Income Statement Vaso Corporation

Stocks

VASO

US92233F1021

Advanced Medical Equipment & Technology

Market Closed - OTC Markets 15:57:09 2026-08-20 EDT			5-day change	1st Jan Change
0.3000 ^USD	+2.39%		+15.38%	+71.53%

08-14	Vaso Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
07-30	Coeo Solutions, LLC acquired Netwolves Network Services LLC from Vaso Corporation for $14.5 million.	CI

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Published financial data: VASO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	75.58M	80.02M	81.02M	86.77M	89.1M
Total Revenues	75.58M	80.02M	81.02M	86.77M	89.1M
Cost of Goods Sold, Total	32.45M	31.54M	30.43M	34.72M	34.42M
Gross Profit	43.13M	48.48M	50.59M	52.05M	54.67M
Selling General & Admin Expenses, Total	38.59M	40.84M	45.64M	48.98M	52.2M
R&D Expenses	1.72M	605K	755K	851K	728K
Other Operating Expenses, Total	40.31M	41.45M	46.4M	49.84M	52.92M
Operating Income	2.82M	7.03M	4.2M	2.22M	1.75M
Interest Expense, Total	-312K	-44K	-50K	-4K	-25K
Interest And Investment Income	98K	143K	970K	1.25M	1.2M
Net Interest Expenses	-214K	99K	920K	1.24M	1.17M
Income (Loss) On Equity Invest.	-	-	-206K	-247K	-408K
EBT, Excl. Unusual Items	2.6M	7.13M	4.91M	3.21M	2.51M
Merger & Related Restructuring Charges	-	-	-	-1.93M	-
Impairment of Goodwill	-	-	-	-	-4.64M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-2K	-4K	-4K	820K
Other Unusual Items	3.65M	-	-	-	-
EBT, Incl. Unusual Items	6.25M	7.13M	4.9M	1.28M	-1.31M
Income Tax Expense	151K	-4.74M	100K	326K	-2.88M
Earnings From Continuing Operations	6.1M	11.87M	4.8M	951K	1.57M
Net Income to Company	6.1M	11.87M	4.8M	951K	1.57M
Net Income - (IS)	6.1M	11.87M	4.8M	951K	1.57M
Net Income to Common Incl Extra Items	6.1M	11.87M	4.8M	951K	1.57M
Net Income to Common Excl. Extra Items	6.1M	11.87M	4.8M	951K	1.57M
Per Share Items
Net EPS - Basic	0.04	0.07	0.03	0.01	0.01
Basic EPS - Continuing Operations	0.04	0.07	0.03	0.01	0.01
Basic Weighted Average Shares Outstanding	172M	173M	174M	175M	176M
Net EPS - Diluted	0.04	0.07	0.03	0.01	0.01
Diluted EPS - Continuing Operations	0.04	0.07	0.03	0.01	0.01
Diluted Weighted Average Shares Outstanding	174M	175M	176M	176M	176M
Normalized Basic EPS	0.01	0.03	0.02	0.01	0.01
Normalized Diluted EPS	0.01	0.03	0.02	0.01	0.01
Supplemental Items
EBITDA	6.66M	8.96M	5.19M	3.04M	2.61M
EBITA	4.79M	7.58M	4.56M	2.58M	2.12M
EBIT	2.82M	7.03M	4.2M	2.22M	1.75M
EBITDAR	7.53M	9.89M	6.26M	4.32M	3.9M
Total Revenues (As Reported)	75.58M	80.02M	81.02M	86.77M	89.1M
Effective Tax Rate - (Ratio)	2.42	-66.52	2.04	25.53	220.14
Current Domestic Taxes	47K	36K	50K	275K	175K
Current Foreign Taxes	52K	9K	-1K	-	-
Total Current Taxes	99K	45K	49K	275K	175K
Deferred Domestic Taxes	52K	-4.79M	51K	51K	-3.05M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	52K	-4.79M	51K	51K	-3.05M
Normalized Net Income	1.63M	4.46M	3.07M	2.01M	1.57M
Interest on Long-Term Debt	176K	44K	23K	11K	1K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1.72M	605K	755K	851K	728K
Net Rental Expense, Total	870K	930K	1.06M	1.28M	1.29M
Imputed Operating Lease Interest Expense	298K	205K	220K	18.51K	123K
