Revenue generation has completely stalled with -100% growth, while the company continues to incur quarterly operating losses of approximately $1.7 million despite having no active manufacturing output.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Apr'17 | Apr'16 | Apr'15 | Apr'14 | Apr'13 | Apr'12 | Apr'11 | Apr'10 | Apr'09 | Apr'08 | Apr'07 | Apr'06 | Apr'05 | Apr'04 |
|---|
| Sales/Revenue | 0 | 0 | 63.78K | 498.92K | 2.99M | 2.68M | 1.6M | 890.15K | 5.3M | 4.29M | 16.74M | 14.56M | 24.42M | 21.26M | 42.33M | 92.42M | 96.84M | 105.77M | 107.1M | 101.43M | 70M | 52.14M | 40.15M | 22.08M |
| Revenue Growth % | -100% | -100% | -87.22% | -83.32% | 11.44% | 67.3% | 80.2% | -83.21% | 23.74% | -74.39% | 14.99% | -40.39% | 14.83% | -49.76% | -54.2% | -4.56% | -8.45% | -1.24% | 5.59% | 44.9% | 34.24% | 29.88% | 81.86% | - |
| Cost of Goods Sold | 956.16K | 956.16K | 6.65M | 5.13M | 6.04M | 4.77M | 1.77M | 691.84K | 5.01M | 4.76M | 12.89M | 11.64M | 20.62M | 16.74M | 29.95M | 83.67M | 78.91M | 77.93M | 78.33M | 73.08M | 47.78M | 38.01M | 32.45M | 16.46M |
| COGS % of Revenue | - | - | 10428.49% | 1029.03% | 202.09% | 177.92% | 110.38% | 77.72% | 94.45% | 111.12% | 77.04% | 79.94% | 84.45% | 78.75% | 70.75% | 90.52% | 81.49% | 73.68% | 73.14% | 72.05% | 68.26% | 72.9% | 80.81% | 74.55% |
| Gross Profit | -956.16K | -956.16K | -6.59M | -4.64M | -3.05M | -2.09M | -166.48K | 198.31K | 294.26K | -476.6K | 3.84M | 2.92M | 3.8M | 4.52M | 12.38M | 8.76M | 17.93M | 27.84M | 28.77M | 28.35M | 22.22M | 14.13M | 7.7M | 5.62M |
| Gross Margin % | - | - | -10328.49% | -929.03% | -102.09% | -77.92% | -10.38% | 22.28% | 5.55% | -11.12% | 22.96% | 20.06% | 15.55% | 21.25% | 29.25% | 9.48% | 18.51% | 26.32% | 26.86% | 27.95% | 31.74% | 27.1% | 19.19% | 25.45% |
| Gross Profit Growth % | - | 85.48% | -42.12% | -51.82% | -45.99% | -1156.1% | -183.95% | -32.61% | 161.74% | -112.4% | 31.61% | -23.12% | -15.96% | -63.49% | 41.36% | -51.15% | -35.61% | -3.23% | 1.48% | 27.58% | 57.2% | 83.49% | 37.12% | - |
| Operating Expenses | 9.23M | 9.5M | 12.79M | 23.52M | 20.22M | 31.04M | 9.94M | 8.69M | 2.23M | 5.84M | 6.27M | 6.95M | 4.87M | 5.99M | 11.56M | 19.96M | 62.26M | 26.31M | 25.63M | 21.7M | 14.48M | 10.03M | 7.71M | 5.65M |
| OpEx % of Revenue | - | - | 20053.95% | 4714.48% | 676.27% | 1156.57% | 619.66% | 976.54% | 42.06% | 136.23% | 37.47% | 47.76% | 19.93% | 28.16% | 27.32% | 21.6% | 64.3% | 24.87% | 23.93% | 21.4% | 20.69% | 19.23% | 19.21% | 25.6% |
| Selling, General & Admin | 8.02M | 8.1M | 9.64M | 16.1M | 13.38M | 19.59M | 8.02M | 7.98M | 2.23M | 5.84M | 6.27M | 6.95M | 4.87M | 5.99M | 11.56M | 19.96M | 24.92M | 23.45M | 23.05M | 19.3M | 13.24M | 9.19M | 7.03M | 5.65M |
| SG&A % of Revenue | - | - | 15110.11% | 3227.66% | 447.37% | 729.92% | 499.93% | 896.3% | 42.06% | 136.23% | 37.47% | 47.76% | 19.93% | 28.16% | 27.32% | 21.6% | 25.73% | 22.17% | 21.52% | 19.03% | 18.92% | 17.63% | 17.51% | 25.6% |
| Research & Development | 1.21M | 1.39M | 1.49M | 7.42M | 6.85M | 11.45M | 1.92M | 714.28K | 322.27K | 171.38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 2341.29% | 1486.83% | 228.91% | 426.65% | 119.73% | 80.24% | 6.08% | 4% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1.66M | 0 | 0 | 51.77K | 0 | 2.19K | -322.27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37.34M | 2.85M | 2.58M | 2.4M | 1.24M | 837.79K | 682.4K | 0 |
| Operating Income | -10.18M | -10.46M | -19.38M | -28.16M | -23.28M | -33.13M | -10.11M | -8.49M | -2.23M | -6.31M | -1.22M | -4.03M | -1.07M | -10.98M | -7.98M | -18.76M | -44.34M | 1.53M | 3.14M | 6.65M | 7.73M | 4.1M | -8.48K | -34.14K |
| Operating Margin % | - | - | -30382.44% | -5643.51% | -778.36% | -1234.5% | -630.04% | -954.26% | -42.06% | -147.35% | -7.28% | -27.7% | -4.38% | -51.62% | -18.86% | -20.3% | -45.79% | 1.45% | 2.93% | 6.55% | 11.05% | 7.87% | -0.02% | -0.15% |
| Operating Income Growth % | - | 46.04% | 31.18% | -20.96% | 29.74% | -227.81% | -18.98% | -280.81% | 64.68% | -418.09% | 69.77% | -277.14% | 90.26% | -37.52% | 57.45% | 57.69% | -2997.35% | -51.2% | -52.81% | -14.08% | 88.44% | 48478.7% | 75.15% | - |
| EBITDA | -9.96M | -10.23M | -17.47M | -26.92M | -22.32M | -32.39M | -9.55M | -7.77M | -1.87M | -6.1M | -1.15M | -3.97M | -1.01M | -10.22M | -6.65M | -16.5M | -41.58M | 4.26M | 5.71M | 9.04M | 8.97M | 4.94M | 673.91K | 348.37K |
| EBITDA Margin % | - | - | -27391.64% | -5394.77% | -746.4% | -1207.15% | -595.18% | -873.09% | -35.28% | -142.25% | -6.9% | -27.25% | -4.13% | -48.09% | -15.71% | -17.85% | -42.94% | 4.03% | 5.34% | 8.92% | 12.82% | 9.48% | 1.68% | 1.58% |
| EBITDA Growth % | 31.62% | 41.45% | 35.09% | -20.58% | 31.1% | -239.32% | -22.84% | -315.39% | 69.31% | -428.21% | 70.91% | -293.23% | 90.13% | -53.76% | 59.7% | 60.32% | -1076.07% | -25.45% | -36.81% | 0.78% | 81.57% | 633.36% | 93.45% | - |
| D&A (Non-Cash Add-back) | 226.99K | 227.93K | 1.91M | 1.24M | 955.69K | 733.96K | 559.14K | 722.57K | 359.65K | 218.66K | 64.74K | 64.74K | 60.21K | 752.11K | 1.33M | 2.26M | 2.75M | 2.73M | 2.58M | 2.4M | 1.24M | 837.79K | 682.4K | 382.51K |
| EBIT | -10.18M | -10.46M | -17.72M | -28.16M | -23.28M | -33.08M | -10.44M | -8.49M | -2.23M | -6.31M | -1.22M | -3.63M | -4.09M | -8.62M | -5.1M | -13.66M | -44.29M | 1.55M | 3.19M | 7.16M | 8.26M | 147.68K | 1.41M | -34.14K |
| Net Interest Income | 110.38K | 126.62K | 484.32K | 441.44K | 182.28K | 49.46K | -327.2K | -172.48K | 144.62K | 0 | 0 | 0 | 0 | -5.05M | -2.18M | -919.34K | -704.31K | -413.61K | -474.97K | -11.86K | 29.19K | -377.74K | 0 | -14.05K |
| Interest Income | 110.38K | 126.62K | 484.32K | 441.44K | 182.28K | 51.77K | 0 | 0 | 144.62K | 12.33K | 0 | 0 | 0 | -11.6K | -54.62K | -54.24K | -48.36K | -15.85K | -53.95K | 511.12K | 525.52K | -121.72K | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 2.31K | 327.2K | 172.48K | 0 | 0 | -6.62K | -3.2K | 2.84M | 5.04M | 2.12M | 865.09K | 655.94K | 397.76K | 421.02K | 522.98K | 496.33K | 256.02K | 24.7K | 14.05K |
| Other Income/Expense | -17.69M | -38.85M | 17.62M | -6M | 341.55K | 49.46K | -657.2K | -170.29K | 1.15M | -1.33M | 3.13K | 402.09K | -5.86M | -182.94K | 758.14K | 4.23M | -607.58K | -381.92K | -475.3K | -11.86K | 29.19K | -4.21M | 1.39M | -14.05K |
