Empery Digital Inc. (EMPD) 10-Year Financial Performance & Capital Metrics

EMPD • • Industrial / General

Consumer CyclicalRecreational VehiclesElectric Mobility & ComponentsElectric Vehicle & Powertrain Developers

AboutEmpery Digital Inc., previously known as Volcon, Inc., is based in Round Rock, Texas, and originally specialized in electric off-road vehicles such as e-bikes, utility vehicles, and golf carts. In July 2025, the company rebranded as Empery Digital to focus on bitcoin treasury strategy while maintaining its power sports business under the Empery Mobility brand.Show more

Revenue $4M +23.8%
EBITDA -$26M +10.0%
Net Income -$46M -1.0%
EPS (Diluted) -1175.20 +99.6%
Gross Margin -350.02% -40.4%
EBITDA Margin -650.33% +27.3%
Operating Margin -669.13% +26.8%
Net Margin -1127.28% +18.4%
ROE -111651.6%
ROIC -1652.25% -358.4%
Debt/Equity 19.89
Interest Coverage -41.97 -600.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 19.9x
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y107.97%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-796.08%

5Y Avg-796.08%

3Y Avg-901%

Latest-1699.32%

Peer Comparison

Electric Vehicle & Powertrain Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
EMPDEmpery Digital Inc.	162.92M	4.82	-0.00	23.8%	-17.58%	-10.54%	19.89
EZGOEZGO Technologies Ltd.	42.4M	2.03	-0.03	32.75%	-27.07%	-18.15%	0.24
REEREE Automotive Ltd.	21.66M	0.76	-0.11	-88.62%	-483.57%	-278.44%	2.19
VMARVision Marine Technologies Inc.	4.69M	5.07	-8.31	395.85%	-73.24%	-438.83%	1.07

