Turnongreen Inc Financials

TOGI

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

Financial Health Signals

Financial Profile 19/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Turnongreen Inc has an operating margin of -72.2%, meaning the company retains $-72 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -111.3% the prior year.

Growth

Turnongreen Inc's revenue surged 16.9% year-over-year to $4.9M, reflecting rapid business expansion. This strong growth earns a score of 77/100.

Liquidity

Turnongreen Inc's current ratio of 0.21 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Turnongreen Inc generated -$2.7M in operating cash flow, capex of $42K consumed most of it, leaving -$2.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

Turnongreen Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.67x

For every $1 of reported earnings, Turnongreen Inc generates $0.67 in operating cash flow (-$2.7M OCF vs -$4.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-63.3x

Turnongreen Inc earns $-63.3 in operating income for every $1 of interest expense (-$3.5M vs $56K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Turnongreen Inc (TOGI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).

Export CSV

Key Financial Metrics

Revenue

$4.9M

YoY+16.9%

Turnongreen Inc generated $4.9M in revenue in fiscal year 2024. This represents an increase of 16.9% from the prior year.

EBITDA

-$3.5M

YoY+24.7%

Turnongreen Inc's EBITDA was -$3.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.7% from the prior year.

Free Cash Flow

-$2.7M

YoY+20.0%

Turnongreen Inc generated -$2.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 20.0% from the prior year.

Net Income

-$4.0M

YoY+17.8%

Turnongreen Inc reported -$4.0M in net income in fiscal year 2024. This represents an increase of 17.8% from the prior year.

EPS (Diluted)

$-0.02

YoY+50.0%

Turnongreen Inc earned $-0.02 per diluted share (EPS) in fiscal year 2024. This represents an increase of 50.0% from the prior year.

Cash & Debt

$27K

YoY+28.6%

Turnongreen Inc held $27K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

184M

YoY+0.0%

Turnongreen Inc had 184M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

43.2%

YoY+21.9pp

Turnongreen Inc's gross margin was 43.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 21.9 percentage points from the prior year.

Operating Margin

-72.2%

YoY+39.1pp

Turnongreen Inc's operating margin was -72.2% in fiscal year 2024, reflecting core business profitability. This is up 39.1 percentage points from the prior year.

Net Margin

-80.9%

YoY+34.2pp

Turnongreen Inc's net profit margin was -80.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 34.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$42K

YoY+0.0%

Turnongreen Inc invested $42K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.

TOGI Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	$4.9M+16.9%	$4.2M-23.9%	$5.5M+3.3%	$5.3M+18434382.8%	$29
Cost of Revenue	$2.8M-15.6%	$3.3M-5.7%	$3.5M+23359900.0%	$15	N/A
Gross Profit	$2.1M+137.1%	$895K-55.6%	$2.0M+19.8%	$1.7M+5806796.6%	$29
R&D Expenses	N/A	$418K-40.0%	$697K+38.3%	$504K	N/A
SG&A Expenses	$3.6M-12.4%	$4.1M+2.7%	$4.0M+91.4%	$2.1M+34452.6%	$6K
Operating Income	-$3.5M+24.2%	-$4.7M-10.9%	-$4.2M-130.7%	-$1.8M-15446.3%	-$12K
Interest Expense	-$56K	N/A	-$2K-119.9%	$10K+410.2%	$2K
Income Tax	$5K	N/A	N/A	-$44K-349.8%	-$10K
Net Income	-$4.0M+17.8%	-$4.8M-14.5%	-$4.2M-131.0%	-$1.8M-3847.9%	-$46K
EPS (Diluted)	$-0.02+50.0%	$-0.04+55.6%	$-0.09	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.7M+3.0%	$1.7M+6.3%	$1.6M+37.1%	$1.2M-6.1%	$1.2M+0.9%	$1.2M-14.6%	$1.4M+23.1%	$1.2M
Cost of Revenue	$1.0M+1.4%	$1.0M+17.3%	$862K+2.6%	$840K+25.7%	$668K+0.1%	$667K-23.9%	$876K-23.0%	$1.1M
Gross Profit	$717K+5.3%	$681K-6.7%	$730K+127.4%	$321K-43.5%	$568K+1.8%	$558K-0.2%	$559K+1896.4%	$28K
R&D Expenses	$105K-1.9%	$107K-14.4%	$125K+28.9%	$97K-4.9%	$102K-8.1%	$111K-2.6%	$114K+17.5%	$97K
SG&A Expenses	$823K-12.1%	$936K+4.6%	$895K+0.2%	$893K-5.5%	$945K+9.5%	$863K-33.8%	$1.3M+70.2%	$766K
Operating Income	-$349K+30.8%	-$504K-22.9%	-$410K+74.5%	-$1.6M-126.5%	-$710K-6.6%	-$666K+9.5%	-$736K+37.3%	-$1.2M
Interest Expense	$8K+14.3%	$7K0.0%	$7K+112.5%	-$56K	$0	$0	N/A	$2K
Income Tax	N/A	$2K	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$509K+21.8%	-$651K-20.3%	-$541K+69.6%	-$1.8M-123.1%	-$798K-8.6%	-$735K+6.0%	-$782K+34.8%	-$1.2M
EPS (Diluted)	$-0.010.0%	$-0.01	$0.00	$0.00	$0.00+100.0%	$-0.010.0%	$-0.010.0%	$-0.01

