ZW Data Action Technologies Inc. (CNET) Financials

CNET

Trailing 12 months to June 30, 2026

Revenue $3.4M -55.1% YoY

Net Income -$826K +78.6% YoY

Free Cash Flow -$1.0M +26.0% YoY

Operating Cash Flow -$1.0M +22.4% YoY

Market Cap $4.5M as of Sep 12, 2026

Price / Sales 1.3x on $3.4M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 1.1x on $4.1M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 14, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CNET SEC filings page.

ZW Data Action Technologies Inc. (CNET) reported $3.4M in revenue over the twelve months to Jun 30, 2026, down 55.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CNET FY2025 2026-08-29

Revenue compression has exposed a fixed-cost-heavy model: better gross margins still leave operating losses and recurring financing support.

From FY2024 to FY2025, revenue fell from $15.4M to $4.6M while gross margin widened from 2.9% to 7.7%; that is margin improvement without enough scale to absorb the cost base. SG&A remained disproportionate at $2.3M against the smaller sales base, and operating margin reached -42.3%, showing that improved gross economics did not translate into operating leverage.

The FY2025 net loss of $1.8M exceeded the operating cash use of $929K, suggesting noncash charges and working-capital movements softened cash consumption. FCF of $994K nearly matched operating cash use because capex was only $65K, indicating an asset-light model rather than heavy reinvestment.

Liabilities fell from $6.0M to $5.3M while assets held near their prior level, so balance-sheet shrinkage was milder than the revenue collapse. The current ratio ended at 1.5x, while reported liquidity equaled 27 months of the latest annual operating outflow; short-term coverage remained positive but was less buffered than in FY2024.

Financial Health Signals

Financial Health Score 31/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of ZW Data Action Technologies Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

ZW Data Action Technologies Inc. held $2.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $929K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and ZW Data Action Technologies Inc. scores 52/100 among other emerging companies.

Dilution

ZW Data Action Technologies Inc. had 3M shares outstanding at the end of fiscal year 2025, against 2M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and ZW Data Action Technologies Inc. scores 21/100 among other emerging companies.

R&D Intensity

ZW Data Action Technologies Inc. reported no research and development spending in fiscal year 2025. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and ZW Data Action Technologies Inc. scores 1/100 among other emerging companies.

Revenue Progress

ZW Data Action Technologies Inc. reported revenue of $4.6M in fiscal year 2025, against $15.4M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and ZW Data Action Technologies Inc. scores 2/100 among other emerging companies.

Burn Trend

ZW Data Action Technologies Inc.'s operations used $929K of cash in fiscal year 2025, against $2.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and ZW Data Action Technologies Inc. scores 72/100 among other emerging companies.

Balance Sheet

ZW Data Action Technologies Inc.'s cash, cash equivalents and investments came to $2.1M at the end of fiscal year 2025, against $5.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and ZW Data Action Technologies Inc. scores 39/100 among other emerging companies.

Altman Z-Score Distress

-8.80

ZW Data Action Technologies Inc. scores -8.80, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.5M) relative to total liabilities ($5.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/8

ZW Data Action Technologies Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

ZW Data Action Technologies Inc. reported a net loss of $1.8M while operations used $929K of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$652K

YoY+19.0%

QoQ+70.2%

5Y CAGR-46.3%

10Y CAGR-22.6%

ZW Data Action Technologies Inc. generated $652K in revenue in Q2 2026. This represents an increase of 19.0% from the same quarter a year earlier. Against the prior quarter it is up 70.2%.

EBITDA

-$311K

YoY+49.2%

QoQ-314.5%

ZW Data Action Technologies Inc.'s EBITDA was -$311K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.2% from the same quarter a year earlier. Against the prior quarter it is down 314.5%.

Net Income

-$350K

YoY+45.1%

QoQ-377.8%

ZW Data Action Technologies Inc. reported -$350K in net income in Q2 2026. This represents an increase of 45.1% from the same quarter a year earlier. Against the prior quarter it is down 377.8%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$108K

YoY-116.4%

QoQ+63.0%

ZW Data Action Technologies Inc. recorded an outflow of $108K in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 116.4% from the same quarter a year earlier. Against the prior quarter it is up 63.0%.

