USBC INC. Financials

USBC

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

This page shows USBC INC. (USBC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).

Financial Health Signals

Piotroski F-Score Weak

3/9

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

Earnings Quality Low Quality

0.34x

For every $1 of reported earnings, USBC INC. generates $0.34 in operating cash flow (-$7.6M OCF vs -$22.1M 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

-15.2x

USBC INC. earns $-15.2 in operating income for every $1 of interest expense (-$18.0M vs $1.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

N/A

EBITDA

-$18.0M

YoY-19.0%

USBC INC.'s EBITDA was -$18.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.0% from the prior year.

Free Cash Flow

-$7.6M

YoY+41.1%

USBC INC. generated -$7.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 41.1% from the prior year.

Net Income

-$22.1M

YoY-33.4%

USBC INC. reported -$22.1M in net income in fiscal year 2025. This represents a decrease of 33.4% from the prior year.

EPS (Diluted)

$-0.39

USBC INC. earned $-0.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 95.0% from the prior year.

Cash & Debt

$8.8M

YoY+183.6%

5Y CAGR+15.5%

10Y CAGR+59.6%

USBC INC. held $8.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

388M

USBC INC. had 388M shares outstanding in fiscal year 2025. This represents an increase of 259.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$1.8M

YoY-71.3%

5Y CAGR-2.9%

10Y CAGR+17.1%

USBC INC. invested $1.8M in research and development in fiscal year 2025. This represents a decrease of 71.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

USBC INC. invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

USBC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	$0-100.0%	$4.4M	$0-100.0%	$122K
Cost of Revenue	N/A	N/A	N/A	N/A	$0-100.0%	$70K
Gross Profit	N/A	N/A	N/A	N/A	$0-100.0%	$52K
R&D Expenses	$1.8M-71.3%	$6.1M-20.9%	$7.7M+43.5%	$5.4M+35.7%	$4.0M+95.2%	$2.0M
SG&A Expenses	$16.3M+78.9%	$9.1M+38.6%	$6.6M-19.1%	$8.1M+25.4%	$6.5M+33.7%	$4.8M
Operating Income	-$18.0M-18.5%	-$15.2M-8.6%	-$14.0M-11.5%	-$12.6M-20.4%	-$10.4M-53.0%	-$6.8M
Interest Expense	$1.2M+42.7%	$831K+113.3%	$390K-95.2%	$8.0M-46.1%	$14.9M+144.7%	$6.1M
Income Tax	-$173K	$0	$0	$0	$0	$0
Net Income	-$22.1M-33.4%	-$16.6M-8.5%	-$15.3M+23.8%	-$20.1M+20.9%	-$25.4M-87.0%	-$13.6M
EPS (Diluted)	$-0.39	$-7.85	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	$239K-42.9%	$418K-47.9%	$802K	N/A	$1.3M-38.0%	$2.2M+46.3%	$1.5M
SG&A Expenses	N/A	$1.0M-43.2%	$1.8M-8.9%	$2.0M	N/A	$2.5M-2.5%	$2.6M+26.8%	$2.0M
Operating Income	N/A	-$1.3M+43.2%	-$2.2M+20.2%	-$2.8M	N/A	-$3.8M+18.8%	-$4.7M-35.1%	-$3.5M
Interest Expense	N/A	N/A	$1.4M+16.1%	$1.2M	N/A	$298K-58.4%	$717K	$0
Income Tax	N/A	$0	$0	$0	N/A	$0	$0	$0
Net Income	N/A	-$1.5M+57.3%	-$3.6M+23.3%	-$4.7M	N/A	-$4.1M+24.0%	-$5.4M-56.6%	-$3.4M
EPS (Diluted)	N/A	$-0.55+55.6%	$-1.24	$-0.04	N/A	$-2.02+24.9%	$-2.69-6625.0%	$-0.04