TOGI Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.7M-41.8%	$4.7M-29.1%	$6.7M+50.2%	$4.4M+8894.0%	$49K
Current Assets	$1.8M-40.7%	$3.0M-32.8%	$4.4M+16.1%	$3.8M+9378.6%	$40K
Cash & Equivalents	$27K+28.6%	$21K-77.9%	$95K-15.2%	$112K-56.6%	$258K
Inventory	$890K-33.5%	$1.3M-48.4%	$2.6M+108.3%	$1.2M+11304.0%	$11K
Accounts Receivable	$730K-24.4%	$966K-5.5%	$1.0M+63.0%	$627K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$33.5M-2.0%	$34.1M+13.7%	$30.0M+13.6%	$26.4M+6.7%	$24.8M
Current Liabilities	$8.3M-1.7%	$8.4M+125.3%	$3.7M+198.7%	$1.2M+1126.2%	$102K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	-$30.7M-4.4%	-$29.4M-25.8%	-$23.4M-6.3%	-$22.0M+11.0%	-$24.7M
Retained Earnings	-$47.1M-9.2%	-$43.1M-18.9%	-$36.3M-15.5%	-$31.4M-413.1%	-$6.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.7M+5.9%	$2.6M-9.6%	$2.9M+4.0%	$2.7M-30.3%	$3.9M-6.9%	$4.2M-10.3%	$4.7M-9.0%	$5.2M
Current Assets	$2.1M+11.2%	$1.9M-6.2%	$2.0M+15.8%	$1.8M-29.8%	$2.5M-4.8%	$2.6M-11.2%	$3.0M-9.8%	$3.3M
Cash & Equivalents	$67K-67.6%	$207K	N/A	$27K-57.1%	$63K-38.8%	$103K+390.5%	$21K-40.0%	$35K
Inventory	$1.1M-1.1%	$1.1M+3.2%	$1.1M+20.1%	$890K-17.4%	$1.1M-2.4%	$1.1M-17.5%	$1.3M-28.5%	$1.9M
Accounts Receivable	$951K+91.7%	$496K-47.0%	$935K+28.1%	$730K+16.1%	$629K-12.4%	$718K-25.7%	$966K+38.8%	$696K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$35.2M+1.9%	$34.5M+1.1%	$34.1M+1.9%	$33.5M-6.8%	$35.9M+2.9%	$34.9M+2.2%	$34.1M+2.5%	$33.3M
Current Liabilities	$10.0M+7.3%	$9.3M+4.4%	$9.0M+8.4%	$8.3M-20.7%	$10.4M+12.6%	$9.3M+10.2%	$8.4M-74.1%	$32.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$32.4M-1.6%	-$31.9M-2.1%	-$31.3M-1.8%	-$30.7M+3.9%	-$32.0M-4.3%	-$30.7M-4.2%	-$29.4M-4.6%	-$28.1M
Retained Earnings	-$48.8M-1.1%	-$48.3M-1.4%	-$47.6M-1.1%	-$47.1M-3.1%	-$45.7M-3.0%	-$44.3M-2.9%	-$43.1M-3.1%	-$41.8M

