Revenue remains erratic with a negligible base of $83.3K in 2026Q3, while the company struggles with an operating margin of -8.2% despite accounting anomalies that often report 100% gross margins.
| Sales/Revenue | 341.44K | 110.46K | 166.88K | 845.01K | 697K | 674.58K | 59.75K | 14.92K | 0 |
| Revenue Growth % | 313.64% | -33.81% | -80.25% | 21.24% | 3.32% | 1029.02% | 300.46% | - | - |
| Cost of Goods Sold | 139.11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 141.46K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | 202.32K | 110.46K | 166.88K | 845.01K | 697K | 674.58K | 59.75K | 0 | -141.46K |
| Gross Margin % | 59.26% | 100% | 100% | 100% | 100% | 100% | 100% | - | - |
| Gross Profit Growth % | - | -33.81% | -80.25% | 21.24% | 3.32% | 1029.02% | - | 100% | - |
| Operating Expenses | 3.15M | 3.71M | 4.75M | 5.07M | 9.75M | 8.65M | 3.28M | 3.83M | 838.74K |
| OpEx % of Revenue | - | 3362.4% | 2844.26% | 599.94% | 1399.36% | 1282.07% | 5486.22% | 25638.75% | - |
| Selling, General & Admin | 2.72M | 3.02M | 3.67M | 3.55M | 6.69M | 6.37M | 2.8M | 3.08M | 762.75K |
| SG&A % of Revenue | - | 2736.69% | 2200.49% | 419.64% | 960.34% | 944.59% | 4679.51% | 20646.12% | - |
| Research & Development | 504.43K | 691.15K | 508.32K | 657.14K | 845.63K | 2.28M | 482K | 151.44K | 0 |
| R&D % of Revenue | - | 625.71% | 304.6% | 77.77% | 121.32% | 337.48% | 806.71% | 1014.99% | - |
| Other Operating Expenses | -74.08K | 0 | 566.01K | 866.41K | 2.21M | 0 | 0 | 0 | 0 |
| Operating Income | -2.95M | -3.6M | -4.58M | -4.22M | -9.06M | -7.97M | -3.22M | -3.97M | -980.2K |
| Operating Margin % | -863.74% | -3262.4% | -2744.26% | -499.94% | -1299.36% | -1182.07% | -5386.22% | -26610.27% | - |
| Operating Income Growth % | - | 21.31% | -8.41% | 53.35% | -13.58% | -147.78% | 18.94% | -305.04% | - |
| EBITDA | -2.65M | -3.17M | -4.05M | -3.54M | -8.18M | -7.22M | -3.18M | -3.81M | -977.47K |
| EBITDA Margin % | -775.4% | -2869.67% | -2424.47% | -419.17% | -1173.73% | -1070.67% | -5318.84% | -25538.75% | - |
| EBITDA Growth % | 24.45% | 21.66% | -14.23% | 56.7% | -13.27% | -127.27% | 16.6% | -289.82% | - |
| D&A (Non-Cash Add-back) | 301.64K | 433.8K | 533.67K | 682.49K | 875.6K | 751.5K | 40.26K | 159.87K | 2.73K |
| EBIT | -2.98M | -3.62M | -4.4M | -4.15M | -9.05M | -7.97M | -4.08M | -3.94M | -980.2K |
| Net Interest Income | 63.13K | 77.4K | 176.47K | 72.82K | -3.4K | -3.61M | -87.92K | 31.32K | 0 |
| Interest Income | 63.13K | 77.4K | 176.47K | 72.82K | 9.23K | 1.59K | 17.16K | 31.32K | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 12.63K | 3.61M | 105.08K | 0 | 0 |
| Other Income/Expense | -27.73K | -13.47K | 176.47K | 71.2K | -3.4K | -3.61M | -952.09K | 31.32K | 0 |
| Pretax Income | -2.98M | -3.62M | -4.4M | -4.15M | -9.06M | -11.59M | -4.17M | -3.94M | -980.2K |
| Pretax Margin % | -871.86% | -3274.6% | -2638.52% | -491.51% | -1299.85% | -1717.56% | -6979.7% | -26400.34% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -2.98M | -3.62M | -4.4M | -4.15M | -9.06M | -11.59M | -4.17M | -3.94M | -980.2K |
| Net Margin % | -871.86% | -3274.6% | -2638.52% | -491.51% | -1299.85% | -1717.56% | -6979.7% | -26400.34% | - |
| Net Income Growth % | 23.16% | 17.85% | -6.02% | 54.16% | 21.8% | -177.83% | -5.87% | -301.85% | - |
| Net Income (Continuing) | -2.98M | -3.62M | -4.4M | -4.15M | -9.06M | -11.59M | -4.17M | -3.94M | -980.2K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.64 | -1.03 | -1.73 | -1.68 | -4.68 | -8.87 | -3.16 | -3.14 | -0.90 |