USBC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$125.1M+3313.3%	$3.7M-55.7%	$8.3M-39.9%	$13.8M+6.7%	$12.9M+175.3%	$4.7M
Current Assets	$9.8M+213.7%	$3.1M-61.2%	$8.0M-36.3%	$12.6M+2.7%	$12.3M+185.2%	$4.3M
Cash & Equivalents	$8.8M+183.6%	$3.1M-61.2%	$8.0M-36.3%	$12.6M+2.7%	$12.3M+185.2%	$4.3M
Inventory	N/A	N/A	N/A	N/A	N/A	$0
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$28.0M+380.4%	$5.8M+28.7%	$4.5M+16.1%	$3.9M-66.6%	$11.6M+76.6%	$6.6M
Current Liabilities	$3.7M-27.6%	$5.2M+14.2%	$4.5M+18.7%	$3.8M-65.5%	$11.0M+73.9%	$6.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$97.1M+4604.2%	-$2.2M-157.6%	$3.7M-62.0%	$9.9M+694.0%	$1.2M+164.9%	-$1.9M
Retained Earnings	-$163.1M-17.6%	-$138.7M-13.9%	-$121.8M-20.2%	-$101.4M-24.7%	-$81.3M-45.3%	-$56.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$125.1M+25293.3%	$493K-46.7%	$924K-40.3%	$1.5M-57.8%	$3.7M+33.6%	$2.7M-44.5%	$4.9M-1.5%	$5.0M
Current Assets	$9.8M+5556.8%	$173K-61.1%	$444K-57.0%	$1.0M-66.8%	$3.1M+46.0%	$2.1M-54.8%	$4.7M-2.3%	$4.8M
Cash & Equivalents	$8.8M+5014.1%	$173K-61.1%	$444K-57.0%	$1.0M-66.8%	$3.1M+46.0%	$2.1M-54.8%	$4.7M-2.3%	$4.8M
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	$28.0M+429.1%	$5.3M-22.4%	$6.8M+24.6%	$5.5M-6.2%	$5.8M-20.7%	$7.3M+9.7%	$6.7M+76.7%	$3.8M
Current Liabilities	$3.7M-27.1%	$5.1M-22.6%	$6.6M+27.6%	$5.2M+0.7%	$5.2M-15.6%	$6.1M+20.8%	$5.1M+33.7%	$3.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$97.1M+2126.6%	-$4.8M+18.5%	-$5.9M-50.3%	-$3.9M-81.6%	-$2.2M+53.1%	-$4.6M-162.3%	-$1.8M-243.1%	$1.2M
Retained Earnings	-$163.1M-8.2%	-$150.7M-2.5%	-$147.0M-2.5%	-$143.4M-3.4%	-$138.7M-2.7%	-$135.1M-3.2%	-$130.8M-4.4%	-$125.4M

USBC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$7.6M+40.8%	-$12.8M-23.9%	-$10.4M-49.6%	-$6.9M-1.0%	-$6.9M-75.0%	-$3.9M
Capital Expenditures	$0-100.0%	$66K-17.9%	$81K-90.6%	$855K+185.6%	$300K+327.1%	$70K
Free Cash Flow	-$7.6M+41.1%	-$12.9M-23.6%	-$10.4M-34.2%	-$7.8M-8.7%	-$7.2M-79.5%	-$4.0M
Investing Cash Flow	$0+100.0%	-$66K+17.9%	-$81K+90.6%	-$855K-185.6%	-$300K-327.1%	-$70K
Financing Cash Flow	$13.3M+66.7%	$8.0M+36.1%	$5.9M-27.7%	$8.1M-46.3%	$15.1M+136.8%	$6.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$0-100.0%	$855K	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$3.1M-140.6%	-$1.3M+0.6%	-$1.3M+31.6%	-$1.9M+41.7%	-$3.3M-28.9%	-$2.5M+30.9%	-$3.7M-7.7%	-$3.4M
Capital Expenditures	$0	$0	$0	$0	$0-100.0%	$54K+5365700.0%	-$1-100.0%	$13K
Free Cash Flow	-$3.1M-140.6%	-$1.3M+0.6%	-$1.3M+31.6%	-$1.9M+41.7%	-$3.3M-26.2%	-$2.6M+29.4%	-$3.7M-7.3%	-$3.4M
Investing Cash Flow	$0	$0	$0	$0	$0+100.0%	-$54K-5365700.0%	$1+100.0%	-$13K
Financing Cash Flow	$11.8M+1052.7%	$1.0M+43.5%	$711K+494.8%	-$180K-104.2%	$4.2M	$0-100.0%	$3.5M+1644.5%	$203K
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

