Executive Summary
Blueone Card Inc (BCRD) reported a QQ2 2025 quarter with a clear cash burn and a balance sheet in distress. The company posted a net loss of $234,061 and an operating loss of $229,816, with an EPS of -0.0193. Gross profit was negative by $37,568 due to cost of revenue matching disclosed activity, and no revenue was disclosed in the period, limiting top-line insight. Cash flow from operations was negative by $88,378, while financing activity provided $85,000, leaving a modest cash balance of $11,975 at quarter-end. The company’s balance sheet shows total assets of $835,799 against total liabilities of $924,417 and negative stockholders’ equity of $88,618, signaling meaningful liquidity and solvency risks. Current liquidity metrics are severely constrained (current/quick/cash ratios all around 0.02 or lower), underscoring the need for additional capital or a material shift in operating performance to regain financial flexibility.
Key Performance Indicators
Key Insights
Revenue: Not disclosed for QQ2 2025; YoY and QoQ data unavailable. Gross Profit: -$37,568; YoY -2187.11%; QoQ -14.53%. Operating Income: -$229,816; YoY 45.74%; QoQ 10.79%. Net Income: -$234,061; YoY 43.63%; QoQ 9.75%. EPS: -0.0193; YoY 44.06%; QoQ 10.23%. Cash Flow: Net cash provided by operating activities -$88,378; Free cash flow -$88,378; Net change in cash -$3,378; Cash at end of period $11,975; Cash at beginning of period $15,353. Balance sheet: Total assets $835,799; Total liabilities $924...
Financial Highlights
Revenue: Not disclosed for QQ2 2025; YoY and QoQ data unavailable. Gross Profit: -$37,568; YoY -2187.11%; QoQ -14.53%. Operating Income: -$229,816; YoY 45.74%; QoQ 10.79%. Net Income: -$234,061; YoY 43.63%; QoQ 9.75%. EPS: -0.0193; YoY 44.06%; QoQ 10.23%. Cash Flow: Net cash provided by operating activities -$88,378; Free cash flow -$88,378; Net change in cash -$3,378; Cash at end of period $11,975; Cash at beginning of period $15,353. Balance sheet: Total assets $835,799; Total liabilities $924,417; Total stockholders’ equity -$88,618; Cash and cash equivalents $11,975; Intangible assets $551,683; Property, plant & equipment net $260,990; Net debt $44,848. Liquidity/solvency: Current ratio 0.0207; Quick ratio 0.0207; Cash ratio 0.0132. Profitability/valuation: Gross margin not computable due to undisclosed revenue; Price-to-book and related ratios severely negative reflecting negative equity. Earnings quality: Earnings per share (GAAP) -$0.0193; Weighted average shares outstanding 12,123,758.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-37.57K |
-2 187.11% |
-14.53% |
| Operating Income |
-229.82K |
45.74% |
10.79% |
| Net Income |
-234.06K |
43.63% |
9.75% |
| EPS |
-0.02 |
44.06% |
10.23% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.01
freeCashFlowPerShare
$-0.01
priceEarningsRatio
-71.09
Management Commentary
No earnings call transcript was provided in the data set for QQ2 2025. Consequently, there are no management-provided quotes to quote directly. Implicit themes inferred from the financials suggest management may be prioritizing liquidity preservation and balance-sheet repair, given the material negative equity and significant cash burn. The lack of disclosed revenue alongside a heavy operating cost base implies a transitional phase where monetization of the core payout-card platform has not yet materialized into meaningful top-line growth. Investors should monitor for any forthcoming management commentary on revenue trajectory, capital-raising plans, and potential asset impairments or restructuring actions.
Forward Guidance
No formal forward guidance was disclosed in the provided data. Given the QQ2 2025 results, credible near-term guidance would likely hinge on a path to revenue generation, cost discipline, and access to additional liquidity (equity, debt, or strategic partnerships). Industry dynamics in payout solutions and prepaid cards remain competitive, with potential upside if Blueone Card can monetize its intangible assets or accelerate partnerships that drive volume. Key factors to monitor include: (1) any announced capital-raising activities or debt refinancings; (2) the timing and magnitude of revenue growth or contract wins; (3) impairment considerations on intangible assets (recent large intangible base suggests potential for impairment charges if revenue remains depressed); (4) runway and cash burn relative to operating plan over the next 4–8 quarters.