Forensic Analysis · Professional & Commercial Services · as of Jul 30, 2026
Rtb Digital, Inc. (RTB)
A forensic read on Rtb Digital, 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
Distress
Financial health
-33.0
Altman Z-score
Watch
Earnings quality
4
Forensic signals
-1.2
P / E (ttm)
-2623.7%
ROE
$262M
Market cap
0.00%
Dividend yield
-38.7%
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). 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.
Rtb Digital, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -33.0, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
36d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 19 to 36 days FY2024→FY2025 (receivables +4% vs revenue -39%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from positive to negative FY2024→FY2025 (FY2024 $+13.3M to FY2025 $-6.8M) — 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.
n/m (stock split)
FY2017–FY2025
Share count (stock split).Diluted share count changed -96% over the last 8 years to FY2025, but that includes a large one-time change around FY2023 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 -32.8%/yr figure isn't a real buyback/dilution read here.
$7M
FY2024–FY2024
Goodwill impairments.Took $7M of goodwill writedowns across 1 year (FY2024 ($7M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Latest Revenue$11.1M
Revenue Growth YoY-38.7%
Net Margin-157.5%
Free Cash Flow$-23.1M
Return on Equity-2623.7%
Debt / Equity26.01x
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Rtb Digital, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about RTB's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown