Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BIT ORIGIN 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
FY2017
FY2019
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
63.3
101
99.1
24.2
80.5
6.26
6.26
2.89
0.04
Cost of revenue
58.2
91.5
90.4
22.2
77.5
10.8
10.8
3.83
Gross profit
5.07
9.65
8.65
2.03
3
-4.57
-4.57
-0.95
0.04
General and administrative
0.52
0.98
0.51
2.51
1.59
2.91
2.91
3.82
3.08
2.75
Operating expenses
1.55
2.61
0.51
3.44
3.47
23.7
23.7
13.9
3.03
14.3
Operating income
3.52
7.04
-0.51
-3.44
-3.47
-28.3
-28.3
-14.8
-2.99
-14.3
Interest expense
0.67
1.28
0.73
0.12
0.16
0.05
0.23
0.6
0.67
Interest income
0.74
0.39
0
0
0
0.1
0.21
0.21
Other non-operating income
-0.19
-2.56
0
-0.48
-0.17
0.09
0.09
-3.45
-1.38
-0.01
Pre-tax income
3.33
4.48
-0.51
-3.92
-3.64
-28.2
-28.2
-18.3
-4.37
-14.3
Income tax
0.88
0.71
0.21
0.22
-1
Net income to minority interests
0.48
-1.47
-5.4
-0.75
0.02
-0.01
Net income
2.45
3.77
4.36
-4.88
-45.6
3.24
-28.2
-17.5
-6.53
-23.9
EBITDA
4.05
7.58
0.18
-22.9
-13.9
-2.99
EPS, basic
36.05
57.08
63.09
-2,587.00
-1,003.00
-84.84
-70.43
EPS, diluted
36.05
57.08
63.09
-2,587.00
-1,003.00
-84.84
-70.43
Shares, basic (weighted)
0.07
0.07
0.07
22.4
1.11
0.01
3.28
0.02
0.08
0.34
Shares, diluted (weighted)
0.07
0.07
0.07
22.4
1.11
0.01
3.28
0.02
0.08
0.34
Balance sheet
FY2017
FY2019
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
0.02
0.32
2.68
1.07
0
0.02
0.02
1.41
0.06
1.57
Receivables
24.4
39.5
9.83
11.1
0
0
0.12
Inventory
0
0.11
0
0.23
Other current assets
0.32
0.21
1.06
0.13
18.2
0.34
0.02
0.55
0.35
Total current assets
29
45.7
50.3
32.5
23.9
3.57
6.68
3.54
10.2
Property, plant and equipment
3.96
3.34
0.01
0
8.03
7.37
Lease right-of-use assets
0
2.73
Goodwill
0
5.19
0
Intangible assets
0.49
0.46
0.44
0.31
Long-term investments
3
2.39
0
Total assets
33.7
51.4
63.3
40.9
35
13.3
6.68
3.54
21.2
Accounts payable
2.94
8.65
5.73
9.97
0.67
Deferred revenue
0.65
0.7
1.16
4.31
Short-term debt
4.91
0
0.78
9.89
Total current liabilities
16.9
22.8
32.7
38.7
0.3
2.59
2.49
0.37
1.46
Lease liabilities
0
0.58
Total liabilities
17.9
26.8
36.5
42.5
0.3
3.07
5.78
0.37
12.1
Total debt
0
0.78
Paid-in capital
4.66
11
15.8
32.2
69.7
73.4
81.1
92.2
117
Other comprehensive income
-0.04
-0.31
-0.86
1.12
0.48
Shareholders' equity
10.1
14
24.5
23.8
-3.22
34.7
10.3
1.66
3.9
5.62
Minority interests
0
3.02
1.6
-0.75
-0.74
-0.74
Total equity
10.1
14
24.5
26.8
-1.62
34.7
10.3
0.91
3.16
4.88
Total liabilities and equity
33.7
51.4
63.3
40.9
35
13.3
6.68
3.54
21.2
Shares outstanding
0.07
0.07
24
40.7
0.01
3.38
7.76
Cash flow statement
FY2017
FY2019
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
2.45
3.77
4.36
-4.4
-47.1
-28.2
-28.2
-18.3
-4.37
-14.3
Depreciation and amortization
0.53
0.54
0.69
5.36
0.9
0
Stock-based compensation
0
0
0.93
1.89
1.62
0.07
0.07
Deferred income tax
-0.04
-0.13
0
-0.17
-1.58
Change in receivables
-8.78
-12
0
-4.99
-6.7
Change in inventory
0.83
0.29
0
0.32
-0.22
Change in payables
2.41
0.07
0
2.45
3.61
0.67
-0.67
Cash from operations
-2.51
-3.6
-5.27
-5.91
-10.4
-14.2
-6.76
-7.93
-2.29
-2.92
Capital expenditures
-0.01
-0.09
-0.02
-0.7
-8.3
-0.12
Purchases of investments
-3
Cash from investing
-0.01
-0.09
1.19
0.16
0
-11.3
4.27
1.02
1.55
-0.2
Debt issued
0
0
0
0
0.76
Debt repaid
0
0
-1
Cash from financing
2.5
3.99
6.65
4.08
8.5
25.9
2.49
8.3
-0.61
4.64
Exchange rate effect
-0
-0.01
0.32
-0
0.46
-0.01
Net change in cash
-0.03
0.3
2.9
-1.68
-1.43
0.39
-0
1.39
-1.35
1.51
Free cash flow
-2.53
-3.68
-5.29
-6.61
-22.5
-6.88
Interest paid
0
1.39
0.82
0.49
0.64
0.09
0.27
0.61
0.61
Income taxes paid
0.67
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $2.21 on September 3, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-502.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-193.8%
Net income / average total assets.
Return on invested capital (ROIC)
-285.8%
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%.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
44.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-18.2%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
498.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
16.6%
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
-12.3%
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
341.1%
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
-53.0%
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
-21.0%
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
6.98x
Current assets / current liabilities.
Quick ratio
1.08x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.08x
(Cash + short-term investments) / current liabilities.
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
-$70.43
Net income per basic share, as reported (split-adjusted).
Operating cash flow per share
-$8.61
Cash from operations / diluted weighted shares.
Book value per share
$16.54
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.64x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.64x
Market cap / tangible book value, when positive.
Earnings yield
-260.2%
Net income / market cap (the inverse of P/E).
Was BIT ORIGIN Ltd profitable in fiscal 2026?
No. It reported a net loss of $23.9M.
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.