NetClass Technology Inc NTCL
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.60
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $9.8M | $10.1M | $11.1M | $9.3M | — |
| Cost of revenue | $7.6M | $7.8M | $8.7M | $6.2M | — |
| Gross profit | $2.2M | $2.3M | $2.4M | $3.0M | — |
| R&D | $1.7M | $2.5M | $567.8K | $828.3K | — |
| SG&A | $9.2M | $703.2K | $798.2K | $865.7K | — |
| Total operating expenses | $13.2M | $3.6M | $2.0M | $3.0M | — |
| Operating income | -$10.9M | -$1.3M | $386.7K | $48.4K | — |
| Pre-tax income | -$11.0M | -$1.3M | $419.6K | $64.2K | — |
| Income tax | $86.7K | $86.3K | $257.3K | $68.5K | — |
| Net income | -$10.8M | -$1.5M | $162.2K | $132.7K | — |
| EPS, basic | -0.60 | -0.09 | 0.01 | 0.01 | — |
| EPS, diluted | -0.60 | -0.09 | 0.01 | 0.01 | — |
| Shares, diluted (wtd. avg.) | 18.0M | 15.8M | 15.0M | 15.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $1.8M | $410.7K | $524.6K | $301.7K | $1.0M |
| Receivables | $5.6M | $5.3M | $2.3M | — | — |
| Inventory | $305.7K | $70.7K | — | — | — |
| Total current assets | $8.9M | $7.1M | $6.3M | — | — |
| Property, plant and equipment | $10.9K | $39.7K | $48.9K | — | — |
| Other intangibles | $1.1M | — | — | — | — |
| Total assets | $13.8M | $7.2M | $6.5M | — | — |
| Accounts payable | $1.9M | $2.9M | $1.2M | — | — |
| Short-term debt | $1.6M | — | — | — | — |
| Total current liabilities | $6.9M | $4.2M | $2.1M | — | — |
| Total liabilities | $7.8M | $4.2M | $2.1M | — | — |
| Retained earnings | -$12.5M | -$1.7M | -$164.8K | — | — |
| Total equity | $5.8M | $3.0M | $4.4M | $2.4M | $2.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$5.7M | -$135.6K | $391.9K | -$571.4K | — |
| Depreciation and amortisation | $279.6K | $10.8K | $96.1K | $118.6K | — |
| Stock-based compensation | $3.1M | — | — | — | — |
| Capital expenditure | $6.5K | — | — | — | — |
| Investing cash flow | -$2.3M | — | — | — | — |
| Financing cash flow | $9.4M | $10.9K | -$152.9K | -$125.6K | — |
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 0001104659-26-008806.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $9.3M | $11.1M | $10.1M | $9.8M |
| Gross profit | — | $3.0M | $2.4M | $2.3M | $2.2M |
| Net income | — | $132.7K | $162.2K | -$1.5M | -$10.8M |
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