Revenue growth remains highly erratic, evidenced by a 16,974.9% year-over-year surge in 2026Q1 that follows multiple quarters of near-zero activity, complicating the assessment of underlying operational profitability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Sales/Revenue | 8.32M | 6.19M | 639.89K | 26.11M | 50.62M | 55.42M | 47.99M | 37.61M | 32.32M | 29.42M | 17.83M | 10.79M | 11.9M | 11.24M | 14.69M | 12.67M | 13.3M | 10.74M | 14.46M |
| Revenue Growth % | 6652284% | 867.91% | -97.55% | -48.43% | -8.66% | 15.49% | 27.58% | 16.37% | 9.87% | 64.95% | 65.28% | -9.34% | 5.87% | -23.48% | 15.93% | -4.71% | 23.81% | -25.72% | - |
| Cost of Goods Sold | 1.47M | 840.02K | 432.63K | 25.64M | 38.7M | 37.89M | 34.38M | 26.71M | 20.68M | 19.18M | 12.47M | 7.39M | 8.41M | 8.14M | 11.06M | 9.37M | 9.02M | 7.74M | 11.47M |
| COGS % of Revenue | - | 13.56% | 67.61% | 98.2% | 76.44% | 68.37% | 71.65% | 71.01% | 63.98% | 65.19% | 69.91% | 68.47% | 70.67% | 72.4% | 75.26% | 73.94% | 67.82% | 72.06% | 79.31% |
| Gross Profit | 6.85M | 5.35M | 207.26K | 470.89K | 11.93M | 17.53M | 13.61M | 10.91M | 11.64M | 10.24M | 5.37M | 3.4M | 3.49M | 3.1M | 3.63M | 3.3M | 4.28M | 3M | 2.99M |
| Gross Margin % | 82.36% | 86.44% | 32.39% | 1.8% | 23.56% | 31.63% | 28.35% | 28.99% | 36.02% | 34.81% | 30.09% | 31.53% | 29.33% | 27.6% | 24.74% | 26.06% | 32.18% | 27.94% | 20.69% |
| Gross Profit Growth % | - | 2483.05% | -55.99% | -96.05% | -31.97% | 28.83% | 24.77% | -6.34% | 13.7% | 90.81% | 57.76% | -2.55% | 12.54% | -14.64% | 10.02% | -22.82% | 42.6% | 0.32% | - |
| Operating Expenses | 4.5M | 3.8M | 4.44M | 17.68M | 26.97M | 20.85M | 18.43M | 14.13M | 11.59M | 11.45M | 8.25M | 4.14M | 3.63M | 3.81M | 4.31M | 4.24M | 4.37M | 5.61M | 6.93M |
| OpEx % of Revenue | - | 61.4% | 694.31% | 67.71% | 53.28% | 37.61% | 38.4% | 37.56% | 35.86% | 38.93% | 46.27% | 38.39% | 30.51% | 33.88% | 29.36% | 33.49% | 32.84% | 52.25% | 47.95% |
| Selling, General & Admin | 4.45M | 3.76M | 2.13M | 14.23M | 21.15M | 14.68M | 14.6M | 11.89M | 9.82M | 8.68M | 6.73M | 2.8M | 2.5M | 2.89M | 3.16M | 3.24M | 3.24M | 4.24M | 5.21M |
| SG&A % of Revenue | - | 60.64% | 332.65% | 54.51% | 41.77% | 26.49% | 30.42% | 31.61% | 30.38% | 29.5% | 37.73% | 25.95% | 20.99% | 25.7% | 21.5% | 25.54% | 24.36% | 39.46% | 36.05% |
| Research & Development | 54.01K | 47.42K | 113.29K | 3.45M | 5.83M | 6.17M | 3.83M | 2.24M | 1.77M | 1.95M | 1.52M | 1.34M | 1.13M | 920K | 1.16M | 1.01M | 1.13M | 1.37M | 1.72M |
| R&D % of Revenue | - | 0.77% | 17.71% | 13.2% | 11.51% | 11.12% | 7.98% | 5.95% | 5.48% | 6.61% | 8.53% | 12.44% | 9.52% | 8.18% | 7.86% | 7.96% | 8.48% | 12.79% | 11.9% |
| Other Operating Expenses | 0 | 0 | 2.2M | 0 | 2K | 89 | 0 | 0 | -101K | -140K | 12.58K | 11 | 9 | 12 | 0 | 9 | 9 | 0 | 0 |
| Operating Income | 2.35M | 1.55M | -4.24M | -17.21M | -15.05M | -3.32M | -4.82M | -3.22M | 53K | -1.21M | -2.88M | -740K | -140K | -707K | -680K | -941.54K | -87.5K | -2.61M | -3.6M |
| Operating Margin % | 28.24% | 25.03% | -661.92% | -65.91% | -29.72% | -5.98% | -10.04% | -8.56% | 0.16% | -4.12% | -16.17% | -6.86% | -1.18% | -6.29% | -4.63% | -7.43% | -0.66% | -24.31% | -24.9% |
| Operating Income Growth % | - | 136.61% | 75.38% | -14.36% | -353.6% | 31.18% | -49.63% | -6177.78% | 104.37% | 57.98% | -289.73% | -428.57% | 80.2% | -3.97% | 27.78% | -976.1% | 96.65% | 27.49% | - |
| EBITDA | 3.14M | 2.04M | -3.87M | -16.44M | -14.35M | -2.79M | -4.45M | -2.61M | 398.08K | -711.92K | -2.34M | -618.97K | -130.95K | -697.22K | -665.92K | -917.99K | -61.07K | -2.55M | -3.51M |
