Movano Inc. (MOVE) 10-Year Financial Performance & Capital Metrics

MOVE • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics

AboutMovano Inc. engages in developing a platform to deliver healthcare solutions at the intersection of medtech and consumer devices. Its platform uses radiofrequency technology, which enables the creation of sensors that are small enough to fit into wearable devices and other small form factors. The company develops Movano Ring that measures heart rate, heart rate variability, sleep, respiration, temperature, blood oxygen saturation, steps, and calories, as well as incorporates women-centric features and design. It is also developing non-invasive continuous glucose monitoring and cuffless blood pressure monitoring features to its technology platform. The company was formerly known as Maestro Sensors Inc. and changed its name to Movano Inc. in August 2018. Movano Inc. was incorporated in 2018 and is based in Pleasanton, California.Show more

Revenue $1M
EBITDA -$24M +18.5%
Net Income -$24M +19.0%
EPS (Diluted) -0.39 +38.1%
Gross Margin -196.84%
EBITDA Margin -2374.73%
Operating Margin -2391.12%
Net Margin -2342.25%
ROE -439.23% +14.8%
ROIC -
Debt/Equity 0.03 -59.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Shares diluted 30.4% in last year
✗Trading more than 30% below 52-week high
✗Expensive at 57.6x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-44.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM32%

EPS CAGR

10Y-

5Y-

3Y-

TTM-206.87%

ROCE

10Y Avg-251.05%

5Y Avg-280.23%

3Y Avg-358.77%

Latest-425.06%

Peer Comparison

Point-of-Care Diagnostics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
PAVMPAVmed Inc.	8.06M	8.75	17.64	22.15%	-217914.55%	-245.07%
SMLRSemler Scientific, Inc.	310.75M	20.33	3.96	-17.44%	130.8%	10.51%	0.00
BJDXBluejay Diagnostics, Inc.	1.18M	0.65	-0.02			-185.51%	0.04
HSCSHeartSciences Inc.	10.17M	3.20	-0.34	-76.61%	-1042.38%	-216.05%	14.55
LUCDLucid Diagnostics Inc.	163.87M	1.25	-1.19	79%	-8.6%	-404.1%	3.94
BMRABiomerica, Inc.	8.09M	2.68	-1.24	-1.92%	-90.29%	-90.76%	0.11
MDAISpectral AI, Inc.	49.41M	1.61	-1.89	63.83%	-70.64%
CODXCo-Diagnostics, Inc.	6.12M	2.92	-2.35	-42.53%	-63.36%	-80.8%	0.04

