MeritValue

XERIANT, INC.

XERIdata completeness 75%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

XERIANT, INC. earns about -293% on equity, but has diluted owners by 175% over 5 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue—————
Net income−$2.7M1−$13.3M2−$7.1M3−$3.1M4−$1.65M4
Operating cash flow−$1.01M5−$6.93M6−$1.17M7−$1.43M8−$1.29M8
Capital expenditure$09$19,99010$2,56711$012$1,76212
Free cash flow (derived)−$1.01M5−$6.95M6−$1.18M7−$1.43M8−$1.29M8
Total debt—————
Cash & equivalents$962,54013$1.07M14$61,62515$653,11715$44,85015
Diluted shares225.5M345.2M389.4M443.3M620.9M

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
shares
Net assets behind them
−$0.09
your share of equity
Profit it earned you last year
−$0.03
Free cash flow it threw off
−$0.02
Debt you’d be carrying
—

10 shares is a claim on −$0.09 of net worth that earned you −$0.03 and generated −$0.02 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-293% avg · 5y
FY21 -293%FY22 —FY23 —FY24 —FY25 —

It earned an average -293% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+175% shares · 5y

Share count is up 175% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

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
  1. 10-K · period ending 2021-06-30 · accession 0001477932-22-007622 (NetIncomeLoss)
  2. 10-K · period ending 2022-06-30 · accession 0001477932-23-007646 (NetIncomeLoss)
  3. 10-K · period ending 2023-06-30 · accession 0001477932-24-006252 (NetIncomeLoss)
  4. 10-K · period ending 2024-06-30 · accession 0001477932-25-007303 (NetIncomeLoss)
  5. 10-K · period ending 2021-06-30 · accession 0001477932-22-007622 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2022-06-30 · accession 0001477932-23-007646 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-06-30 · accession 0001477932-24-006252 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-06-30 · accession 0001477932-25-007303 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-06-30 · accession 0001477932-22-007622 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2022-06-30 · accession 0001477932-23-007646 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-06-30 · accession 0001477932-24-006252 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-06-30 · accession 0001477932-25-007303 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K/A · period ending 2021-06-30 · accession 0001477932-21-007355 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-06-30 · accession 0001477932-24-006252 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  15. 10-K · period ending 2023-06-30 · accession 0001477932-25-007303 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)