iOThree Limited Ordinary Shares (IOTR) 10-Year Financial Performance & Capital Metrics

IOTR • • Industrial / General

TechnologyCommunication EquipmentSatellite CommunicationsSatellite Service Providers

AboutiOThree Limited is a Singapore-based provider of maritime digital technologies, including satellite connectivity and digitalization solutions, aimed at facilitating the maritime industry’s digital transformation.Show more

Revenue $10M +22.3%
EBITDA $347K +2.9%
Net Income -$231K -5084.8%
EPS (Diluted) 0.00
Gross Margin 17.79% -17.4%
EBITDA Margin 3.31% -15.9%
Operating Margin -1.93% -400.0%
Net Margin -2.2% -4138.7%
ROE -12.39% -5819.0%
ROIC -7.89% -638.9%
Debt/Equity 0.41 -3.0%
Interest Coverage -5.84 -531.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 10 (bottom 10%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y39.21%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg12.69%

5Y Avg12.69%

3Y Avg11.81%

Latest-9.33%

Peer Comparison

Satellite Service Providers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
TSATTelesat Corporation	495.93M	33.77	-5.37	-18.9%	-34.52%	-6.5%	1.25
VSATViasat, Inc.	5.97B	44.11	-9.85	5.5%	-11.4%	-11.42%	1.62
KVHIKVH Industries, Inc.	142.88M	7.30	-12.81	-14.01%	-11.19%	-9.18%	0.01
ASTSAST SpaceMobile, Inc.	28.15B	101.25	-52.19		-16.4%	-18.69%	0.26
SATSEchoStar Corporation	19.34B	123.55	-280.80	-6.99%	-85.36%	-184.89%	1.47
IOTRiOThree Limited Ordinary Shares	2.21M	3.01		22.27%	-2.2%	-12.39%	0.41

Profit & Loss

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	3.88M	7.49M	8.57M	10.48M
Revenue Growth %	-	0.93%	0.14%	0.22%
Cost of Goods Sold+	2.86M	5.23M	6.72M	8.61M
COGS % of Revenue	0.74%	0.7%	0.78%	0.82%
Gross Profit+	1.03M	2.26M	1.85M	1.86M
Gross Margin %	0.26%	0.3%	0.22%	0.18%
Gross Profit Growth %	-	1.2%	-0.18%	0.01%
Operating Expenses+	755.18K	1.21M	1.88M	2.07M
OpEx % of Revenue	0.19%	0.16%	0.22%	0.2%
Selling, General & Admin	831.17K	1.2M	1.86M	2.05M
SG&A % of Revenue	0.21%	0.16%	0.22%	0.2%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	-75.98K	4.11K	18.59K	12.82K
Operating Income+	271.88K	1.05M	-33.15K	-202.65K
Operating Margin %	0.07%	0.14%	-0%	-0.02%
Operating Income Growth %	-	2.86%	-1.03%	-5.11%
EBITDA+	359.31K	1.29M	337.24K	346.95K
EBITDA Margin %	0.09%	0.17%	0.04%	0.03%
EBITDA Growth %	-	2.6%	-0.74%	0.03%
D&A (Non-Cash Add-back)	87.43K	245.18K	370.39K	549.61K
EBIT	280.37K	1.06M	-12.41K	-178.98K
Net Interest Income+	-4.09K	-9.84K	-15.09K	-11.03K
Interest Income	8.49K	14.11K	20.74K	23.67K
Interest Expense	12.59K	23.95K	35.83K	34.7K
Other Income/Expense	-4.09K	-9.84K	-15.09K	-11.03K
Pretax Income+	267.78K	1.04M	-48.24K	-213.69K
Pretax Margin %	0.07%	0.14%	-0.01%	-0.02%
Income Tax+	28.33K	115.37K	-43.79K	16.83K
Effective Tax Rate %	0.89%	0.89%	0.09%	1.08%
Net Income+	239.46K	924.16K	-4.45K	-230.51K
Net Margin %	0.06%	0.12%	-0%	-0.02%
Net Income Growth %	-	2.86%	-1%	-50.85%
Net Income (Continuing)	239.46K	924.16K	-4.45K	-230.51K
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	0.14	0.35	0.00	0.00
EPS Growth %	-	1.57%	-1%	-
EPS (Basic)	0.14	0.35	0.00	0.00
Diluted Shares Outstanding	1.73M	2.61M	2.56M	2.56M
Basic Shares Outstanding	1.73M	2.61M	2.56M	2.56M
Dividend Payout Ratio	0.19%	0.09%	-	-

