MDWD (MDWD) financial statements
MDWD reported revenue of $17M in fiscal 2025, up 30.4% a year over 9 years.
Net income was -$24M and the operating margin -149.0%, against -1293.6% in 2016.
Free cash flow was -$22M.
The diluted share count rose 264% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MDWD's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $2M | $3M | $32M | $22M | $24M | $26M | $19M | $20M | $17M |
| Cost of revenue | $2M | $2M | $2M | $12M | $14M | $15M | $13M | $15M | $18M | $14M |
| Gross profit | -$600,000 | $918,000 | $1M | $20M | $8M | $9M | $13M | $4M | $3M | $3M |
| Research and development | $7M | $5M | $4M | $5M | $8M | $10M | $10M | $7M | $9M | $14M |
| Selling, general and admin | $4M | $4M | $4M | $5M | $5M | $6M | $7M | $7M | $8M | $8M |
| Operating income | -$20M | -$14M | -$4M | $4M | -$9M | -$11M | -$8M | -$15M | -$19M | -$25M |
| Interest expense | $896,000 | $1M | $2M | $3M | $1M | $2M | $12M | $2M | $13M | $2M |
| Pre-tax income | — | — | — | $2M | -$9M | -$14M | -$20M | -$7M | -$30M | -$24M |
| Income tax | — | — | — | $0 | $0 | $27,000 | $78,000 | $185,000 | $61,000 | $169,000 |
| Net income | -$19M | -$22M | -$1M | $5M | -$9M | -$14M | -$20M | -$7M | -$30M | -$24M |
| EPS (diluted) | — | — | — | — | -$2.38 | -$3.48 | -$3.93 | -$0.75 | -$3.03 | -$2.10 |
| Diluted shares | 3M | 3M | 4M | 4M | 4M | 4M | 5M | 9M | 10M | 11M |
| Gross margin | -38.5% | 36.8% | 38.6% | 62.7% | 34.7% | 36.9% | 49.7% | 19.1% | 13.0% | 19.2% |
| Operating margin | -1293.6% | -548.4% | -116.4% | 14.1% | -40.6% | -47.2% | -31.5% | -81.8% | -95.9% | -149.0% |
| Net margin | -1212.1% | -887.4% | -31.1% | 15.6% | -42.3% | -57.0% | -74.0% | -35.9% | -149.5% | -140.8% |
Balance sheet
Fiscal years, from MDWD's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $29M | $36M | $7M | $7M | $17M | $11M | $34M | $12M | $9M | $5M |
| Receivables | $332,000 | $369,000 | $560,000 | $4M | $3M | $2M | $9M | $4M | $5M | $2M |
| Inventory | $844,000 | $2M | $2M | $2M | $1M | $1M | $2M | $3M | $3M | $4M |
| Total current assets | $34M | $42M | $33M | $36M | $26M | $15M | $46M | $50M | $52M | $60M |
| Property, plant and equipment | $1M | $2M | $2M | $2M | $3M | $2M | $2M | $9M | $14M | $19M |
| Total assets | $36M | $44M | $35M | $41M | $31M | $20M | $50M | $66M | $73M | $86M |
| Total current liabilities | $5M | $5M | $5M | $10M | $8M | $11M | $12M | $18M | $27M | $26M |
| Total liabilities | $28M | $35M | $26M | $25M | $24M | $24M | $39M | $35M | $42M | $43M |
| Shareholders' equity | $8M | $9M | $9M | $15M | $7M | -$5M | $11M | $32M | $31M | $44M |
| Net debt | -$29M | -$36M | -$7M | -$7M | -$17M | -$11M | -$34M | -$12M | -$9M | -$5M |
Cash flow
Fiscal years, from MDWD's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16M | -$16M | -$12M | $8M | -$7M | -$9M | -$12M | -$10M | -$14M | -$16M |
| Capital spending | $701,000 | $1M | $534,000 | $792,000 | $923,000 | $489,000 | $555,000 | $6M | $6M | $6M |
| Free cash flow | -$17M | -$18M | -$13M | $7M | -$8M | -$9M | -$12M | -$17M | -$20M | -$22M |
| Stock-based compensation | $3M | $1M | $645,000 | $1M | $1M | $2M | $2M | $2M | $3M | $3M |
| Free cash flow margin | -1100.5% | -702.3% | -373.1% | 23.6% | -35.9% | -39.6% | -47.0% | -90.6% | -98.4% | -127.5% |
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Open MDWD in InvestinglyQuestions
What was MDWD's revenue in 2025?
$17M in fiscal 2025, from its 10-K filing.
How much free cash flow does MDWD generate?
-$22M in fiscal 2025 (operating cash flow minus capital spending).
From MDWD's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.