Risk factors
Netcapital (NCPL) risk factors
Item 1A of every Netcapital Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2025 10-K risk factors51 risks
Netcapital faces severe going concern doubts with $5.1 million in negative working capital and an $8.3 million operating loss in fiscal 2025. The company took $17.9 million in impairment charges on equity investments and owes $0.5 million to the SBA. The core business relies heavily on online capital formation and a single escrow agent, Luminate Bank.
Filed Aug 12, 2025