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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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How management deployed cash over 4 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 4 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$3.5M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $12.9M 100.0% | $11.5M 100.0% | $9.4M 100.0% | $3.6M 100.0% |
| Cost of Revenue | $9.6M 73.8% | $8.3M 72.2% | $6.2M 66.0% | $1.9M 54.0% |
| Gross Profit | $3.4M 26.2% | $3.2M 27.8% | $3.2M 34.0% | $1.7M 46.0% |
| Research & Development | $302K 2.3% | $29K 0.3% | $122K 1.3% | $61K 1.7% |
| Selling, General & Admin | $2.8M 21.4% | $662K 5.7% | $851K 9.0% | $1.1M 29.6% |
| Total Operating Expenses | $3.5M 27.2% | $741K 6.4% | $1.0M 11.0% | $1.2M 32.1% |
| Operating Income | -$139K -1.1% | $2.5M 21.4% | $2.2M 23.0% | $499K 13.9% |
| Interest Expense | $0 0.0% | $0 0.0% | $6K 0.1% | $87K 2.4% |
| Interest & Investment Income | $15K 0.1% | $12K 0.1% | $5K 0.1% | $1K 0.0% |
| Other Income (Expense), net | $19K 0.1% | $13K 0.1% | $5K 0.0% | -$67K -1.9% |
| Pretax Income | -$119K -0.9% | $2.5M 21.5% | $2.2M 23.0% | $431K 12.0% |
| Income Tax Expense | $203K 1.6% | $381K 3.3% | $317K 3.4% | $59K 1.6% |
| Net Income | -$322K -2.5% | $2.1M 18.2% | $1.9M 19.7% | $372K 10.4% |
| Per Share | ||||
| EPS (Basic) | -$0.02 | $0.14 | $0.12 | $0.02 |
| EPS (Diluted) | -$0.02 | $0.14 | $0.12 | $0.02 |
| Weighted Avg Shares (Basic) | 16.3M | 15.0M | 15.0M | 15.0M |
| Weighted Avg Shares (Diluted) | 16.3M | 15.0M | 15.0M | 15.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-21
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -4% against ROIC -4% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Cost of Revenue | 54.0 | 66.0 | 72.2 | 73.8 |
| Gross Profit | 46.0 | 34.0 | 27.8 | 26.2 |
| R&D | 1.7 | 1.3 | 0.3 | 2.3 |
| SG&A | 29.6 | 9.0 | 5.7 | 21.4 |
| Operating Income | 13.9 | 23.0 | 21.4 | -1.1 |
| Income Tax | 1.6 | 3.4 | 3.3 | 1.6 |
| Net Income | 10.4 | 19.7 | 18.2 | -2.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DXST: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2023). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $1.18 today, the market must believe free cash flow compounds -34.0%/yr for a decade (off $1.4M on the 3-yr avg basis).
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.00B shares (market data) · net debt -$573K
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean -53.2% · volatility σ 110% · implied rate exceeded in 1/2 yrs
Central path = implied -34.0%/yr growth; shaded band = ±1σ (110%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.