Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Boqii Holding 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
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
154
187
159
98.2
64.6
61
Cost of revenue
126
149
125
78.8
50.7
44.9
Gross profit
28.6
38.3
34
19.5
13.9
16
Selling and marketing
24.5
27
18.1
11.8
10.3
11.8
General and administrative
17.4
12
6.78
8.21
6.97
5.21
Operating income
-31.4
-21.8
-15.1
-8.33
-8.18
-4.35
Interest expense
4.22
3.29
1.94
1.02
0.9
0.12
Interest income
2.68
2.44
1.08
0.37
0.14
0.06
Other non-operating income
1.73
0.95
0.75
-0.55
0.1
4.28
Pre-tax income
-29.5
-21.3
-15.6
-9.68
-8.18
-0.12
Income tax
-0.13
-0.25
-0.13
-0.13
-0.11
0.19
Net income to minority interests
0.19
-0.7
-0.46
-0.72
-0.62
0.46
Net income
-29.7
-20.3
-15
-8.82
-7.46
-0.74
EBITDA
-30.4
-20.6
-14
-7.45
-7.46
-4.17
EPS, basic
-0.20
-0.30
-0.22
-0.09
-6.30
-0.21
EPS, diluted
-0.20
-0.30
-0.22
-0.09
-6.30
-0.21
Shares, basic (weighted)
67
68
0.43
0.63
1.21
3.79
Shares, diluted (weighted)
67
68
0.43
0.63
1.21
3.79
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
44.6
25.7
13.1
10.1
5.33
7.17
Short-term investments
25.7
20.2
10.2
0.55
Receivables
6.98
7.77
11.2
6.94
4.04
1.73
Inventory
14
17.3
11.8
7.64
5.52
3.8
Other current assets
13
18.4
11.6
13.1
12.5
12.7
Total current assets
106
91.3
59.1
38.5
30.6
28.1
Property, plant and equipment
1.28
1.23
0.8
0.43
0.59
0.19
Lease right-of-use assets
4.46
6.08
3.26
1.24
0.43
0.54
Goodwill
6.13
6.42
Intangible assets
4.51
4.03
3.14
2.48
2.02
0.01
Long-term investments
11.3
13
11
9.13
8.96
5.21
Other non-current assets
0.63
0.77
0.96
0.48
0.26
0.24
Total assets
134
123
78.7
53.1
43.6
35
Accounts payable
11
14.9
8.16
3.36
2.7
1.18
Accrued liabilities
0.96
1.08
1
0.41
0.26
0.15
Deferred revenue
0.59
1.11
0.65
0.22
0.24
0.28
Short-term debt
13.1
25.4
12.6
2.11
1.25
2.32
Total current liabilities
33.1
49.8
28.6
9.98
6.32
8.63
Long-term debt
10.4
Lease liabilities
3.05
4.45
1.86
0.43
0.12
0.33
Total liabilities
114
83.6
46
16.9
12.1
8.99
Total debt
10.4
Paid-in capital
499
520
479
461
461
488
Retained earnings
-421
-456
-436
-424
-429
-452
Other comprehensive income
-3.08
-7.27
-5.42
-5.47
-5.21
-8.24
Shareholders' equity
12.6
31.4
26
30.3
26.2
27.3
Minority interests
6.87
6.73
5.75
4.74
4.1
-1.19
Total equity
19.5
38.1
31.7
35
30.3
26.1
Total liabilities and equity
134
123
78.7
53.1
43.6
35
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-29.5
-21
-15.4
-9.54
-8.08
-0.27
Depreciation and amortization
1.08
1.21
1.14
0.88
0.72
0.17
Stock-based compensation
8.4
2.27
-1.12
0.09
0.01
0
Deferred income tax
-0.29
-0.16
-0.14
-0.13
-0.11
0.17
Change in receivables
-0.13
-0.97
-4
3.76
2.93
0.39
Change in inventory
-5.93
-3.66
4.45
3.68
2.09
1.18
Change in payables
-3.36
2.86
-5.29
-4.36
-0.64
-1.63
Cash from operations
-37.8
-23.3
-7.87
-3.52
-9.21
-4.24
Capital expenditures
-0.99
-0.49
-0.26
-0.07
-0.46
-0.15
Acquisitions
-0.43
-0.01
1.48
Purchases of investments
-2.49
Cash from investing
-28.1
3.34
6.77
6.62
3.39
3.44
Debt issued
13.4
29.3
16.1
2.08
4.34
2.75
Debt repaid
-11.3
-27.9
-27.3
-11.9
-5.19
-1.74
Stock issued
0
41.5
12.8
4.98
2
3.53
Cash from financing
99
0.32
-11.2
-4.59
1.12
2.37
Exchange rate effect
-0.88
0
Net change in cash
33.1
-19.6
-12.3
-1.49
-4.7
1.56
Free cash flow
-38.8
-23.8
-8.14
-3.6
-9.67
-4.4
Key metrics
Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $0.83 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
26.3%
Gross profit / revenue.
Operating margin
-7.1%
Operating income / revenue.
EBITDA margin
-6.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-0.2%
Pre-tax income / revenue.
Net margin
-1.2%
Net income / revenue.
FCF margin
-7.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-7.0%
Cash from operations / revenue.
Return on equity (ROE)
-2.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-1.9%
Net income / average total assets.
Return on invested capital (ROIC)
-16.8%
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
0.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.3%
Capital expenditures / revenue.
D&A / revenue
0.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-5.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-27.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-17.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
15.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-22.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-10.9%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
4.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
1.6%
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
16.7%
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
-19.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-23.6%
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
-23.6%
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
214.4%
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
106.5%
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
-43.7%
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
3.25x
Current assets / current liabilities.
Quick ratio
1.03x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.83x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.21
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
-$0.21
Net income per basic share, as reported (split-adjusted).
Revenue per share
$16.08
Revenue / diluted weighted shares.
FCF per share
-$1.16
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.12
Cash from operations / diluted weighted shares.
Book value per share
$7.19
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.11x
Market cap / revenue.
P/B
0.24x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.24x
Market cap / tangible book value, when positive.
FCF yield
-67.2%
Free cash flow / market cap.
Earnings yield
-11.3%
Net income / market cap (the inverse of P/E).
What was Boqii Holding Ltd's revenue in fiscal 2026?
Boqii Holding Ltd reported revenue of $61.0M for fiscal 2026, 5.7% lower than the year before.
Was Boqii Holding Ltd profitable in fiscal 2026?
No. It reported a net loss of $738.0K.
How much free cash flow did Boqii Holding Ltd generate in fiscal 2026?
Cash from operations of $4.2M minus capital expenditures of $154.0K left free cash flow of -$4.4M.
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.