US Lighting Group Financials
This page shows US Lighting Group (USLG) 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).
Sales growth is improving fixed-cost absorption, but thin liquidity and reinvestment keep the business reliant on external funding.
From FY2022 to FY2023, revenue recovery to$3.6M coincided with operating cash burn shrinking to-$218K , so the core business consumed far less cash even before it reached profit. But capital spending of$601K pushed free cash flow to-$818K , leaving the company still dependent on financing rather than internally generated cash.
FY2023's gross margin recovery to
The balance sheet is being financed more by obligations than by retained capital: liabilities were about 2.5x assets in FY2023, and the current ratio was only 0.2x. With cash exhausted at
Financial Health Signals
We are recalculating US Lighting Group'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.
US Lighting Group scores -12.69, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($11K) relative to total liabilities ($7.7M). 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.
US Lighting Group 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, US Lighting Group generates $0.20 in operating cash flow (-$218K OCF vs -$1.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
US Lighting Group earns $-8.4 in operating income for every $1 of interest expense (-$1.1M vs $125K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
US Lighting Group generated $3.6M in revenue in fiscal year 2023. This represents an increase of 234.8% from the prior year.
US Lighting Group's EBITDA was -$858K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 48.4% from the prior year.
US Lighting Group reported -$1.1M in net income in fiscal year 2023. This represents an increase of 87.7% from the prior year.
US Lighting Group earned $-0.01 per diluted share (EPS) in fiscal year 2023. This represents an increase of 88.9% from the prior year.
Cash & Balance Sheet
US Lighting Group generated -$818K in free cash flow in fiscal year 2023, representing cash available after capex. This represents an increase of 62.5% from the prior year.
US Lighting Group held $0 in cash against $0 in long-term debt as of fiscal year 2023.
US Lighting Group had 103M shares outstanding in fiscal year 2023. This represents an increase of 4.2% from the prior year.
Margins & Returns
US Lighting Group's gross margin was 23.6% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is up 36.0 percentage points from the prior year.
US Lighting Group's operating margin was -29.0% in fiscal year 2023, reflecting core business profitability. This is up 131.4 percentage points from the prior year.
US Lighting Group's net profit margin was -30.5% in fiscal year 2023, showing the share of revenue converted to profit. This is up 799.6 percentage points from the prior year.
Capital Allocation
US Lighting Group invested $601K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 6.8% from the prior year.
USLG Income Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $152K+102.7% | $75K-74.2% | $291K-45.5% | $533K-29.4% | $755K-42.4% | $1.3M+27.9% | $1.0M+132.0% | $442K |
| Cost of Revenue | $197K+8.0% | $182K-46.3% | $340K-39.1% | $557K-19.0% | $689K-16.1% | $821K+17.1% | $701K+21.5% | $577K |
| Gross Profit | -$45K+58.1% | -$107K-118.3% | -$49K-102.7% | -$24K-136.5% | $67K-84.9% | $441K+35.9% | $324K+340.2% | -$135K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $248K-15.7% | $294K-17.3% | $356K+15.4% | $308K-52.8% | $652K+36.7% | $477K+1.0% | $472K-2.9% | $487K |
| Operating Income | -$293K+27.0% | -$401K+0.9% | -$405K-21.8% | -$332K+43.3% | -$586K-4369.2% | $14K+109.3% | -$148K+72.8% | -$544K |
| Interest Expense | N/A | N/A | N/A | $124K+41006.3% | $301-45.2% | $549+120.5% | $249-99.8% | $153K |
| Income Tax | $614 | N/A | $50 | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$339K+19.9% | -$423K+3.5% | -$439K-39.9% | -$314K+51.0% | -$641K-14481.4% | $4K+102.9% | -$155K+98.0% | -$7.6M |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | N/A | $0.00 | $0.00 | $0.00 | N/A |
USLG Balance Sheet
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0M+1.4% | $3.0M-0.1% | $3.0M-2.1% | $3.1M+2.2% | $3.0M-3.7% | $3.1M+6.7% | $2.9M+7.6% | $2.7M |
| Current Assets | $293K-12.7% | $336K+2.5% | $328K-10.4% | $365K+12.0% | $326K-42.2% | $564K+18.1% | $478K+14.4% | $418K |
| Cash & Equivalents | $3K-93.3% | $42K-13.6% | $49K | $0-100.0% | $4K-62.7% | $11K-75.9% | $46K-63.2% | $125K |
| Inventory | $102K-22.1% | $131K+16.2% | $113K-25.3% | $151K+27.5% | $119K+33.4% | $89K-52.9% | $189K-5.7% | $200K |
| Accounts Receivable | $146K+30.1% | $112K-1.3% | $113K-27.0% | $155K+33.6% | $116K-74.7% | $458K+181.5% | $163K+2633.7% | $6K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.9M+4.3% | $8.5M+5.2% | $8.1M+4.8% | $7.7M+112.8% | $3.6M-59.0% | $8.8M+2.1% | $8.7M+2.3% | $8.5M |
| Current Liabilities | $3.5M+12.6% | $3.1M+52.5% | $2.0M+8.7% | $1.9M+7.6% | $1.7M+23.7% | $1.4M-5.0% | $1.5M+27.9% | $1.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$5.8M-5.8% | -$5.5M-8.3% | -$5.1M-9.4% | -$4.6M-645.4% | -$624K+89.1% | -$5.7M+0.2% | -$5.7M+0.2% | -$5.8M |
