Seafarer Expl Corp Financials

SFRX

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

This page shows Seafarer Expl Corp (SFRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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

Financial Profile 0/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Seafarer Expl Corp has an operating margin of -20488.5%, meaning the company retains $-20489 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -15864.3% the prior year.

Growth

Seafarer Expl Corp's revenue declined 15.2% year-over-year, from $19K to $16K. This contraction results in a growth score of 0/100.

Liquidity

Seafarer Expl Corp's current ratio of 0.01 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Seafarer Expl Corp generated -$2.9M in operating cash flow, capex of $58K consumed most of it, leaving -$2.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Seafarer Expl Corp 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), both operating efficiency signals pass.

Earnings Quality Low Quality

0.74x

For every $1 of reported earnings, Seafarer Expl Corp generates $0.74 in operating cash flow (-$2.9M OCF vs -$3.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-9.1x

Seafarer Expl Corp earns $-9.1 in operating income for every $1 of interest expense (-$3.3M vs $369K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$16K

YoY-15.2%

5Y CAGR+3.1%

Seafarer Expl Corp generated $16K in revenue in fiscal year 2024. This represents a decrease of 15.2% from the prior year.

EBITDA

-$3.3M

YoY-9.3%

Seafarer Expl Corp's EBITDA was -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.3% from the prior year.

Free Cash Flow

-$2.9M

Seafarer Expl Corp generated -$2.9M in free cash flow in fiscal year 2024, representing cash available after capex.

Net Income

-$3.9M

YoY-22.5%

Seafarer Expl Corp reported -$3.9M in net income in fiscal year 2024. This represents a decrease of 22.5% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$24K

YoY-96.1%

5Y CAGR-47.9%

10Y CAGR+6.7%

Seafarer Expl Corp held $24K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

8.94B

YoY+7.6%

5Y CAGR+13.4%

10Y CAGR+24.7%

Seafarer Expl Corp had 8.94B shares outstanding in fiscal year 2024. This represents an increase of 7.6% from the prior year.

Gross Margin

N/A

Operating Margin

-20488.5%

YoY-4624.3pp

5Y CAGR-5839.5pp

Seafarer Expl Corp's operating margin was -20488.5% in fiscal year 2024, reflecting core business profitability. This is down 4624.3 percentage points from the prior year.

Net Margin

-23901.8%

YoY-7366.1pp

5Y CAGR-7407.8pp

Seafarer Expl Corp's net profit margin was -23901.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 7366.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$490K

YoY+50.7%

5Y CAGR+2.0%

Seafarer Expl Corp invested $490K in research and development in fiscal year 2024. This represents an increase of 50.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$58K

Seafarer Expl Corp invested $58K in capex in fiscal year 2024, funding long-term assets and infrastructure.

SFRX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$16K-15.2%	$19K+48.3%	$13K-45.4%	$24K+123.7%	$11K-24.1%	$14K
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	$490K+50.7%	$325K+88.1%	$173K-60.7%	$440K-5.1%	$463K+4.4%	$444K
SG&A Expenses	$460K+28.2%	$359K-11.7%	$407K+7.9%	$377K+54.2%	$244K+57.6%	$155K
Operating Income	-$3.3M-9.5%	-$3.1M-25.8%	-$2.4M-3.4%	-$2.3M+13.1%	-$2.7M-31.6%	-$2.1M
Interest Expense	-$369K-251.6%	-$105K-68.3%	-$62K+64.9%	-$177K+38.1%	-$287K-33.6%	-$215K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.9M-22.5%	-$3.2M-21.6%	-$2.6M+0.3%	-$2.6M+1.3%	-$2.7M-15.2%	-$2.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'25	Q1'25	Q3'24	Q3'24	Q3'24	Q1'24	Q4'23
Revenue	N/A	N/A	$0-100.0%	$1K-78.8%	$7K+89.0%	$4K+10.4%	$3K	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	$184K+36.6%	$135K-12.5%	$154K	N/A	$110K-29.8%	$157K+19.0%	$132K	N/A
SG&A Expenses	$76K-20.2%	$95K+9.6%	$87K	N/A	$101K-5.6%	$107K-7.6%	$115K	N/A
Operating Income	-$644K-6.5%	-$604K+7.9%	-$656K-18.3%	-$554K+24.4%	-$733K+10.9%	-$823K+25.0%	-$1.1M	N/A
Interest Expense	-$37K-7.3%	-$34K+21.3%	-$43K+36.6%	-$68K-89.0%	-$36K+70.6%	-$123K-106.8%	-$59K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$680K-5.6%	-$644K+11.9%	-$731K-9.9%	-$666K+13.4%	-$769K+21.6%	-$981K+25.3%	-$1.3M	N/A
EPS (Diluted)	$0.00	$0.00	$0.00	N/A	$0.00	$0.00	$0.00	N/A

