Ebang International Holdings Inc. Financials
Ebang International Holdings Inc. (EBON) reported $6.5M in revenue for fiscal year 2025, up 11.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
A very large cash reserve is funding a still-small operating business whose internal economics remain too thin to carry overhead.
Earnings quality improved in FY2025 because the net loss of-$14.1M came with operating cash outflow of-$9.0M , versus-$20.3M and-$17.6M in FY2024; but with revenue of only$6.5M on$256.8M of assets, the lighter burn reflects a leaner cost base more than a business that is scaling.
Loss reduction in FY2025 looks more like expense compression than an operating inflection: SG&A plus R&D fell to
Balance-sheet posture remains unusually conservative despite recurring losses: cash of
Financial Health Signals
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 Ebang International Holdings 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.
Not available for Ebang International Holdings Inc., and counted as zero in the overall score.
Ebang International Holdings Inc. scores 0.60, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($14.4M) relative to total liabilities ($11.7M). 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.
Ebang International Holdings Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Ebang International Holdings Inc. reported a net loss of $14.1M while operations used $9.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Ebang International Holdings Inc. generated $6.5M in revenue in fiscal year 2025. This represents an increase of 11.4% from the prior year.
Ebang International Holdings Inc.'s EBITDA was -$22.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.1% from the prior year.
Ebang International Holdings Inc. reported -$14.1M in net income in fiscal year 2025. This represents an increase of 30.4% from the prior year.
Ebang International Holdings Inc. earned -$2.24 per diluted share (EPS) in fiscal year 2025. This represents an increase of 30.4% from the prior year.
Cash & Balance Sheet
Ebang International Holdings Inc. recorded an outflow of $13.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 24.1% from the prior year.
Ebang International Holdings Inc. held $200.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Ebang International Holdings Inc.'s gross margin was 6.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 14.2 percentage points from the prior year.
Ebang International Holdings Inc.'s ROE was -5.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ebang International Holdings Inc. invested $4.1M in research and development in fiscal year 2025. This represents a decrease of 24.6% from the prior year.
Ebang International Holdings Inc. invested $4.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1915.7% from the prior year.
Not reported for fiscal year 2025.
EBON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M+11.4% | $5.9M+20.9% | $4.9M-85.0% | $32.3M-37.2% | $51.5M+170.7% | $19.0M-82.6% | $109.1M-65.8% | $319.0M |
| Cost of Revenue | $6.1M+31.3% | $4.7M-78.3% | $21.6M+27.4% | $16.9M-23.9% | $22.2M+1.5% | $21.9M-84.3% | $139.6M-52.6% | $294.6M |
| Gross Profit | $395K-66.8% | $1.2M+107.1% | -$16.7M-208.4% | $15.4M-47.3% | $29.2M+1107.9% | -$2.9M+90.5% | -$30.6M-225.0% | $24.4M |
| R&D Expenses | $4.1M-24.6% | $5.4M-26.7% | $7.4M+43.8% | $5.1M-21.5% | $6.6M-22.5% | $8.5M-36.7% | $13.4M-69.3% | $43.5M |
| SG&A Expenses | $22.7M-25.4% | $30.5M+4.9% | $29.0M-28.7% | $40.7M+58.0% | $25.8M+12.9% | $22.8M+20.9% | $18.9M-63.3% | $51.4M |
| Operating Income | -$25.3M+16.7% | -$30.4M+43.4% | -$53.6M-11.8% | -$48.0M-2463.5% | $2.0M+107.6% | -$26.6M+47.4% | -$50.6M-63.1% | -$31.1M |
