Taoweave Financials

TWAV

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Taoweave (TWAV) 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 TWAV FY2025 2026-04-22

Product-level economics are no longer the main issue; corporate overhead and external funding dominate how this business functions.

From FY2024 to FY2025, revenue was nearly unchanged, but gross margin jumped from 13.9% to 41.6%. Operating cash burn still sat near -$3.0M because SG&A remained far above gross profit, showing the bottleneck is overhead rather than product economics.

FY2025 gross profit of $1.0M covered only a fraction of SG&A at $3.9M, so even the margin rebound did not create operating self-funding. The business currently behaves like a small revenue stream carrying a public-company cost shell.

The balance sheet is lightly leveraged, with liabilities of $1.2M against assets of $8.2M, but liquidity is being preserved by capital raising rather than operations. Cash fell to $2.3M in FY2025 even after $9.0M of financing inflow, which financed both the recurring operating burn and a large investing outflow.

Financial Health Signals

Financial Profile 33/100

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 Taoweave'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.

Profitability

Taoweave has an operating margin of -121.5%, meaning the company retains $-122 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 -176.7% the prior year.

Growth

Taoweave's revenue grew a modest 2.5% year-over-year to $2.4M. This slow but positive growth earns a score of 0/100.

Leverage

Taoweave carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 6.93, Taoweave holds $6.93 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Taoweave generates a -90.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -101.0% the prior year.

Piotroski F-Score Weak

3/9

Taoweave passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.47x

For every $1 of reported earnings, Taoweave generates $0.47 in operating cash flow (-$3.0M OCF vs -$6.4M 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

$2.4M

YoY+2.5%

5Y CAGR-30.8%

10Y CAGR-20.9%

Taoweave generated $2.4M in revenue in fiscal year 2025. This represents an increase of 2.5% from the prior year.

EBITDA

N/A

Net Income

-$6.4M

YoY-57.2%

Taoweave reported -$6.4M in net income in fiscal year 2025. This represents a decrease of 57.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$2.3M

YoY-54.5%

5Y CAGR-15.6%

10Y CAGR+2.5%

Taoweave held $2.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+190.7%

Taoweave had 3M shares outstanding in fiscal year 2025. This represents an increase of 190.7% from the prior year.

Margins & Returns

Gross Margin

41.6%

YoY+27.7pp

5Y CAGR-10.9pp

Taoweave's gross margin was 41.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 27.7 percentage points from the prior year.

Operating Margin

-121.5%

YoY+55.2pp

5Y CAGR-55.9pp

10Y CAGR-119.6pp

Taoweave's operating margin was -121.5% in fiscal year 2025, reflecting core business profitability. This is up 55.2 percentage points from the prior year.

Net Margin

-260.8%

YoY-90.8pp

5Y CAGR-212.4pp

10Y CAGR-252.4pp

Taoweave's net profit margin was -260.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 90.8 percentage points from the prior year.

Return on Equity

-90.4%

YoY+10.6pp

5Y CAGR-56.7pp

10Y CAGR-56.8pp

Taoweave's ROE was -90.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 10.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$10K

YoY-93.5%

5Y CAGR-69.4%

Taoweave invested $10K in research and development in fiscal year 2025. This represents a decrease of 93.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

TWAV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.4M+2.5%	$2.4M-37.6%	$3.8M-30.4%	$5.5M-29.2%	$7.7M-49.5%	$15.3M
Cost of Revenue	$1.4M-30.5%	$2.0M-29.4%	$2.9M-26.2%	$3.9M-21.7%	$5.0M-31.0%	$7.3M
Gross Profit	$1.0M+206.3%	$331K-63.7%	$911K-41.1%	$1.5M-43.1%	$2.7M-66.2%	$8.1M
R&D Expenses	$10K-93.5%	$155K+675.0%	$20K-98.8%	$1.7M-41.7%	$2.9M-21.5%	$3.7M
SG&A Expenses	$3.9M-6.0%	$4.2M-13.8%	$4.9M-7.7%	$5.3M-17.1%	$6.4M-5.4%	$6.7M
Operating Income	-$3.0M+29.5%	-$4.2M+6.5%	-$4.5M+79.6%	-$22.0M-86.4%	-$11.8M-17.2%	-$10.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2K-80.0%	$10K-63.0%	$27K+485.7%	-$7K+92.2%	-$90K-187.4%	$103K
Net Income	-$6.4M-57.2%	-$4.0M+7.8%	-$4.4M+80.0%	-$21.9M-142.4%	-$9.1M-22.0%	-$7.4M
EPS (Diluted)	N/A	N/A	$-0.98	$-10.62-93.8%	$-5.48	$-1.48