SFRX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$288K-68.7%	$920K+168.0%	$343K+18.8%	$289K-47.4%	$550K-48.3%	$1.1M
Current Assets	$27K-95.8%	$641K+259.8%	$178K+108.2%	$86K-72.5%	$311K-60.1%	$779K
Cash & Equivalents	$24K-96.1%	$606K+241.7%	$177K+116.9%	$82K-56.2%	$187K-69.8%	$619K
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	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.1M+21.9%	$2.5M+38.3%	$1.8M+4.2%	$1.8M+17.9%	$1.5M+17.8%	$1.3M
Current Liabilities	$3.0M+24.6%	$2.4M+32.2%	$1.8M+4.8%	$1.8M+19.4%	$1.5M+15.6%	$1.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.8M-73.3%	-$1.6M-8.5%	-$1.5M-1.3%	-$1.5M-55.9%	-$947K-358.5%	-$207K
Retained Earnings	-$32.2M-13.7%	-$28.3M-12.6%	-$25.2M-11.6%	-$22.6M-13.2%	-$19.9M-15.4%	-$17.3M

Metric	Q3'25	Q3'25	Q1'25	Q3'24	Q3'24	Q3'24	Q1'24	Q4'23
Total Assets	$272K+21.5%	$224K-14.8%	$262K-9.0%	$288K-58.3%	$692K-17.1%	$834K+10.1%	$758K-17.6%	$920K
Current Assets	$30K+163.5%	$12K-54.6%	$25K-4.6%	$27K-94.2%	$464K-21.3%	$589K+18.8%	$496K-22.6%	$641K
Cash & Equivalents	$25K+661.6%	$3K-86.3%	$24K-0.1%	$24K-94.2%	$407K-14.1%	$474K-2.4%	$485K-20.0%	$606K
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.6M+9.6%	$3.3M+4.1%	$3.1M+1.4%	$3.1M+3.3%	$3.0M+0.2%	$3.0M+7.2%	$2.8M+9.9%	$2.5M
Current Liabilities	$3.5M+8.9%	$3.2M+4.4%	$3.1M+1.7%	$3.0M+3.6%	$2.9M+0.4%	$2.9M+7.9%	$2.7M+11.0%	$2.4M
Long-Term Debt	N/A	N/A	N/A	N/A	$30K0.0%	$30K0.0%	$30K	N/A
Total Equity	-$3.3M-8.7%	-$3.0M-5.8%	-$2.9M-2.5%	-$2.8M-21.7%	-$2.3M-6.8%	-$2.2M-14.2%	-$1.9M-16.7%	-$1.6M
Retained Earnings	-$34.3M-2.0%	-$33.6M-2.0%	-$33.0M-2.3%	-$32.2M-2.7%	-$31.4M-2.5%	-$30.6M-3.3%	-$29.7M-4.6%	-$28.3M

SFRX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$2.9M-24.0%	-$2.3M-16.3%	-$2.0M-15.9%	-$1.7M+9.0%	-$1.9M-13.9%	-$1.7M
Capital Expenditures	$58K	N/A	$145	N/A	$12K	N/A
Free Cash Flow	-$2.9M	N/A	-$2.0M	N/A	-$1.9M	N/A
Investing Cash Flow	-$58K	N/A	-$145-100.7%	$20K+407.7%	-$7K	N/A
Financing Cash Flow	$2.3M-14.5%	$2.7M+31.5%	$2.1M+31.1%	$1.6M+8.9%	$1.5M-35.8%	$2.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$2K+380.0%	$500	N/A	N/A	N/A

Metric	Q3'25	Q3'25	Q1'25	Q3'24	Q3'24	Q3'24	Q1'24	Q4'23
Operating Cash Flow	-$461K+6.3%	-$492K+17.1%	-$593K+3.3%	-$613K+7.4%	-$663K+12.7%	-$759K+9.0%	-$834K-24.1%	-$672K
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	$482K+2.3%	$471K-20.6%	$593K+105.6%	$289K-51.6%	$596K-20.3%	$748K+4.9%	$713K-10.4%	$795K
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	$0

