Cash flow Maritime Launch Services Inc.

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MAXQ

CA57033N1006

Government Administration Activities

End-of-day quote NEO Exchange Other stock markets 15/07/2026			5-day change	1st Jan Change
0.4750 ^CAD	+1.06%		-1.04%	+69.64%

07-07	Isar Aerospace GmbH And Maritime Launch Services Ltd. Sign Contract To Advance Orbital Launch Capability From Spaceport Nova Scotia	CI
07-07	NATO touts $50 billion in arms deals as leaders meet in Ankara	RE

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Published financial data: MARITIME LAUNCH SERVICES INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	-	-	-	-	14.98K
Total Revenues	-	-	-	-	14.98K
Gross Profit	-	-	-	-	14.98K
Selling General & Admin Expenses, Total	2.03M	4.27M	3.89M	2.85M	3.06M
Stock-Based Compensation (IS)	115K	1.41M	665K	518K	744K
R&D Expenses	72.31K	-	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	11.25K	34.32K	37.55K	35.51K	35.55K
Other Operating Expenses, Total	2.23M	5.71M	4.59M	3.4M	3.84M
Operating Income	-2.23M	-5.71M	-4.59M	-3.4M	-3.82M
Interest Expense, Total	-508K	-382K	-57.64K	-111K	-286K
Net Interest Expenses	-508K	-382K	-57.64K	-111K	-286K
Currency Exchange Gains (Loss)	-5.51K	19.25K	-18.36K	19.41K	-12.15K
Other Non Operating Income (Expenses)	-1.57M	1.08M	-	-3.06M	-43.26M
EBT, Excl. Unusual Items	-4.32M	-5M	-4.67M	-6.56M	-47.38M
Other Unusual Items	-	-2.45M	-107K	341K	96.99K
EBT, Incl. Unusual Items	-4.32M	-7.45M	-4.77M	-6.22M	-47.28M
Income Tax Expense	-	-	-371K	-	-
Earnings From Continuing Operations	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Net Income to Company	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Net Income - (IS)	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Net Income to Common Incl Extra Items	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Net Income to Common Excl. Extra Items	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Per Share Items
Net EPS - Basic	-0.06	-0.02	-0.01	-0.01	-0.09
Basic EPS - Continuing Operations	-0.06	-0.02	-0.01	-0.01	-0.09
Basic Weighted Average Shares Outstanding	71.47M	390M	408M	417M	509M
Net EPS - Diluted	-0.06	-0.02	-0.01	-0.01	-0.09
Diluted EPS - Continuing Operations	-0.06	-0.02	-0.01	-0.01	-0.09
Diluted Weighted Average Shares Outstanding	71.47M	390M	408M	417M	509M
Normalized Basic EPS	-0.04	-0.01	-0.01	-0.01	-0.06
Normalized Diluted EPS	-0.04	-0.01	-0.01	-0.01	-0.06
Supplemental Items
EBITDA	-2.23M	-5.71M	-4.58M	-3.4M	-3.82M
EBITA	-2.23M	-5.71M	-4.59M	-3.4M	-3.82M
EBIT	-2.23M	-5.71M	-4.59M	-3.4M	-3.82M
Effective Tax Rate - (Ratio)	-	-	7.78	-	-
Total Deferred Taxes	-	-	-371K	-	-
Normalized Net Income	-2.7M	-3.13M	-2.92M	-4.1M	-29.61M
Interest Capitalized	148K	978K	1.86M	909K	11.42K
Interest on Long-Term Debt	655K	1.36M	1.92M	1.02M	297K
Supplemental Operating Expense Items
General and Administrative Expenses	1.59M	2.71M	2.41M	1.47M	1.6M
Research And Development Expense From Footnotes	72.31K	-	-	-	-
Stock-Based Comp., Other (Total)	485K	1.45M	665K	886K	744K
Total Stock-Based Compensation	485K	1.45M	665K	886K	744K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.89M	2.87M	1.37M	69.81K	9.44M
