Way 2 Vat Ltd (ASX:W2V)

Way 2 Vat Income Statement

Financials in millions AUD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	6.44	4.56	3.01	1.92	1.82
Revenue Growth (YoY)	41.33%	51.64%	56.55%	5.68%	35.55%
Cost of Revenue	1.29	0.82	0.63	0.44	0.38
Gross Profit	5.16	3.74	2.37	1.48	1.44
Selling, General & Admin	7.04	6.77	6.75	6.11	5.79
Research & Development	2.57	2.55	1.89	2.47	2.15
Operating Expenses	9.61	9.32	8.64	8.59	7.94
Operating Income	-4.45	-5.58	-6.26	-7.11	-6.5
Interest Expense	-1.53	-0.34	-0.34	-0.09	-0.12
Interest & Investment Income	-	-	-	0.03	0.01
Currency Exchange Gain (Loss)	-0.2	-0.14	-0.06	0.07	-0.31
Other Non Operating Income (Expenses)	-0.11	0.48	0.08	0.11	-1.85
EBT Excluding Unusual Items	-6.3	-5.58	-6.59	-6.99	-8.78
Other Unusual Items	0.02	0.1	0.35	0.28	-
Pretax Income	-6.28	-5.49	-6.24	-6.71	-8.78
Income Tax Expense	0.08	-	-	-	-
Net Income	-6.36	-5.49	-6.24	-6.71	-8.78
Net Income to Common	-6.36	-5.49	-6.24	-6.71	-8.78
Shares Outstanding (Basic)	151	84	47	17	7
Shares Outstanding (Diluted)	151	84	47	17	7
Shares Change (YoY)	80.65%	78.52%	174.21%	141.86%	88.62%
EPS (Basic)	-0.04	-0.07	-0.13	-0.39	-1.24
EPS (Diluted)	-0.04	-0.07	-0.13	-0.39	-1.24
Free Cash Flow	-5.95	-5.48	-5.59	-4.67	-5.61
Free Cash Flow Per Share	-0.04	-0.07	-0.12	-0.27	-0.79
Gross Margin	80.02%	82.01%	78.92%	77.01%	79.18%
Operating Margin	-69.12%	-122.47%	-208.39%	-370.19%	-357.99%
Profit Margin	-98.74%	-120.40%	-207.47%	-349.58%	-483.04%
Free Cash Flow Margin	-92.36%	-120.25%	-185.99%	-243.22%	-308.78%
EBITDA	-4.3	-5.43	-6.1	-7.02	-6.44
EBITDA Margin	-66.78%	-119.13%	-202.93%	-	-
D&A For EBITDA	0.15	0.15	0.16	0.09	0.06
EBIT	-4.45	-5.58	-6.26	-7.11	-6.5
EBIT Margin	-69.12%	-122.47%	-208.39%	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.