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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q3 FY262026-01-31 | Q2 FY262025-10-31 | Q1 FY262025-07-31 | Q4 FY252025-04-30 | Q3 FY252025-01-31 | Q2 FY252024-10-31 | Q1 FY252024-07-31 | Q4 FY242024-04-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $94.35K | $51.08K | $190.06K | $404.02K | $152.68K | $170.53K | $142.23K | $347.18K |
| Cost of revenue | $1.82K | $1.88K | $7.41K | $3.19K | $7.16K | $19.78K | $10.22K | $11.00K |
| Gross profit | $92.52K | $49.20K | $182.65K | $400.84K | $145.53K | $150.75K | $132.01K | $336.18K |
| Gross margin | 98.1% | 96.3% | 96.1% | 99.2% | 95.3% | 88.4% | 92.8% | 96.8% |
| Selling, general and administrative | $2.25M | $2.15M | $3.45M | $2.30M | $1.81M | $2.33M | $2.62M | $1.86M |
| Operating expenses | $2.32M | $2.18M | $3.48M | $22.27M | $1.84M | $2.36M | $2.65M | $3.02M |
| Operating income | −$2.23M | −$2.13M | −$3.29M | −$21.87M | −$1.70M | −$2.21M | −$2.52M | −$2.68M |
| Operating margin | -2362.2% | -4167.0% | -1733.4% | -5414.0% | -1111.2% | -1296.7% | -1769.8% | -772.7% |
| EBITDA | −$2.17M | −$2.12M | −$3.29M | −$1.95M | −$1.69M | −$2.20M | −$2.51M | −$1.63M |
| Interest income | $630 | $11.04K | $0 | −$1.20K | $400 | $400 | $400 | $0 |
| Interest expense | −$24.08K | −$12.20K | −$36.07K | −$10.85K | −$10.38K | −$9.60K | −$10.46K | −$10.21K |
| Income before taxes | −$1.81M | −$2.13M | −$3.64M | −$20.55M | −$3.01M | −$2.22M | −$2.53M | −$2.61M |
| Net income | −$1.81M | −$2.13M | −$3.64M | −$20.55M | −$3.01M | −$2.22M | −$2.53M | −$2.61M |
| Net margin | -1921.5% | -4169.3% | -1916.3% | -5085.6% | -1969.1% | -1302.1% | -1776.9% | -750.8% |
| EPS, basic | −$0.32 | −$0.44 | −$1.27 | −$9.37 | −$1.57 | −$2.34 | −$5.10 | −$9.10 |
| EPS, diluted | −$0.32 | −$0.44 | −$1.27 | −$9.37 | −$1.57 | −$2.34 | −$5.10 | −$9.10 |
| Diluted shares | 5.61M | 4.81M | 2.87M | 2.19M | 1.92M | 947.46K | 495.32K | 286.41K |
Figures describe Netcapital shares, not any token. As of Mar 19, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.