Forensic Analysis · Software & SaaS · as of Nov 8, 2026
Cloudastructure, Inc. (CSAI)
A forensic read on Cloudastructure, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-8.6
Distress distance
Watch
Earnings quality
4
Forensic signals
-201.3%
ROE
271.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Cloudastructure, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -8.6, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+29.3%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +29% over the last 1 year to FY2025 (+29.3%/yr). The count is growing — 14.6M shares in FY2024, 18.8M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~29.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~23%.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-0.6M to FY2025 $+0.5M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.Accruals ratio: the year-over-year change in net operating assets, relative to their own average.NOA (net operating assets): the money tied up in running the business, operating assets minus operating liabilities.
63d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 52 to 63 days FY2024→FY2025 (receivables +346% vs revenue +271%). Receivables grew, but deferred revenue grew +21% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections. There's no FY2023 figure on file for receivables, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.DSO (days sales outstanding): the average days the company waits to collect cash after a sale.
46% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 46% of revenue in FY2025 — about $0.12 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 29.3% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$5.1M
Revenue Growth YoY+271.4%
Net Margin-167.0%
Free Cash Flow-$7.2M
Return on Equity-201.3%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Cloudastructure, Inc.'s actual 10-K/10-Q/8-K filings?