Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Lion Group 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
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
7.4
18.5
10.2
25
5.09
21.1
1.24
9.39
Gross profit
6.57
18.5
10.2
25.2
-2.47
21.1
-4.87
Research and development
1.21
4.69
0.01
Selling, general and administrative
1.5
0.24
0.24
Selling and marketing
0.36
0.21
0.21
General and administrative
0.54
0.69
2.26
2.02
1.23
1.43
0.88
0.6
Operating expenses
9.31
10.2
12.8
25.9
31.5
26.9
22.7
14.4
Operating income
-2.74
8.28
-2.57
-0.77
-34
-5.83
Interest expense
0
0.73
0.18
1.61
2.33
2.41
0.15
0.45
Interest income
0.06
0
0.1
0.03
0.5
0.24
Pre-tax income
-2.74
8.28
-2.57
-0.77
-34
-5.83
-27.6
-4.97
Income tax
0.03
0.06
0
0.05
0
0
0
0
Net income to minority interests
-0.85
-2.41
-0.57
-0.11
-0.01
Net income
-2.77
8.22
-2.58
0.02
-31.6
-5.26
-27.4
-4.96
EBITDA
-2.71
8.33
-2.53
0.52
-31.9
-4.03
EPS, basic
-253.53
754.10
-162.52
-8,796.00
-22,733.00
-3,859.00
-1,702.00
-29.12
EPS, diluted
-253.53
754.10
-162.52
-8,796.00
-22,733.00
-3,859.00
-1,702.00
-29.12
Shares, basic (weighted)
0.01
0.04
3.11
Shares, diluted (weighted)
0.01
0.01
0.43
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
3.12
6.39
3.43
15.1
11.2
29
16.9
20.1
Other current assets
0
0
0
1.8
Total current assets
13
16.6
128
69
53.4
18.6
26.2
Property, plant and equipment
0.07
0.03
17.5
13.8
19.8
17.4
15
Lease right-of-use assets
1.16
0.59
0.21
0.11
Intangible assets
0.07
0.09
1.11
Long-term investments
1.55
1.44
0.02
Other non-current assets
0.23
6.26
1.46
1.21
0.68
0.11
0.03
Total assets
15.7
13.4
22.9
149
86.6
74.5
36.4
54.6
Accounts payable
3.85
5.22
36
23.8
22.5
18.9
0.95
Accrued liabilities
0.03
0.06
0.06
0.06
Short-term debt
1.41
0.29
0.11
0.11
0.11
3.26
0.11
Total current liabilities
6.23
11.3
91.5
53.9
44.3
27.8
6.38
Lease liabilities
0.62
0.08
0.06
0.05
Other non-current liabilities
2.67
Total liabilities
6.23
13.6
93.5
59.2
46.1
29.2
32.3
Paid-in capital
7.61
12.3
54.1
63.7
71.5
77.9
82.8
Retained earnings
-0.38
-2.95
-2.93
-34.5
-39.8
-67.2
-72.2
Other comprehensive income
-0.04
-0.02
-0.06
-0.3
-0.27
-0.31
-0.13
Shareholders' equity
5.77
7.19
9.3
55
28.9
31.5
10.5
25.6
Minority interests
-0.76
-1.46
-3.12
-3.34
-3.31
Total equity
5.77
7.19
9.3
54.2
27.4
28.4
7.2
22.3
Total liabilities and equity
13.4
22.9
149
86.6
74.5
36.4
54.6
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-2.77
8.22
-2.58
-0.83
-34
-5.83
-27.6
-4.97
Depreciation and amortization
0.03
0.05
0.04
1.3
2.03
1.8
2.44
2.39
Stock-based compensation
3.66
0.38
1.3
1.67
1.34
0.21
Deferred income tax
-0
-0
-0
0
Change in receivables
0.19
0.07
0.02
Change in payables
0.78
-0.26
0.51
0.59
2.49
-0.6
Cash from operations
-1.18
7.98
0.11
-20.5
-3.94
13.4
-19.1
-3.52
Capital expenditures
-7.85
-0.01
Purchases of investments
-1.55
Cash from investing
-0.06
-27.3
-6.55
-12.1
-7.09
1.42
-0.11
-21.6
Debt issued
0.21
27.4
0.15
Debt repaid
-1.5
Stock issued
1.5
Cash from financing
5.42
20.7
2.64
43.6
9.81
1.66
5.49
28
Exchange rate effect
-0.02
0.09
0.02
-0.03
-0.12
0.21
0.06
0.06
Net change in cash
4.15
1.47
-3.79
11
-1.35
16.7
-13.7
2.93
Free cash flow
5.56
-3.54
Interest paid
0.73
0.12
0.84
1.61
2.03
0.24
0.04
Income taxes paid
0.18
0
0.01
0.05
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $7.30 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
-52.9%
Pre-tax income / revenue.
Net margin
-52.8%
Net income / revenue.
FCF margin
-37.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-37.5%
Cash from operations / revenue.
Return on equity (ROE)
-27.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-10.9%
Net income / average total assets.
Stock-based pay / revenue
2.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.1%
Capital expenditures / revenue.
D&A / revenue
25.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
657.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
22.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-1.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
143.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-3.9%
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
22.5%
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
50.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-14.2%
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
19.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.11x
Current assets / current liabilities.
Quick ratio
3.15x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.15x
(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
-$29.12
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$6.7M
Share price x shares outstanding.
Enterprise value
-$13.4M
Market cap + total debt - cash - short-term investments.
P/S
0.72x
Market cap / revenue.
P/B
0.26x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.26x
Market cap / tangible book value, when positive.
FCF yield
-52.5%
Free cash flow / market cap.
Earnings yield
-73.6%
Net income / market cap (the inverse of P/E).
What was Lion Group Holding Ltd's revenue in fiscal 2025?
Lion Group Holding Ltd reported revenue of $9.4M for fiscal 2025, 657.5% higher than the year before.
Was Lion Group Holding Ltd profitable in fiscal 2025?
No. It reported a net loss of $5.0M.
How much free cash flow did Lion Group Holding Ltd generate in fiscal 2025?
Cash from operations of $3.5M minus capital expenditures of $11.5K left free cash flow of -$3.5M.
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.