Firsthand Technology Value Fund Inc Financials

SVVC

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

This page shows Firsthand Technology Value Fund Inc (SVVC) 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).

Rhea AI SVVC FY2025 2026-05-14

The visible mechanic is asset shrinkage outrunning liability reduction, pushing a once-equity-backed fund into negative net worth.

From FY2021 to FY2025, total assets fell from $102.7M to $270K, showing the fund's investable base largely disappeared rather than merely cycling through a weak year. Because liabilities still stood at $505K, the remaining asset pool could no longer cover them, flipping equity from positive to -$235K and changing the problem from poor returns to balance-sheet insolvency.

In FY2022, net loss and operating cash flow told very different stories: reported loss was -$64.1M while cash from operations was only $3K. That gap means the damage was driven much more by changes in stated asset values than by day-to-day cash consumption, so reported earnings were a weak guide to liquidity.

By FY2024, liabilities had been cut to $735K, but assets were only $1.8M, leaving little room for another setback. With financing cash flow at $0 and shares essentially unchanged around 6.9M, the balance sheet was not replenished with fresh capital, so each additional decline hit equity almost directly.

Financial Health Signals

Financial Profile 15/100

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 Firsthand Technology Value Fund 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.

Leverage

Firsthand Technology Value Fund Inc carries a low D/E ratio of -2.15, meaning only $-2.15 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.

Piotroski F-Score Weak

2/9

Firsthand Technology Value Fund Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.00x

For every $1 of reported earnings, Firsthand Technology Value Fund Inc generates $0.00 in operating cash flow (-$3K OCF vs -$1.3M 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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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$1.3M

YoY-548.9%

Firsthand Technology Value Fund Inc reported -$1.3M in net income in fiscal year 2025. This represents a decrease of 548.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

YoY-0.0%

Firsthand Technology Value Fund Inc had 7M shares outstanding in fiscal year 2025. This represents a decrease of 0.0% from the prior year.

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

SVVC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.3M-548.9%	-$200K+99.3%	-$29.3M+54.2%	-$64.1M-768.3%	-$7.4M+67.8%	-$22.9M
EPS (Diluted)	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
Revenue	N/A	N/A	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	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	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$209K	N/A	-$451K-401.0%	-$90K+59.7%	-$223K	N/A	$526K-38.1%	$850K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SVVC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$270K-85.0%	$1.8M-79.6%	$8.8M-78.1%	$40.2M-60.8%	$102.7M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	$3K	$0-100.0%	$729
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	$505K-31.2%	$735K-90.3%	$7.5M-21.3%	$9.6M+21.1%	$7.9M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$235K-122.2%	$1.1M-15.8%	$1.3M-95.9%	$30.6M-67.7%	$94.8M	N/A
Retained Earnings	-$177.0M-0.7%	-$175.7M-0.1%	-$175.5M-20.1%	-$146.2M-78.2%	-$82.0M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$186K-31.0%	$270K-66.7%	$811K-30.5%	$1.2M-21.7%	$1.5M-16.9%	$1.8M-18.9%	$2.2M-61.2%	$5.7M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$631K+24.8%	$505K-1.9%	$515K+22.6%	$420K-35.8%	$654K-11.0%	$735K+9.7%	$670K-85.7%	$4.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$444K-88.9%	-$235K-179.3%	$297K-60.3%	$747K-10.7%	$837K-21.1%	$1.1M-31.3%	$1.5M+51.7%	$1.0M
Retained Earnings	-$177.2M-0.1%	-$177.0M-0.3%	-$176.5M-0.3%	-$176.0M-0.1%	-$175.9M-0.1%	-$175.7M-0.3%	-$175.2M+0.3%	-$175.8M

SVVC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3K-892.9%	-$253+60.4%	-$639-118.8%	$3K+566.9%	-$729-100.0%	$2.0M
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	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$0	$0	$0	$0	$0+100.0%	-$2.0M
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	$0+100.0%	-$3K-19278.6%	$14-89.6%	$135+462.5%	$24+108.2%	-$294-397.0%	$99+57.1%	$63
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	$0	$0	$0	$0	$0	$0	$0	$0
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

SVVC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	-18.8%+2309.8pp	-2328.6%-2119.1pp	-209.6%-201.8pp	-7.8%	N/A
Return on Assets	-479.6%-468.5pp	-11.1%+322.1pp	-333.2%-173.7pp	-159.5%-152.3pp	-7.2%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	-2.15-2.8	0.69-5.3	5.99+5.7	0.31+0.2	0.08	N/A
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	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	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	-152.0%-139.9pp	-12.0%+14.7pp	-26.7%	N/A	34.1%-49.4pp	83.5%
Return on Assets	-112.0%	N/A	-55.5%-47.8pp	-7.7%+7.3pp	-15.0%	N/A	23.8%+8.9pp	14.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	-1.42+0.7	-2.15-3.9	1.74+1.2	0.56-0.2	0.78+0.1	0.69+0.3	0.43-4.2	4.60
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$235K), 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.

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Frequently Asked Questions

Is Firsthand Technology Value Fund Inc profitable?

No, Firsthand Technology Value Fund Inc (SVVC) reported a net income of -$1.3M in fiscal year 2025.

What is Firsthand Technology Value Fund Inc's operating cash flow?

Firsthand Technology Value Fund Inc (SVVC) generated -$3K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Firsthand Technology Value Fund Inc's total assets?

Firsthand Technology Value Fund Inc (SVVC) had $270K in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Firsthand Technology Value Fund Inc have outstanding?

Firsthand Technology Value Fund Inc (SVVC) had 7M shares outstanding as of fiscal year 2025.

What is Firsthand Technology Value Fund Inc's debt-to-equity ratio?

Firsthand Technology Value Fund Inc (SVVC) had a debt-to-equity ratio of -2.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Firsthand Technology Value Fund Inc's return on assets (ROA)?

Firsthand Technology Value Fund Inc (SVVC) had a return on assets of -479.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Firsthand Technology Value Fund Inc's debt-to-equity ratio negative or unusual?

Firsthand Technology Value Fund Inc (SVVC) has negative shareholder equity of -$235K 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 Firsthand Technology Value Fund Inc's Piotroski F-Score?

Firsthand Technology Value Fund Inc (SVVC) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Firsthand Technology Value Fund Inc's earnings high quality?

Firsthand Technology Value Fund Inc (SVVC) has an earnings quality ratio of 0.00x, 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.

How financially healthy is Firsthand Technology Value Fund Inc?

Firsthand Technology Value Fund Inc (SVVC) scores 15 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.