| EPS Growth % | 54.86% | 40.46% | -2.98% | 64.1% | 47.24% | -180.7% | -0.64% | -248.89% | - |
| EPS (Basic) | - | -1.03 | -1.73 | -1.68 | -4.68 | -8.87 | -3.16 | -3.14 | -0.90 |
| Diluted Shares Outstanding | 4.62M | 3.53M | 2.54M | 2.47M | 1.94M | 1.71M | 1.35M | 1.25M | 1.09M |
| Basic Shares Outstanding | 4.62M | 3.53M | 2.54M | 2.47M | 1.94M | 1.71M | 1.35M | 1.25M | 1.09M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Capital exhaustion and dilution
According to the provided quarterly income statements, Amesite's revenue trajectory remains highly erratic, with recent figures showing a 171.5% year-over-year increase in 2026Q3, yet the absolute revenue base remains negligible at $83.3K, suggesting that growth is driven by lumpy, non-recurring project work rather than scalable subscription adoption.
The extreme quarter-to-quarter fluctuations in top-line performance indicate a lack of predictable recurring revenue streams. Investors should monitor whether these spikes represent sustainable client acquisition or merely isolated, low-margin consulting engagements that fail to build long-term enterprise value.
As reported in financial filings, Amesite consistently records a 100% gross margin in most periods, a figure that appears fundamentally disconnected from the operational reality of hosting and maintaining a software-as-a-service platform, implying that variable delivery costs are likely being misclassified as operating expenses.
This accounting treatment artificially inflates gross profitability while masking the true cost of service delivery. Without a clear breakdown of COGS, it is difficult to assess the company's actual pricing power or the efficiency of its cloud infrastructure relative to industry peers.
Based on the company's historical income statements, operating expenses consistently dwarf revenue, resulting in an operating margin of -3262% in recent periods, which demonstrates that the firm has failed to achieve any meaningful economies of scale despite its focus on proprietary AI-driven learning management systems.
The persistent gap between revenue generation and SG&A spend suggests that the current cost structure is misaligned with the company's market penetration. Management appears unable to scale the business without incurring proportional or higher increases in overhead, casting doubt on the viability of the current business model.
While the market may assign value to Amesite's intellectual property, the income statement data reveals a company that is essentially burning through its cash reserves, with net losses frequently exceeding total revenue, which suggests that the firm is currently a distressed asset rather than a growth-stage technology company.
Short-term volatility in revenue and the reliance on equity-based compensation to preserve cash indicate a high probability of further shareholder dilution. Investors should be wary of the disconnect between the company's AI-centric narrative and the lack of tangible financial progress in its core educational software business.
Quick answers to the most common questions about buying AMST stock.
For fiscal year 2025, Amesite Inc. (AMST) reported total revenue of $0.1M.
Amesite Inc. (AMST) reported a net loss of $3.6M for the fiscal year ending 2025.
Amesite Inc. (AMST) reported an operating income of $-3.6M, resulting in an operating profit margin of -3262.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Amesite Inc. (AMST) generated $0.1M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.