Sow Good Inc Financials
This page shows Sow Good Inc (SOWG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
After a brief scale-up, cash burn and balance-sheet contraction became the dominant mechanic, pushing Sow Good into negative equity.
The striking shift is not just losses: between FY2024 and FY2025, total assets fell from$54.7M to$3.8M while operating cash burn still ran at-$4.3M , so annual cash use was larger than the year-end cash balance of$1.5M . That same compression flipped equity from$32.0M to-$2.6M , meaning the financing cushion disappeared faster than operations stabilized.
FY2023 hinted that scale was helping the income statement: revenue reached
Short-term liquidity tightened sharply, with the current ratio falling from 3.4x in FY2024 to 0.5x in FY2025. Cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Sow Good Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sow Good Inc carries a low D/E ratio of -2.47, meaning only $-2.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Sow Good Inc's current ratio of 0.55 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Sow Good Inc passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Sow Good Inc earns $-41.3 in operating income for every $1 of interest expense (-$6.6M vs $160K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Sow Good Inc generated $0 in revenue in fiscal year 2025.
Sow Good Inc's EBITDA was -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 40.6% from the prior year.
Sow Good Inc earned $-3.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 760.0% from the prior year.
Cash & Balance Sheet
Sow Good Inc held $1.5M in cash against $0 in long-term debt as of fiscal year 2025.
Sow Good Inc had 814,833 shares outstanding in fiscal year 2025. This represents a decrease of 92.8% from the prior year.
Margins & Returns
Capital Allocation
SOWG Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $1.6M-16.3% | $1.9M-25.1% | $2.5M | N/A | $3.6M-77.3% | $15.6M |
| Cost of Revenue | N/A | N/A | $10.5M+428.7% | $2.0M+44.5% | $1.4M | N/A | $3.0M-54.9% | $6.6M |
| Gross Profit | N/A | N/A | -$8.9M-6798.1% | -$130K-111.8% | $1.1M | N/A | $556K-93.8% | $9.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.7M | N/A | $3.6M-7.6% | $3.9M+149.4% | $1.6M | N/A | $3.8M-7.6% | $4.1M |
| Operating Income | -$1.7M | N/A | -$12.6M-209.7% | -$4.1M-156.8% | -$1.6M | N/A | -$3.3M-166.7% | $4.9M |
| Interest Expense | $244K | N/A | $93K-17.6% | $113K-69.0% | $365K | N/A | $225K-62.5% | $600K |
| Income Tax | N/A | N/A | $0 | $0 | $0 | N/A | -$62K-124.2% | $258K |
| Net Income | -$2.5M | N/A | -$10.9M-161.2% | -$4.2M-52.0% | -$2.8M | N/A | -$3.4M-201.3% | $3.3M |
| EPS (Diluted) | $-0.13 | N/A | $-0.90-150.0% | $-0.36+89.4% | $-3.40 | N/A | $-0.33-213.8% | $0.29 |
SOWG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0M-19.3% | $3.8M-85.2% | $25.6M-48.8% | $50.0M-5.2% | $52.7M-3.6% | $54.7M-5.2% | $57.7M-4.2% | $60.2M |
| Current Assets | $3.0M-12.9% | $3.4M-74.0% | $13.0M-42.8% | $22.8M-7.4% | $24.6M-1.8% | $25.1M-11.7% | $28.4M-11.9% | $32.2M |
| Cash & Equivalents | $2.3M+57.3% | $1.5M+280.7% | $387K-59.6% | $959K-40.6% | $1.6M-56.6% | $3.7M-46.4% | $6.9M-51.7% | $14.4M |
| Inventory | $5K-78.5% | $23K-99.8% | $11.5M-44.6% | $20.8M-1.6% | $21.1M | $0-100.0% | $19.4M+88.3% | $10.3M |
