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Financials · DRK

DarkHorse Technologies Inc. (DRK) financials

For the twelve months ended Sep 30, 2026, DarkHorse Technologies Inc. reported $10.12M of revenue and -$33.83M of net income.

Revenue, TTM
$10.12M
Revenue growth, YoY
-8.8%
Net income, TTM
-$33.83M
Net margin
-334.2%
Free cash flow, TTM
-$20.23M
Cash
$8.82M
P/S
1.78
Market cap
$18.0M
Annual revenue$11.18M
FY2016FY2025
Annual net income-$21.48M
FY2016FY2025
Annual free cash flow-$23.62M
FY2016FY2025

DRK revenue and earnings growth

DRK revenueQ3 2026$3.03M

Quarter YoY
+15.6%
QoQ
+23.6%
FY YoY
-32.7%
5Y CAGR
+18.2%
10Y CAGR
-17.5%

DRK revenue was $3.03M in fiscal Q3 2026 (ended Sep 30, 2026), up 15.6% from a year earlier and up 23.6% from the prior quarter. For the full fiscal 2025 it was $11.18M, down 32.7% from fiscal 2024. Compound annual growth was +18.2% over 5 years and -17.5% over 10 years. It rose in 3 of the last 10 fiscal years.

DRK net incomeQ3 2026-$5.78M

DRK net income was -$5.78M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$4.25M a year earlier. For the full fiscal 2025 it was -$21.48M, compared with -$9.47M in fiscal 2024.

DRK EPSQ3 2026-$0.65

DRK diluted EPS was -$0.65 in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was -$7.37.

DRK free cash flowQ3 2026-$4.48M

DRK free cash flow was -$4.48M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$5.74M a year earlier. For the full fiscal 2025 it was -$23.62M, compared with -$13.52M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$11.18M$16.61M$21.91M$6.08M$3.72M$4.85M$5.58M$9.03M$12.60M$76.39M
Cost of revenue$8.55M$13.38M--$2.02M$2.60M$3.73M$7.35M$53.14M$50.43M
Gross profit$2.63M$3.23M$5.96M$2.66M$1.70M$2.25M$1.85M$1.68M$3.15M$22.34M
Research and development-$0$1.03M$605.0K$971.0K$1.20M$2.05M$3.42M$5.87M$8.79M
Selling, general and admin$8.27M$12.45M$15.82M$24.13M$12.93M$5.47M$3.92M$7.50M$9.65M$20.73M
Operating income-$22.00M-$21.41M-$30.00M-$157.65M-$19.72M-$5.96M-$6.02M-$12.62M-$18.07M-$63.82M
Interest expense------$22.0K$0$3.39M$1.98M
Pre-tax income------$5.78M-$4.28M-$12.62M-$16.27M-$67.64M
Income tax$2.0K$150.0K$13.0K$166.0K-$15.0K$4.0K$0$0-$852.0K$825.0K
Net income-$21.48M-$9.47M-$23.41M-$192.80M-$17.29M-$5.78M-$4.28M-$26.21M-$26.18M-$68.46M
EPS, basic-$7.37-$4.78-$19.30-$203.60-$5.80-$9.80-$15.90-$158.00-$420.80-$2753.60
EPS, diluted-$7.37-$4.78-$19.30-$203.60-$5.80-$9.80-$15.90-$158.00-$420.80-$2753.60
Diluted shares2.9M2.0M1.2M947,0633.1M588,455.5269,251---

