Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.8M | $46.6M | $57.1M | $58.1M | $38.4M | $47.3M | $26.2M | $30.6M | $15.4M | $4.61M |
| Revenue growth | — | 34.2% | 22.5% | 1.6% | -33.9% | 23.2% | -44.6% | 16.6% | -49.5% | -70.1% |
| Gross profit | $7.75M | $4.61M | $2.42M | $5.50M | $632K | $98.0K | -$194K | -$436K | $446K | $353K |
| Gross margin | 22.3% | 9.9% | 4.2% | 9.5% | 1.6% | 0.2% | -0.7% | -1.4% | 2.9% | 7.7% |
| Operating income | -$6.15M | -$9.40M | -$14.5M | -$1.69M | -$5.70M | -$13.6M | -$11.1M | -$6.01M | -$3.76M | -$1.95M |
| Operating margin | -17.7% | -20.2% | -25.4% | -2.9% | -14.8% | -28.7% | -42.4% | -19.7% | -24.3% | -42.3% |
| Net income | -$6.49M | -$10.1M | -$14.0M | -$1.26M | -$5.22M | -$2.75M | -$9.79M | -$5.97M | -$3.76M | -$1.77M |
| Net margin | -18.7% | -21.7% | -24.5% | -2.2% | -13.6% | -5.8% | -37.3% | -19.5% | -24.4% | -38.4% |
| EPS (diluted) | — | -$0.84 | -$0.88 | -$0.07 | -$0.24 | -$0.08 | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$563K | -$1.32M | -$5.39M | -$4.31M | $326K | -$8.84M | -$3.19M | -$2.01M | -$2.06M | -$929K |
| Capital expenditures | $148K | $4.00K | $11.0K | — | $0.00 | $334K | $0.00 | $81.0K | $3.00K | $65.0K |
| Free cash flow | -$711K | -$1.32M | -$5.40M | — | $326K | -$9.17M | -$3.19M | -$2.09M | -$2.06M | -$994K |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $3.04M | $2.95M | $3.74M | $1.60M | $4.30M | $7.17M | $4.39M | $817K | $812K | $970K |
| Total assets | $30.0M | $28.6M | $17.0M | $18.6M | $20.7M | $32.6M | $19.7M | $11.2M | $9.69M | $9.68M |
| Total liabilities | $7.75M | $13.1M | $9.17M | $7.14M | $8.19M | $10.9M | $7.36M | $4.98M | $5.97M | $5.28M |
| Shareholders' equity | $22.2M | $15.3M | $7.84M | $11.5M | $12.5M | $21.8M | $12.3M | $6.25M | $3.66M | $4.34M |
| Retained earnings | -$10.4M | -$20.5M | -$34.5M | -$35.8M | -$41.0M | -$43.7M | -$53.5M | -$59.7M | -$63.5M | -$65.2M |
| Shares (wtd avg diluted) | 11.4M | 12.1M | 16.4M | 19.6M | 26.1M | 6.62M | 7.14M | 1.92M | 2.02M | 2.66M |
Every figure is extracted from ZW Data Action Technologies Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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