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$622K+3.5%	$601K+1.5%	$592K-4.8%	$622K+10.5%	$563K-2.6%	$578K-5.4%	$611K-2.4%	$626K
Cost of Revenue	$329K-7.8%	$357K-1.9%	$364K-2.4%	$373K-12.9%	$428K-14.2%	$499K+1.6%	$491K-21.9%	$629K
Gross Profit	$293K+20.1%	$244K+7.0%	$228K-8.4%	$249K+84.4%	$135K+70.9%	$79K-34.2%	$120K+4100.0%	-$3K
R&D Expenses	$1K-66.7%	$3K0.0%	$3K0.0%	$3K+50.0%	$2K-94.7%	$38K-41.5%	$65K+30.0%	$50K
SG&A Expenses	$1.1M+2.7%	$1.0M+15.6%	$902K-2.9%	$929K-12.1%	$1.1M+1.0%	$1.0M+3.1%	$1.0M-5.7%	$1.1M
Operating Income	-$786K+2.0%	-$802K-17.4%	-$683K+1.2%	-$691K+25.5%	-$928K+13.4%	-$1.1M-5.3%	-$1.0M+14.0%	-$1.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$5K	$0	$0-100.0%	$7K+600.0%	$1K	$0-100.0%	$9K	$0
Net Income	-$2.8M-21.7%	-$2.3M-278.5%	-$605K+10.0%	-$672K+24.0%	-$884K+15.0%	-$1.0M-5.8%	-$983K+13.5%	-$1.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$-0.07

TWAV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$8.2M+55.8%	$5.3M-23.8%	$6.9M+22.3%	$5.7M-80.2%	$28.6M-1.8%	$29.1M
Current Assets	$8.2M+55.9%	$5.3M-23.6%	$6.9M+41.5%	$4.9M-61.8%	$12.8M+27.6%	$10.0M
Cash & Equivalents	$2.3M-54.5%	$5.0M-17.1%	$6.0M+94.2%	$3.1M-65.7%	$9.0M+70.6%	$5.3M
Inventory	$0	$0-100.0%	$239K-66.9%	$723K-60.3%	$1.8M+97.9%	$920K
Accounts Receivable	$138K-25.8%	$186K-56.1%	$424K+2.2%	$415K-51.1%	$849K-73.2%	$3.2M
Goodwill	N/A	$0	$0	$0-100.0%	$7.4M0.0%	$7.4M
Total Liabilities	$1.2M-6.8%	$1.3M-10.7%	$1.4M-30.3%	$2.0M-34.3%	$3.1M-56.1%	$7.1M
Current Liabilities	$1.2M-6.8%	$1.3M-9.0%	$1.4M-26.9%	$1.9M-23.3%	$2.5M-55.3%	$5.6M
Long-Term Debt	N/A	N/A	N/A	N/A	$0-100.0%	$403K
Total Equity	$7.0M+75.7%	$4.0M-27.2%	$5.5M+52.0%	$3.6M-85.8%	$25.5M+15.6%	$22.1M
Retained Earnings	-$238.6M-2.7%	-$232.3M-1.8%	-$228.2M-2.0%	-$223.8M-10.9%	-$201.9M-4.7%	-$192.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$8.2M-24.6%	$10.9M-16.6%	$13.1M+174.7%	$4.8M-9.9%	$5.3M-12.0%	$6.0M-4.9%	$6.3M+6.2%	$5.9M
Current Assets	$8.2M-24.6%	$10.9M-16.6%	$13.1M+174.9%	$4.8M-9.9%	$5.3M-12.0%	$6.0M-4.9%	$6.3M+6.3%	$5.9M
Cash & Equivalents	$2.3M-39.6%	$3.7M-65.4%	$10.8M+150.1%	$4.3M-13.1%	$5.0M-11.6%	$5.6M-4.1%	$5.9M+9.3%	$5.4M
Inventory	$0	N/A	N/A	N/A	$0-100.0%	$50K-43.2%	$88K-30.7%	$127K
Accounts Receivable	$138K+1050.0%	$12K-20.0%	$15K-86.7%	$113K-39.2%	$186K+463.6%	$33K+6.5%	$31K+106.7%	$15K
Goodwill	N/A	N/A	N/A	N/A	$0	N/A	N/A	N/A
Total Liabilities	$1.2M+10.8%	$1.1M-40.9%	$1.8M+29.0%	$1.4M+10.5%	$1.3M-3.8%	$1.3M+5.5%	$1.3M-16.5%	$1.5M
Current Liabilities	$1.2M+10.8%	$1.1M-40.9%	$1.8M+29.0%	$1.4M+10.5%	$1.3M-3.6%	$1.3M+5.9%	$1.2M-16.1%	$1.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.0M-28.4%	$9.8M-12.7%	$11.3M+235.9%	$3.4M-16.3%	$4.0M-14.3%	$4.7M-7.5%	$5.1M+13.9%	$4.4M
Retained Earnings	-$238.6M-1.2%	-$235.8M-1.0%	-$233.6M-0.3%	-$232.9M-0.3%	-$232.3M-0.4%	-$231.4M-0.5%	-$230.3M-0.4%	-$229.4M

TWAV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3.0M+11.5%	-$3.4M-13.8%	-$3.0M+49.6%	-$5.9M+23.3%	-$7.7M-17.8%	-$6.6M
Capital Expenditures	N/A	N/A	$0-100.0%	$11K-78.0%	$50K+31.6%	$38K
Free Cash Flow	N/A	N/A	-$3.0M+49.7%	-$5.9M+23.6%	-$7.8M-17.8%	-$6.6M
Investing Cash Flow	-$8.7M	$0	$0-100.0%	$19K+138.8%	-$49K-58.1%	-$31K
Financing Cash Flow	$9.0M+279.8%	$2.4M-59.6%	$5.9M	$0-100.0%	$11.5M+58.2%	$7.3M
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	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$744K+52.1%	-$1.6M-4100.0%	-$37K+94.6%	-$680K+23.2%	-$885K+2.9%	-$911K+7.0%	-$980K-55.6%	-$630K
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	-$736K+88.4%	-$6.3M	N/A	N/A	$0	$0	N/A	N/A
Financing Cash Flow	$0-100.0%	$846K-89.6%	$8.2M+26241.9%	$31K-86.6%	$231K-65.6%	$672K-54.5%	$1.5M	$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