Imputed Operating Lease Depreciation	572K	725K	843K	1.26M	1.17M
Stock-Based Comp., SG&A Exp. (Total)	31K	35K	48K	54K	33K
Total Stock-Based Compensation	31K	35K	48K	54K	33K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	6.02M	11.82M	11.34M	26.27M	35.05M
Short Term Investments	629K	8.5M	13.98M	-	-
Total Cash And Short Term Investments	6.65M	20.32M	25.32M	26.27M	35.05M
Accounts Receivable, Total	15.39M	15.52M	12.38M	17M	15.94M
Other Receivables	66K	421K	929K	943K	926K
Total Receivables	15.46M	15.94M	13.31M	17.94M	16.86M
Inventory	1.15M	1.47M	1.47M	911K	833K
Prepaid Expenses	994K	1.01M	1.72M	2.4M	2.03M
Other Current Assets, Total	3.55M	3.25M	3.28M	3.66M	3.79M
Total Current Assets	27.8M	42M	45.1M	51.18M	58.56M
Gross Property Plant And Equipment	13.6M	12.7M	13.48M	14.6M	11.92M
Accumulated Depreciation	-10.51M	-9.79M	-10.36M	-10.71M	-9.13M
Net Property Plant And Equipment	3.09M	2.91M	3.12M	3.89M	2.79M
Long-term Investments	1.04M	889K	683K	436K	135K
Goodwill	15.72M	15.61M	15.59M	15.55M	10.96M
Other Intangibles, Total	2.04M	1.51M	1.41M	1.62M	1.94M
Accounts Receivable Long-Term	368K	792K	1.02M	1.26M	1.53M
Deferred Tax Assets Long-Term	219K	5.01M	4.96M	4.9M	7.95M
Deferred Charges Long-Term	2.02M	3.86M	3.82M	4.04M	4.43M
Other Long-Term Assets, Total	60K	70K	60K	58K	52K
Total Assets	52.36M	72.66M	75.76M	82.94M	88.35M
Liabilities
Accounts Payable, Total	2.8M	2.27M	2.67M	4.18M	4.01M
Accrued Expenses, Total	7.62M	9.19M	7.73M	10.13M	10.14M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	8K	9K	9K	6K	286K
Current Portion of Leases	784K	867K	1M	1.09M	934K
Current Income Taxes Payable	-	-	-	60K	-
Unearned Revenue Current, Total	16.5M	15.14M	15.88M	17.07M	19.02M
Other Current Liabilities	3.3M	4.23M	2.74M	2.18M	2.46M
Total Current Liabilities	31M	31.71M	30.04M	34.72M	36.85M
Long-Term Debt	23K	15K	6K	-	-
Long-Term Leases	570K	919K	1.04M	1.28M	591K
Unearned Revenue Non Current	8.47M	15.66M	16.32M	17.82M	19.58M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	988K	1.47M	1.51M	1.42M	1.91M
Total Liabilities	41.05M	49.78M	48.91M	55.24M	58.92M
Common Stock, Total	185K	185K	186K	176K	176K
Additional Paid In Capital	63.92M	63.95M	63.99M	62.05M	62.08M
Retained Earnings	-50.9M	-39.03M	-35.03M	-34.08M	-32.51M
Treasury Stock	-2M	-2M	-2M	-	-
Comprehensive Income and Other	110K	-233K	-304K	-442K	-315K
Total Common Equity	11.31M	22.88M	26.84M	27.7M	29.43M
Total Equity	11.31M	22.88M	26.84M	27.7M	29.43M
Total Liabilities And Equity	52.36M	72.66M	75.76M	82.94M	88.35M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	175M	175M	175M	176M	176M
ECS Total Common Shares Outstanding	175M	175M	175M	176M	176M
Book Value / Share	0.06	0.13	0.15	0.16	0.17
Tangible Book Value	-6.45M	5.75M	9.85M	10.54M	16.53M
Tangible Book Value Per Share	-0.04	0.03	0.06	0.06	0.09
Total Debt	1.38M	1.81M	2.06M	2.38M	1.81M
Net Debt	-5.27M	-18.52M	-23.26M	-23.9M	-33.24M
Debt Equivalent Oper. Leases	6.96M	7.44M	8.5M	10.26M	10.34M
Equity Method Investments, Total	1.04M	889K	683K	436K	135K
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	744K	751K	832K	596K	492K
Inventories - Work In Process, Total	4K	6K	11K	12K	57K
