Income StatementBalance SheetCash FlowSegments
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Corvex Income Statement

Revenue, expenses, and profitability over time

Corvex generated $737.0K in trailing twelve-month revenue, up 0.9% year-over-year. Net income was -$18.1M with a -2,457.53% net margin. Diluted EPS is $-14.15, which grew 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$737.0KGross Profit (TTM)-$1.8MOperating Income (TTM)-$15.1MNet Income (TTM)-$18.1MEps Diluted (TTM)$-14.15
Latest FilingQ1 2026
Report Date2026-05-19
Market Cap$1.2B
ROE-6.25%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisition and integration costs—————$1.8M
Stock-Based Compensation Expense$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Advertising$100.0K$237.0K$38.0K$3.0K$22.0K$30.0K
Amortization of Finite-Lived Intangible Assets———$0.0—$41.0K
Total stock-based compensation$530.0K$299.0K$250.0K$93.0K—$65.4M
Share-Based Compensation Expense$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Amortization expense———$0.0—$41.0K
Operating Lease Cost$56.0K$56.0K$53.0K$55.0K$86.0K$175.0K
Stock-Based Compensation Expense (Pre-tax)$530.0K$299.0K$250.0K$93.0K—$65.4M
Compensation and benefits$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Total Lease Cost—$56.0K———$453.0K
Depreciation and amortization$38.0K$38.0K$56.0K$28.0K$37.0K$326.0K
General and administrative$2.2M$1.6M$1.6M$1.2M$2.7M$3.4M
Allocated Share-Based Compensation Expense$530.0K$299.0K$250.0K$93.0K—$65.4M
Finance Lease ROU Asset Amortization—————$131.0K
Total Lease Cost—$56.0K———$453.0K
Operating Lease Cost$56.0K$56.0K$53.0K$55.0K$86.0K$175.0K
Operating Lease ROU Asset Amortization—————$118.0K
Share-Based Compensation (Operating)$530.0K$299.0K$250.0K$93.0K—$65.4M
Total Lease Cost—$56.0K———$453.0K
Share-Based Compensation Expense Before Income Taxes$530.0K$299.0K$250.0K$93.0K—$65.4M
Lease Cost—$56.0K———$453.0K
Operating Lease Cost$56.0K$56.0K$53.0K$55.0K$86.0K$175.0K
Stock-based compensation expense$530.0K$299.0K$250.0K$93.0K$2.3M$65.4M
Variable Lease Cost—————$21.0K
Finance Lease ROU Asset Amortization—————$131.0K
Occupancy and equipment$56.0K$56.0K$53.0K$55.0K$86.0K$175.0K
Research and development$2.0M$2.4M$1.4M$1.2M$790.0K$822.0K
Selling and marketing—$763.0K———$304.0K
Share-Based Compensation$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Amortization of Right-of-Use Assets—————$131.0K
Variable Lease Expense—————$21.0K
Total operating expenses$4.8M$5.4M$3.4M$2.7M$4.5M$5.4M
Stock-Based Compensation (Before Tax)$530.0K$299.0K$250.0K$93.0K—$65.4M
Variable Lease Cost—————$21.0K
Lease Costs—$56.0K———$453.0K
Operating Lease Cost$56.0K$56.0K$53.0K$55.0K$86.0K$175.0K
Variable Lease Cost—————$21.0K
Variable Lease Cost—————$21.0K

