zSpace, Inc
ZSPC Technology Computer Hardware
zSpace, Inc’s revenue for fiscal 2025 (year ended December 2025) was $27.9 million, down 26.9% from fiscal 2024. In the quarter to June 2026, revenue fell 27.7%, EPS grew 100.2%, free cash flow grew 71.7% and total debt fell 46.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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zSpace, Inc (ZSPC) Altman Z-score
zSpace, Inc's Altman Z-score for fiscal 2025 is −65.72, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −65.72 | (34.06) |
| FY2024 | −31.66 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (1.43) | — | −1.71 | |
| Retained earnings / total assets | (41.63) | — | −58.28 | |
| EBIT / total assets | (2.92) | — | −9.63 | |
| Market value of equity / total liabilities | 0.39 | — | 0.24 | |
| Sales / total assets | 3.67 | — | 3.67 | |
| Altman Z-score | Distress zone | −65.72 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −165.47 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| AGMH AGM Group Holdings Inc. compare | 2.0× |
| KTCC Key Tronic Corporation compare | 1.8× |
| EBON Ebang International Holdings Inc. compare | 0.8× |
| BTCT BTC Digital Ltd. compare | −4.5× |
| SCKT Socket Mobile, Inc. compare | −5.5× |
| UAVS AGEAGLE AERIAL SYSTEMS, INC. compare | −5.7× |
| QCLS Q/C Technologies, Inc. compare | −14.6× |
| ZSPC zSpace, Inc | −65.7× |
| MCRP Micropolis AI Robotics compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets