Revenue growth to $1.6M in 2026Q4 remains volatile, while gross margins of 14.2% indicate that the company is struggling to achieve the necessary scale to offset inventory and technology fulfillment costs.
| Metric | Feb'26 | Feb'25 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Jan'12 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'01 |
|---|
| Sales/Revenue | 3.72M | 501.42K | 458.75K | 382.83K | 1.65M | 807.49K | 402.45K | 388.57K | 641.05K | 966.42K | 1.23M | 548.72K | 1.07M | 986.5K | 797.35K | 498.5K | 0 | 0 | 0 | 0 | 0 | 0 | 1.27K |
| Revenue Growth % | 641% | 9.3% | 19.83% | -76.82% | 104.56% | 100.65% | 3.57% | -39.38% | -33.67% | -21.74% | 125.03% | -48.79% | 8.61% | 23.72% | 59.95% | - | - | - | - | - | - | -100% | - |
| Cost of Goods Sold | 3.06M | 498.12K | 397.53K | 354.92K | 559.97K | 591.96K | 574.3K | 270.11K | 272.37K | 228.9K | 214K | 158.94K | 488.63K | 554.83K | 412.4K | 107.06K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | 82.44% | 99.34% | 86.66% | 92.71% | 33.9% | 73.31% | 142.7% | 69.51% | 42.49% | 23.69% | 17.33% | 28.96% | 45.6% | 56.24% | 51.72% | 21.48% | - | - | - | - | - | - | - |
| Gross Profit | 652.49K | 3.3K | 61.22K | 27.91K | 1.09M | 215.53K | -171.85K | 118.47K | 368.68K | 737.52K | 1.02M | 389.79K | 582.81K | 431.67K | 384.96K | 391.44K | 0 | 0 | 0 | 0 | 0 | 0 | 1.27K |
| Gross Margin % | 17.56% | 0.66% | 13.34% | 7.29% | 66.1% | 26.69% | -42.7% | 30.49% | 57.51% | 76.31% | 82.67% | 71.04% | 54.4% | 43.76% | 48.28% | 78.52% | - | - | - | - | - | - | 100% |
| Gross Profit Growth % | 19660.33% | -94.61% | 119.34% | -97.44% | 406.56% | 225.41% | -245.07% | -67.87% | -50.01% | -27.75% | 161.89% | -33.12% | 35.01% | 12.13% | -1.66% | - | - | - | - | - | - | -100% | - |
| Operating Expenses | 16.55M | 8.42M | 7.31M | 4.98M | 9.57M | 5.91M | 6.21M | 5.69M | 4.27M | 737.52K | 1.02M | 389.79K | 1.32M | 1.12M | 384.96K | 391.44K | 8.98K | 6.46K | 6.07K | 5.75K | 6.19K | 6.19K | 7.25K |
| OpEx % of Revenue | 445.53% | 1678.57% | 1593.07% | 1300.77% | 579.45% | 732.43% | 1543.52% | 1463.63% | 665.73% | 76.31% | 82.67% | 71.04% | 122.97% | 113.3% | 48.28% | 78.52% | - | - | - | - | - | - | 572.22% |
| Selling, General & Admin | 11.2M | 5.33M | 3.78M | 3.45M | 6.77M | 4.3M | 3.93M | 4.4M | 3.35M | 2.78M | 2.39M | 2.01M | 1.22M | 1.12M | 1.3M | 801.39K | 8.98K | 6.46K | 6.07K | 5.75K | 6.19K | 6.19K | 7.25K |
| SG&A % of Revenue | 301.42% | 1062.88% | 823.73% | 900.36% | 410% | 532.99% | 977.45% | 1132.35% | 522.23% | 287.61% | 193.32% | 365.73% | 113.49% | 113.3% | 162.56% | 160.76% | - | - | - | - | - | - | 572.22% |
| Research & Development | 1.05M | 843.3K | 311.43K | 551.42K | 890.55K | 351.4K | 647.99K | 493.41K | 302.04K | 120.64K | 330.55K | 219.13K | 14.28K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 28.2% | 168.18% | 67.89% | 144.04% | 53.92% | 43.52% | 161.01% | 126.98% | 47.12% | 12.48% | 26.77% | 39.93% | 1.33% | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4.31M | 2.24M | 3.22M | 981.48K | 1.91M | 1.26M | 1.63M | 793.86K | 617.85K | -2.16M | -1.7M | -1.84M | 87.34K | 0 | -911.24K | -409.95K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -15.9M | -8.41M | -7.25M | -4.95M | -8.48M | -5.7M | -6.38M | -5.57M | -3.9M | -2.42M | -1.7M | -1.84M | -734.77K | -686K | -911.24K | -409.95K | -8.98K | -6.46K | -6.07K | -5.75K | -6.19K | -6.19K | -5.98K |
| Operating Margin % | -427.97% | -1677.91% | -1579.73% | -1293.48% | -513.35% | -705.74% | -1586.22% | -1433.14% | -608.22% | -250.62% | -137.42% | -334.63% | -68.58% | -69.54% | -114.28% | -82.24% | - | - | - | - | - | - | -472.22% |
| Operating Income Growth % | -89% | -16.1% | -46.35% | 41.6% | -48.79% | 10.73% | -14.63% | -42.83% | -60.98% | -42.74% | 7.59% | -149.9% | -7.11% | 24.72% | -122.28% | -4463.07% | -39.14% | -6.32% | -5.56% | 7.09% | 0% | -3.49% | - |
| EBITDA | -14.8M | -7.7M | -5.78M | -4.23M | -8.39M | -5.59M | -6.19M | -5.38M | -3.7M | -2.24M | -1.53M | -1.81M | -634.67K | -575.82K | -890.08K | -396.01K | -8.98K | -6.46K | -6.07K | -5.75K | -6.19K | -6.19K | -5.98K |
