Simplicity Espor Financials

WINR

Source SEC Filings (10-K/10-Q) Updated Feb 28, 2023 Currency USD FYE May

This page shows Simplicity Espor (WINR) 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).

Rhea AI WINR FY2022 2026-04-22

Rapid sales growth did not create scale; weaker margins, cash burn, and debt-funded survival dominated the business by FY2022.

From FY2020 to FY2022, revenue rose from $861K to $3.6M. Meanwhile, gross margin compressed to 29.9% and operating cash burn still reached -$2.7M, so added sales were arriving with lower contribution instead of covering fixed costs, which makes the larger revenue base less valuable than it first appears.

By FY2022, interest expense was $4.5M against revenue of $3.6M. Because interest also exceeded gross profit, the balance sheet was steering results as much as the underlying operation, leaving little room for operating improvement to show up in net income before any growth spending is considered.

Liquidity had become thin: cash was only $103K and the current ratio was 0.1x. Long-term debt reached $5.9M while equity fell to -$3.8M, showing losses had exhausted the capital cushion and increased reliance on financing rather than internally generated cash.

Financial Health Signals

Financial Profile 32/100

Based on FY2022 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 Simplicity Espor'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

Simplicity Espor has an operating margin of -310.5%, meaning the company retains $-310 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 down from -309.1% the prior year.

Growth

100

Simplicity Espor's revenue surged 128.9% year-over-year to $3.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Simplicity Espor carries a low D/E ratio of -1.56, meaning only $-1.56 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Simplicity Espor's current ratio of 0.11 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Simplicity Espor generated -$2.7M in operating cash flow, capex of $361K consumed most of it, leaving -$3.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Simplicity Espor passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.15x

For every $1 of reported earnings, Simplicity Espor generates $0.15 in operating cash flow (-$2.7M OCF vs -$17.5M 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

-2.4x

Simplicity Espor earns $-2.4 in operating income for every $1 of interest expense (-$11.0M vs $4.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$3.6M

YoY+128.9%

Simplicity Espor generated $3.6M in revenue in fiscal year 2022. This represents an increase of 128.9% from the prior year.

EBITDA

-$10.7M

YoY-150.2%

Simplicity Espor's EBITDA was -$10.7M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 150.2% from the prior year.

Net Income

-$17.5M

YoY-187.8%

Simplicity Espor reported -$17.5M in net income in fiscal year 2022. This represents a decrease of 187.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$3.0M

YoY-87.7%

Simplicity Espor generated -$3.0M in free cash flow in fiscal year 2022, representing cash available after capex. This represents a decrease of 87.7% from the prior year.

Cash & Debt

$103K

YoY-75.0%

Simplicity Espor held $103K in cash against $5.9M in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

YoY+28.3%

Simplicity Espor had 2M shares outstanding in fiscal year 2022. This represents an increase of 28.3% from the prior year.

Margins & Returns

Gross Margin

29.8%

YoY-4.8pp

Simplicity Espor's gross margin was 29.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 4.8 percentage points from the prior year.

Operating Margin

-310.5%

YoY-1.4pp

Simplicity Espor's operating margin was -310.5% in fiscal year 2022, reflecting core business profitability. This is down 1.4 percentage points from the prior year.

Net Margin

-493.9%

YoY-101.0pp

Simplicity Espor's net profit margin was -493.9% in fiscal year 2022, showing the share of revenue converted to profit. This is down 101.0 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$361K

YoY+18426.7%

Simplicity Espor invested $361K in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents an increase of 18426.7% from the prior year.

