DRKNasdaqFinance ServicesFiscal year ends December 31
DarkHorse Technologies Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$2.03−0.02 (-0.98%)
Close on Oct 19, 2026
- Market cap
- $10.49M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
23.5%−22.9 pts over 5 years
Operating margin
-196.8%−73.7 pts over 5 years
Net margin
-192.1%−72.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -32.7% | +22.5% | +18.2% | -17.5% | |
| Gross profit | -18.7% | -0.4% | +3.2% | -19.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -154.6% | -185.0% | -68.6% | |
| Return on assets | -59.1% | -57.1% | -62.9% | |
| Current ratio | 0.71 | 0.36 | 4.82 | |
| Interest coverage | -32.2× | -21.8× | – | |
| Inventory turnover | 5.1× | 4.0× | – | |
| Capex to revenue | 0.3% | 0.0% | 67.1% | |
| Diluted shares | 0M | 0M | 3M |
Where the cash went
Fiscal 2021 to 2025, five years combined
DarkHorse Technologies generated $86.57M from operations and spent $137.87M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$86.57M
Used
$137.87M
Capital expenditure$137.87M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-192.1%
×Asset turnover0.33×
×Equity multiplier1.09×
=Return on equity, FY2025-68.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -192.1% | 0.33× | 1.09× | -68.6% |
| FY2024 | -57.0% | 0.37× | 1.35× | -28.8% |
| FY2022 | -3172.6% | 0.03× | 1.37× | -147.1% |
| FY2021 | -464.8% | 0.03× | 1.24× | -14.9% |
| FY2020 | -119.2% | 0.48× | 3.24× | -185.0% |
| FY2019 | -76.7% | 0.57× | -4.51× | 196.1% |
| FY2018 | -290.2% | 0.19× | 19.47× | -1079.4% |
| FY2017 | -207.8% | 0.14× | 5.69× | -169.4% |
| FY2016 | -89.6% | 0.66× | 2.62× | -154.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$21.48M
- Cash generatingOperating cash flow above zero-$16.12M
- Return on assets improvedROA up on the prior year-20.7% → -49.7%
- Earnings backed by cashOperating cash flow above net income-$16.12M vs -$21.48M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.57 → 4.82
- No dilutionShare count did not rise2M → 3M
- Gross margin improvedGross margin up on the prior year19.45% → 23.50%
- More efficientAsset turnover rose0.36 → 0.26