| EBITDA Margin % | -398.42% | -1535.67% | -1259.56% | -1105.56% | -507.66% | -692.72% | -1538.37% | -1383.63% | -577.5% | -232.11% | -123.73% | -330.51% | -59.24% | -58.37% | -111.63% | -79.44% | - | - | - | - | - | - | -472.22% |
| EBITDA Growth % | -92.25% | -33.26% | -36.52% | 49.53% | -49.91% | 9.65% | -15.15% | -45.23% | -65.03% | -46.83% | 15.76% | -185.75% | -10.22% | 35.31% | -124.76% | -4307.91% | -39.14% | -6.32% | -5.56% | 7.09% | 0% | -3.49% | - |
| D&A (Non-Cash Add-back) | 1.1M | 713.24K | 1.47M | 719.41K | 94.11K | 105.17K | 192.57K | 192.37K | 196.94K | 178.84K | 169.05K | 22.65K | 100.1K | 110.18K | 21.16K | 13.94K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT | -14.81M | -10.13M | -7.25M | -4.96M | -7.37M | -5.19M | -6.31M | -5.57M | -3.9M | -2.16M | -1.7M | -1.84M | -647.43K | -685.45K | -910.01K | -404.95K | -8.98K | -6.46K | -6.07K | -5.75K | -6.19K | -6.19K | -5.98K |
| Net Interest Income | -1.11M | 0 | -48.62K | -3.86K | 2.6K | -12.85K | 0 | 0 | 0 | 0 | 0 | 0 | 653 | 431 | 0 | -17K | -1.2K | -1.19K | -843 | -564 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 3.49K | 13.87K | 1.06K | 0 | 0 | 0 | 0 | 0 | 0 | 653 | 543 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.11M | 0 | 48.62K | 7.34K | 11.26K | 13.91K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 112 | 0 | 17K | 1.2K | 1.19K | 843 | 564 | 0 | 0 | 0 |
| Other Income/Expense | -10.62K | -1.71M | 590.18K | -81.64K | 1.09M | 498.63K | 62.84K | -5.36K | -525.53K | 225.2K | 562 | -1.28M | 653 | 431 | 1.11K | -12K | -1.2K | -1.19K | -843 | -564 | 0 | 0 | 5.98K |
| Pretax Income | -15.91M | -10.13M | -6.66M | -5.03M | -7.38M | -5.2M | -6.32M | -5.57M | -4.42M | -2.2M | -1.7M | -3.12M | -734.12K | -685.57K | -910.13K | -421.95K | -10.18K | -7.64K | -6.92K | -6.32K | -6.19K | -6.19K | 0 |
| Pretax Margin % | -428.25% | -2019.94% | -1451.08% | -1314.81% | -447.07% | -643.99% | -1570.61% | -1434.52% | -690.2% | -227.32% | -137.37% | -567.88% | -68.52% | -69.49% | -114.14% | -84.64% | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Net Income | -15.91M | -10.12M | -7.33M | -5.03M | -7.38M | -5.2M | -6.32M | -5.57M | -4.42M | -2.2M | -1.7M | -3.12M | -734.12K | -685.57K | -910.13K | -421.95K | -10.18K | -7.64K | -6.92K | -6.32K | -6.19K | -6.19K | -5.98K |
| Net Margin % | -428.25% | -2018.27% | -1598.28% | -1314.81% | -447.07% | -643.99% | -1570.61% | -1434.52% | -690.2% | -227.32% | -137.37% | -567.88% | -68.52% | -69.49% | -114.14% | -84.64% | - | - | - | - | - | - | -472.22% |
| Net Income Growth % | -57.23% | -38.02% | -45.67% | 31.84% | -42.01% | 17.73% | -13.4% | -25.98% | -101.4% | -29.51% | 45.56% | -324.47% | -7.08% | 24.67% | -115.7% | -4043.22% | -33.26% | -10.5% | -9.48% | -2.02% | 0% | -3.49% | - |
| Net Income (Continuing) | -15.91M | -10.13M | -6.66M | -5.03M | -7.38M | -5.2M | -6.32M | -5.57M | -4.42M | -2.2M | -1.7M | -3.12M | -734.12K | -685.57K | -910.13K | -421.95K | -10.18K | -7.64K | -6.92K | -6.32K | -6.19K | -6.19K | -5.98K |
| Discontinued Operations | 0 | 8.34K | -675.31K | 0 | 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 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.82 | -2.23 | -32.15 | -16.67 | -15.24 | -36.61 | -107.47 | -162.05 | -200.95 | -140.00 | -108.00 | -400.00 | -60.00 | -64.00 | -0.40 | -0.40 | -2.68 | -2.68 | -2.68 | -2.68 | -0.00 | -0.00 | -0.13 |
| EPS Growth % | 18.39% | 93.06% | -92.9% | -9.38% | 58.37% | 65.94% | 33.68% | 19.36% | -43.54% | -29.63% | 73% | -566.67% | 6.25% | -15900% | 0% | 85.1% | 0% | 0% | 0% | - | - | 97.92% | - |
| EPS (Basic) | -1.82 | -2.23 | -32.15 | -16.67 | -15.24 | -36.61 | -107.47 | -162.05 | -200.95 | -140.00 | -108.00 | -400.00 | -60.00 | -64.00 | -0.40 | -0.40 | -2.68 | -2.68 | -2.68 | -2.68 | -0.00 | -0.00 | -0.13 |
| Diluted Shares Outstanding | 8.93M | 4.57M | 228.27K | 524.94K | 491.43K | 191.49K | 58.81K | 34.49K | 22.02K | 15.63K | 15.57K | 15.26K | 12.25K | 10.7K | 9.26K | 5.76K | 4.69K | 4.69K | 4.69K | 4.69K | 4.69K | 4.69K | 45.33K |
