MicroAlgo Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data MicroAlgo 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

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue		82	87.1	81.9	75.3	60
Cost of revenue		48.9	68.2	57.3	53.9	44.6
Gross profit	-0.12	33.1	19	24.6	21.4	15.5
Research and development		16.6	13.9	22.8	15.5	9
Selling, general and administrative		5.28	5.13	3.52	2.75	2.98
Operating expenses		25.1	26.8	59.2	18.6	12.3
Operating income		8.05	-7.86	-34.6	2.8	3.18
Interest income		0
Other non-operating income		0.52	0.38	-3.32	5.34	16
Pre-tax income	-0.12	8.57	-7.48	-37.9	8.14	19.2
Income tax		0.08	-0.56	-0.35	0.85	1.04
Net income to minority interests		-0.08	0.04	0.28	1.92	1.94
Net income	-0.12	8.57	-6.96	-37.6	7.29	18.1
EBITDA		9.54	-6.49	-33.6	2.98	3.38
EPS, basic				-8.30	1.46	2.12
EPS, diluted				-8.30	0.56	2.12
Shares, basic (weighted)		3.96	0.02	0.02	3.67	7.66
Shares, diluted (weighted)		3.96	0.02	0.02	9.66	7.66

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0	42.7	42.7	44.8	144	175
Short-term investments		0	0	2.6	20.8	162
Receivables		2.77	2.6	3.25	3.3	6.2
Inventory		0.82	0.13
Other current assets		3.94	3.72	6.85	7.38	6.93
Total current assets	0.08	54	55.2	57.6	176	350
Property, plant and equipment		0.07	0.15	0.11	0.06	0.02
Lease right-of-use assets	2.7	0.32	0.15	0.05	0.22	0.11
Goodwill	22.5	21.9	15.3
Intangible assets		4.37	0.96
Long-term investments						0.01
Other non-current assets		27.5	16.7	0.32	0.36	0.2
Total assets	0.19	81.6	72.1	58	176	350
Accounts payable		2.05	2.04	2.96	2.59	3.88
Accrued liabilities	0.04
Deferred revenue		1.91	1.61	1.46	0.47	1.01
Total current liabilities	0.3	22	4.8	12	28.8	15.5
Lease liabilities		0.16	0.03		0.1	0.03
Total liabilities	0.3	23	5.08	12	28.9	15.6
Paid-in capital	0.02	27.6	47.4	62.1	151	332
Retained earnings	-0.13	26.5	19.1	-10.9	-4.67	11.4
Other comprehensive income		2.9	-1.62	-7.72	-6.92	-14.2
Shareholders' equity	-0.1	58.4	66.8	45.4	145	330
Minority interests		0.24	0.26	0.54	2.45	4.44
Total equity	49	52.8	65.9	45.9	147	335
Total liabilities and equity	0.19	81.6	72.1	58	176	350
Shares outstanding	1.15	39.6	4.39	5.16

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-0.12	8.48	-6.58	-28.7	7.29	18.1
Depreciation and amortization		1.49	1.37	1.01	0.18	0.2
Stock-based compensation				16.9
Deferred income tax		-0.28	-0.58	-0.38	0.08	-0
Change in receivables		5.04	-0.96	-0.05	-0.1	-2.83
Change in inventory		-0.64	0.69	0.13
Cash from operations	-0.08	15.3	1.96	-6.41	4.08	2.48
Capital expenditures		-0.04	-0.16	-0.01	-0	-0
Purchases of investments		-15.7	-16.3	-2.6	-50.9	-133
Sales and maturities of investments		16	0.1
Cash from investing	-0	-6.48	2.76	-2.36	-17.3	-122
Cash from financing	-0.35	-3.85	-2.42	10.8	113	154
Exchange rate effect		0.68	-2.27	0.72	0.7	-7.14
Net change in cash	-0.43	5.62	0.03	2.75	100	27.5
Free cash flow		15.2	1.79	-6.42	4.07	2.48
Interest paid		0.02	0	0.02	0.11	0.11
Income taxes paid		0.68	0.19	0.03	0.01	0

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $3.12 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	25.8%	Gross profit / revenue.
Operating margin	5.3%	Operating income / revenue.
EBITDA margin	5.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	32.0%	Pre-tax income / revenue.
Net margin	30.2%	Net income / revenue.
FCF margin	4.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.1%	Cash from operations / revenue.
Effective tax rate	5.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.9%	Net income / average total assets.
Return on invested capital (ROIC)	3.9%	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	15.0%	Research and development expense / revenue.
SG&A / revenue	5.0%	Selling, general and administrative expense / revenue.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	0.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-20.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-11.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	-27.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	13.7%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	13.4%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	149.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	278.6%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-39.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-39.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	127.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	70.4%	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	98.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	69.4%	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	349.2%	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	-20.7%	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	627.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	22.5x	Current assets / current liabilities.
Quick ratio	22.1x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	21.7x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	4.4%	Total liabilities / total assets.
Working capital	$334.6M	Current assets - current liabilities.
Tangible book value	$330.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.
Fixed asset turnover	1,500x	Revenue / average property, plant and equipment.
Receivables turnover	12.6x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.
Days payables	26 days	365 x average accounts payable / cost of revenue.
FCF conversion	13.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.12	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	$2.12	Net income per basic share, as reported (split-adjusted).
Revenue per share	$7.84	Revenue / diluted weighted shares.
FCF per share	$0.32	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.32	Cash from operations / diluted weighted shares.
Book value per share	$43.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$43.12	Tangible book value / shares outstanding.
Cash per share	$43.97	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$38.8M	Share price x shares outstanding.
Enterprise value	-$298.0M	Market cap + total debt - cash - short-term investments.
P/E	2.14x	Market cap / net income. Only when net income is positive.
P/S	0.65x	Market cap / revenue.
P/B	0.12x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.12x	Market cap / tangible book value, when positive.
P/FCF	15.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.6x	Market cap / cash from operations, when positive.
FCF yield	6.4%	Free cash flow / market cap.
Earnings yield	46.8%	Net income / market cap (the inverse of P/E).

What was MicroAlgo Inc.'s revenue in fiscal 2025?

MicroAlgo Inc. reported revenue of $60.0M for fiscal 2025, 20.3% lower than the year before.

Was MicroAlgo Inc. profitable in fiscal 2025?

Yes. Net income was $18.1M, a net margin of 30.2%.

How much free cash flow did MicroAlgo Inc. generate in fiscal 2025?

Cash from operations of $2.5M minus capital expenditures of $1.2K left free cash flow of $2.5M.

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.

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