What is Solarwindow Tech's earnings per share (EPS)?

Solarwindow Tech (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.

Solarwindow Tech Financials

WNDW

FY2025 annual

Revenue Not reported for FY2025

Net Income -$2.3M +34.7% YoY

EPS (Diluted) -$0.04 +33.3% YoY

Free Cash Flow -$1.5M +11.6% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended May 31, 2026 Reported Jul 13, 2026 Currency USD FYE August

This page shows Solarwindow Tech (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 2026-08-29

Pre-revenue operations continue consuming cash, with reported funding inflows—not customer sales—supporting the balance sheet.

Between FY2021 and FY2025, operating cash outflow narrowed from $2.7M to $1.5M. Operating losses also narrowed from $7.9M to $2.4M, so the improvement appears tied to lower operating spending rather than cash conversion from sales.

The annual series provides no positive revenue base, while FY2025 research and development spending was $622K; that combination indicates resources are still being deployed before commercial revenue is visible. FY2025 selling, general, and administrative expense was $1.7M, making overhead the larger reported operating spend.

FY2025 liabilities were $194K against $6.5M of assets, indicating limited balance-sheet leverage. Financing cash flow of $3.8M coincided with operating cash outflow of $1.5M, while shares outstanding rose from 53.2M to 65.8M between FY2024 and FY2025; funding inflows, rather than internally generated cash, were the more visible support mechanism.

Financial Health Signals

Financial health score not available

Solarwindow Tech 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 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 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 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

Export CSV

Earnings & Revenue

EBITDA

-$2.3M

YoY+9.5%

Solarwindow Tech's EBITDA was -$2.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.5% from the prior year.

Net Income

-$2.3M

YoY+34.7%

Solarwindow Tech reported -$2.3M in net income in fiscal year 2025. This represents an increase of 34.7% from the prior year.

EPS (Diluted)

-$0.04

YoY+33.3%

Solarwindow Tech earned -$0.04 per diluted share (EPS) in fiscal year 2025. This represents an increase of 33.3% from the prior year.

Revenue

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$1.5M

YoY+11.6%

Solarwindow Tech recorded an outflow of $1.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 11.6% from the prior year.

Cash & Debt

$6.6M

YoY+424.7%

5Y CAGR-14.3%

10Y CAGR+39.9%

Solarwindow Tech held $6.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

66M

YoY+23.6%

5Y CAGR+4.4%

10Y CAGR+9.5%

Solarwindow Tech had 66M shares outstanding in fiscal year 2025. This represents an increase of 23.6% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-35.0%

YoY+38.8pp

Solarwindow Tech's ROE was -35.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 38.8 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$622K

YoY+4.7%

5Y CAGR-22.9%

10Y CAGR-0.9%

Solarwindow Tech invested $622K in research and development in fiscal year 2025. This represents an increase of 4.7% from the prior year.

Capital Expenditures

$38K

YoY+1833.7%

5Y CAGR+49.6%

10Y CAGR+9.2%

Solarwindow Tech invested $38K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1833.7% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

