MAMA (MAMA) financial statements
MAMA reported revenue of $172M in fiscal 2026, up 28.4% a year over 9 years.
Net income was $5M and the operating margin 4.1%, against 2.5% in 2017.
Free cash flow was $10M.
The diluted share count rose 53% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MAMA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18M | $28M | $28M | $34M | $41M | $47M | $93M | $103M | $123M | $172M |
| Cost of revenue | $11M | $18M | $19M | $24M | $28M | $35M | $74M | $73M | $93M | $129M |
| Gross profit | $7M | $9M | $10M | $10M | $13M | $12M | $19M | $30M | $31M | $43M |
| Research and development | $153,296 | $30,096 | $130,920 | $114,626 | $110,713 | $120,692 | $135,000 | $414,000 | $455,000 | $288,000 |
| Selling, general and admin | $42,000 | $8M | $8M | $8M | $9M | $12M | $16M | $21M | $25M | $36M |
| Operating income | $455,983 | $1M | $1M | $2M | $3M | $82,767 | $3M | $9M | $5M | $7M |
| Interest expense | — | — | — | — | — | — | $634,000 | $549,000 | $477,000 | $435,000 |
| Pre-tax income | — | — | $453,499 | $2M | $3M | $44,546 | $2M | $8M | $5M | $7M |
| Income tax | — | — | — | — | -$744,973 | $296,472 | $9,000 | $2M | $995,000 | $2M |
| Net income | -$301,080 | $319,740 | $453,499 | $2M | $4M | -$251,926 | $2M | $7M | $4M | $5M |
| EPS (diluted) | -$0.02 | $0.01 | $0.01 | $0.04 | $0.12 | -$0.01 | $0.06 | $0.17 | $0.09 | $0.13 |
| Diluted shares | 27M | 30M | 32M | 34M | 34M | 36M | 37M | 38M | 39M | 41M |
| Gross margin | 40.0% | 33.6% | 34.7% | 29.6% | 31.3% | 25.2% | 20.8% | 29.4% | 24.8% | 25.1% |
| Operating margin | 2.5% | 3.9% | 5.2% | 6.2% | 8.5% | 0.2% | 3.0% | 8.6% | 4.0% | 4.1% |
| Net margin | -1.7% | 1.2% | 1.6% | 4.5% | 10.0% | -0.5% | 2.5% | 6.4% | 3.0% | 3.1% |
Balance sheet
Fiscal years, from MAMA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $670,807 | $581,322 | $609,409 | $393,683 | $3M | $850,598 | $4M | $11M | $7M | $20M |
| Receivables | $2M | $3M | $3M | $4M | $4M | $8M | $7M | $8M | $8M | $13M |
| Inventory | $806,623 | $824,276 | $1M | $1M | $1M | $3M | $4M | $3M | $5M | $10M |
| Total current assets | $3M | $5M | $5M | $6M | $9M | $12M | $16M | $24M | $22M | $45M |
| Property, plant and equipment | $2M | $2M | $3M | $3M | $3M | $4M | $3M | $4M | $9M | $20M |
| Goodwill | — | — | — | — | — | $9M | $9M | $9M | $9M | $9M |
| Total assets | $5M | $7M | $8M | $10M | $14M | $30M | $35M | $45M | $47M | $86M |
| Total current liabilities | $5M | $8M | $4M | $4M | $4M | $9M | $12M | $17M | $17M | $21M |
| Total liabilities | $8M | $9M | $9M | $10M | $6M | $22M | $22M | $26M | $22M | $33M |
| Shareholders' equity | -$3M | -$2M | -$1M | $402,063 | $8M | $8M | $13M | $20M | $25M | $53M |
| Net debt | -$670,807 | -$581,322 | -$609,409 | -$393,683 | -$3M | -$850,598 | -$4M | -$11M | -$7M | -$20M |
Cash flow
Fiscal years, from MAMA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $357,234 | $1M | $1M | $2M | $4M | $909,841 | $6M | $12M | $5M | $11M |
| Capital spending | $552,869 | $1M | $1M | $268,106 | $419,373 | $10M | $593,000 | $786,000 | $5M | $2M |
| Free cash flow | -$195,635 | -$159,316 | $409,684 | $2M | $3M | -$9M | $5M | $11M | $82,000 | $10M |
| Stock-based compensation | $598,200 | $42,218 | $162,494 | $93,862 | $52,895 | $32,918 | $110,000 | $436,000 | $1M | $2M |
| Net borrowing | $676,575 | $105,283 | $2M | -$2M | — | — | — | — | — | — |
| Free cash flow margin | -1.1% | -0.6% | 1.4% | 4.6% | 8.0% | -20.2% | 5.3% | 10.5% | 0.1% | 5.7% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for MAMA.
Open MAMA in InvestinglyQuestions
What was MAMA's revenue in 2026?
$172M in fiscal 2026, from its 10-K filing.
How much free cash flow does MAMA generate?
$10M in fiscal 2026 (operating cash flow minus capital spending).
From MAMA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.