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zSpace, Inc. provides augmented and virtual reality educational technology solutions for K-12 schools, and career and technical education markets in the United States and internationally. The company provides hardware products to produce devices that deliver a 3D experience that includes Inspire, a current generation laptop product that delivers autostereoscopic 3D graphics which does not require any eyewear or headset; Imagine, a fourth-generation laptop product which delivers autostereoscopic 3D graphics not requiring any eyewear or headset and uses the zSpace hand-held stylus; and Tracked stylus which allows users to interact with the projection of the 3D information, as well as precise interaction with the virtual objects in open space. It also develops and delivers platform management software that enables the distribution, licensing, and management of web enabled applications; and end user applications. In addition, the company provides implementation and professional development services; and training services. Its platform offers a range of educational tools designed for K-12 science, technology, engineering, and math lessons, as well as training skilled trades in areas, such as health sciences, automotive engineering/repair, and software programming and advanced manufacturing. The company was formerly known as Infinite Z, Inc. and changed its name to zSpace, Inc. in February 2013. The company was incorporated in 2006 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $28M | $-24M | $-25M | $-18M | 112.8% | -26.9% | 21.9% |
| 2024 | $38M | $-18M | $-21M | $-9M | 141.8% | -13.3% | 59.7% |
| 2023 | $44M | $-10M | $-13M | $-6M | 10.0% | 22.7% | -14.1% |
| 2022 | $36M | $-11M | $-15M | $-9M | 13.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 35.78 | 43.92 | 38.10 | 27.86 |
| Operating Revenue | 35.78 | 43.92 | 38.10 | 27.86 |
| Cost Of Revenue | 22.66 | 27.03 | 22.53 | 14.60 |
| Gross Profit | 13.13 | 16.89 | 15.57 | 13.26 |
| Operating Expense | 23.03 | 25.51 | 33.23 | 35.40 |
| Research And Development | 4.67 | 4.22 | 4.89 | 5.30 |
| Selling General And Administration | 18.36 | 19.61 | 28.33 | 30.10 |
| Total Expenses | 45.69 | 52.54 | 55.76 | 50 |
| Operating Income | -9.90 | -8.62 | -17.66 | -22.14 |
| Total Operating Income As Reported | -9.90 | -8.62 | -17.66 | -22.14 |
| EBITDA | -11.38 | -10.10 | -17.96 | -23.89 |
| Normalized EBITDA | -10.05 | -8.56 | -17.60 | -23.89 |
| EBIT | -11.43 | -10.13 | -17.97 | -23.90 |
| Interest Expense | 3.70 | 2.90 | 2.82 | 1.48 |
| Net Interest Income | -3.70 | -2.90 | -2.82 | -1.48 |
| Other Non Operating Income Expenses | -0.20 | 0.02 | 0.04 | -1.76 |
| Other Income Expense | -1.53 | -1.52 | -0.32 | -1.76 |
| Interest Expense Non Operating | 3.70 | 2.90 | 2.82 | 1.48 |
| Net Non Operating Interest Income Expense | -3.70 | -2.90 | -2.82 | -1.48 |
| Pretax Income | -15.13 | -13.03 | -20.79 | -25.37 |
| Tax Provision | 0.04 | 0 | 0.03 | 0.01 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -0.08 | 0 |
| Net Income Continuous Operations | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income From Continuing And Discontinued Operation | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income From Continuing Operation Net Minority Interest | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income Common Stockholders | -15.17 | -19.27 | 22.52 | -25.39 |
| Net Income Including Noncontrolling Interests | -15.17 | -13.04 | -20.82 | -25.39 |
| Normalized Income | -13.84 | -11.50 | -20.54 | -25.39 |
| Diluted NI Availto Com Stockholders | -15.17 | -19.27 | 23.75 | -25.39 |
| Basic Average Shares | 0.90 | 0.90 | 0.91 | 1 |
| Diluted Average Shares | 0.90 | 0.90 | 0.91 | 1 |
| Reconciled Depreciation | 0.05 | 0.03 | 0.01 | 0.01 |
| Reconciled Cost Of Revenue | 22.66 | 27.03 | 22.53 | 14.60 |
| Total Unusual Items | -1.33 | -1.54 | -0.36 | 0 |
| Total Unusual Items Excluding Goodwill | -1.33 | -1.54 | -0.36 | 0 |
| Special Income Charges | -1.33 | -1.54 | -0.36 | 0 |
| Other Special Charges | 1.33 | 1.54 | 0.36 | - |
| General And Administrative Expense | 6.78 | 6.71 | 12.42 | 13.87 |
| Other Gand A | 6.78 | 6.71 | 12.42 | 13.87 |
| Other Operating Expenses | - | 1.68 | - | - |
| Selling And Marketing Expense | 11.58 | 12.90 | 15.92 | 16.23 |
| Otherunder Preferred Stock Dividend | - | 6.23 | -43.35 | 0 |
| Average Dilution Earnings | - | 0 | 1.22 | 0 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| zSpace, Inc.this co. | ZSPC | $1M | -0.04 | -0.04 | 112.8% | -0.75 |
| MicroVision, Inc. | MVIS | $143M | -1.50 | 2.57 | -171.0% | -2.08 |
| TTEC Holdings, Inc. | TTEC | $112M | - | 1.17 | -202.5% | - |
| Expensify, Inc. | EXFY | $111M | -5.19 | 0.84 | -16.1% | -5.60 |
| Airship AI Holdings, Inc. | AISP | $108M | 3.69 | -15.13 |
| -410.1% |
| -14.22 |
| SoundThinking, Inc. | SSTI | $99M | -10.51 | 1.37 | -13.1% | 159.23 |
| CSP Inc. | CSPI | $94M | -1029.32 | 2.10 | -0.2% | -114.33 |
| AudioEye, Inc. | AEYE | $90M | -29.36 | 18.80 | -64.1% | 177.33 |
| Neonode Inc. | NEON | $31M | 3.66 | 1.26 | 34.4% | 0.79 |
| Peer Median | - | -5.19 | 1.31 | -40.1% | -2.08 | |