WNDW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WNDW quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	N/A	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$622K+4.7%	$594K-22.3%	$765K-15.2%	$902K-45.6%	$1.7M-27.3%	$2.3M+15.2%	$2.0M+2.5%	$1.9M+103.2%	$950K+15.5%	$823K+20.5%	$683K+10.1%	$621K+73.9%	$357K-46.9%	$672K+49.0%	$451K
SG&A Expenses	N/A	$1.7M-13.8%	$2.0M+30.1%	$1.5M-45.7%	$2.8M-54.7%	$6.3M+18.0%	$5.3M+20.1%	$4.4M+22.3%	$3.6M+30.3%	$2.8M+19.9%	$2.3M	N/A	$2.4M	N/A	$1.6M-48.1%	$3.2M
Operating Income	N/A	-$2.4M+9.6%	-$2.6M-12.8%	-$2.3M+38.3%	-$3.7M+52.8%	-$7.9M-4.4%	-$7.6M-18.6%	-$6.4M	N/A	-$3.7M-18.7%	-$3.1M	N/A	-$3.0M	N/A	-$2.3M+36.0%	-$3.6M
Interest Expense	N/A	$144K-40.4%	$242K-1.7%	$246K+446.6%	$45K+22.7%	$37K-85.3%	$250K+95.3%	$128K-73.1%	$478K+53.0%	$312K+1.0%	$309K+23.4%	$250K+29.6%	$193K+536.9%	$30K+15.6%	$26K+1785.8%	$1K
Income Tax	N/A	N/A	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.3M-8.9%	$1.5M+75.6%	$827K	N/A
Net Income	N/A	-$2.3M+34.7%	-$3.5M-44.2%	-$2.4M+51.6%	-$4.9M+37.4%	-$7.9M-7.5%	-$7.4M-6.8%	-$6.9M	N/A	N/A	-$4.6M	N/A	-$3.9M	N/A	-$2.4M+32.8%	-$3.6M
EPS (Diluted)	-$0.04	-$0.04+33.3%	-$0.06-50.0%	-$0.04+55.6%	-$0.09+40.0%	-$0.15	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
R&D Expenses	$174K+2.0%	$171K+14.6%	$149K	N/A	$168K-3.3%	$173K+26.4%	$137K	N/A
SG&A Expenses	$553K+22.0%	$453K-2.4%	$464K	N/A	$386K-22.2%	$496K+8.2%	$458K	N/A
Operating Income	-$727K-16.5%	-$624K-1.8%	-$613K	N/A	-$554K+17.3%	-$669K-12.4%	-$595K	N/A
Interest Expense	$31K-11.4%	$35K-18.6%	$42K	N/A	$13K-66.1%	$39K-11.5%	$44K	N/A
Net Income	-$696K-18.2%	-$589K-3.3%	-$571K	N/A	-$546K+16.6%	-$654K-18.5%	-$552K	N/A
EPS (Diluted)	-$0.010.0%	-$0.010.0%	-$0.010.0%	-$0.010.0%	-$0.010.0%	-$0.010.0%	-$0.010.0%	-$0.01

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.

