Nocopi Technologies Inc
nocopi.comWhat Do They Do?
Develops and sells specialty reactive inks for toy and educational products, and authentication inks for businesses and brand owners.
10-K for FY2025, filed Mar 31, 2026Nocopi Technologies, Inc. develops and markets specialty reactive inks for multiple applications across various industries. Our specialty…View ↗
We currently serve end markets that include children entertainment and toy products and anti-counterfeiting, anti-diversion segments that…View ↗
Our Copimark and Rub & Reveal technologies provide proprietary document authentication systems that are useful to businesses and brand…View ↗
Our technologies provide users with the ability to authenticate documents and detect counterfeit documents. Applications include the…View ↗
How Do They Make Money?
Licensees pay guaranteed minimum royalties over the contract term and additional royalties based on their sales or production; product buyers pay when goods ship, while technical-service fees are tied to services provided.
10-K for FY2025, filed Mar 31, 2026Our Company’s revenues are derived from (a) royalties paid by licensees of our technologies, (b) fees for the provision of technical…View ↗
Under certain license agreements, customers are required to pay guaranteed minimum royalties over the term of the contract. Management has…View ↗
In addition to guaranteed minimum royalties, certain license agreements provide for royalties based on the licensee’s sales or production…View ↗
Revenue from product sales is recognized at a point in time when control transfers to the customer, generally upon shipment under FOB…View ↗
Fees for technical services are recognized at the time of the transfer of services to customers at an amount that our Company expects to be…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by product or service ↗
$1.5M
-
10-K for FY2025, filed Mar 31, 2026
$1.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Licenses Royalties And Fees
Licensed
10-K for FY2025, filed Mar 31, 2026 |
41% |
Licenses Royalties And Fees, FY2025
$605.1K Sources
|
Licensed |
|
Productand Other Sales
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
59% |
Productand Other Sales, FY2025
$888.7K Sources
|
Sold outright |
Who Are Their Customers?
Toy and educational product companies use its inks through licensees and their licensed printers; businesses and brand owners use authentication inks through licensed printers and distributors. It also sells directly to a range of end customers.
10-K for FY2025, filed Mar 31, 2026Nocopi Technologies, Inc. develops and markets specialty reactive inks for multiple applications across various industries. Our specialty…View ↗
We currently serve end markets that include children entertainment and toy products and anti-counterfeiting, anti-diversion segments that…View ↗
Our marketing efforts for these technologies are focused on specific industries we believe may be affected by product counterfeiting. These…View ↗
Our current marketing efforts are focused on commercializing our developed technologies across current and new geographic and market areas.…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $154.9K in FY2025, but brought in more cash than it spent: $713.9K of free cash flow.
10-K for FY2025, filed Mar 31, 2026
−$601.4KView ↗
10-K for FY2025, filed Mar 31, 2026
−$154.9KView ↗
10-K for FY2025, filed Mar 31, 2026
$713.9KView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$471.9KView ↗
- ▲ +705% (Loss)
- vs −$58.6K in Q2 FY2025
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May 21, 2026
Acquired Polymeric's specialty ink and coating business
Bought substantially all assets of a manufacturer of inks and coatings for industrial, digital and screen printing applications.
Sources
8-K, filed May 21, 2026
On May 18, 2026, Nocopi Technologies, Inc., a Maryland corporation (the “Company”), entered into an Asset Purchase Agreement (the “Asset…View ↗
Shrinking. Revenue fell 23% in 4 years, from $2M in FY2021 to $1.5M in FY2025, about 6% a year.
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