Metalpha Technology Holding Ltd (MATH)
Metalpha Technology Holding Ltd reported revenue of $44.6M in fiscal 2025, up 165.9% from a year earlier. Net income was $15.8M, a net margin of 35.4%. Operating cash flow minus capital spending left $24.7K of free cash flow in fiscal 2025. At March 31, 2025 it held $6.9M in cash against $188K of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on August 6, 2026.
Key facts about Metalpha Technology Holding Ltd
- Net worth
- Metalpha Technology Holding Ltd has a market value (market cap) of $48.5M at the latest share price, and shareholders' equity of $36.6M on its balance sheet at March 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $44.6M (+165.9% year on year), with net income of $15.8M.
- Cash flow
- In fiscal 2025 operations brought in $72K of cash; after $47.3K of capital spending, free cash flow was $24.7K.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on August 6, 2026 and covers the period to March 31, 2026. Open on SEC EDGAR
- Next earnings report
- Metalpha Technology Holding Ltd's next report is expected around June 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Metalpha Technology Holding Ltd does
Metalpha Technology Holding Ltd is registered with the SEC under industry code SIC 6199 (Finance Services). Its shares trade on NASDAQ under the ticker MATH.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $44.6M | $15.8M | $0.41 | $24.7K |
| 2024 | $16.8M | -$3.7M | -$0.11 | -$11.6M |
| 2023 | $5.7M | -$20.6M | -$0.76 | -$1.1M |
| 2022 | $2.2M | -$14.4M | -$0.79 | n/a |
| 2021 | $225.7K | -$5.1M | -$0.44 | n/a |
| 2020 | $11.3K | -$1.4M | -$0.12 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MATH ranks in Finance
Latest SEC filings
What Metalpha Technology Holding Ltd has filed recently, newest first. Each links to the original document on SEC EDGAR.
- September 29, 2026
- September 15, 2026Form F-3/A filing F-3/A
- August 21, 2026Form F-3/A filing F-3/A
- August 6, 2026
- August 6, 2026Annual report (foreign issuer) 20-F · period to March 31, 2026
- July 31, 2026Form NT 20-F filing NT 20-F
- June 29, 2026Form F-3 filing F-3
- May 14, 2026Passive stake changed SCHEDULE 13G/A
- May 14, 2026Activist stake changed SCHEDULE 13D/A
- March 31, 2026
Insider trades
What the people running Metalpha Technology Holding Ltd did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| July 1, 2026 | Fan PengyuanChief Financial Officer, Director | Exercised options | 3,750 | - |
| July 1, 2026 | Wang BingzhongChief Executive Officer, Director, 10% owner | Exercised options | 259,750 | - |
| July 1, 2026 | Wang BingzhongChief Executive Officer, Director, 10% owner | Exercised optionsindirect | 125,000 | - |
| May 12, 2026 | Wang BingzhongChief Executive Officer, Director, 10% owner | Other change | 434,520 | - |
Who owns MATH
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Bingzhong Wang13D, may seek influence with 1 related filers | 13.6% | May 14, 2026 |
| KBR Fund Management Ltd13G, passive with 1 related filers | 10.5% | February 6, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 14 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Jane Street Group, LLC | 88,245 | +44,090 |
| Susquehanna International Group, Llp | 56,669 | +10,115 |
| Goldman Sachs Group Inc | 52,647 | -6,573 |
| XTX Topco Ltd | 45,227 | +20,284 |
| Renaissance Technologies LLC | 37,424 | -8,676 |
| Geode Capital Management, LLC | 31,314 | 0 |
| Citadel Advisors LLC | 30,428 | -39,573 |
| Apollon Wealth Management, LLC | 10,529 | new |
| Morgan Stanley | 1,200 | -200 |
| Royal Bank of Canada | 689 | 0 |
| Bnp Paribas Financial Markets | 876 | -100 |
| UBS Group AG | 805 | new |
| Hrt Financial LP | 45,436 | +11,080 |
| Caitong International Asset Management Co., Ltd | 3 | new |
Insiders
2 insiders reported holding 2,721,430 shares in total, about $2.8M at the last price.
| Holder | Shares |
|---|---|
| Wang BingzhongChief Executive Officer, Director, 10% owner | 2,715,180125,000 held indirectly |
| Fan PengyuanChief Financial Officer, Director | 6,250 |
Questions about MATH
What does Metalpha Technology Holding Ltd do?
Metalpha Technology Holding Ltd is a company in the Finance sector, listed on NASDAQ as MATH. Its shares trade on NASDAQ under the ticker MATH.
What is Metalpha Technology Holding Ltd's net worth?
Metalpha Technology Holding Ltd has a market value (market cap) of $48.5M at the latest share price, and shareholders' equity of $36.6M on its balance sheet at March 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Metalpha Technology Holding Ltd profitable?
Yes. In fiscal 2025 it reported net income of $15.8M on revenue of $44.6M, a net margin of 35.4%.
How much revenue does Metalpha Technology Holding Ltd make?
In fiscal 2025 Metalpha Technology Holding Ltd reported revenue of $44.6M. That is 165.9% more than a year earlier.
When did Metalpha Technology Holding Ltd last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on August 6, 2026. It covers the period to March 31, 2026. Its newest filing of any kind is the foreign issuer update from September 29, 2026.
When is Metalpha Technology Holding Ltd's next earnings report?
Metalpha Technology Holding Ltd's next report is expected around June 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Metalpha Technology Holding Ltd tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.