WNDW quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$6.6M+32.8%	$5.0M-34.3%	$7.6M-21.4%	$9.7M-29.4%	$13.7M-15.1%	$16.2M-13.3%	$18.7M+1909.0%	$929K+11.7%	$832K-71.3%	$2.9M+649.6%	$386K-60.3%	$974K+82.5%	$534K-52.7%	$1.1M-55.7%	$2.5M
Current Assets	$6.6M+32.3%	$5.0M-20.8%	$6.3M-24.6%	$8.4M-32.1%	$12.3M-16.7%	$14.8M-14.2%	$17.2M+1837.0%	$890K+14.2%	$779K-72.9%	$2.9M+707.9%	$356K-62.5%	$949K+82.6%	$520K-53.1%	$1.1M-56.5%	$2.5M
Cash & Equivalents	$6.6M+424.7%	$1.2M+153.6%	$493K-93.9%	$8.1M+13.3%	$7.1M-49.6%	$14.2M-14.8%	$16.6M+2282.8%	$697K+3.9%	$671K-73.3%	$2.5M+998.3%	$228K-70.9%	$785K+126.0%	$347K-66.8%	$1.0M-54.9%	$2.3M
Total Liabilities	$194K-39.6%	$322K+11.9%	$287K+142.6%	$118K-30.4%	$170K-99.5%	$32.1M+14430.4%	$221K-95.1%	$4.6M+2.0%	$4.5M+58.6%	$2.8M-13.5%	$3.3M+217.9%	$1.0M+736.7%	$122K+35.7%	$90K-67.9%	$281K
Current Liabilities	$194K-39.6%	$322K+11.9%	$287K+142.6%	$118K-30.4%	$170K-11.1%	$191K+7.2%	$179K+90.8%	$94K-59.3%	$230K-71.0%	$795K-75.6%	$3.3M+217.9%	$1.0M+736.7%	$122K+35.7%	$90K-67.9%	$281K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.6M0.0%	$3.6M	N/A	$593K	N/A	N/A	N/A	N/A
Total Equity	$6.5M+37.8%	$4.7M-36.1%	$7.3M-23.4%	$9.6M-29.4%	$13.6M+184.9%	-$16.0M-186.6%	$18.4M+609.0%	-$3.6M+0.2%	-$3.6M-4534.7%	$82K+102.9%	-$2.9M-5680.7%	-$50K-112.1%	$411K-60.4%	$1.0M-54.2%	$2.3M
Retained Earnings	-$81.1M-2.9%	-$78.8M-4.6%	-$75.4M-3.3%	-$73.0M-7.3%	-$68.0M-13.2%	-$60.1M-13.9%	-$52.8M-15.0%	-$45.9M-17.6%	-$39.0M-15.9%	-$33.7M-16.0%	-$29.0M	N/A	$17.1M+33.4%	$12.8M	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$4.9M-12.0%	$5.6M-9.1%	$6.1M-7.8%	$6.6M+94.0%	$3.4M-13.1%	$3.9M-13.3%	$4.5M-9.2%	$5.0M
Current Assets	$4.8M-12.1%	$5.5M-9.1%	$6.1M-8.3%	$6.6M+93.7%	$3.4M-13.3%	$3.9M-13.3%	$4.5M-9.2%	$5.0M
Cash & Equivalents	$4.8M-11.2%	$5.4M-8.6%	$5.9M-10.0%	$6.6M+102.5%	$3.2M-14.7%	$3.8M+426.1%	$722K-42.2%	$1.2M
Total Liabilities	$306K+10.0%	$278K+13.8%	$245K+25.9%	$194K-50.3%	$391K+9.3%	$358K-0.8%	$360K+12.1%	$322K
Current Liabilities	$306K+10.0%	$278K+13.8%	$245K+25.9%	$194K-50.3%	$391K+9.3%	$358K-0.8%	$360K+12.1%	$322K
Total Equity	$4.6M-13.2%	$5.3M-10.0%	$5.9M-8.8%	$6.5M+112.6%	$3.0M-15.3%	$3.6M-14.3%	$4.2M-10.6%	$4.7M
Retained Earnings	-$82.9M-0.8%	-$82.3M-0.7%	-$81.7M-0.7%	-$81.1M-0.6%	-$80.6M-0.7%	-$80.0M-0.8%	-$79.4M-0.7%	-$78.8M

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.

WNDW quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	-$2.2M	-$1.5M+13.7%	-$1.7M+16.5%	-$2.1M+42.7%	-$3.6M-36.9%	-$2.7M-8.7%	-$2.4M+3.8%	-$2.5M+12.9%	-$2.9M-5.6%	-$2.8M-5.0%	-$2.6M	N/A	-$2.5M-33.6%	-$1.9M+15.2%	-$2.2M-3.8%	-$2.2M
Capital Expenditures	N/A	$38K+1833.7%	$2K	$0-100.0%	$357K+367.6%	$76K+1417.4%	$5K-99.6%	$1.3M+52114.8%	$3K-94.3%	$46K+1880.3%	$2K-85.2%	$16K-7.8%	$17K	N/A	$24K+1659.6%	$1K
Free Cash Flow	N/A	-$1.5M+11.6%	-$1.7M+16.4%	-$2.1M+47.9%	-$4.0M-46.1%	-$2.7M-11.5%	-$2.5M+37.0%	-$3.9M-33.2%	-$2.9M-4.0%	-$2.8M-6.7%	-$2.6M	N/A	-$2.6M	N/A	-$2.3M-4.9%	-$2.2M
Investing Cash Flow	-$61K	$3.0M+18.6%	$2.5M+145.4%	-$5.5M-218.5%	$4.6M+191.5%	-$5.1M-100758.2%	-$5K+99.6%	-$1.3M-52114.8%	-$3K+94.3%	-$46K-1880.3%	-$2K+85.2%	-$16K+7.8%	-$17K	N/A	-$24K-1659.6%	-$1K
Financing Cash Flow	N/A	$3.8M	N/A	N/A	N/A	$725K	N/A	$19.8M+571.3%	$2.9M+202.9%	$974K-80.2%	$4.9M	N/A	$3.0M+148.7%	$1.2M+20.6%	$1.0M-74.9%	$4.0M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	-$601K-18.7%	-$506K+19.4%	-$628K-25.8%	-$499K+9.6%	-$552K-829.4%	$76K+114.3%	-$528K+10.8%	-$592K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$592K
Investing Cash Flow	-$1K	$0+100.0%	-$30K-0.9%	-$30K-265.8%	-$8K	N/A	N/A	$1.0M