| Pretax Income | -27.87M | -49.31M | -1.75M | -34.16M | -22.94M | -33.08M | -10.76M | -8.66M | -2.9M | -7.64M | -1.22M | -3.63M | -6.93M | -11.16M | -7.22M | -14.53M | -44.94M | 1.15M | 2.66M | 6.66M | 7.74M | -108.35K | 1.38M | -48.19K |
| Pretax Margin % | - | - | -2751.78% | -6846.92% | -766.94% | -1232.65% | -671.01% | -973.39% | -54.74% | -178.29% | -7.26% | -24.94% | -28.37% | -52.48% | -17.07% | -15.72% | -46.41% | 1.09% | 2.48% | 6.56% | 11.06% | -0.21% | 3.44% | -0.22% |
| Income Tax | -2.41M | -21.09M | 0 | 0 | 0 | 0 | 0 | 0 | 1.49M | 0 | 3.13K | 1.71K | 69.68K | -182.94K | 758.14K | 4.23M | -7.94M | 576.23K | 989.03K | 2.58M | 3.15M | 1.52M | 52.1K | 76K |
| Effective Tax Rate % | 8.66% | 42.77% | 0% | 0% | 0% | 0% | 0% | 0% | -51.45% | 0% | -0.26% | -0.05% | -1.01% | 1.64% | -10.49% | -29.14% | 17.66% | 50.18% | 37.17% | 38.72% | 40.65% | -1399% | 3.77% | -157.72% |
| Net Income | -25.46M | -28.22M | -1.76M | -34.16M | -22.94M | -33.13M | -10.76M | -8.84M | -15.98M | -7.64M | -1.22M | -3.62M | -9.26M | -11.06M | -6.91M | -20.55M | -36.83M | 854.4K | 1.67M | 4.08M | 4.59M | -1.62M | 1.33M | -124.19K |
| Net Margin % | - | - | -2752.53% | -6846.92% | -766.94% | -1234.67% | -671.01% | -993.02% | -301.32% | -178.29% | -7.28% | -24.87% | -37.94% | -52.01% | -16.33% | -22.23% | -38.03% | 0.81% | 1.56% | 4.02% | 6.56% | -3.11% | 3.31% | -0.56% |
| Net Income Growth % | -1033.07% | -1507.45% | 94.86% | -48.94% | 30.78% | -207.83% | -21.77% | 44.68% | -109.13% | -526.9% | 66.34% | 60.92% | 16.23% | -60.03% | 66.37% | 44.21% | -4410.79% | -48.89% | -59.01% | -11.22% | 382.84% | -222.21% | 1170.14% | - |
| Net Income (Continuing) | -25.46M | -28.22M | -1.75M | -34.16M | -22.94M | -33.08M | -10.76M | -8.66M | -2.9M | -7.64M | -1.22M | -3.63M | -7M | -10.98M | -7.98M | -18.76M | -37.01M | 572.11K | 1.78M | 4.06M | 4.62M | -1.62M | 1.33M | -124.19K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27.26K | -2.55M | 33.89K | -589.62K | -779.02K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 560.91K | 0 | 849.14K | 1.12M | 1.04M | 1.17M | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -17.48 | -32.24 | -2.02 | -8.19 | -9.90 | -7.54 | -3.14 | -24.04 | -39.08 | -18.69 | -3.29 | -8.86 | -132.20 | -158.05 | -55.65 | -236.36 | -423.67 | 9.81 | 18.69 | 41.61 | 57.34 | -32.02 | 38.95 | -0.12 |
| EPS Growth % | -3613.76% | -1496.04% | 75.34% | 17.27% | -31.3% | -140.13% | 86.94% | 38.49% | -109.1% | -468.09% | 62.87% | 93.3% | 16.36% | -184.01% | 76.46% | 44.21% | -4418.76% | -47.51% | -55.08% | -27.43% | 279.08% | -182.21% | 32558.33% | - |
| EPS (Basic) | - | -32.24 | -2.02 | -8.19 | -9.90 | -7.54 | -3.14 | -24.04 | -39.08 | -18.69 | -3.29 | -10.93 | -132.20 | -158.05 | -55.65 | -236.36 | -423.67 | 9.84 | 18.75 | 46.01 | 63.66 | -32.02 | 39.68 | -0.02 |
| Diluted Shares Outstanding | 1.46M | 875.19K | 6.17M | 4.76M | 4.63M | 4.4M | 3.6M | 367.62K | 408.9K | 408.9K | 371K | 408.47K | 70.08K | 69.97K | 124.19K | 86.93K | 86.93K | 87.13K | 89.43K | 98.01K | 80.12K | 50.72K | 34.12K | 1.03M |
