TUSK (TUSK) financial statements
TUSK reported revenue of $44M in fiscal 2025, down 16.8% a year over 9 years.
Net income was $5M and the operating margin -129.7%, against -15.0% in 2016.
Free cash flow was -$89M.
The diluted share count rose 53% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TUSK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $231M | $691M | $1.7B | $625M | $313M | $229M | $362M | $309M | $46M | $44M |
| Cost of revenue | $32M | $91M | $1.1B | $81M | $81M | $198M | $279M | $248M | — | — |
| Gross profit | $199M | $600M | $596M | $81M | $232M | — | — | — | — | — |
| Selling, general and admin | $17M | $48M | $71M | $50M | $66M | $78M | $40M | $37M | $114M | $20M |
| Operating income | -$35M | $63M | $394M | -$128M | -$149M | -$123M | -$16M | -$17M | -$120M | -$57M |
| Interest expense | $4M | $4M | $3M | $5M | $5M | $6M | $12M | $16M | $25M | — |
| Pre-tax income | -$39M | $62M | $389M | -$91M | -$120M | -$124M | $13M | $9M | -$194M | -$60M |
| Income tax | $54M | $3M | $153M | -$12M | -$12M | -$23M | $14M | $12M | -$11M | $4M |
| Net income | -$92M | $59M | $236M | -$79M | -$108M | -$101M | -$619,000 | -$3M | -$207M | $5M |
| EPS (diluted) | -$2.94 | $1.42 | $5.24 | -$1.76 | -$2.36 | -$2.18 | -$0.01 | -$0.07 | -$4.31 | $0.10 |
| Diluted shares | 32M | 42M | 45M | 45M | 46M | 46M | 47M | 48M | 48M | 48M |
| Gross margin | 86.2% | 86.8% | 35.3% | 13.0% | 74.1% | — | — | — | — | — |
| Operating margin | -15.0% | 9.1% | 23.3% | -20.5% | -47.5% | -53.7% | -4.5% | -5.4% | -263.9% | -129.7% |
| Net margin | -40.1% | 8.5% | 14.0% | -12.6% | -34.4% | -44.3% | -0.2% | -1.0% | -454.7% | 10.4% |
Balance sheet
Fiscal years, from TUSK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $29M | $6M | $68M | $6M | $17M | $12M | $17M | $17M | $61M | $122M |
| Receivables | $21M | $244M | $337M | $363M | $393M | $408M | $456M | $447M | $41M | $29M |
| Inventory | $6M | $18M | $21M | $17M | $12M | $8M | $9M | $13M | $7M | $4M |
| Total current assets | $89M | $314M | $450M | $407M | $465M | $441M | $497M | $497M | $189M | $177M |
| Property, plant and equipment | $242M | $351M | $437M | $353M | $251M | $177M | $138M | $114M | $67M | $106M |
| Goodwill | $89M | $100M | $101M | $68M | $13M | $12M | $12M | $9M | $9M | $0 |
| Total assets | $502M | $867M | $1.1B | $952M | $825M | $721M | $725M | $698M | $384M | $335M |
| Total current liabilities | $29M | $220M | $234M | $130M | $129M | $150M | $237M | $183M | $115M | $70M |
| Long-term debt | $0 | $100M | $0 | $80M | $81M | $85M | $0 | $43M | $0 | — |
| Total liabilities | $80M | $359M | $319M | $284M | $261M | $258M | $262M | $238M | $131M | $77M |
| Shareholders' equity | $423M | $508M | $754M | $669M | $563M | $463M | $463M | $460M | $253M | $258M |
| Net debt | -$29M | $94M | -$68M | $74M | $68M | $77M | $66M | $26M | -$61M | -$102M |
Cash flow
Fiscal years, from TUSK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $30M | $58M | $387M | -$95M | $7M | -$19M | $15M | $31M | $181M | -$19M |
| Capital spending | $0 | $2M | $5M | $344,000 | $76,000 | $6M | $13M | $19M | $1M | $71M |
| Free cash flow | $30M | $56M | $382M | -$96M | $7M | -$25M | $3M | $12M | $180M | -$89M |
| Stock-based compensation | $501,000 | $4M | $5M | $4M | $2M | $1M | $923,000 | $1M | $875,000 | $412,000 |
| Dividends paid | $0 | $0 | $11M | $11M | $0 | $0 | — | — | — | — |
| Net borrowing | $0 | -$9M | $0 | — | $3M | $4M | -$1M | -$285M | — | — |
| Free cash flow margin | 12.9% | 8.1% | 22.6% | -15.3% | 2.2% | -10.8% | 0.7% | 3.9% | 393.7% | -201.2% |
| Dividends per share | — | — | $0.25 | $0.25 | — | — | — | — | — | — |
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Open TUSK in InvestinglyQuestions
What was TUSK's revenue in 2025?
$44M in fiscal 2025, from its 10-K filing.
How much free cash flow does TUSK generate?
-$89M in fiscal 2025 (operating cash flow minus capital spending).
From TUSK's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.