Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Northann Corp. 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
FY2023
FY2023
FY2024
Revenue
21
14
15.3
Cost of revenue
15.2
12.7
11.4
Gross profit
5.75
1.21
3.98
Research and development
1.47
1.9
0.78
General and administrative
1.16
2.92
3.8
Operating expenses
3.68
5.98
5.65
Operating income
2.08
-4.76
-1.67
Interest expense
0.37
1.71
0.47
Other non-operating income
-1.02
-2.35
-2.7
Pre-tax income
1.06
-7.12
-4.38
Income tax
0.13
0.01
0
Net income
0.93
-7.13
-4.38
EBITDA
2.68
-4.08
-1.03
EPS, basic
0.05
-0.35
-0.17
EPS, diluted
0.05
-0.35
-0.17
Shares, basic (weighted)
20
20.3
26.3
Shares, diluted (weighted)
20.4
20.3
26.3
Balance sheet
FY2023
FY2023
FY2024
Cash and equivalents
0.25
1.11
0.25
Receivables
1.43
2.62
3.11
Inventory
4.56
2.65
2
Other current assets
0.11
0.13
0.07
Total current assets
6.59
6.8
5.91
Property, plant and equipment
5.53
4.72
3.89
Lease right-of-use assets
0.02
0.09
1.82
Intangible assets
1.07
1.03
0.98
Total assets
14.4
13.6
13.9
Short-term debt
5.49
5.69
4.7
Total current liabilities
12
12.9
9.67
Lease liabilities
0.06
1.47
Total liabilities
12.4
13
11.3
Paid-in capital
0.93
6.67
15.5
Retained earnings
1.82
-5.31
-9.69
Other comprehensive income
-0.77
-0.78
1.05
Shareholders' equity
1.97
0.58
2.6
Total equity
1.97
0.58
2.6
Total liabilities and equity
14.4
13.6
13.9
Shares outstanding
20
21.4
55.5
Cash flow statement
FY2023
FY2023
FY2024
Net income
0.93
-7.13
-4.38
Depreciation and amortization
0.6
0.68
0.65
Stock-based compensation
0
2.04
Deferred income tax
0
0
Change in receivables
-0.17
-1.19
-0.49
Change in inventory
-1.7
1.92
0.65
Change in payables
-1.48
-2.38
-0.04
Cash from operations
-3.43
-4.68
-1.23
Cash from investing
-0.15
0
-0.3
Stock issued
5.97
Cash from financing
2.56
5.38
-1.19
Exchange rate effect
0.52
0.15
1.86
Net change in cash
-0.5
0.85
-0.86
Interest paid
0.29
0.26
0.25
Income taxes paid
0.11
0.29
0.12
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. No valuation: we have no share price for this company.
Profitability
Metric
Value
How it is calculated
Gross margin
25.9%
Gross profit / revenue.
Operating margin
-10.9%
Operating income / revenue.
EBITDA margin
-6.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-28.5%
Pre-tax income / revenue.
Net margin
-28.5%
Net income / revenue.
Operating cash flow margin
-8.0%
Cash from operations / revenue.
Return on equity (ROE)
-275.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-31.9%
Net income / average total assets.
Return on invested capital (ROIC)
-144.4%
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
5.1%
Research and development expense / revenue.
Stock-based pay / revenue
13.3%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
4.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
9.9%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
227.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
346.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
1.9%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
29.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.61x
Current assets / current liabilities.
Quick ratio
0.35x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.03x
(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
-$0.17
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.58
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.05
Cash from operations / diluted weighted shares.
Book value per share
$0.05
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Northann Corp. reported revenue of $15.3M for fiscal 2024, 9.9% higher than the year before.
Was Northann Corp. profitable in fiscal 2024?
No. It reported a net loss of $4.4M.
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.