Revenue has contracted by 40% year-over-year as of 2025Q3, while structural inefficiencies have driven gross margins to a deeply negative -102.5%.
| Metric | TTM | 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 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 3.38M | 4.98M | 16.52M | 24.39M | 38.34M | 8.76M | 2.98M | 8.19M | 5.06M | 4.27M | 2.41M | 6.04M | 5.73M | 2.45M | 3.96M | 1.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 255.95K | 431.59K | 122.55K | 143.13K | 100K |
| Revenue Growth % | -42.56% | -69.88% | -32.27% | -36.38% | 337.91% | 193.34% | -63.56% | 61.81% | 18.63% | 77.35% | -60.15% | 5.3% | 133.9% | -38.18% | 106.88% | - | - | - | - | - | - | - | - | - | -100% | -40.7% | 252.19% | -14.38% | 43.13% | - |
| Cost of Goods Sold | 6.34M | 5.22M | 19.08M | 21.14M | 36.01M | 6.54M | 2.31M | 7.65M | 4.43M | 3.76M | 1.9M | 4.57M | 5.15M | 2M | 3.41M | 1.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 216.04K | 554.83K | 613.49K | 119.76K | 100K |
| COGS % of Revenue | - | 104.9% | 115.47% | 86.66% | 93.93% | 74.64% | 77.31% | 93.37% | 87.48% | 88.09% | 78.89% | 75.7% | 89.81% | 81.52% | 85.95% | 69.87% | - | - | - | - | - | - | - | - | - | 84.41% | 128.56% | 500.63% | 83.67% | 100% |
| Gross Profit | -2.95M | -244K | -2.56M | 3.25M | 2.33M | 2.22M | 677.35K | 542.73K | 633.81K | 507.92K | 507.92K | 1.47M | 583.56K | 452.93K | 556.88K | 577.41K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39.91K | -123K | -491K | 23.37K | 0 |
| Gross Margin % | -87.33% | -4.9% | -15.47% | 13.34% | 6.07% | 25.36% | 22.69% | 6.63% | 12.52% | 11.9% | 21.11% | 24.3% | 10.18% | 18.48% | 14.04% | 30.13% | - | - | - | - | - | - | - | - | - | 15.59% | -28.5% | -400.67% | 16.33% | - |
| Gross Profit Growth % | - | 90.46% | -178.56% | 39.71% | 4.9% | 227.78% | 24.8% | -14.37% | 24.78% | 0% | -65.38% | 151.39% | 28.84% | -18.67% | -3.56% | - | - | - | - | - | - | - | - | - | -100% | 132.44% | 74.95% | -2200.71% | - | - |
| Operating Expenses | 9.76M | 9.46M | 19.19M | 10.48M | 8.31M | 6.8M | 7.38M | 5.39M | 3.9M | 914.46K | 1.95M | 2.22M | 2.44M | 2.39M | 2.62M | 35.52K | 31.34K | 36.03K | 35.07K | 33.98K | 34.06K | 41.78K | 52.21K | 51.95K | 56.69K | 248.47K | 2.09M | 1.88M | 1.3M | 800K |
| OpEx % of Revenue | - | 190.13% | 116.16% | 42.98% | 21.68% | 77.7% | 247.3% | 65.79% | 76.95% | 21.43% | 81.17% | 36.77% | 42.6% | 97.63% | 65.98% | 1.85% | - | - | - | - | - | - | - | - | - | 97.08% | 484.95% | 1530.87% | 911.75% | 800% |
| Selling, General & Admin | 8.19M | 7.9M | 13.22M | 10.48M | 8.26M | 6.67M | 4.42M | 5.31M | 3.84M | 914.46K | 1.92M | 2.19M | 2.44M | 2.39M | 2.62M | 35.52K | 31.34K | 36.03K | 35.07K | 33.98K | 34.06K | 41.78K | 52.21K | 51.95K | 56.69K | 186.59K | 1.53M | 1.72M | 1.1M | 400K |
| SG&A % of Revenue | - | 158.64% | 79.99% | 42.98% | 21.55% | 76.21% | 148.13% | 64.88% | 75.82% | 21.43% | 79.72% | 36.25% | 42.6% | 97.63% | 65.98% | 1.85% | - | - | - | - | - | - | - | - | - | 72.9% | 354.51% | 1403.57% | 768.52% | 400% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.62K | 122.36K | 156.03K | 168.96K | 200K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.93% | 28.35% | 127.32% | 118.04% | 200% |
| Other Operating Expenses | 1000K | 1.57M | 5.98M | 0 | 48.79K | 130.71K | 2.96M | 74.63K | 0 | 0 | 35.08K | 31.33K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49.26K | 440.95K | 0 | 0 | 200K |
