1.Sales and profit
See section β- Stablecoin Development Corp lost $631M in fiscal 2025.
SDEV NYSE Finance Services Financials FY2016βFY2025
Last close Β· Oct 23, 2026
$1.00
9.1%Hi! I read Stablecoin Development Corpβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Does it make a profit?
β$631M
No. It lost money last year.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Stablecoin Development Corp did it, and the next one. Share prices often move a lot on those days.
Next results
November 6, 2026
Friday Β· in 11 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Oct 5, 2026 | Period ended Sep 30, 2026 | Before the market opens | 8-K β |
| Jul 30, 2026 | Q2 '26 | After the market closes | 10-Q β |
| Apr 6, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Mar 19, 2026 | Q4 '25 | After the market closes | 10-K β |
| Nov 7, 2025 | Q3 '25 | After the market closes | 10-Q β |
| Aug 14, 2025 | Q2 '25 | After the market closes | 10-Q β |
| May 15, 2025 | Q1 '25 | During market hours | 10-Q β |
| Apr 2, 2025 | Q4 '24 | After the market closes | 10-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
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· Stablecoin Development Corp lost $631M 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?
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
KIRA Β· Stablecoin Development Corp returned $4.8M to shareholders in fiscal 2025.
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· No open-market insider trades in the last 12 months.
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
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Stablecoin Development 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 | $7.5M | $5.4M | $2.9M | $0.4M | $8.0M |
| Current ratio | 3.8x | 2.7x | 1.7x | 0.7x | 7.6x |
| Quick ratio | 2.9x | 1.9x | 1.6x | 0.7x | 7.6x |
| Total assets | $24.0M | $16.4M | $9.0M | $3.4M | $9.0M |
| Total liabilities | $13.8M | $5.8M | $5.7M | $3.6M | $641M |
| Shareholders' equity | $10.2M | $10.6M | $3.3M | β$0.1M | β$632M |
| Net debt (β = net cash) | β | β | β | β | β |
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)
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 4 / 8 | 1 / 8 | 4 / 8 | 2 / 8 | 2 / 7 | 3 / 7 | 2 / 7 | β / 5 |
| Accruals ratio | β9.7% | β8.9% | β10.1% | β16.8% | β47.8% | 17.2% | β19.6% | β43.3% | 4.4% | β9,991.2% |
| Altman Z'' | β21.54 | β37.82 | β41.18 | β39.70 | β22.60 | β18.34 | β32.62 | β63.45 | β190.99 | β297.37 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $11.9M | $18.2M | $12.5M | $6.6M | $9.9M | $10.2M | $14.4M | $10.5M | $9.8M | β |
| Gross profit | $9.4M | $15.4M | $11.0M | $4.9M | $6.0M | $6.5M | $7.8M | $6.1M | $6.5M | β |
| Research and development | $1.4M | $0.4M | $0.3M | $0.2M | $0.3M | $0.0M | $0.2M | $0.0M | $0.0M | β |
| Operating income | β$11.0M | β$7.3M | β$7.9M | β$9.4M | β$6.4M | β$8.9M | β$14.4M | β$4.1M | β$7.4M | β$8.4M |
| Pretax income | β$13.1M | β$7.4M | β$6.5M | β$9.7M | β$11.0M | β$5.8M | β$10.6M | β$9.6M | β$8.8M | β$642M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$13.2M | β$7.4M | β$6.5M | β$9.7M | β$11.0M | β$5.8M | β$10.6M | β$9.6M | β$7.2M | β$631M |
| Net income to common | β | β$7.4M | β$6.5M | β$10.5M | β$11.0M | β$6.6M | β$16.3M | β$17.0M | β$8.6M | β$631M |
| Diluted EPS | β$1.40 | β$0.48 | β$0.46 | β$0.48 | β$0.31 | β$150.00 | β | β | β | β |
| Diluted shares | 0.01B | 0.02B | 0.02B | 0.02B | 0.04B | 0.04B | β | β | β | β |
| Cash flow | ||||||||||
| Cash from operations | β$11.7M | β$6.3M | β$5.6M | β$7.9M | β$4.7M | β$9.2M | β$6.7M | β$4.1M | β$7.5M | β$8.4M |
| Capital expenditure | $0.2M | $0.2M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.0M | $0.0M | β |
