# Netcapital Inc.: financial statements, quarterly

NCPL · Nasdaq · CIK 1414767 · [Financials](/sectors/financials.md) · fiscal year ends Apr 30

Pages: [Overview](/companies/ncpl.md) · [Financials](/companies/ncpl/financials.md) · [Filings](/companies/ncpl/filings.md) · [Insiders](/companies/ncpl/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/ncpl/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-04-30) | Q1 FY2024 (2023-07-31) | Q2 FY2024 (2023-10-31) | Q3 FY2024 (2024-01-31) | Q4 FY2024 (2024-04-30) | Q1 FY2025 (2024-07-31) | Q2 FY2025 (2024-10-31) | Q3 FY2025 (2025-01-31) | Q4 FY2025 (2025-04-30) | Q1 FY2026 (2025-07-31) | Q2 FY2026 (2025-10-31) | Q3 FY2026 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3.1 d](/filings/0001493152-24-029454.md) | [1.5](/filings/0001493152-24-036373.md) | [2.0](/filings/0001493152-24-050235.md) | [1.0](/filings/0001493152-25-010560.md) | [0.3 d](/filings/0001641172-25-023248.md) | [0.1](/filings/0001493152-25-014479.md) | [0.2](/filings/0001493152-25-027769.md) | [0.2](/filings/0001493152-26-011686.md) | [0.4 d](/filings/0001641172-25-023248.md) | [0.2](/filings/0001493152-25-014479.md) | [0.1](/filings/0001493152-25-027769.md) | [0.1](/filings/0001493152-26-011686.md) |
| Cost of revenue | $m | [0.0 d](/filings/0001493152-24-029454.md) | [0.0](/filings/0001493152-24-036373.md) | [0.0](/filings/0001493152-24-050235.md) | [0.1](/filings/0001493152-25-010560.md) | [0.0 d](/filings/0001641172-25-023248.md) | [0.0](/filings/0001493152-25-014479.md) | [0.0](/filings/0001493152-25-027769.md) | [0.0](/filings/0001493152-26-011686.md) | [0.0 d](/filings/0001641172-25-023248.md) | [0.0](/filings/0001493152-25-014479.md) | [0.0](/filings/0001493152-25-027769.md) | [0.0](/filings/0001493152-26-011686.md) |
| Gross profit | $m | [3.1 d](/filings/0001493152-24-029454.md) | [1.5](/filings/0001493152-24-036373.md) | [2.0](/filings/0001493152-24-050235.md) | [1.0](/filings/0001493152-25-010560.md) | [0.3 d](/filings/0001641172-25-023248.md) | [0.1](/filings/0001493152-25-014479.md) | [0.2](/filings/0001493152-25-027769.md) | [0.1](/filings/0001493152-26-011686.md) | [0.4 d](/filings/0001641172-25-023248.md) | [0.2](/filings/0001493152-25-014479.md) | [0.0](/filings/0001493152-25-027769.md) | [0.1](/filings/0001493152-26-011686.md) |
| Selling, general and administrative | $m | [0.5 d](/filings/0001493152-24-029454.md) | [0.8](/filings/0001493152-24-036373.md) | [0.6](/filings/0001493152-24-050235.md) | [1.1](/filings/0001493152-24-010353.md) | [0.9 d](/filings/0001493152-24-029454.md) | [1.4](/filings/0001493152-24-036373.md) | [1.5](/filings/0001493152-24-050235.md) | not reported | not reported | not reported | not reported | not reported |
| Operating income | $m | [1.4 d](/filings/0001493152-24-029454.md) | [(0.7)](/filings/0001493152-24-036373.md) | [0.1](/filings/0001493152-24-050235.md) | [(1.2)](/filings/0001493152-25-010560.md) | [(1.5) d](/filings/0001641172-25-023248.md) | [(2.5)](/filings/0001493152-25-014479.md) | [(2.2)](/filings/0001493152-25-027769.md) | [(1.7)](/filings/0001493152-26-011686.md) | [(1.9) d](/filings/0001641172-25-023248.md) | [(3.3)](/filings/0001493152-25-014479.md) | [(2.1)](/filings/0001493152-25-027769.md) | [(2.2)](/filings/0001493152-26-011686.md) |
