Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data NaaS Technology 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
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
149
185
220
147
13.5
45.1
27.5
Cost of revenue
69.5
83.9
99.8
92.4
12.6
32.6
15.4
Gross profit
79.5
101
120
54.5
0.89
12.5
12.1
Research and development
5.3
8.88
5.76
Selling and marketing
27.4
35.7
44.1
35.8
General and administrative
52.2
35.2
43.8
39.9
4.71
318
94.3
51.3
Operating expenses
79.6
70.9
87.9
75.7
4.71
Operating income
-0.1
30.2
32
-21.2
-4.71
-357
-150
-111
Interest expense
4.09
4.92
4.9
3.62
Interest income
3.01
3.84
2.58
2.31
0
Other non-operating income
1.01
2.24
1.45
4.13
Pre-tax income
-0.1
31.2
30.9
-24.1
39.1
-816
-184
-128
Income tax
8.13
10.4
10.2
-2.41
1.43
0.53
-2.62
Income from continuing operations
39.1
-124
Net income to minority interests
-0.87
-0.08
-0.51
-1.38
1.52
Net income
-7.37
20.8
21.3
-20.3
-39
-817
-184
-125
EBITDA
7.54
38.7
42.1
-8.3
EPS, basic
-0.07
0.18
0.19
-0.18
-0.34
-0.42
-0.08
-0.05
EPS, diluted
-0.07
0.18
0.18
-0.18
-0.34
-0.42
-0.08
-0.05
Shares, basic (weighted)
102
114
113
113
113
Shares, diluted (weighted)
102
116
114
113
113
Balance sheet
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
162
187
143
85
2.52
72.3
61.4
17.3
Receivables
0.38
0.36
0.25
0.35
Inventory
1.22
1.65
1.25
1.2
3.16
Other current assets
6.24
10.4
7.39
14.5
2.27
Total current assets
176
204
156
114
4.81
135
161
60.2
Property, plant and equipment
15.4
18.7
19.7
16.5
0.38
0.62
0.36
Lease right-of-use assets
87.7
98
2.47
1.98
0.66
Goodwill
73.1
71.6
95.6
101
5.65
Intangible assets
30.8
28.8
30.2
28.5
0.12
1.88
0.32
Long-term investments
4.74
Other non-current assets
5.37
7.76
7.13
8.56
Total assets
301
332
402
372
4.81
160
206
89.1
Accounts payable
0.93
1.23
1.09
1.69
1.35
Accrued liabilities
6.39
7.89
29.1
25.2
1.35
Deferred revenue
140
101
84.4
Short-term debt
0
12
19.3
34.8
Total current liabilities
158
186
177
179
1.35
27.9
115
185
Long-term debt
95.8
73.1
53.2
29.3
Lease liabilities
66.7
69.3
1.35
0.98
0.45
Other non-current liabilities
0.41
1.18
5.62
7.73
0.45
Total liabilities
255
268
313
295
18.8
96.7
212
192
Total debt
10
22
35.8
45
Paid-in capital
81.8
87.3
83.8
92.4
43
Retained earnings
-48.5
-36.2
-18.3
-39.9
-63.3
-874
-1,034
-1,130
Treasury stock
-3.41
Other comprehensive income
6.15
6.18
5.88
6.08
5.18
Shareholders' equity
47.7
66.3
87.5
75.9
-14
Minority interests
-2.21
-2.17
2.21
0.98
0.48
0.04
Total equity
45.5
64.1
89.7
76.9
-14
63.6
-6.14
-103
Total liabilities and equity
301
332
402
372
4.81
160
206
89.1
Shares outstanding
110
114
113
113
113
Cash flow statement
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Net income
-8.24
20.7
20.8
-21.7
-40.5
-817
-184
-125
Depreciation and amortization
7.64
8.47
10.1
12.9
Stock-based compensation
14.6
2.71
6.88
2.76
Deferred income tax
0.18
0.98
0.93
-4.77
Change in receivables
-0.26
0.02
0.1
-0.1
Change in inventory
-0.37
-0.5
0.45
0.13
Change in payables
0.3
0.35
-0.13
0.53
Cash from operations
53.1
55.3
-5.73
-31.5
-84.7
-84.2
-79.6
-24.5
Capital expenditures
-7.74
-9.48
-7.3
-3.66
-2.48
Acquisitions
-1.3
-0.36
-0.46
Purchases of investments
-59.9
-58.9
-43.1
-169
Sales and maturities of investments
59.9
58.9
43.1
169
Cash from investing
-8.16
-14.7
-16.5
-17.1
-5.9
-23.4
-47.8
-27.6
Debt issued
88.1
73
53.6
Debt repaid
-10
-22
-19.6
-20.3
-21.4
Stock issued
5.82
0.67
0.3
0.13
30.8
21
Share buybacks
-3.11
-6.9
Dividends paid
-87.9
Cash from financing
19.8
-8.34
-20.2
-9.3
-6.14
181
117
9.76
Exchange rate effect
-0.8
1.46
0.19
-0.84
-1.04
Net change in cash
63.9
33.7
-42.2
-58.8
-97.8
73.2
-10.9
-42.4
Free cash flow
45.3
45.8
-13
-35.2
-86.7
Interest paid
3.15
3.88
3.93
2.47
Income taxes paid
-8.21
-8.05
-9.64
-2.14
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $3.26 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
44.1%
Gross profit / revenue.
Operating margin
-401.5%
Operating income / revenue.
Pre-tax margin
-463.9%
Pre-tax income / revenue.
Net margin
-454.5%
Net income / revenue.
Operating cash flow margin
-89.1%
Cash from operations / revenue.
Return on assets (ROA)
-84.7%
Net income / average total assets.
R&D / revenue
20.9%
Research and development expense / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-38.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 5y
-34.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-3.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 5y
-36.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-56.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
164.6%
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
-26.0%
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
0.33x
Current assets / current liabilities.
Quick ratio
0.09x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.09x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
215.9%
Total liabilities / total assets.
Working capital
-$124.8M
Current assets - current liabilities.
Goodwill and intangibles / assets
0.4%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.19x
Revenue / average total assets.
Fixed asset turnover
56.6x
Revenue / average property, plant and equipment.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.05
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
-$0.05
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$55.6M
Share price x shares outstanding.
Enterprise value
$38.3M
Market cap + total debt - cash - short-term investments.
P/S
2.02x
Market cap / revenue.
EV/Sales
1.39x
Enterprise value / revenue.
Earnings yield
-225.1%
Net income / market cap (the inverse of P/E).
What was NaaS Technology Inc.'s revenue in fiscal 2024?
NaaS Technology Inc. reported revenue of $27.5M for fiscal 2024, 38.9% lower than the year before.
Was NaaS Technology Inc. profitable in fiscal 2024?
No. It reported a net loss of $125.1M.
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.