Cash & Debt

$611K

YoY-64.2%

QoQ-15.1%

5Y CAGR-44.6%

10Y CAGR-14.4%

ZW Data Action Technologies Inc. held $611K in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

YoY+37.9%

QoQ+12.2%

ZW Data Action Technologies Inc. had 4M shares outstanding in Q2 2026. This represents an increase of 37.9% from the same quarter a year earlier. Against the prior quarter it is up 12.2%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

7.2%

YoY-1.4pp

QoQ+0.2pp

5Y change+8.7pp

10Y change-22.4pp

ZW Data Action Technologies Inc.'s gross margin was 7.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.

Operating Margin

-58.4%

QoQ-79.1pp

5Y change-1.5pp

10Y change-46.7pp

ZW Data Action Technologies Inc.'s operating margin was -58.4% in Q2 2026, reflecting core business profitability. Against the prior quarter it is down 79.1 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

-53.7%

QoQ-86.6pp

5Y change-28.6pp

10Y change-38.5pp

ZW Data Action Technologies Inc.'s net profit margin was -53.7% in Q2 2026, showing the share of revenue converted to profit. Against the prior quarter it is down 86.6 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

-8.5%

YoY+9.6pp

QoQ-11.4pp

5Y change+8.5pp

10Y change-3.5pp

ZW Data Action Technologies Inc.'s ROE was -8.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 9.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.4 percentage points.

Capital Allocation

R&D Spending

$13K

ZW Data Action Technologies Inc. invested $13K in research and development in Q2 2026.

Capital Expenditures

YoY-100.0%

ZW Data Action Technologies Inc. reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Share Buybacks

Not reported for Q2 2026.

