DHI (DHX) financial statements
DHI reported revenue of $128M in fiscal 2025, down 6.2% a year over 9 years.
Net income was -$14M and the operating margin -8.9%, against 1.5% in 2016.
Free cash flow was $14M, and the company returned $10M in net buybacks.
The diluted share count fell 7% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from DHI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $227M | $208M | $162M | $149M | $111M | $120M | $150M | $152M | $142M | $128M |
| Cost of revenue | $32M | $30M | $18M | $14M | $14M | $15M | $18M | $20M | $20M | $20M |
| Gross profit | $195M | $178M | $143M | $136M | $97M | $105M | $132M | $132M | $122M | $108M |
| Research and development | $26M | $25M | $20M | $15M | $15M | $16M | $18M | $18M | $19M | $13M |
| Selling, general and admin | $121M | $121M | $97M | $69M | $66M | $72M | $93M | $89M | $77M | $67M |
| Operating income | $3M | $23M | $12M | $10M | -$32M | -$2M | $6M | $6M | $6M | -$11M |
| Interest expense | $3M | $3M | $2M | $703,000 | $831,000 | $667,000 | $2M | $3M | $3M | $2M |
| Pre-tax income | -$119,000 | $19M | $10M | $9M | -$35M | -$1M | $4M | $4M | $3M | -$15M |
| Income tax | $5M | $3M | $2M | $3M | -$3M | -$629,000 | -$579,000 | $131,000 | $3M | -$1M |
| Net income | -$5M | $16M | $7M | $13M | -$30M | -$30M | $4M | $3M | $253,000 | -$14M |
| EPS (diluted) | -$0.11 | $0.33 | $0.14 | $0.24 | -$0.62 | -$0.64 | $0.09 | $0.08 | $0.01 | -$0.30 |
| Diluted shares | 48M | 48M | 50M | 52M | 48M | 46M | 47M | 44M | 45M | 45M |
| Gross margin | 85.8% | 85.6% | 88.6% | 90.9% | 87.1% | 87.4% | 88.2% | 87.0% | 85.7% | 84.7% |
| Operating margin | 1.5% | 11.0% | 7.2% | 6.8% | -29.1% | -1.5% | 3.7% | 4.1% | 4.5% | -8.9% |
| Net margin | -2.4% | 7.7% | 4.4% | 8.4% | -27.0% | -24.8% | 2.8% | 2.3% | 0.2% | -10.6% |
Balance sheet
Fiscal years, from DHI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $12M | $6M | $5M | $5M | $2M | $3M | $4M | $4M | $3M |
| Receivables | $43M | $39M | $23M | $21M | $16M | $18M | $20M | $22M | $22M | $18M |
| Total current assets | $70M | $59M | $39M | $33M | $33M | $24M | $28M | $31M | $30M | $24M |
| Property, plant and equipment | $17M | $16M | $16M | $20M | $23M | $21M | $21M | $25M | $20M | $13M |
| Goodwill | $172M | $171M | $154M | $156M | $128M | $128M | $128M | $128M | $128M | $121M |
| Total assets | $310M | $296M | $258M | $278M | $241M | $222M | $227M | $225M | $221M | $188M |
| Total current liabilities | $108M | $107M | $81M | $74M | $65M | $63M | $74M | $69M | $63M | $55M |
| Long-term debt | $85M | $41M | $17M | $9M | $20M | $23M | $30M | $38M | $32M | $30M |
| Total liabilities | $206M | $163M | $113M | $117M | $113M | $105M | $120M | $118M | $107M | $94M |
| Shareholders' equity | $104M | $133M | $145M | $161M | $128M | $116M | $106M | $108M | $114M | $95M |
| Net debt | $62M | $29M | $11M | $4M | $15M | $21M | $27M | $34M | $28M | $27M |
Cash flow
Fiscal years, from DHI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $45M | $34M | $15M | $23M | $19M | $29M | $36M | $21M | $21M | $21M |
| Capital spending | $12M | $13M | $10M | $14M | $16M | $14M | $18M | $20M | $14M | $7M |
| Free cash flow | $33M | $21M | $5M | $9M | $3M | $14M | $18M | $1M | $7M | $14M |
| Stock-based compensation | $11M | $9M | $7M | $6M | $6M | $8M | $10M | $10M | $8M | $5M |
| Share buybacks (net) | -$30M | $0 | -$2M | -$3M | -$8M | -$15M | -$19M | -$7M | $0 | -$10M |
| Net borrowing | -$15M | -$44M | -$24M | -$8M | $10M | $3M | $7M | $8M | -$6M | -$2M |
| Free cash flow margin | 14.7% | 10.2% | 3.0% | 5.8% | 2.3% | 11.9% | 12.1% | 0.7% | 5.0% | 10.8% |
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Open DHX in InvestinglyQuestions
What was DHI's revenue in 2025?
$128M in fiscal 2025, from its 10-K filing.
How much free cash flow does DHI generate?
$14M in fiscal 2025 (operating cash flow minus capital spending).
From DHI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.