Short Term Investments	100K	100K	30K	5K	5K
Total Cash And Short Term Investments	3.99M	2.97M	1.4M	74.81K	9.45M
Accounts Receivable, Total	-	-	-	17.22K	50.03K
Other Receivables	267K	268K	85.46K	53.59K	319K
Total Receivables	267K	268K	85.46K	70.81K	369K
Prepaid Expenses	42.44K	123K	122K	56.68K	124K
Restricted Cash	3.94M	-	-	-	-
Total Current Assets	8.24M	3.36M	1.6M	202K	9.94M
Gross Property Plant And Equipment	3.27M	8.31M	12.83M	13.93M	15.04M
Accumulated Depreciation	-11.25K	-45.57K	-19.03K	-23.44K	-26.53K
Net Property Plant And Equipment	3.25M	8.27M	12.81M	13.9M	15.01M
Other Intangibles, Total	-	-	-	-	9K
Other Long-Term Assets, Total	375K	-	-	-	-
Total Assets	11.87M	11.63M	14.41M	14.11M	24.96M
Liabilities
Accounts Payable, Total	806K	1.08M	3.51M	4.48M	2.09M
Short-term Borrowings	8.98M	7.39M	9.3M	12.75M	4.32M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	13.15K	32.62K	32.67K	31.58K	31.22K
Other Current Liabilities	3.94M	-	-	-	-
Total Current Liabilities	13.74M	8.5M	12.84M	17.27M	6.45M
Long-Term Leases	92.59K	174K	142K	110K	72.36K
Unearned Revenue Non Current	-	-	-	-	208K
Other Non Current Liabilities	-	-	-	39.78K	74.61K
Total Liabilities	13.83M	8.68M	12.98M	17.42M	6.8M
Common Stock, Total	4.83M	13.27M	14.44M	15.52M	83.8M
Additional Paid In Capital	115K	3.73M	5.3M	2.4M	2.82M
Retained Earnings	-7.28M	-14.73M	-19.13M	-21.92M	-68.63M
Comprehensive Income and Other	377K	687K	815K	700K	165K
Total Common Equity	-1.96M	2.95M	1.43M	-3.31M	18.15M
Total Equity	-1.96M	2.95M	1.43M	-3.31M	18.15M
Total Liabilities And Equity	11.87M	11.63M	14.41M	14.11M	24.96M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	77.41M	403M	416M	468M	751M
ECS Total Common Shares Outstanding	77.41M	403M	410M	422M	751M
Book Value / Share	-0.03	0.01	0	-0.01	0.02
Tangible Book Value	-1.96M	2.95M	1.43M	-3.31M	18.15M
Tangible Book Value Per Share	-0.03	0.01	0	-0.01	0.02
Total Debt	9.08M	7.6M	9.47M	12.89M	4.43M
Net Debt	5.09M	4.63M	8.08M	12.82M	-5.02M
Account Code - Inventory Valuation	-	3	3	3	3
Land - (BS)	80.01K	80.01K	80.01K	80.01K	80.01K
Machinery, Total	29.39K	35.22K	36.3K	36.3K	36.3K
Full Time Employees	-	-	6	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-4.32M	-7.45M	-4.4M	-6.22M	-47.28M
Depreciation & Amortization - CF	11.25K	34.32K	37.55K	35.51K	34.55K
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	1K
Depreciation & Amortization, Total	11.25K	34.32K	37.55K	35.51K	35.55K
Stock-Based Compensation (CF)	485K	1.45M	665K	886K	744K
Other Operating Activities, Total	2.09M	1.84M	155K	2.32M	43.64M
Change In Accounts Receivable	1.56K	-	-	14.65K	-299K
Change In Accounts Payable	39.44K	-146K	957K	1.3M	-905K
Change in Unearned Revenues	-	-	-	-	208K
Change in Other Net Operating Assets	-295K	-81.44K	184K	65.41K	-67.45K
Cash from Operations	-1.98M	-4.35M	-2.4M	-1.6M	-3.92M
Capital Expenditure	-2.65M	-3.22M	-991K	-38.57K	-2.54M
Cash Acquisitions	-	67.95K	-	-	-
Sale (Purchase) of Real Estate properties	-109K	-5.84K	-	-	-
Investment in Marketable and Equity Securities, Total	-100K	-	70K	25K	-
Other Investing Activities, Total	-3.94M	3.94M	-	-	-
