Ecarx Holdings (ECXWW) Financials
Newest figures come from the 10-K for FY2025, filed Mar 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ECXWW SEC filings page.
Ecarx Holdings (ECXWW) reported $847.9M in revenue for fiscal year 2025, up 9.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Revenue scale is improving operating losses, but gross-margin compression and financing dependence keep cash conversion fragile.
By FY2025, operating margin reached-6.5% while gross margin fell to19.0% , indicating expense discipline and cost absorption—not improved gross economics—drove the narrower loss. In FY2025, operating cash flow was-$94.4M versus free cash flow of-$106.6M ; investing outlays therefore widened the cash gap, so the accounting improvement has not yet produced self-funding operations.
FY2025 liabilities of
R&D declined from
Financial Health Signals
Ecarx Holdings does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Ecarx Holdings passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ecarx Holdings reported a net loss of $66.0M while operations used $94.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ecarx Holdings reported an operating loss of $54.8M against $23.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Ecarx Holdings held $87.1M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
ECXWW 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
ECXWW Balance Sheet
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.
| Metric | Q4'2510-K | Q2'2510-Q | Q4'2410-K | Q2'2410-Q | Q4'2310-K | Q4'2210-K |
|---|---|---|---|---|---|---|
| Total Assets | $662.4M+28.8% | $494.9M-10.8% | $514.3M-14.4% | $555.0M | $601.1M-2.5% | $616.3M |
| Current Assets | $483.2M+25.1% | $385.8M-4.9% | $386.1M-16.6% | $405.5M | $463.2M-2.6% | $475.7M |
| Cash & Equivalents | $87.1M+96.9% | $86.2M-20.5% | $44.3M-44.9% | $108.4M | $80.3M-24.9% | $106.9M |
| Short-Term Investments | $31.2M+74.2% | $33.4M+75.9% | $17.9M-7.9% | $19.0M | $19.4M | $0 |
| Inventory | $62.3M+95.6% | $35.0M+43.5% | $31.9M+40.7% | $24.4M | $22.6M+18.7% | $19.1M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | $60.6M |
| Long-Term Investments | $61.5M+2742.1% | $2.0M-93.4% | $2.2M-94.9% | $30.3M | $42.4M-40.3% | $71.0M |
| Goodwill | $3.7M+5.2% | $3.6M | $3.5M | N/A | N/A | N/A |
| Total Liabilities | $945.9M+25.8% | $790.2M+5.5% | $752.0M+4.7% | $749.0M | $718.6M+11.9% | $642.0M |
| Current Liabilities | $823.0M+17.8% | $733.0M+17.0% | $698.6M+17.7% | $626.4M | $593.7M+13.8% | $521.9M |
| Non-Current Liabilities | $122.9M+130.1% | $57.2M-53.4% | $53.4M-57.2% | $122.7M | $124.9M+3.9% | $120.2M |
| Total Equity | -$282.7M-17.9% | -$293.7M-48.0% | -$239.7M-84.7% | -$198.5M | -$129.8M-405.1% | -$25.7M |
| Retained Earnings | -$1.2B-5.9% | -$1.2B-19.8% | -$1.1B-19.7% | -$996.4M | -$939.5M-13.5% | -$828.0M |
Not reported in any period shown, so not listed: Long-Term Debt.
ECXWW Cash Flow 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
ECXWW 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$282.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.59), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Ecarx Holdings Ranks
Frequently Asked Questions
What is Ecarx Holdings's annual revenue?
Ecarx Holdings (ECXWW) reported $847.9M in total revenue for fiscal year 2025. This represents a 9.9% 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 Ecarx Holdings's revenue growing?
Ecarx Holdings (ECXWW) revenue grew by 9.9% year-over-year, from $771.5M to $847.9M in fiscal year 2025.
Is Ecarx Holdings profitable?
No, Ecarx Holdings (ECXWW) reported a net income of -$66.0M in fiscal year 2025, with a net profit margin of -7.8%.
What is Ecarx Holdings's EBITDA?
Ecarx Holdings (ECXWW) had EBITDA of -$34.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ecarx Holdings's gross margin?
Ecarx Holdings (ECXWW) had a gross margin of 19.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ecarx Holdings's operating margin?
Ecarx Holdings (ECXWW) had an operating margin of -6.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ecarx Holdings's net profit margin?
Ecarx Holdings (ECXWW) had a net profit margin of -7.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ecarx Holdings's free cash flow?
Ecarx Holdings (ECXWW) recorded an outflow of $106.6M in free cash flow during fiscal year 2025. This represents a -40.4% 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 Ecarx Holdings's operating cash flow?
Ecarx Holdings (ECXWW) recorded an outflow of $94.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ecarx Holdings's total assets?
Ecarx Holdings (ECXWW) had $662.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ecarx Holdings's capital expenditures?
Ecarx Holdings (ECXWW) invested $12.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ecarx Holdings spend on research and development?
Ecarx Holdings (ECXWW) invested $123.3M in research and development during fiscal year 2025.
What is Ecarx Holdings's current ratio?
Ecarx Holdings (ECXWW) had a current ratio of 0.59 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Ecarx Holdings's return on assets (ROA)?
Ecarx Holdings (ECXWW) had a return on assets of -10.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Ecarx Holdings's debt-to-equity ratio negative or not reported?
Ecarx Holdings (ECXWW) has negative shareholder equity of -$282.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Ecarx Holdings's Piotroski F-Score?
Ecarx Holdings (ECXWW) has a Piotroski F-Score of 2 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 Ecarx Holdings's earnings high quality?
Ecarx Holdings (ECXWW) reported a net loss of $66.0M while operations used $94.4M 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.
Can Ecarx Holdings cover its interest payments?
Ecarx Holdings (ECXWW) reported an operating loss of $54.8M against $23.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.