Chaince Digital Holdings Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Chaince Digital Holdings 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	73.2	88.7	0	1.74	1.4	0.67	0.86	0.45	0.49	1.87
Cost of revenue	72.9	0	0	0.26	0.08	0.7	1.38	1.42	0.26	0.67
Gross profit	0.34	0	0	1.48	1.32	-0.03	-0.52	-0.98	0.23	1.2
Research and development										0.15
Selling and marketing	20.4	15.2	5.79		0	0	0.04	0.45	0.1	0.16
General and administrative	7.53	1.44	1.81	0.74	1.16	10.4	2.16	2.52	2.09	4.16
Operating expenses	27.9	1.44	1.81	0.74	1.99	13.3	5.37	7.52	2.24	4.97
Operating income	-27.6	-1.44	-1.81	0.74	-0.67	-13.3	-5.89	-8.5	-2	-3.77
Other non-operating income	0.04	0	0	0.03	-0.03	-0	0	0	-0.03	1.27
Pre-tax income	-27.5	-1.44	-1.81	0.77	-0.69	-13.3	-5.88	-9.45	-1.58	-2.38
Income tax	-2.23	0	0	0	0	0	-0.25	-0.09	0.34	-0.08
Income from continuing operations	-25.3	-1.44	-1.81	0.77	-0.69	-13.3	-5.63		-1.92	-2.29
Net income to minority interests	0
Net income	-25.3	-162	-123	-1.23	-1.65	-21.7	-5.63	-9.36	-4.53	-5.1
EBITDA	-18.7	7.19	-0.3		-0.67	-13.3	-5.86	-7.6	-1.33
EPS, basic	-0.02	-0.11	-0.08	0.00	-0.25	-2.23	-0.39	-0.20	-0.07	-0.08
EPS, diluted	-0.02	-0.11	-0.08	0.00	-0.25	-2.23	-0.39	-0.20	-0.07	-0.08
Shares, basic (weighted)	1,474	1,476	1,477	1,723	6.69	9.72	14.4	45.8	60.9	66
Shares, diluted (weighted)	1,474	1,476	1,477	1,723	6.69	9.72	14.4	45.8	60.9	66

