In fiscal 2025, which ended Apr 30, 2025, Netcapital Inc. reported revenue of $869,460, down 82.4% from the year before. It recorded a net loss of $28.3 million. The operating loss came to $8.3 million, an operating margin of -957.1%. Diluted earnings per share were -$20.39. Over the twelve months ended Jan 31, 2026, revenue was $739,504 and the net loss was $28.1 million. Across the 10 fiscal years shown, revenue grew from $44,878 in fiscal 2016 to $869,460 in fiscal 2025, about 39.0% 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 2026
Jan 31, 2026
|
FY 2025
Apr 30, 2025
|
FY 2024
Apr 30, 2024
|
FY 2023
Apr 30, 2023
|
FY 2022
Apr 30, 2022
|
FY 2021
Apr 30, 2021
|
FY 2020
Apr 30, 2020
|
FY 2019
Apr 30, 2019
|
FY 2018
Apr 30, 2018
|
FY 2017
Apr 30, 2017
|
FY 2016
Apr 30, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
1
-9.0%
|
1
-82.4%
|
5
-41.7%
|
8
+55.0%
|
5
+16.1%
|
5
+169.2%
|
2
+73.0%
|
1
+811.8%
|
0
+416.9%
|
0
-52.1%
|
0
-52.1%
|
| Cost of revenue |
0
-70.3%
|
0
-62.7%
|
0
+27.1%
|
0
-22.8%
|
0
-85.5%
|
1
+6736.2%
|
0
-55.9%
|
0
|
—
|
—
|
—
|
| Gross profit |
1
-5.1%
|
1
-82.9%
|
5
-42.4%
|
8
+56.6%
|
5
+35.6%
|
4
+127.4%
|
2
+76.3%
|
1
+1032.4%
|
0
|
—
|
—
|
| Selling, general and administrative |
5
+11223.4%
|
5
+53.3%
|
3
+96.9%
|
2
+8.7%
|
2
+244.6%
|
0
+539.1%
|
0
+34.2%
|
0
-18.8%
|
0
+164.9%
|
0
-90.1%
|
0
-61.1%
|
| Operating income |
-10
-19.7%
|
-8
-141.7%
|
-3
-251.5%
|
2
+320.3%
|
-1
-156.8%
|
-0
-135.0%
|
1
+83.7%
|
1
+425.1%
|
-0
+65.0%
|
-1
|
—
|
| Interest expense |
0
|
0
-10.2%
|
0
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Other non-operating income (expense) |
—
|
0
+0.0%
|
0
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
-0
-57.0%
|
| Other income (expense) |
-19
-669.1%
|
-20
-414.5%
|
-4
|
—
|
5
+104.4%
|
2
+443.9%
|
-1
-1810.6%
|
-0
-111.7%
|
0
+215.8%
|
-0
|
—
|
| Pretax income |
-28
|
-28
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Income tax |
—
|
—
|
-2
-373.9%
|
1
+57.0%
|
1
-11.3%
|
1
+575.2%
|
-0
-3344.6%
|
-0
|
—
|
—
|
—
|
| Net income |
-28
-171.5%
|
-28
-467.6%
|
-5
-268.7%
|
3
-15.7%
|
4
+138.4%
|
1
+143.0%
|
1
+3.8%
|
1
+344.5%
|
0
+115.8%
|
-1
+0.9%
|
-1
-72.1%
|
| Basic EPS |
-7.23
+36.2%
|
-20.39
+29.3%
|
-28.83
-4676.2%
|
0.63
-51.9%
|
1.31
+11.0%
|
1.18
-21.3%
|
1.50
|
0.00
|
0.00
|
0.00
|
0.00
|
| Diluted EPS |
-7.23
+36.2%
|
-20.39
+29.3%
|
-28.83
-4676.2%
|
0.63
-50.4%
|
1.27
+42.7%
|
0.89
-40.7%
|
1.50
|
0.00
|
0.00
|
0.00
|
0.00
|
| Weighted average shares, basic |
4
+325.4%
|
1
+702.4%
|
0
-96.3%
|
5
+75.4%
|
3
+113.3%
|
1
+210.7%
|
0
-99.9%
|
742
+16.3%
|
638
+24.5%
|
512
+1.2%
|
506
+1.2%
|
| Weighted average shares, diluted |
4
+325.4%
|
1
+702.4%
|
0
-96.3%
|
5
+70.2%
|
3
+66.8%
|
2
|
—
|
—
|
—
|
—
|
—
|
| Other measures | |||||||||||
| Depreciation and amortization |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0
|
—
|
0
+71.4%
|
| EBITDA |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
0
|
—
|
—
|
| Interest coverage |
-114.22x
|
-201.54x
|
-74.85x
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Margins | |||||||||||
| Gross margin |
98.07%
|
95.36%
|
97.82%
|
99.00%
|
97.99%
|
83.92%
|
99.37%
|
97.51%
|
78.52%
|
—
|
—
|
| Operating margin |
-1,284.97%
|
-957.07%
|
-69.52%
|
26.75%
|
-18.81%
|
-8.50%
|
65.42%
|
61.60%
|
-172.76%
|
-2,552.74%
|
—
|
| Pretax margin |
-3,804.10%
|
-3,255.05%
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Profit margin |
-3,804.10%
|
-3,255.05%
|
-100.70%
|
34.79%
|
63.92%
|
31.13%
|
34.49%
|
57.51%
|
117.95%
|
-3,850.29%
|
-1,862.55%
|
| EBITDA margin |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
170.01%
|
—
|
—
|
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. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Finance Services (SIC 6199)
- Listed as
- NCPL (Nasdaq), NCPLW (Nasdaq)
- Fiscal year ends
- April 30
- Incorporated in
- UT
- Headquarters
- Boston, MA
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1414767
- Former names
- ValueSetters Inc. (until Nov 5, 2020); ValueSetters Corp (until Sep 24, 2014)
Other Finance Services companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.