CNET Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CNET quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.4M	$4.6M-70.1%	$15.4M-49.5%	$30.6M+16.6%	$26.2M-44.6%	$47.3M+23.2%	$38.4M-33.9%	$58.1M+1.6%	$57.1M+22.5%	$46.6M+34.2%	$34.8M+7.7%	$32.3M-14.2%	$37.6M+25.7%	$29.9M-35.5%	$46.4M+65.1%	$28.1M
Cost of Revenue	$3.2M	$4.3M-71.6%	$15.0M-51.7%	$31.0M+17.4%	$26.4M-44.0%	$47.2M+25.0%	$37.8M-28.2%	$52.6M-3.9%	$54.7M+30.2%	$42.0M	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$220K	$353K-20.9%	$446K+202.3%	-$436K-124.7%	-$194K-298.0%	$98K-84.5%	$632K-88.5%	$5.5M+127.4%	$2.4M-47.6%	$4.6M-40.5%	$7.8M+1.9%	$7.6M+20.9%	$6.3M-54.2%	$13.7M-8.7%	$15.0M-9.9%	$16.7M
R&D Expenses	N/A	$0	$0-100.0%	$17K-92.6%	$229K-29.8%	$326K-39.5%	$539K-38.0%	$869K-6.9%	$933K-26.0%	$1.3M-36.8%	$2.0M-7.8%	$2.2M-18.6%	$2.7M+33.3%	$2.0M+9.7%	$1.8M-14.7%	$2.1M
SG&A Expenses	N/A	$2.3M-42.3%	$4.0M-1.6%	$4.1M-51.1%	$8.3M-34.3%	$12.6M+132.5%	$5.4M-6.0%	$5.8M+5.3%	$5.5M-26.5%	$7.5M-2.7%	$7.7M+2.3%	$7.5M+29.7%	$5.8M-24.8%	$7.7M+27.5%	$6.0M-23.7%	$7.9M
Operating Income	-$994K	-$2.0M+48.0%	-$3.8M+37.5%	-$6.0M+45.9%	-$11.1M+18.2%	-$13.6M-138.4%	-$5.7M-237.7%	-$1.7M+88.4%	-$14.5M-54.4%	-$9.4M-52.9%	-$6.1M+34.0%	-$9.3M+28.3%	-$13.0M-2222.2%	$612K-86.4%	$4.5M+42.6%	$3.2M
EBITDA	N/A	-$1.7M+38.9%	-$2.8M+40.3%	-$4.7M+46.9%	-$8.9M+31.3%	-$13.0M-167.5%	-$4.8M-219.2%	-$1.5M+89.1%	-$14.0M-75.2%	-$8.0M-74.3%	-$4.6M+39.4%	-$7.5M+34.7%	-$11.6M-618.2%	$2.2M-63.7%	$6.1M+47.3%	$4.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$35K-5.4%	$37K-65.4%	$107K+723.1%	$13K-72.3%	$47K-9.6%	$52K+100.0%	$26K	N/A	N/A
Income Tax	-$6K	$1K-99.7%	$399K+20050.0%	-$2K+33.3%	-$3K-101.7%	$177K+23.8%	$143K+191.8%	$49K-93.6%	$764K+204.4%	$251K+146.1%	$102K+106.8%	-$1.5M-213.0%	-$478K-158.6%	$816K+54.3%	$529K-48.9%	$1.0M
Net Income	-$826K	-$1.8M+52.9%	-$3.8M+37.0%	-$6.0M+39.0%	-$9.8M-255.5%	-$2.8M+47.2%	-$5.2M-313.6%	-$1.3M+91.0%	-$14.0M-38.5%	-$10.1M-56.0%	-$6.5M+28.6%	-$9.1M+33.8%	-$13.7M-5770.9%	-$234K-107.8%	$3.0M0.0%	$3.0M
EPS (Basic)	N/A	-$0.67+64.0%	-$1.86+40.2%	-$3.11-127.0%	-$1.37-226.2%	-$0.42	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$0.01-107.1%	$0.140.0%	$0.14
EPS (Diluted)	—	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$0.01-107.1%	$0.140.0%	$0.14
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	27M+19.4%	22M+0.6%	22M+0.4%	22M+18.3%	19M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-K
Revenue	$652K+19.0%	$383K-76.8%	$697K-69.0%	$1.7M-47.0%	$548K-91.5%	$1.7M-53.2%	$2.2M-57.3%	$3.2M-64.7%
Cost of Revenue	$605K+20.8%	$356K-76.1%	$649K-71.3%	$1.6M-49.2%	$501K-91.8%	$1.5M-56.9%	$2.3M-57.2%	$3.2M-65.3%
Gross Profit	$47K0.0%	$27K-83.1%	$48K+633.3%	$98K+78.2%	$47K-85.7%	$160K+122.2%	-$9K-28.6%	$55K+1475.0%
R&D Expenses	$13K	N/A	N/A	N/A	$0	N/A	$0-100.0%	$0
SG&A Expenses	N/A	N/A	$587K+9.9%	$251K-87.3%	$729K+26.8%	$739K-19.2%	$534K+32.8%	$2.0M+27.5%
Operating Income	-$381K+44.1%	$79K+113.6%	-$539K+0.6%	-$153K+92.3%	-$682K-126.6%	-$579K+37.2%	-$542K+69.2%	-$2.0M-24.0%
EBITDA	-$311K+49.2%	$145K+126.1%	-$470K-50.6%	-$83K+95.3%	-$612K-903.3%	-$556K+18.7%	-$312K+78.4%	-$1.8M-37.1%
Income Tax	-$4K-300.0%	-$3K-400.0%	$0-100.0%	$1K	-$1K0.0%	$1K+133.3%	$403K+20250.0%	$0-100.0%
Net Income	-$350K+45.1%	$126K+123.7%	-$494K+36.7%	-$108K+94.4%	-$637K-194.9%	-$531K+37.5%	-$781K+59.1%	-$1.9M-25.9%
EPS (Basic)	-$0.10+63.0%	$0.04+117.4%	-$0.15+28.6%	-$0.04+96.2%	-$0.27-145.5%	-$0.23+47.7%	-$0.21-114.7%	-$1.06-26.2%

Not reported in any period shown, so not listed: Interest Expense, EPS (Diluted), Diluted Shares (Avg).

