Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data BGIN BLOCKCHAIN Ltd 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
FY2023
FY2025
FY2025
Revenue
257
302
67.4
Cost of revenue
58.1
175
143
Gross profit
199
128
-75.6
Research and development
10.1
16.4
20.2
General and administrative
14.6
7.16
13.9
Operating income
174
81.6
-176
Other non-operating income
-0.09
-0.85
1.48
Pre-tax income
174
80.8
-175
Income tax
33.8
14.6
2.34
Net income to minority interests
-0.05
-0.21
0.09
Net income
140
66.1
-177
EBITDA
177
91.3
-155
EPS, basic
1.30
0.61
-1.62
EPS, diluted
1.30
0.61
-1.62
Shares, basic (weighted)
108
108
109
Shares, diluted (weighted)
108
108
109
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
46.7
115
26.3
Receivables
0.01
Inventory
12.5
7.85
Other current assets
9.19
6.11
Total current assets
195
63.9
Property, plant and equipment
71.7
27.3
Lease right-of-use assets
0.43
0.23
Total assets
271
92.8
Accounts payable
6.85
2.82
Accrued liabilities
0.34
0.47
Deferred revenue
0.95
0.27
Total current liabilities
60.6
38
Lease liabilities
0.12
0.09
Total liabilities
60.7
38.1
Paid-in capital
26.6
Retained earnings
210
28.1
Other comprehensive income
-0.24
-0.24
Shareholders' equity
210
54.5
Minority interests
0.35
0.26
Total equity
149
210
54.7
Total liabilities and equity
271
92.8
Cash flow statement
FY2023
FY2025
FY2025
Net income
140
66.1
-177
Depreciation and amortization
2.96
9.65
21.1
Stock-based compensation
0.56
Deferred income tax
-0.28
-2.11
2.11
Change in receivables
-2.81
2.81
Change in inventory
-3.53
-121
-74.1
Change in payables
3.47
5.22
-4.09
Cash from operations
-31.3
-199
-167
Capital expenditures
-6.69
-13
-4.19
Cash from investing
77.7
268
55.5
Stock issued
0
Dividends paid
-4.05
Cash from financing
-0.36
-0.54
22.8
Exchange rate effect
0
Net change in cash
46.1
68.1
-88.5
Free cash flow
-38
-212
-171
Income taxes paid
0.02
0.38
18.1
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.90 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-112.2%
Gross profit / revenue.
Operating margin
-261.3%
Operating income / revenue.
EBITDA margin
-230.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-259.1%
Pre-tax income / revenue.
Net margin
-262.6%
Net income / revenue.
FCF margin
-253.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-247.6%
Cash from operations / revenue.
Return on equity (ROE)
-134.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-97.3%
Net income / average total assets.
Return on invested capital (ROIC)
-226.0%
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%.
R&D / revenue
30.0%
Research and development expense / revenue.
Stock-based pay / revenue
0.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
6.2%
Capital expenditures / revenue.
D&A / revenue
31.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-77.7%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-159.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-315.7%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-269.8%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-367.5%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-365.6%
EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-74.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-65.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
1.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.68x
Current assets / current liabilities.
Quick ratio
0.69x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.69x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.62
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
-$1.62
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.62
Revenue / diluted weighted shares.
FCF per share
-$1.57
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.53
Cash from operations / diluted weighted shares.
Book value per share
$0.50
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.19x
Market cap / revenue.
P/B
3.94x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.94x
Market cap / tangible book value, when positive.
EV/Sales
2.80x
Enterprise value / revenue.
FCF yield
-79.6%
Free cash flow / market cap.
Earnings yield
-82.3%
Net income / market cap (the inverse of P/E).
Dividend yield
1.9%
Dividends paid over the period / market cap.
Shareholder yield
1.9%
(Dividends paid + share buybacks) / market cap.
What was BGIN BLOCKCHAIN Ltd's revenue in fiscal 2025?
BGIN BLOCKCHAIN Ltd reported revenue of $67.4M for fiscal 2025, 77.7% lower than the year before.
Was BGIN BLOCKCHAIN Ltd profitable in fiscal 2025?
No. It reported a net loss of $177.0M.
How much free cash flow did BGIN BLOCKCHAIN Ltd generate in fiscal 2025?
Cash from operations of $166.9M minus capital expenditures of $4.2M left free cash flow of -$171.1M.
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.