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	2.6	0.02	0	0.44	0.17	0.44	7.45	16.1	23.9	33.8
Short-term investments								2.32	0.96	2.24
Receivables	1.65	0	0	1.65	1.53	0	0			0.3
Inventory	0.22	0.54	0.59
Other current assets	0.43	0.53	0.4	0.01	0.1	1.3	0.01	5.21	3.27	0.02
Total current assets	13.4	12.1	4.62	2.13	2.47	1.74	7.52	23.7	30.2	45.2
Property, plant and equipment	1.98	1.8	0.41			0	5.96	4.76	0.01	0.01
Lease right-of-use assets						0	0.87	0.56	0.24	0.99
Goodwill	221	0	0	5.53	8.11	0
Intangible assets	36.3	10.3	0	1.21	0.38	7.28	4.23	0.71	0.12	0.12
Long-term investments	0.72	0.77	0					0.16
Other non-current assets	0.15	0.16	0			7.28
Total assets	274	134	5.02	8.87	11	9.02	18.9	30.4	35.7	46.6
Accounts payable	2.2	3.98	0	0	0.02	0	0.02	0.02	0.02	0.15
Accrued liabilities	1.91	2.84	0	0.06	0.14	0.06	0.06
Deferred revenue						0	0.08			0.23
Total current liabilities	15.2	20.8	20.3	0.84	0.71	1.37	1.43	12.3	11.6	1.76
Lease liabilities						0	0.63	0.28		0.78
Other non-current liabilities	1.35	0.15	0.03	0	0	0
Total liabilities	25.6	30.6	27.2	0.84	0.71	1.37	2.06	12.6	11.6	2.56
Paid-in capital	633	634	634	645	649	668	683	693	703	728
Retained earnings	-352	-514	-637	-638	-640	-662	-667	-677	-680	-686
Other comprehensive income	-32.6	-16.6	-19.1	1.05	1.1	1.1	1.16	1.17	1.19	1.08
Shareholders' equity	248	104	-22.2	8.03	10.3	7.65	16.8	17.8	24.1	44
Total equity	248	104	-22.2	8.03	10.3	7.65	16.8	17.8	24.1	44
Total liabilities and equity	274	134	5.02	8.87	11	9.02	18.9	30.4	35.7	46.6
Shares outstanding	1,476	1,476	1,476	2,109	2,978	4,938	35.2	60.8	62.3	72.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-25.3	-162	-123	-1.23	-1.65	-21.7	-5.63	-9.36	-4.53	-5.1
Depreciation and amortization	8.9	8.63	1.51		0	0	0.03	0.9	0.68
Stock-based compensation	1.1	1.07	-0.06	0	0.29	8.35	0.56	0.08		1.4
Deferred income tax	-2.43	-7.15	-2.38				-0.25	-0.09	0.34	-0.08
Change in receivables	1.94	0	0.17	-1.65	0.84	0.38	0			-0.3
Change in inventory	-0.14	-0.29	-0.08
Change in payables					0	0	0.02	-0.02	-0	0.06
Cash from operations	-5.83	-9.87	-4.33	-0.64	-0.61	-1.41	-1.55	-2.79	-3.57	-2.41
Capital expenditures	-1.86	-0.74	-0.01		0	0	-0.01	-0	-0
Acquisitions	0	0
Cash from investing	-2.58	-0.74	-0.01	0.59	0	0	0.94	-7.84	3.79	-1.17
Debt issued				0	0	0.94	0.4
Debt repaid				0	0	-0.09	-0.58
Stock issued			0	0	0.3	0.71	7.9	11	10	17.8
Cash from financing	0	12.6	1.69	0	0.3	1.68	7.72	19.3	7.58	13.4
Exchange rate effect	-0.14	0.28	-1.9	0.14	0.04	0	-0.01	-0	0	-0
Net change in cash	-8.55	2.31	-4.56	0.08	-0.26	0.27	7.1	8.67	7.8	9.81
Free cash flow	-7.69	-10.6	-4.34		-0.61	-1.41	-1.56	-2.79	-3.58
Interest paid	0	0.15	0.35	0.21	0	0	0			0.38

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $5.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	64.3%	Gross profit / revenue.
Operating margin	-202.0%	Operating income / revenue.
Pre-tax margin	-127.2%	Pre-tax income / revenue.
Net margin	-273.0%	Net income / revenue.
Operating cash flow margin	-129.1%	Cash from operations / revenue.
Return on equity (ROE)	-15.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-12.4%	Net income / average total assets.
Return on invested capital (ROIC)	-57.4%	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	7.9%	Research and development expense / revenue.
Stock-based pay / revenue	75.0%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	277.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	29.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	412.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 5y	-1.9%	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	82.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	37.8%	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	33.8%	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	30.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	35.1%	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	33.6%	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	8.5%	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	66.0%	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	58.1%	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	25.7x	Current assets / current liabilities.
Quick ratio	20.7x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	20.5x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	5.5%	Total liabilities / total assets.
Working capital	$43.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$43.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.05x	Revenue / average total assets.
Fixed asset turnover	225x	Revenue / average property, plant and equipment.
Receivables turnover	6.22x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.
Days payables	46 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.08	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	-$0.08	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.03	Revenue / diluted weighted shares.
Operating cash flow per share	-$0.04	Cash from operations / diluted weighted shares.
Book value per share	$0.60	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.60	Tangible book value / shares outstanding.
Cash per share	$0.49	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$586.3M	Share price x shares outstanding.
Enterprise value	$550.3M	Market cap + total debt - cash - short-term investments.
P/S	314x	Market cap / revenue.
P/B	13.3x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	13.4x	Market cap / tangible book value, when positive.
EV/Sales	295x	Enterprise value / revenue.
Earnings yield	-0.9%	Net income / market cap (the inverse of P/E).

What was Chaince Digital Holdings Inc.'s revenue in fiscal 2025?

Chaince Digital Holdings Inc. reported revenue of $1.9M for fiscal 2025, 277.9% higher than the year before.

Was Chaince Digital Holdings Inc. profitable in fiscal 2025?

No. It reported a net loss of $5.1M.

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.

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