INVESTMENT MANAGERS SER TR II Financials

SNPX

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

This page shows INVESTMENT MANAGERS SER TR II (SNPX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

Piotroski F-Score Weak

2/9

INVESTMENT MANAGERS SER TR II passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.38x

For every $1 of reported earnings, INVESTMENT MANAGERS SER TR II generates $0.38 in operating cash flow (-$4.9M OCF vs -$12.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$12.8M

YoY-111.5%

INVESTMENT MANAGERS SER TR II reported -$12.8M in net income in fiscal year 2024. This represents a decrease of 111.5% from the prior year.

EPS (Diluted)

$10.99

YoY-62.8%

INVESTMENT MANAGERS SER TR II earned $10.99 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 62.8% from the prior year.

Cash & Debt

$17.7M

YoY-38.4%

5Y CAGR+0.3%

INVESTMENT MANAGERS SER TR II held $17.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+40.9%

INVESTMENT MANAGERS SER TR II had 1M shares outstanding in fiscal year 2024. This represents an increase of 40.9% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$1.6M

YoY-19.0%

5Y CAGR-22.4%

INVESTMENT MANAGERS SER TR II invested $1.6M in research and development in fiscal year 2024. This represents a decrease of 19.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

SNPX 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	$1.6M-19.0%	$2.0M-68.8%	$6.3M+45.9%	$4.3M+41.3%	$3.1M-45.9%	$5.7M
SG&A Expenses	$5.2M-17.8%	$6.3M-35.4%	$9.8M+18.5%	$8.3M+2.4%	$8.1M-15.5%	$9.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	N/A	N/A	N/A	N/A
Net Income	-$12.8M-111.5%	-$6.0M-8.3%	-$5.6M+55.8%	-$12.6M+0.7%	-$12.7M+16.1%	-$15.1M
EPS (Diluted)	$10.99-62.8%	$29.56	$-0.81-132.3%	$2.51-79.1%	$12.03	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$203K+5033.0%	$4K	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	$54K-63.4%	$149K+144.3%	$61K-72.7%	$223K-34.8%	$342K-43.9%	$609K	N/A	$212K
SG&A Expenses	$1.9M-11.1%	$2.2M+117.3%	$1.0M-11.3%	$1.1M-8.2%	$1.2M+14.5%	$1.1M	N/A	$1.2M
Operating Income	-$1.8M+40.7%	-$3.0M	N/A	-$2.0M-25.1%	-$1.6M	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.9M+77.6%	-$17.5M-4647.6%	$385K+106.7%	-$5.7M-351.0%	-$1.3M-516.0%	-$207K	N/A	$763K
EPS (Diluted)	$-1.56+86.1%	$-11.26-28250.0%	$0.04+100.8%	$-5.01-324.6%	$-1.18	$-0.41	N/A	$0.84

SNPX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$17.7M-43.0%	$31.1M-19.4%	$38.6M+8.7%	$35.5M+426.2%	$6.8M-62.3%	$17.9M
Current Assets	$17.7M-42.0%	$30.5M-20.9%	$38.6M+8.7%	$35.5M+427.6%	$6.7M-62.4%	$17.9M
Cash & Equivalents	$17.7M-38.4%	$28.7M-23.5%	$37.5M+9.5%	$34.2M+490.4%	$5.8M-66.7%	$17.4M
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	$11.0M+98.2%	$5.5M+73.2%	$3.2M+60.1%	$2.0M+23.7%	$1.6M+236.6%	$479K
Current Liabilities	$1.0M-76.3%	$4.3M+225.7%	$1.3M-34.2%	$2.0M+23.7%	$1.6M+236.6%	$479K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$5.9M-75.9%	$24.3M-25.5%	$32.7M-2.5%	$33.5M+552.5%	$5.1M-70.5%	$17.4M
Retained Earnings	-$47.2M-40.3%	-$33.6M-69.5%	-$19.8M-40.2%	-$14.1M-824.0%	-$1.5M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$18.4M-7.2%	$19.8M+29.1%	$15.3M-13.6%	$17.7M-37.5%	$28.4M-3.4%	$29.4M-5.5%	$31.1M-3.9%	$32.4M
Current Assets	$18.3M-7.2%	$19.8M+29.1%	$15.3M-13.6%	$17.7M-36.3%	$27.8M-3.5%	$28.8M-5.6%	$30.5M-5.6%	$32.3M
Cash & Equivalents	$1.4M-89.9%	$14.4M-3.1%	$14.8M-16.0%	$17.7M-29.3%	$25.0M-5.1%	$26.3M-8.1%	$28.7M-9.7%	$31.7M
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	$1.7M-7.5%	$1.8M-79.4%	$8.9M-18.9%	$11.0M+14.3%	$9.6M+47.0%	$6.5M+18.0%	$5.5M+40.6%	$3.9M
Current Liabilities	$1.0M+8.1%	$964K+357.7%	$211K-79.2%	$1.0M-89.2%	$9.4M+48.5%	$6.3M+47.3%	$4.3M+135.3%	$1.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.1M-6.9%	$17.2M+233.7%	$5.2M-11.9%	$5.9M-68.8%	$18.8M-14.8%	$22.1M-9.4%	$24.3M-9.0%	$26.7M
Retained Earnings	-$68.5M-6.2%	-$64.5M-37.6%	-$46.9M+0.6%	-$47.2M-33.0%	-$35.5M-4.2%	-$34.0M-1.3%	-$33.6M-3.8%	-$32.4M

