Cash flow Spectral Medical Inc.

Equities

EDT

CA8475771033

Pharmaceuticals

Market Closed - Toronto S.E. Other stock markets 01:29:59 18/04/2026 am IST			5-day change	1st Jan Change
1.390 ^CAD	+0.72%		-0.71%	-3.47%

26/03	Spectral Medical Inc. Reports Earnings Results for the Full Year Ended December 31, 2025	CI
26/03	Earnings Flash (EDT.TO) Spectral Medical Reports Q4 Revenue C$0.4M, Loss From Continuing Ops of $2,838,000	MT

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Published financial data: SPECTRAL MEDICAL INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	20.52L	16.67L	15.98L	22.86L	24.42L
Total Revenues	20.52L	16.67L	15.98L	22.86L	24.42L
Cost of Goods Sold, Total	8L	7L	9L	12.68L	11.16L
Gross Profit	12.2L	10L	7L	10.18L	13.26L
Selling General & Admin Expenses, Total	95.89L	74.41L	98.04L	1.04Cr	99.35L
Stock-Based Compensation (IS)	-	11.97L	14.88L	16.75L	21.19L
R&D Expenses	-	-	-	-	-
Depreciation & Amortization - (IS)	3L	2L	2L	3L	2L
Other Operating Expenses	93T	-	-	7L	3L
Other Operating Expenses, Total	99.76L	88.63L	1.15Cr	1.31Cr	1.25Cr
Operating Income	-87.56L	-78.8L	-1.08Cr	-1.21Cr	-1.12Cr
Interest Expense, Total	-28T	-1L	-13.34L	-31.77L	-51.64L
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-28T	-1L	-13.34L	-31.77L	-51.64L
Income (Loss) On Equity Invest.	-	10L	-4L	-	-
Currency Exchange Gains (Loss)	-58T	-49T	1L	-19.33L	20.56L
Other Non Operating Income (Expenses)	-6L	-6L	-24.61L	17.9L	-3.34Cr
EBT, Excl. Unusual Items	-94.54L	-75.97L	-1.49Cr	-1.54Cr	-4.77Cr
Gain (Loss) On Sale Of Investments	-	-	-6L	-	-
Gain (Loss) On Sale Of Assets	83T	-	-	-	-
Asset Writedown	-2L	-	-	-	-
Other Unusual Items	8L	-	-	-	-
EBT, Incl. Unusual Items	-87.85L	-75.97L	-1.55Cr	-1.54Cr	-4.77Cr
Earnings From Continuing Operations	-87.85L	-75.97L	-1.55Cr	-1.54Cr	-4.77Cr
Earnings Of Discontinued Operations	-	-36.53L	-2L	-7T	-3T
Net Income to Company	-87.85L	-1.12Cr	-1.57Cr	-1.54Cr	-4.77Cr
Net Income - (IS)	-87.85L	-1.12Cr	-1.57Cr	-1.54Cr	-4.77Cr
Net Income to Common Incl Extra Items	-87.85L	-1.12Cr	-1.57Cr	-1.54Cr	-4.77Cr
Net Income to Common Excl. Extra Items	-87.85L	-75.97L	-1.55Cr	-1.54Cr	-4.77Cr
Per Share Items
Net EPS - Basic	-0.03	-0.04	-0.06	-0.05	-0.17
Basic EPS - Continuing Operations	-0.03	-0.03	-0.06	-0.05	-0.17
Basic Weighted Average Shares Outstanding	25Cr	27Cr	28Cr	28Cr	29Cr
Net EPS - Diluted	-0.03	-0.04	-0.06	-0.05	-0.17
Diluted EPS - Continuing Operations	-0.03	-0.03	-0.06	-0.05	-0.17
Diluted Weighted Average Shares Outstanding	25Cr	27Cr	28Cr	28Cr	29Cr
