Trutankless Financials
This page shows Trutankless (TKLS) 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).
Sales growth is not yet self-funding: Trutankless is converting a bigger revenue base into inventory and liabilities, not liquidity.
In the latest year, revenue reached$1.08M while gross profit turned positive at$42K , suggesting the core sale stopped losing money before overhead. The less obvious shift is that inventory rose to$1.57M while free cash flow remained-$1.78M , so working-capital absorption is still preventing sales growth from funding the business.
Cost structure remains the main obstacle: operating loss was
Liquidity is extremely thin because inventory ended at
Financial Health Signals
We are recalculating Trutankless'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.
Trutankless scores -40.61, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($81.5M) relative to total liabilities ($13.1M). 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.
Trutankless passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Trutankless generates $0.31 in operating cash flow (-$1.5M OCF vs -$4.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Trutankless earns $-4.0 in operating income for every $1 of interest expense (-$3.6M vs $899K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Trutankless generated $1.1M in revenue in fiscal year 2025. This represents an increase of 346.8% from the prior year.
Trutankless's EBITDA was -$3.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.1% from the prior year.
Trutankless reported -$4.8M in net income in fiscal year 2025. This represents an increase of 53.4% from the prior year.
Trutankless earned $-0.04 per diluted share (EPS) in fiscal year 2025. This represents an increase of 63.6% from the prior year.
Cash & Balance Sheet
Trutankless generated -$1.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 29.0% from the prior year.
Trutankless held $22K in cash against $0 in long-term debt as of fiscal year 2025.
Trutankless had 132M shares outstanding in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Margins & Returns
Trutankless's gross margin was 3.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 19.1 percentage points from the prior year.
Trutankless's operating margin was -329.7% in fiscal year 2025, reflecting core business profitability. This is up 1824.2 percentage points from the prior year.
Trutankless's net profit margin was -438.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3764.3 percentage points from the prior year.
Capital Allocation
Trutankless invested $164K in research and development in fiscal year 2025. This represents a decrease of 62.2% from the prior year.
Trutankless invested $298K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 55.1% from the prior year.
TKLS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $940K+181.2% | $334K+49.3% | $224K+137.1% | $94K-78.0% | $430K | N/A | $180K+1451.3% | $12K |
| Cost of Revenue | $496K+5.9% | $468K+174.1% | $171K+123.3% | $76K-76.5% | $326K | N/A | $115K | $0 |
| Gross Profit | $445K+433.1% | -$134K-350.8% | $53K+195.7% | $18K-82.7% | $104K | N/A | $64K+454.4% | $12K |
| R&D Expenses | $50K+74.9% | $29K-61.1% | $74K+9278.7% | $789-98.7% | $60K | N/A | $136K-43.7% | $242K |
| SG&A Expenses | $405K+102.7% | $200K-29.1% | $282K+75.1% | $161K-39.7% | $267K | N/A | $124K-77.0% | $537K |
| Operating Income | -$1.1M-110.5% | -$533K+21.0% | -$675K+31.2% | -$982K+28.9% | -$1.4M | N/A | -$2.1M-165.3% | -$775K |
| Interest Expense | $261K+21.7% | $215K-11.6% | $243K+35.3% | $180K-31.4% | $262K | N/A | $100K-29.4% | $142K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$1.9M-89.3% | -$992K-8.0% | -$918K+26.2% | -$1.2M+22.0% | -$1.6M | N/A | -$3.4M-215.6% | -$1.1M |
| EPS (Diluted) | $-0.01 | N/A | $-0.01-200.0% | $0.01+200.0% | $-0.01 | N/A | $-0.03-400.0% | $0.01 |
TKLS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.9M+88.3% | $3.1M-6.9% | $3.3M-7.9% | $3.6M+4.9% | $3.5M+1.8% | $3.4M+26.0% | $2.7M+303.7% | $668K |
| Current Assets | $4.7M+156.9% | $1.8M-8.8% | $2.0M-10.8% | $2.2M+9.1% | $2.1M-31.7% | $3.0M+19.2% | $2.5M+429.0% | $477K |
| Cash & Equivalents | $16K-25.5% | $22K-33.7% | $33K+170.8% | $12K+5.6% | $11K-98.9% | $1.0M+2792.3% | $35K+5845.0% | $584 |
| Inventory | $1.1M-32.9% | $1.6M-7.0% | $1.7M+41.1% | $1.2M+96.0% | $612K+74.5% | $351K+317.5% | $84K | N/A |
| Accounts Receivable | $427K+392.4% | $87K-26.5% | $118K+213.6% | $38K-65.0% | $108K+147.4% | $44K-47.6% | $83K | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $13.0M-0.5% | $13.1M+3.2% | $12.7M+5.1% | $12.1M+11.0% | $10.9M+11.4% | $9.7M+26.0% | $7.7M+11.6% | $6.9M |
| Current Liabilities | $10.0M-19.5% | $12.4M+3.8% | $12.0M+6.3% | $11.3M+22.7% | $9.2M+2.7% | $8.9M+27.6% | $7.0M+10.7% | $6.3M |
| Long-Term Debt | N/A | N/A | N/A | $739K-6.5% | $791K+705.2% | $98K+26.7% | $78K-21.2% | $98K |