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effective Tax Rate Statutory Reconciliation$0.1$0.1$0.1$0.1$0.1—
Unrecognized Tax Benefits Current Period Increases$105.3K—————
Unrecognized Tax Benefits Prior Period Decreases—$316.8K$316.8K$316.8K$316.8K—
Income Tax at U.S. Statutory Rate5.3%5.3%5.3%5.3%5.3%—
Tax Reconciliation: Other Adjustments0.0%-0.3%-0.3%-0.3%-0.3%—
Tax Reconciliation: Change in Valuation Allowance-4.8%-3.8%-3.8%-3.8%-3.8%—
Tax Reconciliation, Federal Statutory Amount$0.1$0.1$0.1$0.1$0.1—
Tax Reconciliation, Other Items$0.0-$0.0-$0.0-$0.0-$0.0—
Tax Reconciliation, Tax Credits0.0%1.3%1.3%1.3%1.3%—
Effective Tax Rate$0.1$0.1$0.1$0.1$0.1—
Tax Reconciliation at Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1—
Tax Reconciliation - Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1—
Statutory Federal Income Tax Rate$0.1$0.1$0.1$0.1$0.1—
Tax Reconciliation Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1—
Tax Reconciliation Other Adjustments$0.0-$0.0-$0.0-$0.0-$0.0—

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Non-Cash Income (Expense)-$89.0K-$8.0K————
Cash Paid for Interest————$2.0K$1.0K
Other non-cash income (expense)-$89.0K-$8.0K————
Other Charges$76.0K$60.0K$35.0K$65.0K$23.0K$20.0K
Interest expense————$2.0K$1.0K
Change in Accounts Payable—$509.0K$266.0K$71.0K$455.0K-$1.4M
Other Non-Cash Income (Expense)-$89.0K-$8.0K————
Other income (expense), net$76.0K$60.0K$35.0K-$1.4M-$1.4M-$158.0K
Other Non-cash Income (Expense)-$89.0K-$8.0K————
Amortization of Debt Discount (Premium)————$1.4M$118.0K
Finance Lease Interest Expense—————$139.0K
Other Non-Cash Income (Expense)-$89.0K-$8.0K————
Interest expense on finance leases—————$139.0K
Interest expense on debt———$1.5M$1.5M$178.0K

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Acquisitions Pro Forma Net Income—-$17.1M———-$16.0M
Net income applicable to common shareholders-$5.9M-$5.2M———-$5.1M
Net earnings to common-$5.9M-$5.2M———-$5.1M
Common Stock Dividends—$9.3K$9.3K$9.3K$9.3K—
Net Income Available to Common Shareholders-$5.9M-$5.2M———-$5.1M
Net income-$4.6M-$5.2M-$3.2M-$4.0M-$5.9M-$5.0M
Preferred stock dividends—$9.3K$9.3K$9.3K$9.3K$96.0K
Net income attributable to common stock-$5.9M-$5.2M———-$5.1M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Acquisitions Pro Forma Revenue—$1.4M———$3.6M
Total revenue$111.0K$206.0K$103.0K$80.0K$44.0K$510.0K