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	448.82K	4.55M	3.26M	4.04M
Revenue Growth %	-	9.13%	-0.28%	0.24%
Cost of Goods Sold+	10.51M	13.41M	11.39M	18.17M
COGS % of Revenue	23.41%	2.95%	3.49%	4.5%
Gross Profit+	-10.06M	-8.87M	-8.13M	-14.13M
Gross Margin %	-22.41%	-1.95%	-2.49%	-3.5%
Gross Profit Growth %	-	0.12%	0.08%	-0.74%
Operating Expenses+	29.12M	23.2M	21.66M	12.88M
OpEx % of Revenue	64.88%	5.1%	6.64%	3.19%
Selling, General & Admin	18.66M	14.74M	13.79M	10.21M
SG&A % of Revenue	41.57%	3.24%	4.23%	2.53%
Research & Development	10.47M	8.46M	7.87M	2.67M
R&D % of Revenue	23.32%	1.86%	2.41%	0.66%
Other Operating Expenses	0	0	0	0
Operating Income+	-39.18M	-32.06M	-29.79M	-27.01M
Operating Margin %	-87.3%	-7.05%	-9.14%	-6.69%
Operating Income Growth %	-	0.18%	0.07%	0.09%
EBITDA+	-38.59M	-30.87M	-29.17M	-26.25M
EBITDA Margin %	-85.99%	-6.79%	-8.95%	-6.5%
EBITDA Growth %	-	0.2%	0.05%	0.1%
D&A (Non-Cash Add-back)	585.62K	1.19M	618.98K	759.12K
EBIT	-40.03M	-31.98M	-40.1M	-44.87M
Net Interest Income+	-91.24K	-2.26M	-4.97M	-643.72K
Interest Income	0	0	0	0
Interest Expense	91.24K	2.26M	4.97M	643.72K
Other Income/Expense	-945.26K	-2.17M	-15.28M	-18.5M
Pretax Income+	-40.13M	-34.24M	-45.07M	-45.51M
Pretax Margin %	-89.4%	-7.53%	-13.82%	-11.27%
Income Tax+	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%
Net Income+	-40.13M	-34.24M	-45.07M	-45.51M
Net Margin %	-89.4%	-7.53%	-13.82%	-11.27%
Net Income Growth %	-	0.15%	-0.32%	-0.01%
Net Income (Continuing)	-40.13M	-34.24M	-45.07M	-45.51M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	-999999.00	-999999.00	-281695.07	-1175.20
EPS Growth %	-	0.36%	0.87%	1%
EPS (Basic)	-999999.00	-999999.00	-281695.07	-1175.20
Diluted Shares Outstanding	12	16	160	38.72K
Basic Shares Outstanding	12	16	160	38.72K
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.88M	20.33M	19.53M	5.07M
Cash & Short-Term Investments	5.57M	10.99M	7.98M	2.19M
Cash Only	5.57M	10.99M	7.98M	2.19M
Short-Term Investments	0	0	0	0
Accounts Receivable	25.59K	864.96K	203.3K	88.25K
Days Sales Outstanding	20.81	69.44	22.76	7.98
Inventory	2.21M	5.65M	8.97M	1.46M
Days Inventory Outstanding	76.74	153.64	287.52	29.24
Other Current Assets	1.09M	2.4M	2.11M	1.14M
Total Non-Current Assets+	3.74M	2.4M	2.59M	1.16M
Property, Plant & Equipment	2.99M	2.11M	2.39M	945.37K
Fixed Asset Turnover	0.15x	2.16x	1.36x	4.27x
Goodwill	0	0	0	0
Intangible Assets	18.05K	5.81K	0	15.7K
Long-Term Investments	0	0	0	0
Other Non-Current Assets	732.81K	285.04K	199.28K	199.28K
Total Assets+	14.62M	22.73M	22.13M	6.23M
Asset Turnover	0.03x	0.20x	0.15x	0.65x
Asset Growth %	-	0.55%	-0.03%	-0.72%
Total Current Liabilities+	6.48M	20.9M	40.91M	4.64M
Accounts Payable	1.45M	1.04M	831.18K	385.33K
Days Payables Outstanding	50.51	28.21	26.63	7.74
Short-Term Debt	17.2K	17.37M	30.16M	7.18K
Deferred Revenue (Current)	1000K	23.47K	417.49K	216.52K
Other Current Liabilities	0	0	5.97M	2.2M
Current Ratio	1.68x	0.97x	0.48x	1.09x
Quick Ratio	1.34x	0.70x	0.26x	0.78x
Cash Conversion Cycle	47.03	194.87	283.65	29.48
Total Non-Current Liabilities+	1.84M	1.19M	844.31K	1.55M
Long-Term Debt	68.78K	50.12K	69.14K	28.53K
Capital Lease Obligations	1.77M	1.14M	775.17K	331.22K
Deferred Tax Liabilities	0	0	0	0
Other Non-Current Liabilities	0	0	0	1.19M
Total Liabilities	8.32M	22.09M	41.76M	6.19M
Total Debt+	2.31M	18.96M	31.41M	810.89K
Net Debt	-3.26M	7.97M	23.43M	-1.38M
Debt / Equity	0.37x	29.85x	-	19.89x
Debt / EBITDA	-	-	-	-
Net Debt / EBITDA	-	-	-	-
Interest Coverage	-429.42x	-14.19x	-6.00x	-41.97x
Total Equity+	6.3M	635.01K	-19.63M	40.76K
Equity Growth %	-	-0.9%	-31.91%	1%
Book Value per Share	525354.08	39688.31	-122693.88	1.05
Total Shareholders' Equity	6.3M	635.01K	-19.63M	40.76K
Common Stock	128	0	0	7
Retained Earnings	-41.5M	-75.73M	-120.81M	-166.32M
Treasury Stock	0	0	0	0
Accumulated OCI	0	0	0	0
Minority Interest	0	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-24.16M	-33.65M	-29.57M	-16.04M
Operating CF Margin %	-53.83%	-7.4%	-9.07%	-3.97%
Operating CF Growth %	-	-0.39%	0.12%	0.46%
Net Income	-40.13M	-34.24M	-45.07M	-45.51M
Depreciation & Amortization	585.62K	1.19M	618.98K	759.12K
Stock-Based Compensation	14.63M	3.26M	2.63M	310.96K
Deferred Taxes	0	0	0	0
Other Non-Cash Items	6.49M	4.56M	18.31M	28.6M
Working Capital Changes	-5.74M	-8.42M	-6.05M	-198.25K
Change in Receivables	-25.59K	-839.37K	555.97K	85.5K
Change in Inventory	-4.16M	-5.13M	-7.61M	-933.84K
Change in Payables	1.37M	-417.48K	-205.44K	-445.86K
Cash from Investing+	-838.03K	-799.41K	-860.72K	-230.31K
Capital Expenditures	-824.9K	-799.41K	-949.72K	-312.09K
CapEx % of Revenue	1.84%	0.18%	0.29%	0.08%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	-13.13K	0	89K	81.78K
Cash from Financing+	30.03M	40.41M	27.08M	10.37M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	2.21M	7.22M	18.43M	134.02K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-25M	-34.45M	-30.52M	-16.35M
FCF Margin %	-55.7%	-7.58%	-9.36%	-4.05%
FCF Growth %	-	-0.38%	0.11%	0.46%
FCF per Share	-999999.00	-999999.00	-190736.34	-422.21
FCF Conversion (FCF/Net Income)	0.60x	0.98x	0.66x	0.35x
Interest Paid	23.05K	6.48K	15.94K	88.71K
Taxes Paid	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	-636.48%	-986.72%	-	-111651.6%
Return on Invested Capital (ROIC)	-	-412.95%	-360.41%	-1652.25%
Gross Margin	-2241.13%	-195%	-249.31%	-350.02%
Net Margin	-8940.15%	-752.97%	-1382.13%	-1127.28%
Debt / Equity	0.37x	29.85x	-	19.89x
Interest Coverage	-429.42x	-14.19x	-6.00x	-41.97x
FCF Conversion	0.60x	0.98x	0.66x	0.35x
Revenue Growth	-	913.03%	-28.28%	23.8%

Frequently Asked Questions

Growth & Financials

Empery Digital Inc. (EMPD) reported $2.6M in revenue for fiscal year 2024. This represents a 485% increase from $0.4M in 2021.

Empery Digital Inc. (EMPD) grew revenue by 23.8% over the past year. This is strong growth.

Empery Digital Inc. (EMPD) reported a net loss of $46.1M for fiscal year 2024.

Dividend & Returns

Empery Digital Inc. (EMPD) has a return on equity (ROE) of -111651.6%. Negative ROE indicates the company is unprofitable.

Empery Digital Inc. (EMPD) had negative free cash flow of $470.5M in fiscal year 2024, likely due to heavy capital investments.

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