SFRX 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	-20488.5%-4624.3pp	-15864.3%+2832.8pp	-18697.1%-8825.3pp	-9871.7%+15539.7pp	-25411.5%-10762.4pp	-14649.1%
Net Margin	-23901.8%-7366.1pp	-16535.7%+3635.4pp	-20171.2%-9121.9pp	-11049.3%+14000.8pp	-25050.0%-8556.0pp	-16494.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1351.2%-1005.5pp	-345.7%+416.4pp	-762.0%+146.3pp	-908.3%-424.5pp	-483.8%-266.9pp	-216.9%
Current Ratio	0.01-0.3	0.26+0.2	0.10+0.0	0.05-0.2	0.21-0.4	0.61
Debt-to-Equity	-1.10+0.5	-1.57-0.3	-1.23-0.0	-1.20+0.4	-1.58+4.6	-6.15
FCF Margin	-17955.8%	N/A	-15335.6%	N/A	-17866.6%	N/A

Metric	Q3'25	Q3'25	Q1'25	Q3'24	Q3'24	Q3'24	Q1'24	Q4'23
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	-39598.6%-28509.3pp	-11089.3%+4010.9pp	-15100.1%+19542.3pp	-34642.5%	N/A
Net Margin	N/A	N/A	N/A	-47550.9%-35923.0pp	-11628.0%+4979.2pp	-16607.2%+24783.0pp	-41390.2%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-250.2%+37.8pp	-288.0%-9.3pp	-278.7%-216.2pp	-62.5%+48.6pp	-111.2%+6.4pp	-117.5%+55.5pp	-173.1%	N/A
Current Ratio	0.010.0	0.000.0	0.010.0	0.01-0.1	0.16-0.0	0.20+0.0	0.18-0.1	0.26
Debt-to-Equity	-1.080.0	-1.07+0.0	-1.09+0.0	-1.10+0.2	-1.30+0.1	-1.39+0.1	-1.48+0.1	-1.57
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$2.8M), 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 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Seafarer Expl Corp's annual revenue?

Seafarer Expl Corp (SFRX) reported $16K in total revenue for fiscal year 2024. This represents a -15.2% 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 Seafarer Expl Corp's revenue growing?

Seafarer Expl Corp (SFRX) revenue declined by 15.2% year-over-year, from $19K to $16K in fiscal year 2024.

Is Seafarer Expl Corp profitable?

No, Seafarer Expl Corp (SFRX) reported a net income of -$3.9M in fiscal year 2024, with a net profit margin of -23901.8%.

What is Seafarer Expl Corp's EBITDA?

Seafarer Expl Corp (SFRX) had EBITDA of -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Seafarer Expl Corp's operating margin?

Seafarer Expl Corp (SFRX) had an operating margin of -20488.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Seafarer Expl Corp's net profit margin?

Seafarer Expl Corp (SFRX) had a net profit margin of -23901.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Seafarer Expl Corp's free cash flow?

Seafarer Expl Corp (SFRX) generated -$2.9M in free cash flow during fiscal year 2024. 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 Seafarer Expl Corp's operating cash flow?

Seafarer Expl Corp (SFRX) generated -$2.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Seafarer Expl Corp's total assets?

Seafarer Expl Corp (SFRX) had $288K in total assets as of fiscal year 2024, including both current and long-term assets.

What are Seafarer Expl Corp's capital expenditures?

Seafarer Expl Corp (SFRX) invested $58K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Seafarer Expl Corp spend on research and development?

Seafarer Expl Corp (SFRX) invested $490K in research and development during fiscal year 2024.

How many shares does Seafarer Expl Corp have outstanding?

Seafarer Expl Corp (SFRX) had 8.94B shares outstanding as of fiscal year 2024.

What is Seafarer Expl Corp's current ratio?

Seafarer Expl Corp (SFRX) had a current ratio of 0.01 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Seafarer Expl Corp's debt-to-equity ratio?

Seafarer Expl Corp (SFRX) had a debt-to-equity ratio of -1.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Seafarer Expl Corp's return on assets (ROA)?

Seafarer Expl Corp (SFRX) had a return on assets of -1351.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Seafarer Expl Corp's cash runway?

Based on fiscal year 2024 data, Seafarer Expl Corp (SFRX) had $24K in cash against an annual operating cash burn of $2.9M. 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 Seafarer Expl Corp's debt-to-equity ratio negative or unusual?

Seafarer Expl Corp (SFRX) has negative shareholder equity of -$2.8M as of fiscal year 2024, 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 Seafarer Expl Corp's Piotroski F-Score?

Seafarer Expl Corp (SFRX) 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 Seafarer Expl Corp's earnings high quality?

Seafarer Expl Corp (SFRX) has an earnings quality ratio of 0.74x, 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 Seafarer Expl Corp cover its interest payments?

Seafarer Expl Corp (SFRX) has an interest coverage ratio of -9.1x, 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.

How financially healthy is Seafarer Expl Corp?

Seafarer Expl Corp (SFRX) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.