Zapata Quantum Inc
ZPTA Technology Software Infrastructure
Zapata Quantum Inc’s revenue for fiscal 2024 (year ended December 2024) was $3.9 million, down 31.8% from fiscal 2023. In the quarter to June 2026, revenue fell 100.0%, EPS fell 120.0%, free cash flow fell 317.0% and total debt rose 12.4%, each against the same quarter a year earlier.
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Zapata Quantum Inc (ZPTA) Beneish M-score
Zapata Quantum Inc's Beneish M-score for fiscal 2024 is −38.03; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −38.03 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.21 | — | 1.11 | |
| Gross margin index | 1.18 | — | 0.62 | |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.68 | — | 0.61 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 2.12 | — | −0.37 | |
| Total accruals to total assets | (7.33) | — | −34.30 | |
| Leverage index | 4.23 | — | −1.38 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −38.03 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ZPTA Zapata Quantum Inc | −38.0× |
| HUBC Hub Cyber Security Ltd. compare | −21.8× |
| CETX Cemtrex Inc. compare | −5.0× |
| LHSW Lianhe Sowell International Group Ltd compare | −2.1× |
| CSAI Cloudastructure Inc. compare | −0.1× |
| YYAI AiRWA Inc. compare | 0.8× |
| WETO Wetour Robotics Limited compare | 2.1× |
| TAOP Taoping Inc. compare | 27.5× |
| VHAI Vocodia Holdings Corp. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI