NPCE (NPCE) financial statements
NPCE reported revenue of $100M in fiscal 2025, up 19.4% a year over 5 years.
Net income was -$21M and the operating margin -16.3%, against -31.7% in 2020.
Free cash flow was -$11M, and the company returned $50M in net buybacks.
The diluted share count rose 15935% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NPCE's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $41M | $45M | $46M | $65M | $80M | $100M |
| Cost of revenue | $11M | $12M | $13M | $17M | $21M | $23M |
| Gross profit | $30M | $33M | $32M | $48M | $59M | $77M |
| Research and development | $16M | $18M | $22M | $21M | $24M | $28M |
| Selling, general and admin | $28M | $39M | $51M | $55M | $57M | $66M |
| Operating income | -$13M | -$24M | -$41M | -$27M | -$22M | -$16M |
| Interest expense | $11M | $7M | $8M | $9M | $9M | $7M |
| Income tax | — | — | — | — | — | $0 |
| Net income | -$24M | -$36M | -$47M | -$33M | -$27M | -$21M |
| EPS (diluted) | -$117.85 | -$2.17 | -$1.91 | -$1.27 | -$0.93 | -$0.66 |
| Diluted shares | 0M | 17M | 25M | 26M | 29M | 33M |
| Gross margin | 73.6% | 74.0% | 71.4% | 73.6% | 73.9% | 77.2% |
| Operating margin | -31.7% | -52.5% | -89.6% | -41.5% | -27.1% | -16.3% |
| Net margin | -59.0% | -79.9% | -103.4% | -50.4% | -34.0% | -21.5% |
Balance sheet
Fiscal years, from NPCE's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $38M | $116M | $77M | $66M | $53M | $61M |
| Receivables | $8M | $7M | $7M | $12M | $13M | $13M |
| Inventory | $7M | $8M | $10M | $11M | $13M | $15M |
| Total current assets | $55M | $133M | $98M | $93M | $81M | $94M |
| Property, plant and equipment | $515,000 | $603,000 | $1M | $1M | $1M | $1M |
| Total assets | $56M | $134M | $114M | $108M | $95M | $106M |
| Total current liabilities | $10M | $9M | $11M | $16M | $15M | $18M |
| Long-term debt | $51M | $50M | $53M | $57M | $60M | $59M |
| Total liabilities | $62M | $60M | $79M | $87M | $87M | $87M |
| Shareholders' equity | -$148M | $74M | $35M | $21M | $8M | $19M |
| Net debt | $26M | $31M | $46M | $39M | $46M | $37M |
Cash flow
Fiscal years, from NPCE's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$22M | -$25M | -$37M | -$20M | -$18M | -$11M |
| Capital spending | $62,000 | $384,000 | $603,000 | $173,000 | $306,000 | $332,000 |
| Free cash flow | -$22M | -$25M | -$37M | -$20M | -$18M | -$11M |
| Stock-based compensation | $1M | $4M | $8M | $10M | $10M | $11M |
| Share buybacks (net) | — | — | — | — | $0 | -$50M |
| Net borrowing | $12M | -$4M | $0 | — | — | — |
| Free cash flow margin | -52.7% | -55.2% | -82.3% | -30.4% | -22.8% | -11.3% |
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Open NPCE in InvestinglyQuestions
What was NPCE's revenue in 2025?
$100M in fiscal 2025, from its 10-K filing.
How much free cash flow does NPCE generate?
-$11M in fiscal 2025 (operating cash flow minus capital spending).
From NPCE's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.