NBP (NBP) financial statements
Net income was -$46M.
Free cash flow was -$21M.
The diluted share count rose 2884% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NBP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $4M | $236M | $14M | -$2M | $632,000 | — | — |
| Cost of revenue | — | — | $7M | $4M | — | — | — |
| Gross profit | — | — | $7M | -$6M | — | — | — |
| Research and development | $121M | $151M | $190M | $23M | $21M | $22M | $63M |
| Selling, general and admin | $94M | $62M | $141M | $29M | $28M | $30M | $31M |
| Operating income | — | — | — | -$53M | -$72M | -$51M | -$94M |
| Interest expense | $430,000 | $147,000 | $0 | $1,000 | $102,000 | — | — |
| Pre-tax income | -$209M | $74M | -$366M | -$141M | -$82M | -$50M | -$88M |
| Income tax | — | $2M | -$495,000 | $103,000 | $0 | $0 | $0 |
| Net income | -$209M | $72M | -$366M | -$371M | -$208M | -$22M | -$46M |
| EPS (diluted) | -$28.90 | $0.46 | -$2.09 | -$1.96 | -$1.09 | -$0.12 | -$0.21 |
| Diluted shares | 7M | 157M | 175M | 190M | 191M | 187M | 220M |
| Gross margin | — | — | 47.3% | 354.6% | — | — | — |
| Operating margin | — | — | — | 3422.2% | -11395.1% | — | — |
| Net margin | -4840.1% | 30.5% | -2648.7% | 23923.5% | -32868.5% | — | — |
Balance sheet
Fiscal years, from NBP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $168M | $734M | $671M | $377M | $312M | $173M | $211M |
| Receivables | — | $20M | $5M | $0 | — | — | — |
| Inventory | — | — | $4M | $0 | — | — | — |
| Total current assets | $196M | $819M | $750M | $526M | $330M | $177M | $218M |
| Property, plant and equipment | $4M | $4M | $7M | $9M | $2M | $201,000 | $140,000 |
| Goodwill | $23M | $25M | $26M | $24M | — | — | — |
| Total assets | $250M | $971M | $879M | $591M | $369M | $213M | $261M |
| Total current liabilities | $85M | $88M | $98M | $110M | $58M | $8M | $27M |
| Total liabilities | $96M | $108M | $163M | $169M | $126M | $12M | $30M |
| Shareholders' equity | -$292M | $862M | $715M | $418M | $243M | $201M | $231M |
| Net debt | -$163M | -$729M | -$553M | -$343M | -$292M | -$68M | -$211M |
Cash flow
Fiscal years, from NBP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$125M | $66M | -$153M | -$160M | -$184M | -$53M | -$21M |
| Capital spending | $2M | $1M | $5M | $2M | $164,000 | $48,000 | $7,000 |
| Free cash flow | -$126M | $65M | -$157M | -$162M | -$184M | -$53M | -$21M |
| Stock-based compensation | $53M | $76M | $96M | $13M | $10M | -$2M | $6M |
| Free cash flow margin | -2934.2% | 27.6% | -1139.5% | 10443.8% | -29107.9% | — | — |
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How much free cash flow does NBP generate?
-$21M in fiscal 2025 (operating cash flow minus capital spending).
From NBP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.