| Operating Income | -12.71M | -9.71M | -21.75M | -7.23M | -5.98M | -4.58M | -6.7M | -4.85M | -3.26M | -407K | -1.45M | -753K | -1.86M | -1.94M | -2.06M | -35.52K | -31.34K | -36.03K | -35.07K | -33.98K | -34.06K | -41.78K | -52.21K | -51.95K | -56.69K | -208.56K | -2.22M | -2.37M | -1.28M | -800K |
| Operating Margin % | -375.79% | -195.04% | -131.63% | -29.64% | -15.6% | -52.34% | -224.6% | -59.17% | -64.42% | -9.54% | -60.06% | -12.47% | -32.43% | -79.15% | -51.93% | -1.85% | - | - | - | - | - | - | - | - | - | -81.48% | -513.45% | -1931.54% | -895.68% | -800% |
| Operating Income Growth % | - | 55.37% | -200.82% | -20.85% | -30.55% | 31.64% | -38.34% | -48.61% | -701.23% | 71.83% | -91.9% | 59.49% | 4.18% | 5.78% | -5696.73% | -13.33% | 13.01% | -2.73% | -3.2% | 0.23% | 18.47% | 19.98% | -0.5% | 8.36% | 72.82% | 90.59% | 6.38% | -84.63% | -60.25% | - |
| EBITDA | -11.7M | -8.21M | -18.76M | -5.96M | -5.42M | -4.38M | -6.55M | -4.25M | -2.67M | -112.19K | -1.44M | -749.02K | -1.86M | -1.94M | -2.06M | -32.69K | -31.34K | -35.59K | -10.57K | -30.45K | -30.94K | -35.21K | -50.17K | -49.38K | 51.3K | -159.3K | -1.78M | -2.25M | -1.24M | -1M |
| EBITDA Margin % | -345.72% | -164.92% | -113.52% | -24.45% | -14.13% | -50.07% | -219.42% | -51.89% | -52.75% | -2.63% | -59.9% | -12.41% | -32.37% | -79.05% | -51.87% | -1.71% | - | - | - | - | - | - | - | - | - | -62.24% | -411.29% | -1835.81% | -867.51% | -1000% |
| EBITDA Growth % | 27.63% | 56.24% | -214.51% | -10.07% | -23.6% | 33.07% | -54.11% | -59.15% | -2280.15% | 92.22% | -92.42% | 59.64% | 4.2% | 5.8% | -6191.18% | -4.31% | 11.94% | -236.58% | 65.27% | 1.58% | 12.15% | 29.82% | -1.61% | -196.26% | 132.2% | 91.03% | 21.1% | -81.18% | -24.17% | - |
| D&A (Non-Cash Add-back) | 1.02M | 1.5M | 2.99M | 1.27M | 564.62K | 199.2K | 154.75K | 596.38K | 590.78K | 294.81K | 3.73K | 3.98K | 2.98K | 2.54K | 2.16K | 2.83K | 0 | 439 | 24.5K | 3.54K | 3.13K | 6.56K | 2.04K | 2.57K | 107.99K | 49.26K | 440.95K | 117.3K | 40.32K | -200K |
| EBIT | -16.34M | -16.54M | -21.13M | -6.75M | -5.91M | -4.5M | -6.74M | -4.84M | -4.18M | -1.27M | -799K | -470K | -1.47M | -1.76M | -1.91M | -32.69K | -31.34K | -35.59K | -10.57K | -30.45K | -30.94K | -35.21K | -102.38K | -101.33K | -13.38K | -208.56K | -2.22M | -2.37M | -1.3M | -800K |
| Net Interest Income | -1.08M | -3.13M | -1.43M | -262K | 56.01K | 52.4K | -179K | 4 | -330K | -697K | -1.94M | -1.07M | -689K | -8.08K | -3.62K | -396.12K | -1.42K | 36.47K | 37.57K | 37.52K | 37.19K | 43.45K | 54.25K | 54.52K | 64.68K | 10.22K | 0 | 144.09K | 0 | -200K |
| Interest Income | 107.47K | 0 | 0 | 73.82K | 57.27K | 61.67K | 0 | 4 | 15 | 15 | 0 | 0 | 126 | 139 | 110 | 0 | 1 | 439 | 2.5K | 3.54K | 3.13K | 1.68K | 2.04K | 2.57K | 7.99K | 10.66K | 0 | 144.09K | 0 | 0 |
| Interest Expense | 1.18M | 3.13M | 1.43M | 336.24K | 1.25K | 9.28K | 179K | 0 | 330.39K | 696.72K | 1.94M | 1.07M | 689.16K | 8.22K | 3.73K | 396.15K | 1.42K | -36.03K | 0 | 0 | 0 | 0 | -52.21K | -51.95K | -56.69K | 445 | 0 | 0 | 0 | 200K |
| Other Income/Expense | -6.45M | -9.96M | -808.16K | 140.73K | 74.48K | 74.67K | -216.53K | 2.14K | -1.25M | -1.56M | -1.3M | -785K | -305K | 174.4K | 149.5K | 79.86K | -1.42K | 439 | 24.5K | 3.54K | 3.13K | 6.56K | 2.04K | 2.57K | 107.99K | 10.22K | -502K | 10.21K | 75.43K | -200K |
| Pretax Income | -19.16M | -19.66M | -22.56M | -7.09M | -5.91M | -4.51M | -6.92M | -4.84M | -4.51M | -1.97M | -2.74M | -1.54M | -2.16M | -1.77M | -1.91M | -35.2K | -32.76K | -35.59K | -10.57K | -30.45K | -30.94K | -35.21K | -50.17K | -49.38K | 51.3K | -198.34K | -2.67M | -2.36M | -1.21M | 0 |
