NXTT
Next Technology Holding Inc.
Next earnings Aug 6, 2026
$1.30
▲ +14.04%$1.30▼ -99.68%
over 1Y
L $1.00H $580.00
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+14.0%
1W+9.2%
1M-13.3%
3M-35.3%
YTD-80.8%
1Y-99.7%
Avoid
Conviction
Horizon
Long (>12mo)
A cash-burning micro-cap whose $143M 'profit' is non-cash Bitcoin gains, wrapped in board chaos and a 200:1 reverse split — uninvestable.
Net income (FY2025) $143M · FY2025
The read
Weak on both the fundamentals and the price — little to like at the current level.
NXTT looks profitable only on the headline: FY2025 net income of $143M is manufactured almost entirely by $279.7M of 'Other income' (Bitcoin held-for-trading gains), not by the business. Strip that out and the operating business lost $80.2M — General & administrative expense alone was $66.7M against just $11.6M of revenue, and gross profit was a thin $1.76M (15.1% gross margin). The cash statement confirms the earnings are fictional as a yardstick of quality: operating cash flow was NEGATIVE $3.07M and the company holds only $5.62M of actual cash. A 'net margin' of 1,232% and a stale P/E of 114 (computed off a FY2020 diluted EPS of $0.01) are artifacts of bad/erratic data, not signal — the revenue line itself swings wildly ($14.4M in 2021, $1.8M in 2024, $11.6M in 2025) with no durable trajectory.
The filing language compounds the concern. This is a Wyoming-incorporated shell-turned-Bitcoin-treasury that 'currently pursue[s] two corporate strategies' — software services and accumulating Bitcoin 'with...liquid assets that exceed working capital requirements...issuing debt or equity securities,' i.e. an open-ended dilution mandate with 'no specific target.' On September 16, 2025 the company executed a 200-for-1 reverse stock split (shares outstanding down 82.5% to 76.3M) — the classic fingerprint of a sub-dollar stock fighting delisting. Governance is in open turnover: Chairman Lichen Dong resigned December 10, 2025, and at the March 9, 2026 annual meeting the entire board was replaced (Wenbo Li, Guang Cui, Gwanggeun Jo, Hsiu Wu). The PRC subsidiary was dissolved and Bitcoin sits with offshore Japanese custodians — the filing itself warns these 'trading venues may experience greater fraud, security failures or...operational problems.'
Is NXTT a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 1.5 @ ~0.38 est
- Short put 1 @ ~0.11 est
debit $27max +$23max −$27BE 1.23
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $14.4M | $11.7M | — | $1.80M | $11.6M |
| Gross profit | $11.7M | $1.98M | $1.43M | $1.07M | $1.76M |
| Operating income | $5.99M | -$9.87M | -$1.24M | -$16.8K | -$80.2M |
| Net income | $5.18M | -$9.15M | — | $21.5M | $143M |
| Diluted EPS | — | — | — | — | — |
| Net margin | 36.0% | -78.4% | — | 1196.8% | 1232.6% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$93.5M
EV / EBITDA—
EV / Sales8.1
EV / FCF—
P / FCF—
PEG (trailing)0.23
Earnings yield144.4%
FCF yield-3.8%
Quality & risk
ROIC (est.)-13.9%
Free cash flow-$3.77M
Total debt—
Net cash$5.62M
Altman Z-Score1.98 grey
Piotroski F-Score5/8
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY-82.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 10-Q Quarterly report2026-04-29
Q1 FY26 results; dual software + Bitcoin-treasury strategy continues
- 10-K Annual report2026-03-31
FY25 net income $143M from BTC/other gains, but $80M operating loss
- 8-K Reg FD disclosure2026-03-27
Reg FD disclosure/press release; investor update, no change to operating fundamentals
- 8-K Material agreement2026-03-25
Entered new material agreement plus other-event disclosure (likely financing/BTC)
- 8-K Officer / director change2026-03-12
Mar 9 annual meeting: new board elected (Li, Cui, Jo, Wu); officer change
- DEF 14A Proxy statement2026-02-09
DEF 14A proxy: board election and routine governance for annual meeting
- 8-K Auditor change2026-01-23
Changed certifying accountant (auditor switch) — governance red flag
- 8-K Officer / director change2025-12-15
Chairman Lichen Dong resigned from board and all committees
- 8-K Material agreement2025-11-26
Entered a material definitive agreement
Recent filings
all on EDGAR ↗10-QPeriod ending 2026-03-312026-04-29open ↗10-KPeriod ending 2025-12-312026-03-31open ↗8-KPeriod ending 2026-03-262026-03-27open ↗8-KPeriod ending 2026-03-252026-03-25open ↗424B5Filing2026-03-25open ↗8-KPeriod ending 2026-03-122026-03-12open ↗DEF 14APeriod ending 2026-03-092026-02-09open ↗PRER14AFiling2026-01-27open ↗8-KPeriod ending 2026-01-232026-01-23open ↗PRE 14APeriod ending 2025-12-232025-12-23open ↗8-KPeriod ending 2025-12-122025-12-15open ↗DEF 14CPeriod ending 2025-12-012025-12-02open ↗
Frequently asked
- Is Next Technology Holding Inc. (NXTT) a buy?
- NXTT currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. A cash-burning micro-cap whose $143M 'profit' is non-cash Bitcoin gains, wrapped in board chaos and a 200:1 reverse split — uninvestable.
- What is NXTT's fair value?
- A Modified-Graham model based on NXTT's SEC fundamentals estimates a fair value of about $0.38. It is an estimate from reported earnings, not a price target.
- Is NXTT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NXTT currently appears overvalued relative to its SEC-grounded earnings power.
- What is Next Technology Holding Inc.'s quality score?
- NXTT scores 64.04403690573585/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001784970, latest 10-Q filed 2026-04-29) · EODHD · Proprietary analysis · as of 6/30/2026, 12:17:00 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 8:17 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.