SSII (SSII) financial statements
SSII reported revenue of $42M in fiscal 2025, up 209.3% a year over 3 years.
Net income was -$12M.
Free cash flow was -$22M.
The diluted share count rose 974% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SSII's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $1M | $6M | $21M | $42M |
| Cost of revenue | — | — | — | — | — | — | $1M | $5M | $12M | $23M |
| Gross profit | — | — | — | — | — | — | $60,577 | $725,528 | $8M | $20M |
| Research and development | $127,578 | $71,170 | $27,125 | $60,874 | $3,000 | $1,000 | $987,443 | $1M | $2M | $4M |
| Selling, general and admin | $334,915 | $939,637 | $404,188 | $752,018 | $287,737 | $458,801 | $2M | $10M | $10M | $15M |
| Operating income | — | — | — | — | — | — | -$3M | -$20M | -$19M | -$8M |
| Interest expense | $22,520 | $27,000 | — | $19,748 | $1,059 | — | $161,999 | $523,356 | $973,235 | $1M |
| Pre-tax income | -$484,982 | -$1M | -$960,322 | -$3M | -$1M | -$1M | -$3M | -$21M | -$19M | -$8M |
| Income tax | — | — | — | — | — | — | — | — | — | $4M |
| Net income | -$484,982 | -$1M | -$960,322 | -$3M | -$1M | -$1M | -$3M | -$21M | -$19M | -$12M |
| EPS (diluted) | -$0.03 | -$0.05 | -$0.05 | -$0.16 | -$0.05 | -$0.05 | -$0.03 | -$0.14 | -$0.11 | -$0.06 |
| Diluted shares | 19M | 20M | 21M | 22M | 23M | 28M | 128M | 152M | 181M | 199M |
| Gross margin | — | — | — | — | — | — | 4.2% | 12.3% | 40.9% | 46.0% |
| Operating margin | — | — | — | — | — | — | -206.0% | -345.1% | -91.9% | -19.3% |
| Net margin | — | — | — | — | — | — | -223.8% | -355.4% | -92.7% | -28.5% |
Balance sheet
Fiscal years, from SSII's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $248,219 | $452,572 | $35,716 | $28,474 | $160,709 | $405,774 | $217,177 | $2M | $466,500 | $3M |
| Receivables | — | — | — | — | — | — | $156,857 | $2M | $4M | $12M |
| Inventory | — | — | — | — | — | — | $904,103 | $7M | $10M | $17M |
| Total current assets | $248,684 | $463,029 | $41,546 | $34,764 | $162,999 | $408,065 | $4M | $21M | $27M | $49M |
| Property, plant and equipment | — | $3,385 | $35,340 | $84,638 | $38,207 | $20,542 | $417,014 | $706,405 | $5M | $9M |
| Total assets | $292,232 | $509,962 | $145,434 | $132,524 | $317,870 | $428,607 | $7M | $32M | $42M | $74M |
| Total current liabilities | $647,292 | $408,869 | $368,471 | $1M | $1M | $287,281 | $8M | $8M | $21M | $26M |
| Long-term debt | — | — | — | — | — | — | $469,017 | — | — | — |
| Total liabilities | $647,292 | $408,869 | $368,471 | $1M | $1M | -$157,004 | $10M | $12M | $29M | $36M |
| Shareholders' equity | -$355,060 | $101,093 | -$223,037 | -$1M | -$869,049 | $585,611 | -$3M | $20M | $13M | $38M |
| Net debt | -$248,219 | -$452,572 | -$35,716 | -$28,474 | -$160,709 | -$405,774 | $372,720 | -$2M | -$466,500 | -$3M |
Cash flow
Fiscal years, from SSII's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$211,944 | -$446,856 | -$443,288 | -$424,105 | -$90,540 | -$363,034 | -$6M | -$15M | -$10M | -$19M |
| Capital spending | — | — | — | $122 | — | — | $220,324 | $453,327 | $661,479 | $4M |
| Free cash flow | — | — | — | -$424,227 | — | — | -$6M | -$16M | -$10M | -$22M |
| Stock-based compensation | $128,088 | $265,901 | $76,005 | $1M | $434,180 | $767,237 | $865,468 | $10M | $14M | $8M |
| Share buybacks (net) | — | — | — | — | — | -$26,000 | — | — | — | — |
| Net borrowing | — | — | — | — | — | — | $3M | $3M | — | — |
| Free cash flow margin | — | — | — | — | — | — | -432.7% | -269.2% | -49.2% | -52.3% |
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Open SSII in InvestinglyQuestions
What was SSII's revenue in 2025?
$42M in fiscal 2025, from its 10-K filing.
How much free cash flow does SSII generate?
-$22M in fiscal 2025 (operating cash flow minus capital spending).
From SSII's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.