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SOLARWINDOW TECH INC (WNDW) Financials

WNDW
FY2025 annual
Net Income -$2.3M +34.7% YoY
EPS (Diluted) -$0.04 +33.3% YoY
Free Cash Flow -$1.5M +11.6% YoY
Operating Cash Flow -$1.5M +13.7% YoY
Market Cap $115.1M as of Oct 19, 2026
Price / Sales n/m no revenue reported
Price / Earnings n/m net loss, so no earnings multiple, FY2025
Price / Book 25.1x on $4.6M equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended May 31, 2026 Reported Currency USD FYE August

Newest figures come from the 10-Q for Q3 FY2026, filed Jul 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WNDW SEC filings page.

This page shows SOLARWINDOW TECH INC (WNDW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 WNDW FY2025

SolarWindow's externally funded research operation remains driven by operating expenses—not sales in the reported figures.

Cash conversion shows that FY2025 operating cash flow of -$1.5M was nearly identical to free cash flow of -$1.5M, so cash use came mainly from ongoing operations rather than reinvestment. Capital spending was only $38K, and the same near-match between operating and free cash flow appeared in FY2024, making low capital intensity a persistent feature.

Net losses narrowed from $7.9M in FY2021 to $2.3M in FY2025 as selling, general, administrative, and research expenses declined. With no valid revenue measure in the supplied annual rows, the improvement reflects a smaller cost base rather than demonstrated sales scale.

FY2025 liabilities were $194K against $6.6M of assets, indicating a balance sheet funded overwhelmingly by equity rather than debt. The reported liquidity comparison equaled 52.4 months of the latest annual operating outflow, while financing supplied $3.8M, showing that funding outside operations remains central.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

SOLARWINDOW TECH INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
3/6

SOLARWINDOW TECH INC passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality No Cash Backing
N/A

SOLARWINDOW TECH INC reported a net loss of $2.3M while operations used $1.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

SOLARWINDOW TECH INC reported an operating loss of $2.4M against $144K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

EBITDA
-$722K
YoY-30.9%
QoQ-16.6%

SOLARWINDOW TECH INC's EBITDA was -$722K in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.9% from the same quarter a year earlier. Against the prior quarter it is down 16.6%.

Net Income
-$696K
YoY-27.6%
QoQ-18.2%

SOLARWINDOW TECH INC reported -$696K in net income in Q3 2026. This represents a decrease of 27.6% from the same quarter a year earlier. Against the prior quarter it is down 18.2%.

EPS (Diluted)
-$0.01
YoY0.0%
QoQ0.0%

SOLARWINDOW TECH INC earned -$0.01 per diluted share (EPS) in Q3 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Revenue

Not reported for Q3 2026.

Cash & Balance Sheet

Cash & Debt
$4.8M
YoY+47.9%
QoQ-11.2%
5Y CAGR-9.5%
10Y CAGR+44.2%

SOLARWINDOW TECH INC held $4.8M in cash as of Q3 2026; long-term debt is not reported for that period.

Shares Outstanding
66M
YoY0.0%
QoQ0.0%
5Y CAGR+4.3%
10Y CAGR+8.7%

SOLARWINDOW TECH INC had 66M shares outstanding in Q3 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q3 2026.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Return on Equity
-15.2%
YoY+2.8pp
QoQ-4.0pp

SOLARWINDOW TECH INC's ROE was -15.2% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is up 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.0 percentage points.

Gross Margin

Not reported for Q3 2026.

Operating Margin

Not reported for Q3 2026.

Net Margin

Not reported for Q3 2026.

Capital Allocation

R&D Spending
$174K
YoY+3.8%
QoQ+2.0%

SOLARWINDOW TECH INC invested $174K in research and development in Q3 2026. This represents an increase of 3.8% from the same quarter a year earlier. Against the prior quarter it is up 2.0%.

Share Buybacks

Not reported for Q3 2026.

Capital Expenditures

Not reported for Q3 2026.

WNDW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNDW quarterly income statement
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
R&D Expenses$174K+3.8%$171K-1.6%$149K+8.5%N/A$168K+3.6%$173K+30.7%$137K+17.6%N/A
SG&A Expenses$553K+43.3%$453K-8.5%$464K+1.4%N/A$386K-44.4%$496K+34.2%$458K+1.4%N/A
Operating Income-$727K-31.3%-$624K+6.7%-$613K-3.0%N/A-$554K+35.3%-$669K-33.3%-$595K-4.7%N/A
EBITDA-$722K-30.9%-$619K+7.3%-$609K-2.7%N/A-$552K+35.3%-$668K-33.8%-$593K-5.1%N/A
Interest Expense$31K+131.6%$35K-11.4%$42K-3.7%N/A$13K-83.8%$39K-35.5%$44K-35.9%N/A
Net Income-$696K-27.6%-$589K+9.9%-$571K-3.4%N/A-$546K+62.7%-$654K+22.8%-$552K-10.1%N/A
EPS (Basic)-$0.010.0%-$0.010.0%-$0.010.0%-$0.010.0%-$0.01+66.7%-$0.01+50.0%-$0.010.0%-$0.01+50.0%
EPS (Diluted)-$0.010.0%-$0.010.0%-$0.010.0%-$0.010.0%-$0.01+66.7%-$0.01-$0.010.0%-$0.01+50.0%
Diluted Shares (Avg)66M+23.6%66M+23.6%66M+23.6%N/A53M0.0%53M53M0.0%N/A

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.