| Interest Expense | N/A | N/A | N/A | N/A | $4K-99.4% | $728K-64.3% | $2.0M+121.6% | $921K |
| Income Tax | -$321K-654.5% | -$43K+95.9% | -$1.0M-1314.3% | -$73K+80.7% | -$379K-104.1% | $9.3M+2211.1% | $400K-55.5% | $900K |
| Net Income | -$14.1M+30.4% | -$20.3M+44.9% | -$36.8M+16.2% | -$43.9M-1090.5% | $4.4M+113.8% | -$32.1M+24.3% | -$42.4M-244.5% | -$12.3M |
| EPS (Diluted) | -$2.24+30.4% | -$3.22+45.1% | -$5.86+16.6% | -$7.03-1037.3% | $0.75+109.9% | -$7.55 | -$0.38 | -$0.36 |
EBON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $256.8M-6.9% | $275.8M-7.5% | $298.2M-13.3% | $344.2M-10.8% | $385.9M+167.6% | $144.2M+74.6% | $82.6M | N/A |
| Current Assets | $216.2M-6.3% | $230.8M-7.5% | $249.6M-7.3% | $269.1M-9.9% | $298.8M+335.6% | $68.6M+138.0% | $28.8M | N/A |
| Cash & Equivalents | $200.2M-6.4% | $213.8M-11.5% | $241.6M-3.8% | $251.3M+4.8% | $239.9M+1654.8% | $13.7M+294.6% | $3.5M-82.2% | $19.5M |
| Inventory | $3.6M+510.1% | $597K+200.3% | $199K-54.8% | $440K-93.8% | $7.1M+85.6% | $3.8M-70.6% | $13.1M | N/A |
| Accounts Receivable | $1.1M-30.7% | $1.6M+67.6% | $947K-71.6% | $3.3M-66.2% | $9.9M+37.0% | $7.2M-11.4% | $8.1M | N/A |
| Goodwill | N/A | $1.3M | N/A | $2.3M | N/A | N/A | N/A | N/A |
| Total Liabilities | $11.7M-24.1% | $15.4M-8.7% | $16.9M-24.4% | $22.4M+32.5% | $16.9M-50.9% | $34.4M-39.7% | $57.0M | N/A |
| Current Liabilities | $7.9M-33.2% | $11.9M-0.9% | $12.0M-22.8% | $15.5M+5.3% | $14.7M-57.1% | $34.3M-12.3% | $39.0M | N/A |
| Long-Term Debt | N/A | N/A | N/A | $5.8M+187.7% | $2.0M+1583.8% | $119K | N/A | N/A |
| Total Equity | $244.2M-5.9% | $259.6M-7.2% | $279.8M-12.3% | $318.9M-13.6% | $369.0M+236.0% | $109.8M+329.5% | $25.6M-62.3% | $67.8M |
| Retained Earnings | -$149.2M-10.4% | -$135.1M-17.6% | -$114.8M-47.1% | -$78.1M-128.4% | -$34.2M+11.4% | -$38.6M-388.0% | -$7.9M | N/A |
EBON Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.0M+48.6% | -$17.6M-52.8% | -$11.5M-323.7% | $5.2M+132.5% | -$15.8M-2.0% | -$15.5M-17.2% | -$13.3M+87.7% | -$108.2M |
| Capital Expenditures | $4.5M+1915.7% | $223K-77.4% | $986K-74.1% | $3.8M-38.2% | $6.2M-43.2% | $10.8M+85.7% | $5.8M-1.8% | $5.9M |
| Free Cash Flow | -$13.5M+24.1% | -$17.8M-42.5% | -$12.5M-1027.5% | $1.3M+106.1% | -$22.0M+16.6% | -$26.4M-38.1% | -$19.1M+83.3% | -$114.2M |
| Investing Cash Flow | -$5.4M+45.7% | -$9.9M-476.1% | $2.6M-54.3% | $5.8M+188.4% | -$6.5M+89.7% | -$63.2M-987.6% | -$5.8M+7.6% | -$6.3M |
| Financing Cash Flow | N/A | N/A | N/A | N/A | $248.3M+169.7% | $92.1M+977.0% | $8.5M-38.8% | $14.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
EBON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 6.0%-14.2pp | 20.3% | -344.0% | 47.7%-9.1pp | 56.8%+72.1pp | -15.3%+12.8pp | -28.0%-35.7pp | 7.7% |
| Operating Margin | -387.0% | -517.5% | -1104.8% | -148.4% | 4.0% | -140.2% | -46.4%-36.7pp | -9.7% |
| Net Margin | -215.6% | -345.1% | -757.4% | -135.8% | 8.6% | -169.0% | -38.9%-35.0pp | -3.9% |
| Return on Equity | -5.8%+2.0pp | -7.8%+5.3pp | -13.1%+0.6pp | -13.8%-15.0pp | 1.2%+30.4pp | -29.2%+136.6pp | -165.8%-147.7pp | -18.1% |
| Return on Assets | -5.5%+1.9pp | -7.3%+5.0pp | -12.3%+0.4pp | -12.8%-13.9pp | 1.1%+23.4pp | -22.3%+29.1pp | -51.3% | N/A |
| Current Ratio | 27.31+7.8x | 19.47-1.4x | 20.87+3.5x | 17.38-2.9x | 20.32+18.3x | 2.00+1.3x | 0.74 | N/A |
| Debt-to-Equity | 0.050.0x | 0.060.0x | 0.060.0x | 0.020.0x | 0.010.0x | 0.00-2.2x | 2.23 | N/A |
| FCF Margin | -207.2% | -303.9% | -257.8% | 4.2%+46.9pp | -42.8% | -138.8% | -17.5%+18.3pp | -35.8% |
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: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Ebang International Holdings Inc. Ranks