Inventories - Finished Goods, Total	399K	716K	627K	303K	284K
Machinery, Total	11.4M	10.01M	10.42M	11.14M	9.28M
Full Time Employees	256	272	300	298	282
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	5.8M	6.95M	9.71M	10.71M	11.41M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	6.1M	11.87M	4.8M	951K	1.57M
Depreciation & Amortization - CF	1.87M	1.37M	638K	463K	489K
Amortization of Goodwill and Intangible Assets - (CF)	1.97M	551K	361K	361K	369K
Depreciation & Amortization, Total	3.84M	1.92M	999K	824K	858K
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-827K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	4.64M
Provision for Credit Losses	-	-	-	573K	-
(Income) Loss On Equity Investments - (CF)	73K	154K	206K	247K	408K
Stock-Based Compensation (CF)	31K	35K	48K	54K	33K
Provision and Write-off of Bad Debts	448K	63K	66K	777K	813K
Other Operating Activities, Total	-3.21M	-4.79M	51K	51K	-3.05M
Change In Accounts Receivable	-6.05M	-243K	2.06M	-5.06M	925K
Change In Inventories	299K	-416K	-22K	574K	86K
Change In Accounts Payable	-3.49M	-521K	402K	1.51M	600K
Change in Unearned Revenues	7.26M	5.84M	1.4M	2.69M	3.7M
Change In Income Taxes	-	-	-	56K	-60K
Change In Deferred Taxes	-	-	-	-	-
Change in Other Net Operating Assets	2.52M	498K	-4.72M	34K	-421K
Cash from Operations	7.82M	14.42M	5.3M	3.28M	9.27M
Capital Expenditure	-415K	-566K	-731K	-1.45M	-925K
Sale of Property, Plant, and Equipment	-	-	-	-	-
Divestitures	-	-	-	-	200K
Investment in Marketable and Equity Securities, Total	155K	-7.85M	-4.93M	13.76M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-573K	-
Cash from Investing	-260K	-8.42M	-5.66M	11.73M	-725K
Long-Term Debt Issued, Total	-	-	-	-	3.62M
Total Debt Issued	-	-	-	-	3.62M
Long-Term Debt Repaid, Total	-8.33M	-230K	-128K	-81K	-3.37M
Total Debt Repaid	-8.33M	-230K	-128K	-81K	-3.37M
Repurchase of Common Stock	-	-	-6K	-8K	-1K
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-8.33M	-230K	-134K	-89K	248K
Foreign Exchange Rate Adjustments	-20K	27K	16K	7K	-17K
Net Change in Cash	-794K	5.8M	-479K	14.93M	8.78M
Supplemental Items
Cash Interest Paid	347K	44K	17K	4K	26K
Cash Income Tax Paid (Refund)	113K	48K	89K	183K	230K
Levered Free Cash Flow	3.77M	5.86M	2.19M	263K	4.45M
Unlevered Free Cash Flow	3.96M	5.89M	2.23M	265K	4.47M
Change In Net Working Capital	1.26M	-98K	712K	544K	-3.41M
Net Debt Issued / Repaid	-8.33M	-230K	-128K	-81K	249K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.43	7.03	3.56	1.74	1.28
Return on Total Capital	11.38	23.52	9.94	4.69	3.56
Return On Equity %	74.41	69.46	19.65	3.49	5.49
Return on Common Equity	74.41	69.46	19.65	3.49	5.49
Margin Analysis
Gross Profit Margin %	57.07	60.59	62.44	59.99	61.36
SG&A Margin	51.06	51.04	56.33	56.45	58.58
EBITDA Margin %	8.81	11.19	6.41	3.5	2.92
EBITA Margin %	6.34	9.48	5.62	2.97	2.38
EBIT Margin %	3.73	8.79	5.18	2.55	1.96
Income From Continuing Operations Margin %	8.07	14.84	5.93	1.1	1.76
Net Income Margin %	8.07	14.84	5.93	1.1	1.76
Net Avail. For Common Margin %	8.07	14.84	5.93	1.1	1.76
Normalized Net Income Margin	2.15	5.57	3.79	2.31	1.76
Levered Free Cash Flow Margin	4.98	7.32	2.71	0.3	4.99