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0	1.01M
Revenue Growth %	-	-	-	-	-	-	-
Cost of Goods Sold+	3K	11K	13K	74K	134K	158K	3.01M
COGS % of Revenue	-	-	-	-	-	-	2.97%
Gross Profit+	-3K	-11K	-13K	-74K	-134K	-158K	-1.99M
Gross Margin %	-	-	-	-	-	-	-1.97%
Gross Profit Growth %	-	-2.67%	-0.18%	-4.69%	-0.81%	-0.18%	-11.62%
Operating Expenses+	3.49M	8.5M	11.11M	19.8M	30.46M	29.53M	22.23M
OpEx % of Revenue	-	-	-	-	-	-	21.94%
Selling, General & Admin	604K	1.99M	2.73M	6.38M	11.47M	12.8M	11.03M
SG&A % of Revenue	-	-	-	-	-	-	10.89%
Research & Development	2.89M	6.51M	8.37M	13.43M	18.99M	16.73M	11.2M
R&D % of Revenue	-	-	-	-	-	-	11.05%
Other Operating Expenses	0	0	0	0	0	0	0
Operating Income+	-3.5M	-8.51M	-11.11M	-19.8M	-30.46M	-29.69M	-24.22M
Operating Margin %	-	-	-	-	-	-	-23.91%
Operating Income Growth %	-	-1.43%	-0.3%	-0.78%	-0.54%	0.03%	0.18%
EBITDA+	-3.49M	-8.5M	-11.09M	-19.73M	-30.33M	-29.53M	-24.06M
EBITDA Margin %	-	-	-	-	-	-	-23.75%
EBITDA Growth %	-	-1.43%	-0.31%	-0.78%	-0.54%	0.03%	0.19%
D&A (Non-Cash Add-back)	3K	11K	13K	74K	134K	158K	166K
EBIT	-3.49M	-8.44M	-12.03M	-20.89M	-30.33M	-29.28M	-24.22M
Net Interest Income+	0	59	-977K	-861K	0	0	495K
Interest Income	0	59	27K	22K	133K	0	495K
Interest Expense	0	0	1M	883K	133K	0	0
Other Income/Expense	8K	72K	-1.92M	-1.97M	133K	407K	495K
Pretax Income+	-3.49M	-8.44M	-13.03M	-21.77M	-30.33M	-29.28M	-23.73M
Pretax Margin %	-	-	-	-	-	-	-23.42%
Income Tax+	0	0	0	809K	-133K	0	0
Effective Tax Rate %	1%	1%	1.08%	1.04%	1%	1%	1%
Net Income+	-3.49M	-8.44M	-14.04M	-22.58M	-30.2M	-29.28M	-23.73M
Net Margin %	-	-	-	-	-	-	-23.42%
Net Income Growth %	-	-1.42%	-0.66%	-0.61%	-0.34%	0.03%	0.19%
Net Income (Continuing)	-3.49M	-8.44M	-13.03M	-22.58M	-30.2M	-29.28M	-23.73M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.11	-0.26	-0.44	-0.69	-0.91	-0.63	-0.39
EPS Growth %	-	-1.36%	-0.69%	-0.57%	-0.32%	0.31%	0.38%
EPS (Basic)	-0.11	-0.26	-0.44	-0.69	-0.91	-0.63	-0.39
Diluted Shares Outstanding	32.12M	32.12M	32.12M	32.77M	33.03M	46.2M	60.23M
Basic Shares Outstanding	32.12M	32.12M	32.12M	32.77M	33.03M	46.2M	60.23M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.17M	4.51M	6.9M	35.06M	11.65M	8.52M	10.39M
Cash & Short-Term Investments	3.17M	4.29M	5.71M	33.6M	10.76M	6.12M	7.9M
Cash Only	3.17M	4.29M	5.71M	17.68M	10.76M	6.12M	7.9M
Short-Term Investments	0	0	0	15.92M	0	0	0
Accounts Receivable	0	0	500K	166K	0	450K	52K
Days Sales Outstanding	-	-	-	-	-	-	18.74
Inventory	0	0	0	-166K	0	1.11M	2.05M
Days Inventory Outstanding	-	-	-	-	-	2.57K	248.35
Other Current Assets	0	111K	0	1.46M	887K	442K	362K
Total Non-Current Assets+	230K	374K	182K	1.21M	1.6M	898K	930K
Property, Plant & Equipment	49K	51K	38K	529K	443K	589K	213K
Fixed Asset Turnover	-	-	-	-	-	-	4.76x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	181K	323K	144K	678K	1.15M	309K	717K
Total Assets+	3.4M	4.89M	7.08M	36.27M	13.24M	9.42M	11.32M
Asset Turnover	-	-	-	-	-	-	0.09x
Asset Growth %	-	0.44%	0.45%	4.12%	-0.63%	-0.29%	0.2%
Total Current Liabilities+	370K	858K	1.16M	3.22M	4.98M	5.9M	3.44M
Accounts Payable	7K	15K	246K	311K	557K	3.12M	2.02M
Days Payables Outstanding	851.67	497.73	6.91K	1.53K	1.52K	7.2K	244.71
Short-Term Debt	0	0	248K	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	1000K	36K
Other Current Liabilities	285K	0	290K	2.34M	984K	762K	972K
Current Ratio	8.58x	5.26x	5.95x	10.89x	2.34x	1.44x	3.02x
Quick Ratio	8.58x	5.26x	5.95x	10.95x	2.34x	1.26x	2.42x