CNET Balance Sheet

CNET quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$9.7M-0.1%	$9.7M-13.8%	$11.2M-42.9%	$19.7M-39.8%	$32.6M+57.9%	$20.7M+11.4%	$18.6M+9.3%	$17.0M-40.6%	$28.6M-4.9%	$30.0M-15.3%	$35.5M-25.2%	$47.4M-16.5%	$56.8M-0.1%	$56.9M-0.6%	$57.3M
Current Assets	$7.6M-17.6%	$9.2M+2.4%	$9.0M-27.2%	$12.3M-38.2%	$19.9M+54.6%	$12.9M+8.0%	$11.9M-4.5%	$12.5M-26.0%	$16.9M+16.8%	$14.5M-31.2%	$21.0M-24.0%	$27.7M-19.2%	$34.3M-3.3%	$35.4M+2.0%	$34.7M
Cash & Equivalents	$970K+19.5%	$812K-0.6%	$817K-81.4%	$4.4M-38.8%	$7.2M+66.9%	$4.3M+168.1%	$1.6M-57.2%	$3.7M+26.8%	$3.0M-2.7%	$3.0M-44.8%	$5.5M+9.3%	$5.0M+46.3%	$3.4M-37.2%	$5.5M-48.7%	$10.7M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$545K-66.2%	$1.6M+91.2%	$844K-51.6%	$1.7M-49.3%	$3.4M+42.9%	$2.4M-26.2%	$3.3M-48.7%	$6.4M-11.9%	$7.2M+117.2%	$3.3M+30.3%	$2.5M+5.9%	$2.4M-68.6%	$7.7M-9.6%	$8.5M+91.0%	$4.4M
Long-Term Investments	$1.1M+181.4%	$397K-50.0%	$794K-50.3%	$1.6M-30.0%	$2.3M+3303.0%	$67K+91.4%	$35K	$0-100.0%	$918K-31.5%	$1.3M+18.3%	$1.1M+24.6%	$909K+7.6%	$845K	$0	$0
Goodwill	N/A	N/A	$0	N/A	N/A	N/A	N/A	N/A	$5.3M+6.2%	$5.0M+13.1%	$4.4M-35.1%	$6.8M-40.9%	$11.4M+3.3%	$11.1M0.0%	$11.1M
Total Liabilities	$5.3M-11.6%	$6.0M+19.9%	$5.0M-32.4%	$7.4M-32.3%	$10.9M+32.7%	$8.2M+14.7%	$7.1M-22.2%	$9.2M-30.0%	$13.1M+69.1%	$7.7M+1.6%	$7.6M-33.8%	$11.5M-2.4%	$11.8M-2.2%	$12.1M+24.1%	$9.7M
Current Liabilities	$5.1M-13.2%	$5.8M+20.4%	$4.9M-14.8%	$5.7M-35.4%	$8.8M+10.0%	$8.0M+14.4%	$7.0M-22.5%	$9.0M-30.2%	$13.0M+70.1%	$7.6M+3.4%	$7.4M-29.2%	$10.4M+1.8%	$10.2M-0.2%	$10.2M+33.1%	$7.7M
Non-Current Liabilities	$203K+66.4%	$122K-1.6%	$124K-92.5%	$1.7M-18.7%	$2.0M+1131.3%	$166K+32.8%	$125K-2.3%	$128K-4.5%	$134K+6.3%	$126K-50.2%	$253K-77.1%	$1.1M-30.0%	$1.6M-13.5%	$1.8M-10.0%	$2.0M