Cash from Investing	-6.8M	784K	-921K	-13.57K	-2.54M
Short Term Debt Issued, Total	11.44M	-	2.04M	231K	101K
Long-Term Debt Issued, Total	-	-	-	-	4.14M
Total Debt Issued	11.44M	-	2.04M	231K	4.24M
Short Term Debt Repaid, Total	-313K	-	-	-100K	-500K
Long-Term Debt Repaid, Total	-623K	-60.34K	-56.74K	-59.3K	-38.15K
Total Debt Repaid	-936K	-60.34K	-56.74K	-159K	-538K
Issuance of Common Stock	3M	3.09M	-	182K	12.09M
Other Financing Activities, Total	-836K	-483K	-166K	65.92K	40.08K
Cash from Financing	12.67M	2.54M	1.82M	319K	15.83M
Net Change in Cash	3.89M	-1.02M	-1.5M	-1.3M	9.37M
Supplemental Items
Levered Free Cash Flow	-4.15M	-5.35M	-583K	-257K	-7.09M
Unlevered Free Cash Flow	-3.83M	-5.11M	-547K	-188K	-6.91M
Change In Net Working Capital	287K	-193K	-2.61M	-1.06M	2.76M
Net Debt Issued / Repaid	10.51M	-60.34K	1.99M	71.22K	3.7M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-23.45	-30.39	-22.03	-14.92	-12.24
Return on Total Capital	-43.98	-40.42	-26.74	-20.77	-14.86
Return On Equity %	209.6	-1.5K	-200.82	661.99	-637.02
Return on Common Equity	209.6	-1.5K	-200.82	661.99	-637.02
Margin Analysis
Gross Profit Margin %	-	-	-	-	100
SG&A Margin	-	-	-	-	20.43K
EBITDA Margin %	-	-	-	-	-25.5K
EBITA Margin %	-	-	-	-	-25.52K
EBIT Margin %	-	-	-	-	-25.53K
Income From Continuing Operations Margin %	-	-	-	-	-316K
Net Income Margin %	-	-	-	-	-316K
Net Avail. For Common Margin %	-	-	-	-	-316K
Normalized Net Income Margin	-	-	-	-	-198K
Levered Free Cash Flow Margin	-	-	-	-	-47.3K
Unlevered Free Cash Flow Margin	-	-	-	-	-46.11K
Asset Turnover
Asset Turnover	-	-	-	-	0
Fixed Assets Turnover	-	-	-	-	0
Receivables Turnover (Average Receivables)	-	-	-	-	0.45
Short Term Liquidity
Current Ratio	0.6	0.4	0.12	0.01	1.54
Quick Ratio	0.31	0.38	0.12	0.01	1.52
Operating Cash Flow to Current Liabilities	-0.14	-0.51	-0.19	-0.09	-0.61
Days Sales Outstanding (Average Receivables)	-	-	-	-	819.28
Long Term Solvency
Total Debt/Equity	-463.6	257.45	661.92	-389.54	24.39
Total Debt / Total Capital	127.5	72.02	86.88	134.54	19.61
LT Debt/Equity	-4.73	5.9	9.9	-3.33	0.4
Long-Term Debt / Total Capital	1.3	1.65	1.3	1.15	0.32
Total Liabilities / Total Assets	116.5	74.62	90.07	123.46	27.26
EBIT / Interest Expense	-4.39	-14.94	-79.62	-30.65	-13.38
EBITDA / Interest Expense	-4.37	-14.85	-78.97	-30.33	-13.26
(EBITDA - Capex) / Interest Expense	-9.58	-23.28	-96.17	-30.68	-22.14
Total Debt / EBITDA	-4.09	-1.34	-2.08	-3.83	-1.17
Net Debt / EBITDA	-2.29	-0.81	-1.77	-3.8	1.32
Total Debt / (EBITDA - Capex)	-1.87	-0.85	-1.71	-3.78	-0.7
Net Debt / (EBITDA - Capex)	-1.05	-0.52	-1.46	-3.76	0.79
Growth Over Prior Year
EBITDA, 1 Yr. Growth %	-	156.3	-19.68	-25.8	12.35
EBITA, 1 Yr. Growth %	380.65	156.2	-19.68	-25.81	12.29
EBIT, 1 Yr. Growth %	380.65	156.2	-19.68	-25.81	12.32
Earnings From Cont. Operations, 1 Yr. Growth %	665.78	72.57	-40.93	41.26	660.61
Net Income, 1 Yr. Growth %	665.78	72.57	-40.93	41.26	660.61
Normalized Net Income, 1 Yr. Growth %	665.78	15.86	-6.73	40.56	622.54
Diluted EPS Before Extra, 1 Yr. Growth %	459.39	-68.37	-43.57	38.08	523.63
Accounts Receivable, 1 Yr. Growth %	-	-	-	-	190.59
