Vestand Inc Financials
This page shows Vestand Inc (VSTD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Revenue growth is finally outrunning overhead, but the balance sheet remains creditor-funded despite a brief return to positive free cash flow.
From FY2023 to FY2024, revenue grew39.3% while SG&A rose only12.1% , so a larger share of each new sales dollar covered fixed overhead rather than deepening losses. Operating cash flow then swung to$875K from-$4.6M even with a net loss, indicating that non-cash charges and working-capital movements mattered more to liquidity than GAAP earnings in FY2024.
The move to positive free cash flow at
That cash improvement sits on top of a very thin equity cushion: FY2024 ended with just
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Vestand Inc'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.
Vestand Inc scores -0.97, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.4M) relative to total liabilities ($17.3M). 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.
Vestand Inc passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 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, Vestand Inc generates $-0.33 in operating cash flow ($875K OCF vs -$2.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Vestand Inc earns $-5.6 in operating income for every $1 of interest expense (-$2.6M vs $455K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Vestand Inc generated $12.8M in revenue in fiscal year 2024. This represents an increase of 39.3% from the prior year.
Vestand Inc's EBITDA was -$1.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.7% from the prior year.
Vestand Inc reported -$2.7M in net income in fiscal year 2024. This represents an increase of 12.3% from the prior year.
Vestand Inc earned $-1.98 per diluted share (EPS) in fiscal year 2024. This represents an increase of 13.5% from the prior year.
Cash & Balance Sheet
Vestand Inc generated $114K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 101.9% from the prior year.
Vestand Inc held $1.2M in cash against $0 in long-term debt as of fiscal year 2024.
Margins & Returns
Vestand Inc's operating margin was -19.9% in fiscal year 2024, reflecting core business profitability. This is up 18.3 percentage points from the prior year.
Vestand Inc's net profit margin was -20.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 12.2 percentage points from the prior year.
Vestand Inc's ROE was -1043.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 929.2 percentage points from the prior year.
Capital Allocation
Vestand Inc invested $762K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 48.2% from the prior year.
VSTD Income Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.7M+5.0% | $3.5M-4.7% | $3.7M+22.3% | $3.0M-9.3% | $3.3M+18.3% | $2.8M+12.4% | $2.5M+23.5% | $2.0M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.3M+0.1% | $1.3M+43.1% | $884K-5.5% | $936K-14.3% | $1.1M+18.6% | $920K+28.0% | $719K+50.5% | $478K |
| Operating Income | -$1.7M-33.7% | -$1.3M-697.1% | $213K+120.3% | -$1.0M-10.7% | -$947K-22.7% | -$772K-17.2% | -$659K+19.9% | -$823K |
| Interest Expense | $95K-72.3% | $341K+720.0% | $42K-74.2% | $161K+9.2% | $148K+41.7% | $104K+233.5% | $31K-34.9% | $48K |
| Income Tax | N/A | $17K | N/A | $12K-46.9% | $22K | N/A | N/A | $22K |
| Net Income | -$1.2M+15.5% | -$1.4M-376.4% | $515K+142.2% | -$1.2M-12.8% | -$1.1M-23.6% | -$876K-10292.0% | $9K+101.0% | -$885K |
| EPS (Diluted) | $-1.00-4.2% | $-0.96 | N/A | $-0.91-11.0% | $-0.82-26.2% | $-0.65 | N/A | $-0.67 |
VSTD Balance Sheet
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $19.1M+0.4% | $19.0M+8.0% | $17.6M+1.5% | $17.3M+1.1% | $17.1M+34.7% | $12.7M-2.4% | $13.0M-1.0% | $13.1M |
| Current Assets | $3.1M-15.0% | $3.6M+145.7% | $1.5M-20.3% | $1.8M+30.0% | $1.4M-7.4% | $1.5M-0.5% | $1.5M-40.6% | $2.6M |
| Cash & Equivalents | $1.3M-60.9% | $3.4M+173.7% | $1.2M-27.5% | $1.7M+43.4% | $1.2M-11.9% | $1.4M-7.3% | $1.5M-42.1% | $2.5M |
| Inventory | $231K+61.7% | $143K+2.7% | $139K+55.8% | $89K-19.8% | $112K+44.6% | $77K+5.7% | $73K+20.7% | $61K |
| Accounts Receivable | $102K+75.9% | $58K-31.4% | $84K+131.1% | $36K-66.4% | $108K+15.1% | $94K | N/A | N/A |
| Goodwill | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M | N/A | N/A |
| Total Liabilities | $14.4M-3.1% | $14.8M-14.3% | $17.3M-2.2% | $17.7M+8.0% | $16.4M+20.6% | $13.6M+31.1% | $10.4M-1.8% | $10.6M |
| Current Liabilities | $5.4M-3.0% | $5.5M-8.6% | $6.0M+2.5% | $5.9M+22.0% | $4.8M+39.3% | $3.5M+6.2% | $3.3M+45.5% | $2.2M |
| Long-Term Debt | $2.6M-7.1% | $2.8M | N/A | $3.0M+1.6% | $3.0M | N/A | N/A | N/A |
