Next Technology Holding Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Next Technology Holding 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

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue		6.27	14.4	11.7	2.63	1.8	11.6
Cost of revenue		0.62	2.68	9.7	1.07	0.73	9.86
Gross profit		5.66	11.7	1.98	1.43	1.07	1.76
Research and development							14.5
Selling and marketing							0.75
General and administrative	0.42	1.9	5.71	6.79	2.67	1.09	66.7
Operating expenses	0.42				2.67	1.09	82
Operating income		3.75	5.99	-6.79	-1.24	-0.02	-80.2
Other non-operating income						43.2	280
Pre-tax income	-0.42	3.84	6.3	-6.79	3.15	29.8	200
Income tax		1.16	1.12	-0.08	0.13	8.23	56.4
Income from continuing operations				-6.79	3.02	21.5	143
Net income	-0.42	2.68	5.18	-9.16	-9.92	21.5	143
EBITDA		3.75	6.02	-6.53
EPS, basic	0.00	1.40	2.80	-5.60	1.90
EPS, diluted	0.00	1.40	2.80	-5.60	2.10
Shares, basic (weighted)	2.14	2.17	2.18	1.21	1.54	0.03	2.32
Shares, diluted (weighted)	2.14	2.17	2.18	1.21	1.54	0.03	2.32

Balance sheet

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	6.59	4.64	0.62	0.02	0.67	0.67	5.62
Receivables	0	2.61	5.63	6.17	1	1.8	0.35
Other current assets	0	0	0	0.05	12.1	12.1	2
Total current assets	6.59	10.4	16.4	46.5	48.9	92.9	524
Property, plant and equipment		0	0.4	0.92
Lease right-of-use assets	0	2.81	2.33	0
Intangible assets	0	0.05	0.04	0.02
Total assets	6.59	13.5	19.5	46.5	48.9	92.9	524
Accounts payable	0	0.01	0.01	0.14	0.8	0.73	0.75
Accrued liabilities	-0.03	0.26	0.22	0.3
Short-term debt				0.02			2.04
Total current liabilities	1.79	2.18	3	4.82	4.22	3.05	3.94
Lease liabilities	0	2.47	1.94	0
Total liabilities	1.79	4.65	4.94	4.82	4.22	11.3	68.6
Paid-in capital	0.22	6.06	6.2	43.7	56.3	71.7	303
Retained earnings	-0.42	2.26	7.43	-1.71	-11.6	9.91	152
Other comprehensive income	0	0.58	0.9	-0.31	-0
Shareholders' equity	4.8	8.89	14.5	41.7	44.7	81.6	456
Total equity	4.8	8.89	14.5	41.7	44.7	81.6	456
Total liabilities and equity	6.59	13.5	19.5	46.5	48.9	92.9	524
Shares outstanding	2.14	2.18	2.18	1.05	2.63	0.03	4.88

Cash flow statement

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-0.42	2.68	5.18	-9.16	-9.92	21.5	143
Depreciation and amortization		0	0.02	0.26
Stock-based compensation							76.8
Deferred income tax						8.23	56.4
Change in receivables			2.91	1.2	-1	-0.8	1.45
Change in payables		0.01	-0	0.14	0.8	-0.07
Cash from operations		1.16	-3.75	-37.8	20.2		-3.07
Capital expenditures		0	-0.42	-0.69
Cash from investing		0	-1.03	0.49	-32.6
Stock issued		0.84	0	39.3	12.6		8.03
Cash from financing		-3.68	0.69	39.5	13.1		8.03
Exchange rate effect		0.57	0.07	-2.32	0.31
Net change in cash		-1.95	-4.02	-0.59	0.65		4.96
Free cash flow		1.16	-4.17	-38.5
Interest paid		0	0	0
Income taxes paid		1.16	0.48	0			0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.31 on November 11, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	16.9%	Gross profit / revenue.
Operating margin	-703.8%	Operating income / revenue.
Pre-tax margin	-2,875.0%	Pre-tax income / revenue.
Net margin	-2,356.0%	Net income / revenue.
Return on equity (ROE)	-62.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-59.4%	Net income / average total assets.
Return on invested capital (ROIC)	-22.0%	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%.
Stock-based pay / revenue	659.3%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	545.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	64.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-3.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-20.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	564.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	121.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	458.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	121.9%	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	119.7%	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	464.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	124.2%	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	107.8%	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	7,926.0%	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	24.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	176x	Current assets / current liabilities.
Quick ratio	54.5x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	54.5x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	5.3%	Total liabilities / total assets.
Working capital	$509.4M	Current assets - current liabilities.
Tangible book value	$485.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.03x	Revenue / average total assets.
Receivables turnover	101x	Revenue / average receivables.
Days sales outstanding	4 days	365 x average receivables / revenue.
Days payables	44 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.07	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.
Revenue per share	$0.09	Revenue / diluted weighted shares.
Book value per share	$3.30	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.30	Tangible book value / shares outstanding.
Cash per share	$1.08	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$7.8M	Share price x shares outstanding.
Enterprise value	-$151.2M	Market cap + total debt - cash - short-term investments.
P/S	0.61x	Market cap / revenue.
P/B	0.02x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.02x	Market cap / tangible book value, when positive.
Earnings yield	-3,892.0%	Net income / market cap (the inverse of P/E).

What was Next Technology Holding Inc.'s revenue in fiscal 2025?

Next Technology Holding Inc. reported revenue of $11.6M for fiscal 2025, 545.3% higher than the year before.

Was Next Technology Holding Inc. profitable in fiscal 2025?

Yes. Net income was $143.2M, a net margin of 1,232.6%.

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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