What is Sow Good Inc's earnings per share (EPS)?

Sow Good Inc (SOWG) reported diluted earnings per share of $-3.44 for fiscal year 2025. 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.

Sow Good Inc Financials

SOWG

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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).

Rhea AI SOWG FY2025 2026-05-20

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 $16.1M and operating margin improved to -7.6%. But working capital absorbed the benefit, as operating cash flow remained -$4.8M while inventory plus receivables swelled to $6.7M.

Short-term liquidity tightened sharply, with the current ratio falling from 3.4x in FY2024 to 0.5x in FY2025. Cash of $1.5M now sits against current liabilities of $6.2M, so the immediate operating pressure is meeting near-term obligations rather than rebuilding growth capacity.

Financial Health Signals

Financial health score pending refresh

We are recalculating Sow Good Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-37.78

Sow Good Inc scores -37.78, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($75.0M) relative to total liabilities ($6.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Interest Coverage At Risk

-41.3x

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

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Earnings & Revenue

Revenue

Sow Good Inc generated $0 in revenue in fiscal year 2025.

EBITDA

-$6.6M

YoY+40.6%

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.

Net Income

N/A

EPS (Diluted)

$-3.44

Sow Good Inc earned $-3.44 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.5M

YoY-60.4%

5Y CAGR-5.1%

10Y CAGR+20.5%

Sow Good Inc held $1.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

814,833

Sow Good Inc had 814,833 shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

SOWG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0	$0-100.0%	$16.1M+3653.7%	$428K+384.1%	$88K	$0
Cost of Revenue	N/A	$19.0M+48.6%	$12.8M+4050.5%	$308K+279.2%	$81K	$0
Gross Profit	N/A	-$19.0M-680.7%	$3.3M+2633.0%	$120K+1581.0%	$7K	$0
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$6.6M-40.6%	$11.1M+151.8%	$4.4M-59.1%	$10.7M+55.4%	$6.9M+129.8%	$3.0M
Operating Income	-$6.6M+40.4%	-$11.1M-808.5%	-$1.2M+88.8%	-$10.9M-53.1%	-$7.1M-136.2%	-$3.0M
Interest Expense	$160K-78.4%	$741K-59.7%	$1.8M+44.0%	$1.3M+21520.1%	$6K-98.5%	$386K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	N/A	-$3.7M-21.0%	-$3.1M+74.8%	-$12.1M-76.4%	-$6.9M-29.2%	-$5.3M
EPS (Diluted)	$-3.44	$-0.40+32.2%	$-0.59+76.5%	$-2.51-55.9%	$-1.61+42.9%	$-2.82

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	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.8M-93.1%	$54.7M+154.5%	$21.5M+141.5%	$8.9M-36.9%	$14.1M+14.3%	$12.3M
Current Assets	$3.4M-86.5%	$25.1M+141.6%	$10.4M+302.6%	$2.6M-47.3%	$4.9M+104.6%	$2.4M
Cash & Equivalents	$1.5M-60.4%	$3.7M+54.5%	$2.4M+771.7%	$276K-91.7%	$3.3M+74.9%	$1.9M
Inventory	$23K	$0-100.0%	$4.1M+119.9%	$1.9M+29.1%	$1.5M+927.0%	$141K
Accounts Receivable	N/A	$460K-82.2%	$2.6M+1249.7%	$191K+1442.7%	$12K	$0
Goodwill	N/A	N/A	N/A	$0-100.0%	$4.9M-23.8%	$6.4M
Total Liabilities	$6.3M-72.1%	$22.7M+59.8%	$14.2M+133.4%	$6.1M+85.4%	$3.3M+43.6%	$2.3M
Current Liabilities	$6.2M-16.0%	$7.4M+27.6%	$5.8M+548.3%	$890K+120.9%	$403K-35.3%	$623K
Long-Term Debt	N/A	N/A	N/A	N/A	$699K	N/A
Total Equity	-$2.6M-108.0%	$32.0M+339.4%	$7.3M+159.0%	$2.8M-74.0%	$10.8M+7.6%	$10.1M
Retained Earnings	-$103.1M-65.1%	-$62.4M-6.3%	-$58.7M-5.5%	-$55.7M-27.8%	-$43.6M-18.7%	-$36.7M

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	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$4.3M+54.3%	-$9.4M-94.5%	-$4.8M+5.8%	-$5.1M+7.3%	-$5.6M-218.4%	-$1.7M
Capital Expenditures	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
Investing Cash Flow	$0+100.0%	-$5.9M-161.5%	-$2.3M+13.6%	-$2.6M-301.6%	-$653K-119.9%	$3.3M
Financing Cash Flow	$2.1M-87.7%	$16.7M+80.3%	$9.2M+96.7%	$4.7M-38.5%	$7.6M+2804.8%	$263K
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	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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	20.4%-7.6pp	28.0%+19.9pp	8.1%	N/A
Operating Margin	N/A	N/A	-7.6%+2535.0pp	-2542.6%+5494.4pp	-8037.0%	N/A
Net Margin	N/A	N/A	-19.0%+2813.5pp	-2832.6%+4940.1pp	-7772.7%	N/A
Return on Equity	N/A	-11.6%+30.5pp	-42.0%+389.4pp	-431.4%-367.9pp	-63.5%-10.6pp	-52.9%
Return on Assets	N/A	-6.8%+7.5pp	-14.2%+122.0pp	-136.3%-87.5pp	-48.7%-5.6pp	-43.1%
Current Ratio	0.55-2.9	3.40+1.6	1.80-1.1	2.90-9.2	12.14+8.3	3.84
Debt-to-Equity	-2.47-3.2	0.71-1.2	1.95-0.2	2.17+2.1	0.06-0.2	0.23
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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.

How many shares does Sow Good Inc have outstanding?

Sow Good Inc (SOWG) had 814,833 shares outstanding as of fiscal year 2025.

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 Altman Z-Score?

Sow Good Inc (SOWG) has an Altman Z-Score of -37.78, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. 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.