| Pretax Margin % | -566.37% | -395.1% | -136.52% | -29.06% | -15.41% | -51.49% | -231.86% | -59.14% | -89.15% | -46.19% | -114.01% | -25.46% | -37.73% | -72.05% | -48.17% | -1.84% | - | - | - | - | - | - | - | - | - | -77.49% | -619.34% | -1923.38% | -842.58% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.14K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35.2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.67M | -10.21K | -800 | 900K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.04% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -100% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -100% | 0.43% | 0.07% | - |
| Net Income | -19.25M | -16.98M | -26.28M | -8.32M | -10.83M | -4.69M | -6.92M | -4.84M | -4.51M | -2.74M | -2.74M | -1.54M | -2.16M | -1.77M | -1.91M | -35.2K | -32.76K | -35.59K | -10.57K | -30.45K | -30.94K | -35.21K | -50.17K | -49.38K | 51.3K | -198.34K | -2.67M | -2.36M | -1.2M | -900K |
| Net Margin % | -569.09% | -341.17% | -159.07% | -34.1% | -28.25% | -53.6% | -231.86% | -59.14% | -89.15% | -64.28% | -114.01% | -25.46% | -37.73% | -72.05% | -48.17% | -1.84% | - | - | - | - | - | - | - | - | - | -77.49% | -619.34% | -1923.38% | -838.39% | -900% |
| Net Income Growth % | 29.76% | 35.39% | -215.93% | 23.2% | -130.84% | 32.19% | -42.87% | -7.33% | -64.53% | 0% | -78.46% | 28.94% | -22.48% | 7.54% | -5325.52% | -7.45% | 7.94% | -236.58% | 65.27% | 1.58% | 12.15% | 29.82% | -1.61% | -196.26% | 125.86% | 92.58% | -13.41% | -96.42% | -33.33% | - |
| Net Income (Continuing) | -19.16M | -19.66M | -22.56M | -7.09M | -5.91M | -4.51M | -6.92M | -4.84M | -4.51M | -1.97M | -2.74M | -1.54M | -2.16M | -1.77M | -1.91M | -35.2K | -32.76K | -35.59K | -10.57K | -30.45K | -30.94K | -35.21K | -50.17K | -49.38K | 51.3K | -198.34K | -2.67M | -2.36M | -1.2M | -900K |
| Discontinued Operations | -91.33K | 2.69M | -3.73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 1.12M | -382.61K | 1.36M | 184.57K | 0 | 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) | -45.92 | -673.92 | -2177.92 | -798.72 | -1484.80 | -1011.20 | -29248.00 | -29096.96 | -49920.00 | -9779.84 | -4908.80 | -2759.04 | -3925.12 | -3072.00 | -3840.00 | -6.25 | -2.02 | -2.19 | -0.65 | -1.88 | -1.90 | -2.17 | -3.08 | -3.04 | 3.16 | -4608.00 | -66048.00 | -59136.00 | -40704.00 | -47616.00 |
| EPS Growth % | 88% | 69.06% | -172.68% | 46.21% | -46.84% | 96.54% | -0.52% | 41.71% | -410.44% | -99.23% | -77.92% | 29.71% | -27.77% | 20% | -61312.49% | -210.16% | 7.89% | -235.29% | 65.19% | 1.35% | 12.39% | 29.67% | -1.47% | -196.35% | 100.07% | 93.02% | -11.69% | -45.28% | 14.52% | - |
| EPS (Basic) | - | -673.92 | -2177.92 | -798.72 | -1484.80 | -1011.20 | -29248.00 | -29096.96 | -49920.00 | -9779.84 | -4908.80 | -2759.04 | -3925.12 | -3072.00 | -3840.00 | -6.25 | -2.02 | -2.19 | -0.65 | -1.88 | -1.90 | -2.17 | -3.08 | -3.04 | 3.16 | -4608.00 | -66048.00 | -59136.00 | -40704.00 | -47616.00 |
| Diluted Shares Outstanding | 419.22K | 34.34K | 12.36K | 10.67K | 7.47K | 4.77K | 242 | 170 | 92 | 287 | 686.7K | 1.71K | 1.69K | 11.03K | 9.44K | 5.76K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.37K | 13.08K | 7.74K |
| Basic Shares Outstanding | 419.22K | 34.34K | 12.36K | 10.67K | 7.47K | 4.77K | 242 | 170 | 92 | 287 | 1.72K | 1.71K | 1.69K | 11.03K | 1.42K | 5.76K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.64K | 16.37K | 13.08K | 7.74K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity shortfall
