RedCloud Holdings plc

RCTdata completeness 100%3 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2023	FY 2024	FY 2025
Revenue	$19.8M¹	$46.5M²	$48.5M²
Net income	−$32.4M³	−$50.7M⁴	−$46.2M⁴
Operating cash flow	−$22M⁵	−$34.7M⁶	−$37M⁶
Capital expenditure	$101,178⁷	$629,958⁸	$147,196⁸
Free cash flow (derived)	−$22.1M⁵	−$35.3M⁶	−$37.1M⁶
Total debt	$544,731⁹	$558,206¹⁰	$3.77M¹⁰
Cash & equivalents	$554,724¹¹	$800,735¹²	$478,983¹²
Diluted shares	19.2M	24.3M	45.0M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

Net assets behind them

−$1.55

your share of equity

Profit it earned you last year

−$10.27

Free cash flow it threw off

−$8.25

Debt you’d be carrying

$0.84

10 shares is a claim on −$1.55 of net worth that earned you −$10.27 and generated −$8.25 of cash last year, against $0.84 of debt.

iii. Is this a good business?

Moat signal · return on equity

— avg · 3y

Not enough data in the filings for a return-on-capital reading.

Management signal · capital allocation

+135% shares · 3y

Share count is up 135% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 591% over the same window.

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0

DCF · Growth Exit 10Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

Earnings Power Value

not applicable

normalized (5y-median) earnings non-positive — EPV undefined

Graham Number

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts