Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data TNL Mediagene 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
FY2022
FY2024
FY2024
Revenue
20
35.8
48.5
Cost of revenue
12.3
23.2
30.8
Gross profit
7.74
12.7
17.7
Research and development
2.51
3.33
3.05
Selling, general and administrative
8.65
16.4
62
Operating income
-3.42
-7.4
-76.3
Interest expense
0.14
0.3
8.17
Interest income
0.01
0.02
0.02
Pre-tax income
-11.6
-1.81
-85.3
Income tax
-0.25
-0.59
-0.31
Net income to minority interests
-0.38
-0.41
0.03
Net income
-11
-0.8
-85
EBITDA
-4.56
-73.1
EPS, basic
-1.20
-0.04
-3.46
EPS, diluted
-1.20
-0.04
-3.46
Balance sheet
FY2022
FY2024
FY2024
Cash and equivalents
3.73
3.03
3.65
Receivables
8.85
8.24
Inventory
0.12
0.09
Total current assets
16.9
17.7
Property, plant and equipment
0.08
0.54
0.43
Lease right-of-use assets
6.14
5.18
Goodwill
60.7
34
Intangible assets
33.4
31
Total assets
120
92.9
Accounts payable
4.93
4.9
Short-term debt
5.25
1.08
Total current liabilities
24.9
33
Lease liabilities
5.01
4.11
Total liabilities
47.2
56.5
Total debt
5.49
9.03
Retained earnings
-32.2
-117
Shareholders' equity
72.6
36.4
Minority interests
-0.25
0
Total equity
-24.1
72.4
36.4
Total liabilities and equity
120
92.9
Cash flow statement
FY2022
FY2024
FY2024
Net income
-11.4
-1.22
-85
Depreciation and amortization
2.84
3.24
Cash from operations
-0.76
-1.42
-10.2
Capital expenditures
-0.05
-0.09
-0.09
Cash from investing
-2.36
0.25
0.92
Debt issued
1.01
1.4
1.86
Debt repaid
-1.01
-0.32
-4.32
Cash from financing
4.99
0.53
10
Exchange rate effect
-0.31
-0.06
-0.12
Net change in cash
1.55
-0.7
0.62
Free cash flow
-0.81
-1.51
-10.3
Interest paid
0.11
0.33
0.44
Income taxes paid
0.47
0.13
0.03
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $4.39 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
36.6%
Gross profit / revenue.
Operating margin
-157.4%
Operating income / revenue.
EBITDA margin
-150.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-175.9%
Pre-tax income / revenue.
Net margin
-175.3%
Net income / revenue.
FCF margin
-21.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-21.1%
Cash from operations / revenue.
Return on equity (ROE)
-155.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-80.0%
Net income / average total assets.
Return on invested capital (ROIC)
-103.2%
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
6.3%
Research and development expense / revenue.
SG&A / revenue
127.9%
Selling, general and administrative expense / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
6.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
35.3%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
40.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-49.9%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-22.3%
Total assets vs the same period a year earlier. Only from a positive base.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.54x
Current assets / current liabilities.
Quick ratio
0.36x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.25x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
9.7%
Total debt / total assets.
Liabilities / assets
60.8%
Total liabilities / total assets.
Net debt
$5.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$3.46
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
-$3.46
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$12.9M
Share price x shares outstanding.
Enterprise value
$18.3M
Market cap + total debt - cash - short-term investments.
P/S
0.27x
Market cap / revenue.
P/B
0.35x
Market cap / shareholders' equity. Only when equity is positive.
EV/Sales
0.38x
Enterprise value / revenue.
FCF yield
-80.1%
Free cash flow / market cap.
Earnings yield
-660.6%
Net income / market cap (the inverse of P/E).
What was TNL Mediagene's revenue in fiscal 2024?
TNL Mediagene reported revenue of $48.5M for fiscal 2024, 35.3% higher than the year before.
Was TNL Mediagene profitable in fiscal 2024?
No. It reported a net loss of $85.0M.
How much free cash flow did TNL Mediagene generate in fiscal 2024?
Cash from operations of $10.2M minus capital expenditures of $89.1K left free cash flow of -$10.3M.
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.