Revenue has experienced a total collapse to zero in the last four quarters, while SG&A expenses reached as high as $4.5 million in 2025Q1 despite the lack of commercial activity.
| Sales/Revenue | 0 | 5.91M | 16.22M | 21.51M | 19.29M | 19.2M | 19.2M | 19.2M | 24M | 9.7M | 32.47K | 102.95K | 12K |
| Revenue Growth % | -100% | -63.55% | -24.59% | 11.54% | 0.45% | 0% | 0% | -20% | 147.42% | 29774.65% | -68.46% | 757.92% | - |
| Cost of Goods Sold | 2.81K | 4.92M | 16.29M | 22.18M | 19.19M | 18.9M | 18.9M | 18.9M | 23.7M | 9.58M | 14.66K | 29.36K | 6.28K |
| COGS % of Revenue | - | 83.12% | 100.4% | 103.08% | 99.51% | 98.44% | 98.44% | 98.44% | 98.75% | 98.75% | 45.17% | 28.52% | 52.3% |
| Gross Profit | -2.81K | 998.52K | -64.93K | -661K | 93.95K | 300K | 300K | 300K | 300K | 121.25K | 17.8K | 73.59K | 5.72K |
| Gross Margin % | - | 16.89% | -0.4% | -3.07% | 0.49% | 1.56% | 1.56% | 1.56% | 1.25% | 1.25% | 54.83% | 71.48% | 47.7% |
| Gross Profit Growth % | - | 1637.86% | 90.18% | -803.54% | -68.68% | 0% | 0% | 0% | 147.42% | 581.03% | -75.81% | 1185.64% | - |
| Operating Expenses | 11.85M | 15.18M | 17.12M | 10.48M | 1.03M | 413.12K | 1.06M | 476.8K | 412.69K | 373.67K | 62.98K | 123.85K | 141.61K |
| OpEx % of Revenue | - | 256.67% | 105.54% | 48.72% | 5.32% | 2.15% | 5.5% | 2.48% | 1.72% | 3.85% | 193.97% | 120.3% | 1180.05% |
| Selling, General & Admin | 11.85M | 8.63M | 3.75M | 5.9M | 850.08K | 413.12K | 1.02M | 476.8K | 412.69K | 373.67K | 62.98K | 123.85K | 141.61K |
| SG&A % of Revenue | - | 145.96% | 23.13% | 27.45% | 4.41% | 2.15% | 5.29% | 2.48% | 1.72% | 3.85% | 193.97% | 120.3% | 1180.05% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 6.55M | 0 | 4.58M | 469.29K | 0 | 40K | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -11.85M | -14.18M | -17.46M | -11.14M | -932.4K | -113K | -756K | -177K | -113K | -252K | -45.18K | -50.26K | -136K |
| Operating Margin % | - | -239.78% | -107.65% | -51.79% | -4.83% | -0.59% | -3.94% | -0.92% | -0.47% | -2.6% | -139.14% | -48.82% | -1133.33% |
| Operating Income Growth % | - | 18.81% | -56.73% | -1094.98% | -725.14% | 85.05% | -327.12% | -56.64% | 55.16% | -457.82% | 10.12% | 63.04% | - |
| EBITDA | -167.52M | -14.16M | -15.08M | -8.45M | -463.12K | -94.52K | -724.07K | -177K | -113K | -255.39K | -45.18K | -50.26K | -118 |
| EBITDA Margin % | - | -239.54% | -92.98% | -39.28% | -2.4% | -0.49% | -3.77% | -0.92% | -0.47% | -2.63% | -139.14% | -48.82% | -0.98% |
| EBITDA Growth % | -1083.54% | 6.09% | -78.48% | -1724.8% | -389.96% | 86.95% | -309.08% | -56.64% | 55.75% | -465.33% | 10.12% | -42493.22% | - |
| D&A (Non-Cash Add-back) | 2.81K | 13.81K | 2.38M | 2.69M | 469.29K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 135.88K |
| EBIT | -69.65M | -7.97M | -17.43M | -11.85M | -932.68K | -94.52K | -724.07K | -177K | -113K | -255K | -45.18K | -50.26K | 0 |
| Net Interest Income | -910.86K | -550K | -1.78K | -703.33K | -4.17K | -6.04K | -6.04K | -35.39K | -24.16K | -4.87K | 0 | 0 | 0 |
| Interest Income | 0 | 2.26K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 911.6K | 550.07K | 1.78K | 703.33K | 4.17K | 6.04K | 6.04K | 35.39K | 24.16K | 4.87K | 0 | 0 | 0 |
| Other Income/Expense | -58.71M | 5.66M | 34.79K | -703K | -4.44K | 12.55K | 25.68K | -35.39K | -24.16K | -7.85K | 0 | 0 | 0 |
| Pretax Income | -70.56M | -8.52M | -17.43M | -11.85M | -936.85K | -101K | -730K | -212K | -137K | -260K | -45.18K | -50.26K | -136K |
| Pretax Margin % | - | -144.07% | -107.43% | -55.06% | -4.86% | -0.53% | -3.8% | -1.1% | -0.57% | -2.68% | -139.14% | -48.82% | -1133.33% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -1.1% |
| Net Income | -71.18M | -8.52M | -17.43M | -11.85M | -936.85K | -101K | -730K | -212K | -137K | -260K | -45.18K | -50.26K | -137K |
| Net Margin % | - | -144.07% | -107.43% | -55.06% | -4.86% | -0.53% | -3.8% | -1.1% | -0.57% | -2.68% | -139.14% | -48.82% | -1141.67% |
| Net Income Growth % | -735.56% | 51.12% | -47.13% | -1164.42% | -827.57% | 86.16% | -244.34% | -54.74% | 47.31% | -475.53% | 10.12% | 63.31% | - |
| Net Income (Continuing) | -70.56M | -8.52M | -17.43M | -11.85M | -936.85K | -101K | -730K | -212K | -137K | -260K | -45.18K | -50.26K | -137K |
