SPARQ Systems Inc. designs and manufactures single-phase microinverters for solar applications. While the company has a strong liquidity position with a current ratio of 4.45 and low debt levels (0.07), it faces significant profitability challenges, evident in its negative EBITDA and net margins. The gross margin of 5.1% raises concerns about pricing power and operational efficiency. Overall, SPARQ's financial health indicates potential but requires improvement in profitability to attract investor confidence.
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Company posted a loss of $-4.4M over the last year, representing 127.8% of revenue.
Operating cash flow has been negative for 3 consecutive quarters, burning $2.4M over the last year.
Exceptional revenue growth of 90.3% YoY demonstrates strong market demand and competitive positioning.
Gross margin expanded by 6.8 percentage points, indicating improved pricing power or cost efficiency.
Operating margin expanded by 113.1pp, demonstrating strong operational leverage.
Both gross margin (+6.8pp) and operating margin (+113.1pp) are expanding simultaneously, indicating the company is scaling profitably.
Fortress balance sheet: cash covers total debt 12×, providing significant financial flexibility.
Valuation, risk assessment, competitive positioning, and key insights — all in one report.
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Based on 2026-Q2 (June 30, 2026)