. Warrant (SDSTW) reported a net loss of $3.8M while operations used $8.3M 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 Stardust Power Inc. Warrant cover its interest payments?
Stardust Power Inc. Warrant (SDSTW) reported an operating loss of $16.1M against $422 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.