Normalized Basic EPS	-0.02	-0.02	-0.03	-0.03	-0.1
Normalized Diluted EPS	-0.02	-0.02	-0.03	-0.03	-0.1
Supplemental Items
EBITDA	-85.55L	-77.02L	-1.07Cr	-1.19Cr	-1.1Cr
EBITA	-87.38L	-78.63L	-1.08Cr	-1.21Cr	-1.11Cr
EBIT	-87.56L	-78.8L	-1.08Cr	-1.21Cr	-1.12Cr
EBITDAR	-81.43L	-73.12L	-1.03Cr	-1.15Cr	-1.08Cr
Normalized Net Income	-59.09L	-47.48L	-93.17L	-96.22L	-2.98Cr
Interest on Long-Term Debt	28T	25T	25T	32T	26T
Supplemental Operating Expense Items
General and Administrative Expenses	27.07L	26.53L	48.25L	49.37L	47.67L
Research And Development Expense From Footnotes	-	-	46.76L	39.73L	43.34L
Net Rental Expense, Total	4L	4L	5L	5L	3L
Imputed Operating Lease Interest Expense	1L	89.79T	8L	10.02L	6L
Imputed Operating Lease Depreciation	3L	3L	-3L	-5L	-4L
Stock-Based Comp., G&A Exp. (Total)	70T	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	11.9L	11.97L	-	-	-
Stock-Based Comp., Other (Total)	-	11.97L	14.88L	16.75L	21.19L
Total Stock-Based Compensation	12.6L	23.94L	14.88L	16.75L	21.19L

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	88.9L	84.14L	29.52L	29.88L	40.71L
Short Term Investments	7L	2L	6L	6L	6L
Total Cash And Short Term Investments	96.07L	86.55L	35.6L	35.74L	46.57L
Accounts Receivable, Total	1L	9L	51T	3L	2L
Other Receivables	1L	2L	1L	2L	-
Total Receivables	2L	10.56L	2L	5L	2L
Inventory	3L	3L	4L	2L	4L
Prepaid Expenses	2L	35T	13T	2L	54T
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	1.03Cr	1.01Cr	41.25L	44.58L	52.93L
Gross Property Plant And Equipment	42.34L	38.39L	42.31L	42.55L	42.56L
Accumulated Depreciation	-31.7L	-31.38L	-33.38L	-35.68L	-37.82L
Net Property Plant And Equipment	10.64L	7L	9L	7L	5L
Long-term Investments	-	10L	-	-	-
Other Intangibles, Total	2L	2L	2L	2L	3L
Total Assets	1.16Cr	1.2Cr	52.11L	53.2L	61L
Liabilities
Accounts Payable, Total	4L	16.5L	15.96L	10L	13.38L
Accrued Expenses, Total	10.78L	15.17L	12.24L	17.79L	11.46L
Current Portion of Long-Term Debt	-	-	3L	1.44Cr	1.64Cr
Current Portion of Leases	92T	96T	1L	1L	1L
Unearned Revenue Current, Total	7L	7L	7L	4L	7L
Other Current Liabilities	-	-	63.1L	97.42L	4.65Cr
Total Current Liabilities	23.03L	39.59L	1.02Cr	2.74Cr	6.63Cr
Long-Term Debt	-	61.29L	76.76L	-	47.55L
Long-Term Leases	5L	4L	5L	4L	2L
Unearned Revenue Non Current	46.79L	40.11L	33.42L	50.49L	45.64L
Total Liabilities	74.72L	1.45Cr	2.18Cr	3.29Cr	7.58Cr
Common Stock, Total	8.44Cr	8.7Cr	8.71Cr	9.06Cr	9.59Cr
Additional Paid In Capital	79.85L	87.73L	89.16L	1.01Cr	1.02Cr
Retained Earnings	-9.85Cr	-11Cr	-13Cr	-14Cr	-19Cr
