Rand Capital Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	0.59	0.53	0.32	0.16	0.16	0.13
Other Revenue	6.74	8.03	7.02	5.61	3.92	2.98
Revenue	7.33	8.56	7.34	5.77	4.08	3.1
Revenue Growth (YoY)	-12.27%	16.64%	27.28%	41.43%	31.37%	13.88%
Gross Profit	7.33	8.56	7.34	5.77	4.08	3.1
Selling, General & Admin	-0.04	3.75	3.13	1.05	6.07	1.58
Operating Expenses	-0	3.75	3.13	1.05	6.05	1.56
Operating Income	7.33	4.81	4.2	4.72	-1.98	1.54
Interest Expense	-0.15	-1.09	-1.04	-0.07	-0.62	-0.42
EBT Excluding Unusual Items	7.18	3.72	3.16	4.65	-2.59	1.13
Gain (Loss) on Sale of Investments	-18.98	5.4	3.56	-5.31	18.4	-1.01
Pretax Income	-11.8	9.12	6.72	-0.67	15.81	0.12
Income Tax Expense	0.28	0.3	0.19	0.22	0.01	-0.63
Net Income	-12.07	8.83	6.53	-0.88	15.8	0.74
Net Income to Common	-12.07	8.83	6.53	-0.88	15.8	0.74
Net Income Growth	-	35.25%	-	-	2023.98%	-
Shares Outstanding (Basic)	3	3	3	3	3	2
Shares Outstanding (Diluted)	3	3	3	3	3	2
Shares Change (YoY)	10.34%	-	-	-0.03%	13.81%	171.05%
EPS (Basic)	-4.24	3.42	2.53	-0.34	6.12	0.33
EPS (Diluted)	-4.24	3.42	2.53	-0.34	6.12	0.33
EPS Growth	-	35.25%	-	-	1766.19%	-
Free Cash Flow	14.79	15.33	-8.34	0.25	-3.94	-0.62
Free Cash Flow Per Share	5.19	5.94	-3.23	0.10	-1.53	-0.27
Dividend Per Share	1.710	1.670	0.950	0.650	0.400	1.330
Dividend Growth	58.33%	75.79%	46.15%	62.50%	-69.92%	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	100.03%	56.22%	57.30%	81.80%	-48.49%	49.78%
Profit Margin	-164.75%	103.14%	88.94%	-15.30%	387.54%	23.97%
Free Cash Flow Margin	201.86%	179.12%	-113.66%	4.38%	-96.67%	-19.88%
EBITDA	-	-	-	-	-1.94	1.58
EBITDA Margin	-	-	-	-	-47.57%	51.00%
D&A For EBITDA	-	-	-	-	0.04	0.04
EBIT	7.33	4.81	4.2	4.72	-1.98	1.54
EBIT Margin	100.03%	56.22%	57.30%	81.80%	-48.49%	49.78%
Effective Tax Rate	-	3.25%	2.86%	-	0.07%	-
Revenue as Reported	7.33	8.56	7.34	5.77	4.08	3.1

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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