FOCUS UNIVERSAL INC.

Listed Company

FCUVCIK 0001590418NasdaqNon-AcceleratedSmaller ReportingIndustrial Instruments For Measurement, Display, And ControlNevadaFY ends Dec 31

Period

FY 2025

Revenue

$255.0K

Net Income

$-4.79M

Total Assets

$8.89M

Equity

$2.57M

Shares Out

1.03M

Op. Cash Flow

$-5.10M

Business

FOCUS UNIVERSAL INC. develops and commercializes universal smart IoT technologies and AI-enabled SEC financial reporting software. Its product and service offerings include the Ubiquitor universal smart device and USIP platform, device-on-a-chip, ultra-narrowband 5G+ and PLC technologies, a suite of environmental and horticulture sensors, Smart AVX installation services, air filtration and related meters, and SEC reporting software intended for SaaS deployment. The company operates through subsidiaries including Perfecular, AVX/Smart AVX, Focus Shenzhen and Lusher, and offers R&D, OEM engineering, licensing and M&A activities. It targets industrial markets such as controlled agriculture and aquaculture, smart home and residential customers, and distributes via B2B direct sales, distributors (including Hydrofarm), e-commerce and direct retail channels while assembling devices in the U.S. and sourcing/manufacturing in China.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	255,023	398,137	440,543	353,619	1
Cost of revenue	290,275	387,936	380,884	330,899	1
Gross (Loss) Profit	−35,252	10,201	59,659	22,720	297,159
Selling expense	60,289	100,189	118,762	142,372	39,821
Compensation - officers and directors	499,852	951,845	1	1	661,171
Research and development	919,965	1	1	1	220,469
Professional fees	1	2	767,606	896,385	1
General and administrative	2	2	2	2	1
Total Operating Expense	5	6	5	5	3
Loss from Operations	−5	−6	−5	−5	−3
Interest income, net	70,024	40,853	38,339	3,887	−37,608
Interest expense - related party	0	−89,098	—	—	—
Gain on disposal of property	0	3	0	—	—
Unrealized loss on marketable equity securities	−1,773	−12,075	8,033	−42,395	—
Rental income	0	96,541	160,910	166,288	186,212
Other income	37,245	60,449	74,604	13,587	196,474
Total other income	105,496	3	241,551	278,709	−204,390
Loss from continuing operations before income taxes	−5	−3	−5	—	—
Loss from discontinued operations, net of tax	0	−278,263	−7,907	—	—
Net loss	−5	−3	−5	−5	−3
Accretion of redeemable preferred stock	−453,334	0	—	—	—
Net loss available to common stockholders	−5	−3	—	—	—
Foreign currency translation loss	−6,207	−11,626	−7,021	—	—
Total comprehensive loss	−5	−3	−5	−5	−3
Basic net loss per shares continuing operations	−7.07	−4.35	−0.78	—	—
Diluted net loss per shares continuing operations	−7.07	−4.35	−0.78	—	—
Basic net loss per shares discontinued operations	0	−0.42	0	—	—
Diluted net loss per shares discontinued operations	0	−0.42	0	—	—
Net loss per share, Basic	−7.07	−4.77	−0.78	−0.08	−0.08
Net loss per share, Diluted	−7.07	−4.77	−0.78	−0.08	−0.08
Weighted average number of common shares outstanding, Basic	742,201	671,513	6	65	42
Weighted average number of common shares outstanding, Diluted	742,201	671,513	6	65	42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	8	4	428,254	4	9
Accounts receivable, net	7,125	5,584	13,528	78,313	177,315
Inventories, net	99,813	126,071	282,071	103,772	22,889
Other receivables	20,000	0	20,519	0	—
Prepaid expenses	492,953	100,730	87,874	142,342	301,270
Marketable securities	22,887	24,660	36,735	105,470	0
Deposit current portion	69,393	0	—	0	5,968
Total Current Assets	9	4	1	5	9
Property and equipment, net	66,705	60,485	4	4	4
Operating lease right-of-use asset	12,501	108,270	201,048	253,336	420,137
Capitalized software costs	159,179	0	—	—	—
Deposits	0	65,195	24,135	33,264	33,933
Total Assets	9	4	5	9	14
Accounts payable and accrued liabilities	358,007	702,065	435,018	267,685	293,354
Other current liabilities	0	68,204	25,859	6,496	23,902
Lease liability, current portion	8,464	106,706	90,172	113,058	121,568
Total Current Liabilities	366,471	876,975	2	1	571,442
Lease liability, less current portion	0	8,114	118,517	165,952	302,387
Total Liabilities	366,471	885,089	2	2	899,758
Contingencies (Note 11)	—	—	—	—	—
Common stock, par value $0.001 per share, 1,000,000,000 shares authorized; 915,097 and 715,366 shares issued and outstanding as of December 31, 2025 and 2024, respectively	915	715	6,477	65,297	43,259
Treasury stock (17,085 and 34,897 shares held at December 31, 2025 and 2024, respectively)	−494,390	−1	−434,048	−2	—
Additional paid-in capital	34	30	26	28	24
Shares to be issued, common shares (5,794 and 568 shares at December 31, 2025 and 2024, respectively)	82,884	25,573	74,476	48,075	—
Accumulated deficit	−31	−26	−23	−18	−13
Accumulated other comprehensive loss	−31,397	−25,190	−13,564	−6,543	−4
Total Stockholders Equity	3	3	4	8	13
Total Liabilities, Redeemable Preferred Stock and Stockholders Equity	9	4	5	9	14