SNPX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$4.9M+5.6%	-$5.2M+53.9%	-$11.2M-28.7%	-$8.7M-7.5%	-$8.1M+31.8%	-$11.9M
Capital Expenditures	N/A	$3K-63.5%	$7K+131.8%	$3K-40.9%	$5K+3.8%	$5K
Free Cash Flow	N/A	-$5.2M+53.9%	-$11.2M-28.7%	-$8.7M-7.5%	-$8.1M+31.8%	-$11.9M
Investing Cash Flow	-$1.0M+50.1%	-$2.0M-26912.5%	-$7K-131.8%	-$3K+40.9%	-$5K-3.8%	-$5K
Financing Cash Flow	-$5.1M-212.1%	-$1.6M-111.3%	$14.5M-61.0%	$37.1M+1167.3%	-$3.5M-928.7%	$420K
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	-$1.2M-59.5%	-$749K+62.6%	-$2.0M-71.3%	-$1.2M-36.8%	-$854K+53.4%	-$1.8M-71.8%	-$1.1M+9.0%	-$1.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$1.1M+9.0%	-$1.2M
Investing Cash Flow	-$13.1M	N/A	N/A	$0+100.0%	-$500K0.0%	-$500K+75.0%	-$2.0M	$0
Financing Cash Flow	$1.3M-72.0%	$4.8M+681.9%	-$822K-2.6%	-$802K	N/A	N/A	-$51-204.1%	$49
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

SNPX 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	-72.0%-52.6pp	-19.4%-5.0pp	-14.4%+21.1pp	-35.5%+152.7pp	-188.2%-103.6pp	-84.6%
Current Ratio	17.47+10.3	7.14-22.3	29.39+11.6	17.80+13.6	4.17-33.1	37.32
Debt-to-Equity	1.87+1.6	0.23+0.1	0.10+0.0	0.06-0.3	0.31+0.3	0.03
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	-884.8%+75738.9pp	-76623.8%	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-1929.1%+440172.8pp	-442101.9%	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	7.4%	N/A	N/A	N/A	N/A	2.9%
Return on Assets	-21.4%+67.1pp	-88.5%-91.0pp	2.5%+27.7pp	-25.2%-20.7pp	-4.5%-3.8pp	-0.7%	N/A	2.4%
Current Ratio	17.61-2.9	20.51-52.2	72.71+55.2	17.47+14.5	2.98-1.6	4.58-2.6	7.14-10.7	17.79
Debt-to-Equity	0.110.0	0.11-1.6	1.72-0.2	1.87+1.4	0.51+0.2	0.30+0.1	0.23+0.1	0.15
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is INVESTMENT MANAGERS SER TR II profitable?

No, INVESTMENT MANAGERS SER TR II (SNPX) reported a net income of -$12.8M in fiscal year 2024.

What is INVESTMENT MANAGERS SER TR II's earnings per share (EPS)?

INVESTMENT MANAGERS SER TR II (SNPX) reported diluted earnings per share of $10.99 for fiscal year 2024. This represents a -62.8% 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 INVESTMENT MANAGERS SER TR II's operating cash flow?

INVESTMENT MANAGERS SER TR II (SNPX) generated -$4.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are INVESTMENT MANAGERS SER TR II's total assets?

INVESTMENT MANAGERS SER TR II (SNPX) had $17.7M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does INVESTMENT MANAGERS SER TR II spend on research and development?

INVESTMENT MANAGERS SER TR II (SNPX) invested $1.6M in research and development during fiscal year 2024.

How many shares does INVESTMENT MANAGERS SER TR II have outstanding?

INVESTMENT MANAGERS SER TR II (SNPX) had 1M shares outstanding as of fiscal year 2024.

What is INVESTMENT MANAGERS SER TR II's current ratio?

INVESTMENT MANAGERS SER TR II (SNPX) had a current ratio of 17.47 as of fiscal year 2024, which is generally considered healthy.

What is INVESTMENT MANAGERS SER TR II's debt-to-equity ratio?

INVESTMENT MANAGERS SER TR II (SNPX) had a debt-to-equity ratio of 1.87 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is INVESTMENT MANAGERS SER TR II's return on assets (ROA)?

INVESTMENT MANAGERS SER TR II (SNPX) had a return on assets of -72.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is INVESTMENT MANAGERS SER TR II's cash runway?

Based on fiscal year 2024 data, INVESTMENT MANAGERS SER TR II (SNPX) had $17.7M in cash against an annual operating cash burn of $4.9M. This gives an estimated cash runway of approximately 43 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 INVESTMENT MANAGERS SER TR II's Piotroski F-Score?

INVESTMENT MANAGERS SER TR II (SNPX) 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 INVESTMENT MANAGERS SER TR II's earnings high quality?

INVESTMENT MANAGERS SER TR II (SNPX) has an earnings quality ratio of 0.38x, 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.