Revenue growth remains highly volatile, evidenced by a 67.4% year-over-year decline in 2025Q2, while gross margins have fluctuated wildly from a low of -128.3% in 2023Q4 to 13.8% in 2025Q2.
| Sales/Revenue | 391.13K | 615.55K | 307.58K | 78.34K | 340.98K |
| Revenue Growth % | -32.14% | 100.13% | 292.64% | -77.03% | - |
| Cost of Goods Sold | 141.5K | 200.8K | 40.39K | 783.06K | 504.34K |
| COGS % of Revenue | - | 32.62% | 13.13% | 999.62% | 147.91% |
| Gross Profit | 249.62K | 414.75K | 267.19K | -704.73K | -163.36K |
| Gross Margin % | 63.82% | 67.38% | 86.87% | -899.62% | -47.91% |
| Gross Profit Growth % | - | 55.23% | 137.91% | -331.4% | - |
| Operating Expenses | 7.07M | 7.91M | 5.02M | 5.69M | 8.41M |
| OpEx % of Revenue | - | 1284.8% | 1630.6% | 7262.1% | 2466.07% |
| Selling, General & Admin | 7.12M | 7.91M | 5.02M | 5.69M | 6.13M |
| SG&A % of Revenue | - | 1284.8% | 1630.6% | 7262.1% | 1798.55% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | -52.24K | 0 | 0 | 0 | 2.28M |
| Operating Income | -6.82M | -7.49M | -4.75M | -6.39M | -8.57M |
| Operating Margin % | -1743.04% | -1217.42% | -1543.73% | -8161.72% | -2513.98% |
| Operating Income Growth % | - | -57.83% | 25.74% | 25.42% | - |
| EBITDA | -6.53M | -7.26M | -4.56M | -6.39M | -8.2M |
| EBITDA Margin % | -1668.9% | -1179.66% | -1483.99% | -8159.47% | -2404.64% |
| EBITDA Growth % | -1.98% | -59.09% | 28.59% | 22.05% | - |
| D&A (Non-Cash Add-back) | 289.99K | 232.4K | 183.75K | 1.77K | 372.85K |
| EBIT | -6.4M | -7.94M | -4.62M | -6.08M | -8.73M |
| Net Interest Income | -718.71K | -774.4K | -856.57K | -596.65K | -77.32K |
| Interest Income | 10.62K | 13.16K | 0 | 1.1K | 1.19K |
| Interest Expense | 729.33K | 787.56K | 856.57K | 597.75K | 78.5K |
| Other Income/Expense | -307.43K | -1.23M | -729.94K | -280.25K | -231.95K |
| Pretax Income | -7.12M | -8.73M | -5.48M | -6.67M | -8.8M |
| Pretax Margin % | -1821.64% | -1417.58% | -1781.05% | -8519.47% | -2582.01% |
| Income Tax | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% |
| Net Income | -7.12M | -8.73M | -5.48M | -6.67M | -8.8M |
| Net Margin % | -1821.64% | -1417.58% | -1781.05% | -8519.47% | -2582.01% |
| Net Income Growth % | 5.41% | -59.29% | 17.92% | 24.2% | - |
| Net Income (Continuing) | -7.12M | -8.73M | -5.48M | -6.67M | -8.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.02 | -20.44 | -20.67 | -25.19 | -33.23 |
| EPS Growth % | 45.8% | 1.11% | 17.94% | 24.2% | - |
| EPS (Basic) | - | -20.44 | -20.67 | -25.19 | -33.23 |
| Diluted Shares Outstanding | 3.52M | 426.93K | 264.97K | 264.97K | 264.97K |
| Basic Shares Outstanding | 3.52M | 426.93K | 264.97K | 264.97K | 264.97K |
| Dividend Payout Ratio | - | - | - | - | - |
Imminent liquidity and insolvency risk
As indicated by the quarterly income statements, SGN's revenue trajectory remains highly erratic, with a recent 67.4% year-over-year decline in 2025Q2, highlighting the difficulty of maintaining a consistent subscription base within the competitive high school athletic recruitment market.
The lack of a clear, sustained growth trend suggests that the company's current customer acquisition model may be struggling to gain traction. Investors should monitor whether this volatility is a result of seasonal recruitment cycles or a fundamental inability to retain users beyond initial sign-ups.
According to historical financial data, SGN's gross margin has fluctuated wildly, reaching a low of -128.3% in 2023Q4 before recovering to 13.8% in 2025Q2, which suggests significant challenges in managing direct costs relative to the platform's revenue generation.
Such extreme variance in gross profitability implies that the company's cost of service is not yet optimized or scalable. This inconsistency warrants further investigation into whether the platform's underlying data verification processes are becoming more expensive as the user base attempts to expand.
Based on reported figures, SGN's SG&A expenses consistently dwarf revenue, with the company recording $1.6 million in SG&A against only $66.8 thousand in revenue during 2025Q2, illustrating a severe mismatch between corporate spending and operational output.
The current cost structure appears heavily weighted toward fixed corporate overhead rather than variable growth initiatives. This suggests that the company is operating with a public-company cost burden that its current revenue scale cannot support, creating a structural barrier to profitability.
As reported in recent filings, SGN's net losses are frequently exacerbated by significant stock-based compensation, including $137.1 thousand in 2025Q2 and $580.8 thousand in 2024Q4, which further dilutes shareholder value while the core business remains deeply unprofitable.
The reliance on equity-based incentives in a period of extreme cash burn suggests that management may be attempting to preserve liquidity at the expense of long-term dilution. Analysts should view these figures as a sign that the true economic cost of operations is higher than the reported net loss suggests.
Based on the provided financial statements, the company's cash position of $181,271 is insufficient to cover even a single quarter of current operating losses, which suggests that SGN faces an immediate risk of insolvency without significant external capital injection.
Short-sellers would likely focus on the widening gap between the company's cash reserves and its burn rate, which appears to be accelerating. The lack of a clear path to positive unit economics implies that the current business model may be unsustainable in its present form.
Quick answers to the most common questions about buying SGN stock.
For fiscal year 2024, Signing Day Sports, Inc. (SGN) reported total revenue of $0.6M. This represents a 80.5% increase compared to $0.3M in 2021.
Signing Day Sports, Inc. (SGN) reported a net loss of $8.7M for the fiscal year ending 2024.
Signing Day Sports, Inc. (SGN) reported an operating income of $-7.5M, resulting in an operating profit margin of -1217.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Signing Day Sports, Inc. (SGN) generated $0.4M in gross profit for the year, representing a gross profit margin of 67.4%. This demonstrates the company's core pricing power and production efficiency.