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Expenditures$5.0K————$6.2M
Change in Accounts Receivable—————$162.0K
Change in Deferred Revenue—-$18.0K-$13.0K——$27.0K
Change in Other Current Assets$3.5K$4.0K$6.0K$3.0K$4.0K-$48.0K
Change in Other Liabilities-$1.1M$113.0K-$716.0K—-$194.0K$50.0K
Reclassifications Net of Tax-$5.9M-$5.2M———-$5.1M
Acquisitions, Net of Cash—————-$36.7M
Change in Inventories$13.0K$212.0K$221.0K$0.0$78.0K$42.0K
Change in Prepaid Expenses and Other Assets-$86.0K-$142.0K-$2.0K—-$51.0K$747.0K
Finance Lease Principal Paid—————$32.0K
Net Change in Cash and Restricted Cash—-$3.5M-$2.2M-$109.0K—$26.5M
Operating Lease Payments$73.0K$87.0K$58.0K$72.0K$45.0K$1.6M
Shares Issued for Share-Based Compensation—————$149.2K
Number of reportable segments—25.0%25.0%25.0%25.0%200.0%
Interest Paid, Net————$2.0K$1.0K
Accrued And Unpaid Interest—————$60.0K
Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1$58.0K$38.0K———$285.0K
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Equity issuance costs—————$4.9M
Advertising costs$100.0K$237.0K$38.0K$3.0K$22.0K$30.0K
Aggregate Gross Purchase Price Value—$250.0M$250.0M$250.0M$250.0M—
Pre-tax stock-based compensation cost$530.0K$299.0K$250.0K$93.0K—$65.4M
Amorization Of Lease—$4.0K———$127.0K
Amortization of capitalized software and acquired intangible assets———$0.0—$41.0K
Stock options excluded as their inclusion would be anti-dilutive (in shares)—$560.6K$4.1M—$771.0K$70.0M
Bearing Interest Interest Rate Per Annum———12.0%——
Beneficial Ownership Percentage—————5.0%
Broker Receivable Recorded In Prepaid And Other Current Assets For Payroll Withholding Taxes—————$97.0K
Business Acquired By Issuance Of Equity Instruments—————$581.9M
Business Acquisitions Pro Forma Net Income Loss—-$17.1M———-$16.0M
Business Acquisitions Pro Forma Revenue—$1.4M———$3.6M
Business Combination Consideration Transferred1—————$581.9M
Combined Revenue—————$1.6M
Common Stock Convertible Conversion Price Increase—$136364.00$136364.00$136364.00$136364.00—
Common Stock Dividends Shares—1.7K1.7K1.7K1.7K—
Common Stock Outstanding Percentage—5.0%5.0%5.0%5.0%—
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities—————$719.0K
Costs Related To Reverse Merger—$750.0K$750.0K$750.0K$750.0K—
Costs Related To Reverse Merger Recorded In Accounts Payable—$37.5K$37.5K$37.5K$37.5K—
Dividends, Common Stock—$9.3K$9.3K$9.3K$9.3K—
Income taxes at U.S. statutory rate of 21%$0.1$0.1$0.1$0.1$0.1—
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent-$0.0-$0.0-$0.0-$0.0-$0.0—
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent12.5%12.5%12.5%12.5%12.5%—
Excess tax benefits associated with employee equity plans (in percent)-0.5%0.0%0.0%0.0%0.0%—
Effective Income Tax Rate Reconciliation Tax Contingencies Other12.5%12.5%12.5%12.5%12.5%—
Fair Value Of Assumed Corvex Op Co Equity Awards Attributable To Precombination Services—————$4.9M
Fair Value Of Payment Share—————$10.71
Fair Value Of Payment Shares—————$577.0M
Finance Lease Principal Payments—————$32.0K
Acquired intangibles—————$41.0K
Goodwill Additions—————$518.3M
Accounts payable—$509.0K$266.0K$71.0K$455.0K-$1.4M
Increase (Decrease) in Accounts Receivable—————$162.0K
Accrued liabilities—$113.0K———$251.0K
Increase (decrease) in contract liabilities and current deferred income—-$18.0K-$13.0K——$27.0K
Increase (Decrease) in Inventories$13.0K$212.0K$221.0K$0.0$78.0K$42.0K
Increase (Decrease) in Other Current Assets$3.5K$4.0K$6.0K$3.0K$4.0K-$48.0K
Other liabilities-$1.1M$113.0K-$716.0K—-$194.0K$50.0K
Increase (Decrease) in Prepaid Expense and Other Assets-$86.0K-$142.0K-$2.0K—-$51.0K$747.0K
Infrastructure Costs—$600.0K$600.0K$600.0K$600.0K$822.0K
Debt———$1.5M$1.5M$178.0K
Interest Paid, Excluding Capitalized Interest, Operating Activity————$2.0K$1.0K
Issuance Costs On Bridge Loanrelated Party Recorded In Accounts Payable—$2.5K$2.5K$2.5K$2.5K—
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$1.2M$758.0K$848.0K$1.5M$3.1M$350.0K
