Helio Corporation

What they do

Helio operates through its wholly owned subsidiary Heliospace Corporation, an aerospace company incorporated in Delaware in 2018. Heliospace designs, engineers, assembles and tests space flight qualified hardware and provides systems engineering, modeling, analysis, integration and test services. Customers span government, commercial, private and non-profit markets, with stated expertise in civil space missions and a growing commercial business. Helio became the public parent through a January 2024 reverse acquisition in which Web3 Corporation acquired 100% of Heliospace and renamed itself Helio Corporation.

Revenue drivers

• Space flight qualified hardware — Design, engineering, assembly and test of hardware built to space flight standards; the filings describe this as a core offering but do not break out its dollar contribution.
• Engineering and integration services — Systems engineering, modeling, analysis, integration and test services sold to government, commercial, private and non-profit customers; no separate revenue split is disclosed.
• Government and civil space programs — The company cites deep expertise in civil space missions, and its risk factors flag dependence on U.S. government contracts and budget priorities, indicating government work is a significant revenue source without quantified share.
• Commercial space customers — Helio describes a growing business serving commercial companies, which management frames as an expansion channel alongside its government base; no segment-level figures are provided.

Recent performance

Full-year revenue fell to $3.9M in fiscal 2025 from $6.9M in fiscal 2024, while net loss widened to $4.0M from $1.9M and diluted EPS deteriorated to -$0.36 from -$0.17. Operating cash flow was negative $2.1M in fiscal 2025 versus negative $1.6M in fiscal 2024, so cash use exceeded the prior year even as revenue declined. The most recent three quarters reported revenue of $491,370 (October 2025), $495,550 (January 2026), $457,316 (April 2026) and $590,626 (July 2026). At July 31, 2026 the balance sheet showed total assets of $1.5M, total liabilities of $3.9M and shareholder equity of negative $2.4M, with cash and equivalents of $520,504.

Strategy

Management positions Helio to serve the expanding domain of space activity, from low-earth orbit to the Moon and beyond, by offering existing hardware, services and solutions in an agile, cost-effective manner. The company is a technology, engineering and R&D holding company, with Heliospace as the operating subsidiary. Since the fiscal year ended October 31, 2025, Helio has reshaped its leadership: Edward Cabrera became CEO and Chairman on January 5, 2026, Gregory T. Delory moved to CTO, Mark Knauf became CFO on January 19, 2026, and Vikas Parti, Mario Martinez and Bruce T. Campbell joined the Board in January 2026. The company has pursued financings and entered material agreements during 2026, and it acknowledges it will incur significant expenses and capital expenditures to execute its plan with no assurance of adequate financing.

Risks

• Going concern — The 10-Q states there is substantial doubt about the company's ability to continue as a going concern because of historical and expected operating losses and net operating cash flow deficits.
• Negative equity and thin liquidity — At July 31, 2026 shareholder equity was negative $2.4M against $3.9M of liabilities, with only $520,504 of cash, limiting the runway to fund operations.
• Government budget dependence — The company warns that changes in U.S. government budgetary priorities, budget deficits and continuing resolutions could adversely affect its business, results of operations and cash flows.
• Limited operating history and competition — Helio cites its limited operating history and competitors that may be better capitalized, have greater revenues and more industry or management experience, which could pressure prices, orders and margins.

Outlook

Management describes Helio as positioned to meet growing commercial and government space activity with existing hardware and services, but provides no specific revenue or earnings guidance in the excerpts. The filings repeatedly state that the company expects to incur significant expenses and capital expenditures and that there is no assurance it will obtain adequate financing. The most recent 10-Q includes a going-concern qualification tied to historical and expected losses and cash flow deficits. Forward-looking statements are qualified by these and other risk factors.