As evidenced by the most recent quarterly filings, SGBX has experienced a sustained revenue decline, with the latest period showing a 40% year-over-year contraction, reflecting a broader trend of diminishing project volume that has plagued the company's top-line performance over the past ten consecutive quarters.
The consistent double-digit revenue declines suggest that the company's project-based model is struggling to gain traction in a competitive modular construction market. This downward trajectory indicates that the firm's current pipeline is insufficient to replace completed contracts, raising concerns about the durability of its business model.
According to reported financial statements, SGBX's gross margin has deteriorated significantly, reaching a negative 102.5% in 2025Q3, which highlights an inability to cover direct production costs and suggests that the company is currently operating at a substantial loss on every unit fabricated.
The shift from positive gross margins in early 2024 to deep negative territory indicates severe inefficiencies in the manufacturing process or aggressive under-pricing to secure limited work. Investors should monitor whether this margin compression is a temporary byproduct of low capacity utilization or a permanent structural flaw in the cost-to-revenue ratio.
Based on the income statement data, SG&A expenses remain disproportionately high relative to the company's shrinking revenue base, with quarterly overhead consistently exceeding $1.4 million even as top-line figures have collapsed to approximately $1.1 million, indicating a lack of effective expense discipline during this downturn.
The company's inability to scale down its operating expenses in alignment with declining revenue suggests a rigid cost structure that continues to drain liquidity. This mismatch between fixed overhead and operational output appears to be a primary driver of the persistent net losses observed over the last two years.
Financial disclosures reveal a precarious cash position of only $375,873, which, when contrasted against a trailing twelve-month net loss exceeding $16 million, suggests that the company faces an acute risk of insolvency without immediate external capital injections or a radical shift in operational efficiency.
The disparity between the company's cash reserves and its ongoing burn rate warrants extreme caution, as it implies that the current business model is not self-sustaining. Market participants should consider the high probability of dilutive financing or asset divestitures as the company attempts to address its immediate liquidity requirements.
Quick answers to the most common questions about buying SGBX stock.
For fiscal year 2024, Safe & Green Holdings Corp. (SGBX) reported total revenue of $5.0M. This represents a 4877.0% increase compared to $0.1M in 1996.
Safe & Green Holdings Corp. (SGBX) reported a net loss of $17.0M for the fiscal year ending 2024.
Safe & Green Holdings Corp. (SGBX) reported an operating income of $-9.7M, resulting in an operating profit margin of -195.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Safe & Green Holdings Corp. (SGBX) generated $-0.2M in gross profit for the year, representing a gross profit margin of -4.9%. This demonstrates the company's core pricing power and production efficiency.