Total Equity	$4.3M+18.7%	$3.7M-41.5%	$6.3M-49.1%	$12.3M-43.5%	$21.8M+73.5%	$12.5M+9.4%	$11.5M+46.2%	$7.8M-48.7%	$15.3M-31.3%	$22.2M-18.6%	$27.3M-24.5%	$36.2M-19.9%	$45.1M+2.1%	$44.2M+6.0%	$41.7M
Retained Earnings	-$65.2M-2.8%	-$63.5M-6.3%	-$59.7M-11.5%	-$53.5M-22.4%	-$43.7M-6.7%	-$41.0M-14.6%	-$35.8M-3.7%	-$34.5M-68.5%	-$20.5M-97.7%	-$10.4M-167.8%	-$3.9M-174.1%	$5.2M-72.5%	$19.0M-2.8%	$19.5M+16.9%	$16.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-K
Total Assets	$9.8M+5.5%	$9.5M-0.8%	$9.7M-0.1%	$9.7M-12.3%	$9.2M-14.7%	$9.5M-16.3%	$9.7M-13.8%	$11.0M-25.5%
Current Assets	$7.8M-2.5%	$7.4M-9.8%	$7.6M-17.6%	$8.5M-14.1%	$8.0M-14.8%	$8.2M-11.5%	$9.2M+2.4%	$9.9M+5.1%
Cash & Equivalents	$611K-64.2%	$720K-10.8%	$970K+19.5%	$1.8M+56.8%	$1.7M+234.5%	$807K+72.8%	$812K-0.6%	$1.1M-14.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$569K+207.6%	$181K-91.5%	$545K-66.2%	$1.1M-25.4%	$185K-84.3%	$2.1M+182.8%	$1.6M+91.2%	$1.5M+91.7%
Long-Term Investments	$1.1M+181.4%	$1.1M+181.4%	$1.1M+181.4%	$397K0.0%	$397K0.0%	$397K-50.0%	$397K-50.0%	$397K-60.3%
Total Liabilities	$5.6M-1.8%	$5.1M-20.1%	$5.3M-11.6%	$6.2M+2.2%	$5.7M+2.2%	$6.4M+6.4%	$6.0M+19.9%	$6.1M-6.6%
Current Liabilities	$5.4M-0.9%	$4.9M-19.8%	$5.1M-13.2%	$6.0M+0.6%	$5.4M+0.1%	$6.1M+4.2%	$5.8M+20.4%	$6.0M+17.5%
Non-Current Liabilities	$188K-22.6%	$195K-26.1%	$203K+66.4%	$223K+78.4%	$243K+92.9%	$264K+107.9%	$122K-1.6%	$125K-91.4%
Total Equity	$4.1M+17.2%	$4.3M+38.6%	$4.3M+18.7%	$3.3M-30.8%	$3.5M-32.9%	$3.1M-42.5%	$3.7M-41.5%	$4.8M-41.3%
Retained Earnings	-$65.4M-1.3%	-$65.1M-1.7%	-$65.2M-2.8%	-$64.7M-3.3%	-$64.6M-6.4%	-$64.0M-5.7%	-$63.5M-6.3%	-$62.7M-8.5%

