Income Statement Rand Capital Corporation Nasdaq

Stocks

RAND

US7521851086

Investment Management & Fund Operators

Delayed Nasdaq Other stock markets 12:20:05 2021-10-04 EDT			5-day change	1st Jan Change
15.66 ^USD	-1.60%		-6.87%	-10.99%

05-06	Rand Capital Corporation, Q1 2026 Earnings Call, May 06, 2026
05-06	Rand Capital Corporation Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: RAND CAPITAL CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	157K	156K	321K	534K	486K
Interest And Invest. Income (Rev)	3.92M	5.61M	7.02M	8.03M	5.99M
Total Revenues	4.08M	5.77M	7.34M	8.56M	6.47M
Gross Profit	4.08M	5.77M	7.34M	8.56M	6.47M
Selling General & Admin Expenses, Total	6.07M	1.05M	3.13M	3.75M	1.02M
Provision for Bad Debts	-15K	-	-	-	58.46K
Other Operating Expenses, Total	6.05M	1.05M	3.13M	3.75M	1.08M
Operating Income	-1.98M	4.72M	4.2M	4.81M	5.4M
Interest Expense, Total	-617K	-69.96K	-1.04M	-1.09M	-113K
Net Interest Expenses	-617K	-69.96K	-1.04M	-1.09M	-113K
EBT, Excl. Unusual Items	-2.59M	4.65M	3.16M	3.72M	5.29M
Gain (Loss) On Sale Of Investments	18.4M	-5.31M	3.56M	5.4M	-13.33M
EBT, Incl. Unusual Items	15.81M	-666K	6.72M	9.12M	-8.04M
Income Tax Expense	10.9K	216K	192K	297K	-2.69K
Earnings From Continuing Operations	15.8M	-882K	6.53M	8.83M	-8.04M
Net Income to Company	15.8M	-882K	6.53M	8.83M	-8.04M
Net Income - (IS)	15.8M	-882K	6.53M	8.83M	-8.04M
Net Income to Common Incl Extra Items	15.8M	-882K	6.53M	8.83M	-8.04M
Net Income to Common Excl. Extra Items	15.8M	-882K	6.53M	8.83M	-8.04M
Per Share Items
Net EPS - Basic	6.12	-0.34	2.53	3.42	-2.73
Basic EPS - Continuing Operations	6.12	-0.34	2.53	3.42	-2.73
Basic Weighted Average Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.95M
Net EPS - Diluted	6.12	-0.34	2.53	3.42	-2.73
Diluted EPS - Continuing Operations	6.12	-0.34	2.53	3.42	-2.73
Diluted Weighted Average Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.95M
Normalized Basic EPS	-0.63	1.13	0.77	0.9	1.12
Normalized Diluted EPS	-0.63	1.13	0.77	0.9	1.12
Dividend Per Share	0.4	0.65	0.95	1.67	1.16
Payout Ratio	26.3	-190.24	37.57	24.27	-61.05
Supplemental Items
EBITDA	-1.94M	-	-	-	-
EBITA	-1.98M	4.72M	4.2M	4.81M	5.4M
EBIT	-1.98M	4.72M	4.2M	4.81M	5.4M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	4.08M	5.77M	7.34M	8.56M	6.47M
Effective Tax Rate - (Ratio)	0.07	-32.35	2.86	3.25	0.03
Normalized Net Income	-1.62M	2.9M	1.97M	2.33M	3.3M
Interest on Long-Term Debt	617K	69.96K	1.04M	1.09M	113K
Supplemental Operating Expense Items
Marketing Expenses	14.7K	3.75K	5.93K	12.99K	7.49K
Selling and Marketing Expenses	14.7K	3.75K	5.93K	12.99K	7.49K
General and Administrative Expenses	6.01M	1M	3.08M	3.69M	969K
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	834K	1.37M	3.3M	835K	4.21M
Total Cash And Short Term Investments	834K	1.37M	3.3M	835K	4.21M
Accounts Receivable, Total	228K	311K	330K	394K	168K
Other Receivables	-	-	-	-	-
Total Receivables	228K	311K	330K	394K	168K
Prepaid Expenses	9.97K	10.9K	16.71K	16.98K	16.75K
Other Current Assets, Total	324K	145K	128K	329K	284K
Total Current Assets	1.4M	1.84M	3.77M	1.57M	4.68M
Net Property Plant And Equipment	-	-	-	-	-
Long-term Investments	64.07M	61.5M	-	2.5M	1.4M
Deferred Tax Assets Long-Term	181K	28.16K	39.18K	2.16K	-