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$3.71M$5.42M$586.0K$1.54M$54.35M$461.0K$149.0K$341.0K$4.60M$5.06M
Short-term investments--$0-------
Receivables$0-$0$174.0K$181.0K$264.0K$369.0K$1.14M$1.91M$11.59M
Inventory----$0$558.0K$753.0K$1.23M$1.45M$10.00M
Current assets$8.68M$17.79M$13.51M$10.28M$78.42M$2.09M$1.94M$3.50M$76.39M$30.27M
Goodwill$0---$0$1.39M$1.39M$1.39M$1.39M$863.0K
Total assets$25.12M$43.23M$45.66M$83.02M$275.92M$11.83M$8.41M$11.29M$83.28M$92.56M
Current liabilities$1.80M$3.90M$5.35M$6.20M$5.21M$5.80M$6.65M$9.64M$70.58M$42.85M
Short-term debt--------$18.20M$17.30M
Total liabilities$1.80M$3.91M$5.35M$11.98M$6.30M$6.82M$7.17M$16.89M$72.82M$72.11M
Shareholders' equity$23.30M$39.31M$26.52M$34.56M$227.28M$5.01M$1.24M-$5.61M$10.46M$20.45M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$16.12M-$4.58M-$6.58M-$30.77M-$28.52M-$2.58M-$1.81M-$7.62M-$8.96M-$17.47M
Capital expenditures$7.50M$8.94M$1.56M$17.63M$102.24M$0$0$56.0K$123.0K$237.0K
Free cash flow-$23.62M-$13.52M-$8.14M-$48.40M-$130.76M-$2.58M-$1.81M-$7.68M-$9.09M-$17.71M
Investing cash flow$9.99M$4.03M$2.56M-$22.04M-$122.69M-$2.00M$0$944.0K-$1.17M-$237.0K
Financing cash flow$4.41M$5.39M$3.06M$0$205.10M$4.90M$1.62M$2.44M$9.53M$14.12M
Stock-based compensation$832.0K$2.84M$2.43M$8.46M$366.0K$5.0K$637.0K$1.64M$7.79M$9.13M
Depreciation and amortization$6.88M$7.11M$6.19M$28.26M$5.68M$971.0K$1.03M$3.86M$6.09M$6.19M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-32.7%-24.2%260.5%63.4%-23.3%-13.1%-38.2%-28.3%-83.5%0.3%
Gross margin23.5%19.4%27.2%43.8%45.6%46.4%33.2%18.6%25.0%29.2%
Operating margin-196.8%-128.9%-136.9%-2594.3%-530.1%-123.0%-108.0%-139.8%-143.4%-83.5%
Net margin-192.1%-57.0%-106.8%-3172.6%-464.8%-119.2%-76.7%-290.2%-207.8%-89.6%
Free cash flow margin-211.2%-81.4%-37.2%-796.5%-3514.9%-53.3%-32.5%-85.0%-72.1%-23.2%
Return on equity-92.2%-24.1%-88.2%-557.8%-7.6%-115.4%-345.2%--250.3%-334.8%
Return on assets-85.5%-21.9%-51.3%-232.2%-6.3%-48.8%-50.9%-232.2%-31.4%-74.0%
Current ratio4.824.572.531.6615.060.360.290.361.080.71

Source: XBRL data DarkHorse Technologies Inc. files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-8, first reported Apr 1, 2019; 1-for-10, first reported Mar 27, 2026.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

DRK peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
DRK$10.12M-8.8%-$33.83M-334.2%$18.0M
AXP$77.59B+10.2%$12.26B15.8%$217.47B
SPGI$17.21B+18.2%$4.99B29.0%$136.57B
MCO$8.18B+9.0%$2.88B35.3%$88.11B
NU$15.77B+37.0%$2.87B18.2%$60.02B
RKT$11.46B+90.4%$1.30B11.4%$43.11B
COIN$5.63B-26.6%-$701.62M-12.5%$36.03B
AFRM$4.59B+32.7%$2.01B43.9%$23.06B
SYF$19.31B+2.6%$3.33B17.3%$22.80B

DRK FAQ

8 questions
  • What is DRK revenue?
    DarkHorse Technologies Inc. (DRK) reported $10.12M of revenue for the twelve months ended Sep 30, 2026. That is down 8.8% from the year before. Revenue for fiscal 2025 was $11.18M.
  • Is DRK profitable?
    No. DarkHorse Technologies Inc. reported a net loss of $33.83M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does DRK have?
    DarkHorse Technologies Inc. reported $8.82M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is DRK revenue growing?
    DarkHorse Technologies Inc.'s revenue changed -32.7% in fiscal 2025, to $11.18M. Its compound annual growth rate was +18.2% over 5 years and -17.5% over 10 years.
  • What is DRK gross margin?
    DarkHorse Technologies Inc.'s gross profit was $786.0K on $10.12M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 7.8%.
  • What is DRK free cash flow?
    DarkHorse Technologies Inc. generated -$20.23M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$16.23M less capital expenditures.
  • When did DRK last report financial results?
    The latest statements here come from DarkHorse Technologies Inc.'s 10-Q filed on Nov 6, 2026, covering the period ended Sep 30, 2026.
  • Where does this DRK financial data come from?
    Quantisnow builds these statements from the structured XBRL data DarkHorse Technologies Inc. files with the SEC. It is provided for information only and is not investment advice.