Unlevered Free Cash Flow Margin	5.24	7.36	2.75	0.31	5.01
Asset Turnover
Asset Turnover	1.47	1.28	1.1	1.09	1.04
Fixed Assets Turnover	18.94	26.69	26.87	24.75	26.69
Receivables Turnover (Average Receivables)	6.01	5.18	6.03	5.91	5.41
Inventory Turnover (Average Inventory)	25.64	24.07	20.68	29.16	39.48
Short Term Liquidity
Current Ratio	0.9	1.32	1.5	1.47	1.59
Quick Ratio	0.71	1.14	1.29	1.27	1.41
Operating Cash Flow to Current Liabilities	0.25	0.45	0.18	0.09	0.25
Days Sales Outstanding (Average Receivables)	60.72	70.51	60.57	61.96	67.46
Days Outstanding Inventory (Average Inventory)	14.24	15.16	17.65	12.55	9.25
Average Days Payable Outstanding	51.46	29.02	29.63	36.69	43.5
Cash Conversion Cycle (Average Days)	23.49	56.65	48.59	37.81	33.2
Long Term Solvency
Total Debt/Equity	12.25	7.91	7.67	8.57	6.15
Total Debt / Total Capital	10.91	7.33	7.13	7.9	5.8
LT Debt/Equity	5.24	4.08	3.92	4.61	2.01
Long-Term Debt / Total Capital	4.67	3.78	3.64	4.25	1.89
Total Liabilities / Total Assets	78.4	68.52	64.57	66.6	66.69
EBIT / Interest Expense	9.04	159.84	83.9	553.75	69.92
EBITDA / Interest Expense	24.13	224.68	125.14	1.08K	155.92
(EBITDA - Capex) / Interest Expense	22.8	211.82	110.52	717.25	118.92
Total Debt / EBITDA	0.18	0.18	0.33	0.55	0.46
Net Debt / EBITDA	-0.7	-1.87	-3.72	-5.53	-8.53
Total Debt / (EBITDA - Capex)	0.19	0.19	0.37	0.83	0.61
Net Debt / (EBITDA - Capex)	-0.74	-1.99	-4.21	-8.33	-11.18
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.2	5.87	2.18	7.09	2.68
Gross Profit, 1 Yr. Growth %	11.83	12.4	5.62	2.88	5.04
EBITDA, 1 Yr. Growth %	105.91	34.49	-38	-47.23	-14.25
EBITA, 1 Yr. Growth %	185.52	58.3	-34.96	-49.7	-17.82
EBIT, 1 Yr. Growth %	265.16	149.49	-35	-53.47	-21.08
Earnings From Cont. Operations, 1 Yr. Growth %	1.6K	94.64	-57.46	-80.21	64.98
Net Income, 1 Yr. Growth %	1.6K	94.64	-57.46	-80.21	64.98
Normalized Net Income, 1 Yr. Growth %	954.66	173.78	-25.09	-41.34	-21.74
Diluted EPS Before Extra, 1 Yr. Growth %	1.6K	93.09	-54.09	-80.32	64.59
Accounts Receivable, 1 Yr. Growth %	57.84	0.85	-14.72	37.34	-6.26
Inventory, 1 Yr. Growth %	-17.12	28.42	-0.2	-38.03	-8.56
Net Property, Plant and Equip., 1 Yr. Growth %	-36.92	-5.8	7.39	24.53	-28.31
Total Assets, 1 Yr. Growth %	3.94	38.76	5.74	9.48	6.52
Tangible Book Value, 1 Yr. Growth %	-55.66	-189.11	99.29	6.98	56.92
Common Equity, 1 Yr. Growth %	122.42	102.25	21.64	3.2	6.23
Cash From Operations, 1 Yr. Growth %	31.7	84.47	-63.26	-38.05	182.63
Capital Expenditures, 1 Yr. Growth %	-58.5	36.39	29.15	98.77	-36.34
Levered Free Cash Flow, 1 Yr. Growth %	-31.46	55.56	-65.19	-89.68	1.59K
Unlevered Free Cash Flow, 1 Yr. Growth %	-33.23	48.59	-64.85	-89.71	1.58K
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.04	7.03	3.54	4.61	4.86
Gross Profit, 2 Yr. CAGR %	0.82	12.11	8.3	4.24	3.95
EBITDA, 2 Yr. CAGR %	42.66	66.41	-11.68	-39.77	-32.73
EBITA, 2 Yr. CAGR %	76.73	112.6	-2.48	-39.36	-35.7
EBIT, 2 Yr. CAGR %	118.4	201.83	21.99	-41.42	-39.4
Earnings From Cont. Operations, 2 Yr. CAGR %	299.61	475.89	-11.25	-70.98	-42.86
Net Income, 2 Yr. CAGR %	299.61	475.89	-11.25	-70.98	-42.86
Normalized Net Income, 2 Yr. CAGR %	210.04	437.35	37.28	-30	-32.24
