Rank One Computing (ROC) Q4 2025 earnings summary

Executive summary

• Revenue grew 24% year-over-year to $17.0M, driven by product sales, especially ROC Watch, offset by a decline in government R&D services revenue.

• Gross profit increased 10% to $13.1M, with gross margin at 77%.

• Operating expenses rose 14% to $15.1M, reflecting investments in R&D and business development.

• Net loss widened to $2.7M from $0.7M in the prior year, primarily due to higher expenses and income tax provision.

• IPO in early 2026 raised $21.5M, alleviating prior going concern issues and improving liquidity.

Financial highlights

• Revenue: $17.0M (2025) vs. $13.7M (2024), up 24%.

• Gross profit: $13.1M (2025) vs. $12.0M (2024), up 10%.

• Gross margin: 77% (2025) vs. 87% (2024).

• Operating expenses: $15.1M (2025) vs. $13.2M (2024), up 14%.

• Net loss: $2.7M (2025) vs. $0.7M (2024).

• Cash at year-end: $0.3M (2025), improved to $21.5M post-IPO.

• Working capital deficit: $1.5M at year-end 2025.

Outlook and guidance

• Management expects available cash and IPO proceeds to fund operations for at least 12 months.

• Future capital needs depend on revenue growth, product development, and market conditions.

• Strategic focus on expanding platform capabilities, modularity, and integration to address evolving identity and security markets.