SND (SND) financial statements
SND reported revenue of $330M in fiscal 2025, up 21.0% a year over 9 years.
Net income was $1M and the operating margin -1.4%, against 34.4% in 2016.
Free cash flow was $33M, and the company returned $6M in dividends and $628,000 in net buybacks.
The diluted share count rose 61% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SND's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59M | $137M | $212M | $233M | $122M | $127M | $256M | $296M | $311M | $330M |
| Cost of revenue | $27M | $100M | $143M | $152M | $104M | $140M | $226M | $254M | $267M | $292M |
| Gross profit | $33M | $37M | $69M | $81M | $18M | -$16M | $30M | $42M | $45M | $38M |
| Selling, general and admin | $5M | $9M | $13M | $11M | $16M | $14M | $31M | $39M | $38M | $41M |
| Operating income | $20M | $19M | $28M | $43M | -$13M | -$63M | -$3M | -$2M | $3M | -$4M |
| Pre-tax income | $20M | $19M | $26M | $39M | $25M | -$60M | -$4M | -$2M | $252,000 | -$6M |
| Income tax | $9M | -$3M | $6M | $8M | -$13M | -$9M | -$3M | -$7M | -$3M | -$7M |
| Net income | $10M | $22M | $20M | $32M | $38M | -$51M | -$703,000 | $5M | $3M | $1M |
| EPS (diluted) | $0.42 | $0.53 | $0.50 | $0.78 | $0.94 | -$1.21 | -$0.02 | $0.12 | $0.08 | $0.03 |
| Diluted shares | 25M | 40M | 40M | 40M | 40M | 42M | 42M | 39M | 39M | 40M |
| Gross margin | 55.1% | 26.9% | 32.6% | 34.8% | 14.8% | -12.6% | 11.6% | 14.0% | 14.4% | 11.5% |
| Operating margin | 34.4% | 13.6% | 13.0% | 18.7% | -10.6% | -50.1% | -1.2% | -0.5% | 1.0% | -1.4% |
| Net margin | 17.5% | 15.7% | 9.5% | 13.6% | 31.0% | -40.0% | -0.3% | 1.6% | 1.0% | 0.4% |
Balance sheet
Fiscal years, from SND's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $47M | $35M | $1M | $3M | $12M | $26M | $6M | $6M | $2M | $23M |
| Receivables | $5M | $23M | $19M | $59M | $70M | $17M | $36M | $23M | $41M | $31M |
| Inventory | $10M | $10M | $19M | $21M | $19M | $15M | $20M | $27M | $25M | $31M |
| Total current assets | $65M | $73M | $50M | $92M | $112M | $74M | $68M | $62M | $76M | $88M |
| Property, plant and equipment | $104M | $172M | $248M | $230M | $275M | $262M | $259M | $255M | $237M | $223M |
| Goodwill | — | $0 | $0 | — | — | — | — | — | — | — |
| Total assets | $173M | $247M | $320M | $363M | $428M | $374M | $360M | $346M | $342M | $340M |
| Total current liabilities | $14M | $35M | $25M | $40M | $37M | $49M | $52M | $54M | $43M | $50M |
| Long-term debt | — | $0 | $48M | $28M | $22M | $15M | $10M | $3M | $9M | $9M |
| Total liabilities | $31M | $57M | $111M | $118M | $139M | $133M | $117M | $104M | $98M | $100M |
| Shareholders' equity | $142M | $190M | $211M | $246M | $289M | $241M | $243M | $242M | $244M | $240M |
| Net debt | -$47M | -$34M | $47M | $32M | $18M | -$3M | $10M | $13M | $11M | -$10M |
Cash flow
Fiscal years, from SND's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27M | $16M | $51M | $45M | $26M | $32M | $5M | $31M | $18M | $44M |
| Capital spending | $3M | $51M | $96M | $26M | $9M | $11M | $13M | $23M | $7M | $12M |
| Free cash flow | $24M | -$36M | -$45M | $19M | $17M | $21M | -$7M | $8M | $11M | $33M |
| Stock-based compensation | $1M | $2M | $3M | $3M | $4M | $3M | $3M | $4M | $3M | $4M |
| Dividends paid | — | — | — | — | — | — | $0 | $0 | $4M | $6M |
| Share buybacks (net) | -$420,000 | -$127,000 | -$2M | -$140,000 | -$1M | -$401,000 | -$540,000 | $0 | -$422,000 | -$628,000 |
| Free cash flow margin | 40.8% | -25.9% | -21.3% | 8.2% | 13.8% | 16.8% | -2.9% | 2.7% | 3.5% | 9.9% |
| Dividends per share | — | — | — | — | — | — | — | — | $0.10 | $0.15 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SND.
Open SND in InvestinglyQuestions
What was SND's revenue in 2025?
$330M in fiscal 2025, from its 10-K filing.
How much free cash flow does SND generate?
$33M in fiscal 2025 (operating cash flow minus capital spending).
From SND's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.