WINR Income Statement

Metric	FY22	FY21	FY20	FY19	FY18
Revenue	$3.6M+128.9%	$1.6M+80.2%	$861K+2167.2%	$38K	N/A
Cost of Revenue	$2.5M+145.7%	$1.0M+140.1%	$423K	N/A	N/A
Gross Profit	$1.1M+97.2%	$538K+22.5%	$439K+1055.1%	$38K	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.0M+45.2%	$1.4M+42.5%	$983K-77.4%	$4.4M+720.5%	$531K
Operating Income	-$11.0M-129.9%	-$4.8M-75.6%	-$2.7M+36.7%	-$4.3M-713.3%	-$531K
Interest Expense	$4.5M+222.8%	$1.4M+4210.2%	$32K+39.6%	$23K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	-$17.5M-187.8%	-$6.1M-128.7%	-$2.7M+25.2%	-$3.6M-40131.0%	-$9K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Revenue	$145K-17.5%	$175K-49.1%	$344K-62.4%	$915K+3.0%	$889K+5.3%	$844K-6.7%	$905K+44.5%	$626K
Cost of Revenue	$46K-37.2%	$73K-22.2%	$94K-89.1%	$863K+60.8%	$537K+10.5%	$485K-20.1%	$607K-6.1%	$647K
Gross Profit	$98K-3.3%	$102K-59.2%	$250K+376.6%	$52K-85.1%	$352K-1.8%	$358K+20.4%	$298K+1565.4%	-$20K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$153K-41.1%	$260K-4.8%	$273K-56.3%	$626K+17.8%	$531K+23.0%	$432K-2.6%	$444K-10.4%	$495K
Operating Income	-$205K+80.5%	-$1.0M+69.7%	-$3.5M+51.0%	-$7.1M-598.4%	-$1.0M+3.5%	-$1.0M+44.7%	-$1.9M-74.0%	-$1.1M
Interest Expense	$82K	N/A	$847K-50.4%	$1.7M+70.3%	$1.0M-12.5%	$1.1M+73.7%	$660K+45.9%	$452K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$775K	N/A	-$4.2M+55.1%	-$9.3M-373.3%	-$2.0M+8.2%	-$2.1M+49.4%	-$4.2M-179.0%	-$1.5M
EPS (Diluted)	$-0.04-107.5%	$0.53	N/A	N/A	$-1.21+12.9%	$-1.39	N/A	N/A

WINR Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18
Total Assets	$3.8M-62.5%	$10.2M+18.8%	$8.6M+10.8%	$7.8M-85.5%	$53.4M
Current Assets	$507K-39.2%	$834K+169.7%	$309K-79.9%	$1.5M+233.9%	$461K
Cash & Equivalents	$103K-75.0%	$414K+158.6%	$160K-89.6%	$1.5M+236.2%	$458K
Inventory	$115K-44.3%	$207K+1211.0%	$16K	N/A	N/A
Accounts Receivable	$61K-62.2%	$160K+25.4%	$128K	N/A	N/A
Goodwill	$1.5M-71.6%	$5.2M+0.5%	$5.2M+15.7%	$4.5M	N/A
Total Liabilities	$7.7M+36.6%	$5.6M+52.8%	$3.7M+94.9%	$1.9M-96.1%	$48.4M
Current Liabilities	$4.8M+13.6%	$4.2M+42.5%	$3.0M+63.5%	$1.8M+641.3%	$245K
Long-Term Debt	$5.9M+164.9%	$2.2M0.0%	$2.2M+102.2%	$1.1M	N/A
Total Equity	-$3.8M-185.3%	$4.4M-10.5%	$4.9M-15.9%	$5.9M+17.4%	$5.0M
Retained Earnings	-$29.8M-142.7%	-$12.3M-98.4%	-$6.2M-73.3%	-$3.6M-37395.3%	-$10K