| Accounts Receivable | $3K | N/A | $175K-75.1% | $701K-47.4% | $1.3M+189.6% | $460K-62.7% | $1.2M-80.1% | $6.2M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.5M-29.0% | $6.3M-2.2% | $6.5M-69.7% | $21.4M-2.4% | $21.9M-3.4% | $22.7M-8.6% | $24.8M-1.3% | $25.2M |
| Current Liabilities | $4.3M-29.7% | $6.2M+92.4% | $3.2M-40.3% | $5.4M-20.2% | $6.8M-8.3% | $7.4M-15.3% | $8.7M+38.3% | $6.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.5M+43.4% | -$2.6M-113.4% | $19.1M-33.2% | $28.6M-7.2% | $30.8M-3.7% | $32.0M-2.5% | $32.8M-6.3% | $35.0M |
| Retained Earnings | -$105.6M-2.4% | -$103.1M-28.6% | -$80.1M-15.8% | -$69.2M-6.4% | -$65.0M-4.1% | -$62.4M-7.2% | -$58.3M-6.2% | -$54.9M |
SOWG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M | N/A | -$820K-59.5% | -$514K+74.3% | -$2.0M | N/A | -$5.2M-131.8% | -$2.2M |
| 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 | $248K+275.5% | -$141K-31.1% | -$108K | N/A | -$2.2M-40.3% | -$1.6M |
| Financing Cash Flow | $2.5M | N/A | $0 | $0 | $0 | N/A | $0-100.0% | $11.4M |
| 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 |
SOWG Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | -576.1%-569.1pp | -7.0%-51.5pp | 44.5% | N/A | 15.6%-41.9pp | 57.6% |
| Operating Margin | N/A | N/A | -812.4%-592.9pp | -219.5%-155.4pp | -64.0% | N/A | -91.6%-122.8pp | 31.2% |
| Net Margin | N/A | N/A | -704.1%-478.6pp | -225.5%-114.4pp | -111.2% | N/A | -95.1%-116.4pp | 21.3% |
| Return on Equity | N/A | N/A | -57.3%-42.6pp | -14.6%-5.7pp | -8.9% | N/A | -10.3%-19.8pp | 9.5% |
| Return on Assets | -81.7% | N/A | -42.8%-34.4pp | -8.4%-3.2pp | -5.2% | N/A | -5.9%-11.4pp | 5.5% |
| Current Ratio | 0.68+0.1 | 0.55-3.5 | 4.06-0.2 | 4.23+0.6 | 3.65+0.2 | 3.40+0.1 | 3.27-1.9 | 5.13 |
| Debt-to-Equity | -3.10-0.6 | -2.47-2.8 | 0.34-0.4 | 0.75+0.0 | 0.710.0 | 0.71-0.0 | 0.76+0.0 | 0.72 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$2.6M), 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 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Sow Good Inc's annual revenue?
Sow Good Inc (SOWG) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
What is Sow Good Inc's EBITDA?
Sow Good Inc (SOWG) had EBITDA of -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Sow Good Inc's operating cash flow?
Sow Good Inc (SOWG) generated -$4.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sow Good Inc's total assets?
Sow Good Inc (SOWG) had $3.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sow Good Inc's current ratio?
Sow Good Inc (SOWG) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Sow Good Inc's debt-to-equity ratio?
Sow Good Inc (SOWG) had a debt-to-equity ratio of -2.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sow Good Inc's cash runway?
Based on fiscal year 2025 data, Sow Good Inc (SOWG) had $1.5M in cash against an annual operating cash burn of $4.3M. This gives an estimated cash runway of approximately 4 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 Sow Good Inc's debt-to-equity ratio negative or unusual?
Sow Good Inc (SOWG) has negative shareholder equity of -$2.6M 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 Sow Good Inc's Piotroski F-Score?
Sow Good Inc (SOWG) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Can Sow Good Inc cover its interest payments?
Sow Good Inc (SOWG) has an interest coverage ratio of -41.3x, 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 Sow Good Inc?
Sow Good Inc (SOWG) scores 16 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.