Frequently Asked Questions
What is Ebang International Holdings Inc.'s annual revenue?
Ebang International Holdings Inc. (EBON) reported $6.5M in total revenue for fiscal year 2025. This represents a 11.4% 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 Ebang International Holdings Inc.'s revenue growing?
Ebang International Holdings Inc. (EBON) revenue grew by 11.4% year-over-year, from $5.9M to $6.5M in fiscal year 2025.
Is Ebang International Holdings Inc. profitable?
No, Ebang International Holdings Inc. (EBON) reported a net income of -$14.1M in fiscal year 2025.
What is Ebang International Holdings Inc.'s EBITDA?
Ebang International Holdings Inc. (EBON) had EBITDA of -$22.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ebang International Holdings Inc.'s gross margin?
Ebang International Holdings Inc. (EBON) had a gross margin of 6.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ebang International Holdings Inc.'s return on equity (ROE)?
Ebang International Holdings Inc. (EBON) has a return on equity of -5.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ebang International Holdings Inc.'s free cash flow?
Ebang International Holdings Inc. (EBON) recorded an outflow of $13.5M in free cash flow during fiscal year 2025. This represents a 24.1% 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 Ebang International Holdings Inc.'s operating cash flow?
Ebang International Holdings Inc. (EBON) recorded an outflow of $9.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ebang International Holdings Inc.'s total assets?
Ebang International Holdings Inc. (EBON) had $256.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ebang International Holdings Inc.'s capital expenditures?
Ebang International Holdings Inc. (EBON) invested $4.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ebang International Holdings Inc. spend on research and development?
Ebang International Holdings Inc. (EBON) invested $4.1M in research and development during fiscal year 2025.
What is Ebang International Holdings Inc.'s current ratio?
Ebang International Holdings Inc. (EBON) had a current ratio of 27.31 as of fiscal year 2025, which is generally considered healthy.
What is Ebang International Holdings Inc.'s debt-to-equity ratio?
Ebang International Holdings Inc. (EBON) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ebang International Holdings Inc.'s return on assets (ROA)?
Ebang International Holdings Inc. (EBON) had a return on assets of -5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ebang International Holdings Inc.'s cash runway?
Based on fiscal year 2025 data, Ebang International Holdings Inc. (EBON) had $200.2M in cash against an annual operating cash burn of $9.0M. This gives an estimated cash runway of approximately 266 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Ebang International Holdings Inc.'s Altman Z-Score?
Ebang International Holdings Inc. (EBON) has an Altman Z-Score of 0.60, 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 Ebang International Holdings Inc.'s Piotroski F-Score?
Ebang International Holdings Inc. (EBON) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Ebang International Holdings Inc.'s earnings high quality?
Ebang International Holdings Inc. (EBON) reported a net loss of $14.1M while operations used $9.0M 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 Ebang International Holdings Inc.?
Ebang International Holdings Inc. (EBON) scores 60 out of 100 on our Financial Health Score, indicating moderate 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.