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Total Assets	$282K-29.6%	$400K-64.0%	$1.1M-70.9%	$3.8M-64.3%	$10.7M-0.6%	$10.8M+3.2%	$10.5M+2.5%	$10.2M
Current Assets	$254K-23.0%	$329K-38.5%	$535K+5.5%	$507K-58.6%	$1.2M-16.0%	$1.5M+26.7%	$1.2M+38.0%	$834K
Cash & Equivalents	$29K-54.6%	$64K-34.3%	$98K-5.7%	$103K-68.4%	$328K-60.6%	$832K+23.6%	$674K+62.6%	$414K
Inventory	N/A	N/A	$39K-65.7%	$115K-63.1%	$312K-14.4%	$365K+22.8%	$297K+43.5%	$207K
Accounts Receivable	$29K+78.2%	$16K+233.2%	$5K-92.0%	$61K0.0%	$61K-42.0%	$105K-24.9%	$139K-13.1%	$160K
Goodwill	N/A	N/A	N/A	$1.5M-71.6%	$5.2M0.0%	$5.2M0.0%	$5.2M0.0%	$5.2M
Total Liabilities	$9.7M-19.1%	$12.0M+43.0%	$8.4M+9.6%	$7.7M+15.9%	$6.6M+36.6%	$4.8M+1.9%	$4.8M-15.3%	$5.6M
Current Liabilities	$9.4M-9.5%	$10.4M+72.5%	$6.1M+25.7%	$4.8M+27.5%	$3.8M+49.0%	$2.5M-18.4%	$3.1M-26.7%	$4.2M
Long-Term Debt	$5.5M-2.3%	$5.7M+1.0%	$5.6M-4.1%	$5.9M+82.2%	$3.2M+60.3%	$2.0M+753.6%	$235K-89.4%	$2.2M
Total Equity	-$9.4M+18.8%	-$11.6M-59.3%	-$7.3M-93.6%	-$3.8M-193.2%	$4.0M-31.1%	$5.9M+5.0%	$5.6M+26.4%	$4.4M
Retained Earnings	-$29.2M-2.7%	-$28.4M+16.3%	-$34.0M-13.9%	-$29.8M-44.9%	-$20.6M-10.5%	-$18.6M-12.9%	-$16.5M-34.3%	-$12.3M

WINR Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$2.7M-65.6%	-$1.6M-6.2%	-$1.5M-9.2%	-$1.4M-196.8%	-$470K
Capital Expenditures	$361K+18426.7%	$2K-98.8%	$163K+33.4%	$123K	N/A
Free Cash Flow	-$3.0M-87.7%	-$1.6M+4.0%	-$1.7M-11.1%	-$1.5M	N/A
Investing Cash Flow	-$515K-239.0%	-$152K-10.7%	-$137K+29.9%	-$196K+99.6%	-$52.4M
Financing Cash Flow	$2.9M+42.5%	$2.0M+621.3%	$281K-89.5%	$2.7M-95.0%	$53.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Operating Cash Flow	-$166K+51.5%	-$343K-96.7%	-$174K+13.7%	-$202K+45.6%	-$371K+68.0%	-$1.2M-23.1%	-$944K-18.0%	-$800K
Capital Expenditures	N/A	N/A	N/A	$8K-97.5%	$339K+4531.7%	-$8K-136.5%	$21K+399.4%	-$7K
Free Cash Flow	N/A	N/A	N/A	-$210K+70.4%	-$711K+39.2%	-$1.2M-21.2%	-$965K-19.6%	-$807K
Investing Cash Flow	$35K-77.2%	$155K+104.8%	$76K+146.5%	-$162K+52.1%	-$339K-4531.7%	$8K+136.5%	-$21K+85.3%	-$143K
Financing Cash Flow	$96K-38.1%	$155K+66.5%	$93K-33.7%	$140K-31.9%	$206K-84.3%	$1.3M+7.3%	$1.2M+55.9%	$785K
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

WINR Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18
Gross Margin	29.8%-4.8pp	34.6%-16.3pp	50.9%-49.1pp	100.0%	N/A
Operating Margin	-310.5%-1.4pp	-309.1%+8.0pp	-317.2%+11040.1pp	-11357.3%	N/A
Net Margin	-493.9%-101.0pp	-392.9%-83.4pp	-309.5%+9074.1pp	-9383.5%	N/A
Return on Equity	N/A	-138.0%-84.0pp	-54.0%+6.8pp	-60.8%-60.6pp	-0.2%
Return on Assets	-458.5%-398.8pp	-59.7%-28.7pp	-31.0%+14.9pp	-46.0%-46.0pp	-0.0%
Current Ratio	0.11-0.1	0.20+0.1	0.10-0.7	0.85-1.0	1.88
Debt-to-Equity	-1.56-2.1	0.50+0.1	0.45+0.3	0.19-9.5	9.67
FCF Margin	-85.6%+18.8pp	-104.4%+91.4pp	-195.8%+3798.9pp	-3994.7%	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Gross Margin	68.1%+10.0pp	58.1%-14.4pp	72.5%+66.8pp	5.7%-33.9pp	39.6%-2.9pp	42.5%+9.6pp	32.9%+36.1pp	-3.2%
Operating Margin	-141.7%+456.8pp	-598.5%+407.5pp	-1006.0%-233.7pp	-772.3%-658.4pp	-113.9%+10.4pp	-124.4%+85.5pp	-209.8%-35.6pp	-174.2%
Net Margin	-536.2%	N/A	-1208.1%-197.5pp	-1010.6%-790.6pp	-220.0%+32.4pp	-252.3%+213.0pp	-465.4%-224.4pp	-241.0%
Return on Equity	N/A	N/A	N/A	N/A	-48.4%-12.0pp	-36.3%+39.1pp	-75.4%-41.3pp	-34.2%
Return on Assets	-275.0%	N/A	-373.8%-132.1pp	-241.8%-223.5pp	-18.2%+1.5pp	-19.7%+20.5pp	-40.3%-25.5pp	-14.8%
Current Ratio	0.030.0	0.03-0.1	0.09-0.0	0.11-0.2	0.32-0.3	0.58+0.2	0.37+0.2	0.20
Debt-to-Equity	-0.59-0.1	-0.49+0.3	-0.77+0.8	-1.56-2.4	0.80+0.5	0.34+0.3	0.04-0.5	0.50
FCF Margin	N/A	N/A	N/A	-23.0%+57.0pp	-80.0%+58.6pp	-138.6%-32.0pp	-106.6%+22.2pp	-128.8%