TOGI Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$2.7M+20.2%	-$3.3M-25.2%	-$2.7M+38.5%	-$4.3M-36910.8%	-$12K
Capital Expenditures	$42K0.0%	$42K-84.0%	$263K+1361.1%	$18K+2017.6%	$850
Free Cash Flow	-$2.7M+20.0%	-$3.4M-15.4%	-$2.9M+32.7%	-$4.4M-34553.0%	-$13K
Investing Cash Flow	-$42K0.0%	-$42K+84.0%	-$263K-1361.1%	-$18K-2017.6%	-$850
Financing Cash Flow	$2.7M-18.0%	$3.3M+13.5%	$2.9M-30.8%	$4.2M+22025.6%	-$19K
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	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	-$753K-52.1%	-$495K+20.2%	-$620K+10.5%	-$693K-2.7%	-$675K+16.0%	-$804K+26.7%	-$1.1M-59.7%	-$687K
Capital Expenditures	N/A	N/A	N/A	-$11K	$0-100.0%	$7K-50.0%	$14K0.0%	$14K
Free Cash Flow	N/A	N/A	N/A	-$704K-4.3%	-$675K+16.8%	-$811K+27.0%	-$1.1M-58.5%	-$701K
Investing Cash Flow	N/A	N/A	N/A	$11K	$0+100.0%	-$7K+50.0%	-$14K0.0%	-$14K
Financing Cash Flow	$704K+0.3%	$702K+18.4%	$593K-12.3%	$676K+6.5%	$635K-28.9%	$893K-18.6%	$1.1M+63.5%	$671K
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

TOGI Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	43.2%+21.9pp	21.3%-15.2pp	36.5%+5.0pp	31.5%-68.5pp	100.0%
Operating Margin	-72.2%+39.1pp	-111.3%-34.9pp	-76.3%-42.1pp	-34.2%+40490.0pp	-40524.1%
Net Margin	-80.9%+34.2pp	-115.1%-38.7pp	-76.4%-42.2pp	-34.2%+159545.1pp	-159579.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-144.7%-42.3pp	-102.5%-39.0pp	-63.4%-22.2pp	-41.2%+52.7pp	-94.0%
Current Ratio	0.21-0.1	0.35-0.8	1.18-1.9	3.03+2.6	0.39
Debt-to-Equity	-1.09+0.1	-1.16+0.1	-1.28-0.1	-1.20-0.2	-1.00
FCF Margin	-55.1%+25.4pp	-80.5%-27.4pp	-53.1%+28.4pp	-81.5%+43294.3pp	-43375.9%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	41.2%+0.9pp	40.3%-5.6pp	45.9%+18.2pp	27.7%-18.3pp	46.0%+0.4pp	45.6%+6.6pp	39.0%+36.5pp	2.4%
Operating Margin	-20.0%+9.8pp	-29.8%-4.0pp	-25.8%+112.8pp	-138.5%-81.1pp	-57.4%-3.1pp	-54.4%-3.1pp	-51.3%+49.4pp	-100.7%
Net Margin	-29.2%+9.3pp	-38.5%-4.5pp	-34.0%+119.3pp	-153.3%-88.8pp	-64.6%-4.6pp	-60.0%-5.5pp	-54.5%+48.3pp	-102.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-18.6%+6.6pp	-25.2%-6.3pp	-18.9%+45.9pp	-64.8%-44.6pp	-20.3%-2.9pp	-17.4%-0.8pp	-16.6%+6.6pp	-23.1%
Current Ratio	0.210.0	0.20-0.0	0.23+0.0	0.21-0.0	0.24-0.0	0.28-0.1	0.35+0.3	0.10
Debt-to-Equity	-1.080.0	-1.08+0.0	-1.090.0	-1.09+0.0	-1.12+0.0	-1.14+0.0	-1.16+0.0	-1.18
FCF Margin	N/A	N/A	N/A	-60.6%-6.0pp	-54.6%+11.6pp	-66.2%+11.2pp	-77.4%-17.3pp	-60.1%

