Impact Biomedical Inc. (IBO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 24, 2026
Impact Biomedical Inc. (IBO)
A forensic read on Impact Biomedical Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Grey Zone
Financial health
394.5
Distress distance
Clean
Earnings quality
4
Forensic signals
72.1
P / E (ttm)
-93.9%
ROE
$715M
Market cap
-57.1%
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 (red flags, auditor quality, say on pay, board independence, going concern, valuation). 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.
Impact Biomedical Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 394.5, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+99.2%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +99.2% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 96% of net operating assets, against an accruals ratio of 99.2%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
n/m (stock split)
FY2023–FY2025
Share count (stock split).Diluted share count changed -48% over the last 2 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -27.6%/yr figure isn't a real buyback/dilution read here.
41% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 41% of revenue in FY2025 — about $0.00 per basic share. It is a real cost, but it is not a cash cost — no cash left the business, which is why operating cash flow adds it back. Where a compensation charge lands instead is the share count, and this filer's count is not on file in enough years to say how the count moved.
$25M
FY2024–FY2024
Goodwill impairments.
Key fundamentals
Latest Revenue$32,000.00
Net Margin-36993.8%
Return on Equity-93.9%
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 Impact Biomedical Inc.'s actual 10-K/10-Q/8-K filings?