PIII (PIII) financial statements
PIII reported revenue of $1.5B in fiscal 2025, up 58.6% a year over 5 years.
Net income was -$148M and the operating margin -18.5%, against -27.2% in 2019.
Free cash flow was -$91M.
The diluted share count rose 293% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PIII's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $145M | $491M | $1.0B | $1.3B | $1.5B | $1.5B |
| Selling, general and admin | $37M | $55M | $162M | $126M | $114M | $107M |
| Operating income | -$40M | -$29M | -$1.6B | -$168M | -$321M | -$270M |
| Pre-tax income | -$42M | -$31M | -$1.6B | -$184M | -$306M | -$321M |
| Income tax | $0 | $0 | $2M | $3M | $4M | $2M |
| Net income | -$42M | -$31M | -$270M | -$58M | -$136M | -$148M |
| EPS (diluted) | — | — | -$325.00 | -$31.50 | -$54.06 | -$45.26 |
| Diluted shares | — | — | 1M | 6M | 3M | 3M |
| Operating margin | -27.2% | -5.8% | -148.7% | -13.3% | -21.4% | -18.5% |
| Net margin | -28.8% | -6.4% | -25.7% | -4.6% | -9.1% | -10.1% |
Balance sheet
Fiscal years, from PIII's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $33M | $36M | $18M | $36M | $39M | $25M |
| Total current assets | — | $91M | $101M | $166M | $184M | $133M |
| Property, plant and equipment | — | $6M | $9M | $9M | $6M | $3M |
| Goodwill | $741,128 | $871,128 | $0 | — | — | — |
| Total assets | — | $106M | $877M | $861M | $783M | $657M |
| Total current liabilities | — | $91M | $242M | $299M | $496M | $545M |
| Long-term debt | — | $45M | $94M | $108M | $109M | $228M |
| Total liabilities | — | $146M | $354M | $427M | $634M | $797M |
| Shareholders' equity | — | $22,714 | $6M | $142M | $76M | -$155M |
| Net debt | -$33M | $9M | $77M | $72M | $145M | $248M |
Cash flow
Fiscal years, from PIII's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$28M | -$25M | -$126M | -$76M | -$110M | -$91M |
| Capital spending | $1M | $3M | $2M | $2M | $0 | -$79,000 |
| Free cash flow | -$30M | -$28M | -$128M | -$78M | -$110M | -$91M |
| Stock-based compensation | $474,042 | $447,475 | $19M | $6M | $6M | $6M |
| Net borrowing | $2M | $35M | $11M | $14M | $57M | $72M |
| Free cash flow margin | -20.4% | -5.6% | -12.2% | -6.1% | -7.3% | -6.2% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for PIII.
Open PIII in InvestinglyQuestions
What was PIII's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does PIII generate?
-$91M in fiscal 2025 (operating cash flow minus capital spending).
From PIII's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.