MODEL N, INC.
Technology · Services-Computer Programming, Data Processing, Etc. · DE · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | |
|---|---|---|---|---|---|---|
| Revenue | $249.5M | $219.2M | $193.4M | $161.1M | $141.2M | $154.6M |
| Operating income | −$4.1M | −$13.0M | −$14.4M | −$6.6M | −$15.0M | −$20.8M |
| Net income | −$33.9M | −$28.6M | −$29.7M | −$13.7M | −$19.3M | −$28.2M |
| Total assets | $500.1M | $392.2M | $363.8M | $320.3M | $169.6M | $166.2M |
| Total liabilities | $384.6M | $257.6M | $240.3M | $195.6M | $116.9M | $126.1M |
| Equity | $115.5M | $134.6M | $123.5M | $124.7M | $52.7M | $40.0M |
| EPS (diluted) | $-0.89 | $-0.78 | $-0.84 | $-0.40 | $-0.60 | — |
| Shares out. | 38.8M | 37.4M | 36.1M | 34.8M | 33.0M | 31.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2023- Operating margin
- −1.7%
- Net margin
- −13.6%
- Return on equity
- −29.4%
- Return on assets
- −6.8%
- Return on capital (ROCE)
- −1.0%
- Liabilities / assets
- 76.9%
- Debt / equity
- 3.33×
- Book value / share
- $2.98
- Revenue growth (YoY)
- 13.8%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2023- Altman Z″ (distress)
- 2.13grey zone
- Accruals / assets
- −11.5%clean
- Beneish M-Score
- -2.93normal
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 4 warning● 3 good- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Altman Z″ in the grey zone
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Material events
SEC Form 8-K · most recent- Entered a material agreement · Completed an acquisition or disposition · Delisting / listing-standard notice · Modified shareholder rights · Change in control · Director / officer change · Amended charter or bylaws · Shareholder vote · Other material eventJun 27, 2024
- Results of operationsMay 6, 2024
- Results of operations · Other material eventApr 22, 2024
- Entered a material agreement · Other material eventApr 8, 2024
- Shareholder voteFeb 16, 2024
- Results of operationsFeb 6, 2024
- Results of operationsNov 9, 2023
- Results of operationsAug 8, 2023
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.