Comprehensive Income and Other	1.02Cr	1.14Cr	1.29Cr	1.26Cr	1.27Cr
Total Common Equity	40.83L	-25.23L	-1.65Cr	-2.75Cr	-6.97Cr
Total Equity	40.83L	-25.23L	-1.65Cr	-2.75Cr	-6.97Cr
Total Liabilities And Equity	1.16Cr	1.2Cr	52.11L	53.2L	61L
Supplemental Items
ECS Total Shares Outstanding on Filing Date	27Cr	28Cr	28Cr	29Cr	29Cr
ECS Total Common Shares Outstanding	27Cr	28Cr	28Cr	28Cr	29Cr
Book Value / Share	0.02	-0.01	-0.06	-0.1	-0.24
Tangible Book Value	38.55L	-27.34L	-1.67Cr	-2.77Cr	-7.01Cr
Tangible Book Value Per Share	0.01	-0.01	-0.06	-0.1	-0.24
Total Debt	6L	66.45L	85.61L	1.49Cr	2.16Cr
Net Debt	-90.25L	-20.1L	50.01L	1.14Cr	1.69Cr
Debt Equivalent Oper. Leases	32.96L	31.2L	36.72L	37.04L	22.24L
Equity Method Investments, Total	-	10L	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	92T	1L	1L	1L	2L
Inventories - Work In Process, Total	3T	1T	9T	6T	6T
Inventories - Finished Goods, Total	2L	2L	2L	1L	2L
Machinery, Total	30.92L	26.61L	27.93L	28.17L	28.18L
Full Time Employees	31	32	29	29	29

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-87.85L	-1.12Cr	-1.57Cr	-1.54Cr	-4.77Cr
Depreciation & Amortization - CF	3L	3L	2L	2L	2L
Amortization of Goodwill and Intangible Assets - (CF)	18T	17T	18T	18T	37T
Depreciation & Amortization, Total	3L	3L	2L	3L	2L
(Gain) Loss From Sale Of Asset	-83T	2L	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	6L	-	-
Asset Writedown & Restructuring Costs	2L	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-10L	4L	-	-
Stock-Based Compensation (CF)	12.59L	11.97L	14.88L	16.75L	21.19L
Other Operating Activities, Total	2L	25T	26.43L	36.46L	3.6Cr
Change In Accounts Receivable	55T	-9L	9L	-3L	2L
Change In Inventories	-51T	-47T	-26T	1L	-1L
Change In Accounts Payable	-6L	16.45L	-3L	-51T	-3L
Change in Unearned Revenues	-7L	-7L	-6L	13.6L	-2L
Change in Other Net Operating Assets	-5L	6L	-3L	-2L	2L
Cash from Operations	-87.01L	-99.28L	-1.07Cr	-88.18L	-95.24L
Capital Expenditure	-5L	-33T	-2L	-27T	-2L
Sale of Property, Plant, and Equipment	2L	-	-	-	-
Cash from Investing	-3L	-33T	-2L	-27T	-2L
Short Term Debt Issued, Total	-	-	-	-	96.69L
Long-Term Debt Issued, Total	-	67.98L	40.58L	98.97L	-
Total Debt Issued	-	67.98L	40.58L	98.97L	96.69L
Long-Term Debt Repaid, Total	-1L	-91T	-1L	-2L	-2L
Total Debt Repaid	-1L	-91T	-1L	-2L	-2L
Issuance of Common Stock	1.34Cr	41.13L	-	11.52L	33.96L
Other Financing Activities, Total	-11.3L	-13.35L	15.13L	-20.15L	-21.08L
Cash from Financing	1.22Cr	94.85L	54.44L	88.81L	1.08Cr
Foreign Exchange Rate Adjustments	-56T	-	-	-	-
