Executive Summary
NAPC Defense Inc (BLIS) reported a QQ4 2024 results snapshot that shows a company far from revenue visibility, recording a net loss of $204,272 and an operating loss of $120,994, with revenue not disclosed in the quarter. Despite the negative bottom line, the company generated modest operating cash flow of $39,410 driven largely by working capital movements and several non-cash adjustments (stock-based compensation $98,538; deferred tax benefit $70,578; depreciation and amortization $4,305). The balance sheet depicts a small asset base of about $1.76 million against liabilities of roughly $1.05 million, leaving equity of about $0.71 million and a net debt position of $0.68 million. Liquidity indicators are incomplete due to missing current asset data, which complicates assessment of near-term financial flexibility. The results underscore the high-risk, low-visibility profile of BLIS in a niche salvage/defense segment, where a meaningful upside hinges on monetizing recovered assets, securing new contracts, or licensing opportunities that translate into recognizable revenue.
Key Performance Indicators
QoQ: -61.62% | YoY:33.42%
QoQ: -132.80% | YoY:64.65%
QoQ: -128.57% | YoY:78.23%
Key Insights
Revenue: Not disclosed for QQ4 2024
Gross Profit: Not disclosed (no reported revenue)
Operating Income: -$120,994; YoY growth 33.42%; QoQ decline -61.62%
Net Income: -$204,272; YoY growth 64.65%; QoQ decline -132.80%
EPS: -0.0032; YoY growth 78.23%; QoQ decline -128.57%
EBITDA: -$116,689
Cash Flow: Operating cash flow $39,410; Free cash flow $39,410; Change in working capital $140,839; Depreciation & amortization $4,305; Stock-based compensation $98,538; Interest expense $83,278; Defer...
Financial Highlights
Revenue: Not disclosed for QQ4 2024
Gross Profit: Not disclosed (no reported revenue)
Operating Income: -$120,994; YoY growth 33.42%; QoQ decline -61.62%
Net Income: -$204,272; YoY growth 64.65%; QoQ decline -132.80%
EPS: -0.0032; YoY growth 78.23%; QoQ decline -128.57%
EBITDA: -$116,689
Cash Flow: Operating cash flow $39,410; Free cash flow $39,410; Change in working capital $140,839; Depreciation & amortization $4,305; Stock-based compensation $98,538; Interest expense $83,278; Deferred income tax $70,578; Debt repayment $-39,410
Balance Sheet: Total assets $1,759,732; Total liabilities $1,045,060; Total stockholders’ equity $714,672; Net debt $681,247; Debt ratio 0.39; Debt to equity 0.95; Retained earnings negative $4,987,569; Accumulated OCI -$54,599; Property, Plant & Equipment net $143,732; Other non-current assets $1,616,000
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Operating Income |
-120.99K |
33.42% |
-61.62% |
| Net Income |
-204.27K |
64.65% |
-132.80% |
| EPS |
0.00 |
78.23% |
-128.57% |
Key Financial Ratios
operatingCashFlowPerShare
$0
Management Commentary
No earnings call transcript was provided in the data set. As a result, there are no management quotes or theme highlights to summarize. In a typical QQ4 cadence, investors would expect discussions around revenue generation, project wins in salvage or defense arms, and any monetization strategy for recovered artifacts; absence of transcript content limits the ability to corroborate financial results with management commentary.
No transcript available.
— N/A
No transcript available.
— N/A
Forward Guidance
No formal forward guidance was disclosed in the QQ4 2024 materials. The near-term outlook for BLIS rests on: (1) securing revenue-generating contracts or licensing arrangements related to salvage operations or defense-related activities; (2) monetization of recovered assets or intellectual property related to maritime recovery; (3) capital-structure actions that could improve liquidity without excessive dilution. Given the absence of revenue and ongoing losses, achievability hinges on tangible contract wins or monetization milestones. Investors should monitor quarterly updates for any signaling events such as new project wins, license agreements, or revenue recognition from salvage operations.