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$5.0K————$30.4M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation-$4.6M-$4.3M-$3.1M-$1.6M-$2.3M-$4.3M
Number of reportable segments—$0.3$0.3$0.3$0.3$2.0
Operating Lease Payments$73.0K$87.0K$58.0K$72.0K$45.0K$1.6M
Operating lease right-of-use assets amortization expense—————$118.0K
Other Noncash Income (Expense)-$89.0K-$8.0K————
Other income, net (Note 6)$76.0K$60.0K$35.0K$65.0K$23.0K$20.0K
Other Research And Development Expense$100.0K$800.0K$100.0K——$899.0K
Ownership Percentage—5.0%5.0%5.0%5.0%—
Payments to Acquire Businesses, Net of Cash Acquired—————-$36.7M
Payments to Acquire Property, Plant, and Equipment$5.0K————$6.2M
Percentage Of Total Deferred Revenue—100.0%———2.2%
Dividend rate of preferred stock per annum (as a percent)—————35.8%
Proceeds from Issuance of Common Stock$1.2M$758.0K$848.0K———
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options—————$149.2K
Cash received from option exercises$3.8K$21.8K$21.8K$21.8K$21.8K$382.0K
Purchase Price Amount—————$4.9M
Repayment Of Bridge Loan————$1.5M$1.5M
Repayment Of Premium On Loan Obligations————$3.0M$3.0M
Royalty Commitment—————$6.1M
Stock-based compensation$530.0K$299.0K$780.0K$691.0K$1.1M$2.2M
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Number Of RS Us Vested Vested—44.6K44.6K44.6K44.6K—
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Weighted Average Grant Date Fair Value Vested And Converted To Shares—————$6.47
Expected volatility0.4%65.2%——5.8%75.0%
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value—$1.76$1.76$1.76$1.76$10.71
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period—53.2K53.2K53.2K53.2K11.4K
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other—-1.6K-1.6K-1.6K-1.6K-8.7K
Risk-free rate0.0%4.4%————
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value—$1.81$1.81$1.81$1.81$6.47
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value—$1.76$1.76$1.76$1.76$6.47
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period—————102K
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period—53.2K53.2K53.2K53.2K2.7M
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Converted To Shares In Period—————-25.7K
Stock-based compensation, shares issued during period (in shares)—————4.8M
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Number Of RS Us Vested Forfeited Or Cancelled—-44.6K-44.6K-44.6K-44.6K—
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1$600.0K$415.0K$0.0$600.0K$1.9M$132.0K
Issue of shares upon vesting of restricted stock units (in shares)—————102K
Short Term Debt Interest Rate Increase————14.7%—
Stock Issued During Period Value Issuance Of Common Stock Warrants—————$11.0K
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment$1.2M$758.0K$848.0K———
Stock Issued During Period, Value, Stock Options Exercised—$21.8K$21.8K$21.8K$21.8K$393.0K
Additions for tax positions of prior years$105.8K—————
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount$1.4M$575.0K$575.0K$575.0K$575.0K—

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financing interest expense—————$257.0K
Inventory Write-Down—$196.3K$196.3K$196.3K$196.3K$32.0K

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$-6.05$-5.35$-0.41$-4.73$-5.88$-3.13
Diluted earnings per share$-6.05$-5.35$-0.41$-4.73$-5.88$-3.13
Antidilutive Securities Excluded from EPS—560.6K4.1M—771K70M
Weighted-average shares, basic29K967.3K7.8M851.1K59.3K1.6M
Weighted-average shares, diluted29K967.3K7.8M851.1K59.3K1.6M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit-$456.0K-$436.0K-$259.0K-$200.0K-$945.0K—
Operating income-$4.7M-$5.2M-$3.3M-$2.6M-$4.4M-$4.8M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes—-$5.2M———-$5.0M
Income (Loss) from Continuing Operations Before Income Taxes, Domestic—-$4.6M-$4.6M-$4.6M-$4.6M—
Income (Loss) from Continuing Operations Before Income Taxes, Foreign—$51.3K$51.3K$51.3K$51.3K—
Income Before Tax, Domestic—-$4.6M-$4.6M-$4.6M-$4.6M—
Income Before Tax, Foreign—$51.3K$51.3K$51.3K$51.3K—