Net Change in Cash	30.83L	-5L	-54.62L	36T	10.83L
Supplemental Items
Cash Interest Paid	-	-	-	12.49L	19.01L
Levered Free Cash Flow	-49.16L	-14.8L	-18.22L	-49.18L	2.9Cr
Unlevered Free Cash Flow	-48.98L	-14.15L	-10L	-29.33L	3.22Cr
Change In Net Working Capital	5L	-9L	-42.66L	-27.15L	-3.71Cr
Net Debt Issued / Repaid	-1L	67.07L	39.31L	97.44L	95.14L

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-55.51	-41.82	-78.75	-143.33	-122.32
Return on Total Capital	-234.72	-112.1	209.75	73.24	22.98
Return On Equity %	-514.65	-973.97	162.35	69.83	98.06
Return on Common Equity	-514.65	-973.97	162.35	69.83	98.06
Margin Analysis
Gross Profit Margin %	59.45	58.97	41.43	44.53	54.3
SG&A Margin	467.3	446.37	613.52	455.95	406.84
EBITDA Margin %	-416.91	-462.03	-671.21	-522.62	-452.42
EBITA Margin %	-425.83	-471.69	-677.22	-527.43	-456.1
EBIT Margin %	-426.71	-472.71	-678.35	-528.22	-457.62
Income From Continuing Operations Margin %	-428.12	-455.73	-970.4	-673.45	-1.95T
Net Income Margin %	-428.12	-674.86	-980.1	-673.75	-1.95T
Net Avail. For Common Margin %	-428.12	-455.73	-970.4	-673.45	-1.95T
Normalized Net Income Margin	-287.95	-284.83	-583.03	-420.9	-1.22T
Levered Free Cash Flow Margin	-239.57	-88.78	-114	-215.16	1.19T
Unlevered Free Cash Flow Margin	-238.72	-84.88	-61.83	-128.3	1.32T
Asset Turnover
Asset Turnover	0.21	0.14	0.19	0.43	0.43
Fixed Assets Turnover	1.89	1.89	2.01	2.89	4.21
Receivables Turnover (Average Receivables)	13.32	3.44	3.49	13.03	9.67
Inventory Turnover (Average Inventory)	2.6	2.16	2.65	4.26	3.68
Short Term Liquidity
Current Ratio	4.46	2.55	0.4	0.16	0.08
Quick Ratio	4.26	2.45	0.37	0.15	0.07
Operating Cash Flow to Current Liabilities	-3.78	-2.51	-1.05	-0.32	-0.14
Days Sales Outstanding (Average Receivables)	27.39	106.08	104.5	28.1	37.74
Days Outstanding Inventory (Average Inventory)	140.6	168.89	137.65	85.87	99.1
Average Days Payable Outstanding	148.21	522.78	615.8	418.42	336.12
Cash Conversion Cycle (Average Days)	19.79	-247.81	-373.64	-304.45	-199.28
Long Term Solvency
Total Debt/Equity	14.25	-263.38	-51.73	-54.18	-30.92
Total Debt / Total Capital	12.48	161.21	-107.17	-118.26	-44.77
LT Debt/Equity	12	-259.57	-49.4	-1.35	-7.16
Long-Term Debt / Total Capital	10.5	158.88	-102.35	-2.94	-10.36
Total Liabilities / Total Assets	64.66	121.03	417.58	617.76	1.24T
EBIT / Interest Expense	-312.71	-75.77	-8.13	-3.8	-2.16
EBITDA / Interest Expense	-302.21	-73.15	-7.96	-3.72	-2.12
(EBITDA - Capex) / Interest Expense	-319.46	-73.47	-8.1	-3.73	-2.15
Total Debt / EBITDA	-0.07	-0.87	-0.81	-1.26	-1.97
