Revenue has scaled to $8.1M in 2026Q1 through inorganic integration, yet the company continues to struggle with structural profitability, evidenced by an operating margin of -89.7% for the same period.
| Net Interest Income | 717.39M | 1.83M | -115.83K | 0 | 148 | 3 |
| NII Growth % | 1791661.96% | 1680.2% | - | -100% | 4833.33% | - |
| Net Interest Margin % | 211.18% | 1% | -0.72% | 0% | 0% | 0% |
| Interest Income | 717.4M | 1.83M | 1.15K | 0 | 148 | 3 |
| Interest Expense | 887 | 519 | 116.98K | 0 | 0 | 0 |
| Loan Loss Provision | 11.25M | 7.43M | 3.9M | 0 | 0 | 0 |
| Non-Interest Income | -700.14M | 9.37M | 5.56M | 0 | -148 | 4.99K |
| Non-Interest Income % | -4058.15% | 83.65% | 99.98% | - | - | 99.94% |
| Total Revenue | 17.25M | 11.2M | 5.57M | 0 | 0 | 4.99K |
| Revenue Growth % | 530.75% | 101.23% | - | - | -100% | - |
| Non-Interest Expense | 35.14M | 28.92M | 18.54M | 2.38M | 1.17M | 166.87K |
| Efficiency Ratio | 203.69% | 258.21% | 333.1% | - | - | 3344.72% |
| Operating Income | -29.14M | -25.15M | -16.99M | -2.38M | -1.17M | -161.88K |
| Operating Margin % | -168.92% | -224.59% | -305.32% | - | - | -3244.72% |
| Operating Income Growth % | - | -48.02% | -612.9% | -103.38% | -623.95% | - |
| Pretax Income | -5.68M | -19.23M | -31.99M | -2.38M | -1.17M | -161.88K |
| Pretax Margin % | -32.93% | -171.71% | -574.88% | - | - | -3244.66% |
| Income Tax | -36.25K | -36.25K | -13.36K | 0 | 0 | 0 |
| Effective Tax Rate % | 0.64% | 0.19% | 0.04% | 0% | 0% | 0% |
| Net Income | -5.64M | -19.19M | -31.98M | -2.38M | -1.17M | -161.88K |
| Net Margin % | -32.72% | -171.38% | -574.64% | - | - | -3244.66% |
| Net Income Growth % | 83.47% | 39.98% | -1241.77% | -103.41% | -623.87% | - |
| Net Income (Continuing) | -5.64M | -19.19M | -31.98M | -2.38M | -1.17M | -161.88K |
| EPS (Diluted) | -0.12 | -0.74 | -3.84 | -0.31 | -0.17 | -0.02 |
| EPS Growth % | 89.04% | 80.73% | -1138.71% | -82.35% | -679.82% | - |
| EPS (Basic) | - | -0.74 | -3.84 | -0.31 | -0.17 | -0.02 |
| Diluted Shares Outstanding | 48.13M | 26.02M | 8.33M | 7.62M | 7.43M | 7.43M |
High operating burn rate
As indicated by the quarterly financial data, UMAC's revenue trajectory has shifted from sub-million dollar figures in early 2024 to $8.1M in 2026Q1, reflecting the aggressive integration of acquired assets like Fat Shark and Rotor Riot rather than organic market expansion within the drone sector.
The rapid revenue climb suggests that the company is successfully consolidating its niche, yet the lack of consistent organic growth data warrants caution. Investors should monitor whether this top-line momentum can be sustained once the initial acquisition-driven tailwinds subside and the company faces organic competitive pressures.
Based on reported income statements, gross margins have fluctuated between 24% and 39%, suggesting that the company's reliance on specialized hardware manufacturing and third-party e-commerce resale creates a structurally capped margin profile that remains vulnerable to component cost volatility and competitive pricing in the FPV market.
The inability to consistently expand gross margins above the 40% threshold implies that the current product mix may lack the pricing power necessary to offset high manufacturing overhead. This margin profile appears to be a significant hurdle for achieving long-term operational profitability without a shift toward higher-margin proprietary software or digital transmission technology.
According to the provided income statement data, UMAC continues to exhibit extreme operating inefficiency, with SG&A expenses frequently exceeding gross profit, resulting in operating margins as low as -198.7% in 2025Q4, which highlights a corporate structure that is currently oversized relative to its revenue base.
The persistent gap between gross profit and operating expenses suggests that the company is still in a heavy investment phase, likely burdened by the overhead of being a newly public entity. Unless management can demonstrate a clear path to scaling revenue without a commensurate increase in SG&A, the current operating leverage appears unsustainable.
As reported in financial filings, the company's net income figures are heavily influenced by non-cash items, including significant stock-based compensation reaching $6.1M in 2025Q4, which obscures the underlying operational performance and complicates the assessment of true economic profitability for the standalone entity.
The volatility in net income, which occasionally swings into positive territory despite massive operating losses, suggests that non-operating items or accounting adjustments are driving the bottom line. Investors should focus on operating cash flow rather than reported net income to gauge the actual health of the business.
While the company maintains a substantial $103M cash position, the current burn rate, evidenced by consistent quarterly operating losses, suggests that the balance sheet is currently decoupled from operational reality, raising questions about the long-term viability of the current business model without a pivot to profitability.
Short-sellers may focus on the discrepancy between the company's massive cash reserves and its inability to generate positive operating income. This disconnect warrants further investigation into whether the current capital allocation strategy is effectively building a sustainable moat or merely subsidizing an inefficient operating structure.
Quick answers to the most common questions about buying UMAC stock.
Unusual Machines, Inc. (UMAC) reported a net loss of $19.2M for the fiscal year ending 2025.
Unusual Machines, Inc. (UMAC) reported an operating income of $-25.2M, resulting in an operating profit margin of -224.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Unusual Machines, Inc. (UMAC) generated $3.8M in gross profit for the year, representing a gross profit margin of 33.6%. This demonstrates the company's core pricing power and production efficiency.