zSpace Inc Financials
This page shows zSpace Inc (ZSPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
For every $1 of reported earnings, zSpace Inc generates $0.71 in operating cash flow (-$18.0M OCF vs -$25.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
zSpace Inc earns $-15.0 in operating income for every $1 of interest expense (-$22.1M vs $1.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
zSpace Inc generated $27.9M in revenue in fiscal year 2025.
zSpace Inc's EBITDA was -$22.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
zSpace Inc reported -$25.4M in net income in fiscal year 2025.
Cash & Balance Sheet
zSpace Inc held $1.0M in cash against $10.1M in long-term debt as of fiscal year 2025.
zSpace Inc had 39M shares outstanding in fiscal year 2025.
Margins & Returns
zSpace Inc's gross margin was 47.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
zSpace Inc's operating margin was -79.5% in fiscal year 2025, reflecting core business profitability.
zSpace Inc's net profit margin was -91.1% in fiscal year 2025, showing the share of revenue converted to profit.
Capital Allocation
zSpace Inc invested $5.3M in research and development in fiscal year 2025.
ZSPC Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Revenue | $8.8M+17.9% | $7.5M+10.4% | $6.8M | N/A | $14.2M+89.5% | $7.5M-4.3% | $7.8M |
| Cost of Revenue | $4.3M+0.2% | $4.3M+20.6% | $3.6M | N/A | $7.9M+75.8% | $4.5M-13.0% | $5.1M |
| Gross Profit | $4.5M+41.7% | $3.2M-1.0% | $3.2M | N/A | $6.4M+109.8% | $3.0M+12.3% | $2.7M |
| R&D Expenses | $1.6M+23.1% | $1.3M+16.3% | $1.1M | N/A | $1.0M-2.9% | $1.1M-45.8% | $2.0M |
| SG&A Expenses | $3.4M-20.9% | $4.3M+22.6% | $3.5M | N/A | $2.0M-4.5% | $2.1M-67.8% | $6.6M |
| Operating Income | -$4.8M+24.3% | -$6.3M-17.6% | -$5.4M | N/A | $24K+100.7% | -$3.5M+69.0% | -$11.4M |
| Interest Expense | $306K+1.7% | $301K-40.0% | $502K | N/A | $596K-34.5% | $910K+24.8% | $729K |
| Income Tax | -$1K-109.1% | $11K+450.0% | $2K | N/A | N/A | $39K+880.0% | -$5K |
| Net Income | -$6.2M-1.1% | -$6.1M-4.6% | -$5.8M | N/A | -$204K+95.7% | -$4.7M+61.2% | -$12.2M |
| EPS (Diluted) | $-0.26+3.7% | $-0.27-3.8% | $-0.26 | N/A | $6.92+125.0% | $-27.73+60.8% | $-70.83 |
ZSPC Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $13.5M+10.9% | $12.1M+23.2% | $9.8M-27.2% | $13.5M | N/A | N/A | N/A |
| Current Assets | $13.3M+11.0% | $12.0M+22.8% | $9.8M-27.5% | $13.5M | N/A | N/A | N/A |
| Cash & Equivalents | $4.3M+207.3% | $1.4M+23.1% | $1.1M-76.8% | $4.9M+51.8% | $3.2M+7.8% | $3.0M+150.2% | $1.2M |
| Inventory | $2.3M-9.6% | $2.6M+30.8% | $2.0M-38.7% | $3.2M | N/A | N/A | N/A |
| Accounts Receivable | $3.6M-22.1% | $4.6M+21.0% | $3.8M+20.8% | $3.2M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $33.1M-3.7% | $34.4M+16.8% | $29.5M+4.4% | $28.2M | N/A | N/A | N/A |
| Current Liabilities | $19.6M-5.4% | $20.7M+3.8% | $19.9M-4.6% | $20.9M | N/A | N/A | N/A |
| Long-Term Debt | $11.1M-3.1% | $11.4M+50.3% | $7.6M+22.9% | $6.2M | N/A | N/A | N/A |
| Total Equity | -$19.7M+11.7% | -$22.3M-13.6% | -$19.6M-33.6% | -$14.7M+84.8% | -$96.6M+31.0% | -$140.0M-3.4% | -$135.4M |
| Retained Earnings | -$308.5M-2.0% | -$302.3M-2.1% | -$296.2M-2.0% | -$290.4M | N/A | N/A | N/A |
ZSPC Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.5M+64.5% | -$6.9M-49.2% | -$4.6M | N/A | $1.8M+770.8% | -$274K+94.9% | -$5.4M |
| Capital Expenditures | 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 |