Net Debt / EBITDA	1.07	0.26	-0.47	-0.96	-1.55
Total Debt / (EBITDA - Capex)	-0.07	-0.87	-0.79	-1.26	-1.94
Net Debt / (EBITDA - Capex)	1.01	0.26	-0.46	-0.96	-1.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-2.33	-16.48	-4.14	43.05	6.82
Gross Profit, 1 Yr. Growth %	-17.18	-18.56	-32.66	53.78	85.97
EBITDA, 1 Yr. Growth %	2.6	31.61	39.26	8.21	-7.52
EBITA, 1 Yr. Growth %	2.43	30.29	37.63	8.26	-7.62
EBIT, 1 Yr. Growth %	2.43	30.18	37.56	8.25	-7.45
Earnings From Cont. Operations, 1 Yr. Growth %	-3.44	9.17	103.29	-0.72	209.77
Net Income, 1 Yr. Growth %	-3.44	28.06	38.84	-1.66	209.65
Normalized Net Income, 1 Yr. Growth %	3.73	11.26	99.8	3.27	209.77
Diluted EPS Before Extra, 1 Yr. Growth %	-11.08	2.14	96.93	-1.61	203.17
Accounts Receivable, 1 Yr. Growth %	-48.28	722.86	-94.1	488.24	-31.67
Inventory, 1 Yr. Growth %	-15.8	16.04	7.65	-37.43	64.63
Net Property, Plant and Equip., 1 Yr. Growth %	-4.4	-34.12	27.39	-23.07	-31
Total Assets, 1 Yr. Growth %	41.55	3.82	-56.56	2.09	14.66
Tangible Book Value, 1 Yr. Growth %	-521.31	-170.92	505.5	65.57	152.72
Common Equity, 1 Yr. Growth %	-710.31	-161.79	547.96	66.45	153.12
Cash From Operations, 1 Yr. Growth %	2.59T	14.1	8.29	-17.75	8.01
Capital Expenditures, 1 Yr. Growth %	53.33	-93.17	460.61	-85.41	622.22
Levered Free Cash Flow, 1 Yr. Growth %	115	-24.82	1.32T	143.66	-689.94
Unlevered Free Cash Flow, 1 Yr. Growth %	116.13	-27.48	5.39T	147.53	-1.2T
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-15.41	-10.93	-10.52	17.1	23.62
Gross Profit, 2 Yr. CAGR %	-25.84	-18.31	-25.94	1.76	41.53
EBITDA, 2 Yr. CAGR %	46.15	-3.89	35.38	24.55	0.03
EBITA, 2 Yr. CAGR %	44.79	-3.99	33.91	23.83	0
EBIT, 2 Yr. CAGR %	44.58	-3.99	33.82	23.79	0.09
Earnings From Cont. Operations, 2 Yr. CAGR %	34.45	-8.62	49.28	42.06	75.37
Net Income, 2 Yr. CAGR %	34.45	11.2	33.52	16.85	74.5
Normalized Net Income, 2 Yr. CAGR %	39.57	-8.7	47.76	43.65	78.86
Diluted EPS Before Extra, 2 Yr. CAGR %	27.13	-15.18	42.11	39.2	72.71
Accounts Receivable, 2 Yr. CAGR %	-61.24	106.3	-30.31	-41.07	100.49
Inventory, 2 Yr. CAGR %	3.03	-1.16	11.77	-17.93	1.49
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.06	-20.64	-8.39	-1	-27.14
Total Assets, 2 Yr. CAGR %	69.84	21.23	-32.85	-33.41	8.19
Tangible Book Value, 2 Yr. CAGR %	38.94	72.86	108.4	216.63	104.56
Common Equity, 2 Yr. CAGR %	34.41	94.2	101.32	228.41	105.26
Cash From Operations, 2 Yr. CAGR %	78.27	453.55	11	-5.62	-5.75
Capital Expenditures, 2 Yr. CAGR %	73.21	-67.63	-38.11	-9.55	2.67