| Basic Shares Outstanding | 8.93M | 4.57M | 228.27K | 524.94K | 491.43K | 191.49K | 58.81K | 34.49K | 22.02K | 15.63K | 15.57K | 15.26K | 12.25K | 10.7K | 9.26K | 5.76K | 4.69K | 4.69K | 4.69K | 4.69K | 4.69K | 4.69K | 45.33K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Unsustainable cash burn rate
According to recent financial disclosures, NextTrip has achieved a revenue increase to $1.6M in 2026Q4, reflecting a volatile growth trajectory as the company transitions away from its legacy additive manufacturing operations toward a travel-focused business model that remains in its early, unproven developmental stages.
The reported revenue growth appears to be driven by the initial adoption of the NXT2.0 platform rather than organic expansion of a mature service. Investors should monitor whether this top-line momentum can persist as the company moves beyond the initial post-pivot base effects.
As reported in quarterly filings, gross margins have fluctuated significantly, reaching 14.2% in 2026Q4, which suggests that the company's current travel service offerings are struggling to achieve the economies of scale necessary to offset direct inventory costs and third-party technology fulfillment fees.
The inconsistency in gross margin performance indicates that the company lacks the pricing power typical of established travel technology peers. This volatility may imply that the current business model is highly sensitive to fluctuations in travel inventory pricing and fulfillment expenses.
Based on the income statement data, SG&A expenses reached $4.2M in 2026Q4, significantly outpacing the $1.6M in revenue, which indicates that the company's current cost structure is fundamentally misaligned with its ability to generate sufficient gross profit to cover basic operating overhead.
The persistent reliance on heavy SG&A spending suggests that the company is in a high-burn phase, likely attempting to capture market share through aggressive customer acquisition. Without a clear path to operating leverage, these elevated costs appear to be the primary driver of the company's ongoing net losses.
Financial statements reveal that stock-based compensation reached $2.0M in 2026Q4, a substantial figure that warrants further investigation as it significantly inflates the reported operating losses and complicates the assessment of the company's underlying operational performance and true cash-based expense profile.
The heavy reliance on stock-based compensation may indicate an attempt to preserve cash, yet it simultaneously dilutes existing shareholders while masking the true cost of talent acquisition. Analysts should consider the impact of these non-cash charges when evaluating the company's long-term path to sustainable profitability.
As indicated by the reported figures, the company's operating losses of $5.0M in 2026Q4 against a limited cash position suggest that the current business model may face a liquidity crisis, potentially necessitating dilutive financing to sustain operations in the near term.
Short-term observers may focus on the risk that the company's cash burn rate is unsustainable, particularly given the lack of a clear inflection point toward positive operating income. The current financial profile appears to be that of a venture-stage entity, which may be vulnerable to shifts in capital market sentiment.
Quick answers to the most common questions about buying NTRP stock.
For fiscal year 2026, NextTrip, Inc. (NTRP) reported total revenue of $3.7M. This represents a 293154.0% increase compared to $0.0M in 2002.
NextTrip, Inc. (NTRP) reported a net loss of $15.9M for the fiscal year ending 2026.
NextTrip, Inc. (NTRP) reported an operating income of $-15.9M, resulting in an operating profit margin of -428.0%. This margin reflects the operational efficiency of the business before interest and taxes.
NextTrip, Inc. (NTRP) generated $0.7M in gross profit for the year, representing a gross profit margin of 17.6%. This demonstrates the company's core pricing power and production efficiency.