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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% | - |
| 2024 | $38M | $-18M | $-21M | $-9M | 141.8% | -13.3% | - |
| 2023 | $44M | $-10M | $-13M | $-6M | 10.0% | 22.7% | - |
| 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 |
| 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 |
| Operating Income | -9.90 | -8.62 | -17.66 | -22.14 |
| EBITDA | -11.38 | -10.10 | -17.96 | -23.89 |
| EBIT | -11.43 | -10.13 | -17.97 | -23.90 |
| Pretax Income | -15.13 | -13.03 | -20.79 | -25.37 |
| Tax Provision | 0.04 | 0 | 0.03 | 0.01 |
| Net Income | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income Common Stockholders | -15.17 | -19.27 | 22.52 | -25.39 |
| Total Expenses | 45.69 | 52.54 | 55.76 | 50 |
| Interest Expense | 3.70 | 2.90 | 2.81 | 1.48 |
| Research And Development | 4.67 | 4.22 | 4.89 | 5.30 |
| Selling General And Administration | 18.36 | 19.61 | 28.33 | 30.10 |
| Normalized EBITDA | -10.05 | -8.56 | -17.60 | -23.89 |
| Normalized Income | -13.84 | -11.49 | -20.54 | -25.39 |
| Basic EPS | -0.67 | -0.85 | -0.91 | 0 |
| Diluted EPS | -0.67 | -0.85 | -0.91 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -0.08 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0.21 |
| Total Unusual Items | -1.33 | -1.54 | -0.36 | 0 |
| Total Unusual Items Excluding Goodwill | -1.33 | -1.54 | -0.36 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -15.17 | -13.04 | -20.82 | -25.39 |
| Reconciled Depreciation | 0.05 | 0.03 | 0.01 | 0.01 |
| Reconciled Cost Of Revenue | 22.66 | 27.03 | 22.53 | 14.60 |
| Net Interest Income | -3.70 | -2.90 | -2.81 | -1.48 |
| Net Income From Continuing And Discontinued Operation | -15.17 | -13.04 | -20.82 | -25.39 |
| Total Operating Income As Reported | -9.90 | -8.62 | -17.66 | -22.14 |
| Diluted Average Shares | 22.57 | 22.57 | 22.85 | 0 |
| Basic Average Shares | 22.57 | 22.57 | 22.85 | 0 |
| Diluted NI Availto Com Stockholders | -15.17 | -19.27 | 23.75 | -25.39 |
| Average Dilution Earnings | 0 | 0 | 1.22 | 0 |
| Otherunder Preferred Stock Dividend | 0 | 6.23 | -43.35 | 0 |
| Net Income Including Noncontrolling Interests | -15.17 | -13.04 | -20.82 | -25.39 |
| Net Income Continuous Operations | -15.17 | -13.04 | -20.82 | -25.39 |
| Other Income Expense | -1.53 | -1.52 | -0.32 | -1.75 |
| Other Non Operating Income Expenses | -0.20 | 0.02 | 0.04 | -1.75 |
| Special Income Charges | -1.33 | -1.54 | -0.36 | 0 |
| Other Special Charges | 1.33 | 1.54 | 0.36 | 0 |
| Net Non Operating Interest Income Expense | -3.70 | -2.90 | -2.81 | -1.48 |
| Interest Expense Non Operating | 3.70 | 2.90 | 2.81 | 1.48 |
| Other Operating Expenses | 0 | 1.68 | 0 | 0 |
| Selling And Marketing Expense | 11.59 | 12.90 | 15.91 | 16.23 |
| General And Administrative Expense | 6.78 | 6.71 | 12.42 | 13.87 |
| Other Gand A | 6.78 | 6.71 | 12.42 | 13.87 |
| Operating Revenue | 35.78 | 43.92 | 38.10 | 27.86 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| zSpace, Inc.this co. | ZSPC | $1M | - | -0.34 | 112.8% | -0.78 |
| TTEC Holdings, Inc. | TTEC | $141M | - | 1.49 | -170.5% | 5.74 |
| KULR Technology Group, Inc. | KULR | $111M | - | 0.91 | -50.9% | -2.45 |
| Expensify, Inc. | EXFY | $106M | - | 0.74 | -16.1% | -2.34 |
| SunPower Inc. | SPWR | $105M | - | -1.02 | 50.3% |
| -16.16 |
| CSP Inc. | CSPI | $103M | - | 2.29 | -0.2% | -30.63 |
| SoundThinking, Inc. | SSTI | $89M | - | 1.22 | -13.1% | 45.14 |
| Airship AI Holdings, Inc. | AISP | $76M | 2.91 | -10.63 | -410.1% | -9.02 |
| Neonode Inc. | NEON | $26M | 3.27 | 1.07 | 34.4% | -0.11 |
| Peer Median | - | 3.09 | 0.99 | -14.6% | -2.40 | |