Star Equity Holdings, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $172.2M | $140.1M | $161.3M | $200.9M | $169.2M |
| Cost of revenue | $92.3M | $69.9M | — | — | — |
| Gross profit | $79.9M | $70.2M | — | — | — |
| Operating expenses | $83.6M | $74.0M | $160.0M | $191.6M | $164.8M |
| Operating income | -$3.7M | -$3.8M | $1.4M | $9.3M | $4.4M |
| Pretax income | -$3.9M | -$3.5M | $2.6M | $9.5M | $4.3M |
| Income tax expense | $2.1M | $1.3M | $370,000 | $2.3M | $1.1M |
| Net income | -$5.9M | -$4.8M | $2.2M | $7.1M | $3.2M |
| Balance Sheet | |||||
| Cash and equivalents | $10.3M | $17.0M | $22.6M | $27.1M | $21.7M |
| Current assets | $62.5M | $40.1M | $45.8M | $55.5M | $49.2M |
| Total assets | $113.2M | $52.6M | $61.0M | $67.9M | $61.2M |
| Current liabilities | $29.8M | $11.2M | $11.2M | $21.1M | $19.7M |
| Total liabilities | $47.5M | $12.2M | $12.4M | $22.1M | $21.9M |
| Total debt | $14.5M | — | — | — | — |
| Stockholders' equity | $65.7M | $40.4M | $48.6M | $45.8M | $39.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$7.3M | -$2.8M | $315,000 | $9.4M | $2.5M |
| Depreciation and amortization | $2.1M | $1.4M | $1.5M | $1.4M | $597,000 |
| Stock-based compensation | $1.5M | $1.3M | $1.5M | $2.3M | $2.4M |
| Capital expenditure | $1.7M | $18,000 | $99,000 | $504,000 | $284,000 |
| Free cash flow | -$9.0M | -$2.8M | $216,000 | $8.9M | $2.2M |
| Share repurchases | $2.6M | $2.8M | $959,000 | $1.1M | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 3.7M · Free float 25.1%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.