Z Squared Inc. (ZSQR) Income Statement
ZSQR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsZSQR revenue and net income
Where ZSQR's revenue goes
2025Each bar shows an amount and its share of revenue. ZSQR kept −874.3% of revenue as net income.
ZSQR profit margins
ZSQR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| 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.
ZSQR quarterly EPS vs estimates
Next report: November 12, 2026.
ZSQR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $1.4M | $0 | $0 | $0 | $75,000 | $0 |
| Cost of revenue | $4.2M | $1.0M | $1.0M | $1.0M | $447,413 | — |
| Gross profit | −$2.8M | −$1.0M | −$1.0M | −$1.0M | −$372,413 | — |
| Research & development | $1.3M | $2.3M | $6.7M | $20,887 | — | — |
| Sales, general & admin | — | $60 | $60 | — | — | — |
| Total operating expenses | $10.2M | $9.0M | $20.5M | $33.2M | $13.7M | $68,430 |
| Operating income | −$13.0M | −$10.1M | −$21.5M | −$34.2M | −$14.0M | −$68,430 |
| Interest expense | $642,379 | $462,305 | $107,685 | $218,412 | $187,133 | — |
| Income before taxes | −$12.3M | −$10.9M | −$21.3M | −$37.6M | −$13.4M | −$17.3M |
| Net income | −$11.9M | −$10.7M | −$21.3M | −$37.6M | −$13.4M | −$17.3M |
| EBITDA | −$10.4M | −$9.4M | −$20.2M | −$36.4M | −$12.8M | −$68,430 |
| EPS (diluted) | −$2.80 | −$5.65 | −$17.75 | $1.94 | $32.49 | −$36.86 |
| Gross margin | −207.8% | — | — | — | −496.6% | — |
| Operating margin | −956.9% | — | — | — | −18,727.9% | — |
| Net margin | −874.3% | — | — | — | −17,932.4% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M | $113,771 | $862,049 | $237,441 | $200,681 | $62,874 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $10.8M | $2.2M | $987,564 | $891,588 | $956,726 | $1.4M | $259,982 | $278,229 | $250,211 | $250,211 | $250,309 | $250,309 |
| Gross profit | −$9.2M | −$2.1M | −$125,514 | −$654,147 | −$756,045 | −$1.3M | −$259,982 | −$278,229 | −$250,211 | −$250,211 | −$250,309 | −$250,309 |
| Research & development | — | $235,529 | $312,903 | $587,279 | $290,309 | $86,659 | $343,878 | $811,784 | $398,817 | $777,069 | $1.0M | $5.1M |
| Sales, general & admin | $11.5M | $3.5M | — | — | — | $3.7M | — | — | — | — | — | — |
| Total operating expenses | $4.2M | $1.9M | $1.9M | $1.8M | $3.8M | $2.8M | $1.9M | $1.9M | $2.6M | $2.7M | $3.1M | $7.7M |
| Operating income | −$13.4M | −$3.9M | −$2.0M | −$2.5M | −$4.5M | −$4.1M | −$2.2M | −$2.1M | −$2.8M | −$2.9M | −$3.4M | −$7.9M |
| Interest expense | $226 | $5,257 | $440,490 | $62,610 | $67,788 | $71,491 | $78,629 | $50,926 | $66,056 | $200,505 | $13,832 | $19,800 |
| Income before taxes | −$13.8M | −$4.0M | −$1.6M | −$2.9M | −$4.3M | −$3.4M | −$3.0M | −$1.8M | −$3.0M | −$3.0M | −$3.8M | −$6.4M |
| Net income | −$13.7M | −$3.9M | −$1.6M | −$2.7M | −$3.5M | −$3.1M | −$3.0M | −$1.8M | −$3.0M | −$3.0M | −$3.8M | −$6.4M |
| EBITDA | −$12.1M | −$3.7M | −$876,404 | −$2.5M | −$4.0M | −$3.0M | −$2.7M | −$1.5M | −$2.7M | −$2.6M | −$3.5M | −$6.1M |
| EPS (diluted) | −$0.28 | −$0.65 | −$0.27 | −$0.58 | −$0.95 | −$0.99 | −$1.42 | −$0.92 | −$1.62 | −$1.69 | −$2.13 | −$4.77 |
| Gross margin | −580.5% | −1,802.3% | −14.6% | −275.5% | −376.7% | −2,062.6% | — | — | — | — | — | — |
| Operating margin | −847.1% | −3,440.8% | −230.6% | −1,043.2% | −2,252.9% | −6,452.6% | — | — | — | — | — | — |
| Net margin | −866.6% | −3,442.5% | −183.0% | −1,153.7% | −1,761.3% | −4,863.3% | — | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ZSQR's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ZSQR financial results
In fiscal year 2025 (ended December 31, 2025), Z Squared reported revenue of $1.4 million. It had a net loss of $11.9 million, a net profit margin of −874.3%. Diluted earnings per share came to −$2.80.
See the ZSQR stock overview for the latest quote and news, or the ZSQR chart for price history and technical indicators.
ZSQR income statement FAQ
What is Z Squared's annual revenue?
Z Squared reported total revenue of $1.4 million for fiscal year 2025, which ended on December 31, 2025.
Is Z Squared profitable?
No. Z Squared reported a net loss of $11.9 million in fiscal 2025, a net profit margin of −874.3%; its operating margin was −956.9%.
What is Z Squared's gross margin?
Z Squared's gross margin was −207.8% in fiscal 2025: for every $100 of revenue, Z Squared kept $-208 after the direct cost of its products and services.
How much does Z Squared spend on research and development?
Z Squared spent $1.3 million on research and development in fiscal 2025, 93.7% of revenue.
What are Z Squared's earnings per share?
Z Squared earned $-2.80 per diluted share in fiscal 2025, compared with $-5.65 a year earlier.
When will Z Squared report its next earnings?
Z Squared is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Z Squared's fiscal year end?
Z Squared's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.