Netcapital Inc. (NCPL) Financial Statements
Industry: Finance Services
In fiscal 2025, Netcapital reported revenue of $869,460, down 82.4% from $5.0M the year before. Net income was -$28.3M (a -3255.0% net margin), or -$20.39 per diluted share. Gross margin was 95.4% and operating margin was -957.1%. Operating activities generated -$5.3M of cash. At fiscal year end, Netcapital held $20.9M in total assets against $6.0M in total liabilities.
Open the full interactive Netcapital financials → Quarterly statements, key ratios, valuation history and price charts.
Netcapital Key Stats
| Share Price | $1.39 |
|---|---|
| Market Cap | $7.8M |
| Revenue YoY Growth | -82.4% |
| 52-Week Range | $0.23 – $2.48 |
| Shares Outstanding | 5.6 million (basic, 2026 Q3) |
Netcapital Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.8M | $4.7M | $5.5M | $8.5M | $5.0M | $869,460 |
| Cost of Goods Sold | $595,231 | $4.4M | $6.4M | $6.1M | $8.3M | $9.2M |
| Gross Profit | $1.7M | $4.0M | $5.4M | $8.4M | $4.8M | $829,116 |
| Operating Income | $1.1M | -$401,501 | -$1.0M | $2.3M | -$3.4M | -$8.3M |
| Pre-Tax Income | $784,851 | $856,660 | $4.0M | $3.8M | -$7.3M | -$28.3M |
| Income Tax | $180,000 | -$613,000 | $544,000 | $854,000 | -$2.3M | — |
| Net Income | $604,851 | $1.5M | $3.5M | $3.0M | -$5.0M | -$28.3M |
| Diluted EPS | — | $62.30 | $88.90 | $44.10 | -$28.70 | -$20.39 |
Netcapital Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $404,023 | $190,058 | $51,076 | $94,347 |
| Net Income | -$20.5M | -$3.6M | -$2.1M | -$1.8M |
| Diluted EPS | -$0.01 | -$1.27 | -$0.44 | -$0.32 |
Netcapital Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $11,206 | — | — | — | — | — |
| Current Assets | $656,761 | $4.5M | $2.9M | $2.5M | $1.0M | $399,612 |
| Total Assets | $2.2M | $25.7M | $31.8M | $41.8M | $41.6M | $20.9M |
| Current Liabilities | $1.5M | $9.2M | $6.0M | $5.2M | $3.1M | $5.5M |
| Total Long-Term Debt | — | — | $4.1M | $2.8M | $2.4M | $2.7M |
| Total Liabilities | $1.5M | $11.5M | $6.5M | $5.7M | $3.6M | $6.0M |
| Shareholders' Equity | $679,156 | $14.2M | $25.2M | $36.2M | $37.9M | $14.9M |
Netcapital Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$3,604 | -$3.3M | -$3.0M | -$4.6M | -$4.9M | -$5.3M |
| Cash From Investing | — | $242,025 | -$319,166 | $200,000 | -$20,000 | — |
| Cash From Financing | -$4,300 | $5.5M | $1.3M | $4.5M | $5.2M | $4.8M |
Figures from Netcapital's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Netcapital financials page for every line item.
Netcapital Company Profile
| Ticker | NCPL |
|---|---|
| Exchange | Nasdaq |
| Industry | Finance Services |
| Headquarters | Boston, Massachusetts |
| Incorporated in | Utah |
| Fiscal Year End | April 30 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001414767 |
Frequently Asked Questions
What was Netcapital's revenue in fiscal 2025?
Netcapital (NCPL) reported revenue of $869,460 for fiscal 2025.
What is Netcapital's annual revenue history?
Netcapital's annual revenue by fiscal year: 2020: $1.8M; 2021: $4.7M; 2022: $5.5M; 2023: $8.5M; 2024: $5.0M; 2025: $869,460.
What was Netcapital's net income in fiscal 2025?
Netcapital reported net income of -$28.3M for fiscal 2025.
What was Netcapital's earnings per share (EPS) in fiscal 2025?
Netcapital's diluted EPS was -$20.39 for fiscal 2025 (adjusted for any later stock splits).
What was Netcapital's revenue last quarter?
In its most recent reported quarter (2026 Q3), Netcapital reported revenue of $94,347.
How much debt does Netcapital have?
Netcapital reported $2.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Netcapital are outstanding?
Netcapital reported a weighted average of 5.6 million basic shares outstanding in 2026 Q3.
What is Netcapital's market cap?
Based on its latest closing price, Netcapital (NCPL) has a market capitalization of about $7.8M.
When does Netcapital's fiscal year end?
Netcapital's fiscal year end, as registered with the SEC, is April 30.
Where is Netcapital headquartered?
Netcapital lists its business address in Boston, Massachusetts in its SEC filings.