| Retained Earnings | -$27.8M-1.2% | -$27.5M-1.6% | -$27.1M-1.6% | -$26.6M-1.2% | -$26.3M-2.5% | -$25.7M0.0% | -$25.7M-0.6% | -$25.5M |
USLG Cash Flow Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$110K-85.7% | -$59K+35.7% | -$92K-337.8% | -$21K+48.2% | -$41K-129.9% | $136K+146.7% | -$292K-142.1% | -$121K |
| Capital Expenditures | $88K+124.9% | $39K+63.4% | $24K-69.6% | $79K-55.3% | $177K+15.0% | $154K-19.0% | $190K-43.5% | $337K |
| Free Cash Flow | -$199K-101.3% | -$99K+15.2% | -$116K-16.1% | -$100K+54.0% | -$218K-1134.8% | -$18K+96.3% | -$482K-5.5% | -$457K |
| Investing Cash Flow | -$88K-124.9% | -$39K-63.4% | -$24K+69.6% | -$79K+55.3% | -$177K-15.0% | -$154K+19.0% | -$190K+24.5% | -$252K |
| Financing Cash Flow | $159K+72.9% | $92K-44.4% | $165K+72.1% | $96K-54.4% | $211K+1329.4% | -$17K-104.3% | $404K-6.6% | $432K |
| 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 |
USLG Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -29.7%+113.7pp | -143.4%-126.5pp | -16.9%-12.4pp | -4.6%-13.4pp | 8.8%-24.8pp | 33.6%+2.0pp | 31.6%+62.2pp | -30.6% |
| Operating Margin | -192.9%+343.0pp | -536.0%-396.6pp | -139.4%-77.0pp | -62.4%+15.2pp | -77.6%-78.6pp | 1.1%+15.5pp | -14.4%+108.6pp | -123.0% |
| Net Margin | -223.3%+342.1pp | -565.4%-414.3pp | -151.1%-92.2pp | -58.9%+26.0pp | -84.9%-85.2pp | 0.3%+15.4pp | -15.1%+1692.9pp | -1708.0% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -11.1%+3.0pp | -14.1%+0.5pp | -14.6%-4.4pp | -10.2%+11.1pp | -21.3%-21.5pp | 0.1%+5.4pp | -5.3%+272.7pp | -278.0% |
| Current Ratio | 0.08-0.0 | 0.11-0.1 | 0.16-0.0 | 0.190.0 | 0.19-0.2 | 0.40+0.1 | 0.32-0.0 | 0.36 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -130.9%+0.9pp | -131.8%-91.7pp | -40.1%-21.3pp | -18.8%+10.1pp | -28.9%-27.5pp | -1.4%+45.7pp | -47.0%+56.4pp | -103.4% |
Note: Shareholder equity is negative (-$4.6M), 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 (0.19), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is US Lighting Group's annual revenue?
US Lighting Group (USLG) reported $3.6M in total revenue for fiscal year 2023. This represents a 234.8% 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 US Lighting Group's revenue growing?
US Lighting Group (USLG) revenue grew by 234.8% year-over-year, from $1.1M to $3.6M in fiscal year 2023.
Is US Lighting Group profitable?
No, US Lighting Group (USLG) reported a net income of -$1.1M in fiscal year 2023, with a net profit margin of -30.5%.
What is US Lighting Group's EBITDA?
US Lighting Group (USLG) had EBITDA of -$858K in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is US Lighting Group's gross margin?
US Lighting Group (USLG) had a gross margin of 23.6% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is US Lighting Group's operating margin?
US Lighting Group (USLG) had an operating margin of -29.0% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is US Lighting Group's net profit margin?
US Lighting Group (USLG) had a net profit margin of -30.5% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is US Lighting Group's free cash flow?
US Lighting Group (USLG) generated -$818K in free cash flow during fiscal year 2023. This represents a 62.5% 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 US Lighting Group's operating cash flow?
US Lighting Group (USLG) generated -$218K in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are US Lighting Group's total assets?
US Lighting Group (USLG) had $3.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What are US Lighting Group's capital expenditures?
US Lighting Group (USLG) invested $601K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
What is US Lighting Group's current ratio?
US Lighting Group (USLG) had a current ratio of 0.19 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is US Lighting Group's return on assets (ROA)?
US Lighting Group (USLG) had a return on assets of -36.0% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is US Lighting Group's cash runway?
Based on fiscal year 2023 data, US Lighting Group (USLG) had $0 in cash against an annual operating cash burn of $218K. 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 US Lighting Group's debt-to-equity ratio negative or not reported?
US Lighting Group (USLG) has negative shareholder equity of -$4.6M as of fiscal year 2023, 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 US Lighting Group's Altman Z-Score?
US Lighting Group (USLG) has an Altman Z-Score of -12.69, 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 US Lighting Group's Piotroski F-Score?
US Lighting Group (USLG) 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 US Lighting Group's earnings high quality?
US Lighting Group (USLG) has an earnings quality ratio of 0.20x, 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 US Lighting Group cover its interest payments?
US Lighting Group (USLG) has an interest coverage ratio of -8.4x, 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.