It recorded a net loss of $21.1 million. Diluted earnings per share were -$32.24. Across the 9 fiscal years shown, revenue shrank from $14.6 million in fiscal 2016 to $63,777 in fiscal 2024, about 49.3% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Apr 30, 2017
|
FY 2016
Apr 30, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
—
|
0
-87.2%
|
0
-83.3%
|
3
+11.4%
|
3
+67.3%
|
2
-65.0%
|
5
-24.6%
|
6
-63.7%
|
17
+15.0%
|
15
-40.4%
|
| Cost of revenue |
1
-85.6%
|
7
+29.5%
|
5
-15.0%
|
6
+26.6%
|
5
+169.7%
|
2
-57.6%
|
4
-46.9%
|
8
-39.0%
|
13
+11.4%
|
12
-43.7%
|
| Gross profit |
-1
+85.5%
|
-7
-42.1%
|
-5
-51.8%
|
-3
-46.0%
|
-2
-1156.1%
|
-0
-184.0%
|
0
+111.1%
|
-2
-146.5%
|
4
+28.8%
|
3
-22.6%
|
| Research and development |
1
-6.6%
|
1
-79.9%
|
7
+8.4%
|
7
-40.2%
|
11
+496.2%
|
2
+168.9%
|
1
+121.6%
|
0
|
—
|
—
|
| Selling, general and administrative |
8
-6.3%
|
10
-40.2%
|
16
+20.4%
|
13
-31.7%
|
20
+144.3%
|
8
+223.7%
|
2
+11.1%
|
2
-64.4%
|
6
-9.8%
|
7
+42.8%
|
| Operating expenses |
9
|
—
|
24
+16.3%
|
20
-34.8%
|
31
+212.3%
|
10
|
—
|
—
|
—
|
—
|
| Operating income |
-10
+46.0%
|
-19
+31.2%
|
-28
-21.0%
|
-23
+29.7%
|
-33
-227.8%
|
-10
-19.0%
|
-8
-280.8%
|
-2
+12.3%
|
-3
+36.9%
|
-4
-277.1%
|
| Other income (expense) |
-11
-160.3%
|
18
+393.5%
|
-6
-1857.9%
|
0
+590.6%
|
0
+107.5%
|
-1
|
—
|
—
|
—
|
—
|
| Pretax income |
-21
-1101.3%
|
-2
+94.9%
|
-34
-48.9%
|
-23
|
—
|
—
|
—
|
—
|
-1
+66.5%
|
-4
+47.6%
|
| Income tax |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0
+83.5%
|
0
-97.6%
|
| Net income |
-21
-1101.3%
|
-2
+94.9%
|
-34
-48.9%
|
-23
+30.7%
|
-33
-207.3%
|
-11
-24.2%
|
-9
+53.8%
|
-19
-1438.3%
|
-1
+56.2%
|
-3
+68.4%
|
| Net income to common |
-28
-126.9%
|
-12
+68.1%
|
-39
|
—
|
-33
-195.5%
|
-11
-29.2%
|
-9
+57.0%
|
-20
-793.0%
|
-2
+72.7%
|
-8
+27.0%
|
| Basic EPS |
-32.24
+0.0%
|
-32.25
-293.8%
|
-8.19
-65.5%
|
-4.95
|
—
|
—
|
-1.40
|
—
|
—
|
—
|
| Diluted EPS |
-32.24
+0.0%
|
-32.25
-293.8%
|
-8.19
|
—
|
—
|
—
|
-1.40
|
—
|
—
|
—
|
| Weighted average shares, basic |
1
+126.9%
|
0
-91.9%
|
5
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Weighted average shares, diluted |
1
+126.9%
|
0
-91.9%
|
5
|
—
|
—
|
—
|
4
|
—
|
—
|
—
|
| Other measures | ||||||||||
| Depreciation and amortization |
0
-98.5%
|
2
+56.4%
|
1
+43.4%
|
1
+44.5%
|
1
+18.0%
|
0
-38.1%
|
1
+103.7%
|
0
+207.2%
|
0
+78.3%
|
0
+7.5%
|
| EBITDA |
-10
+41.0%
|
-18
+34.7%
|
-27
-20.2%
|
-23
+30.9%
|
-33
-237.5%
|
-10
-24.3%
|
-8
-314.3%
|
-2
+22.8%
|
-2
+38.8%
|
-4
-293.2%
|
| Interest coverage |
—
|
—
|
—
|
-10,067.87x
|
—
|
-30.89x
|
—
|
—
|
-384.31x
|
-1,261.46x
|
| Margins | ||||||||||
| Gross margin |
—
|
-10,328.49%
|
-929.03%
|
-102.09%
|
-77.92%
|
-10.38%
|
4.33%
|
-29.39%
|
22.96%
|
20.51%
|
| Operating margin |
—
|
-30,382.44%
|
-5,643.51%
|
-778.36%
|
-1,234.49%
|
-630.04%
|
-185.48%
|
-36.70%
|
-15.20%
|
-27.70%
|
| Pretax margin |
—
|
-2,752.53%
|
-6,846.92%
|
-766.94%
|
—
|
—
|
—
|
—
|
-7.26%
|
-24.94%
|
| Profit margin |
—
|
-2,752.53%
|
-6,846.92%
|
-766.94%
|
-1,232.65%
|
-671.01%
|
-189.20%
|
-308.49%
|
-7.28%
|
-19.12%
|
| EBITDA margin |
—
|
-27,701.25%
|
-5,424.43%
|
-752.87%
|
-1,214.84%
|
-602.15%
|
-169.70%
|
-30.87%
|
-14.51%
|
-27.25%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Communications Services, NEC (SIC 4899)
- Listed as
- FABC (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Round Rock, TX
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1086745
- Former names
- StableX Technologies, Inc. (until Apr 28, 2026); AYRO, Inc. (until Aug 19, 2025); DropCar, Inc. (until May 29, 2020); WPCS INTERNATIONAL INC (until Jan 30, 2018); PHOENIX STAR VENTURES INC (until Jun 7, 2002)
Other Communications Services, NEC companies
- EchoStar CORP ECHO
- AST SpaceMobile, Inc. ASTS
- Globalstar, Inc. GSAT
- Viasat Inc VSAT
- Iridium Communications Inc. IRDM
- Calix, Inc CALX
- Telesat Corp TSAT
- Spire Global, Inc. SPIR
Source: SEC EDGAR filings. This is company-reported data, not investment advice.