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.

WNDW quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Return on Equity	-35.0%+38.8pp	-73.8%-41.1pp	-32.7%+19.0pp	-51.7%+6.6pp	-58.3%	N/A	-37.3%	N/A	N/A	-5663.0%	N/A	N/A	N/A	-234.5%-74.8pp	-159.8%
Return on Assets	-34.0%+35.1pp	-69.1%-37.6pp	-31.4%+19.6pp	-51.1%+6.5pp	-57.6%-12.1pp	-45.5%-8.6pp	-36.9%	N/A	N/A	-160.2%	N/A	-399.6%	N/A	-215.8%-73.6pp	-142.1%
Current Ratio	34.00+18.5x	15.52-6.4x	21.95-48.7x	70.64-1.8x	72.40-4.8x	77.22-19.2x	96.45+87.0x	9.50+6.1x	3.38-0.2x	3.62+3.5x	0.11-0.8x	0.93-3.3x	4.25-8.0x	12.29+3.2x	9.06
Debt-to-Equity	0.030.0x	0.070.0x	0.040.0x	0.010.0x	0.01	N/A	0.01	N/A	N/A	34.36	N/A	N/A	0.30+0.2x	0.090.0x	0.12

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Return on Equity	-15.2%-4.0pp	-11.1%-1.4pp	-9.7%	N/A	-18.0%+0.3pp	-18.3%-5.1pp	-13.2%	N/A
Return on Assets	-14.2%-3.6pp	-10.6%-1.3pp	-9.3%	N/A	-15.9%+0.7pp	-16.6%-4.5pp	-12.2%	N/A
Current Ratio	15.80-4.0x	19.77-5.0x	24.76-9.2x	34.00+25.3x	8.72-2.3x	10.99-1.6x	12.58-2.9x	15.52
Debt-to-Equity	0.070.0x	0.050.0x	0.040.0x	0.03-0.1x	0.130.0x	0.100.0x	0.090.0x	0.07

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

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Where Solarwindow Tech Ranks

Frequently Asked Questions

Is Solarwindow Tech profitable?

No, Solarwindow Tech (WNDW) reported a net income of -$2.3M in fiscal year 2025.

What is Solarwindow Tech's EBITDA?

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

What is Solarwindow Tech's return on equity (ROE)?

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

What is Solarwindow Tech's free cash flow?

Solarwindow Tech (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.

What is Solarwindow Tech's operating cash flow?

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

What are Solarwindow Tech's total assets?

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

What are Solarwindow Tech's capital expenditures?

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

How much does Solarwindow Tech spend on research and development?

Solarwindow Tech (WNDW) invested $622K in research and development during fiscal year 2025.

How many shares does Solarwindow Tech have outstanding?

Solarwindow Tech (WNDW) had 66M shares outstanding as of fiscal year 2025.

What is Solarwindow Tech's current ratio?

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

What is Solarwindow Tech's debt-to-equity ratio?

Solarwindow Tech (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.

What is Solarwindow Tech's return on assets (ROA)?

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

How does Solarwindow Tech's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Solarwindow Tech (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.

What is Solarwindow Tech's Piotroski F-Score?

Solarwindow Tech (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.

Are Solarwindow Tech's earnings high quality?

Solarwindow Tech (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.

Can Solarwindow Tech cover its interest payments?

Solarwindow Tech (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.