Netcapital Inc.
Business
Netcapital Inc. is a fintech company operating an SEC-registered funding portal that enables private companies to raise capital online from accredited and non-accredited investors under Regulation Crowdfunding (Reg CF) and Regulation A (Reg A). The company generates fees through listing charges, success-based portal fees, and advisory services via its subsidiary Netcapital Advisors, which also maintains an investment portfolio in early-stage companies. Netcapital operates primarily through its web-based platform at netcapital.com, serving U.S. investors, and recently obtained broker-dealer licensing to expand into Reg A and Reg D offerings.
Summary from 10-K filed 2025-08-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Revenues | 869,460 | 5 | 8 | — | — | |
| Costs of services | 40,344 | 108,060 | 85,038 | 110,115 | 759,158 | |
| Gross profit | 829,116 | 5 | 8 | 5 | 4 | |
| Consulting expense | 314,947 | 610,209 | 589,349 | 892,567 | 687,191 | |
| Marketing | 37,699 | 333,771 | 85,482 | 95,753 | 44,929 | |
| Rent | 79,568 | 76,117 | 75,052 | — | — | |
| Payroll and payroll related expenses | 4 | 4 | 4 | 4 | 3 | |
| General and administrative costs | 5 | 3 | — | — | — | |
| Total costs and expenses | 9 | 8 | 6 | 6 | 4 | |
| Operating loss | −8 | −3 | 2 | −1 | −401,501 | |
| Interest expense | −41,289 | −45,990 | −93,842 | — | — | |
| Amortization of intangible assets | −35,476 | −93,862 | −96,407 | — | — | |
| Impairment expense | −20 | −1 | — | — | — | |
| Other income | 1,200 | 1,200 | 51,645 | — | — | |
| Unrealized gain (loss) on equity securities | 18,050 | −3 | 2 | — | — | |
| Accretion on short-term notes | −6,937 | — | — | — | — | |
| Total other income (expense) | −20 | −4 | 2 | 5 | 2 | |
| Net loss before taxes | −28 | −7 | — | — | — | |
| Income tax expense (benefit) | — | −2 | 854,000 | 544,000 | −613,000 | |
| Net loss | −28 | −5 | 3 | 4 | 1 | |
| Basic loss per share | −20.39 | −28.83 | 0.63 | 1.31 | 1.18 | |
| Diluted loss per share | −20.39 | −28.83 | 0.63 | 1.27 | 0.89 | |
| Basic | 1 | 172,937 | 5 | 3 | 1 | |
| Diluted | 1 | 172,937 | 5 | 3 | 2 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2024 2024-01-31 | FY 2023 2023-10-31 | FY 2023 2023-07-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 289,428 | 863,182 | — | — | — | |
| Accounts receivable net | 78,649 | 134,849 | — | — | — | |
| Note receivable | — | 20,000 | — | — | — | |
| Other receivables | — | 1,200 | — | — | — | |
| Prepaid expenses | 31,535 | 23,304 | — | — | — | |
| Total current assets | 399,612 | 1 | — | — | — | |
| Deposits | 6,300 | 6,300 | — | — | — | |
| Notes receivable - related parties | 50,000 | 202,000 | — | — | — | |
| Purchased technology, net | 15 | 15 | — | — | — | |
| Investment in affiliate | — | 240,080 | — | — | — | |
| Equity securities | 6 | 25 | — | — | — | |
| Total assets | 21 | 42 | — | — | — | |
| Accounts payable | 3 | 793,325 | — | — | — | |
| Accrued expenses | 269,971 | 310,300 | — | — | — | |
| Short-term promissory notes | 263,437 | — | — | — | — | |
| Deferred revenue | 330 | 466 | — | — | — | |
| Interest payable | 100,797 | 92,483 | — | — | — | |
| Current portion of SBA loans | 2 | 2 | — | — | — | |
| Loan payable - bank | 34,324 | 34,324 | — | — | — | |
| Total current liabilities | 5 | 3 | — | — | — | |
| Long-term SBA loans, less current portion | 500,000 | 500,000 | — | — | — | |
| Total liabilities | 6 | 4 | — | — | — | |
| Commitments and contingencies | — | — | — | — | — | |
| Common stock, $.001 par value; 900,000,000 shares authorized, 2,192,226 and 326,867 shares issued and outstanding | 2,192 | 327 | — | — | — | |
| Shares to be issued | 200,000 | 122,124 | — | — | — | |
| Capital in excess of par value | 43 | 37 | — | — | — | |
| Retained earnings | −28 | 479,563 | — | — | — | |
| Total stockholders equity | 15 | 38 | 40 | 39 | 38 | |
| Total liabilities and stockholders equity | 21 | 42 | — | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 757,484 | 1 | 269,577 | 1 | 680,611 | |
| Receipt of equity in lieu of cash | −72,090 | −3 | −8 | — | — | |
| Provision for bad debts | 178,534 | 267,500 | 5,443 | 76,630 | 60,325 | |
| Changes in deferred taxes | — | −2 | 680,000 | 544,000 | 613,000 | |
| Accounts receivable | 52,066 | −293,849 | 1 | −1 | −1 | |
| Prepaid expenses | −8,231 | −4,878 | −25,007 | 16,290 | −35,913 | |
| Other receivables | −1,200 | −1,200 | — | — | — | |
| Accounts payable and accrued expenses | 2 | 240,229 | 97,020 | 281,904 | 172,204 | |
| Income taxes payable | — | −174,000 | 174,000 | — | — | |
| Deferred revenue | −136 | −195 | −1,871 | 1,910 | −34 | |
| Accrued interest payable | 8,314 | −5,773 | −113,847 | 124,314 | 85,248 | |
| Net cash used in operating activities | −5 | −5 | −5 | −3 | −3 | |
| Note receivable | — | −20,000 | — | — | — | |
| Net cash used in investing activities | — | −20,000 | 200,000 | −319,166 | 242,025 | |
| Payment to secured lender | — | −350,000 | −1 | — | — | |
| Proceeds from exercise of warrants | 3 | 4,968 | — | — | — | |
| Proceeds from short-term notes | 256,500 | — | — | — | — | |
| Proceeds from sale of common stock | 2 | 6 | 6 | 625,799 | 1 | |
| Net cash provided by financing activities | 5 | 5 | 5 | 1 | 5 | |
| Net increase (decrease) in cash | −573,754 | 293,741 | 95,516 | −2 | 2 | |
| Cash paid for taxes | — | — | — | — | — | |
| Cash paid for interest | 32,852 | 50,265 | 207,690 | — | — | |
| Common stock issued to pay related party payable | — | 90,204 | 113,714 | 4 | — | |
| Common stock issued to purchase 10% interest in Caesar Media Group Inc. | — | 366,377 | 732,751 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Netcapital Inc.'s CIK number?
Netcapital Inc.'s SEC CIK number is 0001414767 (1414767). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Netcapital Inc.'s SEC filings?
All of Netcapital Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Netcapital Inc. last report earnings?
Netcapital Inc. (NCPL) most recently filed an earnings 8-K with the SEC on Dec 15, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-25-027798). This is Netcapital Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Netcapital Inc.'s most recent earnings 8-K?
Netcapital Inc.'s latest earnings 8-K (Item 2.02) was filed Dec 15, 2025 under accession 0001493152-25-027798. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Netcapital Inc.'s latest earnings 8-K →
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