ZVRA (ZVRA) financial statements
ZVRA reported revenue of $106M in fiscal 2025, up 42.3% a year over 6 years.
Net income was $83M.
Free cash flow was -$2M.
The diluted share count rose 292% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ZVRA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $13M | $13M | $29M | $10M | $27M | $24M | $106M |
| Cost of revenue | — | — | $0 | $10M | — | $2M | $222,000 | $3M | $7M | $16M |
| Gross profit | — | — | $0 | — | — | $27M | $10M | $25M | $16M | $90M |
| Research and development | $20M | $21M | $42M | $19M | $9M | $10M | $20M | $40M | $42M | $13M |
| Selling, general and admin | $14M | $13M | $13M | $11M | $8M | $9M | $15M | $34M | $55M | $78M |
| Operating income | -$37M | -$33M | -$56M | -$20M | -$6M | $8M | -$43M | -$50M | -$87M | -$63M |
| Interest expense | $6M | $6M | $5M | $5M | $5M | $226,000 | $335,000 | $2M | $7M | $8M |
| Pre-tax income | -$17M | -$43M | -$57M | -$25M | -$13M | -$9M | -$27M | -$46M | -$90M | $87M |
| Income tax | -$15,000 | -$43,000 | -$126,000 | -$22,000 | -$34,000 | $34,000 | -$33,000 | $0 | $15M | $3M |
| Net income | -$17M | -$43M | -$56M | -$25M | -$13M | -$9M | -$27M | -$46M | -$106M | $83M |
| EPS (diluted) | -$1.13 | -$2.96 | -$3.15 | -$13.23 | -$3.21 | -$2.11 | -$0.78 | -$1.30 | -$2.28 | $1.35 |
| Diluted shares | 15M | 15M | 18M | 2M | 4M | 30M | 34M | 35M | 46M | 57M |
| Gross margin | — | — | — | — | — | 92.8% | 97.8% | 89.3% | 68.6% | 84.5% |
| Operating margin | — | — | — | -158.4% | -42.2% | 27.0% | -418.9% | -180.6% | -368.5% | -59.1% |
| Net margin | — | — | — | -191.0% | -96.0% | -29.9% | -263.5% | -167.7% | -446.9% | 78.2% |
Balance sheet
Fiscal years, from ZVRA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $68M | $42M | $22M | $3M | $4M | $112M | $82M | $68M | $69M | $191M |
| Receivables | $5M | $2M | $0 | $2M | $2M | $1M | $7M | $16M | $10M | — |
| Inventory | — | — | — | — | — | — | $671,000 | $0 | $2M | $2M |
| Total current assets | $74M | $46M | $24M | $7M | $8M | $115M | $93M | $87M | $86M | $223M |
| Property, plant and equipment | $2M | $2M | $2M | $1M | $1M | $884,000 | $794,000 | $736,000 | $356,000 | $489,000 |
| Goodwill | — | — | — | — | — | — | $0 | $5M | $5M | $5M |
| Total assets | $85M | $52M | $27M | $11M | $11M | $133M | $115M | $172M | $178M | $285M |
| Total current liabilities | $7M | $12M | $12M | $5M | $8M | $4M | $12M | $74M | $34M | $39M |
| Long-term debt | — | — | — | — | — | — | — | $5M | $60M | $62M |
| Total liabilities | $104M | $110M | $93M | $85M | $78M | $6M | $40M | $110M | $138M | $130M |
| Shareholders' equity | -$19M | -$58M | -$67M | -$74M | -$66M | $102M | $75M | $62M | $40M | $155M |
| Net debt | -$17M | -$11M | -$18M | -$3M | -$4M | -$112M | -$65M | -$38M | $26M | -$478,000 |
Cash flow
Fiscal years, from ZVRA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30M | -$33M | -$54M | -$24M | -$2M | $10M | -$19M | -$34M | -$70M | -$2M |
| Capital spending | $643,000 | $181,000 | $21,000 | $26,000 | $33,000 | $102,000 | $93,000 | $296,000 | $0 | $835,000 |
| Free cash flow | -$30M | -$33M | -$54M | -$24M | -$2M | $10M | -$19M | -$34M | -$70M | -$2M |
| Stock-based compensation | $7M | $5M | $6M | $4M | $2M | $2M | $4M | $6M | $15M | $13M |
| Share buybacks (net) | — | — | — | — | $0 | -$3M | -$5M | -$3M | $0 | — |
| Net borrowing | $83M | — | — | — | $781,000 | $0 | $13M | $25M | $16M | $0 |
| Free cash flow margin | — | — | — | -185.1% | -14.8% | 36.1% | -185.1% | -123.2% | -295.0% | -2.3% |
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Open ZVRA in InvestinglyQuestions
What was ZVRA's revenue in 2025?
$106M in fiscal 2025, from its 10-K filing.
How much free cash flow does ZVRA generate?
-$2M in fiscal 2025 (operating cash flow minus capital spending).
From ZVRA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.