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

CNET Cash Flow Statement

CNET quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$1.0M	-$929K+54.9%	-$2.1M-2.3%	-$2.0M+36.9%	-$3.2M+63.9%	-$8.8M-2811.0%	$326K+107.6%	-$4.3M+20.0%	-$5.4M-308.3%	-$1.3M-134.5%	-$563K-109.8%	$5.7M+192.7%	$2.0M-29.0%	$2.8M-45.2%	$5.0M+933.8%	-$603K
Depreciation & Amortization	N/A	$232K-75.3%	$938K-27.2%	$1.3M-41.9%	$2.2M+250.5%	$632K-26.2%	$856K+403.5%	$170K-68.6%	$541K-62.0%	$1.4M-9.5%	$1.6M-11.1%	$1.8M+23.0%	$1.4M-11.1%	$1.6M-1.2%	$1.6M+61.8%	$1.0M
Stock-Based Compensation	N/A	$346K-49.4%	$684K+539.3%	$107K-42.5%	$186K-97.4%	$7.0M+226.6%	$2.2M+447.6%	$393K+68.7%	$233K-89.7%	$2.3M-1.6%	$2.3M+2.3%	$2.3M-53.4%	$4.8M+3772.0%	$125K+160.4%	$48K-98.3%	$2.9M
Capital Expenditures	$0	$65K+2066.7%	$3K-96.3%	$81K	$0-100.0%	$334K	$0	N/A	$11K+175.0%	$4K-97.3%	$148K-58.4%	$356K+27.1%	$280K+254.4%	$79K-74.8%	$314K-57.6%	$741K
Free Cash Flow	-$1.0M	-$994K+51.8%	-$2.1M+1.5%	-$2.1M+34.4%	-$3.2M+65.2%	-$9.2M-2913.5%	$326K	N/A	-$5.4M-307.9%	-$1.3M-86.2%	-$711K-113.2%	$5.4M+220.4%	$1.7M-37.3%	$2.7M-43.2%	$4.7M+450.7%	-$1.3M
Investing Cash Flow	-$549K	-$144K-116.1%	$895K+158.2%	-$1.5M-378.4%	$552K+110.1%	-$5.5M-57.5%	-$3.5M-60.9%	-$2.2M+29.2%	-$3.0M-46.6%	-$2.1M+19.3%	-$2.6M+44.3%	-$4.6M-619.3%	$891K+115.5%	-$5.7M+42.2%	-$9.9M-63.0%	-$6.1M
Financing Cash Flow	$483K	$1.2M+7.7%	$1.1M	$0	$0-100.0%	$17.1M+194.3%	$5.8M+33.6%	$4.4M-54.2%	$9.5M	N/A	$753K+674.8%	-$131K+89.6%	-$1.3M-255.8%	$807K+309.6%	-$385K-126.0%	$1.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-K
Operating Cash Flow	-$108K-115.8%	-$292K+70.3%	-$148K+82.2%	-$482K-143.4%	$685K+201.2%	-$984K-178.8%	-$830K-74.4%	-$198K+70.6%
Depreciation & Amortization	$70K0.0%	$66K+187.0%	$69K-69.3%	$70K-69.6%	$70K-70.8%	$23K-90.3%	$225K-30.1%	$230K-28.3%
Stock-Based Compensation	$242K+68.1%	$0-100.0%	N/A	$59K-96.4%	$144K	$143K	N/A	$1.6M+13583.3%
Capital Expenditures	$0-100.0%	$0-100.0%	$0	$0	$28K	$37K	$0-100.0%	$0-100.0%
Free Cash Flow	-$108K-116.4%	-$292K+71.4%	-$148K+82.2%	-$482K-143.4%	$657K	-$1.0M	-$830K-64.4%	-$198K+72.7%
Investing Cash Flow	$0+100.0%	$51K-89.5%	-$600K-340.0%	$0+100.0%	-$28K-104.4%	$484K+5277.8%	$250K+757.9%	-$6K+83.8%
Financing Cash Flow	$0-100.0%	$0-100.0%	-$45K-116.7%	$528K-34.5%	$250K+257.1%	$500K	$269K	$806K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

