Change Agents Corporation. CHGA
strategic focus on developing innovative products and services that serve growing consumer health and technology markets. Throughout our
operating history, we have maintained our corporate identity, management team and original mission while strategically evolving our business
in response to market conditions and commercial opportunities, with each such evolution being the product of deliberate decisions. We
are actively seeking complementary bolt-on AI acquisitions that could generate near-term revenue to supplement our current operations
Last close
1.65
2026-10-23
Market cap
$32.9M
2026-06-30 share count
52-week range
1.33 - 5.74
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-5.64
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $1.3M | $1.3M | $1.2M | $1.4M | $1.4M | $1.5M | $1.6M | $1.1M | $616.4K |
| Gross profit | — | — | — | $272.7K | $414.5K | $390.2K | $339.9K | $388.0K | $49.8K | -$543.4K |
| R&D | — | — | $109.6K | $731.3K | $1.0M | $883.9K | $1.8M | $39.1K | — | — |
| Total operating expenses | — | $1.1M | $1.0M | $929.4K | $9.2M | $12.8M | $19.7M | $8.0M | $4.1M | $466.4K |
| Operating income | -$7.6M | -$4.8M | -$15.8M | -$8.8M | -$8.8M | -$12.5M | -$19.4M | -$7.6M | -$3.9M | $76.9K |
| Interest expense | $1.5M | $1.7M | $1.4M | $176.0K | — | — | $33.7K | $314.7K | $138.1K | $575 |
| Pre-tax income | -$17.5M | -$7.0M | -$16.7M | -$11.9M | -$9.1M | -$12.7M | -$18.1M | -$8.1M | -$4.0M | $77.5K |
| Income tax | — | — | — | — | — | — | — | — | — | $21.9K |
| Net income | -$18.3M | -$7.9M | -$16.7M | -$11.9M | -$9.1M | -$12.7M | -$18.1M | -$8.1M | -$4.0M | $55.6K |
| EPS, basic | -5.64 | -8.44 | -23.80 | -1.28 | -1.07 | — | — | — | — | — |
| EPS, diluted | -5.64 | -8.44 | -23.80 | -1.28 | -1.07 | — | — | — | — | — |
| Shares, diluted (wtd. avg.) | 3.2M | 936,614 | 701,932 | 9.3M | 8.5M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $109.1K | $2.7M | $76.5K | $2.0M | $807.5K | $726.6K | $764.9K | $2.3M | $3.0M | $2.9M |
| Receivables | — | — | — | — | — | — | $23.8K | $42.5K | $38.5K | — |
| Inventory | — | — | — | — | — | — | — | $13.0K | $2.7K | — |
| Total current assets | $1.5M | $3.2M | $850.9K | $2.4M | $1.3M | $1.3M | $1.6M | $3.6M | $3.2M | $3.7M |
| Property, plant and equipment | $727 | $1.3K | $38.1K | $138.3K | $361.5K | $479.1K | $601.4K | $249.6K | $48.0K | $295 |
| Goodwill | $12.8M | — | — | — | — | — | — | — | — | — |
| Other intangibles | $2.2M | $8.7M | $9.4M | — | — | — | — | $1.3M | $1.6M | — |
| Total assets | $23.4M | $21.0M | $20.6M | $19.8M | $10.2M | $10.4M | $10.5M | $13.4M | $12.7M | $3.7M |
| Accounts payable | — | — | — | — | — | $87.2K | $84.3K | $6.7K | $29 | $22.3K |
| Short-term debt | — | — | $1.0M | $1.0M | — | — | — | — | — | — |
| Total current liabilities | $14.1M | $13.9M | $6.8M | $3.6M | $4.4M | $2.6M | $2.8M | $1.1M | $5.4M | $160.3K |
| Long-term debt | — | — | — | — | $3.0M | — | — | — | — | — |
| Total liabilities | $14.2M | $13.9M | $13.2M | $8.6M | $7.2M | $6.2M | $6.0M | $2.1M | $5.4M | — |
| Retained earnings | -$105.9M | -$87.7M | -$79.8M | -$63.1M | -$51.1M | -$42.0M | -$29.4M | -$11.3M | -$3.5M | -$53.4K |
| Total equity | $9.2M | $7.1M | $7.4M | $11.2M | $3.1M | $4.1M | $4.5M | $11.3M | $7.3M | $3.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.6M | -$4.7M | -$6.5M | -$7.0M | -$5.0M | -$7.5M | -$7.1M | -$4.4M | -$1.3M | $14.0K |
| Depreciation and amortisation | $94.4K | $611 | $211.7K | $330.7K | $311.8K | $314.8K | $100.5K | $59.9K | $10.4K | $26 |
| Stock-based compensation | $1.8M | $521.5K | $1.2M | $1.1M | $2.1M | $5.5M | $9.2M | $3.1M | $993.0K | $52.5K |
| Capital expenditure | — | — | $22.2K | $1.7K | $17.5K | — | $377.5K | $113.1K | $148.0K | $334 |
| Investing cash flow | $1.1M | -$100.0K | -$22.2K | -$9.1M | -$68.1K | -$169.2K | -$553.0K | -$1.3M | -$8.0M | -$930.3K |
| Financing cash flow | $1.4M | $7.6M | $4.8M | $17.3M | $5.2M | $7.7M | $6.2M | $5.0M | $9.5M | $3.8M |
| Buybacks | — | — | — | — | — | — | — | $522.5K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-093149.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $616.4K | $1.1M | $1.6M | $1.5M | $1.4M | $1.4M | $1.2M | $1.3M | $1.3M | $0 |
| Gross profit | -$543.4K | $49.8K | $388.0K | $339.9K | $390.2K | $414.5K | $272.7K | — | — | — |
| Net income | $55.6K | -$4.0M | -$8.1M | -$18.1M | -$12.7M | -$9.1M | -$11.9M | -$16.7M | -$7.9M | -$18.3M |
Recent filings and events
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Item 3.02
- Unregistered share sale Item 3.02
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7371
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ZS | Zscaler, Inc. | $41.60B | — | 25.4% |
| CTSH | COGNIZANT TECHNOLOGY SOLUTIONS CORP | $33.43B | 15.5x | 7.0% |
| VRSN | VERISIGN INC/CA | $27.12B | — | 6.4% |
| EPAM | EPAM Systems, Inc. | $7.03B | 20.3x | 15.4% |
| DOCS | Doximity, Inc. | $6.10B | 34.1x | 13.1% |
| RGTI | Rigetti Computing, Inc. | $3.85B | — | -34.3% |
| IA | INNOVATIVE SOLUTIONS & SUPPORT INC | $351.9M | 22.3x | 78.6% |
| RDNW | RideNow Group, Inc. | $209.4M | — | -10.5% |