| Interest expense | $m | [0.0 d](/filings/0001903596-23-000560.md) | [0.0](/filings/0001903596-23-000722.md) | [0.0](/filings/0001493152-23-044856.md) | [0.0](/filings/0001493152-24-010353.md) | [0.0 d](/filings/0001641172-25-023248.md) | [0.0](/filings/0001493152-25-014479.md) | [0.0](/filings/0001493152-25-027769.md) | [0.0](/filings/0001493152-26-011686.md) | [0.0 d](/filings/0001641172-25-023248.md) | [0.0](/filings/0001493152-25-014479.md) | [0.0](/filings/0001493152-25-027769.md) | [0.0](/filings/0001493152-26-011686.md) |
| Income tax | $m | [0.4 d](/filings/0001493152-24-029454.md) | [(0.3)](/filings/0001493152-24-036373.md) | [(0.3)](/filings/0001493152-24-050235.md) | [(1.7)](/filings/0001493152-25-010560.md) | [0.0 d](/filings/0001641172-25-023248.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net income | $m | [1.0](/filings/0001493152-24-029454.md) | [(0.5)](/filings/0001493152-24-036373.md) | [0.3](/filings/0001493152-24-050235.md) | [(2.2)](/filings/0001493152-25-010560.md) | [(2.6)](/filings/0001493152-24-029454.md) | [(2.5)](/filings/0001493152-25-014479.md) | [(2.2)](/filings/0001493152-25-027769.md) | [(3.0)](/filings/0001493152-26-011686.md) | [(20.5) d](/filings/0001641172-25-023248.md) | [(3.6)](/filings/0001493152-25-014479.md) | [(2.1)](/filings/0001493152-25-027769.md) | [(1.8)](/filings/0001493152-26-011686.md) |
| Diluted EPS | $ per share | not reported | [(4.61)](/filings/0001493152-24-036373.md) | [2.52](/filings/0001493152-24-050235.md) | [(13.60)](/filings/0001493152-25-010560.md) | not reported | [(5.10)](/filings/0001493152-25-014479.md) | [(2.34)](/filings/0001493152-25-027769.md) | [(1.57)](/filings/0001493152-26-011686.md) | not reported | [(1.27)](/filings/0001493152-25-014479.md) | [(0.44)](/filings/0001493152-25-027769.md) | [(0.32)](/filings/0001493152-26-011686.md) |
| Basic EPS | $ per share | not reported | [(4.61)](/filings/0001493152-24-036373.md) | [2.52](/filings/0001493152-24-050235.md) | [(13.60)](/filings/0001493152-25-010560.md) | not reported | [(5.10)](/filings/0001493152-25-014479.md) | [(2.34)](/filings/0001493152-25-027769.md) | [(1.57)](/filings/0001493152-26-011686.md) | not reported | [(1.27)](/filings/0001493152-25-014479.md) | [(0.44)](/filings/0001493152-25-027769.md) | [(0.32)](/filings/0001493152-26-011686.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-04-30) | Q1 FY2024 (2023-07-31) | Q2 FY2024 (2023-10-31) | Q3 FY2024 (2024-01-31) | FY2024 (2024-04-30) | Q1 FY2025 (2024-07-31) | Q2 FY2025 (2024-10-31) | Q3 FY2025 (2025-01-31) | FY2025 (2025-04-30) | Q1 FY2026 (2025-07-31) | Q2 FY2026 (2025-10-31) | Q3 FY2026 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Current assets | $m | [2.5](/filings/0001493152-24-029454.md) | [2.8](/filings/0001903596-23-000722.md) | [3.9](/filings/0001493152-23-044856.md) | [6.1](/filings/0001493152-24-010353.md) | [1.0](/filings/0001641172-25-023248.md) | [0.9](/filings/0001493152-24-036373.md) | [1.4](/filings/0001493152-24-050235.md) | [0.7](/filings/0001493152-25-010560.md) | [0.4](/filings/0001493152-26-011686.md) | [5.0](/filings/0001493152-25-014479.md) | [2.0](/filings/0001493152-25-027769.md) | [1.0](/filings/0001493152-26-011686.md) |