CNET Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CNET quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	7.6%+4.8pp	2.9%+4.3pp	-1.4%-0.7pp	-0.7%-0.9pp	0.2%-1.4pp	1.7%-7.8pp	9.5%+5.2pp	4.2%-5.7pp	9.9%-12.4pp	22.3%-1.3pp	23.6%+6.9pp	16.7%-29.1pp	45.9%+13.5pp	32.4%-27.0pp	59.4%
Operating Margin	-42.3%-18.0pp	-24.3%-4.7pp	-19.7%+22.7pp	-42.4%-13.7pp	-28.7%-13.9pp	-14.8%-11.9pp	-2.9%+22.5pp	-25.4%-5.2pp	-20.2%-2.5pp	-17.7%+11.2pp	-28.9%+5.7pp	-34.5%-36.6pp	2.0%-7.7pp	9.7%-1.5pp	11.3%
Net Margin	-38.4%-14.0pp	-24.4%-4.8pp	-19.5%+17.8pp	-37.3%-31.5pp	-5.8%+7.8pp	-13.6%-11.4pp	-2.2%+22.4pp	-24.5%-2.8pp	-21.7%-3.0pp	-18.7%+9.5pp	-28.2%+8.3pp	-36.5%-35.7pp	-0.8%-7.2pp	6.5%-4.2pp	10.7%
Return on Equity	-40.8%+62.1pp	-102.8%-7.3pp	-95.5%-15.9pp	-79.6%-67.0pp	-12.7%+28.9pp	-41.6%-30.6pp	-11.0%+167.8pp	-178.8%-112.6pp	-66.2%-37.0pp	-29.2%+4.1pp	-33.3%+4.7pp	-38.0%-37.4pp	-0.5%-7.3pp	6.8%-0.4pp	7.2%
Return on Assets	-18.3%+20.5pp	-38.8%+14.4pp	-53.2%-3.4pp	-49.8%-41.4pp	-8.4%+16.8pp	-25.2%-18.4pp	-6.8%+75.9pp	-82.7%-47.2pp	-35.4%-13.8pp	-21.6%+4.0pp	-25.6%+3.3pp	-29.0%-28.6pp	-0.4%-5.7pp	5.3%0.0pp	5.2%
Current Ratio	1.49-0.1x	1.57-0.3x	1.85-0.3x	2.16-0.1x	2.26+0.7x	1.61-0.1x	1.70+0.3x	1.38+0.1x	1.30-0.6x	1.90-1.0x	2.85+0.2x	2.66-0.7x	3.35-0.1x	3.46-1.1x	4.51
Debt-to-Equity	1.21-0.4x	1.63+0.8x	0.80+0.2x	0.60+0.1x	0.50-0.2x	0.650.0x	0.62-0.5x	1.17+0.3x	0.86+0.5x	0.35+0.1x	0.280.0x	0.32+0.1x	0.260.0x	0.270.0x	0.23
Asset Turnover	0.48-1.1x	1.59-1.1x	2.72+1.4x	1.33-0.1x	1.45-0.4x	1.86-1.3x	3.13-0.2x	3.37+1.7x	1.63+0.5x	1.16+0.2x	0.91+0.1x	0.79+0.3x	0.53-0.3x	0.82+0.3x	0.49
FCF Margin	-21.5%-8.2pp	-13.4%-6.5pp	-6.8%+5.3pp	-12.2%+7.2pp	-19.4%-20.2pp	0.9%	N/A	-9.4%-6.6pp	-2.8%-0.8pp	-2.1%-18.7pp	16.7%+12.2pp	4.5%-4.5pp	8.9%-1.2pp	10.2%+14.9pp	-4.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-K
Gross Margin	7.2%-1.4pp	7.0%-2.6pp	6.9%+7.3pp	5.7%+4.0pp	8.6%+3.5pp	9.7%+7.6pp	-0.4%-0.3pp	1.7%+1.7pp
Operating Margin	-58.4%	20.6%+55.7pp	-77.3%-53.2pp	-8.9%+52.6pp	-124.4%	-35.0%-8.9pp	-24.1%+9.3pp	-61.5%-44.0pp
Net Margin	-53.7%	32.9%+65.0pp	-70.9%-36.1pp	-6.3%+52.8pp	-116.2%	-32.1%-8.1pp	-34.7%+1.5pp	-59.1%-42.5pp
Return on Equity	-8.5%+9.6pp	2.9%+20.0pp	-11.4%+10.0pp	-3.2%+36.3pp	-18.1%-14.0pp	-17.1%-1.4pp	-21.4%+9.2pp	-39.6%-21.1pp
Return on Assets	-3.6%+3.3pp	1.3%+6.9pp	-5.1%+3.0pp	-1.1%+16.3pp	-6.9%-4.9pp	-5.6%+1.9pp	-8.1%+8.9pp	-17.4%-7.1pp
Current Ratio	1.450.0x	1.52+0.2x	1.49-0.1x	1.41-0.2x	1.47-0.3x	1.35-0.2x	1.57-0.3x	1.65-0.2x
Debt-to-Equity	1.35-0.3x	1.18-0.9x	1.21-0.4x	1.86+0.6x	1.62+0.6x	2.05+0.9x	1.63+0.8x	1.26+0.5x
Asset Turnover	0.070.0x	0.04-0.1x	0.07-0.2x	0.18-0.1x	0.06-0.5x	0.17-0.1x	0.23-0.2x	0.29-0.3x
FCF Margin	-16.6%	-76.2%-14.4pp	-21.2%+15.7pp	-28.1%-22.0pp	119.9%	-61.8%	-36.9%-27.3pp	-6.1%+1.8pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ZW Data Action Technologies Inc. CNET	FY2025	$4.6M	-$1.8M	-38.4%	$4.5M	31/100
Haoxi Health Technology Limited HAO	FY2025	$32.8M	$3.9M	11.8%	$1.0M	57/100
Baosheng Media Group Holdings Limited BAOS	FY2025	$569K	-$12.0M	N/A	$10.2M	—
Star Fashion Culture Holdings Limited STFS	FY2025	$16.9M	-$18.3M	N/A	$4.7M	19/100
Direct Digital Holdings, Inc. DRCT	FY2025	$34.7M	-$18.9M	-54.6%	$1.3M	3/100
Cheer Holding, Inc. CHR	FY2025	$148.8M	$25.6M	17.2%	$3.0M	73/100