Note: Shareholder equity is negative (-$30.7M), 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 (0.21), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Ozop Energy Solutions Inc OZSC

$1.5M

Cleantech Power Corp PWWRF

$1.0M

Hybrid Power Solutions HPSIF

$2.2M

Enerev5 Metals Inc ENEVF

$2.0M

Exro Technologis EXROF

$6.3M

Frequently Asked Questions

What is Turnongreen Inc's annual revenue?

Turnongreen Inc (TOGI) reported $4.9M in total revenue for fiscal year 2024. This represents a 16.9% 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 Turnongreen Inc's revenue growing?

Turnongreen Inc (TOGI) revenue grew by 16.9% year-over-year, from $4.2M to $4.9M in fiscal year 2024.

Is Turnongreen Inc profitable?

No, Turnongreen Inc (TOGI) reported a net income of -$4.0M in fiscal year 2024, with a net profit margin of -80.9%.

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

Turnongreen Inc (TOGI) reported diluted earnings per share of $-0.02 for fiscal year 2024. This represents a 50.0% 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 Turnongreen Inc's EBITDA?

Turnongreen Inc (TOGI) had EBITDA of -$3.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Turnongreen Inc's gross margin?

Turnongreen Inc (TOGI) had a gross margin of 43.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Turnongreen Inc's operating margin?

Turnongreen Inc (TOGI) had an operating margin of -72.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Turnongreen Inc's net profit margin?

Turnongreen Inc (TOGI) had a net profit margin of -80.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Turnongreen Inc's free cash flow?

Turnongreen Inc (TOGI) generated -$2.7M in free cash flow during fiscal year 2024. This represents a 20.0% 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 Turnongreen Inc's operating cash flow?

Turnongreen Inc (TOGI) generated -$2.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Turnongreen Inc's total assets?

Turnongreen Inc (TOGI) had $2.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Turnongreen Inc's capital expenditures?

Turnongreen Inc (TOGI) invested $42K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Turnongreen Inc have outstanding?

Turnongreen Inc (TOGI) had 184M shares outstanding as of fiscal year 2024.

What is Turnongreen Inc's current ratio?

Turnongreen Inc (TOGI) had a current ratio of 0.21 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Turnongreen Inc's debt-to-equity ratio?

Turnongreen Inc (TOGI) had a debt-to-equity ratio of -1.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Turnongreen Inc's return on assets (ROA)?

Turnongreen Inc (TOGI) had a return on assets of -144.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Turnongreen Inc's cash runway?

Based on fiscal year 2024 data, Turnongreen Inc (TOGI) had $27K in cash against an annual operating cash burn of $2.7M. 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 Turnongreen Inc's debt-to-equity ratio negative or unusual?

Turnongreen Inc (TOGI) has negative shareholder equity of -$30.7M as of fiscal year 2024, 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 Turnongreen Inc's Piotroski F-Score?

Turnongreen Inc (TOGI) has a Piotroski F-Score of 3 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 Turnongreen Inc's earnings high quality?

Turnongreen Inc (TOGI) has an earnings quality ratio of 0.67x, 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 Turnongreen Inc cover its interest payments?

Turnongreen Inc (TOGI) has an interest coverage ratio of -63.3x, 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 Turnongreen Inc?

Turnongreen Inc (TOGI) scores 19 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.