A2Z CUST2MATE SOLUTIONS CORP.
AZ · General Industrial Machinery & Equipment, NEC · EDGAR filings ↗
Grade
D43Smart-cart developer with explosive losses, customer concentration and limited runway despite revenue growth.
Strengths
- Strong revenue growth (+47%, 84.6th pct) led by smart-cart deliveries
- Liquid balance sheet (current ratio 11.4x) and minimal debt
Risks
- Severely negative margins (net -487%, operating -461%) and $138M accumulated deficit
- Cash runway ~2.3 quarters (25th pct); explicit need for dilutive capital
- Smart-cart revenue from a single customer — high concentration risk
Notable findings
- No interest coverageInterest coverage -29.91 (cannot cover interest)
- Net lossNet loss (net margin -487.1%)
- Cash burnNegative free cash flow (-23.4M)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
13.8%
Operating margin
-461.4%
Net margin
-487.1%
Return on equity
-50.4%
Return on assets
-45.2%
ROIC
-37.7%
Revenue growth (QoQ)
135.7%
Debt / equity
0.0×
Interest coverage
-29.9×
Current ratio
11.4×
Free cash flow
-$23M
Tangible book value
$76M
Cash & investments
$14M
Cash runway
2q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-01 | 2025-12-31 | 0001493152-26-014416 ↗ |
| 20-F | 2025-03-31 | 2024-12-31 | 0001641172-25-001723 ↗ |
| 20-F | 2024-04-03 | 2023-12-31 | 0001493152-24-012884 ↗ |
| 20-F | 2023-03-27 | 2022-12-31 | 0001493152-23-009101 ↗ |
| 40-F | 2022-04-01 | 2021-12-31 | 0001493152-22-008620 ↗ |