| EBITDA Margin % | 37.74% | 32.97% | -604.07% | -62.99% | -28.35% | -5.04% | -9.27% | -6.95% | 1.23% | -2.42% | -13.12% | -5.74% | -1.1% | -6.2% | -4.53% | -7.24% | -0.46% | -23.75% | -24.3% |
| EBITDA Growth % | 364.17% | 152.82% | 76.49% | -14.6% | -413.96% | 37.23% | -70.22% | -756.39% | 155.92% | 69.57% | -277.93% | -372.67% | 81.22% | -4.7% | 27.46% | -1403.25% | 97.61% | 27.38% | - |
| D&A (Non-Cash Add-back) | 790.38K | 491.35K | 370.18K | 763.11K | 697.06K | 525.14K | 372.18K | 608.3K | 345.08K | 500.08K | 544.69K | 121.03K | 9.05K | 9.78K | 14.08K | 23.55K | 26.43K | 59.54K | 87.77K |
| EBIT | 2.35M | 1.55M | -4.24M | -17.21M | -15.04M | -1.86M | -3.78M | -3.2M | 29.92K | -1.25M | -2.87M | -753.41K | 206.79K | -706.68K | -679.88K | -941.54K | -87.5K | -2.61M | -3.94M |
| Net Interest Income | -2.92K | -8.95K | 82 | -383.4K | -394.16K | -226.24K | -47.47K | -34.43K | -78.11K | -98.66K | -54.2K | -71.92K | -77.19K | 39 | 112 | 2.31K | 552 | 4.04K | 54.08K |
| Interest Income | 0 | 0 | 82 | 2.55K | 457 | 44.17K | 1.08K | 13.97K | 285 | 100 | 254 | 444 | 33 | 39 | 112 | 2.31K | 552 | 4.04K | 54.08K |
| Interest Expense | 2.92K | 8.95K | 0 | 385.95K | 394.62K | 270.41K | 48.55K | 48.4K | 78.4K | 98.76K | 54.45K | 72.36K | 77.22K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 34.81K | -29.88K | 82 | -384.71K | -391.24K | 1.18M | 988.59K | -29.71K | -101.16K | -140.01K | -41.62K | -85.5K | 268.55K | -354.36K | -49.07K | 73.55K | 357.46K | 39.45K | -545.79K |
| Pretax Income | 2.38M | 1.52M | -4.24M | -17.59M | -15.44M | -2.13M | -3.83M | -3.25M | -48K | -1.35M | -2.93M | -826K | 129K | -1.06M | -729K | -867.98K | 269.97K | -2.57M | -4.15M |
| Pretax Margin % | 28.66% | 24.55% | -661.91% | -67.38% | -30.5% | -3.85% | -7.98% | -8.64% | -0.15% | -4.6% | -16.41% | -7.66% | 1.08% | -9.44% | -4.96% | -6.85% | 2.03% | -23.94% | -28.68% |
| Income Tax | 585.03K | 448.2K | -11.22K | 42.62K | 112K | 64K | 27K | 24.86K | 26K | 15K | 7K | 7K | 7K | 4K | 3K | 2.07K | 1.78K | 5.1K | 12.92K |
| Effective Tax Rate % | 24.55% | 29.47% | 0.26% | -0.24% | -0.73% | -3% | -0.7% | -0.76% | -54.17% | -1.11% | -0.24% | -0.85% | 5.43% | -0.38% | -0.41% | -0.24% | 0.66% | -0.2% | -0.31% |
| Net Income | 1.8M | 1.07M | -4.22M | -17.63M | -15.55M | -2.2M | -3.86M | -3.28M | -74K | -1.37M | -2.93M | -833K | 122.49K | -1.06M | -732K | -870.05K | 268.19K | -2.58M | -4.16M |
| Net Margin % | 21.62% | 17.32% | -660.15% | -67.55% | -30.72% | -3.97% | -8.04% | -8.71% | -0.23% | -4.65% | -16.45% | -7.72% | 1.03% | -9.47% | -4.98% | -6.87% | 2.02% | -23.99% | -28.77% |
| Net Income Growth % | 234.25% | 125.39% | 76.04% | -13.41% | -607.09% | 43% | -17.77% | -4326.76% | 94.59% | 53.39% | -252.1% | -780.08% | 111.5% | -45.49% | 15.87% | -424.42% | 110.41% | 38.06% | - |
| Net Income (Continuing) | 1.8M | 1.07M | -4.22M | -17.63M | -15.55M | -2.2M | -3.86M | -3.28M | -74.28K | -1.37M | -2.93M | -833.14K | 122.49K | -1.06M | -732.34K | -870.05K | 268.19K | -2.58M | -4.16M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.17 | 0.10 | -1.34 | -9.08 | -8.38 | -2.25 | -3.81 | -4.54 | -0.12 | -2.29 | -5.27 | -2.20 | 0.50 | -3.47 | -2.52 | -3.71 | 3.12 | -31.54 | -53.36 |
| EPS Growth % | 122.83% | 107.18% | 85.24% | -8.35% | -272.44% | 40.94% | 16.08% | -3683.33% | 94.76% | 56.55% | -139.55% | -540% | 114.41% | -37.7% | 32.08% | -218.91% | 109.89% | 40.89% | - |
| EPS (Basic) | - | 0.12 | -1.34 | -9.08 | -8.38 | -2.25 | -3.81 | -4.54 | -0.12 | -2.29 | -5.27 | -2.20 | 0.50 | -3.62 | -2.52 | -3.71 | 3.12 | -31.54 | -53.36 |
| Diluted Shares Outstanding | 10.44M | 7.08M | 3.16M | 1.94M | 1.86M | 1.59M | 1.01M | 722.04K | 638.27K | 596.69K | 556.32K | 378.83K | 319.31K | 307.07K | 290.82K | 234.26K | 86.46K | 81.69K | 77.96K |