WNDW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNDW quarterly balance sheet
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Total Assets$4.9M+43.1%$5.6M+41.3%$6.1M+34.8%$6.6M+32.8%$3.4M-39.2%$3.9M-41.0%$4.5M-36.7%$5.0M-34.3%
Current Assets$4.8M+42.0%$5.5M+40.0%$6.1M+33.6%$6.6M+32.3%$3.4M-39.4%$3.9M-26.8%$4.5M-22.8%$5.0M-20.8%
Cash & Equivalents$4.8M+47.9%$5.4M+42.0%$5.9M+717.0%$6.6M+424.7%$3.2M+284.9%$3.8M+216.7%$722K+434.6%$1.2M+153.6%
Short-Term Investments$0$0$0-100.0%$0-100.0%$0-100.0%$0-100.0%$3.0M-43.4%$3.0M-45.5%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$306K-21.6%$278K-22.1%$245K-32.1%$194K-39.6%$391K+8.8%$358K+58.5%$360K+8.7%$322K+11.9%
Current Liabilities$306K-21.6%$278K-22.1%$245K-32.1%$194K-39.6%$391K+8.8%$358K+58.5%$360K+8.7%$322K+11.9%
Non-Current Liabilities$0$0$0$0$0$0$0$0
Total Equity$4.6M+51.4%$5.3M+47.6%$5.9M+40.5%$6.5M+37.8%$3.0M-42.5%$3.6M-44.5%$4.2M-38.9%$4.7M-36.1%
Retained Earnings-$82.9M-2.9%-$82.3M-2.8%-$81.7M-2.9%-$81.1M-2.9%-$80.6M-3.1%-$80.0M-4.3%-$79.4M-4.6%-$78.8M-4.6%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

WNDW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNDW quarterly cash flow statement
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Operating Cash Flow-$601K-8.9%-$506K-769.2%-$628K-19.0%-$499K+15.7%-$552K-54.1%$76K+132.3%-$528K+5.4%-$592K-18.2%
Depreciation & Amortization$5K+150.6%$5K+225.6%$4K+137.0%$3K+55.4%$2K-24.0%$2K-50.9%$2K-54.2%$2K-47.0%
Stock-Based CompensationN/AN/AN/AN/AN/A$52K+5.6%$52K+122.1%N/A
Capital ExpendituresN/AN/AN/AN/AN/AN/AN/A$0
Free Cash FlowN/AN/AN/AN/AN/AN/AN/A-$592K-18.2%
Investing Cash Flow-$1K+81.6%$0-$30K-$30K-103.0%-$8KN/AN/A$1.0M+100.0%

Not reported in any period shown, so not listed: Financing Cash Flow, Dividends Paid, Share Buybacks.

WNDW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNDW quarterly financial ratios
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Return on Equity-15.2%+2.8pp-11.1%+7.1pp-9.7%+3.5ppN/A-18.0%+9.7pp-18.3%-5.1pp-13.2%-5.9ppN/A
Return on Assets-14.2%+1.7pp-10.6%+6.0pp-9.3%+2.8ppN/A-15.9%+10.0pp-16.6%-3.9pp-12.2%-5.2ppN/A
Current Ratio15.80+7.1x19.77+8.8x24.76+12.2x34.00+18.5x8.72-6.9x10.99-12.8x12.58-5.1x15.52-6.4x
Debt-to-Equity0.07-0.1x0.050.0x0.040.0x0.030.0x0.13+0.1x0.10+0.1x0.090.0x0.070.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
SOLARWINDOW TECH INC WNDW FY2025 N/A -$2.3M N/A $115.1M —
Bimergen Energy Corporation BESS FY2025 N/A -$5.0M N/A $15.7M —
CLEAN VISION CORPORATION CLNV FY2024 $231K -$14.0M N/A $5.3M —

Frequently Asked Questions

Is SOLARWINDOW TECH INC profitable?

No, SOLARWINDOW TECH INC (WNDW) reported a net income of -$2.3M in fiscal year 2025.

What is SOLARWINDOW TECH INC's earnings per share (EPS)?

SOLARWINDOW TECH INC (WNDW) reported diluted earnings per share of -$0.04 for fiscal year 2025. This represents a 33.3% change compared to the previous fiscal year. 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 SOLARWINDOW TECH INC's EBITDA?

SOLARWINDOW TECH INC (WNDW) had EBITDA of -$2.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

SOLARWINDOW TECH INC (WNDW) has a return on equity of -35.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

SOLARWINDOW TECH INC (WNDW) recorded an outflow of $1.5M in free cash flow during fiscal year 2025. This represents a 11.6% 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.

SOLARWINDOW TECH INC (WNDW) recorded an outflow of $1.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

SOLARWINDOW TECH INC (WNDW) had $6.6M in total assets as of fiscal year 2025, including both current and long-term assets.

SOLARWINDOW TECH INC (WNDW) invested $38K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

SOLARWINDOW TECH INC (WNDW) invested $622K in research and development during fiscal year 2025.

SOLARWINDOW TECH INC (WNDW) had 66M shares outstanding as of fiscal year 2025.

SOLARWINDOW TECH INC (WNDW) had a current ratio of 34.00 as of fiscal year 2025, which is generally considered healthy.

SOLARWINDOW TECH INC (WNDW) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

SOLARWINDOW TECH INC (WNDW) had a return on assets of -34.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

SOLARWINDOW TECH INC (WNDW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $115.1M as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

SOLARWINDOW TECH INC (WNDW) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $115.1M as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2025, SOLARWINDOW TECH INC (WNDW) held $6.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $1.5M over that year. Dividing the one by the other, the reported balance equals about 52 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

SOLARWINDOW TECH INC (WNDW) has a Piotroski F-Score of 3 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.

SOLARWINDOW TECH INC (WNDW) reported a net loss of $2.3M while operations used $1.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

SOLARWINDOW TECH INC (WNDW) reported an operating loss of $2.4M against $144K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.

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