A company still losing money with shrinking sales, with elevated risk.
Watch out for
Owes more than it owns (negative equity)
Losing money, losses are large next to sales
Revenue down 35.2% from the year before
Money moves
No insider buying or selling in the last 30 days
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$1.47
Company value
$4M
Share price times all shares
Price vs sales
0.51x
No profit over the last year, so this compares value with sales instead
Cash vs value
135%
A big cushion: cash is a large part of what the company is worth
Debt vs value
1%
Debt as a share of company value
From NCRA's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$2.1M-29% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $6.9M. Over 5 years, sales grew about 57% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of NCRA. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$26M
Profit in 5 years$3M
Price these guesses point to$15.97+986% vs $1.47 todayAbout +61% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 19% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
0/5Weak
MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-26.1%
MissProfitable every yearSteady profits, not one good year.1 of 9 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$2.6M
MissGross margin 40%+Pricing power: sells for well above what it costs to make.1.5%
Revenue
$11.0M
-35.2% vs prior year
5-year growth
+56.6%/yr
revenue, per year
Total debt
$25K
Current ratio
11.93x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, share count not growing. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Mar 30, 2022
Revenue
$2.1M
-29.3% YoY
EPS
-$0.99
vs -$19.82
Op. margin
-54.9%
-50.0 pts
Gross margin
0.8%
-0.2 pts
Free cash flow
-$1.2M
Share count
+9673.3%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
1.2
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady
The share count changed with a stock split this quarter, so the change in holdings isn't comparable until next quarter.
Shares held by institutions2.0M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-38.4%
Cash runwayAt last year's cash burn
22 months
Debt to equityLatest balance sheet: debt compared with what owners have
Owes more than it owns
Shares outstandingLatest reported
2M
Why high risk
Losing money, losses are large next to sales
About 22 months of cash left at its current burn
3 offering filings in 6 months (may sell new shares)
Past financials no longer reliable
Exchange listing notice (a delisting warning or a move to another exchange)
Late annual report notice
Auditor change
Earnings reports
Last 2
Next reportDue any dayEstimated from the same quarter last year
Results filedMar 30, 2022
Results filedSep 21, 2020
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days