Veritec Financials
This page shows Veritec (VRTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Veritec’s survival mechanic is recurring external financing, because operating cash burn still outruns its very small revenue base.
For a second straight year, financing inflows of$553K were roughly equal to operating cash burn of$496K , which implies new cash is mainly replacing losses from day-to-day operations rather than funding expansion. In the latest year, interest expense of$550K exceeded revenue of$461K , so reported results are being shaped more by the balance sheet than by commercial scale.
The latest sales rebound did not create self-funding scale because SG&A of
Balance-sheet capacity is extremely thin: total assets were only
Financial Health Signals
We are recalculating Veritec'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.
Veritec scores -394.01, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4K) relative to total liabilities ($9.9M). 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.
Veritec passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Veritec generates $0.47 in operating cash flow (-$496K 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.
Veritec earns $-0.9 in operating income for every $1 of interest expense (-$508K vs $550K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Veritec generated $461K in revenue in fiscal year 2024. This represents an increase of 29.5% from the prior year.
Veritec reported -$1.1M in net income in fiscal year 2024. This represents an increase of 14.3% from the prior year.
Veritec earned $-0.03 per diluted share (EPS) in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Cash & Balance Sheet
Veritec held $0 in cash against $0 in long-term debt as of fiscal year 2024.
Veritec had 40M shares outstanding in fiscal year 2024. This represents a decrease of 0.1% from the prior year.
Margins & Returns
Veritec's operating margin was -110.2% in fiscal year 2024, reflecting core business profitability. This is up 97.1 percentage points from the prior year.
Veritec's net profit margin was -229.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 117.1 percentage points from the prior year.
Capital Allocation
VRTC Income Statement
| Metric | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $39K-75.6% | $160K+17.6% | $136K+27.1% | $107K+84.5% | $58K-4.9% | $61K-29.9% | $87K-18.7% | $107K |
| Cost of Revenue | N/A | N/A | $61K+96.8% | $31K-26.2% | $42K+2.4% | $41K-43.1% | $72K+50.0% | $48K |
| Gross Profit | N/A | N/A | $75K-1.3% | $76K+375.0% | $16K-20.0% | $20K+33.3% | $15K-74.6% | $59K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $223K+16.8% | $191K-20.4% | $240K+37.9% | $174K-8.9% | $191K-2.6% | $196K-16.9% | $236K+12.9% | $209K |
| Operating Income | -$241K-244.3% | -$70K+57.6% | -$165K-68.4% | -$98K+44.0% | -$175K+0.6% | -$176K+20.4% | -$221K-47.3% | -$150K |
| Interest Expense | $149K+7.2% | $139K-2.8% | $143K+4.4% | $137K+4.6% | $131K+1.6% | $129K+3.2% | $125K+2.5% | $122K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$209K+32.1% | -$308K-31.1% | -$235K+23.2% | -$306K-0.3% | -$305K+11.8% | -$346K-27.2% | -$272K |
| EPS (Diluted) | $-0.01 | N/A | N/A | N/A | $-0.01 | N/A | N/A | N/A |
VRTC Balance Sheet
| Metric | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $75K-43.2% | $132K-21.4% | $168K+51.4% | $111K+76.2% | $63K-14.9% | $74K-46.8% | $139K-29.1% | $196K |
| Current Assets | $75K-43.2% | $132K-21.4% | $168K+51.4% | $111K+76.2% | $63K-14.9% | $74K-46.8% | $139K-29.1% | $196K |
| Cash & Equivalents | $64K | $0-100.0% | $153K+159.3% | $59K+11.3% | $53K | $0-100.0% | $128K-30.1% | $183K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $6K-25.0% | $8K | N/A | N/A | N/A | $7K | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $10.2M+3.4% | $9.9M+1.8% | $9.7M+3.9% | $9.3M+3.1% | $9.0M+3.4% | $8.7M+2.8% | $8.5M+3.5% | $8.2M |
