Revenue trajectory remains highly inconsistent, evidenced by a massive $732.0B figure in 2026Q1 that contrasts sharply with the negative $13.9M reported in 2025Q4.
| Metric | TTM | Dec'25 | 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 |
|---|
| Sales/Revenue | 732.03B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 59.82M | 34.89M | -24.34M | 20.25M | -118.86M | 157.78M | 89.43M | 36.34M | 16.4K | 21.78M | -69.43M | 35.89M | -10.58M | -18.99M | -6.56M | -1.01M |
| Gross Margin % | 0.01% | 100% | -520.88% | 306.89% | -3439% | 10727.18% | 4902.52% | 2429.57% | 1.01% | 2554.61% | -9430.46% | 12339.35% | -5687.91% | -38795.65% | -2642.74% | -622.67% |
| Gross Profit Growth % | - | 243.32% | -220.24% | 117.03% | -175.33% | 76.43% | 146.09% | 221510.37% | -99.92% | 131.37% | -293.44% | 439.38% | 44.31% | -189.67% | -548.62% | - |
| Operating Expenses | 4.71T | -18.82M | 13.78M | 15.18M | 13.32M | 10.71M | 14.09M | 12.39M | -875.35K | 4.22M | 5.56M | 5.8M | 5.55M | 23.45M | 20.08M | 1.02M |
| OpEx % of Revenue | - | -53.93% | 294.88% | 230.09% | 385.36% | 728.03% | 772.46% | 828.09% | -54.11% | 494.5% | 755.14% | 1994.51% | 2987.41% | 47914.08% | 8095.2% | 630.26% |
| Selling, General & Admin | 872.73B | 2.24T | 4.53M | 5.07M | 5.67M | 4.54M | 5.25M | 8.07M | 4.53M | 4.87M | 5.56M | 4.92M | 17.07M | 20.71M | 8.53M | 968.06K |
| SG&A % of Revenue | - | 6434237.62% | 96.99% | 76.88% | 164.05% | 308.4% | 287.55% | 539.22% | 280.26% | 571.35% | 755.14% | 1691.73% | 9180.14% | 42299.19% | 3438.83% | 596.36% |
| Research & Development | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 57.61B | 53.71M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 30.09M | -16.88M | -20.66M | -8.28M | -2.03M |
| Operating Margin % | 7.87% | 153.93% | -815.77% | 76.81% | -3824.35% | 9999.15% | 4130.05% | 1601.48% | 55.12% | 2060.11% | -10185.61% | 10344.84% | -9080.14% | -42199.19% | -3338.83% | -1252.93% |
| Operating Income Growth % | - | 240.87% | -852.43% | 103.83% | -189.87% | 95.22% | 214.51% | 2586.17% | -94.92% | 123.43% | -349.21% | 278.23% | 18.26% | -149.39% | -307.25% | - |
| EBITDA | 57.61B | 53.71M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 30.09M | 0 | 0 | 0 | -3.61M |
| EBITDA Margin % | 7.87% | 153.93% | -815.77% | 76.81% | -3824.35% | 9999.15% | 4130.05% | 1601.48% | 55.12% | 2060.11% | -10185.61% | 10344.84% | - | - | - | -2226.15% |
| EBITDA Growth % | 341668.4% | 240.87% | -852.43% | 103.83% | -189.87% | 95.22% | 214.51% | 2586.17% | -94.92% | 123.43% | -349.21% | - | - | - | 100% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.88M | 20.66M | 8.28M | -1.58M |
| EBIT | 57.61B | 53.71M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 30.09M | 0 | 36.66M | -19.83M | 0 |
| Net Interest Income | -2.64M | -3.4M | -1.4M | 1.03M | -1.93M | 204.25K | -1.24M | -1.38M | -3.55M | -4.39M | -4.21M | -4.72M | -5.5M | -1.28M | 222.05K | 158.39K |
| Interest Income | 1.19M | 1.69M | 3.44M | 5.89M | 2.91M | 897.77K | 1.01M | 995.72K | 992.84K | 304.67K | 523.49K | 244.12K | 0 | 0 | 222.05K | 158.39K |
| Interest Expense | 1.22T | 5.09M | 4.84M | 4.86M | 4.85M | 693.53K | 2.25M | 2.37M | 4.55M | 4.7M | 4.73M | 4.96M | 5.5M | 1.28M | 0 | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 57.61B | 48.62M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 30.09M | -10.87M | 22.22M | -19.83M | -3.61M |
| Pretax Margin % | 7.87% | 139.35% | -815.77% | 76.81% | -3824.35% | 9999.15% | 4130.05% | 1601.48% | 55.12% | 2060.11% | -10185.61% | 10344.84% | -5847.33% | 45401.27% | -7995.2% | -2226.15% |
| Income Tax | 57.56B | -190.79K | 0 | 0 | 0 | 0 | 0 | -885.57K | -6.72M | -2.76M | 0 | 21.63M | -8.81M | -13.16M | 0 | 0 |
| Effective Tax Rate % | 99.91% | -0.39% | 0% | 0% | 0% | 0% | 0% | -3.7% | -753.21% | -15.69% | 0% | 71.87% | 81.03% | -59.21% | 0% | 0% |
| Net Income | 49.62M | 48.81M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 8.47M | -2.06M | 35.38M | -19.83M | -3.61M |
| Net Margin % | 0.01% | 139.9% | -815.77% | 76.81% | -3824.35% | 9999.15% | 4130.05% | 1601.48% | 55.12% | 2060.11% | -10185.61% | 2910.37% | -1109.34% | 72283.8% | -7995.2% | -2226.15% |
| Net Income Growth % | 394.18% | 228.02% | -852.43% | 103.83% | -189.87% | 95.22% | 214.51% | 2586.17% | -94.92% | 123.43% | -985.82% | 510.43% | -105.83% | 278.4% | -448.87% | - |