Deferred Charges Long-Term	-	112K	87.5K	62.5K	37.5K
Other Long-Term Assets, Total	-	-	77.13M	68.32M	47.08M
Total Assets	65.64M	63.48M	81.02M	72.46M	53.2M
Liabilities
Accounts Payable, Total	51.69K	66.68K	146K	92.57K	102K
Accrued Expenses, Total	4.44M	2.73M	3.26M	3.75M	519K
Current Income Taxes Payable	-	-	-	-	-
Other Current Liabilities	-	-	-	2.17M	-
Total Current Liabilities	4.49M	2.8M	3.4M	6.01M	621K
Long-Term Debt	-	2.55M	16.25M	600K	-
Unearned Revenue Non Current	409K	414K	552K	516K	391K
Deferred Tax Liability Non Current	-	-	-	-	-
Total Liabilities	4.9M	5.76M	20.21M	7.12M	1.01M
Common Stock, Total	265K	265K	265K	265K	304K
Additional Paid In Capital	51.68M	51.46M	55.8M	55.42M	64.06M
Retained Earnings	10.37M	7.56M	6.32M	11.21M	-10.62M
Treasury Stock	-1.57M	-1.57M	-1.57M	-1.57M	-1.57M
Total Common Equity	60.75M	57.72M	60.82M	65.33M	52.18M
Total Equity	60.75M	57.72M	60.82M	65.33M	52.18M
Total Liabilities And Equity	65.64M	63.48M	81.02M	72.46M	53.2M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.58M	2.58M	2.58M	2.97M	2.97M
ECS Total Common Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.97M
Book Value / Share	23.54	22.36	23.56	25.31	17.57
Tangible Book Value	60.75M	57.72M	60.82M	65.33M	52.18M
Tangible Book Value Per Share	23.54	22.36	23.56	25.31	17.57
Total Debt	0	2.55M	16.25M	600K	0
Net Debt	-834K	1.18M	12.95M	-235K	-4.21M
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	3	-	3	3	3
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	15.8M	-882K	6.53M	8.83M	-8.04M
Depreciation & Amortization - CF	-	-	-	-	-
Depreciation & Amortization, Total	-	-	-	-	-
Amortization of Deferred Charges, Total - (CF)	175K	12.5K	25K	25K	25K
(Gain) Loss on Sale of Investments - (CF)	-18.19M	5.2M	-4.02M	-5.06M	13.28M
Net (Increase) Decrease in Loans Originated / Sold - Operating	4.95M	1.61M	4.11M	7.9M	16.83M
Provision and Write-off of Bad Debts	-15K	-	-	-	25.34K
Other Operating Activities, Total	-11.08M	-4.09M	-15.72M	3.5M	-7.77M
Change In Accounts Receivable	145K	-80.29K	-36.26K	-113K	164K
Change In Accounts Payable	-120K	14.99K	78.84K	-52.95K	9.41K
Change in Unearned Revenues	255K	5.08K	138K	-35.82K	-126K
Change In Income Taxes	-31.27K	176K	-51.47K	-201K	45.78K
Change in Other Net Operating Assets	4.17M	-1.71M	606K	538K	-3.19M
Cash from Operations	-3.94M	252K	-8.34M	15.33M	11.25M
Capital Expenditure	-	-	-	-	-
Cash from Investing	-	-	-	-	-
Long-Term Debt Issued, Total	-	2.55M	13.7M	-	-
Total Debt Issued	-	2.55M	13.7M	-	-
Long-Term Debt Repaid, Total	-11M	-	-	-15.65M	-600K
Total Debt Repaid	-11M	-	-	-15.65M	-600K
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-20.77K	-	-	-	-
Common Dividends Paid	-4.15M	-1.68M	-2.45M	-2.14M	-4.91M
Common & Preferred Stock Dividends Paid	-4.15M	-1.68M	-2.45M	-2.14M	-4.91M
Special Dividend Paid	-415K	-465K	-981K	-	-2.37M
Other Financing Activities, Total	-	-125K	-	-	-
Cash from Financing	-15.59M	283K	10.27M	-17.79M	-7.88M
Net Change in Cash	-19.53M	535K	1.93M	-2.46M	3.37M
Supplemental Items
Cash Interest Paid	567K	48.27K	935K	1.15M	92.53K
Cash Income Tax Paid (Refund)	-132K	-5.28K	645K	121K	3.13K
Levered Free Cash Flow	-726K	1.32M	2.6M	4.69M	-1.79M
Unlevered Free Cash Flow	-516K	1.35M	3.23M	5.35M	-1.74M