| Current Liabilities | $9.8M+3.5% | $9.5M+1.4% | $9.3M+4.1% | $9.0M+3.3% | $8.7M+3.5% | $8.4M+2.3% | $8.2M+3.8% | $7.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$10.1M-4.0% | -$9.7M-2.2% | -$9.5M-3.3% | -$9.2M-2.6% | -$9.0M-3.5% | -$8.7M-3.6% | -$8.4M-4.3% | -$8.0M |
| Retained Earnings | -$28.7M-1.4% | -$28.3M-0.7% | -$28.1M-1.1% | -$27.8M-0.9% | -$27.5M-1.1% | -$27.2M-1.1% | -$26.9M-1.3% | -$26.6M |
VRTC Cash Flow Statement
| Metric | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$152K-63.4% | -$93K+8.8% | -$102K+37.8% | -$164K-19.7% | -$137K+33.5% | -$206K-17.0% | -$176K-826.3% | -$19K |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $98K+69.0% | $58K-70.4% | $196K+15.3% | $170K+31.8% | $129K-7.2% | $139K+14.9% | $121K+142.0% | $50K |
| 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 |
VRTC Financial Ratios
| Metric | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | 55.1%-15.9pp | 71.0%+43.4pp | 27.6%-5.2pp | 32.8%+15.6pp | 17.2%-37.9pp | 55.1% |
| Operating Margin | -618.0%-574.2pp | -43.8%+77.6pp | -121.3%-29.7pp | -91.6%+210.1pp | -301.7%-13.2pp | -288.5%-34.5pp | -254.0%-113.8pp | -140.2% |
| Net Margin | N/A | -130.6%+95.8pp | -226.5%-6.8pp | -219.6%+308.0pp | -527.6%-27.6pp | -500.0%-102.3pp | -397.7%-143.5pp | -254.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -158.3%+25.0pp | -183.3%+28.4pp | -211.7%+274.0pp | -485.7%-73.6pp | -412.2%-163.2pp | -248.9%-110.1pp | -138.8% |
| Current Ratio | 0.010.0 | 0.010.0 | 0.020.0 | 0.010.0 | 0.010.0 | 0.010.0 | 0.020.0 | 0.02 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$9.7M), 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 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Veritec's annual revenue?
Veritec (VRTC) reported $461K in total revenue for fiscal year 2024. This represents a 29.5% 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 Veritec's revenue growing?
Veritec (VRTC) revenue grew by 29.5% year-over-year, from $356K to $461K in fiscal year 2024.
Is Veritec profitable?
No, Veritec (VRTC) reported a net income of -$1.1M in fiscal year 2024, with a net profit margin of -229.5%.
What is Veritec's operating margin?
Veritec (VRTC) had an operating margin of -110.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Veritec's net profit margin?
Veritec (VRTC) had a net profit margin of -229.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Veritec's operating cash flow?
Veritec (VRTC) generated -$496K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Veritec's total assets?
Veritec (VRTC) had $132K in total assets as of fiscal year 2024, including both current and long-term assets.
What is Veritec's current ratio?
Veritec (VRTC) had a current ratio of 0.01 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Veritec's return on assets (ROA)?
Veritec (VRTC) had a return on assets of -801.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Veritec's cash runway?
Based on fiscal year 2024 data, Veritec (VRTC) had $0 in cash against an annual operating cash burn of $496K. 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 Veritec's debt-to-equity ratio negative or not reported?
Veritec (VRTC) has negative shareholder equity of -$9.7M as of fiscal year 2024, 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 Veritec's Altman Z-Score?
Veritec (VRTC) has an Altman Z-Score of -394.01, 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 Veritec's Piotroski F-Score?
Veritec (VRTC) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Veritec's earnings high quality?
Veritec (VRTC) 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.
Can Veritec cover its interest payments?
Veritec (VRTC) has an interest coverage ratio of -0.9x, 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.