Every 10-Q that Netcapital Inc (NCPL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NCPL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NCPL filings page.
Netcapital Inc. reported weak results for the quarter and six months ended October 31, 2025, with a small revenue base and sizable losses. Revenue was $51,076 for the quarter and $241,134 for the six months, down from $170,528 and $312,755 in the prior-year periods, all from fees on online services. The company posted a net loss of $2,129,489 for the quarter and $5,771,541 for the six months, compared with losses of $2,220,501 and $4,747,671 a year earlier.
Cash and cash equivalents rose to $1,684,188 from $289,428 at April 30, 2025, driven mainly by equity financings, including $8,507,171 from common stock sales and a $2,840,000 stock-for-software Horizon license. However, operating cash outflow reached $6,792,561 and Netcapital ended the period with negative working capital of $1,500,153 and total debt of $2,420,124, mostly SBA loans.
Management states there is substantial doubt about the company’s ability to continue as a going concern within one year, given recurring losses and cash burn. Customer concentration remains high, with one customer providing 58% of six‑month revenue. After quarter-end, Netcapital agreed to acquire Rivetz cybersecurity assets for 950,000 shares and up to $100,000 of assumed liabilities and announced a CEO change and a 1,000,000‑share restricted stock award to its new General Counsel.
Netcapital, Inc. (NCPLW) reported results for the quarter ended July 31, 2025 showing continued operating losses and active financing transactions. The company had 4,720,066 shares outstanding as of July 31, 2025. Revenue items disclosed include listing fees and portal equity fees, with contract revenues of $190,058 and $142,227 referenced and deferred revenue of $315 at July 31, 2025. Gross profit for the period was shown as $182,649 versus $132,007 a year earlier. The quarter included an operating loss of $3,285,648, a net loss of $3,642,052, and net cash used in operating activities of $4,214,258. The balance sheet shows total debt instruments including SBA loans (one of $1,885,800) and several promissory notes; certain notes were in default or settled via equity issuance. The company recorded investments and equity securities received as compensation and recognized an unrealized gain of $44,945 in the quarter. Management disclosed going concern matters and regulatory exposure. Major financing activity included registered direct offerings and ATM sales generating gross proceeds of approximately $8 million across July 2025 transactions.