Change In Net Working Capital	-720K	1.6M	-602K	-2.34M	5.12M
Net Debt Issued / Repaid	-11M	2.55M	13.7M	-15.65M	-600K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.95	4.57	3.64	3.92	5.37
Return on Total Capital	-2.1	4.87	3.83	4.21	5.71
Return On Equity %	29.57	-1.49	11.01	14	-13.68
Return on Common Equity	29.57	-1.49	11.01	14	-13.68
Margin Analysis
Gross Profit Margin %	100	100	100	100	100
SG&A Margin	148.86	18.2	42.7	43.78	15.72
EBITDA Margin %	-47.57	-	-	-	-
EBITA Margin %	-48.49	81.8	57.3	56.22	83.38
EBIT Margin %	-48.49	81.8	57.3	56.22	83.38
Income From Continuing Operations Margin %	387.54	-15.3	88.94	103.13	-124.17
Net Income Margin %	387.54	-15.3	88.94	103.13	-124.17
Net Avail. For Common Margin %	387.54	-15.3	88.94	103.13	-124.17
Normalized Net Income Margin	-39.77	50.37	26.91	27.18	51.03
Levered Free Cash Flow Margin	-17.82	22.82	35.45	54.79	-27.6
Unlevered Free Cash Flow Margin	-12.66	23.36	44.01	62.45	-26.9
Asset Turnover
Asset Turnover	0.06	0.09	0.1	0.11	0.1
Fixed Assets Turnover	-	-	-	-	-
Receivables Turnover (Average Receivables)	0.57	0.58	1	1.48	1.73
Short Term Liquidity
Current Ratio	0.31	0.66	1.11	0.26	7.53
Quick Ratio	0.24	0.6	1.06	0.2	7.05
Operating Cash Flow to Current Liabilities	-0.88	0.09	-2.45	2.55	18.11
Days Sales Outstanding (Average Receivables)	642.83	630.63	364.54	247.99	210.95
Long Term Solvency
Total Debt/Equity	-	4.42	26.72	0.92	-
Total Debt / Total Capital	-	4.23	21.09	0.91	-
LT Debt/Equity	-	4.42	26.72	0.92	-
Long-Term Debt / Total Capital	-	4.23	21.09	0.91	-
Total Liabilities / Total Assets	7.46	9.07	24.94	9.83	1.9
EBIT / Interest Expense	-3.2	67.41	4.02	4.42	47.98
EBITDA / Interest Expense	-3.14	-	-	-	-
(EBITDA - Capex) / Interest Expense	-3.14	-	-	-	-
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	0.43	-	-	-	-
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	0.43	-	-	-	-
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	31.37	41.43	27.28	16.64	-24.35
Gross Profit, 1 Yr. Growth %	31.37	41.43	27.28	16.64	-24.35
EBITDA, 1 Yr. Growth %	-222.54	-	-	-	-
EBITA, 1 Yr. Growth %	-227.97	-338.57	-10.84	14.44	12.2
EBIT, 1 Yr. Growth %	-227.97	-338.57	-10.84	14.44	12.2
Earnings From Cont. Operations, 1 Yr. Growth %	2.02K	-105.58	-840.11	35.25	-191.07
Net Income, 1 Yr. Growth %	2.02K	-105.58	-840.11	35.25	-191.07
Normalized Net Income, 1 Yr. Growth %	-329.98	-279.1	-31.99	17.79	42.03
Diluted EPS Before Extra, 1 Yr. Growth %	1.77K	-105.58	-840.11	35.25	-179.81
Accounts Receivable, 1 Yr. Growth %	-29.68	36.54	6.01	19.38	-57.31
Net Property, Plant and Equip., 1 Yr. Growth %	-	-	-	-	-
Total Assets, 1 Yr. Growth %	7.67	-3.3	27.63	-10.57	-26.58
Tangible Book Value, 1 Yr. Growth %	31.75	-4.98	5.36	7.43	-20.13
Common Equity, 1 Yr. Growth %	31.75	-4.98	5.36	7.43	-20.13
Cash From Operations, 1 Yr. Growth %	538.7	-106.4	-3.41K	-283.81	-26.61
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-116.64	-281.17	97.71	80.26	-138.1
Unlevered Free Cash Flow, 1 Yr. Growth %	-111.25	-361.11	139.75	65.52	-132.58
Dividend Per Share, 1 Yr. Growth %	-69.92	62.5	46.15	75.79	-30.54
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	22.31	36.31	34.17	21.85	-6.07
Gross Profit, 2 Yr. CAGR %	22.31	36.31	34.17	21.85	-6.07
