Abits Group Inc financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Abits Group Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	0.37	0.95	0.22	0.16	1.68	6.71	9.13
Cost of revenue				0.36	0.46	3.34	5.45
Gross profit				-0.2	1.23	3.38	3.68
Selling, general and administrative	0.9	0.87	1.9
General and administrative				2.5	1.47	2.09	2.55
Operating income	-0.53	0.07	-2.87	-0.2	1.23	3.38	3.68
Interest expense			0.06
Interest income			0.01
Other non-operating income	0.83		0.13
Pre-tax income	0.3	0.07	-2.74	-21.5	-12.6	-0.8	-2.77
Income tax					0	0.11	0.1
Net income	0.3	0.07	-2.74	-21.5	-12.6	-0.91	-2.87
EBITDA				6.07	1.66	6	7.2
EPS, basic	0.01	0.00	-0.15	-9.56	-5.32	-0.39	-1.21
EPS, diluted	0.01	0.00	-0.15	-9.56	-5.32	-0.39	-1.21
Shares, basic (weighted)	43.6	16.2	18.9	2.37	2.37	2.37	2.37
Shares, diluted (weighted)	43.6	16.2	18.9	2.37	2.37	2.37	2.37

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.43	0.01	2.51	2.51	0.88	1.12	0.08
Receivables		1.46	0.23
Other current assets	0.94	0.94	5	7.09
Total current assets	2.53	2.3	2.74	4.89	1.66	1.68	0.9
Property, plant and equipment				12.6	9.46	9.44	8.53
Total assets	2.53	2.3	7.74	24.5	12.3	11.4	10.9
Accounts payable	1.88	1.54	1.17	0.61	1.01	0.99	1.26
Accrued liabilities	0.19	0.33	0.33
Short-term debt							1.5
Total current liabilities	2.38	1.89	1.17		1.01	0.99	2.76
Total liabilities	2.38	1.89	1.17	0.61	1.01	0.99	3.13
Total debt							0.38
Paid-in capital	40.1	40.1	49.3	89.3	89.3	89.3	89.6
Retained earnings	-40.7	-40.7	-43.8	-65.3	-77.9	-78.8	-81.7
Other comprehensive income	0.75	0.93	1.02	-0.1	-0.12	-0.15	-0.14
Shareholders' equity	0.15	0.4	6.57	23.9	11.3	10.4	7.78
Total equity	0.15	0.4	6.57	23.9	11.3	10.4	7.78
Total liabilities and equity	2.53	2.3	7.74	24.5	12.3	11.4	10.9
Shares outstanding	16.2	16.2	19.6	2.37	2.37	2.37	2.37

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.3	0.07	-2.74	-21.5	-12.6	-0.91	-2.87
Depreciation and amortization				6.26	0.44	2.63	3.52
Stock-based compensation							0.27
Deferred income tax					0	0
Change in receivables		-1.46	-0.05	-3.87
Change in payables			0.5	-0.59	-0.4	-0.02	0.27
Cash from operations	-1.18	-1.73	-1.1	-7.32	1.76	1.92	1.41
Capital expenditures				-30.7	-9.25	-2.6	-3.1
Cash from investing				-32.7	-3.36	-1.66	-4.33
Debt repaid			-0.39
Stock issued	0.4	1.27	3.98	40
Cash from financing	1.07	1.13	3.6	40			1.88
Exchange rate effect				0.02	-0.02	-0.02	0
Net change in cash	0.3	-0.42	2.49	-0	-1.62	0.23	-1.04
Free cash flow				-38	-7.49	-0.68	-1.69

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.18 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	40.3%	Gross profit / revenue.
Operating margin	40.3%	Operating income / revenue.
EBITDA margin	78.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-30.3%	Pre-tax income / revenue.
Net margin	-31.4%	Net income / revenue.
FCF margin	-18.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	15.5%	Cash from operations / revenue.
Return on equity (ROE)	-31.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-25.8%	Net income / average total assets.
Return on invested capital (ROIC)	33.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	34.0%	Capital expenditures / revenue.
D&A / revenue	38.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	36.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	281.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	57.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	8.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	119.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	19.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-26.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-25.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-31.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	81.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-23.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	36.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-31.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.33x	Current assets / current liabilities.
Quick ratio	0.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.05x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.4%	Total debt / total assets.
Liabilities / assets	28.7%	Total liabilities / total assets.
Net debt	$291.2K	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.04x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$1.9M	Current assets - current liabilities.
Tangible book value	$7.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.82x	Revenue / average total assets.
Fixed asset turnover	1.02x	Revenue / average property, plant and equipment.
Days payables	75 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	219.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$1.21	Net income per basic share, as reported (split-adjusted).
Revenue per share	$3.85	Revenue / diluted weighted shares.
FCF per share	-$0.71	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.60	Cash from operations / diluted weighted shares.
Book value per share	$3.28	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.28	Tangible book value / shares outstanding.
Cash per share	$0.04	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.8M	Share price x shares outstanding.
Enterprise value	$4.1M	Market cap + total debt - cash - short-term investments.
P/S	0.42x	Market cap / revenue.
P/B	0.49x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.49x	Market cap / tangible book value, when positive.
P/OCF	2.68x	Market cap / cash from operations, when positive.
EV/Sales	0.45x	Enterprise value / revenue.
EV/EBIT	1.11x	Enterprise value / operating income, when both are positive.
EV/EBITDA	0.57x	Enterprise value / EBITDA, when both are positive.
FCF yield	-44.5%	Free cash flow / market cap.
Earnings yield	-75.7%	Net income / market cap (the inverse of P/E).

What was Abits Group Inc's revenue in fiscal 2025?

Abits Group Inc reported revenue of $9.1M for fiscal 2025, 36% higher than the year before.

Was Abits Group Inc profitable in fiscal 2025?

No. It reported a net loss of $2.9M.

How much free cash flow did Abits Group Inc generate in fiscal 2025?

Cash from operations of $1.4M minus capital expenditures of $3.1M left free cash flow of -$1.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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