Revenue has plummeted to a negligible $63,000 in 2025Q2, while gross margins have deteriorated into negative territory at -3.8%.
VivoPower PLC (VIVO) annual income statement — 11-year revenue, gross profit & net income history
| Metric | TTM | Jun'26 | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 |
|---|
| Sales/Revenue | 77K | 2.54M | 61K | 16K | 4.05M | 22.45M | 23.98M | 48.71M | 39.04M | 33.65M | 32.25M | 0 |
| Revenue Growth % | - | 4072.13% | 281.25% | -99.61% | -81.94% | -6.37% | -50.78% | 24.78% | 16.02% | 4.33% | - | - |
| Cost of Goods Sold | 540K | 1.93M | 567K | -27K | 17.32M | 22.19M | 19.61M | 40.88M | 32.73M | 28.52M | 4.98M | 0 |
| COGS % of Revenue | - | 75.99% | 929.51% | -168.75% | 427.18% | 98.85% | 81.81% | 83.94% | 83.84% | 84.77% | 15.43% | - |
| Gross Profit | -463K | 611K | -506K | 43K | -2.22M | 259K | 4.36M | 7.83M | 6.31M | 5.12M | 27.27M | 0 |
| Gross Margin % | - | 24.01% | -829.51% | 268.75% | -54.8% | 1.15% | 18.19% | 16.06% | 16.16% | 15.23% | 84.57% | - |
| Gross Profit Growth % | - | 220.75% | -1276.74% | 101.94% | -957.92% | -94.06% | -44.27% | 24.01% | 23.17% | -81.22% | - | - |
| Operating Expenses | 16.8M | 25.95M | 8.23M | 8.56M | 9.08M | 14.28M | 9.38M | 7.25M | 9.11M | 14.07M | 9.99M | 279K |
| OpEx % of Revenue | - | 1019.69% | 13496.72% | 53512.5% | 223.97% | 63.63% | 39.1% | 14.87% | 23.32% | 41.83% | 30.97% | - |
| Selling, General & Admin | 15.75M | 26.51M | 8.23M | 7.52M | 6.42M | 13.33M | 9.65M | 5.48M | 7.68M | 12.81M | 9.32M | 279K |
| SG&A % of Revenue | - | 1041.77% | 13496.72% | 47006.25% | 158.45% | 59.36% | 40.25% | 11.25% | 19.69% | 38.08% | 28.89% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.59M | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | -3.26% | - | - | - | - |
| Other Operating Expenses | 1000K | -562K | 0 | 1.04M | 2.66M | 958K | -276K | 3.35M | 1.42M | 1.26M | 651K | 0 |
| Operating Income | -17.26M | -25.34M | -8.74M | -8.52M | -11.85M | -14.03M | -5.01M | 331K | -5.41M | -7.59M | 17.29M | -279K |
| Operating Margin % | - | -995.68% | -14326.23% | -53243.75% | -292.31% | -62.48% | -20.91% | 0.68% | -13.86% | -22.57% | 53.6% | - |
| Operating Income Growth % | - | -189.96% | -2.58% | 28.13% | 15.49% | -179.72% | -1614.8% | 106.12% | 28.77% | -143.94% | - | - |
| EBITDA | -15.11M | -24.46M | -8.22M | -6.95M | -10.51M | -12.08M | -3.21M | 2.1M | -3.99M | -6.33M | 17.94M | -256.18K |
| EBITDA Margin % | - | -961.1% | -13478.69% | -43418.75% | -259.28% | -53.83% | -13.38% | 4.31% | -10.22% | -18.83% | 55.62% | - |
| EBITDA Growth % | - | -197.49% | -18.35% | 33.93% | 12.99% | -276.53% | -253.03% | 152.56% | 37.02% | -135.32% | - | - |
| D&A (Non-Cash Add-back) | 2.15M | 880K | 517K | 1.57M | 1.34M | 1.94M | 1.8M | 1.77M | 1.42M | 1.26M | 651K | 22.82K |
| EBIT | -48.88M | -25.34M | -9.63M | -39.25M | -15.21M | -14.03M | -5.78M | 331K | 0 | 0 | 17.29M | 0 |
| Net Interest Income | -13.19M | -7.03M | -5.49M | -5.55M | -4.29M | -3.57M | -3.26M | -43K | -3.24M | -3.29M | -567K | 28.07K |
| Interest Income | -566K | 0 | 8K | -581K | 6K | 3.73M | 0 | 2.89M | 4K | 9K | 13K | 29.07K |
| Interest Expense | 12.62M | 0 | 5.5M | 4.97M | 4.3M | 3.73M | 3.26M | 2.93M | 3.24M | 3.3M | 580K | 1K |
| Other Income/Expense | -41.79M | -23.39M | -6.39M | -35.7M | -7.65M | -10.46M | -3.15M | -4.72M | -4.63M | -21.89M | -5.8M | -1K |
| Pretax Income | -59.05M | -48.73M | -15.13M | -44.22M | -19.51M | -24.49M | -8.16M | -4.39M | -10.67M | -34.14M | 10.9M | -281K |
| Pretax Margin % | - | -1914.93% | -24804.92% | -276350% | -481.04% | -109.08% | -34.06% | -9.01% | -27.32% | -101.46% | 33.8% | - |
| Income Tax | 912K | 1.62M | -691K | 1.6M | 559K | -1.97M | -138K | 713K | 557K | -6.26M | 5.33M | 1K |
| Effective Tax Rate % | -1.54% | -3.32% | 4.57% | -3.63% | -2.87% | 8.04% | 1.69% | -16.24% | -5.22% | 18.33% | 48.94% | -0.36% |
| Net Income | -59.49M | -49.73M | -12.79M | -46.7M | -20.1M | -22.05M | -7.57M | -5.1M | -11.22M | -27.88M | 5.57M | -281K |
| Net Margin % | - | -1954.11% | -20970.49% | -291875% | -495.68% | -98.24% | -31.58% | -10.48% | -28.75% | -82.86% | 17.26% | - |
| Net Income Growth % | - | -288.77% | 72.61% | -132.34% | 8.86% | -191.3% | -48.36% | 54.53% | 59.74% | -600.97% | - | - |
| Net Income (Continuing) | -59.96M | -50.35M | -14.44M | -45.82M | -20.07M | -22.52M | -8.03M | -5.1M | -11.22M | -27.88M | 5.57M | - |
