FiEE, Inc. FIEE
FiEE, Inc. (formerly, Minim, Inc.) was founded in 1977 as a networking company and historically delivered a comprehensive WiFi/Software as a Service ("SaaS") platform to make connected homes safe and supportive for life and work. During this period, we held the exclusive global license to design, manufacture, and sell consumer networking products under the Motorola brand until 2023. Our legacy cable and WiFi products, including cable modems, routers, and mesh networking devices, were sold in leading retailers and e-commerce channels in the United States ("U.S.")
Building upon our history in networking and software, we are currently transforming our operations as a digital service provider focused on integrating artificial intelligence ("AI") and data analytics into content creation, digital authentication, and brand management. Our current business model leverages a cloud-based SaaS platform designed to support clients in developing, managing, and optimizing their digital presence across global platforms, including customized graphic and posts, short videos, and editorial calendars aligned with brand goals. Additionally, we offer comprehensive software development and maintenance services, delivering custom software solutions from system design and development to deployment and post-launch maintenance. In July 2025, we formally launched customized software services. This transition represents a strategic pivot toward high-growth, emerging technology sectors, including AI, blockchain, and the Multi-Channel Network ("MCN") ecosystem.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.2M | $639.9K | $26.1M | $50.6M | $55.4M | $48.0M | $37.6M | $32.3M | $29.4M | $17.8M |
| Cost of revenue | $840.0K | $432.6K | $25.6M | $38.7M | $36.5M | $34.4M | $26.7M | $20.7M | $19.2M | $12.5M |
| Gross profit | $5.4M | $207.3K | $470.9K | $11.9M | $18.9M | $13.6M | $10.9M | $11.6M | $10.2M | $5.4M |
| R&D | $47.4K | $113.3K | $3.4M | $5.8M | $6.2M | $3.8M | $2.2M | $1.8M | $1.9M | $1.5M |
| SG&A | $3.3M | $2.1M | $4.8M | $6.1M | $4.9M | $5.4M | $2.7M | $1.6M | $2.3M | $1.5M |
| Total operating expenses | $3.8M | $4.4M | $17.7M | $27.0M | $20.8M | $18.4M | $14.1M | $11.6M | $11.5M | $8.3M |
| Operating income | $1.6M | -$4.2M | -$17.2M | -$15.0M | -$1.9M | -$4.8M | -$3.2M | $52.7K | -$1.2M | -$2.9M |
| Interest expense | $9.0K | $82 | $386.0K | $394.6K | $270.4K | $48.6K | $48.4K | $78.4K | $98.8K | $54.5K |
| Pre-tax income | $1.5M | -$4.2M | -$17.6M | -$15.4M | -$2.1M | -$3.8M | -$3.3M | -$48.5K | -$1.4M | -$2.9M |
| Income tax | $448.2K | $11.2K | $42.6K | $112.3K | $63.8K | $26.7K | $24.9K | $25.8K | $14.7K | $7.1K |
| Net income | $1.1M | -$4.2M | -$17.6M | -$15.5M | -$2.2M | -$3.9M | -$3.3M | -$74.3K | -$1.4M | -$2.9M |
| EPS, basic | 0.12 | -1.34 | -8.65 | -8.38 | -0.06 | -0.15 | — | — | — | — |
| EPS, diluted | 0.10 | -1.34 | -8.65 | -8.38 | -0.09 | -0.15 | -0.18 | 0.00 | -0.09 | -0.21 |
| Shares, diluted (wtd. avg.) | 7.1M | 3.2M | 2.0M | 1.9M | 39.8M | 25.3M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.1M | $30.2K | $709.3K | $530.1K | $12.6M | $771.8K | $1.2M | $126.0K | $229.2K | $179.8K |
| Receivables | $2.1M | $0 | $701.4K | $2.8M | $4.9M | $9.2M | $4.1M | $2.8M | $2.2M | $2.5M |
| Inventory | — | — | $10.0M | $25.4M | $33.9M | $16.5M | $7.4M | $7.9M | $5.2M | $4.9M |
| Total current assets | $6.6M | $164.9K | $11.4M | $29.6M | $52.4M | $27.7M | $13.1M | $11.7M | $8.2M | $8.3M |
| Property, plant and equipment | $366.4K | $119.9K | $432.5K | $637.0K | $762.8K | $455.1K | $303.1K | $261.5K | $161.6K | $175.7K |
| Goodwill | — | — | — | — | $58.9K | $58.9K | $0 | — | — | — |
| Other intangibles | $3.5M | — | $33.2K | $73.3K | $262.7K | $388.6K | $0 | — | — | — |
| Total assets | $10.8M | $307.0K | $12.4M | $31.0M | $54.3M | $29.6M | $13.9M | $12.2M | $8.8M | $9.0M |
| Accounts payable | $511.2K | $143.4K | $11.1M | $2.8M | $12.5M | $11.7M | $5.0M | $4.4M | $3.5M | $2.5M |
| Short-term debt | — | — | — | — | $34.2K | $2.5M | $0 | — | — | — |
| Total current liabilities | $4.2M | $437.0K | $12.2M | $13.8M | $23.3M | $21.8M | $7.8M | $8.3M | $5.6M | $4.9M |
| Long-term debt | — | — | — | — | — | $15.2K | $0 | — | — | — |
| Total liabilities | $4.2M | $437.0K | $12.2M | $14.6M | $23.8M | $21.8M | $7.8M | — | — | $4.9M |
| Retained earnings | -$95.6M | -$96.7M | -$92.5M | -$74.8M | -$59.3M | -$57.1M | -$40.6M | -$37.3M | -$37.2M | -$35.9M |
| Total equity | $6.6M | -$130.0K | $115.9K | $16.3M | $30.5M | $7.8M | $6.1M | $3.9M | $3.2M | $4.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.6M | -$3.8M | $4.8M | -$12.2M | -$14.3M | -$7.1M | -$1.5M | -$1.8M | $1.3M | -$4.2M |
| Depreciation and amortisation | $160.0K | $282.0K | $368.0K | $403.0K | $255.0K | $157.0K | $132.6K | $137.0K | $114.0K | $87.6K |
| Stock-based compensation | $122.7K | $897.2K | $279.4K | $1.2M | $996.9K | $440.9K | $505.2K | $399.8K | $196.3K | $178.0K |
| Capital expenditure | $186.1K | — | $162.3K | $276.7K | $593.1K | $302.5K | $174.3K | $236.9K | $99.8K | $58.2K |
| Investing cash flow | -$4.9M | $11.6K | -$381.9K | -$695.0K | -$681.8K | -$578.1K | -$484.3K | -$329.9K | -$249.8K | -$531.2K |
| Financing cash flow | $4.3M | $3.1M | -$4.8M | $824.8K | $26.5M | $7.9M | $3.3M | $2.0M | -$1.0M | $3.1M |
| Buybacks | — | — | — | — | $15.0K | $15.0K | — | — | — | — |
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 0001829126-26-004105.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.8M | $29.4M | $32.3M | $37.6M | $48.0M | $55.4M | $50.6M | $26.1M | $639.9K | $6.2M |
| Gross profit | $5.4M | $10.2M | $11.6M | $10.9M | $13.6M | $18.9M | $11.9M | $470.9K | $207.3K | $5.4M |
| Net income | -$2.9M | -$1.4M | -$74.3K | -$3.3M | -$3.9M | -$2.2M | -$15.5M | -$17.6M | -$4.2M | $1.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- 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
- Officer or director change Item 5.02
- Results announced Item 2.02
- Material agreement signed Item 1.01
- 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
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Results announced Item 2.02
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.
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