| Total assets | $m | [41.8](/filings/0001493152-24-029454.md) | [43.4](/filings/0001903596-23-000722.md) | [44.7](/filings/0001493152-23-044856.md) | [44.1](/filings/0001493152-24-010353.md) | [41.6](/filings/0001641172-25-023248.md) | [41.4](/filings/0001493152-24-036373.md) | [41.9](/filings/0001493152-24-050235.md) | [39.9](/filings/0001493152-25-010560.md) | [20.9](/filings/0001493152-26-011686.md) | [28.4](/filings/0001493152-25-014479.md) | [25.4](/filings/0001493152-25-027769.md) | [26.1](/filings/0001493152-26-011686.md) |
| Current liabilities | $m | [5.2](/filings/0001493152-24-029454.md) | [4.5](/filings/0001903596-23-000722.md) | [5.1](/filings/0001493152-23-044856.md) | [3.3](/filings/0001493152-24-010353.md) | [3.1](/filings/0001641172-25-023248.md) | [3.4](/filings/0001493152-24-036373.md) | [4.0](/filings/0001493152-24-050235.md) | [4.4](/filings/0001493152-25-010560.md) | [5.5](/filings/0001493152-26-011686.md) | [4.8](/filings/0001493152-25-014479.md) | [3.5](/filings/0001493152-25-027769.md) | [4.0](/filings/0001493152-26-011686.md) |
| Total liabilities | $m | [5.7](/filings/0001493152-24-029454.md) | [5.0](/filings/0001903596-23-000722.md) | [5.6](/filings/0001493152-23-044856.md) | [3.8](/filings/0001493152-24-010353.md) | [3.6](/filings/0001641172-25-023248.md) | [3.9](/filings/0001493152-24-036373.md) | [4.5](/filings/0001493152-24-050235.md) | [4.9](/filings/0001493152-25-010560.md) | [6.0](/filings/0001493152-26-011686.md) | [5.3](/filings/0001493152-25-014479.md) | [4.0](/filings/0001493152-25-027769.md) | [4.5](/filings/0001493152-26-011686.md) |
| Long-term debt | $m | [0.5](/filings/0001493152-24-029454.md) | [0.5](/filings/0001903596-23-000722.md) | [0.5](/filings/0001493152-23-044856.md) | [0.5](/filings/0001493152-24-010353.md) | [0.5](/filings/0001641172-25-023248.md) | [0.5](/filings/0001493152-24-036373.md) | [0.5](/filings/0001493152-24-050235.md) | [0.5](/filings/0001493152-25-010560.md) | [0.5](/filings/0001493152-26-011686.md) | [0.5](/filings/0001493152-25-014479.md) | [0.5](/filings/0001493152-25-027769.md) | [0.5](/filings/0001493152-26-011686.md) |
| Current portion of debt | $m | [2.3](/filings/0001493152-24-029454.md) | [1.9](/filings/0001903596-23-000722.md) | [1.9](/filings/0001493152-23-044856.md) | [1.9](/filings/0001493152-24-010353.md) | [1.9](/filings/0001641172-25-023248.md) | [1.9](/filings/0001493152-24-036373.md) | [1.9](/filings/0001493152-24-050235.md) | [1.9](/filings/0001493152-25-010560.md) | [2.2](/filings/0001493152-26-011686.md) | [2.5](/filings/0001493152-25-014479.md) | [1.9](/filings/0001493152-25-027769.md) | [1.9](/filings/0001493152-26-011686.md) |