| Basic Shares Outstanding | 1.46M | 875.19K | 6.17M | 4.76M | 4.63M | 4.4M | 3.6M | 367.62K | 408.9K | 408.9K | 371K | 331.21K | 70.08K | 69.97K | 124.19K | 86.93K | 86.93K | 86.82K | 89.15K | 88.63K | 72.16K | 50.72K | 33.49K | 5.85M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total cessation of operations
As indicated by the most recent financial disclosures, SBLX has experienced a total cessation of commercial activity, with revenue growth consistently reporting at -100% over the last several quarters, signaling a complete breakdown in the company's historical project-based fleet sales model for its AYRO vehicle platforms.
The persistent absence of top-line revenue suggests that the company's previous reliance on lumpy, transactional fleet orders has failed to materialize into a sustainable or recurring business stream. Investors should interpret this trajectory as a potential pivot or liquidation scenario rather than an operational business in the traditional sense.
Based on reported figures, the company continues to incur significant SG&A expenses despite generating zero revenue, with quarterly overhead consistently exceeding $1.2 million, which highlights a structural inability to align the cost base with the current lack of active manufacturing or commercial output.
The maintenance of high SG&A and R&D spending in the absence of production suggests that the firm is burdened by fixed costs required to maintain technical compliance. This disconnect between expenditure and output implies that the current cost structure is highly inefficient and likely unsustainable without a fundamental strategic reset.
According to historical income statements, the company's net income figures have been frequently impacted by non-operating items and stock-based compensation, which often mask the underlying operational losses and complicate the assessment of the firm's true economic performance during periods of minimal commercial activity.
The presence of erratic net income swings, such as the $845,000 profit in 2025Q1 despite zero revenue, suggests that investors should focus on operating income to gauge the actual health of the business. These non-operating fluctuations warrant further investigation into the nature of the company's accounting adjustments and potential asset impairments.
While the market may perceive potential value in the company's clean balance sheet and $4.98 million in cash, the persistent negative operating margins and lack of revenue suggest that the firm is currently functioning as a distressed shell rather than a viable electric vehicle manufacturer.
Short-term observers might focus on the low debt levels as a sign of stability, but this ignores the rapid depletion of cash reserves required to fund ongoing overhead. The fundamental risk remains that the company's intellectual property may have become obsolete, leaving little value beyond the remaining liquid assets.
Quick answers to the most common questions about buying SBLX stock.
For fiscal year 2025, StableX Technologies, Inc. - Common Stock (SBLX) reported total revenue of $0.0M. This represents a 100.0% decline compared to $22.1M in 2003.
StableX Technologies, Inc. - Common Stock (SBLX) reported a net loss of $28.2M for the fiscal year ending 2025.