| Total Equity | -$7.2M+28.2% | -$10.0M-6.8% | -$9.3M-10.6% | -$8.4M-13.9% | -$7.4M-16.6% | -$6.3M-26.1% | -$5.0M+19.5% | -$6.3M |
| Retained Earnings | -$83.7M-2.3% | -$81.9M-1.2% | -$80.9M-1.1% | -$79.9M-1.6% | -$78.7M-2.1% | -$77.1M-7.7% | -$71.6M-5.0% | -$68.2M |
TKLS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$50K-105.4% | $914K+218.9% | -$769K+16.6% | -$921K-30.3% | -$707K-9.3% | -$647K+23.4% | -$844K-100.3% | -$421K |
| Capital Expenditures | $0-100.0% | $17K-39.1% | $28K-44.5% | $50K-75.6% | $204K+6.0% | $192K | $0 | $0 |
| Free Cash Flow | -$50K-105.5% | $897K+212.7% | -$796K+18.0% | -$971K-6.6% | -$911K-8.6% | -$839K+0.7% | -$844K-100.3% | -$421K |
| Investing Cash Flow | $0+100.0% | -$17K+39.1% | -$28K+44.5% | -$50K+75.6% | -$204K-6.0% | -$192K | $0 | $0 |
| Financing Cash Flow | $44K+104.8% | -$908K-211.2% | $817K-15.9% | $972K+1283.0% | -$82K-104.5% | $1.8M+105.8% | $879K+108.7% | $421K |
| 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 |
TKLS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.3%+87.2pp | -39.9%-63.7pp | 23.8%+4.7pp | 19.1%-5.2pp | 24.3% | N/A | 35.7%-64.3pp | 100.0% |
| Operating Margin | -119.4%+40.1pp | -159.5%+142.0pp | -301.4%+738.0pp | -1039.5%-718.5pp | -321.0% | N/A | -1144.1%+5546.3pp | -6690.4% |
| Net Margin | -199.7%+97.0pp | -296.6%+113.3pp | -410.0%+907.9pp | -1317.8%-946.8pp | -371.1% | N/A | -1903.2%+7451.1pp | -9354.3% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -32.0%-0.2pp | -31.9%-4.4pp | -27.5%+6.8pp | -34.3%+11.8pp | -46.1% | N/A | -126.8%+35.4pp | -162.2% |
| Current Ratio | 0.47+0.3 | 0.15-0.0 | 0.17-0.0 | 0.20-0.0 | 0.22-0.1 | 0.34-0.0 | 0.36+0.3 | 0.08 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -5.3%-273.5pp | 268.2%+623.7pp | -355.5%+672.5pp | -1027.9%-816.2pp | -211.7% | N/A | -469.9%+3168.7pp | -3638.5% |
Note: Shareholder equity is negative (-$10.0M), 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 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Trutankless's annual revenue?
Trutankless (TKLS) reported $1.1M in total revenue for fiscal year 2025. This represents a 346.8% 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 Trutankless's revenue growing?
Trutankless (TKLS) revenue grew by 346.8% year-over-year, from $242K to $1.1M in fiscal year 2025.
Is Trutankless profitable?
No, Trutankless (TKLS) reported a net income of -$4.8M in fiscal year 2025, with a net profit margin of -438.7%.
What is Trutankless's EBITDA?
Trutankless (TKLS) had EBITDA of -$3.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Trutankless's gross margin?
Trutankless (TKLS) had a gross margin of 3.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Trutankless's operating margin?
Trutankless (TKLS) had an operating margin of -329.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Trutankless's net profit margin?
Trutankless (TKLS) had a net profit margin of -438.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Trutankless's free cash flow?
Trutankless (TKLS) generated -$1.8M in free cash flow during fiscal year 2025. This represents a 29.0% change compared to the previous fiscal year. 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 Trutankless's operating cash flow?
Trutankless (TKLS) generated -$1.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trutankless's total assets?
Trutankless (TKLS) had $3.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Trutankless's capital expenditures?
Trutankless (TKLS) invested $298K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Trutankless spend on research and development?
Trutankless (TKLS) invested $164K in research and development during fiscal year 2025.
What is Trutankless's current ratio?
Trutankless (TKLS) had a current ratio of 0.15 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Trutankless's return on assets (ROA)?
Trutankless (TKLS) had a return on assets of -152.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trutankless's cash runway?
Based on fiscal year 2025 data, Trutankless (TKLS) had $22K in cash against an annual operating cash burn of $1.5M. 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 Trutankless's debt-to-equity ratio negative or not reported?
Trutankless (TKLS) has negative shareholder equity of -$10.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Trutankless's Altman Z-Score?
Trutankless (TKLS) has an Altman Z-Score of -40.61, 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.
What is Trutankless's Piotroski F-Score?
Trutankless (TKLS) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Trutankless's earnings high quality?
Trutankless (TKLS) has an earnings quality ratio of 0.31x, 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 Trutankless cover its interest payments?
Trutankless (TKLS) has an interest coverage ratio of -4.0x, 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.