ZSTK Nasdaq Finance Services Financials FY2021βFY2025
ZeroStack Corp. had $35.7M of revenue in fiscal 2025, down 0.5% on the year before.
Last close Β· Oct 23, 2026
$3.28
2.4%Hi! I read ZeroStack Corp.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β0.5%
No. Sales fell 0.5% last year.
Does it make a profit?
β335.6%
No. It lost money last year.
Does profit turn into cash?
β24.7%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 9
Weak. It passes 1 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· ZeroStack Corp. had $35.7M of revenue in fiscal 2025, down 0.5% on the year before. Its operating margin was β433.5%, down 408.6Β pts: of every 100 in sales, about β433 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· ZeroStack Corp. lost $120M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$8.8M in fiscal 2025, β24.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $3.5M and sold $0.0M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$3.5M
1 insider
Sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
Can it carry its debts, and how well does it use its money?
KIRA Β· ZeroStack Corp. owes $47.9M more than it holds in cash.
Cash, debt and the ratios that show how comfortably ZeroStack Corp. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $37.6M | $8.9M | $4.4M | $5.2M | $5.6M |
| Debt incl. finance leases | $0.0M | $1.1M | $1.9M | $2.1M | $53.5M |
| Debt / equity | 0.0x | 0.0x | 0.3x | 0.5x | 0.8x |
| Current ratio | 7.8x | 1.8x | 1.3x | 1.0x | 1.0x |
| Quick ratio | 7.3x | 1.3x | 0.8x | 0.9x | 0.8x |
| Total assets | $85.5M | $81.0M | $23.6M | $26.2M | $130M |
| Total liabilities | $8.5M | $24.6M | $17.2M | $21.7M | $59.7M |
| Shareholders' equity | $77.2M | $56.8M | $6.4M | $4.5M | $70.6M |
| Net debt (β = net cash) | β$37.6M | β$7.8M | β$2.4M | β$3.1M | $47.9M |
KIRA Β· Its return on capital was β103.1%: every 100 invested in the business earned about β103 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· ZeroStack Corp. passes 1 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 2 / 9 | 4 / 9 | 1 / 9 |
| Accruals ratio | β0.5% | β43.8% | β93.0% | β43.6% | β142.0% |
| Altman Z'' | 9.74 | β4.04 | β32.19 | β21.49 | β13.69 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $9.0M | $33.4M | $76.1M | $35.9M | $35.7M |
| Net interest income | $0.0M | $0.1M | β$0.1M | β$0.2M | β$0.2M |
| Gross profit | $2.4M | $13.3M | $17.7M | $2.2M | $1.6M |
| Research and development | $0.1M | $0.4M | $0.1M | $0.4M | β |
| Operating income | β$19.0M | β$47.2M | β$50.4M | β$8.9M | β$155M |
| Pretax income | β$21.5M | β$48.1M | β$48.3M | β$9.3M | β$115M |
| Income tax | β$0.1M | β$1.4M | β$1.6M | $0.0M | $0.1M |
| Net income | β$21.4M | β$52.4M | β$57.0M | β$15.9M | β$120M |
| Diluted EPS | β | β$13.68 | β$7.75 | β$50.02 | β$43.49 |
| Diluted shares | β | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | |||||
| Cash from operations | β$20.9M | β$15.9M | β$8.4M | β$5.0M | β$8.7M |
| Capital expenditure | $4.0M | $1.3M | $0.2M | $0.1M | $0.1M |
| Free cash flow | β$24.9M | β$17.2M | β$8.6M | β$5.2M | β$8.8M |
| Depreciation and amortization | $0.5M | $2.6M | $2.5M | $0.8M | $0.6M |
| Stock-based compensation | $1.3M | $3.4M | $1.6M | $2.8M | $1.2M |
| Acquisitions | $8.1M | $14.5M | $0.0M | β$0.1M | β$0.5M |
| Share buybacks | $0.0M | $0.3M | $0.0M | β | β |
| Dividends and buybacks | $0.0M | $0.3M | $0.0M | β | β |
| Balance sheet | |||||
| Cash and short-term investments | $37.6M | $8.9M | $4.4M | $5.2M | $5.6M |
| Total debt | $0.0M | $1.1M | $1.9M | $2.1M | $53.5M |
| Current assets | $47.9M | $31.2M | $21.4M | $19.8M | $8.7M |
| Current liabilities | $6.1M | $17.4M | $16.3M | $18.8M | $8.6M |
| Inventory | $3.0M | $8.7M | $8.5M | $2.2M | $1.9M |
| Property and equipment, net | $3.8M | $1.2M | $0.8M | $0.1M | $0.1M |
| Goodwill | $19.7M | $23.4M | $0.0M | $2.0M | β |
| Intangible assets | $9.7M | $17.7M | $0.9M | $2.7M | β |
| Total assets | $85.5M | $81.0M | $23.6M | $26.2M | $130M |
| Total liabilities | $8.5M | $24.6M | $17.2M | $21.7M | $59.7M |
| Shareholders' equity | $77.2M | $56.8M | $6.4M | $4.5M | $70.6M |
| Margins | |||||
| Gross margin | 27.0% | 39.7% | 23.3% | 6.1% | 4.6% |
| Operating margin | β211.6% | β141.4% | β66.2% | β24.9% | β433.5% |
| EBITDA margin | β206.0% | β133.5% | β62.9% | β22.7% | β431.9% |
| Net margin | β237.9% | β156.9% | β75.0% | β44.4% | β335.6% |
| FCF margin | β277.5% | β51.6% | β11.3% | β14.4% | β24.7% |
| Net interest share of revenue | 0.4% | 0.2% | β0.1% | β0.6% | β0.7% |
| Returns | |||||
| Return on capital | β37.9% | β76.2% | β998.2% | β515.8% | β103.1% |
| Return on capital employed | β23.9% | β74.3% | β685.5% | β120.7% | β127.2% |
| Return on equity | β27.7% | β78.2% | β180.4% | β291.5% | β319.0% |
| Return on assets | β25.0% | β63.0% | β109.0% | β63.8% | β153.0% |
| Return on tangible equity | β44.7% | β333.6% | β1,045.0% | β | β169.7% |
| Growth | |||||
| Revenue growth | β | 271.9% | 127.8% | β52.9% | β0.5% |
| Share count change | β | β | 94.7% | β95.9% | 833.3% |
| Financial health | |||||
| Debt / equity | 0.0x | 0.0x | 0.3x | 0.5x | 0.8x |
| Current ratio | 7.8x | 1.8x | 1.3x | 1.0x | 1.0x |
| Quick ratio | 7.3x | 1.3x | 0.8x | 0.9x | 0.8x |
| Capital allocation | |||||
| Capex / revenue | 44.4% | 3.9% | 0.2% | 0.4% | 0.4% |
| Stock comp / revenue | 14.9% | 10.2% | 2.1% | 7.7% | 3.4% |
| Quality scores | |||||
| Piotroski F-score | β | 3.0 | 2.0 | 4.0 | 1.0 |
| Altman Z'' | 9.7 | β4.0 | β32.2 | β21.5 | β13.7 |
| Accruals ratio | β0.5% | β43.8% | β93.0% | β43.6% | β142.0% |
Source: SEC EDGAR XBRL filings (CIK 0001790169). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
