PSNL (PSNL) financial statements
PSNL reported revenue of $70M in fiscal 2025, up 28.5% a year over 8 years.
Net income was -$81M and the operating margin -126.4%, against -236.0% in 2017.
Free cash flow was -$79M.
The diluted share count rose 2844% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PSNL's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $38M | $65M | $79M | $85M | $65M | $73M | $85M | $70M |
| Cost of revenue | $12M | $26M | $43M | $59M | $54M | $52M | $55M | $58M | $54M |
| Gross profit | -$2M | $12M | $22M | $20M | $32M | $13M | $18M | $27M | $16M |
| Research and development | $10M | $14M | $22M | $29M | $49M | $65M | $65M | $49M | $50M |
| Selling, general and admin | $10M | $11M | $22M | $34M | $48M | $64M | $50M | $46M | $54M |
| Operating income | -$22M | -$14M | -$22M | -$42M | -$65M | -$116M | -$110M | -$68M | -$88M |
| Interest expense | $1M | $2M | $1M | $2,000 | $184,000 | $201,000 | $110,000 | $24,000 | $205,000 |
| Pre-tax income | -$24M | -$20M | -$25M | -$41M | -$65M | -$113M | -$108M | -$81M | -$81M |
| Income tax | $5,000 | $7,000 | $9,000 | $57,000 | $14,000 | $40,000 | $83,000 | $18,000 | $21,000 |
| Net income | -$24M | -$20M | -$25M | -$41M | -$65M | -$113M | -$108M | -$81M | -$81M |
| EPS (diluted) | -$7.78 | -$6.49 | -$1.39 | -$1.20 | -$1.49 | -$2.48 | -$2.25 | -$1.37 | -$0.91 |
| Diluted shares | 3M | 3M | 18M | 34M | 44M | 46M | 48M | 59M | 89M |
| Gross margin | -24.9% | 31.3% | 33.9% | 25.6% | 37.0% | 20.5% | 24.8% | 31.7% | 22.7% |
| Operating margin | -236.0% | -36.5% | -34.4% | -53.6% | -76.4% | -177.6% | -149.6% | -80.7% | -126.4% |
| Net margin | -251.2% | -52.6% | -38.5% | -52.5% | -76.3% | -174.2% | -147.4% | -96.1% | -116.7% |
Balance sheet
Fiscal years, from PSNL's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $20M | $128M | $203M | $287M | $168M | $114M | $185M | $240M |
| Receivables | — | $4M | $3M | $6M | $18M | $17M | $18M | $8M | $16M |
| Total current assets | — | $30M | $140M | $221M | $318M | $200M | $147M | $203M | $268M |
| Property, plant and equipment | — | $11M | $14M | $12M | $20M | $62M | $57M | $48M | $45M |
| Total assets | — | $42M | $157M | $245M | $397M | $293M | $225M | $270M | $334M |
| Total current liabilities | — | $58M | $50M | $41M | $31M | $33M | $47M | $31M | $40M |
| Total liabilities | — | $59M | $51M | $50M | $86M | $75M | $96M | $67M | $73M |
| Shareholders' equity | -$93M | -$106M | $107M | $195M | $310M | $218M | $129M | $203M | $261M |
| Net debt | -$23M | -$15M | -$55M | -$69M | -$106M | -$89M | -$57M | -$91M | -$124M |
Cash flow
Fiscal years, from PSNL's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $290,000 | $6M | -$18M | -$43M | -$71M | -$70M | -$56M | -$45M | -$75M |
| Capital spending | $5M | $8M | $8M | $3M | $11M | $50M | $11M | $2M | $5M |
| Free cash flow | -$5M | -$2M | -$26M | -$46M | -$82M | -$120M | -$67M | -$47M | -$79M |
| Stock-based compensation | $753,000 | $1M | $5M | $8M | $14M | $19M | $14M | $11M | $9M |
| Net borrowing | $16M | -$645,000 | -$5M | — | — | — | — | — | — |
| Free cash flow margin | -51.8% | -6.0% | -40.6% | -58.4% | -95.8% | -184.7% | -91.4% | -55.3% | -114.1% |
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Open PSNL in InvestinglyQuestions
What was PSNL's revenue in 2025?
$70M in fiscal 2025, from its 10-K filing.
How much free cash flow does PSNL generate?
-$79M in fiscal 2025 (operating cash flow minus capital spending).
From PSNL's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.