QS Energy, Inc. (OTC: QSEP), an SEC filer in Oil & Gas Field Machinery & Equipment, closed at $0.11, +5.9%, on 2026-09-03, with a market cap of $56M as of 2026-09-01. Institutional ownership, earnings history and filed financials are on the tabs below.
| Market Cap | $59.9M | |
| Enterprise Value | — | |
| Revenue | $0 | — |
| Gross Profit | — | — |
| EBITDA | -$6.2M | — |
| Net Income | -$6.4M | — |
| Diluted EPS | -$0.03 | — |
| Free Cash Flow | -$2.9M | — |
Values as filed for each fiscal year on screen; an empty bar is an unfiled year; EPS breaks at a share-basis change (⚠). ⓘ
Every bar is a figure as filed. Anything a filed line doesn’t explain is drawn as a residual, never absorbed into a neighbouring step.
This filer skips: gross profit, pretax income.
Reconciliation.
| Step | Applied | Running level | share | 2024 |
|---|---|---|---|---|
| Revenue · reported | $0 | $0 | — | $0 |
| R&D | -$1.6M | -$1.6M | — | $191,000 |
| Other (residual) · residual | -$13.3M | -$14.9M | — | — |
| Operating income · reported | -$14.9M | -$14.9M | — | -$1.6M |
| Interest expense | -$389,000 | -$15.3M | — | $358,000 |
| Income tax | -$1,600 | -$15.3M | — | $0 |
| Other (residual) · residual | $8,600 | -$15.3M | — | — |
| Net income · reported | -$15.3M | -$15.3M | — | -$1.9M |
Cumulative operating cash flow over FY2021–FY2025 is -$7.4M — not positive, so there is no operating-cash pool to allocate and no bridge is drawn. Lenders and other balance-sheet businesses routinely report negative operating cash flow (loan originations run through it); read the cash-flow statement directly below.
| Line | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| R&D Expense | $350,000 | $486,000 | $203,000 | $191,000 | $1.6M |
| YoY % | +38.9% | -58.2% | -5.9% | +743.5% | |
| Operating Income | -$1.2M | -$1.3M | -$891,000 | -$1.6M | -$14.9M |
| Interest Expense | — | — | — | $358,000 | $389,000 |
| YoY % | +8.7% | ||||
| Impairment of Real Estate | $0 | $0 | $0 | $0 | $0 |
| Income Tax | $0 | $0 | $0 | $0 | $1,600 |
| Net Income | -$1.4M | -$1.5M | -$1.2M | -$1.9M | -$15.3M |
| EPS (Basic) | $0.00 | $0.00 | $0.00 | $0.00 | -$0.03 |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | $0.00 | -$0.03 |
| Weighted Avg Shares (Basic) | 336.0M | 361.8M | 385.6M | 405.0M | 499.7M |
| YoY % | +7.7% | +6.6% | +5.0% | +23.4% | |
| Weighted Avg Shares (Diluted) | 336.0M | 361.8M | 385.6M | 405.0M | 499.7M |
| YoY % | +7.7% | +6.6% | +5.0% | +23.4% |
Sector is SIC-based, not GICS. A blank cell means the figure wasn't filed.
