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Industrial distribution · Industrials
Polibeli reported revenue of $24M in the fiscal year ended Dec 2025, down 16.8% from the year before. Operating income was −$8M, an operating margin of −31.3%, and net income was −$6M. Operating cash flow of −$6M less capital expenditure of $154,969 left free cash flow of −$7M.
Ranks among the 15 industrial distribution companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue | 21.9 | 29.0 | 24.1 |
| Cost of revenue | 21.8 | 29.1 | 24.5 |
| Gross profit | 1.0 | 1.1 | 1.9 |
| Selling, general & admin | 4.1 | 6.7 | 6.8 |
| Operating income | −6.3 | −9.6 | −7.6 |
| Pre-tax income | −6.7 | −11.0 | −6.0 |
| Income tax | 0.0 | – | 0.0 |
| Net income | −6.7 | −11.0 | −6.0 |
| Diluted EPS | −0.02 | −0.03 | −0.02 |
| Diluted shares | 360 | 360 | 363 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Cash & equivalents | 3.0 | 2.6 | 1.8 |
| Receivables | – | 5.5 | 8.0 |
| Inventory | – | 4.3 | 2.6 |
| Current assets | – | 19.2 | 16.7 |
| Net PP&E | – | 0.3 | 0.3 |
| Total assets | – | 21.0 | 17.5 |
| Payables | – | 0.8 | 1.7 |
| Deferred revenue | – | 0.4 | 0.1 |
| Current liabilities | – | 12.9 | 19.0 |
| Short-term debt | – | 0.5 | 0.0 |
| Long-term debt | – | 0.0 | – |
| Total liabilities | – | 45.7 | 63.0 |
| Shareholders' equity | −9.2 | −24.6 | −45.4 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Operating cash flow | −4.7 | −5.5 | −6.4 |
| Capital expenditure | 2.0 | 0.1 | 0.2 |
| Free cash flow | −6.7 | −5.7 | −6.5 |
| Depreciation & amortisation | 0.1 | 0.3 | 0.2 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue growth (YoY) | – | 32.7% | −16.8% |
| Gross margin | 4.7% | 4.0% | 8.0% |
| Operating margin | −28.8% | −33.0% | −31.3% |
| Net margin | −30.7% | −37.8% | −24.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −117.6% | 515.4% |
| Free cash flow margin | −30.7% | −19.5% | −27.0% |
| Cash conversion (CFO ÷ net income) | 0.70x | 0.51x | 1.06x |
| Receivable days | – | 69 | 120 |
| Inventory days | – | 54 | 39 |
| Payable days | – | 10 | 25 |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −2.1 | – |
| Current ratio | – | 1.49x | 0.88x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.