| Free cash flow | β$11.8M | β$6.5M | β$5.6M | β$7.9M | β$4.7M | β$9.2M | β$6.8M | β$4.2M | β$7.5M | β |
| Depreciation and amortization | $0.1M | $0.1M | $0.3M | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.0M | β |
| Stock-based compensation | $1.8M | $2.5M | $0.7M | $0.5M | $0.5M | $0.9M | $0.2M | $0.3M | $0.1M | $0.0M |
| Acquisitions | β | β | β | $0.0M | $0.0M | $12.0M | $0.0M | β | β | β |
| Dividends paid | β | β | β | $0.0M | β | β | β | β | $0.0M | $4.8M |
| Dividends and buybacks | β | β | β | $0.0M | β | β | β | β | $0.0M | $4.8M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $9.5M | $3.2M | $3.2M | $6.9M | $12.0M | $7.5M | $5.4M | $2.9M | $0.4M | $8.0M |
| Current assets | $14.5M | $9.0M | $8.6M | $9.4M | $14.2M | $13.2M | $11.3M | $7.2M | $1.9M | $8.7M |
| Current liabilities | $4.3M | $5.0M | $3.8M | $5.7M | $2.8M | $3.4M | $4.3M | $4.3M | $2.8M | $1.1M |
| Inventory | $0.9M | $0.5M | $0.3M | $0.5M | $0.6M | $3.2M | $3.4M | $0.5M | $0.0M | β |
| Property and equipment, net | $0.4M | $0.5M | $0.2M | $0.1M | $0.1M | $0.2M | $0.1M | $0.1M | $0.0M | β |
| Goodwill | β | β | β | β | $0.0M | $4.5M | $0.3M | $0.0M | β | β |
| Intangible assets | β | β | β | β | $0.0M | $5.2M | $2.3M | $0.0M | β | β |
| Total assets | $15.4M | $10.1M | $9.4M | $11.2M | $15.2M | $24.0M | $16.4M | $9.0M | $3.4M | $9.0M |
| Total liabilities | $8.3M | $7.5M | $4.4M | $10.2M | $2.9M | $13.8M | $5.8M | $5.7M | $3.6M | $641M |
| Preferred stock | $0.0M | $0.0M | $0.0M | β | $0.0M | $0.7M | β | β | β | β |
| Shareholders' equity | $7.1M | $2.6M | $5.0M | $1.0M | $12.3M | $10.2M | $10.6M | $3.3M | β$0.1M | β$632M |
| Margins | ||||||||||
| Gross margin | 79.3% | 84.7% | 88.0% | 73.7% | 60.0% | 63.8% | 54.0% | 58.2% | 66.3% | β |
| Operating margin | β92.3% | β40.1% | β62.9% | β142.4% | β64.7% | β86.8% | β100.1% | β39.2% | β75.4% | β |
| EBITDA margin | β91.4% | β39.6% | β60.8% | β141.5% | β64.2% | β86.3% | β99.3% | β38.7% | β75.0% | β |
| Net margin | β110.5% | β40.6% | β52.3% | β146.4% | β111.1% | β57.1% | β73.6% | β92.2% | β73.8% | β |
| FCF margin | β99.4% | β35.7% | β44.9% | β120.4% | β47.8% | β90.6% | β47.0% | β39.7% | β76.7% | β |
| Returns | ||||||||||
| Return on capital employed | β99.3% | β143.4% | β142.7% | β169.9% | β51.8% | β43.2% | β118.7% | β86.2% | β1,272.2% | β106.9% |
| Return on equity | β185.2% | β152.7% | β173.4% | β325.9% | β166.1% | β51.8% | β102.4% | β139.0% | β453.6% | β |
| Return on assets | β85.5% | β58.2% | β67.3% | β93.9% | β83.4% | β29.7% | β52.5% | β75.8% | β116.0% | β10,126.5% |
| Return on tangible equity | β185.2% | β285.4% | β132.1% | β1,077.8% | β89.6% | β1,480.6% | β205.2% | β512.0% | β | β |
| Growth | ||||||||||
| Revenue growth | β | 53.2% | β31.4% | β47.2% | 50.5% | 2.7% | 41.2% | β27.4% | β6.4% | β |
| Share count change | β | 62.9% | 11.3% | 26.9% | 62.1% | 24.5% | β | β | β | β |
| Financial health | ||||||||||
| Current ratio | 3.3x | 1.8x | 2.2x | 1.6x | 5.0x | 3.8x | 2.7x | 1.7x | 0.7x | 7.6x |
| Quick ratio | 3.1x | 1.7x | 2.2x | 1.6x | 4.8x | 2.9x | 1.9x | 1.6x | 0.7x | 7.6x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.3% | 1.3% | 0.4% | 0.3% | 0.3% | 0.5% | 0.8% | 0.2% | 0.1% | β |
| Stock comp / revenue | 14.7% | 13.9% | 5.4% | 7.4% | 5.4% | 9.1% | 1.5% | 2.8% | 1.5% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 4.0 | 1.0 | 4.0 | 2.0 | 2.0 | 3.0 | 2.0 | β |
| Altman Z'' | β21.5 | β37.8 | β41.2 | β39.7 | β22.6 | β18.3 | β32.6 | β63.5 | β191.0 | β297.4 |
| Accruals ratio | β9.7% | β8.9% | β10.1% | β16.8% | β47.8% | 17.2% | β19.6% | β43.3% | 4.4% | β9,991.2% |
Source: SEC EDGAR XBRL filings (CIK 0001389545). 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.