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Bad debt expense	0	4,852	26,631	136,337	42,116
Inventory reserve	0	211,014	—	—	—
Depreciation expense	23,801	73,611	167,983	166,266	162,160
Stock-based compensation - shares	428,546	417,293	431,813	719,975	—
Stock based compensation - options	41,136	147,975	515,490	849,043	—
Compensation cost related to sale of common shares to related parties	0	340,000	—	—	—
Fair value of shares issued as commitment fee	0	250,000	0	—	—
Accounts receivable	−1,541	3,092	38,154	−37,335	−28,875
Inventories	26,258	−55,014	−178,299	−53,684	21,229
Other receivable	−20,000	20,407	−20,519	13,057	−13,057
Prepaid expenses	−390,859	−13,075	54,029	158,474	−210,017
Deposit	−3,029	−41,825	—	—	—
Operating lease right-of-use asset	97,765	87,869	325,329	139,754	−333,140
Accounts payable and accrued liabilities	−342,304	272,841	168,026	−21,722	94,484
Other current liabilities	−68,204	42,345	19,363	−17,135	17,299
Lease liabilities	−108,344	−88,735	−342,732	−117,245	328,846
Other liabilities	0	−12,335	0	12,064	−17,135
Net cash flows used in operating activities from continuing operations	−5	−5	−3	—	—
Net cash flows provided by (used in) operating activities from discontinuing operations	0	52,700	−52,700	—	—
Net cash used in operating activities	−5	−5	−4	−3	−2
Purchase of property and equipment	−28,106	−18,687	−20,620	−42,187	−22,990
Proceeds from sales of property	0	7	0	—	—
Capitalized software costs	−157,654	0	—	—	—
Net cash flows provided by (used in) investing activities	−185,760	7	54,146	−211,257	−22,990
Proceeds from sale of series B preferred stock, net	6	0	—	—	—
Series A preferred stock issued for cash	3	0	—	—	—
Proceeds from third party loan	0	350,000	—	—	—
Proceeds from related party loan	0	1	1	0	—
Repayment on related party loan	0	−2	0	—	—
Repayment on third party loan	0	−350,000	—	—	—
Common stock issued for placement agent	0	1	—	—	—
Common stock issued for private placement	822,502	1	0	—	—
Purchase of treasury stock	−494,389	−669,906	−1	−1	0
Net cash flows provided by financing activities	10	706,094	−434,048	−1	10
Effect of exchange rate	−13,942	−15,397	−6,508	−7,452	−43
Net change in cash	4	3	−4	−4	8
Cash paid for income taxes	3,807	0	0	0	0
Cash paid for interest	0	4,209	13,142	12,164	42,968
Receiving discount upon issuance of redeemable series B preferred stock	680,000	0	—	—	—
Accretion of redeemable series B preferred stock discount	453,334	0	—	—	—
Conversion of series B preferred stock into common stock	827,050	0	—	—	—

Filings

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