| Net Income (Continuing) | 49.62M | 48.81M | -38.12M | 5.07M | -132.18M | 147.07M | 75.34M | 23.95M | 891.74K | 17.57M | -74.99M | 8.47M | -2.06M | 35.38M | -19.83M | -3.61M |
| Discontinued Operations | 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 | 10.25M | 8.54M | 59.18M | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.65 | 1.78 | -1.60 | 0.19 | -4.40 | 5.52 | 3.56 | 1.14 | 0.04 | 0.80 | -3.38 | 0.44 | -0.11 | 1.78 | -1.23 | -1.07 |
| EPS Growth % | 355.61% | 211.25% | -942.11% | 104.32% | -179.71% | 55.06% | 212.28% | 2532.79% | -94.59% | 123.67% | -868.18% | 500% | -106.18% | 244.72% | -14.95% | - |
| EPS (Basic) | - | 2.01 | -1.60 | 0.19 | -4.40 | 5.69 | 4.21 | 1.24 | 0.04 | 0.80 | -3.38 | 0.44 | -0.11 | 1.83 | -1.23 | -1.07 |
| Diluted Shares Outstanding | 30.16M | 28.79M | 23.9M | 26.22M | 30.02M | 26.76M | 21.79M | 23.07M | 20.62M | 21.92M | 22.18M | 19.33M | 19.32M | 20.54M | 16.1M | 3.38M |
| Basic Shares Outstanding | 25.38M | 24.23M | 23.9M | 26.22M | 30.02M | 26.67M | 21.16M | 21.07M | 22.29M | 21.96M | 22.18M | 19.33M | 18.75M | 19.83M | 16.1M | 3.38M |
| Dividend Payout Ratio | - | 24.51% | - | - | - | - | - | - | - | - | - | 311.34% | - | - | - | - |
Portfolio Valuation Volatility
As indicated by the reported financial data, SuRo Capital's revenue trajectory remains highly inconsistent, characterized by extreme quarterly fluctuations such as the $732.0B figure in 2026Q1, which suggests a reliance on non-recurring exit events rather than a stable, predictable growth model within the venture-backed asset class.
The absence of recurring revenue streams forces the firm to rely on the timing of liquidity events, which creates significant volatility in top-line performance. Investors should monitor whether the firm can sustain its portfolio valuation in the absence of favorable IPO market conditions, as current growth appears tethered to sporadic capital gains.
Based on the provided income statements, SuRo Capital exhibits extreme margin instability, with operating margins swinging from -24.1% in 2025Q1 to 144.8% in 2025Q4, reflecting the inherent difficulty in maintaining consistent profitability when earnings are primarily derived from unrealized valuation adjustments on private equity holdings.
The firm's inability to maintain stable margins suggests that its profitability is highly sensitive to the subjective marking of Level 3 assets. This lack of structural margin consistency complicates valuation efforts and implies that reported earnings may not accurately reflect the underlying cash-generating capacity of the business.
According to the latest financial disclosures, the quality of SuRo Capital's net income is compromised by its heavy dependence on non-cash valuation adjustments, as evidenced by the massive $599.3B stock-based compensation expense in 2026Q1, which significantly obscures the firm's true operational performance and shareholder value creation.
The reliance on unrealized appreciation to drive net income suggests that reported earnings are prone to sudden reversals if private market valuations correct. Analysts should prioritize cash-based net investment income over headline net income to better assess the firm's ability to fund operations and dividends without relying on paper gains.
As reported in recent filings, the firm's 0% debt-to-equity ratio and high concentration in late-stage tech assets suggest that SuRo Capital may be vulnerable to a liquidity crunch if the IPO window remains closed, potentially forcing the firm to realize losses on its private portfolio holdings.
Short-sellers might focus on the disconnect between the firm's internal valuation marks and the broader public market's assessment of tech-sector risk. The lack of leverage, while providing a safety buffer, may also indicate an inability to deploy capital effectively, leaving the firm exposed to stagnant growth during market downturns.
Quick answers to the most common questions about buying SSSS stock.
SuRo Capital Corp. (SSSS) is profitable, generating $48.8M in net income for the fiscal year ending 2025 with a net profit margin of 139.9%.
SuRo Capital Corp. (SSSS) reported an operating income of $53.7M, resulting in an operating profit margin of 153.9%. This margin reflects the operational efficiency of the business before interest and taxes.
SuRo Capital Corp. (SSSS) generated $34.9M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.