| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Net income | $826,0451 | $179,6192 | $617,2983 | −$731,3713 |
| Operating cash flow | −$400,9654 | −$781,3765 | −$731,5696 | −$342,4836 |
| Capital expenditure | — | — | — | — |
| Free cash flow (derived) | — | — | — | — |
| Total debt | — | — | — | — |
| Cash & equivalents | $491,2937 | — | — | — |
| Diluted shares | — | — | — | — |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.
Not enough data in the filings for a return-on-capital reading.
seeing a moat in the numbers →Not enough history to read capital allocation.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
Different models answer different questions — which to trust when →
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MeritValue on the App Store →- 10-K filed 2024-03-04 · period ending 2022-11-30 · accession 0001493152-24-008715 (NetIncomeLoss)
- 10-K filed 2025-03-17 · period ending 2023-11-30 · accession 0001493152-25-010514 (NetIncomeLoss)
- 10-K filed 2026-03-09 · periods ending 2024-11-30, 2025-11-30 · accession 0001493152-26-009395 (NetIncomeLoss)
- 10-K filed 2024-03-04 · period ending 2022-11-30 · accession 0001493152-24-008715 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2025-03-17 · period ending 2023-11-30 · accession 0001493152-25-010514 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2026-03-09 · periods ending 2024-11-30, 2025-11-30 · accession 0001493152-26-009395 (NetCashProvidedByUsedInOperatingActivities)
- 10-K/A filed 2023-07-20 · period ending 2022-11-30 · accession 0001493152-23-025022 (CashAndCashEquivalentsAtCarryingValue)