Net Property, Plant and Equip., 1 Yr. Growth %	-	154.08	54.91	8.56	7.96
Total Assets, 1 Yr. Growth %	70.1K	-2.03	23.92	-2.12	76.93
Tangible Book Value, 1 Yr. Growth %	-9.36	-250.68	-51.5	-331.21	-648.3
Common Equity, 1 Yr. Growth %	-9.36	-250.68	-51.5	-331.21	-648.57
Cash From Operations, 1 Yr. Growth %	31.05K	119.07	-44.72	-33.26	144.79
Capital Expenditures, 1 Yr. Growth %	-	21.71	-69.29	-96.11	6.48K
Levered Free Cash Flow, 1 Yr. Growth %	-1.25K	28.93	-89.11	-55.87	2.65K
Unlevered Free Cash Flow, 1 Yr. Growth %	-975.24	33.37	-89.31	-65.65	3.58K
Compound Annual Growth Rate Over Two Years
EBITDA, 2 Yr. CAGR %	-	-	43.48	-22.8	-8.7
EBITA, 2 Yr. CAGR %	86.15	250.91	43.45	-22.81	-8.73
EBIT, 2 Yr. CAGR %	86.15	250.91	43.45	-22.81	-8.71
Earnings From Cont. Operations, 2 Yr. CAGR %	151.95	263.53	0.96	-8.66	227.79
Net Income, 2 Yr. CAGR %	151.95	263.53	0.96	-8.66	227.79
Normalized Net Income, 2 Yr. CAGR %	143	197.86	3.95	14.5	218.68
Diluted EPS Before Extra, 2 Yr. CAGR %	111.14	33.03	-57.75	-11.73	193.45
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	98.39	29.68	8.26
Total Assets, 2 Yr. CAGR %	2.18K	2.52K	10.18	10.13	31.6
Tangible Book Value, 2 Yr. CAGR %	0.3	16.87	-14.52	5.89	256.05
Common Equity, 2 Yr. CAGR %	0.3	16.87	-14.52	5.89	256.14
Cash From Operations, 2 Yr. CAGR %	131.5	2.51K	10.05	-39.26	27.82
Capital Expenditures, 2 Yr. CAGR %	-	-	-38.8	-89.07	60.08
Levered Free Cash Flow, 2 Yr. CAGR %	-	285.64	-62.51	-78.08	248.59
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	241.66	-62.22	-80.83	255.31
Compound Annual Growth Rate Over Three Years
EBITDA, 3 Yr. CAGR %	-	-	-	15.17	-12.52
EBITA, 3 Yr. CAGR %	-	107.06	114.65	15.15	-12.53
EBIT, 3 Yr. CAGR %	-	107.06	114.65	15.15	-12.53
Earnings From Cont. Operations, 3 Yr. CAGR %	-	122.09	98.37	12.92	85.14
Net Income, 3 Yr. CAGR %	-	122.09	98.37	12.92	85.14
Normalized Net Income, 3 Yr. CAGR %	-	89.84	102.27	14.95	111.59
Diluted EPS Before Extra, 3 Yr. CAGR %	-	12.14	-0.05	-37.3	69.38
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	62.27	21.99
Total Assets, 3 Yr. CAGR %	-	699.47	848.1	5.92	28.98
Tangible Book Value, 3 Yr. CAGR %	-	14.87	-12.83	19.1	83.2
Common Equity, 3 Yr. CAGR %	-	14.87	-12.83	19.1	83.23
Cash From Operations, 3 Yr. CAGR %	-	127.28	622.54	-6.85	-3.34
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-75.57	-7.67
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	17.47	-60.41	9.78
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	7.71	-63.4	10.52
Compound Annual Growth Rate Over Five Years
EBITA, 5 Yr. CAGR %	-	-	-	39.54	52.47
EBIT, 5 Yr. CAGR %	-	-	-	39.54	52.48
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	55.66	142.5
Net Income, 5 Yr. CAGR %	-	-	-	55.66	142.5
Normalized Net Income, 5 Yr. CAGR %	-	-	-	55.08	142.6
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	1.9	53.78
Total Assets, 5 Yr. CAGR %	-	-	-	261.78	330.34
Tangible Book Value, 5 Yr. CAGR %	-	-	-	11.19	53.05
Common Equity, 5 Yr. CAGR %	-	-	-	11.19	53.06
Cash From Operations, 5 Yr. CAGR %	-	-	-	34.07	261.37
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	81.51
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	73.62