CapForce Inc

opgen.com

What Do They Do?

Provides listing sponsorship and consulting services to growth-stage private companies seeking public-market listings, and is developing a digital investment banking platform for investors and private companies.

How Do They Make Money?

Companies pay CapForce for listing sponsorship and consulting work; the work is completed in stages, and fees can include shares in the client as well as cash.

FY2025 revenue

Who Are Their Customers?

Growth-stage private companies seeking public listings are CapForce’s current customers. The company provides listing sponsorship and consulting services directly to a client.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 96% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 78 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$1.2M.

Operating income, FY2025

80% of revenue

▲ +7300% vs FY2024 ($324.7K, 6%)

Net income, FY2025

78% of revenue

▲ +97% vs FY2024 ($12M, 231%)

Free cash flow, FY2025

−4% of revenue

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1150%; vs $4M in Q2 FY2025
Net income: ▲ +1110%; vs $3.5M in Q2 FY2025

Growing. Revenue grew 7.0x in 4 years, from $4.3M in FY2021 to $30.2M in FY2025, about 63% a year.

From diagnostics to capital markets The older report describes molecular diagnostic products, tests, and informatics for infectious disease. The latest report describes listing sponsorship and consulting, alongside a developing digital investment banking platform and capital table management services.

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