CAPS Capstone Holding Corp.

Overview and Growth

Capstone Holding Corp. generated $46.88M of revenue in fiscal 2025, with net loss of $21.23M and an operating cash outflow of $4.41M. Revenue of $46.88M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 4.5% from $44.88M in fiscal 2024, increasing the company’s operating scale. The company employed $51.38M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.91x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $10.79M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 23.0% of revenue, quantifying the portion retained before operating expenses were recognized. The company recorded an operating loss of $10.99M after the reported operating expense base. The operating loss equaled 23.4% of revenue, showing the scale of the operating deficit relative to sales. The company ended the period with a net loss of $21.23M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 45.3% after all recognized items. Before income taxes, the company recorded a loss of $14.05M, bridging the operating result to the final net loss. The pretax loss equaled 30.0% of revenue, measuring the pre-tax deficit against sales. Income tax expense totaled $7.18M, providing the reported tax component that separates pretax and after-tax earnings. The net loss equaled 170.5% of period-end equity, showing the deficit relative to book capital. The net loss equaled 41.3% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $2.56M in fiscal 2024 to $21.23M.

Liquidity and Capital Structure

Total assets were $51.38M, supported by $38.92M of liabilities and $12.45M of shareholder equity. Current assets were $23.00M against $22.92M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 1.0x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $727.00K in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 3.2% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $13.05M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 1.05x, showing how much debt the company carried for each unit of book equity. Debt represented 25.4% of total assets, placing borrowing in the context of the company’s full resource base. Equity equaled 24.2% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 75.8%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 1.4% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $47.22M in fiscal 2024, the current asset base moved 8.8% and finished higher. Reported equity changed 53.1% from $26.56M in fiscal 2024, placing the current capital base lower year over year.

Cash Flow and Earnings Quality

Operating activities used $4.41M of cash, resulting in an operating cash outflow for the year. The company spent $122.00K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $4.53M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 9.7% of revenue, showing the post-investment cash shortfall relative to sales. The cash deficit after capital spending represented 8.8% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.