Cash Conversion Cycle	-	-	-	-	-	-	22.38
Total Non-Current Liabilities+	21K	32K	13.98M	317K	350K	73K	520K
Long-Term Debt	0	0	11.45M	0	0	0	0
Capital Lease Obligations	0	0	0	0	214K	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0
Other Non-Current Liabilities	21K	32K	2.54M	317K	136K	73K	520K
Total Liabilities	391K	890K	15.14M	3.54M	5.33M	5.97M	3.96M
Total Debt+	0	0	11.69M	0	426K	217K	186K
Net Debt	-3.17M	-4.29M	5.98M	-17.68M	-10.33M	-5.9M	-7.72M
Debt / Equity	-	-	-	-	0.05x	0.06x	0.03x
Debt / EBITDA	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-
Interest Coverage	-	-	-11.06x	-22.43x	-229.04x	-	-
Total Equity+	3.01M	4M	-8.06M	32.73M	7.92M	3.45M	7.36M
Equity Growth %	-	0.33%	-3.02%	5.06%	-0.76%	-0.56%	1.13%
Book Value per Share	0.09	0.12	-0.25	1.00	0.24	0.07	0.12
Total Shareholders' Equity	3.01M	4M	-8.06M	32.73M	7.92M	3.45M	7.36M
Common Stock	0	0	1K	3K	3K	6K	10K
Retained Earnings	-5.58M	-19.91M	-40.88M	-64.77M	-95.1M	-124.38M	-148.11M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	-3K	0	-1K	-11K	0	0	0
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.28M	-8.23M	-10.67M	-16.18M	-24.9M	-26.18M	-22.53M
Operating CF Margin %	-	-	-	-	-	-	-22.24%
Operating CF Growth %	-	-1.51%	-0.3%	-0.52%	-0.54%	-0.05%	0.14%
Net Income	-3.49M	-8.44M	-13.03M	-21.77M	-30.33M	-29.28M	-23.73M
Depreciation & Amortization	3K	11K	13K	74K	147K	158K	166K
Stock-Based Compensation	25.09K	90K	713K	1.93M	3.1M	2.98M	3.23M
Deferred Taxes	0	0	947K	1.31M	0	0	0
Other Non-Cash Items	25K	-13K	1.42M	937K	134K	237K	308K
Working Capital Changes	189K	124K	-725K	1.34M	2.05M	-269K	-2.5M
Change in Receivables	0	0	0	0	0	427K	567K
Change in Inventory	0	0	0	0	0	-1.11M	-932K
Change in Payables	0	8K	231K	65K	246K	2.56M	-1.1M
Cash from Investing+	-52K	-13K	0	-16.7M	15.72M	-64K	-8K
Capital Expenditures	-52K	-13K	0	-565K	-105K	-64K	-8K
CapEx % of Revenue	-	-	-	-	-	-	0.01%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	0	0	0	-16.13K	15.83K	0	0
Cash from Financing+	6.5M	9.36M	12.09M	44.85M	2.26M	21.6M	24.32M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	0	0	-695K	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-3.33M	-8.24M	-10.67M	-16.75M	-25.01M	-26.24M	-22.54M
FCF Margin %	-	-	-	-	-	-	-22.25%
FCF Growth %	-	-1.48%	-0.29%	-0.57%	-0.49%	-0.05%	0.14%
FCF per Share	-0.10	-0.26	-0.33	-0.51	-0.76	-0.57	-0.37
FCF Conversion (FCF/Net Income)	0.94x	0.97x	0.76x	0.72x	0.82x	0.89x	0.95x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-115.73%	-240.76%	-	-183.09%	-148.58%	-515.36%	-439.23%
Return on Invested Capital (ROIC)	-	-	-	-228.92%	-361.58%	-	-
Gross Margin	-	-	-	-	-	-	-196.84%
Net Margin	-	-	-	-	-	-	-2342.25%
Debt / Equity	-	-	-	-	0.05x	0.06x	0.03x
Interest Coverage	-	-	-11.06x	-22.43x	-229.04x	-	-
FCF Conversion	0.94x	0.97x	0.76x	0.72x	0.82x	0.89x	0.95x

Frequently Asked Questions

Growth & Financials

Movano Inc. (MOVE) reported $0.5M in revenue for fiscal year 2024.

Movano Inc. (MOVE) grew revenue by 0.0% over the past year. Growth has been modest.

Movano Inc. (MOVE) reported a net loss of $17.0M for fiscal year 2024.

Dividend & Returns

Movano Inc. (MOVE) has a return on equity (ROE) of -439.2%. Negative ROE indicates the company is unprofitable.

Movano Inc. (MOVE) had negative free cash flow of $13.6M in fiscal year 2024, likely due to heavy capital investments.

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