RTB RTB Digital, Inc.

Overview and Growth

RTB Digital, Inc. generated $11.13M of revenue in fiscal 2025, with net loss of $17.53M and an operating cash outflow of $23.04M. The $11.13M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 38.7% below fiscal 2024 revenue of $18.16M, marking a top-line contraction. On a per-share basis, diluted EPS was -$29.33, which connects the reported earnings outcome with the company’s diluted share count. Diluted shares averaged 597.47K; this is the reported share base over which the company’s diluted per-share earnings were spread. At period end, total assets were $13.10M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.85x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $5.31M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 47.7% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $13.15M, reflecting costs that exceeded gross profit. The operating loss equaled 118.1% of revenue, showing the scale of the operating deficit relative to sales. The bottom-line result was a net loss of $17.53M after operating, financing, tax, and other recognized items. Measured against revenue, the bottom-line deficit represented 157.5% after all recognized items. EBITDA was negative $12.75M, showing a deficit before interest, taxes, depreciation, and amortization. Before income taxes, the company recorded a loss of $15.74M, bridging the operating result to the final net loss. Pretax margin was -141.4%, reflecting a pre-tax loss equal to 141.4% of revenue. The company recognized $318.00K of income tax for the period, completing the transition from pretax income to net income. Relative to total assets, the net loss represented 133.8%. The net loss narrowed to $17.53M from $26.82M in fiscal 2024.

Liquidity and Capital Structure

The company held $13.10M of assets against $12.43M of liabilities and $668.00K of equity, revealing how the asset base was financed. At period end, current assets of $11.14M compared with current liabilities of $10.01M, defining the company’s short-term resource position. The current ratio was 1.11x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $7.42M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 74.2% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 5.1%, placing book capital against the total resource base. Relative to total assets, liabilities measured 94.9%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 56.7%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 89.3% from $122.28M in fiscal 2024, leaving current total assets lower year over year. The reported cash balance changed 185.7% from $2.60M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $23.04M, rather than cash generation from operations. Capital spending of $79.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Negative free cash flow was $23.12M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 207.7% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 176.5% of total assets, placing the cash shortfall against the company’s resource base. Operating cash flow moved from a $21.19M inflow in fiscal 2024 to a $23.04M outflow.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 26, 2026.