| Total Equity | $4.7M+13.1% | $4.1M+1522.8% | $255K+163.9% | -$400K-154.3% | $737K+184.1% | -$876K-133.0% | $2.7M+2.5% | $2.6M |
| Retained Earnings | -$14.7M-9.1% | -$13.4M-11.9% | -$12.0M+4.3% | -$12.5M-10.8% | -$11.3M-10.8% | -$10.2M-9.4% | -$9.3M+0.1% | -$9.3M |
VSTD Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$899K-4.1% | -$863K-198.2% | -$289K-153.3% | $543K-45.4% | $995K+366.5% | -$373K+70.9% | -$1.3M-67.8% | -$763K |
| Capital Expenditures | $217K+566.6% | $33K-89.9% | $324K+745.0% | $38K-8.6% | $42K-88.2% | $357K+170.1% | $132K-55.7% | $298K |
| Free Cash Flow | -$1.1M-24.6% | -$896K-45.9% | -$614K-221.6% | $505K-47.0% | $953K+230.5% | -$730K+48.3% | -$1.4M-33.1% | -$1.1M |
| Investing Cash Flow | -$2.7M-8230.1% | -$33K+89.9% | -$324K-745.0% | -$38K+97.9% | -$1.8M-416.5% | -$357K-170.1% | -$132K+55.7% | -$298K |
| Financing Cash Flow | $1.5M-49.3% | $3.1M+2034.8% | $143K+997.1% | $13K-98.1% | $686K+10.0% | $623K-13.4% | $720K+204.5% | $236K |
| 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 |
VSTD Financial Ratios
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -46.2%-9.9pp | -36.3%-42.1pp | 5.8%+40.6pp | -34.8%-6.3pp | -28.5%-1.0pp | -27.5%-1.1pp | -26.3%+14.3pp | -40.6% |
| Net Margin | -32.6%+7.9pp | -40.6%-54.5pp | 14.0%+54.5pp | -40.5%-8.0pp | -32.6%-1.4pp | -31.2%-31.5pp | 0.3%+44.0pp | -43.7% |
| Return on Equity | -25.7%+8.7pp | -34.4%-236.2pp | 201.8% | N/A | -147.0% | N/A | 0.3%+34.5pp | -34.2% |
| Return on Assets | -6.3%+1.2pp | -7.5%-10.4pp | 2.9%+10.0pp | -7.1%-0.7pp | -6.3%+0.6pp | -6.9%-7.0pp | 0.1%+6.8pp | -6.7% |
| Current Ratio | 0.57-0.1 | 0.65+0.4 | 0.24-0.1 | 0.31+0.0 | 0.29-0.1 | 0.44-0.0 | 0.47-0.7 | 1.15 |
| Debt-to-Equity | 0.55-0.1 | 0.67-67.1 | 67.81 | N/A | 4.01 | N/A | 3.91-0.2 | 4.08 |
| FCF Margin | -30.3%-4.7pp | -25.5%-8.9pp | -16.7%-33.4pp | 16.7%-11.9pp | 28.6%+54.6pp | -26.0%+30.5pp | -56.5%-4.1pp | -52.4% |
Note: The current ratio is below 1.0 (0.24), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Vestand Inc's annual revenue?
Vestand Inc (VSTD) reported $12.8M in total revenue for fiscal year 2024. This represents a 39.3% 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 Vestand Inc's revenue growing?
Vestand Inc (VSTD) revenue grew by 39.3% year-over-year, from $9.2M to $12.8M in fiscal year 2024.
Is Vestand Inc profitable?
No, Vestand Inc (VSTD) reported a net income of -$2.7M in fiscal year 2024, with a net profit margin of -20.8%.
What is Vestand Inc's EBITDA?
Vestand Inc (VSTD) had EBITDA of -$1.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Vestand Inc's operating margin?
Vestand Inc (VSTD) had an operating margin of -19.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Vestand Inc's net profit margin?
Vestand Inc (VSTD) had a net profit margin of -20.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Vestand Inc's return on equity (ROE)?
Vestand Inc (VSTD) has a return on equity of -1043.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Vestand Inc's free cash flow?
Vestand Inc (VSTD) generated $114K in free cash flow during fiscal year 2024. This represents a 101.9% 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 Vestand Inc's operating cash flow?
Vestand Inc (VSTD) generated $875K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Vestand Inc's total assets?
Vestand Inc (VSTD) had $17.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Vestand Inc's capital expenditures?
Vestand Inc (VSTD) invested $762K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Vestand Inc's current ratio?
Vestand Inc (VSTD) had a current ratio of 0.24 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Vestand Inc's debt-to-equity ratio?
Vestand Inc (VSTD) had a debt-to-equity ratio of 67.81 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vestand Inc's return on assets (ROA)?
Vestand Inc (VSTD) had a return on assets of -15.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Vestand Inc's Altman Z-Score?
Vestand Inc (VSTD) has an Altman Z-Score of -0.97, 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 Vestand Inc's Piotroski F-Score?
Vestand Inc (VSTD) has a Piotroski F-Score of 4 out of 6 computable signals; 3 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 Vestand Inc's earnings high quality?
Vestand Inc (VSTD) has an earnings quality ratio of -0.33x, considered mixed quality. 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 Vestand Inc cover its interest payments?
Vestand Inc (VSTD) has an interest coverage ratio of -5.6x, 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 Vestand Inc?
Vestand Inc (VSTD) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.