VSTD Vestand Inc.

Overview and Growth

Vestand Inc. generated $12.84M of revenue in fiscal 2024, with net loss of $2.67M and an operating cash inflow of $875.22K. The $12.84M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 39.3% above fiscal 2023 revenue of $9.21M, marking a year-over-year increase. On a per-share basis, diluted EPS was -$1.98, which connects the reported earnings outcome with the company’s diluted share count. Diluted shares averaged 1.35M; this is the reported share base over which the company’s diluted per-share earnings were spread. Compared with 1.33M diluted shares in fiscal 2023, the current 1.35M base was 1.3% higher. At period end, total assets were $17.57M, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.73x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was an operating loss of $2.56M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 19.9%, showing the shortfall after operating costs. The bottom-line result was a net loss of $2.67M after operating, financing, tax, and other recognized items. Measured against revenue, the bottom-line deficit represented 20.8% after all recognized items. The company reported negative EBITDA of $1.73M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The pretax result was a loss of $2.63M, establishing the deficit before tax effects. Pretax margin was -20.5%, reflecting a pre-tax loss equal to 20.5% of revenue. Income tax expense totaled $34.24K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-assets relationship was 15.2%, placing the bottom-line deficit against the company’s resource base. The net loss narrowed to $2.67M from $3.04M in fiscal 2023.

Liquidity and Capital Structure

Total assets were $17.57M, supported by $17.32M of liabilities and $255.40K of shareholder equity. At period end, current assets of $1.46M compared with current liabilities of $6.04M, defining the company’s short-term resource position. Current assets covered only 0.24x of current liabilities, so current liabilities exceeded current assets at period end. The equity-to-assets relationship was 1.5%, placing book capital against the total resource base. The liabilities-to-assets relationship was 98.5%, placing reported obligations against the full positive asset balance. Compared with $13.02M in fiscal 2023, the current asset base moved 35.0% and finished higher. Book equity was 90.4% lower than fiscal 2023 equity of $2.65M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $875.22K, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Capital spending was $761.53K, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 87.0% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $113.70K, leaving a positive amount after capital expenditures. Free cash flow represented 0.9% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 0.6%, showing the cash productivity of the company’s assets. Operating cash flow moved from a $4.59M outflow in fiscal 2023 to a $875.22K inflow.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Oct 21, 2026.