Z Squared Inc. income statement
In fiscal 2025, Z Squared Inc. reported revenue of $1.4m, operating income of −$13.0m (a -956.9% margin) and net income of −$11.9m, or −$0.23 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 1 | 3 |
| Cost of revenue | 0 | 0 | 0 | 0 | 0 | 3 |
| Gross profit | 0 | 0 | 0 | 0 | 1 | −1 |
| Research and development | 0 | 0 | 7 | 2 | 1 | — |
| Selling and marketing | 0 | 0 | 0 | 0 | 0 | — |
| General and administrative | 14 | 3 | 1 | 1 | — | — |
| Operating income | −14 | −34 | −21 | −10 | −13 | −22 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | −0 |
| Income before tax | −13 | −38 | −21 | −11 | −12 | −22 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −13 | −38 | −21 | −11 | −12 | −18 |
| Diluted EPS | −$1.99 | −$0.21 | −$1.34 | −$0.45 | −$0.23 | — |
| Diluted shares (average) | 7m | 9m | 16m | 24m | 52m | — |
| EBITDA | −14 | −33 | −20 | −9 | −12 | −20 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 2 |
| Cost of revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Gross profit | 0 | 0 | 0 | 0 | 0 | 1 | 0 | −2 |
| Research and development | 1 | 0 | 0 | 0 | 1 | 0 | 0 | — |
| Selling and marketing | 0 | −0 | 0 | 0 | — | — | 0 | 0 |
| General and administrative | 0 | 0 | 0 | 1 | 0 | — | — | — |
| Operating income | −2 | −2 | −4 | 0 | −2 | −2 | −4 | −14 |
| Interest expense | 0 | −0 | 0 | 0 | 0 | −0 | 0 | 0 |
| Income before tax | −2 | −3 | −3 | 0 | −3 | −2 | −4 | −14 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −2 | −3 | −3 | 0 | −3 | −1 | −0 | −14 |
| Diluted EPS | −$0.00 | −$0.43 | −$0.09 | $0.00 | −$0.05 | −$0.01 | −$0.05 | −$0.28 |
| EBITDA | −2 | −2 | −4 | 0 | −2 | −2 | −4 | −13 |
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