EBITDA, 2 Yr. CAGR %	120.36	-	-	-	-
EBITA, 2 Yr. CAGR %	133.67	74.73	45.84	1.01	13.31
EBIT, 2 Yr. CAGR %	133.67	74.73	45.84	1.01	13.31
Earnings From Cont. Operations, 2 Yr. CAGR %	162.67	8.89	-35.72	216.39	10.99
Net Income, 2 Yr. CAGR %	162.67	8.89	-35.72	216.39	10.99
Normalized Net Income, 2 Yr. CAGR %	650.77	102.95	10.37	-10.49	29.34
Diluted EPS Before Extra, 2 Yr. CAGR %	49.55	2.08	-35.72	216.39	3.9
Accounts Receivable, 2 Yr. CAGR %	-24.43	-2.01	20.31	12.5	-28.61
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-	-	-
Total Assets, 2 Yr. CAGR %	0.66	2.04	11.1	6.84	-18.97
Tangible Book Value, 2 Yr. CAGR %	6.43	11.89	0.06	6.39	-7.37
Common Equity, 2 Yr. CAGR %	6.43	11.89	0.06	6.39	-7.37
Cash From Operations, 2 Yr. CAGR %	-8.84	-36.04	45.49	679.43	16.15
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	18.05	-45.09	89.26	88.79	-17.13
Unlevered Free Cash Flow, 2 Yr. CAGR %	-16.44	-45.81	150.2	99.21	-26.57
Dividend Per Share, 2 Yr. CAGR %	-	-30.09	54.11	60.29	10.5
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	24.61	28.38	33.23	28.05	3.95
Gross Profit, 3 Yr. CAGR %	24.61	28.38	33.23	28.05	3.95
EBITDA, 3 Yr. CAGR %	96.91	-	-	-	-
EBITA, 3 Yr. CAGR %	106.56	135.29	39.62	34.52	4.61
EBIT, 3 Yr. CAGR %	106.56	135.29	39.62	34.52	4.61
Earnings From Cont. Operations, 3 Yr. CAGR %	242.12	-27.24	106.26	-17.63	108.9
Net Income, 3 Yr. CAGR %	242.12	-27.24	106.26	-17.63	108.9
Normalized Net Income, 3 Yr. CAGR %	210.42	365.63	40.97	12.79	4.4
Diluted EPS Before Extra, 3 Yr. CAGR %	121.69	-50.02	97.57	-17.63	99.91
Accounts Receivable, 3 Yr. CAGR %	16.1	-7.96	0.59	20	-18.55
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	-	-
Total Assets, 3 Yr. CAGR %	17.45	-0.68	9.94	3.35	-5.72
Tangible Book Value, 3 Yr. CAGR %	24.44	2.48	9.67	2.46	-3.31
Common Equity, 3 Yr. CAGR %	24.44	2.48	9.67	2.46	-3.31
Cash From Operations, 3 Yr. CAGR %	10.76	-62.39	138.22	57.28	254.59
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	44.98	36.17	-15.84	86.21	10.74
Unlevered Free Cash Flow, 3 Yr. CAGR %	127.29	22.16	-11.04	118.01	8.94
Dividend Per Share, 3 Yr. CAGR %	-	-	-10.61	61.02	21.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	31.62	31.71	28.35	25.73	15.85
Gross Profit, 5 Yr. CAGR %	31.62	31.71	28.35	25.73	15.85
EBITDA, 5 Yr. CAGR %	-0.87	-	-	-	-
EBITA, 5 Yr. CAGR %	-0.81	80.53	79.72	67.77	28.44
EBIT, 5 Yr. CAGR %	-0.81	80.53	79.72	67.77	28.44
Earnings From Cont. Operations, 5 Yr. CAGR %	67.37	4.41	75.28	30.98	60.98
Net Income, 5 Yr. CAGR %	67.37	4.41	75.28	30.98	60.98
Normalized Net Income, 5 Yr. CAGR %	1.83	52.89	105.26	140.75	36.2
Diluted EPS Before Extra, 5 Yr. CAGR %	29.03	-19.52	35.11	4.57	52.78
Accounts Receivable, 5 Yr. CAGR %	-8.66	3	17.77	-0.26	-12.3
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	-
Total Assets, 5 Yr. CAGR %	9.13	9.6	14.86	2.26	-2.69
Tangible Book Value, 5 Yr. CAGR %	13.24	12.58	14.04	4.03	2.51
Common Equity, 5 Yr. CAGR %	13.24	12.58	14.04	4.03	2.51
Cash From Operations, 5 Yr. CAGR %	-9.41	-46.97	23.53	26.45	78.73
Levered Free Cash Flow, 5 Yr. CAGR %	15.56	-2.27	61.29	55.18	-16.36
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.14	1	136.19	48.55	-17.61
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-2.7