| Basic Shares Outstanding | 7.94M | 5.62M | 3.16M | 1.94M | 1.86M | 1.59M | 1.01M | 722.04K | 638.27K | 596.69K | 556.32K | 378.83K | 319.31K | 294.54K | 290.82K | 234.26K | 86.18K | 81.69K | 77.96K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Extreme Revenue Volatility
As reported in recent financial filings, FIEE experienced a massive 16,974.9% year-over-year revenue surge in 2026Q1, yet this follows multiple quarters of near-zero revenue, suggesting that the current growth trajectory is likely driven by accounting resets or non-recurring events rather than sustainable organic demand.
The extreme volatility in top-line figures makes it difficult to establish a reliable growth baseline for the company. Investors should monitor whether these revenue spikes represent a permanent shift toward a recurring software model or merely the recognition of deferred items that fail to repeat in subsequent periods.
Based on the company's latest income statement, FIEE achieved an 88% gross margin in 2025Q4, indicating a successful pivot away from low-margin hardware manufacturing, though the sustainability of such high profitability remains questionable given the company's historical reliance on volatile product cycles.
The significant improvement in gross margins suggests that the firm has effectively transitioned toward a software-centric licensing model. However, the lack of consistent scale implies that these margins may be highly sensitive to future shifts in product mix or potential re-entry into hardware-heavy operations.
According to quarterly data, FIEE's operating income swung from a $2.7M profit in 2025Q4 to a $426.4K profit in 2026Q1, demonstrating that the company has yet to achieve the consistent operating leverage required to support its fixed cost base without significant revenue fluctuations.
The company's inability to maintain positive operating margins across consecutive quarters suggests that SG&A expenses remain disproportionately high relative to current revenue levels. This indicates that the business model is currently structured for a scale it has not yet achieved, leaving little room for operational error.
As noted in the provided financial statements, FIEE's recent profitability is heavily reliant on extreme margin expansion, which warrants skepticism as it may reflect one-time accounting gains rather than a fundamental improvement in the underlying economics of the communication equipment business.
Short-term profitability metrics appear disconnected from the company's historical performance, raising concerns about the quality of earnings. Investors should investigate whether these margins are sustainable or if they are artificially inflated by the timing of software revenue recognition and the absence of significant R&D investment.
Quick answers to the most common questions about buying FIEE stock.
For fiscal year 2025, FiEE, Inc. (FIEE) reported total revenue of $6.2M. This represents a 57.2% decline compared to $14.5M in 2008.
FiEE, Inc. (FIEE) is profitable, generating $1.1M in net income for the fiscal year ending 2025 with a net profit margin of 17.3%.
FiEE, Inc. (FIEE) reported an operating income of $1.6M, resulting in an operating profit margin of 25.0%. This margin reflects the operational efficiency of the business before interest and taxes.
FiEE, Inc. (FIEE) generated $5.4M in gross profit for the year, representing a gross profit margin of 86.4%. This demonstrates the company's core pricing power and production efficiency.