Where ZW Data Action Technologies Inc. Ranks

Frequently Asked Questions

What is ZW Data Action Technologies Inc.'s annual revenue?

ZW Data Action Technologies Inc. (CNET) reported $4.6M in total revenue for fiscal year 2025. This represents a -70.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ZW Data Action Technologies Inc.'s revenue growing?

ZW Data Action Technologies Inc. (CNET) revenue declined by 70.1% year-over-year, from $15.4M to $4.6M in fiscal year 2025.

Is ZW Data Action Technologies Inc. profitable?

No, ZW Data Action Technologies Inc. (CNET) reported a net income of -$1.8M in fiscal year 2025, with a net profit margin of -38.4%.

What is ZW Data Action Technologies Inc.'s EBITDA?

ZW Data Action Technologies Inc. (CNET) had EBITDA of -$1.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is ZW Data Action Technologies Inc.'s gross margin?

ZW Data Action Technologies Inc. (CNET) had a gross margin of 7.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ZW Data Action Technologies Inc.'s operating margin?

ZW Data Action Technologies Inc. (CNET) had an operating margin of -42.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ZW Data Action Technologies Inc.'s net profit margin?

ZW Data Action Technologies Inc. (CNET) had a net profit margin of -38.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ZW Data Action Technologies Inc.'s return on equity (ROE)?

ZW Data Action Technologies Inc. (CNET) has a return on equity of -40.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ZW Data Action Technologies Inc.'s free cash flow?

ZW Data Action Technologies Inc. (CNET) recorded an outflow of $994K in free cash flow during fiscal year 2025. This represents a 51.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ZW Data Action Technologies Inc.'s operating cash flow?

ZW Data Action Technologies Inc. (CNET) recorded an outflow of $929K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are ZW Data Action Technologies Inc.'s total assets?

ZW Data Action Technologies Inc. (CNET) had $9.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ZW Data Action Technologies Inc.'s capital expenditures?

ZW Data Action Technologies Inc. (CNET) invested $65K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does ZW Data Action Technologies Inc. have outstanding?

ZW Data Action Technologies Inc. (CNET) had 3M shares outstanding as of fiscal year 2025.

What is ZW Data Action Technologies Inc.'s current ratio?

ZW Data Action Technologies Inc. (CNET) had a current ratio of 1.49 as of fiscal year 2025, which is considered adequate.

What is ZW Data Action Technologies Inc.'s debt-to-equity ratio?

ZW Data Action Technologies Inc. (CNET) had a debt-to-equity ratio of 1.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ZW Data Action Technologies Inc.'s return on assets (ROA)?

ZW Data Action Technologies Inc. (CNET) had a return on assets of -18.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ZW Data Action Technologies Inc.'s P/E ratio?

ZW Data Action Technologies Inc. (CNET) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.5M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ZW Data Action Technologies Inc.'s price-to-sales ratio?

ZW Data Action Technologies Inc. (CNET) trades at 1.3x sales, its market capitalization divided by revenue of $3.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.5M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does ZW Data Action Technologies Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, ZW Data Action Technologies Inc. (CNET) held $2.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $929K over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is ZW Data Action Technologies Inc.'s Altman Z-Score?

ZW Data Action Technologies Inc. (CNET) has an Altman Z-Score of -8.80, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ZW Data Action Technologies Inc.'s Piotroski F-Score?

ZW Data Action Technologies Inc. (CNET) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ZW Data Action Technologies Inc.'s earnings high quality?

ZW Data Action Technologies Inc. (CNET) reported a net loss of $1.8M while operations used $929K of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is ZW Data Action Technologies Inc.?

ZW Data Action Technologies Inc. (CNET) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.