MicroAlgo Inc. MLGO
MicroAlgo Inc. ("MicroAlgo" or the "Company") (f/k/a Venus Acquisition Corporation ("Venus")), a Cayman Islands exempted company, entered into the Business Combination and Merger Agreement dated June 10, 2021 (as amended on January 24, 2022, August 2, 2022, August 3, 2022 and August 10, 2022, the "Merger Agreement"), by and among WiMi Hologram Cloud Inc. ("WiMi" or the "Majority Shareholder"), Venus, Venus Merger Sub Corporation ("Venus Merger Sub"), a Cayman Islands exempted company incorporated for the purpose of effectuating the Business Combination (as defined herein), and VIYI Algorithm Inc. ("VIYI"), a Cayman Islands exempted company.
Pursuant to the terms of the Merger Agreement, the Company effected a business combination with VIYI through the merger of Merger Sub with and into VIYI, with VIYI surviving as the surviving company and as our wholly-owned subsidiary. In connection with the closing of the Business Combination, the Company changed its name to MicroAlgo Inc.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $60.0M | $75.3M | $81.9M | $87.1M | $82.0M | — | — |
| Cost of revenue | $44.6M | $53.9M | $57.3M | $68.2M | $48.9M | — | — |
| Gross profit | $15.5M | $21.4M | $24.6M | $19.0M | $33.1M | -$117.8K | — |
| R&D | $9.0M | $15.5M | $22.8M | $13.9M | $16.6M | — | — |
| SG&A | $3.0M | $2.7M | $3.5M | $5.1M | $5.3M | — | — |
| Total operating expenses | $12.3M | $18.6M | $59.2M | $26.8M | $25.1M | $117.8K | — |
| Operating income | $3.2M | $2.8M | -$34.6M | -$7.9M | $8.0M | — | — |
| Interest expense | $235.6K | $3.7M | $548.3K | $266.1K | $292.2K | — | — |
| Pre-tax income | $19.2M | $8.1M | -$37.9M | -$7.5M | $8.6M | -$117.8K | — |
| Income tax | $1.0M | $853.9K | $353.0K | $564.8K | $84.8K | — | — |
| Net income | $18.1M | $7.3M | -$37.6M | -$6.6M | $8.6M | -$117.8K | — |
| EPS, basic | 2.12 | 1.46 | -8.30 | — | — | — | — |
| EPS, diluted | 2.12 | 0.56 | -8.30 | — | — | — | — |
| Shares, diluted (wtd. avg.) | $7.7M | $9.7M | $22.8K | $19.9K | $4.0M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $174.8M | $147.4M | $44.1M | $42.0M | $42.7M | $37.1M | $428.3K |
| Short-term investments | $161.9M | $20.8M | $2.6M | $0 | $0 | — | — |
| Receivables | $6.2M | $3.3M | $3.2M | $2.6M | $2.8M | — | — |
| Inventory | — | — | — | $130.5K | $823.6K | — | — |
| Total current assets | $350.1M | $175.9M | $57.6M | $55.2M | $54.0M | $76.3K | — |
| Property, plant and equipment | $18.1K | $62.0K | $105.9K | $145.3K | $73.5K | — | — |
| Goodwill | — | — | — | $15.3M | $21.9M | $22.5M | — |
| Other intangibles | — | — | — | $964.3K | $4.4M | — | — |
| Total assets | $350.3M | $176.3M | $58.0M | $72.1M | $81.6M | $191.5K | — |
| Accounts payable | $3.9M | $2.6M | $3.0M | $2.0M | $2.1M | — | — |
| Total current liabilities | $15.5M | $28.8M | $12.0M | $4.8M | $22.0M | $295.2K | — |
| Total liabilities | $15.6M | $28.9M | $12.0M | $5.1M | $23.0M | $295.2K | — |
| Retained earnings | $11.4M | -$4.7M | -$10.9M | $19.1M | $26.5M | -$128.7K | — |
| Total equity | $330.3M | $144.9M | $45.4M | $65.9M | $52.8M | $49.0M | $14.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.5M | $4.1M | -$6.4M | $2.0M | $15.3M | -$77.8K | — |
| Depreciation and amortisation | $46.4K | $46.1K | $127.0K | $1.4M | $1.5M | — | — |
| Stock-based compensation | — | — | $16.9M | — | — | — | — |
| Capital expenditure | $1.2K | $4.0K | $10.2K | $160.9K | $36.0K | — | — |
| Investing cash flow | -$121.8M | -$17.3M | -$2.4M | $2.8M | -$6.5M | -$55 | — |
| Financing cash flow | $153.9M | $112.5M | $10.8M | -$2.4M | -$3.8M | -$350.2K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001829126-26-002991.
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