Balance Sheet

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	2.34M	3.87M	4.43M	4.13M
Cash & Short-Term Investments	211.75K	401.55K	995.09K	443.12K
Cash Only	211.75K	401.55K	995.09K	443.12K
Short-Term Investments	0	0	0	0
Accounts Receivable	1.67M	2.29M	2.53M	3M
Days Sales Outstanding	157.38	111.82	107.63	104.37
Inventory	453.87K	1.18M	912.43K	690.52K
Days Inventory Outstanding	57.98	82.06	49.53	29.26
Other Current Assets	0	0	0	0
Total Non-Current Assets+	619.4K	1.17M	1.42M	1.54M
Property, Plant & Equipment	113.79K	473.81K	643.91K	874.26K
Fixed Asset Turnover	34.13x	15.80x	13.31x	11.99x
Goodwill	0	0	0	0
Intangible Assets	393.02K	446.77K	409.77K	367.94K
Long-Term Investments	0	0	0	0
Other Non-Current Assets	112.59K	246.62K	364.65K	294.5K
Total Assets+	2.96M	5.04M	5.85M	5.67M
Asset Turnover	1.31x	1.49x	1.46x	1.85x
Asset Growth %	-	0.7%	0.16%	-0.03%
Total Current Liabilities+	1.19M	2.26M	3.51M	3.67M
Accounts Payable	265.96K	842.47K	1.05M	977.46K
Days Payables Outstanding	33.98	58.78	57.24	41.42
Short-Term Debt	40.75K	45.13K	44.49K	46.98K
Deferred Revenue (Current)	202.5K	371.61K	1000K	1000K
Other Current Liabilities	0	0	0	0
Current Ratio	1.97x	1.72x	1.27x	1.13x
Quick Ratio	1.59x	1.20x	1.00x	0.94x
Cash Conversion Cycle	181.39	135.1	99.92	92.21
Total Non-Current Liabilities+	346.85K	510.73K	371.37K	253K
Long-Term Debt	169.15K	124.27K	81.8K	36.57K
Capital Lease Obligations	177.7K	386.45K	289.57K	216.43K
Deferred Tax Liabilities	0	0	0	0
Other Non-Current Liabilities	0	0	0	0
Total Liabilities	1.53M	2.77M	3.88M	3.92M
Total Debt+	572.91K	958.73K	845.31K	724.05K
Net Debt	361.16K	557.18K	-149.79K	280.94K
Debt / Equity	0.40x	0.42x	0.43x	0.41x
Debt / EBITDA	1.59x	0.74x	2.51x	2.09x
Net Debt / EBITDA	1.01x	0.43x	-0.44x	0.81x
Interest Coverage	21.60x	43.81x	-0.93x	-5.84x
Total Equity+	1.43M	2.27M	1.98M	1.75M
Equity Growth %	-	0.59%	-0.13%	-0.12%
Book Value per Share	0.82	0.87	0.77	0.68
Total Shareholders' Equity	1.43M	2.27M	1.98M	1.75M
Common Stock	150K	150K	150K	150K
Retained Earnings	624.78K	1.47M	1.17M	942.84K
Treasury Stock	0	0	0	0
Accumulated OCI	0	0	0	0
Minority Interest	0	0	0	0

Cash Flow

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	188.95K	725.95K	1.63M	488.1K
Operating CF Margin %	0.05%	0.1%	0.19%	0.05%
Operating CF Growth %	-	2.84%	1.25%	-0.7%
Net Income	267.78K	1.04M	-48.24K	-213.69K
Depreciation & Amortization	87.43K	245.18K	370.39K	549.61K
Stock-Based Compensation	0	0	0	0
Deferred Taxes	0	0	0	0
Other Non-Cash Items	6.86K	20.71K	7.52K	-2.86K
Working Capital Changes	-173.12K	-579.47K	1.3M	155.04K
Change in Receivables	-337.18K	-527.48K	-89.75K	-274.28K
Change in Inventory	-166.48K	-740.76K	263.74K	221.91K
Change in Payables	-97.59K	767.96K	213.35K	-77.17K
Cash from Investing+	-480.09K	-119.18K	-491.37K	-581.05K
Capital Expenditures	-87.07K	-7.18K	-468.36K	-548.74K
CapEx % of Revenue	0.02%	0%	0.05%	0.05%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	-393.02K	-112K	-23.01K	-32.31K
Cash from Financing+	239.72K	-410.34K	-539.19K	-465.53K
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	-44.47K	-78.64K	-277.89K	0
Share Repurchases	-	-	-	-
Other Financing	0	0	-836.29K	-185.12K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-291.13K	606.77K	1.14M	-92.95K
FCF Margin %	-0.07%	0.08%	0.13%	-0.01%
FCF Growth %	-	3.08%	0.88%	-1.08%
FCF per Share	-0.17	0.23	0.44	-0.04
FCF Conversion (FCF/Net Income)	0.79x	0.79x	-366.94x	-2.12x
Interest Paid	18.6K	29.33K	35.83K	34.7K
Taxes Paid	26.69K	55.26K	48.62K	17.22K

Key Ratios

Metric	2022	2023	2024	2025
Return on Equity (ROE)	16.78%	49.95%	-0.21%	-12.39%
Return on Invested Capital (ROIC)	11.4%	34.08%	-1.07%	-7.89%
Gross Margin	26.44%	30.13%	21.54%	17.79%
Net Margin	6.17%	12.34%	-0.05%	-2.2%
Debt / Equity	0.40x	0.42x	0.43x	0.41x
Interest Coverage	21.60x	43.81x	-0.93x	-5.84x
FCF Conversion	0.79x	0.79x	-366.94x	-2.12x
Revenue Growth	-	92.77%	14.46%	22.27%

Revenue by Geography

	2025
SINGAPORE	5.23M
SINGAPORE Growth	-
ISRAEL	1.32M
ISRAEL Growth	-
MALAYSIA	1.13M
MALAYSIA Growth	-
Other Countries Member	770.03K
Other Countries Member Growth	-
VIET NAM	675.19K
VIET NAM Growth	-
INDONESIA	398.98K
INDONESIA Growth	-
THAILAND	295.81K
THAILAND Growth	-
CHINA	239.12K
CHINA Growth	-

Frequently Asked Questions

Growth & Financials

iOThree Limited Ordinary Shares (IOTR) reported $10.5M in revenue for fiscal year 2025. This represents a 170% increase from $3.9M in 2022.

iOThree Limited Ordinary Shares (IOTR) grew revenue by 22.3% over the past year. This is strong growth.

iOThree Limited Ordinary Shares (IOTR) reported a net loss of $0.2M for fiscal year 2025.

Dividend & Returns

iOThree Limited Ordinary Shares (IOTR) has a return on equity (ROE) of -12.4%. Negative ROE indicates the company is unprofitable.

iOThree Limited Ordinary Shares (IOTR) had negative free cash flow of $0.1M in fiscal year 2025, likely due to heavy capital investments.

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