| Discontinued Operations | -619.22K | 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 |
| EPS (Diluted) | -8.76 | -4.93 | -13.84 | -1.65 | -0.13 | -0.00 | -0.03 | -0.03 | -0.00 | -0.00 | -0.01 | -0.01 | -0.03 |
| EPS Growth % | -304.24% | 64.38% | -738.79% | -1169.23% | - | 86.17% | 23.57% | - | - | - | 10.81% | 67.54% | - |
| EPS (Basic) | - | -4.93 | -13.84 | -1.65 | -0.13 | -0.00 | -0.03 | -0.03 | -0.00 | -0.00 | -0.01 | -0.01 | -0.03 |
| Diluted Shares Outstanding | 8.12M | 1.73M | 10.06M | 356.13M | 7.07M | 230.49M | 230.49M | 6.41M | 254.64M | 197.44M | 4.57M | 4.54M | 4.02M |
| Basic Shares Outstanding | 8.12M | 1.73M | 10.07M | 356.14M | 7.07M | 230.65M | 230.54M | 6.41M | 254.64M | 197.44M | 4.57M | 4.54M | 4.02M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Existential liquidity and solvency
As reported in recent financial filings, NUKK's top-line performance has deteriorated to zero revenue in the most recent four quarters, representing a total cessation of the previously active transaction-based business model compared to the $5.2 million quarterly run rate observed in the 2023 fiscal year.
The complete evaporation of revenue suggests that the company's core institutional client base may have exited the platform or that the underlying digital asset liquidity services are no longer operational. This trend indicates a fundamental breakdown in the firm's ability to generate transaction throughput, rendering the current business model effectively dormant.
Based on the provided income statement data, NUKK continues to incur significant SG&A expenses despite generating no revenue, with quarterly operating costs reaching as high as $4.5 million in 2025Q1, highlighting a severe lack of expense discipline relative to the company's current lack of commercial activity.
The persistence of high SG&A costs in the absence of revenue suggests that the company is burdened by a rigid cost structure that it cannot easily unwind. This mismatch between fixed overhead and the lack of top-line generation implies that the firm is rapidly depleting its remaining resources to maintain basic corporate functions.
According to historical income statements, NUKK has reported erratic net income figures, including a $103 million gain in 2025Q2 followed by a $160.8 million loss in 2025Q1, which suggests that these bottom-line results are driven by non-operating items rather than sustainable core business profitability.
The extreme swings in net income appear disconnected from the company's operational reality, likely reflecting accounting adjustments or non-recurring items related to the SPAC merger and subsequent restructuring. Investors should view these figures with extreme skepticism, as they do not represent a viable path toward recurring earnings or operational stability.
With a reported cash balance of only $3,678, the company faces an immediate existential threat, as the current financial data indicates that NUKK lacks the necessary liquidity to sustain its operations or meet its ongoing obligations without an immediate and highly dilutive capital infusion from external sources.
While some might argue that the company's legacy software assets hold latent value, the current cash position suggests that the firm may not have the runway to realize that value. The combination of zero revenue and negligible cash reserves warrants significant concern regarding the company's ability to continue as a going concern.
Quick answers to the most common questions about buying NUKK stock.
For fiscal year 2024, Nukkleus Inc. (NUKK) reported total revenue of $5.9M. This represents a 49175.0% increase compared to $0.0M in 2013.
Nukkleus Inc. (NUKK) reported a net loss of $8.5M for the fiscal year ending 2024.
Nukkleus Inc. (NUKK) reported an operating income of $-14.2M, resulting in an operating profit margin of -239.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Nukkleus Inc. (NUKK) generated $1.0M in gross profit for the year, representing a gross profit margin of 16.9%. This demonstrates the company's core pricing power and production efficiency.