| Discontinued Operations | -217K | 621K | 1.65M | -881K | 0 | 464K | 69K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 184K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | - | -2.59 | -1.92 | -15.17 | -9.87 | -10.86 | -4.69 | -3.60 | -4.40 | -20.60 | 7.30 | -3.06 |
| EPS Growth % | - | -34.9% | 87.34% | -53.7% | 9.12% | -131.56% | -30.28% | 18.18% | 78.64% | -382.19% | - | - |
| EPS (Basic) | - | -2.59 | -1.92 | -15.17 | -9.87 | -10.86 | -4.69 | -3.60 | -4.27 | -20.56 | 7.30 | -3.06 |
| Diluted Shares Outstanding | 6.66M | 19.44M | 6.66M | 3.08M | 2.47M | 2.07M | 1.63M | 1.36M | 1.36M | 1.36M | 762.44K | 551.44K |
| Basic Shares Outstanding | 6.66M | 19.2M | 6.66M | 3.08M | 2.47M | 2.03M | 1.62M | 1.36M | 1.31M | 1.35M | 762.44K | 551.44K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying VIVO stock.
For fiscal year 2026, VivoPower PLC (VIVO) reported total revenue of $2.5M.
VivoPower PLC (VIVO) reported a net loss of $49.7M for the fiscal year ending 2026.
VivoPower PLC (VIVO) reported an operating income of $-25.3M, resulting in an operating profit margin of -995.7%. This margin reflects the operational efficiency of the business before interest and taxes.
VivoPower PLC (VIVO) generated $0.6M in gross profit for the year, representing a gross profit margin of 24.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Imminent liquidity and insolvency risk
Revenue Collapse Signals Operational Stagnation
As reported in recent financial filings, VivoPower's revenue has plummeted to a negligible $63,000 in 2025Q2, representing a 98.9% year-over-year decline that underscores the company's current inability to maintain commercial scale or execute on its historical project-based business model within the competitive solar and EV sectors.
The precipitous drop in top-line performance suggests that the company has effectively ceased meaningful operations, transitioning from a diversified energy player to a distressed entity. Investors should monitor whether this contraction is a permanent loss of market share or a temporary pause while management attempts to pivot toward the Tembo EV conversion business.
Structural Margin Erosion Remains Persistent
Based on the provided income statement data, the company's gross margin has deteriorated into negative territory, reaching -3.8% in the most recent quarter, which indicates that the direct costs of production now consistently exceed the value of the limited revenue generated by its core business segments.
This negative margin profile implies a fundamental breakdown in unit economics, where the cost of maintaining inventory and production facilities is not being offset by sales volume. Such structural weakness suggests that the company lacks the pricing power necessary to cover its direct costs, let alone its significant corporate overhead.
Operating Leverage Constrained by Overhead
According to the latest quarterly figures, VivoPower continues to report significant operating losses, with SG&A expenses of $2.4 million far outpacing the minimal gross profit, highlighting a lack of operating leverage that leaves the firm highly vulnerable to its own fixed cost structure during this downturn.
The inability to scale operating income relative to gross profit suggests that the company's current expense base is misaligned with its actual commercial output. This persistent disconnect between overhead and revenue generation warrants further investigation into the sustainability of the firm's current administrative and operational footprint.
Distressed Valuation Masks Insolvency Risks
While some market participants may view the company as a speculative call option on EV technology, the income statement reveals a consistent pattern of net losses and cash depletion that suggests the current valuation may be ignoring the high probability of a total loss of equity value.
Short-sellers would likely focus on the company's inability to convert non-binding letters of intent into GAAP revenue, which remains the primary driver of the current financial distress. The reliance on external financing to cover operating losses suggests that the business model may be fundamentally unsustainable without continuous, highly dilutive capital injections.