Troops, Inc. /Cayman Islands/ TROO
Last close
2.35
2026-10-23
Market cap
$287.1M
2025-12-31 share count
52-week range
1.02 - 5.28
Valuation FY2025 figures against the last close
P/S16.8x
P/E—
P/FCF416.1x
EV/EBITDA—
Dividend yield—
Diluted EPS-0.23
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.1M | $10.1M | $3.6M | $3.9M | $3.7M | $4.3M | $5.1M | $1.6M | $51.0K | $5.1M |
| Cost of revenue | $15.5M | $8.1M | $2.8M | $3.1M | $3.3M | $5.4M | $2.4M | $1.3M | $1.3M | $4.9M |
| Gross profit | $1.6M | $1.9M | $776.0K | $822.0K | $360.0K | -$1.1M | $2.7M | $313.0K | -$1.3M | $202.0K |
| SG&A | $17.9M | $4.0M | $2.8M | $2.2M | $2.7M | $2.6M | $4.2M | $2.2M | $2.0M | $4.1M |
| Total operating expenses | $31.1M | $7.7M | $2.6M | $1.4M | $9.2M | $66.3M | $3.5M | $2.8M | $7.8M | $4.2M |
| Operating income | -$29.5M | -$5.7M | -$1.8M | -$536.0K | -$8.8M | -$67.3M | -$732.0K | -$2.5M | -$9.1M | -$4.0M |
| Interest expense | — | — | — | — | $93.0K | $39.0K | $2.0K | $0 | — | — |
| Pre-tax income | -$29.4M | -$13.4M | -$1.9M | -$402.0K | -$8.5M | -$68.2M | -$533.0K | -$1.9M | -$9.2M | -$5.4M |
| Income tax | $1.5M | $27.0K | $140.0K | $56.0K | $126.0K | $309.0K | $410.0K | $16.0K | $350.0K | $315.0K |
| Net income | -$27.9M | -$13.4M | -$1.7M | -$346.0K | -$8.4M | -$67.9M | -$19.4M | -$12.4M | -$11.2M | -$5.0M |
| EPS, basic | -0.23 | -0.13 | -0.02 | -0.01 | -0.08 | -0.69 | -0.24 | -0.35 | -0.99 | -0.68 |
| EPS, diluted | -0.23 | -0.13 | -0.02 | -0.01 | -0.08 | -0.69 | -0.24 | -0.35 | -0.99 | -0.68 |
| Shares, diluted (wtd. avg.) | 120.7M | 102.2M | 101.6M | 101.6M | 101.6M | 98.1M | 79.2M | 35.1M | 11.3M | 7.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.0M | $5.2M | $3.1M | $3.0M | $3.5M | $3.0M | $5.2M | $14.3M | $4.8M | $29.0K |
| Receivables | $456.0K | $1.1M | $2.0K | — | $8.0K | $8.0K | $12.0K | $12.0K | $0 | $119.0K |
| Total current assets | $15.3M | $19.6M | $10.7M | $11.5M | $6.2M | $25.6M | $46.4M | $76.5M | $5.7M | $6.6M |
| Property, plant and equipment | $29.4M | $44.9M | $46.8M | $48.7M | $50.6M | $52.1M | $55.1M | $58.3M | $511.0K | $5.0K |
| Goodwill | $12.3M | $12.3M | $385.0K | $385.0K | $385.0K | $5.1M | $60.1M | $248.0K | $31.1M | $36.5M |
| Other intangibles | $1.2M | $1.4M | $29.0K | $42.0K | $61.0K | $446.0K | $0 | $22.6M | $23.9M | $25.3M |
| Total assets | $69.1M | $79.2M | $70.3M | $69.7M | $70.3M | $90.1M | $139.7M | $190.8M | $98.5M | $100.3M |
| Accounts payable | $1.2M | $1.6M | — | — | — | $0 | $1.0K | $0 | $235.0K | $222.0K |
| Total current liabilities | $16.6M | $5.9M | $4.7M | $2.2M | $2.2M | $7.4M | $6.5M | $10.0M | $3.4M | $7.3M |
| Long-term debt | — | — | — | — | — | — | $21.1M | — | — | — |
| Total liabilities | $20.0M | $10.9M | $9.8M | $7.5M | $7.8M | $19.5M | $20.0M | $22.7M | $14.6M | $13.6M |
| Retained earnings | -$116.9M | -$89.0M | -$75.6M | -$73.9M | -$73.5M | -$65.1M | $2.3M | $21.1M | $40.9M | $52.1M |
| Total equity | $49.0M | $68.2M | $60.6M | $62.2M | $62.5M | $70.6M | $119.8M | $166.7M | $83.8M | $86.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $807.0K | $2.0M | -$6.5M | -$368.0K | $12.3M | $21.9M | $3.1M | -$36.2M | -$8.0M | -$1.1M |
| Depreciation and amortisation | $2.3M | $2.2M | $2.1M | $2.0M | $2.1M | $4.8M | $2.1M | $1.1M | $1.4M | $1.3M |
| Stock-based compensation | — | — | — | — | $261.0K | $680.0K | $600.0K | $534.0K | $741.0K | $1.6M |
| Capital expenditure | $117.0K | $251.0K | $221.0K | $156.0K | $402.0K | $118.0K | $257.0K | $0 | $0 | $0 |
| Investing cash flow | -$9.1M | $492.0K | $4.8M | -$156.0K | -$5.6M | -$27.4M | -$19.3M | -$10.4M | $7.4M | -$6.8M |
| Financing cash flow | $7.1M | -$384.0K | $1.9M | — | -$6.2M | $3.4M | $7.0M | $56.1M | $5.3M | $7.5M |
| Buybacks | $4.0M | $4.0M | — | — | — | — | — | — | — | — |
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 0001104659-26-052000.
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 | $5.1M | $51.0K | $1.6M | $5.1M | $4.3M | $3.7M | $3.9M | $3.6M | $10.1M | $17.1M |
| Gross profit | $202.0K | -$1.3M | $313.0K | $2.7M | -$1.1M | $360.0K | $822.0K | $776.0K | $1.9M | $1.6M |
| Net income | -$5.0M | -$11.2M | -$12.4M | -$19.4M | -$67.9M | -$8.4M | -$346.0K | -$1.7M | -$13.4M | -$27.9M |
Others in SIC 6159
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SWKHL | SWK Holdings Corp | $304.4M | — | -40.5% |
| NRUC | NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | — | — | — |
| IX | ORIX CORP | — | — | — |