OPAD (OPAD) financial statements
OPAD reported revenue of $568M in fiscal 2025, down 10.1% a year over 6 years.
Net income was -$46M and the operating margin -5.9%, against -3.1% in 2019.
Free cash flow was $66M.
The diluted share count rose 7935% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from OPAD's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.1B | $2.1B | $4.0B | $1.3B | $919M | $568M |
| Cost of revenue | $1.0B | $976M | $1.9B | $3.8B | $1.2B | $847M | $526M |
| Gross profit | $74M | $88M | $208M | $182M | $70M | $72M | $42M |
| Research and development | $7M | $7M | $11M | $12M | $8M | $5M | $3M |
| Selling, general and admin | $100M | $94M | $177M | $298M | $167M | $114M | $72M |
| Operating income | -$33M | -$14M | $20M | -$127M | -$104M | -$46M | -$33M |
| Interest expense | $18M | $10M | $16M | $46M | $19M | $19M | $13M |
| Pre-tax income | -$52M | -$23M | $7M | -$148M | -$117M | -$62M | -$46M |
| Income tax | $254,000 | $163,000 | $170,000 | $359,000 | $163,000 | $31,000 | $441,000 |
| Net income | -$52M | -$23M | $6M | -$149M | -$117M | -$62M | -$46M |
| EPS (diluted) | -$135.00 | -$60.00 | $6.80 | -$90.90 | -$4.44 | -$2.27 | -$1.50 |
| Diluted shares | 0M | 0M | 1M | 2M | 26M | 27M | 31M |
| Gross margin | 6.9% | 8.2% | 10.0% | 4.6% | 5.3% | 7.9% | 7.4% |
| Operating margin | -3.1% | -1.3% | 1.0% | -3.2% | -7.9% | -5.0% | -5.9% |
| Net margin | -4.8% | -2.2% | 0.3% | -3.8% | -8.9% | -6.8% | -8.2% |
Balance sheet
Fiscal years, from OPAD's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $1M | $170M | $97M | $76M | $43M | $27M |
| Receivables | — | $2M | $6M | $2M | $10M | $4M | $8M |
| Inventory | — | $171M | $1.1B | $665M | $276M | $214M | $94M |
| Total current assets | — | $227M | $1.3B | $814M | $372M | $294M | $132M |
| Property, plant and equipment | — | $8M | $5M | $5M | $5M | $9M | $15M |
| Total assets | — | $236M | $1.4B | $825M | $380M | $313M | $155M |
| Total current liabilities | — | $190M | $1.1B | $699M | $276M | $251M | $89M |
| Total liabilities | — | $195M | $1.1B | $703M | $278M | $265M | $117M |
| Shareholders' equity | -$122M | -$143M | $258M | $122M | $102M | $48M | $38M |
| Net debt | -$23M | -$1M | -$170M | -$97M | -$76M | -$43M | -$27M |
Cash flow
Fiscal years, from OPAD's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$109M | $155M | -$922M | $305M | $262M | $21M | $67M |
| Capital spending | $1M | $3M | $14M | $1M | $127,000 | $5M | $1M |
| Free cash flow | -$110M | $152M | -$936M | $304M | $262M | $15M | $66M |
| Stock-based compensation | $1M | $1M | $3M | $8M | $8M | $8M | $3M |
| Share buybacks (net) | -$11M | — | — | — | — | — | — |
| Net borrowing | — | — | -$63,400 | — | — | — | — |
| Free cash flow margin | -10.2% | 14.3% | -45.2% | 7.7% | 19.9% | 1.7% | 11.6% |
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Open OPAD in InvestinglyQuestions
What was OPAD's revenue in 2025?
$568M in fiscal 2025, from its 10-K filing.
How much free cash flow does OPAD generate?
$66M in fiscal 2025 (operating cash flow minus capital spending).
From OPAD's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.