Note: Shareholder equity is negative (-$3.8M), 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 (0.11), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Simplicity Espor's annual revenue?

Simplicity Espor (WINR) reported $3.6M in total revenue for fiscal year 2022. This represents a 128.9% 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 Simplicity Espor's revenue growing?

Simplicity Espor (WINR) revenue grew by 128.9% year-over-year, from $1.6M to $3.6M in fiscal year 2022.

Is Simplicity Espor profitable?

No, Simplicity Espor (WINR) reported a net income of -$17.5M in fiscal year 2022, with a net profit margin of -493.9%.

What is Simplicity Espor's EBITDA?

Simplicity Espor (WINR) had EBITDA of -$10.7M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Simplicity Espor have?

As of fiscal year 2022, Simplicity Espor (WINR) had $103K in cash and equivalents against $5.9M in long-term debt.

What is Simplicity Espor's gross margin?

Simplicity Espor (WINR) had a gross margin of 29.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.

What is Simplicity Espor's operating margin?

Simplicity Espor (WINR) had an operating margin of -310.5% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.

What is Simplicity Espor's net profit margin?

Simplicity Espor (WINR) had a net profit margin of -493.9% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.

What is Simplicity Espor's free cash flow?

Simplicity Espor (WINR) generated -$3.0M in free cash flow during fiscal year 2022. This represents a -87.7% 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 Simplicity Espor's operating cash flow?

Simplicity Espor (WINR) generated -$2.7M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are Simplicity Espor's total assets?

Simplicity Espor (WINR) had $3.8M in total assets as of fiscal year 2022, including both current and long-term assets.

What are Simplicity Espor's capital expenditures?

Simplicity Espor (WINR) invested $361K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How many shares does Simplicity Espor have outstanding?

Simplicity Espor (WINR) had 2M shares outstanding as of fiscal year 2022.

What is Simplicity Espor's current ratio?

Simplicity Espor (WINR) had a current ratio of 0.11 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is Simplicity Espor's debt-to-equity ratio?

Simplicity Espor (WINR) had a debt-to-equity ratio of -1.56 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Simplicity Espor's return on assets (ROA)?

Simplicity Espor (WINR) had a return on assets of -458.5% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.

What is Simplicity Espor's cash runway?

Based on fiscal year 2022 data, Simplicity Espor (WINR) had $103K in cash against an annual operating cash burn of $2.7M. 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 Simplicity Espor's debt-to-equity ratio negative or unusual?

Simplicity Espor (WINR) has negative shareholder equity of -$3.8M as of fiscal year 2022, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 Simplicity Espor's Piotroski F-Score?

Simplicity Espor (WINR) has a Piotroski F-Score of 2 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 Simplicity Espor's earnings high quality?

Simplicity Espor (WINR) has an earnings quality ratio of 0.15x, 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 Simplicity Espor cover its interest payments?

Simplicity Espor (WINR) has an interest coverage ratio of -2.4x, 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.

How financially healthy is Simplicity Espor?

Simplicity Espor (WINR) scores 32 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.