VIP · XBRL financial data
Vulcan Infrastructure and Power financial statements, every fiscal year
The same tables from 5 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (VIP's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Revenue | 107,277 | 89,979 | 70,388 | — | — |
| Revenue from contracts with customers | — | — | 70,388 | 59,533 | 58,777 |
| Selling, general and administrative | 27,156 | 36,946 | 26,167 | 17,294 | 12,498 |
| Operating income (loss) | (37,133) | (233,163) | (16,892) | (11,449) | (3,795) |
| Interest expense | 3,700 | 21,600 | 12,700 | 7,100 | 4,033 |
| Income tax expense (benefit) | 408 | 15,002 | 0 | (69) | (479) |
| Net income (loss) | (44,480) | (271,068) | (29,510) | (19,785) | 5,286 |
| Earnings per share, basic‡ USD per share | (14.10) | (64.00) | (44.30) | (1.88) | 0.35 |
| Earnings per share, diluted‡ USD per share | (14.10) | (64.00) | (44.30) | (1.88) | 0.34 |
| Weighted average shares, basic‡ thousands of shares | 3 | 4,237 | 666 | 10,504 | 15,164 |
| Weighted average shares, diluted‡ thousands of shares | 3 | 4,237 | 666 | 10,504 | 15,335 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-10 stock split (May 2023); filings made before it reported them unadjusted.
- † Share count changed about 1/5 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 14x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Balance sheet
CSVFiscal years (VIP's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 82,599 | 15,217 | 13,312 | 8,619 | 19,572 |
| Short-term investments | 496 | 0 | — | — | — |
| Accounts receivable | 5,524 | 2,696 | 358 | 1,493 | 1,954 |
| Prepaid and other current assets | 7,484 | 6,266 | 3,864 | 2,617 | 1,542 |
| Total current assets | 100,602 | 33,058 | 24,432 | 26,803 | 34,805 |
| Property and equipment, net | 217,091 | 130,417 | 45,095 | 30,299 | 15,694 |
| Right-of-use asset | — | — | — | — | 0 |
| Goodwill | 3,062 | — | — | — | — |
| Total assets | 341,267 | 163,767 | 71,179 | 64,855 | 53,555 |
| Accounts payable | 5,923 | 9,608 | 3,495 | 3,850 | 1,950 |
| Accrued liabilities | 10,375 | 11,327 | 6,116 | 4,232 | 3,310 |
| Total current liabilities | 41,726 | 98,722 | 20,977 | 19,339 | 63,008 |
| Total liabilities | 128,844 | 210,814 | 122,203 | 120,609 | 99,859 |
| Accumulated deficit | (69,396) | (340,464) | (369,974) | (389,737) | (384,451) |
| Total stockholders' equity | 212,423 | (47,047) | (51,024) | (55,754) | (46,304) |
| Total liabilities and equity | 341,267 | 163,767 | 71,179 | 64,855 | 53,555 |
| Common shares outstanding (cover page)‡ thousands of shares | 4,087 | 4,625 | 913 | 13,026 | 15,802 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-10 stock split (May 2023); filings made before it reported them unadjusted.
- † Share count changed about 1/5 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 14x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Cash flows
CSVFiscal years (VIP's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Net income (loss) | (44,480) | (271,068) | (29,510) | (19,785) | 5,286 |
| Stock-based compensation | 3,770 | 2,636 | 2,344 | 2,182 | 760 |
| Net cash from operating activities | 40,079 | — | — | (12,044) | (14,994) |
| Net cash from investing activities | (136,458) | — | — | (3,888) | 36,553 |
| Proceeds from issuing common stock | 47,443 | 9,531 | 20,581 | 5,239 | 0 |
| Net cash from financing activities | 173,925 | 62,137 | 13,772 | 11,239 | (10,606) |
| Net change in cash | 77,547 | (67,382) | (1,905) | (4,693) | — |
- † Share count changed about 1/5 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 14x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Compare with peers
SIC 6199 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6199 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($K) | Revenue, quarter ($K) | Operating cash flow, quarter ($K) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Vulcan Infrastructure & Power | 3,197 | 3,385 | (4,341)* | 18.0M | 0.7 quarters | 10-QJun 30, 2026 |
| LM Funding America | 854 | 2,117 | (3,934)* | 1.8M | 0.2 quarters | 10-QJun 30, 2026 |
| USBC | 2,982 | not reported | (8,168)* | 388.1M | 0.4 quarters | 10-QJun 30, 2026 |
| FG Nexus | 24,923 | 242 | (4,543)* | 5.1M | 5.5 quarters | 10-QJun 30, 2026 |
| DarkHorse Technologies | 2,846 | 2,452 | (5,305)* | 8.7M | 0.5 quarters | 10-QJun 30, 2026 |
| Marblegate Capital | 7,312 | 16,681 | (5,202)* | 73.9M | 1.4 quarters | 10-QJun 30, 2026 |
| ZeroStack | 2,640 | 13,658 | 1,373* | 17.5M | — | 10-QJun 30, 2026 |
| TAO Synergies | 2,368 | 89 | (875)* | 7.5M | 2.7 quarters | 10-QJun 30, 2026 |
| Applied Dna Sciences | 3,761 | not reported | not reported | 6.2M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.