| Short-term borrowings | $m | [1.9](/filings/0001493152-24-029454.md) | not reported | [1.9](/filings/0001493152-23-044856.md) | [1.9](/filings/0001493152-24-010353.md) | [1.9](/filings/0001641172-25-023248.md) | [1.9](/filings/0001493152-24-036373.md) | [1.9](/filings/0001493152-24-050235.md) | [1.9](/filings/0001493152-25-010560.md) | [1.9](/filings/0001493152-26-011686.md) | [1.9](/filings/0001493152-25-014479.md) | [1.9](/filings/0001493152-25-027769.md) | [1.9](/filings/0001493152-26-011686.md) |
| Shareholders' equity | $m | [36.2](/filings/0001641172-25-023248.md) | [38.5](/filings/0001493152-24-029454.md) | [39.1](/filings/0001493152-24-029454.md) | [40.3](/filings/0001493152-24-029454.md) | [37.9](/filings/0001493152-26-011686.md) | [37.5](/filings/0001493152-25-014479.md) | [37.4](/filings/0001493152-26-011686.md) | [35.0](/filings/0001493152-26-011686.md) | [14.9](/filings/0001493152-26-011686.md) | [23.1](/filings/0001493152-25-014479.md) | [21.4](/filings/0001493152-26-011686.md) | [21.6](/filings/0001493152-26-011686.md) |

- Cash and equivalents: not reported
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Short-term borrowings: us-gaap:ShortTermBorrowings
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-04-30) | Q1 FY2024 (2023-07-31) | Q2 FY2024 (2023-10-31) | Q3 FY2024 (2024-01-31) | Q4 FY2024 (2024-04-30) | Q1 FY2025 (2024-07-31) | Q2 FY2025 (2024-10-31) | Q3 FY2025 (2025-01-31) | Q4 FY2025 (2025-04-30) | Q1 FY2026 (2025-07-31) | Q2 FY2026 (2025-10-31) | Q3 FY2026 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $k | [(1,202) d](/filings/0001493152-24-029454.md) | [(1,464)](/filings/0001493152-24-036373.md) | [(482) d](/filings/0001493152-24-050235.md) | [(1,620) d](/filings/0001493152-25-010560.md) | [(1,314) d](/filings/0001641172-25-023248.md) | [(1,964)](/filings/0001493152-25-014479.md) | [(1,487) d](/filings/0001493152-25-027769.md) | [(1,164) d](/filings/0001493152-26-011686.md) | [(725) d](/filings/0001641172-25-023248.md) | [(4,214)](/filings/0001493152-25-014479.md) | [(2,578) d](/filings/0001493152-25-027769.md) | [(869) d](/filings/0001493152-26-011686.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities

## Shares

| Line item | Unit | Q1 FY2023 (2022-07-31) | Q2 FY2023 (2022-10-31) | Q3 FY2023 (2023-01-31) | Q1 FY2024 (2023-07-31) | Q2 FY2024 (2023-10-31) | Q3 FY2024 (2024-01-31) | Q1 FY2025 (2024-07-31) | Q2 FY2025 (2024-10-31) | Q3 FY2025 (2025-01-31) | Q1 FY2026 (2025-07-31) | Q2 FY2026 (2025-10-31) | Q3 FY2026 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | thousands of shares | [3,171](/filings/0001903596-23-000722.md) | [4,290](/filings/0001493152-23-044856.md) | [5,167](/filings/0001493152-24-010353.md) | [107](/filings/0001493152-24-036373.md) | [135](/filings/0001493152-24-050235.md) | [164](/filings/0001493152-25-010560.md) | [495](/filings/0001493152-25-014479.md) | [947](/filings/0001493152-25-027769.md) | [1,915](/filings/0001493152-26-011686.md) | [2,873](/filings/0001493152-25-014479.md) | [4,810](/filings/0001493152-25-027769.md) | [5,612](/filings/0001493152-26-011686.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 7,847,899 at 2026-03-19, from the cover of the [10-Q filed 2026-03-19](/filings/0001493152-26-011686.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:39 ET. No prices; not investment advice.