One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Unusual Machines, Inc.
UMAC · ASE · Technology · Computer Hardware
Current price
$24.05
52-week range
$7.25 - $34.93
Market cap
$1.20B
Balance sheet
Healthy
-48,462.54x Concerning
Net cash $313.22M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 184.4% last year.
- Risk Return on equity was -2.9% last year — the company lost money on shareholders' equity.
What this company does
Unusual Machines, Inc.
Unusual Machines makes money by selling small drones and the parts needed to build them. The company uses several sales channels (the different ways a company sells its products), including selling directly to other businesses, on its website, and in retail stores. It is also working with a partner to develop smarter, self-flying drones, which matters because advanced technology could help it become a leader in a growing market.
How the company got here
Unusual Machines was founded in 2019 and initially operated under the name AerocarveUS Corporation. A major turning point came in February 2024, when the company went public with an IPO (Initial Public Offering, the first time a company sells its stock to the public) and at the same time acquired two other companies, Fat Shark and Rotor Riot. This move established its position in the drone industry. Before these acquisitions, Unusual Machines had very limited business operations.
What it actually does
Unusual Machines is a technology company that builds and sells parts for drones, as well as complete small drones. Think of them as a supplier for the growing American drone industry. Their products are designed to be compliant with U.S. defense standards, which opens the door for them to sell to government and military contractors. They sell their products to other businesses, directly to consumers online, and through retail stores.
Fat Shark
This part of the company designs and makes special video goggles for drone pilots. These aren't just any goggles; they provide an FPV (First-Person View), which makes the pilot feel like they are inside the drone, seeing what it sees in real-time with very little delay. This technology is a key component for drone enthusiasts and professional pilots. Fat Shark is a well-known brand in the FPV community.
Rotor Riot
Rotor Riot is an online store that sells FPV drones, parts, and accessories directly to people who are into drone flying as a hobby or for competitive racing. It's more than just a store; it's backed by a large community of drone pilots. This segment serves as a direct-to-consumer retail channel for the company, selling both its own products and those made by other companies.
Drone Components
This is a core part of the business, focusing on selling essential drone parts to other companies, including those in the defense industry. These components include things like flight controllers (the drone's brain), motors, cameras, and electronic speed controllers. A significant and growing piece of this business is providing parts that are made in the U.S. and meet specific government regulations, making them suitable for military and other sensitive applications.
What management is betting on now
The company is heavily focused on becoming a key American supplier of drone parts, reducing reliance on Chinese manufacturing. They are investing in expanding their U.S. production capabilities, including making strategic purchases of materials to meet expected high demand from defense and commercial customers. Unusual Machines is also growing through acquisitions, such as the planned purchase of Upgrade Energy, a drone battery manufacturer, to bring more critical component manufacturing in-house. They are also making strategic investments in other drone and robotics companies to stay at the forefront of the industry.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-536.67K
FY2024 Q4
$-1.28M
FY2025 Q1
$-1.19M
FY2025 Q2
$-2.93M
FY2025 Q3
$-8.82M
FY2025 Q4
$-10.29M
FY2026 Q1
$-18.11M
FY2026 Q2
$-21.67M
Revenue
$16.72M
Net income
$-7.78M
Diluted EPS
-0.16
Operating cash flow
$-21.48M
Free cash flow
$-21.67M
Fetching…
Sources
Revenue
$8.10M
Net income
$10.28M
Diluted EPS
0.21
Operating cash flow
$-17.41M
Free cash flow
$-18.11M
Fetching…
Sources
Revenue
$4.90M
Net income
$-10.57M
Diluted EPS
-0.26
Operating cash flow
$-9.78M
Free cash flow
$-10.29M
Fetching…
Sources
Revenue
$2.13M
Net income
$1.60M
Diluted EPS
0.05
Operating cash flow
$-7.53M
Free cash flow
$-8.82M
Fetching…
Sources
Revenue
$2.12M
Net income
$-6.96M
Diluted EPS
-0.32
Operating cash flow
$-2.67M
Free cash flow
$-2.93M
Fetching…
Sources
Revenue
$2.04M
Net income
$-3.27M
Diluted EPS
-0.21
Operating cash flow
$-1.19M
Free cash flow
$-1.19M
Fetching…
Sources
Revenue
$2.00M
Net income
$-27.12M
Diluted EPS
-3.20
Operating cash flow
$-1.28M
Free cash flow
$-1.28M
Fetching…
Sources
Revenue
$1.53M
Net income
$-2.14M
Diluted EPS
-0.30
Operating cash flow
$-536.67K
Free cash flow
$-536.67K
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $24.05
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $313.2M - more cash than debt. Interest coverage -48462.5x.
Net debt
$-313.22M
Interest coverage
-48,462.54x
Unusual Machines, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
UMAC
BASELINE
Unusual Machines, Inc.
Total debt $3.16M Interest coverage -48,462.54x This is the baseline the peer rows are being compared against.
Total debt $14.87M Interest coverage -970.67x Neither company has much profit cushion over interest right now.
Total debt $850.82M Interest coverage -12.52x Neither company has much profit cushion over interest right now.
Total debt $41.10M Interest coverage -8.88x Neither company has much profit cushion over interest right now.
Total debt $160.01K Interest coverage -19.09x Neither company has much profit cushion over interest right now.
What you should know
The case for and against UMAC
1 Reward
1 Risk
Rewards
-
Revenue grew 184.4% last year.
Risks
-
Return on equity was -2.9% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-74.38x
P/B
3.10x
P/S
37.72x
EV/EBITDA
-30.06x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
34.8%
Operating margin
-46.8%
Net margin
-20.3%
ROE
-2.9%
ROA
-8.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.01x
Current ratio
53.82x
Quick ratio
47.49x
Total debt
$3.16M
Total cash
$316.37M
Growth
How the business has been compounding
Revenue TTM
$31.85M
Revenue 5Y CAGR
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EPS TTM
-0.14
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-56.21M
Free CF TTM
$-23.24M
FCF margin
-73.0%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—