Rezolve AI PLC — Earnings Quality Grade F
RZLV · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 139 days (128 → 266)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR outpaced revenue for 2 consecutive years
Revenue grew 2224.2% but CFFO declined -182.1%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
No material inventory
CapEx growth 577.9% vs revenue 2224.2%. Normal
SG&A/Gross Profit = 331.7%, exceeds 70%
Gross margin swung -24.4pp (90.4% → 66.0%)
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.1B)
Accruals ratio = -6.3%. Low accruals
Cash $0.1B covers 71% of debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 165% of equity. Over 50%
Interest coverage = -24.8x (<2x). Financial stress
Other assets grew 5274.1% vs revenue 2224.2%
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles surged 5940% YoY
Manipulation Score
M-Score = 19.19 (> -1.78). LIKELY MANIPULATOR
Small-cap context: Beneish M-Score was calibrated on large-caps; small-cap DSO/inventory volatility mechanically inflates it.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25