USBC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	42.8%
Operating Margin	N/A	N/A	N/A	-288.4%	N/A	-5597.8%
Net Margin	N/A	N/A	N/A	-460.3%	N/A	-11122.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-17.7%+434.8pp	-452.5%-267.5pp	-185.0%-39.1pp	-145.9%+50.9pp	-196.8%+92.9pp	-289.7%
Current Ratio	2.61+2.0	0.60-1.2	1.77-1.5	3.31+2.2	1.11+0.4	0.68
Debt-to-Equity	0.29+3.0	-2.70-3.9	1.21+0.8	0.40-9.0	9.38+12.8	-3.45
FCF Margin	N/A	N/A	N/A	-178.3%	N/A	-3267.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-310.3%+76.9pp	-387.3%-85.8pp	-301.5%	N/A	-149.6%-40.3pp	-109.3%-40.6pp	-68.8%
Current Ratio	2.61+2.6	0.03-0.0	0.07-0.1	0.20-0.4	0.60+0.3	0.35-0.6	0.93-0.3	1.27
Debt-to-Equity	0.29+1.4	-1.10+0.1	-1.16+0.2	-1.40+1.3	-2.70-1.1	-1.60+2.2	-3.82-6.9	3.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Mesa Laboratories MLAB

$404.6M

Microvision MVIS

$170.3M

Vishay Precision Group Inc VPG

$592.3M

Ituran Location ITRN

$994.3M

Faro Technologies Inc FARO

$848.0M

Frequently Asked Questions

Is USBC INC. profitable?

No, USBC INC. (USBC) reported a net income of -$22.1M in fiscal year 2025.

What is USBC INC.'s earnings per share (EPS)?

USBC INC. (USBC) reported diluted earnings per share of $-0.39 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.

What is USBC INC.'s EBITDA?

USBC INC. (USBC) had EBITDA of -$18.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is USBC INC.'s free cash flow?

USBC INC. (USBC) generated -$7.6M in free cash flow during fiscal year 2025. This represents a 41.1% 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 USBC INC.'s operating cash flow?

USBC INC. (USBC) generated -$7.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are USBC INC.'s total assets?

USBC INC. (USBC) had $125.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are USBC INC.'s capital expenditures?

USBC INC. (USBC) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does USBC INC. spend on research and development?

USBC INC. (USBC) invested $1.8M in research and development during fiscal year 2025.

How many shares does USBC INC. have outstanding?

USBC INC. (USBC) had 388M shares outstanding as of fiscal year 2025.

What is USBC INC.'s current ratio?

USBC INC. (USBC) had a current ratio of 2.61 as of fiscal year 2025, which is generally considered healthy.

What is USBC INC.'s debt-to-equity ratio?

USBC INC. (USBC) had a debt-to-equity ratio of 0.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is USBC INC.'s return on assets (ROA)?

USBC INC. (USBC) had a return on assets of -17.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is USBC INC.'s cash runway?

Based on fiscal year 2025 data, USBC INC. (USBC) had $8.8M in cash against an annual operating cash burn of $7.6M. This gives an estimated cash runway of approximately 14 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 USBC INC.'s Piotroski F-Score?

USBC INC. (USBC) 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 USBC INC.'s earnings high quality?

USBC INC. (USBC) has an earnings quality ratio of 0.34x, 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 USBC INC. cover its interest payments?

USBC INC. (USBC) has an interest coverage ratio of -15.2x, 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.