| Investing Cash Flow | -$6K | N/A | N/A | N/A | -$1K | N/A | N/A |
| Financing Cash Flow | $5.4M-25.5% | $7.3M+646.1% | $978K | N/A | -$1.7M-184.6% | $2.0M-45.4% | $3.7M |
| Dividends Paid | 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 |
ZSPC Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 51.2%+8.6pp | 42.5%-4.9pp | 47.4% | N/A | 44.7%+4.3pp | 40.4%+6.0pp | 34.5% |
| Operating Margin | -54.5%+30.3pp | -84.9%-5.2pp | -79.7% | N/A | 0.2%+47.2pp | -47.0%+98.2pp | -145.3% |
| Net Margin | -70.2%+11.7pp | -81.8%+4.5pp | -86.3% | N/A | -1.4%+61.8pp | -63.2%+92.9pp | -156.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -45.8%+4.4pp | -50.3%+8.9pp | -59.2% | N/A | N/A | N/A | N/A |
| Current Ratio | 0.68+0.1 | 0.58+0.1 | 0.49-0.2 | 0.65 | N/A | N/A | N/A |
| Debt-to-Equity | -0.56-0.0 | -0.51-0.1 | -0.39+0.0 | -0.42 | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$22.5M), 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 (0.37), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is zSpace Inc's annual revenue?
zSpace Inc (ZSPC) reported $27.9M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is zSpace Inc profitable?
No, zSpace Inc (ZSPC) reported a net income of -$25.4M in fiscal year 2025, with a net profit margin of -91.1%.
What is zSpace Inc's EBITDA?
zSpace Inc (ZSPC) had EBITDA of -$22.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does zSpace Inc have?
As of fiscal year 2025, zSpace Inc (ZSPC) had $1.0M in cash and equivalents against $10.1M in long-term debt.
What is zSpace Inc's gross margin?
zSpace Inc (ZSPC) had a gross margin of 47.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is zSpace Inc's operating margin?
zSpace Inc (ZSPC) had an operating margin of -79.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is zSpace Inc's net profit margin?
zSpace Inc (ZSPC) had a net profit margin of -91.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is zSpace Inc's operating cash flow?
zSpace Inc (ZSPC) generated -$18.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are zSpace Inc's total assets?
zSpace Inc (ZSPC) had $7.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does zSpace Inc spend on research and development?
zSpace Inc (ZSPC) invested $5.3M in research and development during fiscal year 2025.
What is zSpace Inc's current ratio?
zSpace Inc (ZSPC) had a current ratio of 0.37 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is zSpace Inc's debt-to-equity ratio?
zSpace Inc (ZSPC) had a debt-to-equity ratio of -0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is zSpace Inc's return on assets (ROA)?
zSpace Inc (ZSPC) had a return on assets of -334.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is zSpace Inc's cash runway?
Based on fiscal year 2025 data, zSpace Inc (ZSPC) had $1.0M in cash against an annual operating cash burn of $18.0M. This gives an estimated cash runway of approximately 1 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 zSpace Inc's debt-to-equity ratio negative or unusual?
zSpace Inc (ZSPC) has negative shareholder equity of -$22.5M as of fiscal year 2025, 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.
Are zSpace Inc's earnings high quality?
zSpace Inc (ZSPC) has an earnings quality ratio of 0.71x, 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 zSpace Inc cover its interest payments?
zSpace Inc (ZSPC) has an interest coverage ratio of -15.0x, 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.