Diluted EPS Before Extra, 2 Yr. CAGR %	295.19	472.25	-11.95	-69.94	-43.08
Accounts Receivable, 2 Yr. CAGR %	-1.37	26.17	-10.33	8.22	13.47
Inventory, 2 Yr. CAGR %	-23.13	3.17	13.21	-21.36	-24.72
Net Property, Plant and Equip., 2 Yr. CAGR %	-27.2	-22.92	0.58	15.64	-5.52
Total Assets, 2 Yr. CAGR %	-1.86	20.09	20.28	7.59	7.99
Tangible Book Value, 2 Yr. CAGR %	-38.85	-37.14	23.54	46.01	29.56
Common Equity, 2 Yr. CAGR %	61.92	112.1	54.06	12.04	4.71
Cash From Operations, 2 Yr. CAGR %	142.13	55.86	-17.68	-52.29	32.32
Capital Expenditures, 2 Yr. CAGR %	-41.31	-24.77	32.72	60.22	12.49
Levered Free Cash Flow, 2 Yr. CAGR %	79.77	3.26	-23.66	-79.58	32.16
Unlevered Free Cash Flow, 2 Yr. CAGR %	166.28	-0.4	-25.04	-79.53	31.59
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.72	1.95	5.07	4.71	3.96
Gross Profit, 3 Yr. CAGR %	1.6	4.54	9.47	6.46	4.5
EBITDA, 3 Yr. CAGR %	76.94	39.88	17.11	-23.01	-32.24
EBITA, 3 Yr. CAGR %	21.2	70.36	39.51	-18.68	-32.89
EBIT, 3 Yr. CAGR %	-8.86	128.31	75.81	-7.72	-35.3
Earnings From Cont. Operations, 3 Yr. CAGR %	17.77	214.41	137.65	-46.18	-48.21
Net Income, 3 Yr. CAGR %	17.77	214.41	137.65	-46.18	-48.21
Normalized Net Income, 3 Yr. CAGR %	-15.59	197.45	170.87	7.22	-27.35
Diluted EPS Before Extra, 3 Yr. CAGR %	16.32	211.26	136.02	-46.56	-47.02
Accounts Receivable, 3 Yr. CAGR %	11.78	-0.64	8.27	3.36	3.16
Inventory, 3 Yr. CAGR %	-16.68	-8.79	2.03	-7.39	-17.3
Net Property, Plant and Equip., 3 Yr. CAGR %	-19	-20.67	-13.91	8	-1.39
Total Assets, 3 Yr. CAGR %	1.23	10.15	14.57	16.57	7.24
Tangible Book Value, 3 Yr. CAGR %	-26.78	-30.67	-12.2	17.75	49.56
Common Equity, 3 Yr. CAGR %	26.32	74.38	74.12	34.8	10.07
Cash From Operations, 3 Yr. CAGR %	75.21	121.14	-3.72	-25.12	-13.68
Capital Expenditures, 3 Yr. CAGR %	-45.66	-22.27	-9.92	51.85	17.79
Levered Free Cash Flow, 3 Yr. CAGR %	6.01	71.31	-26.35	-58.83	-10.96
Unlevered Free Cash Flow, 3 Yr. CAGR %	13.28	119.23	-27.87	-59.38	-10.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.81	1.91	1.84	2.82	4.99
Gross Profit, 5 Yr. CAGR %	0.77	3.54	4.23	4.17	7.23
EBITDA, 5 Yr. CAGR %	12.34	44.82	34	-1.47	-4.23
EBITA, 5 Yr. CAGR %	12.14	22.98	11.11	10.92	4.76
EBIT, 5 Yr. CAGR %	12.5	12.91	2.41	30.24	17.76
Earnings From Cont. Operations, 5 Yr. CAGR %	49.38	21.2	5.17	20.01	34.38
Net Income, 5 Yr. CAGR %	49.38	21.2	5.17	20.01	34.38
Normalized Net Income, 5 Yr. CAGR %	18.8	10.12	2.54	63.96	59.04
Diluted EPS Before Extra, 5 Yr. CAGR %	47.14	19.65	4.06	18.97	33.62
Accounts Receivable, 5 Yr. CAGR %	4.57	3.32	2.35	1.44	10.32
Inventory, 5 Yr. CAGR %	-13.69	-8.96	-5.81	-14.04	-9.66
Net Property, Plant and Equip., 5 Yr. CAGR %	-5.15	-9.23	-11.67	-7.76	-10.64
Total Assets, 5 Yr. CAGR %	-1.81	5.06	8.46	8.81	11.89
Tangible Book Value, 5 Yr. CAGR %	-9.04	-15.78	-9.74	-9.4	2.59
Common Equity, 5 Yr. CAGR %	-2.61	20.11	36.76	45.05	42.07
Cash From Operations, 5 Yr. CAGR %	8.43	55.24	29.52	19.74	9.34
Capital Expenditures, 5 Yr. CAGR %	-25.97	-24.93	-22.33	3.81	-1.55
Levered Free Cash Flow, 5 Yr. CAGR %	58.43	7.95	-7.04	-25.76	-4.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	39.47	6.07	-3.96	-13.83	-5.52