VASO CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $89.1M | $86.8M | $81.0M | $79.3M | $75.6M | $69.9M | $75.5M | $74.0M |
| Cost of Revenue | $34.4M | $34.7M | $30.4M | $31.4M | $32.4M | $31.3M | $33.1M | $32.9M |
| Gross Profit | $54.7M | $52.1M | $50.6M | $47.9M | $43.1M | $38.6M | $42.4M | $41.1M |
| Gross Margin | 61.4% | 60.0% | 62.4% | 60.4% | 57.1% | 55.2% | 56.2% | 55.6% |
| Operating Expenses | ||||||||
| Research & Development | $728.0K | $851.0K | $755.0K | $605.0K | $1.7M | $745.0K | $813.0K | $886.0K |
| SG&A Expense | $52.2M | $49.0M | $45.1M | $40.8M | $38.6M | $37.1M | $41.0M | $44.0M |
| Operating Income | $-2.9M | $285.0K | $4.2M | $6.5M | $2.8M | $772.0K | $591.0K | $-3.7M |
| Operating Margin | -3.2% | 0.3% | 5.2% | 8.1% | 3.7% | 1.1% | 0.8% | -5.0% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-1.3M | $1.3M | $4.9M | $6.6M | $6.3M | $357.0K | $-271.0K | $-4.1M |
| Income Tax Expense | $-2.9M | $326.0K | $100.0K | $-4.7M | $151.0K | $1.0K | $111.0K | $-385.0K |
| Net Income | $1.6M | $951.0K | $4.8M | $11.3M | $6.1M | $358.0K | $-382.0K | $-3.7M |
| Net Margin | 1.8% | 1.1% | 5.9% | 14.2% | 8.1% | 0.5% | -0.5% | -5.0% |
| EPS (Basic) | $0.01 | $0.01 | $0.03 | $0.07 | $0.04 | $0.00 | $0.00 | $0.00 |
| EPS (Diluted) | $0.01 | $0.01 | $0.03 | $0.06 | — | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 175.8M | 175.4M | 174.4M | 173.1M | 171.7K | 172.8M | 170.7M | 168.2M |
| Shares Outstanding (Diluted) | 176.0M | 175.6M | 175.5M | 174.7M | 173.8M | 173.8M | 170.7M | 168.2M |
| Dividends Per Share | — | — | — | — | — | — | — | — |