Voyager Technologies, Inc. (VOYG) Income Statement
VOYG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVOYG revenue and net income
Where VOYG's revenue goes
2025Each bar shows an amount and its share of revenue. VOYG kept −63.0% of revenue as net income.
VOYG profit margins
VOYG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.4% | — | — | — |
| Gross profit | −38.9% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VOYG quarterly EPS vs estimates
Voyager Technologies beat the analyst EPS estimate in 2 of the last 6 quarters. Next report: November 2, 2026 (estimate $-0.89).
VOYG income statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $166.4M | $144.2M | $136.1M |
| Cost of revenue | $145.1M | $109.3M | $108.3M |
| Gross profit | $21.3M | $34.9M | $27.8M |
| Research & development | $12.8M | $7.6M | $18.5M |
| Sales, general & admin | $117.1M | $62.6M | $53.3M |
| Total operating expenses | $124.4M | $83.4M | $42.0M |
| Operating income | −$103.1M | −$48.4M | −$14.2M |
| Interest expense | $6.8M | $12.0M | $10.6M |
| Income before taxes | −$112.8M | −$67.3M | −$24.9M |
| Income taxes | −$440,000 | −$1.7M | $341,000 |
| Net income | −$104.8M | −$62.1M | −$25.4M |
| EBITDA | −$89.6M | −$38.9M | −$1.3M |
| EPS (diluted) | −$3.32 | −$1.10 | −$1.96 |
| Gross margin | 12.8% | 24.2% | 20.4% |
| Operating margin | −61.9% | −33.6% | −10.4% |
| Net margin | −63.0% | −43.1% | −18.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $52.7M | $35.2M | $46.7M | $39.6M | $45.7M | $34.5M | $37.7M | $39.6M | $36.7M | $30.2M |
| Cost of revenue | $48.3M | $41.0M | $40.1M | $33.5M | $39.1M | $28.9M | $30.6M | $33.3M | $27.4M | $24.0M |
| Gross profit | $4.5M | −$5.8M | $6.6M | $6.1M | $6.6M | $5.6M | $7.1M | $6.3M | $9.3M | $6.2M |
| Research & development | $7.3M | $7.5M | $5.2M | $3.0M | $502,000 | $4.0M | $371,000 | $397,000 | $6.9M | $767,000 |
| Sales, general & admin | $43.7M | $31.4M | $35.5M | $25.1M | $30.2M | $26.3M | — | — | $13.3M | $15.6M |
| Total operating expenses | $55.9M | $37.7M | $37.7M | $30.1M | $29.9M | $31.9M | $18.5M | $14.4M | $21.9M | $18.1M |
| Operating income | −$51.4M | −$43.5M | −$31.1M | −$24.0M | −$23.3M | −$26.3M | −$11.4M | −$8.2M | −$12.6M | −$11.9M |
| Interest expense | $1.9M | $2.1M | $1.4M | $200,000 | $2.5M | $2.7M | $3.0M | $2.9M | $3.1M | $3.0M |
| Income before taxes | −$50.9M | −$42.7M | −$31.8M | −$20.1M | −$33.0M | −$27.9M | −$11.3M | −$15.2M | −$26.2M | −$14.7M |
| Income taxes | −$2.2M | $3.2M | $1.2M | −$1.8M | $81,000 | $48,000 | −$1.9M | $92,000 | −$122,000 | $248,000 |
| Net income | −$46.5M | −$44.0M | −$30.2M | −$16.3M | −$31.4M | −$26.9M | −$9.0M | −$15.0M | −$23.3M | −$14.8M |
| EBITDA | −$41.9M | −$33.4M | −$24.3M | −$16.3M | −$27.1M | −$21.9M | −$6.8M | −$3.3M | −$19.6M | −$8.4M |
| EPS (diluted) | −$0.76 | −$0.61 | −$0.37 | −$0.22 | −$0.60 | −$2.13 | — | — | — | — |
| Gross margin | 8.4% | −16.4% | 14.1% | 15.4% | 14.5% | 16.2% | 18.8% | 15.9% | 25.3% | 20.5% |
| Operating margin | −97.5% | −123.4% | −66.6% | −60.7% | −51.1% | −76.2% | −30.3% | −20.6% | −34.5% | −39.4% |
| Net margin | −88.1% | −124.8% | −64.8% | −41.1% | −68.7% | −78.1% | −23.8% | −37.8% | −63.6% | −49.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VOYG's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VOYG financial results
In fiscal year 2025 (ended December 31, 2025), Voyager Technologies reported revenue of $166.4 million, up 15.4% from the year before. It had a net loss of $104.8 million, a net profit margin of −63.0%. Diluted earnings per share came to −$3.32.
See the VOYG stock overview for the latest quote and news, or the VOYG chart for price history and technical indicators.
VOYG income statement FAQ
What is Voyager Technologies's annual revenue?
Voyager Technologies reported total revenue of $166.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 15.4% from $144.2 million the previous year.
Is Voyager Technologies profitable?
No. Voyager Technologies reported a net loss of $104.8 million in fiscal 2025, a net profit margin of −63.0%; its operating margin was −61.9%.
What is Voyager Technologies's gross margin?
Voyager Technologies's gross margin was 12.8% in fiscal 2025: for every $100 of revenue, Voyager Technologies kept $13 after the direct cost of its products and services.
How much does Voyager Technologies spend on research and development?
Voyager Technologies spent $12.8 million on research and development in fiscal 2025, 7.7% of revenue.
What are Voyager Technologies's earnings per share?
Voyager Technologies earned $-3.32 per diluted share in fiscal 2025, compared with $-1.10 a year earlier.
When will Voyager Technologies report its next earnings?
Voyager Technologies is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Voyager Technologies's fiscal year end?
Voyager Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.