MASS (MASS) financial statements
MASS reported revenue of $56M in fiscal 2025, up 15.9% a year over 5 years.
Net income was $19M and the operating margin -70.1%, against -21.6% in 2020.
Free cash flow was -$25M.
The diluted share count rose 554% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MASS's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $27M | $42M | $47M | $50M | $48M | $56M |
| Cost of revenue | $12M | $19M | $21M | $25M | $23M | $28M |
| Gross profit | $15M | $23M | $26M | $25M | $24M | $28M |
| Research and development | $8M | $13M | $18M | $22M | $15M | $16M |
| Selling, general and admin | $13M | $32M | $44M | $46M | $39M | $39M |
| Operating income | -$6M | -$22M | -$35M | -$43M | -$57M | -$39M |
| Interest expense | $976,000 | $486,000 | $129,000 | $201,000 | — | — |
| Pre-tax income | — | — | -$34M | -$37M | -$53M | -$33M |
| Income tax | — | — | $0 | -$211,000 | -$282,000 | -$66,000 |
| Net income | -$13M | -$22M | -$34M | -$36M | -$72M | $19M |
| EPS (diluted) | -$2.35 | -$0.79 | -$1.07 | -$1.13 | -$2.12 | $0.54 |
| Diluted shares | 5M | 28M | 31M | 32M | 34M | 36M |
| Gross margin | 55.5% | 55.0% | 55.5% | 50.4% | 51.3% | 50.6% |
| Operating margin | -21.6% | -52.3% | -75.5% | -85.1% | -120.2% | -70.1% |
| Net margin | -47.7% | -52.5% | -71.6% | -72.5% | -151.2% | 34.7% |
Balance sheet
Fiscal years, from MASS's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $159M | $224M | $188M | $146M | $70M | $113M |
| Receivables | $7M | $16M | $10M | $9M | $9M | $11M |
| Inventory | $5M | $8M | $13M | $15M | $11M | $13M |
| Total current assets | $171M | $253M | $216M | $174M | $103M | $145M |
| Property, plant and equipment | $850,000 | $2M | $3M | $3M | $2M | $4M |
| Goodwill | — | — | $10M | $10M | $0 | $0 |
| Total assets | $179M | $261M | $243M | $203M | $159M | $190M |
| Total current liabilities | $11M | $15M | $19M | $23M | $25M | $34M |
| Long-term debt | $14M | $15M | $15M | — | — | — |
| Total liabilities | $40M | $46M | $52M | $37M | $45M | $46M |
| Shareholders' equity | $139M | $215M | $191M | $165M | $115M | $144M |
| Net debt | -$144M | -$209M | -$173M | -$121M | -$44M | -$71M |
Cash flow
Fiscal years, from MASS's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $4M | -$29M | -$21M | -$25M | -$30M | -$24M |
| Capital spending | $9,000 | $737,000 | $2M | $2M | $602,000 | $955,000 |
| Free cash flow | $4M | -$30M | -$23M | -$27M | -$31M | -$25M |
| Stock-based compensation | $525,000 | $3M | $7M | $10M | $12M | $10M |
| Free cash flow margin | 15.3% | -70.7% | -49.0% | -54.0% | -64.6% | -43.9% |
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Open MASS in InvestinglyQuestions
What was MASS's revenue in 2025?
$56M in fiscal 2025, from its 10-K filing.
How much free cash flow does MASS generate?
-$25M in fiscal 2025 (operating cash flow minus capital spending).
From MASS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.