TWAV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	41.6%+27.7pp	13.9%-10.0pp	23.9%-4.3pp	28.2%-6.9pp	35.1%-17.4pp	52.5%
Operating Margin	-121.5%+55.2pp	-176.7%-58.7pp	-118.0%+283.5pp	-401.5%-249.1pp	-152.4%-86.8pp	-65.6%
Net Margin	-260.8%-90.8pp	-170.0%-54.9pp	-115.1%+285.6pp	-400.7%-283.7pp	-117.0%-68.5pp	-48.4%
Return on Equity	-90.4%+10.6pp	-101.0%-21.3pp	-79.7%+526.8pp	-606.4%-570.9pp	-35.5%-1.9pp	-33.6%
Return on Assets	-77.3%-0.7pp	-76.6%-13.3pp	-63.3%+324.3pp	-387.6%-355.9pp	-31.6%-6.2pp	-25.5%
Current Ratio	6.93+2.8	4.14-0.8	4.93+2.4	2.55-2.6	5.11+3.3	1.79
Debt-to-Equity	0.17-0.1	0.32+0.1	0.26-0.3	0.56+0.6	0.00-0.0	0.02
FCF Margin	N/A	N/A	-78.6%+30.0pp	-108.6%-8.0pp	-100.6%-57.5pp	-43.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	47.1%+6.5pp	40.6%+2.1pp	38.5%-1.5pp	40.0%+16.0pp	24.0%+10.3pp	13.7%-6.0pp	19.6%+20.1pp	-0.5%
Operating Margin	-126.4%+7.1pp	-133.4%-18.1pp	-115.4%-4.3pp	-111.1%+53.7pp	-164.8%+20.6pp	-185.5%-18.9pp	-166.6%+22.5pp	-189.1%
Net Margin	-448.2%-67.2pp	-381.0%-278.8pp	-102.2%+5.8pp	-108.0%+49.0pp	-157.0%+22.9pp	-179.9%-19.0pp	-160.9%+20.6pp	-181.5%
Return on Equity	-39.6%-16.3pp	-23.3%-17.9pp	-5.4%+14.7pp	-20.1%+2.0pp	-22.1%+0.2pp	-22.3%-2.8pp	-19.5%+6.2pp	-25.6%
Return on Assets	-33.9%-12.9pp	-21.0%-16.4pp	-4.6%+9.5pp	-14.1%+2.6pp	-16.8%+0.6pp	-17.3%-1.8pp	-15.6%+3.5pp	-19.1%
Current Ratio	6.93-3.3	10.18+3.0	7.21+3.8	3.38-0.8	4.14-0.4	4.53-0.5	5.05+1.1	3.98
Debt-to-Equity	0.17+0.1	0.11-0.1	0.16-0.3	0.42+0.1	0.32+0.0	0.28+0.0	0.25-0.1	0.34
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Taoweave's annual revenue?

Taoweave (TWAV) reported $2.4M in total revenue for fiscal year 2025. This represents a 2.5% 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 Taoweave's revenue growing?

Taoweave (TWAV) revenue grew by 2.5% year-over-year, from $2.4M to $2.4M in fiscal year 2025.

Is Taoweave profitable?

No, Taoweave (TWAV) reported a net income of -$6.4M in fiscal year 2025, with a net profit margin of -260.8%.

What is Taoweave's gross margin?

Taoweave (TWAV) had a gross margin of 41.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Taoweave's operating margin?

Taoweave (TWAV) had an operating margin of -121.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Taoweave's net profit margin?

Taoweave (TWAV) had a net profit margin of -260.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Taoweave's return on equity (ROE)?

Taoweave (TWAV) has a return on equity of -90.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Taoweave's operating cash flow?

Taoweave (TWAV) generated -$3.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Taoweave's total assets?

Taoweave (TWAV) had $8.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Taoweave spend on research and development?

Taoweave (TWAV) invested $10K in research and development during fiscal year 2025.

How many shares does Taoweave have outstanding?

Taoweave (TWAV) had 3M shares outstanding as of fiscal year 2025.

What is Taoweave's current ratio?

Taoweave (TWAV) had a current ratio of 6.93 as of fiscal year 2025, which is generally considered healthy.

What is Taoweave's debt-to-equity ratio?

Taoweave (TWAV) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Taoweave's return on assets (ROA)?

Taoweave (TWAV) had a return on assets of -77.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Taoweave's cash runway?

Based on fiscal year 2025 data, Taoweave (TWAV) had $2.3M in cash against an annual operating cash burn of $3.0M. This gives an estimated cash runway of approximately 9 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.

What is Taoweave's Piotroski F-Score?

Taoweave (TWAV) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Taoweave's earnings high quality?

Taoweave (TWAV) has an earnings quality ratio of 0.47x, 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 Taoweave?

Taoweave (TWAV) scores 33 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.