Levered Free Cash Flow, 2 Yr. CAGR %	137.76	-19.55	-3.8	519.89	279.13
Unlevered Free Cash Flow, 2 Yr. CAGR %	140.47	-20.99	-28.84	1.18T	421.66
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-18.85	-16.55	-8.72	4.63	13.57
Gross Profit, 3 Yr. CAGR %	-27.81	-23.76	-23.4	-5.52	10.49
EBITDA, 3 Yr. CAGR %	65.57	24.36	8.76	26.86	12.78
EBITA, 3 Yr. CAGR %	61.1	23.56	8.25	25.95	12.31
EBIT, 3 Yr. CAGR %	60.57	23.44	8.24	25.88	12.35
Earnings From Cont. Operations, 3 Yr. CAGR %	52.26	16.06	19.45	30.3	84.22
Net Income, 3 Yr. CAGR %	52.26	32.28	19.85	20.58	61.7
Normalized Net Income, 3 Yr. CAGR %	56.03	16.11	17.82	31.13	85.58
Diluted EPS Before Extra, 3 Yr. CAGR %	45.47	9.35	12.47	25.72	80.43
Accounts Receivable, 3 Yr. CAGR %	-59.05	7.32	-36.9	41.9	-38.09
Inventory, 3 Yr. CAGR %	14.15	7.2	1.7	-7.89	3.5
Net Property, Plant and Equip., 3 Yr. CAGR %	41.32	-13.6	-7.08	-13.57	-12.23
Total Assets, 3 Yr. CAGR %	18.31	44.14	-13.9	-22.78	-20.18
Tangible Book Value, 3 Yr. CAGR %	-14.12	11.04	163.51	93.01	193.71
Common Equity, 3 Yr. CAGR %	-13.78	3.74	191.37	88.95	201.1
Cash From Operations, 3 Yr. CAGR %	54.03	53.63	221.04	0.45	-1.28
Capital Expenditures, 3 Yr. CAGR %	117.41	-41.04	-16.26	-61.76	80.79
Levered Free Cash Flow, 3 Yr. CAGR %	63.3	19.39	-7.29	35.69	509.74
Unlevered Free Cash Flow, 3 Yr. CAGR %	63.11	18.65	-24.18	14.55	1.11T
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-10.36	-14.6	-16.08	-4.43	3.05
Gross Profit, 5 Yr. CAGR %	-14.72	-20.86	-27.23	-14.42	-2.08
EBITDA, 5 Yr. CAGR %	-1.11	18.32	41.59	24.43	5.79
EBITA, 5 Yr. CAGR %	-1.12	17.45	38.94	23.67	5.48
EBIT, 5 Yr. CAGR %	-1.14	17.34	38.66	23.58	5.51
Earnings From Cont. Operations, 5 Yr. CAGR %	-2.85	13.26	44.18	25.94	39.28
Net Income, 5 Yr. CAGR %	-2.85	22.51	44.47	25.95	39.28
Normalized Net Income, 5 Yr. CAGR %	-1.4	13.19	43.05	25.97	39.23
Diluted EPS Before Extra, 5 Yr. CAGR %	-6.84	7.45	37.55	20.53	33.52
Accounts Receivable, 5 Yr. CAGR %	-29.62	0.47	-49.34	-15.56	0.2
Inventory, 5 Yr. CAGR %	3.73	12.22	13.19	-3.66	1.61
Net Property, Plant and Equip., 5 Yr. CAGR %	10.91	4.22	18.82	-8.77	-15.69
Total Assets, 5 Yr. CAGR %	10.23	28.13	-5.67	5.84	-5.66
Tangible Book Value, 5 Yr. CAGR %	-6.82	1.41	22.43	69.23	138.12
Common Equity, 5 Yr. CAGR %	-6.85	-2.46	21.04	64.89	153.27
Cash From Operations, 5 Yr. CAGR %	-4.8	22.53	35.11	26.35	96.63
Capital Expenditures, 5 Yr. CAGR %	31.68	-24.55	31.53	-30.03	-9.15
Levered Free Cash Flow, 5 Yr. CAGR %	-6.26	-6.89	10.04	41.42	66.22
Unlevered Free Cash Flow, 5 Yr. CAGR %	-6.33	-7.73	-2.63	28.19	70.07